A surprisingly large share of even the biggest global companies depend on low-tech solutions like spreadsheets to manage their cash. A new class of tech firms is seeking to change that.
Forty-six percent of companies with $648 million to $1.3 billion in annual revenue still rely primarily on Microsoft Excel or its competitors to mange their payments, cash forecasting, foreign-exchange management and financing. That rises to 55% for firms with less than $129 million in sales.
This has created a significant opportunity for business-to-business, or B2B, fintechs that specialize in helping firms with treasury management.
In a new report from BI Intelligence, we look at the different areas of treasury management, highlight problems in those areas with which existing solutions are struggling to cope, and examine how B2B fintechs are helping firms of all sizes to overcome these challenges.
Here are some of the key takeaways:
- B2B fintechs provide solutions that connect easily to multiple existing systems to access data, and then automatically create budgets, forecasts, and data visualizations.
- B2B fintechs can help larger firms that are struggling with multiple systems, as well as small and mid-size firms that have found legacy treasury management solutions to be too expensive.
- The largest opportunity for B2B fintechs lies with smaller companies for now.
In full, the report:
- Explains the current state of the corporate treasury management market.
- Highlights the problems firms of all sizes currently experience in treasury management.
- Outlines the size of the opportunity for B2B fintechs in this space.
- Provides case studies of fintechs helping firms with treasury management.
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