Inefficient cross-border payments are costing companies time and money – Tearsheet

Businesses with large ambitions can’t absolutely scale in the event that they’re shedding money working with clunky, antiquated techniques to course of worldwide payments.

A majority of finance executives — 55 p.c —  reported month-to-month income losses between 4 and 5 p.c due to their present cost processing techniques. Nearly 1 / 4 stated they misplaced as a lot as six to 10 p.c. 

These findings have been printed by Flywire, a world payments enablement and software program firm. About 300 CFOs, VPs, controllers, and different executive-level finance professionals reported that issues of their worldwide cost assortment processes have been affecting their enterprise’ capacity to scale internationally. 


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