Late or slow payments are costing B2B companies valuable relationships and growth opportunities, according to a new survey from American Express.
The Amex Trendex: B2B Payments Edition, which surveyed 1,000 U.S. business decision-makers, found that 26% have stopped working with a buyer or supplier due to payment delays. Meanwhile, 91% believe that easy, secure payments are critical for driving business growth. Despite recognizing the benefits of automation, only 17% of businesses have fully automated their payment processes, highlighting a significant gap between awareness and action.
Payment delays not only disrupt cash flow but also erode trust. The survey found that 82% of business leaders say a single payment-related fraud incident could significantly damage their relationships with buyers and suppliers. Business leaders understand the potential of automated payments to address these issues, but many have yet to implement them.
Impact of late and slow payments on B2B companies
Automated payment systems, such as virtual cards and digital push payments, offer faster processing, improved accuracy, and greater security.
Widad Chaoui, senior vice president of corporate and B2B solutions at American Express, said automation enhances cash flow visibility and working capital flexibility, allowing businesses to reinvest in growth.
“Payments optimization is not always appreciated for its positive impact on relationships and business success,” Chaoui said.
However, perceived barriers continue to slow adoption. Cost remains the top concern, with 45% of business leaders citing it as a challenge. Others question whether automation would benefit their business (28%), while 26% worry about security risks.
R.J. Ancona, vice president and general manager of B2B product at American Express, said the switch from manual to automated payments can feel daunting, but the benefits often outweigh the initial effort.
The survey also highlighted the impact of payments on overall business confidence. Nearly one-third of decision-makers admitted they spend too much time managing payments, and 29% said they would sleep better at night if they didn’t have to worry about payment accuracy and timing.
Looking ahead through 2025, 43% of business leaders planning to update their payment processes say the goal is to drive growth. Effective payment solutions, including automated accounts payable and receivable systems, straight-through processing, and digital push payments, are positioned to help businesses reduce errors, improve efficiency, and strengthen relationships with buyers and suppliers. The shift to automation represents not just an operational upgrade but a strategic opportunity to enhance trust and long-term business success.
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