In today's rapidly evolving business landscape, finance leaders face increasingly complex challenges, ranging from managing budgets and cash flows, to attracting and retaining staff, to digitally transforming their businesses – all while ensuring compliance with regulatory standards.
To address these challenges and stay competitive, CFOs and financial leaders are turning to unified SaaS solutions designed to streamline financial operations, enhance collaboration, and provide real-time insights for more informed and faster decision-making.
Through its partnership with IDC, Billtrust commissioned a global survey of 622 business executives which illuminated a range of challenges in the complex order-to-cash process. The research showed that critical financial functions are often significantly hampered by legacy systems and processes.
This results in a myriad of data, process, customer, time, payment and cash management inefficiencies, hurting both top-line growth and bottom-line profitability.
The challenges facing today's CFOs and financial leaders
The research also found that “77% of respondents agree that digital transformation across the order-to-cash process is critical to the survival of the organization” and that “manual processes have a direct impact on a business’ bottom line, while 94% of respondents said that manual OTC processes would have negative impacts on the bottom line of their businesses. So, the mandate is clear that now is the time to leverage AI and AR automation technologies while offering an optimal approach for moving finance forward.
In addition to the aforementioned IDC research, Billtrust also conducted several customer roundtables across the country in the early fall and uncovered key insights about the future of financial process automation and how tomorrow’s leaders can digitally transform their organizations.
Key takeaways included the need to: optimize system-updating procedures so platform changes occur in real-time, enhance the user experience for customer self-service payments and better account management, and continue to innovate in AI, analytics, reporting and cross-platform capabilities.
This insight, combined with in-depth customer interviews about what’s needed for the office of the CFO and the next generation of financial leaders, led to the new Billtrust brand promise to Move Finance Forward. The statement encapsulates the Company’s commitment to re-engineering the order-to-cash process, simplifying and elevating the customer experience, and helping companies achieve financial objectives faster.
Move finance forward: Leveraging unified SaaS for improved productivity and real-time insights
As a B2B order-to-cash and digital payments market leader, Billtrust helps its customers Move Finance Forward in many ways: from centralizing accounts receivable (AR) processes, to unifying invoicing, payments, cash applications, credit and collections, so that finance teams can easily work with each other or other parts of your organization to coordinate work, streamline processes, improve cash flow and boost productivity.
In addition, with advanced AI and analytics capabilities, finance leaders can reduce manual efforts and errors, address skill gaps, better manage risk, determine creditworthiness of buyers and develop predictive insights on payments, cash flow and profitability.
This is the clarion call for modern CFO’s: empower, guide and inspire your teams with the tools and technology to propel growth, improve productivity, enhance customer advocacy and move finance forward.