Digital Payments Technology: Investing in Payments Systems for the Digital Economy

Businesses have gone through several stages of technology spending over the past two years, starting with the disruption caused by the pandemic. In 2022, technology investments were more likely to be influenced by economic uncertainty and concerns about inflation.

A key area that CFOs are focusing on is digital payments technology. With the rise of the digital economy, traditional payment methods are being replaced by faster, more secure, and convenient payment systems. Investing in digital payments technology is no longer just an option, but necessity.

The report,Digital Payments Technology: Investing in Payments Systems for the Digital Economy, details how top CFOs across retail and manufacturing assess the benefits their organizations can realize through modernization and digitization.

• CFOs are prioritizing enhancements to their AP and AR systems, with focus on modernization and cutting costs
• 81% of companies are investing or planning to invest in AP in the near future
• 77% of manufacturers and 47% of retailers say the most important reason for investing in improvements to AP systems is to improve the payment process