Payables and Receivables at Midsize Companies: The Not-So-Forgotten Middle
Report Summary
Payables and Receivables at Midsize Companies: The Not-So-Forgotten Middle
Banks and third-party processors will find opportunities to meet midsize companies’ currently unmet needs.
Boston, September 26, 2012 – A new report from Aite Group shines light on midsize companies' monthly payables and receivables; the number of invoices that they pay each month; the types of payments they use; and their challenges, preferences, and desired solutions. Based on a Q1 2012 Aite Group survey of 240 U.S.-based companies of all revenue sizes and on data gathered from a September 2012 Aite Group-delivered webinar, the report provides valuable insight to banks and third-party processors that seek to assist midsize companies.
Midsize companies are a significant target of many banks' treasury or cash management departments, particularly regional and community banks in the United States. Midsize companies, like all others, continually seek to reduce non-revenue-generating operational costs, payables and receivables processing included. Electronic invoicing, an obvious way to slim such costs, is a growing trend. Though midsize companies tend to build in-house solutions for it, the area is often outside their expertise, which means that financial institutions are not meeting midsize companies’ every need.
“Banks and third-party processors can assist midsize companies with their challenges by offering products and services designed to streamline payments and receivables processing, allowing midsize companies to outsource some or all of their processing,” says Nancy Atkinson, senior analyst with Aite Group and co-author of this report.
This 30-page Impact Note contains 25 figures and four tables. Clients of Aite Group’s Wholesale Banking service can download the report.