Want loyal customers who pay on time?Here’s some food for thought. Out of all business segments, mid-marketcustomers are the greatest adopters of online multi-pay, a payment processwhere multiple invoices are grouped into a single payment. In fact, GlobysResearch shows mid-market customers also have the highest adoption rate ofmulti-user access, pre-defined invoice reports, and automated budgetvalidation.

Whyis this worth noting? Well…

·        Online multi-pay drives lower fees and higher satisfaction

·        Multi-user access drives faster invoice receipt

·        Invoice validation drives accelerated payments

Themid-market segment represents companies earning an annual revenue between $100million and $3 billion. Sitting in between smaller companies and billion-dollargiants, these companies account for a third of revenues in both the U.S. andEuropean economies. For most suppliers, they represent a sizeable amount ofrevenues (and support costs).

Understandingthe unique workflows and dynamics within a mid-market’s operations is key toproviding the optimal digital billing and payment experience. The featurescalled out above are directly aligned to how mid-market customers prefer topay, the visibility required throughout multiple roles, and the validationrequired to meet internal control standards.  The resulting benefits forthem means you get paid faster.

Whilethere are some similarities between customer segments, it’s important to notethat mid-market customers are not the ‘in between’ of SMB and Enterprise. Mid-market customerspossess a unique set of characteristics that impact the way your invoices areprocessed and paid. For example:

Mid-marketcustomers offer a prime opportunity for a win-win scenario. When suppliersunderstand and guide their mid-market customers to the most efficient billingand payment experience, they also reap the benefits by accelerating cash flow,lowering costs and building stronger customer relationships.