Post Covid-19: What executives are thinking and doing
- Traditional B2B businesses entering B2C and a growing interest in e-commerce. E-commerce has risen by 50% in Europe since March and we expect sustained online volume growth of more than 50% globally in 2021 and 2022. This will trigger the need for innovative collections solutions.
- A move toward real-time treasuries. CFOs are willing to monitor and be notified about real-time account balances. They believe that instant payments, application programming interfaces (APIs), and open banking will be the technologies/services with the biggest impact on B2B payments over the next two or three years.
- Usage of cash applications. Automated accounting and reconciliations systems, and e-invoicing technologies are expected to increase.
- Centralisation of cash management. Treasurers are willing to rationalise bank accounts; between 20% and 50% of treasurers intend to implement virtual accounts this year.