An efficient payment strategy for the Industry 4.0 is crucial. The digitisation of the industry requires a change in mindset for the entire value chain in order to secure your own competitiveness and innovative strength. Thus, efficient payment processing for innovative business models and sales formats plays a central role in this.
Industrial clients, just like consumers, increasingly expect both intuitive and instantly completed, finalised payment processes (also see Instant Payment) – on a global basis. Accordingly, the demands of external as well as internal customers on the treasury’s range of services and thus on competitive solution. Fulfilment processes are rising sharply. Digital sales formats focus more on the use and less on the ownership of “capital equipment”. Thus, “pay-per-use” offers that charge for actual services provided in real time or for the consumption of goods are beginning to establish themselves in the industry. The next step will be the ability to process autonomous transactions.
Marketplaces as digital business models
The assessment and allocation of services and the corresponding payment raise questions about efficiency, the future depth of added value and a suitable organisational model of the treasury in the area of payment and settlement.
- How can these payments be processed efficiently?
- What possibilities for exchange exist? How are these to be evaluated with regard to the respective requirements?
- Which advantages do wallet and distributed ledger technologies, for example, offer for this shift in interactions?
- Which additional commercial services are to be mapped out in order to be able to ensure efficient processing?
For treasurers, areas of action in the future payment strategy in the industry primarily include to provide complementary services required for a successful market place, such as order management, billing & tax management, payment and accounting.
Which type of organisational model is suitable for your treasury?
Companies can choose between different organisational models for payment processing, depending on whether they want to offer central services as enablers only or also provide such services themselves. Depending on the strategic orientation, aspects such as the direct (internal) customer relationship with the operators of the business models, transparency and uniform (global) control of liquidity flows of digital business models or the realisation of synergies through uniform systems and settlement processes are in the focus. Depending on the depth of value creation to be adjusted in a strategically and economically sustainable manner, companies can choose between role models such as Payment facilitator or Payment Gateway.
Read our full whitepaper to learn more about efficient payment strategies for the industry and potential role models.