Payments providers are missing a huge opportunity by not offering integrated spend management software solutions to small and medium enterprises (SMEs). They are the largest business community in any country – and the one likely to gain the biggest benefits.
Key challenges faced by SMEs:
- The range/volume of non-strategic purchases, accounting for 80% of SME’s supplier and transactional spend management volume
- The considerable effort to manage this vast, yet typically low value, spend
- The lack of real-time access to the financial impact of this spend on running their business
Take a look at our SME paper specifically developed for issuers wanting to better support and value the SME market. The value of the SME spend market