prolific. Financial services are being integrated into ERP and procurement platforms, enabling contextual financing, automated reconciliation and instant payments.
Then there is the expanded use of virtual cards. Here at Mastercard, we’ re embedding virtual card experiences that are intuitive and frictionless, making the processes of monitoring, reconciliation and invoice management feel as seamless as tapping a phone or booking a ride.
AI-driven automation has also proven to be a game-changer. Progress around the use of agents for invoice matching and predictive modeling has already made a tremendous impact.
Q: IN YOUR EXPERIENCE, HOW HAS THE PERCEPTION OF FINANCIAL RISK EVOLVED SINCE THE PANDEMIC? The pandemic opened a lot of eyes to not only financial risk but also supply chain risk. The band aids people had used to salvage different processes were finally coming to light, and they began investing in better end-to-end user experiences.
The idea of embedded payments, where payments become part of the workflow, became particularly timely. We’ ve also seen the move from reactive to proactive risk management and a more interconnected view on risk across supply chains, operations and finance – enabled by embedded finance.
supplychaindigital. com 97