Many businesses saw their financial standing turned upside down during the early months of the COVID-19 pandemic, as they adapted to changes in how they could interact with their customers, clients and employees. The shift to remote work by a large number of firms effectively rendered their old ways of managing B2B disbursements to partners or vendors obsolete.
Many of these firms had been using manual processes to finalize such transactions prior to the pandemic’s onset. The closures of brick-and-mortar offices, however, compelled them to seek out treasury solutions that were not paper-reliant so they could keep up with their clients’ changing needs, said Katrina King, executive vice president and treasury management sales manager for Cadence Bank.
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