The rapid adoption of digital payments has become a great challenge for finance teams. According to one report, teams spend as much as 40% of their time processing transactions. To blame is disparate, unstructured data, they say. In a separate survey, 48% of teams peg fragmented data as the largest impediment to closing their books.
Tal Kirschenbaum is well acquainted with the struggle. He worked a Melio, a business-to-business (B2B) payments platform for small companies, where he saw finance teams become the victims of their own success.
“Some companies have payments expertise and are able to invest R&D resources into building great internal solutions to handle the problem, but that’s not a feasible option for most businesses,” Kirschenbau...
