Keeping pace with corporate payments: What matters most to financial leaders?

Feel like you’re struggling to keep up with corporate payments? 

You’re not alone – the way businesses handle payments can feel like a marathon.  

Just when you think you’ve found your stride, digital transformation accelerates and security threats grow, leading you to reassess your priorities.  

Finance leaders aren’t just trying to keep up. It’s about endurance, resilience and keeping pace for the long haul. 

We wanted to get to grips with these shifts and understand exactly what matters most to finance leaders today. So we surveyed ~500 finance leaders (see key findings) across Europe and the US – to uncover the factors driving their decision-making on the road ahead. 

Their responses highlight six key areas that are shaping corporate payments, now and in the future. 

Can you guess what they are? 

Let’s dive in. 

1. Security and reliability: The non-negotiables of every race

It’s fair to say that security has become the backbone of corporate payment strategies.  

Minimizing risk was a top-reported challenge in the survey. Understandably then, finance leaders are keen on using payment solutions that help mitigate these risks in their payment workflows.

Our survey revealed: 

• 62% of finance leaders prioritize security above all else. 
  
  
• 58% value reliability as their top payment system requirement. 
  
  
• 36.5% seek seamless integration with their existing business tools to maintain efficiency and security. 

2. Innovation: A competitive advantage 

Staying competitive isn’t easy.  

To keep in the race – or, better still, ahead of the race – businesses are embracing cutting-edge payment solutions that make life efficient and decision-making easy. 

Our survey revealed: 

• 54.8% of finance leaders are actively tracking new payment methods to future-proof their operations. 
• 68.9% see their corporate payment provider as a driver of innovation.  

And the most in-demand innovations include: 

• Real-time payment processing. For reducing transaction delays and improving cash flow. 
  
  
• Comprehensive data analytics. To provide actionable insights for informed decision-making. 
  
  
• Integration with other business systems. For streamlined operations, reduced manual work, and cross-departmental collaboration. 
  
  
• AI and machine learning integration. To enhance security and reduce financial risks. 
  
  
• Blockchain technology. For increasing transparency and security in transactions. 

3. Automation: The ultimate endurance booster 

Automation is a bit of a buzzword covering a lot of different areas.  

What does it mean in terms of corporate payments?  

Automation is reshaping corporate finance by eliminating manual processes, reducing human error and freeing up valuable time for strategic decision making. 

And our survey numbers don’t lie: 

• 62.9% are automating fraud prevention and risk management. 
  
  
• 40.8% are investing in automated working capital and credit solutions.

4. Data-driven decisions: For adjusting your strategy on the go 

Access to real-time data is revolutionizing how businesses control their finances, making way for better cost management and smarter spending decisions. 

Our survey showed that: 

• 41.2% of finance leaders use payment data to manage costs and optimize budgets. 
  
  
• 28.4% monitor purchases to prevent overspending. 

With finance teams increasingly relying on data analytics, corporate payment providers that offer intuitive, real-time insights could lead the market. 

It’s the most effective way to streamline operations – and make decisions you believe in. 

5. Regulations: Keeping you on your toes 

The regulatory environment of corporate payment continues to change. But it seems that businesses are keeping themselves in the know. 

Our survey reflected this: 

64.2% of financial leaders felt they were quite familiar or very familiar with the current regulatory environment in the corporate payment space. 

And the sources they use to stay updated are quite broad: 

• 48.3% have a dedicated department in their company that report on such regulations 
  
  
• 45.6% get updates through trusted online news sites  
  
  
• 44.4% leverage industry events to learn of changes

6. Sustainability: In it for the long run 

Sustainability is an important consideration for decision makers – especially when it comes to corporate payments.  

Our survey revealed:  

• 35.7% of businesses put sustainability at the forefront when making financial choices, compared to just 3.4% who claim it is not important at all. 
  
  
• A significant 62.5% of companies are demanding transparency around the environmental impact of their financial activities, asking payment providers to be open about the footprint their solutions leave behind. 

The takeaway is that there’s a clear preference for transparency and reporting in the corporate payment space - whether it’s the desire to make environmentally-informed financial decisions or the need to report on sustainability topics. 

Whatever the case, insightful data relating to environmental impact of payment solutions - carbon footprint metrics and the like - is in demand. 

Why AirPlus?  

When it comes to smarter, simpler corporate payments, AirPlus has you covered.  
 
Our solutions make managing your spending easier and more efficient, with everything from central accounts and global credit cards to flexible virtual payments. 

What makes us different? We offer total transparency, world-class data and seamless integration, so you get the insights you need to make better financial decisions.

Let’s make payment management simple, smart, and sustainable together. 

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Banner photo by DavisShared/peopleimages.com on Adobe Stock