Finding No. 1

Current A/R processes are holding back profitability

Here's an eye opening stat:

92% of those surveyed agree that if they had a better solution for A/R, they could increase their earnings per share – with 61% strongly agreeing. The cash conversion cycle is one of the most widely deployed measures of CFO effectiveness. It seems the vast majority of those surveyed are very focused on holding onto cash for the optimal amount of time before paying bills, and not paying enough mind to how efficiently they bring it in – maybe not by choice. Some 93% agree that the company’s focus is on A/P when it should be on A/R, and 97% that the finance department itself is payments focused when it should be strategy-focused.

0%

Believe they could increase earnings per share for their company if they had a better A/R solution

Finance professionals know they’re losing time and money on A/R processes

0%

Say their company has lost money due to time spent dealing with A/R

0%

Lose 4-5% of revenue each month to operational inefficiency

0%

Lose 6-10% of revenue each month to payments processing inefficiencies

Global and non-global companies lose money due to operational inefficiencies with payments processing

X

Global companies are twice as likely to lose 6-10% in revenue on payment processing

0%

Global companies lose 6-10% in revenue on payment processing

0%

Non-global companies lose 6-10% in revenue on payment processing

Managing inbound payments takes time away from strategy

0%

Spend 6-10 hours a month on payments that could be spent on strategy

0%

Spend 11 hours or more a month on payments that could be spent on strategy

I want a payment process that is easy to operate and goes across borders.

Role level influences how finance leaders view payments inefficiencies

X

VPs and higher are twice as likely to think their teams spent more than 20 hours per week on payments that could be spent elsewhere

0%

VPs and higher think payments take 20 hours a week that could be spent on strategic endeavors

0%

Directors and below think payments take 20 hours a week that could be spent on strategic endeavors

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