During the two years of disruption prompted by the pandemic, businesses of all sizes looked at the economic landscape and considered how they should respond to the extraordinary period of uncertainty. Many companies used the pandemic as a catalyst for digitizing their payments operations, and large businesses were the most aggressive with these plans.
Now, businesses of all sizes are undertaking, or planning to initiate, this transformation. Their digitization programs are helping them become more efficient, improve collaboration with other organizations inside the company and strengthen their external ties with customers and suppliers.
These are among the key findings from Business Payments Digitization: Large Companies Set The Pace, a collaboration between PYMNTS and Corcentric. The report is based on a survey of 400 chief financial officers (CFOs) who represent United States companies from five industries: manufacturing, finance, retail, transportation and healthcare. The survey was conducted from Aug. 16,