Adyen eliminates the slow cash flow and payment compensation damage for SME growth, time and resources

Adyen, the global financial technology platform of the election for leading companies, share research today that shows that small and medium-sized companies (SMEs) lead to significant operational challenges with the adverse effects of the slow cash flow and the payment and deposit of the payment.

Four out of five (80%) SME decision-makers report that the cash flow is slowing down negatively, in particular companies with annual sales of more than $ 10 million, according to the survey commissioned by ADYEN SME platform payments. This fight is reflected in broader economic trends. The latest data from Creditorwatch show a 47% increase in invoice payments in the past year, an important indicator of business stress. The hospitality sector in particular has achieved record slips and underlined the financial burden of many SMEs.

Payment efficiencies continue to have these challenges and force companies to devote significant hours a week to reconcile payments instead of focusing on growth. According to the examination, 73% of SME decisions identify the payment vote as a serious frustration, and companies lose an average of six hours a week in the event of accounting and reconciliation tasks.

RMS, a SaaS provider of Software-As-A-Service (SaaS) in the hospitality sector, has first-hand how these inefficiencies have an impact: “hospitality operators tell us that payment efficiencies can be an important operational burden that affects the experience of guest and productivity of the employees.”

“Many fight manual reconciliation processes and lack of integration between payment systems and other business tools. These challenges not only slow down daily operation, but also generate friction in critical customer touchpoints, from checking in to check out”. said Adam Seskis, CEO of RMS.

The SaaS opportunity: bridging of gaps in SME payment management

If the demand for solutions grows, the cash flow facilities facilitate, SaaS platforms that enable efficient payment management will become increasingly critical of the success of SMEs. However, many SMEs are still exposed to inefficiencies in the payment vote, although they turn to these platforms to receive support. While 70% of companies that use SaaS platforms, report that their primary SaaS platform offers consolidated reporting, 57% still rely on several SaaS tools, which means that additional complexity instead of optimizing the processes.

This shows a critical opportunity for Saa's providers to refine their offers and deliver really integrated solutions that remove the friction for SMEs. When looking at switching providers, almost three out of ten SMEs (28%) that use SaaS platforms indicate that they would switch to a new platform if it offers better consolidated reporting, during one of five (20%), improved risk management as a key factor. SaaS platforms that can offer a more uniform and more efficient payment approach are better positioned to keep and attract SME customers.

“By embedding automated, smooth payment solutions in our platform via RMS payment, we have helped companies to reduce an average of 10 hours a week in administration, which ultimately enables them to concentrate on providing great service.

Hayley Fisher, Adyens Country Manager for Australia and New Zealand, emphasized the opportunity for Saa's companies to create sensible changes: “Saa's providers have an incredible opportunity to offer basic software solutions and become real enables SME's success. By embedding payment technology that optimizes reconciliation and accelerating the cash flow, Saa's platforms can help to spend less time for administrators, and more time for their business.

By embedding the right payment functions, SaaS platforms can provide much more than just software – you can deliver the SME of the financial infrastructure required for SMEs.