Legacy systems are straining under modern demands, and finance leaders are recognizing that payments sit at the intersection of procurement, treasury, and strategy. FEI conducted an interview with Boost Payment Solutions CEO, Dean Leavitt, to explore how the B2B payments landscape is transforming, why traditional infrastructure is no longer enough, and how companies can turn payments into a true source of value.
FEI: How would you describe the current state of B2B payments?
Leavitt: We’re not just seeing an evolution in B2B payments — in many ways, it’s starting to feel like a full-blown revolution. It goes beyond adopting new payment tools. What’s happening is a broader mindset shift in how businesses view payments: not just as a task to complete, but as a strategic function that can drive efficiency, visibility, and financial performance.
There’s a growing recognition across the ecosystem, from buyers and suppliers to internal stakeholders, that the old way of doing things simply doesn’t cut it anymore. Legacy systems are straining under modern demands. Expectations are changing. And what used to be a back-office issue is now front and center, especially for today’s CFOs.
Traditionally, payments were the final step in a transaction often left to mid-level AP or AR teams to execute. But that’s no longer the case. The Office of the CFO is now leaning in, treating payments as a critical lever in procurement, treasury, and working capital strategy. The “savvy” finance leaders are beginning to understand that when payments are done right, they can unlock real business value.
You mentioned legacy systems are being challenged. Can you expand on this?
Many platforms processing digital payments today, especially card transactions, are still operating on infrastructure built in the 1970s. These systems were never designed to handle business-to-business transactions, particularly those involving $60 million corporate payments with thousands of invoice line items. They were originally built for consumer purchases like swiping a card to buy a pair of shoes, but not for enterprise-level complexity. They’re slow, inefficient, and ill-suited for the demands of modern commerce. They’re too expensive, take too long to process, lack adequate security, and fail to deliver the working capital advantages businesses now expect. Legacy rails simply weren’t built for today’s enterprise needs.
What we’re doing at Boost is effectively bending the rails. We’re taking infrastructure that was built for a very different purpose and adapting it to meet the needs of the modern B2B environment. That means enabling large, complex payments to be processed in a way that’s fast, secure, reliable, and rich in data. It’s a significant technical challenge, but it’s also what differentiates companies like ours. We're not trying to reinvent the wheel, we’re making the wheel work better for the enterprise. Payments should be a core part of procurement and receivables strategy, not viewed as an afterthought.
As finance leaders begin re-evaluating their payment processes, what questions should they be asking?
The key question is: Are we truly optimizing how we pay and get paid? That question alone opens the door to a range of considerations — economic, operational, and technical.
At Boost, we use a framework called P.A.R.T.S. to help answer that question. It’s how we define and measure true optimization across every layer of the B2B payment process for all parties involved. There are a lot of moving parts in any payment flow, but these five pillars serve as the foundation for transforming payments from a necessary function into a strategic advantage.
P: Pricing
Flexible, transparent pricing that works for both buyers and suppliers. Instead of relying on a one-size-fits-all model, pricing structures should reflect the unique needs of each party. This might include early payment discounting, negotiated card acceptance terms, or customized fee arrangements that support stronger business relationships.
A: Automation
Automation is the backbone of efficiency. The more manual work you eliminate, the faster, cleaner, and more scalable your payment processes become. Automation reduces errors, accelerates reconciliation, and frees up your internal teams to focus on higher-value tasks.
R: Reporting
Strategic payments require strategic data. That starts with clean, accurate, and structured remittance information. When reporting is detailed and timely, reconciliation becomes faster, decision-making becomes smarter, and visibility across finance functions improves. Good reporting turns payments from a cost center into a source of insight.
T: Timing
Timing matters, both for optimizing working capital and for maintaining strong supplier relationships. Buyers want to extend DPO. Suppliers want to accelerate DSO. With the right structure in place, it’s possible to support both goals, ensuring payments are delivered when expected and liquidity is managed on both sides of the equation.
S: Security
In today’s digital landscape, security is non-negotiable. Protecting sensitive payment and customer data is essential, but it cannot come at the cost of usability. Security needs to be built in, not bolted on. It must be embedded into every layer of the payment process to ensure protection without adding unnecessary friction.
If you’re not hitting all five parts of P.A.R.T.S., you’re not fully optimized. You might be functional, but you’re likely leaving efficiency, savings, and relationship equity on the table. This framework is how we design, implement, and evaluate every solution we bring to market, because in our view, that’s what modern enterprise payments require.
Can you walk through what technology works in practice to achieve that level of optimization for AP teams?
Commercial cards are often the vessel through which true optimization in B2B payments can be achieved, but it’s the infrastructure around them that determines whether that potential is fully realized. When paired with the right technology and partner, commercial cards can become a powerful tool for improving outcomes on both sides of the transaction.
