Corporate payment plays an important role for European companies

Neu-Isenburg, January 22, 2024

Companies in Europe are taking a close look at their payment processes and making investments to digitalize and optimize them. Corporate payment plays a particularly important role in Germany. This is confirmed by a survey of 534 purchasing managers in nine European countries (Austria, Belgium, France, Germany, Italy, Luxembourg, the Netherlands, Switzerland, and the UK) conducted by corporate payment expert AirPlus.

Payment methods must be secure, reliable, and transparent

While more than one in three respondents in Europe (38 percent) stated that they had already introduced new payment methods in their company, 41 percent are currently looking into this option, according to the survey. A further 11 percent stated that they had already gathered information but were not currently planning to introduce them.

The target groups of the payment solutions introduced are mainly customers (mentioned by 72 percent), traveling employees (49 percent) and employees from the procurement department (47 percent). In terms of the characteristics of these payment solutions, the following three are most important to the respondents: security (mentioned by 58 percent), reliability (45 percent) and transparency (31 percent).

Companies are investing in the automation of processes

In addition, most European companies have already invested, are currently investing, or are planning to invest in the automation of processes via digital platforms or software modules – in various application areas. The areas of accounts payable, fraud prevention/risk management, procurement, accounts receivable, and working capital and credit all achieved approval ratings of between 80 and just under 70 percent (listed in descending order).

Risk minimization high on the list of priorities

In the context of payment transactions, there are various topics that are of particular concern to companies. First and foremost are:

1. minimizing risk (mentioned by 34 percent)
2. simplifying the ordering and payment process for employees so that they can focus on their core tasks (25 percent) and
3. optimizing payment deadlines compared to invoices (25 percent).

Purchasing office supplies is particularly challenging

There are also individual commodity groups whose procurement presents companies with particular challenges. From the top, these are:

1. office supplies (34 percent)
2. IT licenses (31 percent) and
3. training activities (30 percent)
4. tickets to events (24 percent)
5. marketing expenses (e.g. Google ads) (22 percent)

According to the respondents, all these groups require a particularly prompt payment.

"Companies have recognized that they can significantly simplify their purchasing processes with the help of smart, digital payment solutions and are not afraid to invest," comments Stefan Waelde, Head of Business Development B2B Payments at AirPlus. "The days when employees had to pay in advance with personal credit cards – for example, when ordering and paying via online shops – and the accounting department had to struggle through mountains of paper invoices are long gone. By working with experienced payment experts, companies can focus on what is really important to them."

AirPlus has continuously expanded its range in recent years – from an expert in business travel management to an expert in corporate payments. The company has introduced a special virtual credit card for the payment of items such as software licenses, office supplies, and online advertising, and has entered into partnerships with well-known players in the procurement industry, including Coupa Software, Mazepay, THL Pay, and Piteco. In total, AirPlus has connected more than 4,000 partners and data sources, working closely with more than 60 IT partners to ensure that all solutions can be seamlessly integrated into any customer ecosystem.

About AirPlus International:

AirPlus International is a leading international provider of corporate payment solutions. 53,000 corporate customers rely on AirPlus for the payment and evaluation of their business trips and other purchasing services. The products and services are marketed worldwide under the AirPlus International brand. AirPlus is an issuer of the UATP and Mastercard card schemes. The AirPlus Company Account is the most successful billing account within the UATP. For more information, visit www.airplus.com .