The preferred speed setting for everything in the era of cloud connectivity, mobile and digitization is “faster.” Suppliers want buyers to pay their invoices faster, employees want to be paid faster – even people waiting for their take-out order want their delivery guy to go faster. But while the demand (and need) for speed is apparent and growing, the pace of actually getting everyone into position to race is a bit more time-consuming than one might imagine. Just because the technology is ready to rev up the speed of transactions doesn’t necessarily mean all the players in the market are quite prepared, as of yet, to fully pick up their pace.
$140 million: The amount Gusto has raised to further develop its payroll solution.
66 days: The average amount of time a U.K. supplier waits for a buyer to pay an invoice.
46 percent: Share of food delivery orders that are still phoned in directly to restaurants.
30 percent: The average increase in revenue restaurants see from take-out when they flip on Grubhub delivery solutions.
1 percent: Share of the payroll market Gusto currently controls.