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Corporates unconvinced by e-payments

20 August 2002  |  1111 views  |  0 user laptop

This market research study from the New York Clearing House identifies five key barriers to electronic payments implementation at large, medium and small companies.

The survey of one hundred fifty-five companies targeted treasurers and other financial professionals in charge of the payments area within their companies. This survey was followed by nine focus groups of executives and senior managers responsible for company finances and accounts payable/receivable.
While company representatives agree that the trend is toward electronic payments, for many there is little incentive to move quickly in this direction.
Corporates cite lack of information with payments, loss of float, security fears, and difficulties of integration with legacy accounting systems as key barriers that must be overcome.

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