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The payments landscape is experiencing unprecedented change. The pressure is on for businesses to anticipate where drivers of change will come from and prepare accordingly.
The report provides insight into the areas of most concern to financial decision-makers and highlights the challenges that organisations have on the agenda.
Read the 2019 Payments Barometer to uncover:
Are real-time business payments set to soar?
Are companies being hit harder, losing more & recovering less when it comes to fraud?
Do businesses understand the impact of the changing payments landscape?
Whose responsibility is sanctions-checking anyway?
Now in its fourth year this annual index surveys over 400 financial decision-makers across Great Britain. The 2019 research highlights the lack of understanding around new payment initiatives and the escalating impact of payment fraud on businesses.
Key highlights over the last three years include:
The impact Brexit has had as a driver of change
Small to medium businesses claiming slow payer ethic as their greatest payment challenge
Over half of business revenue was negatively impacted by financial fraud
agree that regulatory changes will impact payment processes in 2019
say their business recovers up to only 20% of their losses
say their businesses have been impacted by fraud in the last 12 months
admit to paying suppliers late
is the average loss through fraud in their business
say they will be using real-time payments by 2020
Source: 2019 Busines Payments Barometer
This episode features Marcus Hughes as he analyzes what this year’s results mean in the Payment insights: Driving payment efficiency section of the report.
It’s important for any organisation to not fall behind. This episode looks at the trends in business payments for 2018/19 and how to make the most of knowing what other organisations are worrying about or investing in.
The results are in. Now in its fourth year, the annual Business Payments Barometer surveys over 400 financial decision-makers across Great Britain. This infographic highlights some of the key statistics of this year’s results split between organization sizes.
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