In today’s rapidly evolving digital landscape, the shift toward cashless payments has been nothing short of revolutionary. From contactless cards to mobile wallets, the efficiency of cashless transactions is reshaping the way we do business. For small businesses, adapting to this trend is not just a matter of convenience, but a strategic imperative for staying competitive in an increasingly digital marketplace. Commerce Bank recognizes the significance of this transition and remains committed…

Business leaders are contending with a host of challenges in today’s dynamic economic environment. The labor market remains tight. Interest rates are staying high longer than many anticipated. Fast-evolving technologies are changing customer and employee expectations and putting pressure on companies to innovate quickly. Maintaining a focus on growth and profitability requires juggling numerous responsibilities and making wise decisions. The market leaders at Commerce Bank have experience navigating…

While the backlog of construction projects has begun to ease, builders and contractors continue to expect the industry to grow over the next six months. Associated Builders and Contractors surveyed its members in late February/early March and reported a Construction Backlog Indicator of 8.1 months in February, a decrease of 1.1 months from February 2023. Meanwhile, its Construction Confidence Index began to dip, but still showed expectations for growth in sales, profit margins and staffing levels.…

Your company likely has a detailed growth strategy that covers everything from marketing and sales to product development and strategic partnerships. But do you have a payments strategy? You might approach accounts payable (AP) and accounts receivable (AR) as a necessary part of doing business, with little innovation or strategy required. Perhaps you receive a bill, wait 30 days, then mail a check. Or maybe you send out an invoice and hope to get paid as soon as possible. If so, then it might…

Healthcare Finance Trends for 2024 by CommerceHealthcare® presents the bank’s annual outlook on major factors commanding leadership attention. Ten themes are identified from analysis of a broad spectrum of industry data. Technology is a top-three priority for 56% of surveyed providers, and 75% plan spending growth in the next 12 months. [1] Three information technologies are at the forefront in 2024: Robust system integration. CommerceHealthcare® sees its clients integrating various systems…

As digital transformation accelerates, businesses have renewed their focus on security, stability and fraud mitigation. That’s with good cause: The rapid movement of large amounts of money in today’s digital era provides ample opportunity for fraudsters to exploit any loophole they can find. This is further compounded by the continuous technological changes within corporations, which inadvertently open more avenues for these criminals. “If you think about the speed at which money can move…