For buyers, the focus is on maximizing card use to extend working capital, maximize card benefits, and drive potential rebates, all without disrupting existing workflows. And, most importantly, making card acceptance easy on their suppliers where they will want to accept and continue to accept. It’s important to find a virtual card program that supports card spend for buyers, but also makes that card acceptance piece easy for suppliers. It should be easily integrated within existing ERP systems and payment approval processes through issuer platforms or ePayables solutions. Payments should be executed automatically once an invoice is approved, eliminating the need to make manual card payments on supplier portals. This enables buyers to maintain control of their card usage, ensure timely payments, and optimize cash flow, all while minimizing manual effort.
On the supplier side, the challenge has traditionally been the burden of accepting and reconciling card payments. But with the support of straight-through processing (STP) technology, suppliers no longer need to manually handle card data or chase down remittance information. Payments are delivered digitally, securely, and with enriched data that can be automatically ingested into accounting systems. This significantly reduces reconciliation time and operational overhead, allowing AR teams to focus on higher-value initiatives.
Security is also a shared benefit. Virtual cards are highly secure because they are single-use, pre-authorized, and restricted by supplier, amount, or timing, offering peace of mind for both parties while reducing exposure to fraud.
For AR?
On the supplier side, the challenge has traditionally been the burden of accepting and reconciling card payments. We see in our research that high acceptance costs are a major deterrent to suppliers, and we hear this quite a bit. The right technology can optimize interchange, and also help beat the hidden costs of manual inefficiencies. With the support of straight-through processing (STP) technology, suppliers no longer need to manually handle card data or chase down remittance information. Payments are delivered digitally, securely, and with enriched data that can be automatically ingested into accounting systems. This significantly reduces reconciliation time and operational overhead, allowing AR teams to focus on higher-value initiatives.
Security is also a shared benefit. Virtual cards are highly secure because they are single-use, pre-authorized, and restricted by supplier, amount, or timing, offering peace of mind for both parties while reducing exposure to fraud.
What are some common misconceptions that prevent companies from modernizing their B2B payments?
There are quite a few. One of the biggest is the assumption that it’s too difficult or costly to change. A lot of companies believe that optimizing their payment systems requires massive IT overhauls, expensive consulting engagements, or significant operational disruption. And that’s simply not true.
Another major myth is around cost. We often hear that card payments are “expensive,” while ACH or wires are “free.” But when you break it down and look at the total cost, including manual processing, reconciliation, lack of data, and human error, those so-called “free” methods are anything but. The truth is, commercial cards, when implemented correctly, often deliver better economics and far more efficiency.
There’s also a belief that suppliers don’t want to accept cards. In our experience, when done right with minimal friction and clear value, suppliers are more than willing. The real issue is that most solutions force change on both sides. What works is a model that fits into how companies already operate. What we do at Boost is tailor our solutions around how our clients already operate. Too many solutions require businesses to rework their existing systems. That’s a non-starter. At Boost, we take the burden off the customer. We ask, “How do you do things today?” and we build around that. That’s a key differentiator and a big reason we’re able to drive adoption across both large enterprises and mid-sized businesses.
Let’s talk about working capital. How can digital payments help optimize both DSO and DPO?
One of the most powerful opportunities in B2B payments today is the ability to create a true win-win scenario between buyers and suppliers. For years, it felt like optimizing working capital meant one party had to lose. Either the buyer paid early and strained their own cash flow, or the supplier waited longer and struggled with liquidity. But with the right tools, especially commercial cards, companies can improve their working capital positions by optimizing both sides of the payment equation.
From the supplier’s perspective, that typically means reducing Days Sales Outstanding (DSO) to get paid faster. From the buyer’s perspective, it’s about expanding Days Payable Outstanding (DPO) to hold onto cash longer. What we focus on at Boost is creating that balance by helping both sides achieve their objectives without creating friction, often serving as the bridge between buyers and suppliers. And when you’re talking about working capital optimization, commercial cards are one of the most effective tools out there. They essentially act as an extension of credit to the buyer, allowing them to delay settlement with their card issuer, which is typically for 50 to 60 days, while still enabling the supplier to get paid almost immediately.
If you know how to use that structure strategically, it opens up a lot of opportunities. For example, we’ve worked with buyers who are leveraging early payment discount programs, like a 2 percent discount for paying within 10 days, and combining that with card-based payments. The supplier receives payment within the discount window, so they’re happy, and the buyer still holds onto their cash until the next billing cycle. That’s a textbook arbitrage play, and the impact on working capital can be significant.
Of course, none of this happens by accident. It requires the right partner, one that understands the nuances of commercial card programs, the operational and data requirements of both sides, and how to implement it all in a seamless way.
Which industries stand to gain the most from digital B2B payments?
