Putting the B2B into EBPP
|Boston, MA, USA April 5, 2001
Putting B2B into EBPP: A Market Overview
Celent forecast only slow uptake, despite significant advantages of electronic invoicing
In a new report titled "Putting B2B into EBPP: A Market Overview," Celent Communications explores the up and coming market for business-to-business (B2B) electronic bill presentment and payment (EBPP). Over the past few years financial institutions and billers have focused on offering consumers EBPP solutions, and until recently, have ignored a very lucrative sector of the market, the B2B side.
"Today, the bill issuance and payment process for B2B is incredibly inefficient and businesses must dedicate vast resources and incur substantial costs to process many bills and invoices," says Ariana-Michele Moore, the author of the report. "Therefore, an efficient and cost-saving solution would be highly welcomed by the B2B market." Although there are fewer customers in the B2B market than in B2C, the complexity and number of bills and invoices is larger and more importantly, their dollar value is substantially greater. This market potential for B2B EBPP is slowly being recognized as businesses and solution providers realize the tremendous economic benefit and revenue potential. Within the past year, several solutions have emerged and the focus in the EBPP market is starting to shift to the B2B sector.
Celent's report reviews the bill payment process, points out the many inefficiencies of the B2B bill issuance and payment process, presents possible remedies, and contrasts B2C and B2B solutions. It also offers a cost benefit analysis that will assist readers in understanding the significant economic benefits and cost savings of a B2B EBPP solution. In addition to the overview and analysis, the report highlights Citibank's motivation and decision to implement and provide a B2B EBPP solution to its corporate clientele.
"Despite market enthusiasm, adoption rates for the B2B EBPP market will be slow. The time required to implement a solution and persuade customers to transfer their systems to a solution will be significant impediments for the industry. These two impediments, coupled with the lack of existing standards and comprehensive solutions will greatly impact initial growth. However, the long-run is extremely promising for the B2B EBPP market," concludes Ms. Moore.
A Table of Contents
of Celent Communication's Wholesale Banking research service can download the report electronically by clicking on the icon to the left.
Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].
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Table of Contents
| Boston, MA, USA, April 5, 2001
: A Market Overview
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