The Growth of B2B Sector in Indonesia is as Significant as its Challenges
People often associate payments with consumer transactions, such as paying for meals or buying furniture. However, it is worth noting that a large volume of payments is actually made between businesses. According to a report by Research and Markets, the size of the B2B payments market in Indonesia was approximately $63.5 billion in 2020. This market is expected to grow at a CAGR of around 7.9% from 2021 to 2026, reaching a value of approximately $94.3 billion by 2026.
The growth of the B2B payments market in Indonesia is driven by several factors, including the increasing adoption of digital payment solutions, government initiatives to promote digital transactions, and the growth of e-commerce and other digital business models. As a result, there are likely to be many opportunities for companies operating in the B2B payments space to expand their offerings and capture a share of this growing market.
However, This growth is proportional to its challenges.
B2B payment often involves invoices. Depending on the industry, B2B businesses may process up to 1,000 invoices per month. However, many B2B businesses in Indonesia still rely on manual processes for invoice reconciliation. Here are some of the pain points /challenges B2B business face related to the payments/invoices:
- Reconciliation takes more than 50% of finance team’s valuable time
Each payor has more than one invoice, and each invoice can be paid using multiple payment methods. Matching these combinations manually take significant amount of time. - Prone to human error, especially when reconciling multiple invoices with multiple payors and payment methods (including cash payments)
- Manual invoices take more time to process, causing delay in billing the customers, which results in delayed payments and cashflow crunches
- High-value disbursement takes time and has cutoff time, which delays the speed of getting the business done
- Transitioning to a digital solution takes time and effort, not all solutions in the market might fit into all custom requirements a business can have
All of these problems can actually be solved with just one integration, with Durianpay’s end-to-end solution for B2B.
Solution 1: Durianpay B2B invoice and checkout for smarter invoicing and faster payment collection
Durianpay offers B2B invoice and checkout solution that can be tailored to meet the specific needs of your business:
The solutions above are available to be implemented in two ways:
- No-code solution: B2B invoice dashboard
Everything is visible on one dashboard, no integration is needed. Once you are registered with Durianpay, you can use this feature right away. - API integration
Some B2B businesses may have already had websites or platforms. Durianpay allows businesses to automate the process of invoicing right on their platforms by integrating with existing systems through ready-to-use API collection. You can explore more through our Invoice API docs.
Solution 2: Send high-value payment to vendors’ or suppliers’ accounts in real-time
B2B businesses send payments in high value (up to billions of IDR). In most cases, these payments need to be sent in real-time as well especially if it’s related to perishable goods or fresh ingredients. Moreover, different vendors or suppliers can have various bank accounts as transfer destinations.
Oftentimes, B2B businesses need to multiple bank accounts to facilitate this need or use methods for sending high-value disbursements that are not real-time.
- Real-time transfer to more than 100 banks and major e-wallets
Available transfer destination has included regional banks all over Indonesia. Transfer destination accounts are verified in real-time. - Automatically split disbursement for large-amount transfer
Each bank has its own limit of transactions. Durianpay’s system will automatically split the items to be transferred should those exceed the transaction limit accordingly. - Separate roles and OTP code for B2B finance team to create and approve fund transfers securely
Secure fund transfer by implementing maker and approval role that can be assigned to accounts registered under your company. Maker can only create transactions but is not allowed to approve them. Approver can only approve but is not allowed to create transactions. Approver can request for revision by rejecting the fund transfer draft and adding notes of items to be revised. This ensure transaction can only be done with dual control. Also, Durianpay provides OTP when approving a disbursement.
Solution 3: Accept large-amount payments from top payment methods with one integration
Additionally, Instead of connecting with multiple payment service providers, your business can accept payments from clients using top 5 e-wallets (GoPay, OVO, ShopeePay, DANA, LinkAja), Virtual Account, QRIS, cards, OTC (over the counter) – and many more – through a single integration with Durianpay.
- Ready-to-use invoice link for no-code solution
A unique URL that is generated by Durianpay and can be shared via email, messaging apps, or any other digital communication channels. To use an invoice link for B2B transactions, the payer simply clicks on the link and is directed to a secure payment page to complete the transaction using their preferred payment method. - Flexible checkout page for your B2B websites or application
Durianpay offers flexible checkout page through API integration that can be integrated into website or mobile application, allowing customers to complete their purchases without leaving the website or app, which can increase conversion rates and customer satisfaction.
Once you have integrated with us, customers and tech support will also be provided 24/7 for faster issue handling. Durianpay has become a go-to platform for many businesses in need of reliable payment solutions. Join the likes of Carsome, eFishery, BRIK, Broom, GoWork, and many more in solving B2B invoice and payment challenges to scale your businesses!
