Tariffs, by . Design, increase the cost of imported goods to incentivize domestic production. However, in practice, they . Often inject uncertainty The The Role of Role of Digital Marketing in the Customer Journeyinto supply chains, making it harder for procurement teams to plan, budget . And execute purchases.To kenya phone number data stay competitive, companies are turning to digital payments and integrated bb marketplace . Platforms that provide greater transparency and control over procurement spend. Tools like dynamic discounting and . Automated invoice reconciliation, as well as digitizing the entire procure-to-pay cycle, are becoming strategic levers .
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For navigating economic headwinds.Read also: trump’s global tariffs position cfos as new supply chain architectsthe . Tariff trigger sets off digital procurement racewith tariffs increasing the costs for imported components and . More, companies are turning to digital procurement and payment platforms, many of which are capable . Of streamlining vendor onboarding, automating payments in multiple currencies, and allowing finance teams to negotiate . Early payment discounts.Amazon, for example, is surveying its third-party sellers to determine the effect of . Tariffs on their businesses.
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Ceo andy jassy has acknowledged najaya jotikasthira head of hr, thailand that shoppers could bear the brunt . Of these costs, as merchants recalibrate to safeguard their margins.Digital procurement isn’t just about buying . Things cheaper but is increasingly about creating a data-rich environment where finance and operations can . Collaborate in real time, making the business more agile in the face of geopolitical and . Economic shocks.“it used to be an educational process just explaining what digitizing payments meant,” ingo . Payments ceo drew edwards told pymnts this month.
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“now we see cfos and treasurers wanting . To optimize it. They want to know, ‘how can we make these processes even more . Economically attractive?’”embedded financial services — offering banking, lending and insurance within non-financial platforms — are . Another piece of the puzzle. By integrating financing options directly usa lists into procurement workflows, companies can . Smooth out cash flow gaps caused by fluctuating tariffs and shifting supplier terms.Platforms like flex, . Which raised $ million in march, and lenkie, which raised $ million also last month, .
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Illustrate a trend where financial services are integrated into business workflows.At the same time, compliance . Departments are grappling with a surge in know your customer (kyc), anti-money laundering (aml), and . Other regulatory checks as global commerce grows more fragmented.See also: kyb in spotlight as tariffs . And digital innovation reshape procurementa new operating model for a new era of proactive procurementwhile . Some companies are struggling under the weight of rising costs and disrupted supply chains, others . Are seizing the opportunity to innovate their payment processes, with virtual cards emerging as a .