The EY report, Fast forward to the future of payments, predicts that artificial intelligence and machine learning will spread to all areas of the payment value chain, providing better decision-making, efficiency, security and innovation.
Of course, that is the best-case scenario. However, in the interim the Finance function and the Chief Finance Officer, are right to remain vigilant, cautious and concerned about the security and efficiency of their global payments systems. This is evident in a recent CFO Research survey of 150 senior finance professionals which revealed that 70% are much more concerned about payments fraud occurring within their organizations today than they were two years ago.
And for good reason: despite the plethora of new software and systems available, payments fraud recently reached an all-time high.
As companies grow internationally and develop new or more complicated supply chains to support new business lines, payments efficiency can become more difficult to achieve.
In this joint effort by CFO Research and Kyriba, we look at not only what keeps CFOs awake at night, but what some of the leading finance professionals, are doing to improve the security of their payments processes and systems, without introducing inefficiencies in the process.
Click here to download the report, What’s Keeping CFOs Up at Night: Payments Security and Efficiency, to find out how you too can sleep better at night.
You may also be interested to learn about the best practices for mitigating in the FutureCFO special: How CFOs mitigate the risk of payments fraud
