- Report 90% of organizations always use spreadsheets
- Four out of five have planned automation in their roadmaps, Autorek finds
- Companies must modernize the management of payment data
Almost all organizations (90%) still rely on obsolete calculation sheets and similar forms for some of their most vital commercial data, new research said.
Using inherited tools, companies work less effectively than they could be, slowing down and rushing on optimal growth, Autorek revealed.
Although four out of five (82%) have automation on their roadmaps, there are still challenges that prevent companies from using better tools.
Companies use inherited software, always
Only two out of five (43%) plan to implement automation in the next six to 12 months, with an additional fifth (20%) to do so within 18 months.
Autorek has acknowledged that calculation sheets offer workers familiarity, but they are disappointed with large amounts of manual treatment that can cause delays. Inherited systems also threaten conformity and competitiveness by introducing potential regulatory risks and increasing costs.
“Inherited systems and manual processes are a direct threat to operational efficiency. In turn, this threatens the compliance and competitiveness of the market, “noted the example of the payment of Autorek, Nick Botha.
The company has confirmed artificial intelligence and automation can help small and medium -sized businesses to adopt more modern approaches, but the desire to modernize is not respected equally clear advice.
The modernization of payment data management should be the first call for companies that seek to stimulate efficiency, improve precision and improve compliance. Today, 81% of organizations receive real -time payment data or once a day, with 83% processing, action and report of this data with the same frequency.
“Our research shows a disturbing disparity between the way payments are made and the way they are treated,” added Botha. “Payment methods have become more sophisticated, but the industry still depends strongly on the solutions inherited to treat transactions.”
