Electronic Payments and Online Portals Will Dominate 2021
In a survey of 3,000 suppliers, Nexus found fears around COVID-19 and mail delays are driving suppliers further toward electronic payments (virtual card or ACH). Suppliers also plan to skip email and USPS to submit their invoices, and instead use electronic portals. Real full report Supplier Behavior - Invoicing and Payments in 2021.
of suppliers prefer electronic payment methods (virtual card or ACH) over check because they're faster, and aren't subject to mail float. *
of suppliers plan to accept electronic payments (virtual card or ACH payments) from MORE of their real estate customers in 2021. *
of suppliers reported they plan to step up their usage of all electronic portals to send invoices throughout 2020 instead of using mail or email. **
* Nexus Supplier Survey, October 2020. ** Nexus Supplier Survey, August 2020.