There are roughly a dozen verticals where we consistently see a pressing need for payment modernization. These are industries where inefficiencies, fragmented data, and manual processes are not just pain points, but major operational roadblocks.
Take freight and logistics. This sector is notoriously complex, with multiple intermediaries, inconsistent formats for remittance data, and layered approval chains. Payments frequently get delayed, and reconciliation becomes a massive challenge as critical information gets lost or arrives separately.
Healthcare presents a different but equally frustrating scenario. Most think of healthcare payments in the context of patients, but we focus on the B2B side, particularly claims. Here, large payments flow from insurers and third-party administrators to providers of all sizes, from individual practitioners to large medical systems. The problem? The remittance advice is often incomplete, delayed, or disconnected entirely from the payment. Providers are left asking: “What exactly did we get paid for?” That level of ambiguity slows everything down.
Telecom is another area where fragmentation dominates. The problem isn’t just high volume, it’s the lack of standardization. Companies are juggling a wide range of billing formats and data protocols, even within their own organizations. That kind of inconsistency turns simple transactions into operational headaches.
In industrial manufacturing, it’s the legacy infrastructure that holds everything back. These businesses often rely on outdated internal systems that don’t talk to each other. When you factor in high invoice volumes, complex supply chains, and non-standard pricing models, the result is a deeply inefficient payments and reconciliation process.
Transportation, while similar to logistics, faces its own challenges. Antiquated systems and paper-based processes are still common. The result is delayed payments, lost visibility, and an overburdened back office.
Then there’s staffing and broader business services. Think facilities management, contract labor, or temporary workforce solutions. These companies deal with fluctuating headcounts, varied pay rates, and dynamic billing cycles. Every payment is unique, and each must be reconciled individually. That’s a nightmare without automation.
The common denominator across all of these industries is fragmentation. Too many manual steps, siloed systems, and outdated tools. These are precisely the environments where a digital, data-driven payment solution can drive real transformation. When you automate these processes and enrich the payment data, you reduce cost, speed up cash flow, and provide clarity across the enterprise.
You mentioned data as a critical component. How does Boost help companies turn payment data into usable information?
It all comes down to how data is delivered. You can have access to a vast amount of data, but it’s not helpful if you don’t have the ability to ingest, interpret, and apply it in a meaningful way. In today’s environment, it’s not enough to be data-rich. You have to be insight-rich, and that starts with delivering the right data in the right format at the right time.
At Boost, we work closely with each client, whether they’re a buyer or a supplier, to understand exactly which data elements they need and how their internal systems are configured to receive that information. We then deliver payment data in the precise format and protocol required. That level of customization is what makes reconciliation efficient and accurate. When you’re dealing with large transactions, such as multi-million-dollar payments tied to thousands of invoice line items, data quality and structure become absolutely essential.
But the value of good data extends well beyond reconciliation. Accurate, well-structured payment data gives companies real-time visibility into cash flow, supports compliance and audit readiness, reduces manual errors, and enables smarter financial decision-making. It helps finance teams close their books faster, optimize working capital, and identify trends that might otherwise be buried in spreadsheets. At the end of the day, data only becomes valuable when it can be turned into actionable information. That’s where we come in to close the gap between raw data and real business outcomes. Because in B2B payments, the difference between messy and meaningful often comes down to how well your data works for you.
How can payments become a true source of competitive advantage in today’s economic environment?
In today’s environment, where businesses are navigating margin pressure, supply chain volatility, and rising expectations around digital experiences, the way you pay and get paid has taken on new significance.
Payments have become a reflection of how agile and responsive a company truly is. When a business can offer flexible payment options, meet customers where they are digitally, and adapt quickly to evolving needs, that sends a strong signal. It builds trust. It strengthens relationships. And over time, that creates a real competitive moat.
From a buyer’s standpoint, the ability to support supplier-preferred payment methods without sacrificing control or visibility positions you as a partner of choice. Especially in industries with supplier scarcity or high switching costs, that kind of goodwill can strengthen your supply chain and reduce churn.
For suppliers, enabling digital payment acceptance isn’t just about faster funds. It’s about being easier to do business with. If a customer wants to pay by card and you can’t accommodate that, it’s a missed opportunity. Offering flexible options helps expand your reach, reduce friction in onboarding new customers, and strengthen long-term relationships.
It’s not just about efficiency anymore. It’s about resiliency. Companies are realizing that legacy payment methods like paper checks don’t hold up well in dynamic conditions. Whether you’re responding to rapid growth, geopolitical shifts, or evolving customer demands, you need infrastructure that can flex with you. At the end of the day, payments touch everything from customer experience, supplier satisfaction, cash flow, data, and security. Treating payments as a strategic function is no longer optional. It’s becoming a business imperative.