PYMNTS.com
Report in collaboration with Corcentric

Business Payments Digitization: The Fast Track to Payments Systems Upgrades

A look at how companies accelerated projects to digitize payments during the pandemic and the benefits they’re seeing as a result.

What the report covers:

The push to adopt new payments technology was stronger than ever when the pandemic hit. Companies, especially larger ones, moved quickly to digitize payments platforms.

According to Business Payments Digitization: The Fast Track to Payments Systems Upgrades, a Corcentric and PYMNTS collaboration, 71% of CFOs say their firms accelerated the digitization of their payments systems following the pandemic’s onset, and 65% of the CFOs involved in these fast-tracked projects say the pandemic strongly influenced their decision to do so. Speeding up digitization led to efficiency gains, improved management of working capital, and better data security.

What the report covers:

  • Why larger companies lead the pack when it comes to digitization efforts
  • The pandemic’s influence on digitization projects
  • The positive impacts of digitization
  • Why companies are looking to digitize their payments platforms in the next year