Retail CFOs Invest in Payments Tech to Streamline Operations

Forty-six percent of manufacturers that have previously invested in liquidity forecasting and management applications are still making these investments or plan to continue doing so. This continued CFO investment is a good indicator of the extent to which manufacturers and retailers are counting on finance system improvements to help weather economic uncertainty and keep pace with the economy’s digital shift.

CFOs who wish to gain a stronger hold of cash flow management, cash flow forecasting and management of working capital are guiding these spending plans.

In “Payments Technology’s Future: Retailers, Manufacturers Seek Better Workflows,” a PYMNTS and Corcentric collaboration, PYMNTS surveyed 250 CFOs from retail and manufacturing companies to assess the investments they plan to make in payment and finance systems.

A few of our findings include:

• Twenty-seven percent of manufacturers are investing in accounts receivable systems to help recover from pandemic-triggered business disruptions.

• Thirty-one percent of manufacturers that have not previously invested in finance and payments applications are now making investments or planning to do so.

• Forty percent of manufacturers that previously invested in inventory management applications are continuing to make investments in this area or plan to do so.

CFOs have adjusted their investment priorities for payment and finance systems since the pandemic’s onset, which has helped position their companies for the next stage of digital commerce.

To learn more about how manufacturing and retail companies are investing in payment and finance systems amid the world’s continuing digital transformation, download the report.