Recent research by FIS and Oxford Economics reveals that businesses are losing approximately $98.5 million annually due to various financial, operational, and technological discrepancies throughout the money lifecycle. The study highlights prevalent issues such as cyber threats, fraud, and regulatory complications faced by C-suite leaders from multiple sectors.
Source: Treasury Management International
Key Points
- 88% of respondents identified cyber threats as the top source of financial disharmony.
- Over 82% have adopted embedded finance solutions, resulting in an average 8.5% sales growth.
- 51% of businesses experience greater tension when managing payments and moving money.
- 37% encounter daily cyber threats, while 74% face significant threats monthly.
- Companies with dedicated fintech teams are more likely to see revenue growth from technology investments.
- AI and automation are growing areas of investment, with over half of firms exploring these technologies.
Why should I read this?
If you’re running a business or involved in financial operations, this article is an absolute must-read! It dives into some staggering financial losses linked to inefficiencies and risks in the money lifecycle. Plus, it offers insights on how to tackle these issues with the right tech strategies and investments in cybersecurity, helping you save cash and streamline operations. Don’t miss out on unlocking potential growth!