Having polled over 2,500 leaders in payments, finance, and product sectors globally, we've garnered insights into their 2023 strategies for revenue enhancement and cost reduction. Our comprehensive report features exclusive survey data, industry leader insights, and best practices for effective implementation of growth strategies.
Navigating Growth Amid Economic Challenges
In the face of the prevailing economic downturn, businesses worldwide have experienced its repercussions. However, resilient leaders are actively pursuing growth and cost-cutting strategies by:
- Enhancing the checkout experience through localization for revenue maximization.
- Integrating financial services to elevate both revenue streams and customer loyalty.
- Automating financial tasks to redirect engineering and finance teams towards strategic endeavors.
- Streamlining software programs to centralize data, fostering efficiency and reducing costs.
Key Insights from Extensive Research
Insights Unveiled from a Survey of Over 2,500 Leaders in Payments, Finance, and Product Domains
Business Leaders Share Perspectives on Enhancing Revenue and Reducing Costs: Focusing on Checkout Optimization, Embedded Finance, and Back-Office Automation.
Localization of Checkout Experience
82% of companies with plans for international expansion prioritize localizing their checkout processes, emphasizing the importance of tailored experiences for global audiences.
Integration of Financial Services
75% of global companies, irrespective of business models, are committed to directly embedding financial services into their products, showcasing a pervasive trend in enhancing revenue streams and fostering customer engagement.
Software Provider Consolidation
70% of businesses intend to streamline operations by consolidating software providers, with a specific focus on B2B payments and invoicing, indicating a strategic move towards efficiency and cost reduction.
Balancing Operational and Strategic Work
60% of finance leaders acknowledge a shift over the past three years, with their teams spending more time on operational tasks and less on strategic initiatives. This emphasizes the need for effective back-office automation to redirect efforts toward strategic objectives.