The world is full of inefficiencies, some more grating than others – such as B2B transactions’ ongoing reliance on paper for payments to the ongoing “tax” fraudsters and cybercriminals are exacting from businesses and financial institutions. But the good news is that where there are inefficiencies, there is a business to be built in solving for them – whether that inefficiency is in trying to buy a home for the first time or figuring out what to do with that designer outfit you bought, but never wore. Troubles may seem unending, but efforts to solve for them are equally persistent.
240 million: The number of invoices that run through Intuit's QuickBooks platform annually.
13 million to 17 million: Number of millennials forecast to purchase a home by 2022.
72 percent: Share of millennial consumers who rank homeownership as their top future priority.
70 percent: Share of wardrobe items in the average woman’s closet that goes unworn.
9.3 percent: Uptick in the cost of fraud for U.S. financial services firms in the last year.