An Electronic Supply Chain: Will Payments Follow?
The Chicago Fed hosted its fourth payments conference entitled, An Electronic Supply Chain: Will Payments Follow?, May 26–27, 2004. Conference speakers were payment industry leaders who provided an insider's perspective on the necessary success factors for electronic supply chain and epayments integration.
The conference addressed questions such as: B2B payments: Who wins and who loses? What is the value proposition for corporate trading partners? Are incentives aligned for existing payment networks to provide B2B solutions? Are financial institutions proactive or reactive to B2B solutions? Why are certain industries adopting B2B payments while others wait?
- Describe your current role in B2B electronic payments.
- How do you leverage your payment relationships to enhance supply chain processes?
- Does the migration to an electronic supply chain negatively impact current revenue streams?
- Are new entrants affecting the electronic B2B strategies of traditional providers?
- Does the consolidation of the financial services industry lead to greater standardization of payment processes?
- How have you improved your supply chain, and what benefits have you experienced?
- What barriers remain to further improve your business flows?
- How integrated and electronic is the payments component within the overall exchange of information?
- What needs have solution-providers, banks and nonbanks not met yet?
- What products/services do you offer to improve supply chain integration and payment processing?
- Are incentives properly aligned to promote adoption? If not, why?
- Does your product offer sufficient cost reductions by migrating to an electronic supply chain?
- Can EDI meet the needs of all your customers? Is EIPP a transitional product, or is it here to stay?
- What role does your network play in improving the business supply chain? Are incentives properly aligned for electronic supply chain and epayments integration to succeed?
- What future enhancements are you considering to improve the efficiency of the supply chain?
- What are the potential barriers to improving the efficiency of the supply chain?
- How is fraud impacting the growth of B2B electronic payments?