Survey: strong payments strategy can support business resilience

Byfuturedxb

Finance leaders are preparing for growth, research says

Advanced payment strategies implemented by finance leaders may increase business resiliency, according to a recently released research report from U.S. Bank and Elavon.

The newly released research elevates the idea that implementing forward-thinking payments strategies is key to ensuring finance leaders are more resilient and better equipped to handle an evolving business environment.

The Payments Strategy Research Report surveyed 250 finance professionals who reported they increased payment security measures to boost organization resilience.

In fact, 71% of the C-Suite finance leaders surveyed indicate that a strong, forward-thinking payments process is crucial to their strategy to become more resilient organizations, better enabling their businesses to adjust to, and recover from, change.

“Improving payment-acceptance processes is a cornerstone of how they plan to become more resilient,” the research report said.

Driving payment operations strategies are concerns about security and fraud management, consumer preferences, competition and economic uncertainty.

Other key survey findings include:

  • 72% said it’s essential to allow people to pay with their preferred payment method.
  • 70% of finance leaders said keeping payment-acceptance costs low is of high importance in controlling costs.
  • 66% of respondents said that a more efficient payment process would improve consumer loyalty and satisfaction.
  • 63% of finance leaders said that improving payment efficiency would free up their employees for more strategic projects and initiatives.
  • 72% said transaction security is the No. 1 factor in selecting a payment acceptance solution and said it is crucial for consumers and suppliers to feel the payment process is secure.

Read U.S. Bank’s latest research report to learn how finance leaders are preparing for economic growth amid quickly-evolving payments technology and consumer demand for simple, fast and secure options.