BOSTON, April 14, 2021 (GLOBE NEWSWIRE) — As the global economy becomes more “borderless,” one of the hardest things for businesses to do when expanding internationally is getting paid. In fact, a new survey of finance professionals commissioned by Flywire, a global payments enablement and software company, found that complexities with collecting cross-border payments is impacting their ability to scale their business internationally. Furthermore, 9 out of 10 respondents who have a role in handling the inbound payments at their companies said global expansion efforts could accelerate if businesses could deal with foreign exchange rates in an easier way. These same respondents report revenue loss due to operational inefficiencies with receivables processing.
For its new report, Accelerating International Business Growth Through Simplified B2B Payments, Flywire surveyed 301 CFOs, VPs of Finance, Controllers, and other executive-level finance professionals to better understand the challenges and opportunities when it comes to receiving business payments. The respondents work at middle-market organizations with an international footprint across the manufacturing, technology, consumer goods and professional services industries.
“As a global payments company serving B2B businesses, we know that when used effectively, payments can be a key enabler of global expansion. However, the status quo for many international businesses is still legacy infrastructure,…
