• About
  • Subscribe
  • Contact
Wednesday, April 30, 2025
    Login
FutureCFO
  • Business Insights
    • Competencies and Capabilities
    • Digital Transformation
    • Leadership and Roles
    • Mergers and Acquisitions
    • Risk and Regulation
    • Strategies and Tactics
  • Operations
    • Audit and Compliance
    • Finance Accounting and Reporting
    • Operational Accounting and Control
    • Tax Management and Optimization
    • Treasury and Cash Management
  • Technology
    • Artificial Intelligence
    • Automation
    • Big Data
    • Blockchain
    • Business Applications
    • Cloud, Platforms and Ecosystems
    • Future Technology
  • Resources
    • Whitepapers
    • PodChats
    • Videos
  • Events
  • Awards
  • Knowledge Hub
    • Sustainable Finance
No Result
View All Result
  • Business Insights
    • Competencies and Capabilities
    • Digital Transformation
    • Leadership and Roles
    • Mergers and Acquisitions
    • Risk and Regulation
    • Strategies and Tactics
  • Operations
    • Audit and Compliance
    • Finance Accounting and Reporting
    • Operational Accounting and Control
    • Tax Management and Optimization
    • Treasury and Cash Management
  • Technology
    • Artificial Intelligence
    • Automation
    • Big Data
    • Blockchain
    • Business Applications
    • Cloud, Platforms and Ecosystems
    • Future Technology
  • Resources
    • Whitepapers
    • PodChats
    • Videos
  • Events
  • Awards
  • Knowledge Hub
    • Sustainable Finance
No Result
View All Result
FutureCFO
No Result
View All Result
Home Operations Treasury and Cash Management

The definitive link between spreadsheet use and late payments

FutureCFO Editors by FutureCFO Editors
March 8, 2022
Photo by Tima Miroshnichenko from Pexels

Photo by Tima Miroshnichenko from Pexels

A Sidetrade study, Cash Culture Pulse 2022, revealed the detrimental impact spreadsheets have on a business team’s effectiveness. Firms interviewed from across the UK, Europe, US, Asia and the Middle East, revealed that 42% of finance teams still heavily reliant on spreadsheets reported a high ratio of late payments overall (15%).

Conversely, this number was almost halved (22%) for finance teams that use cash and credit management software.

The puzzle here is that of the 87% of finance teams that rely on spreadsheets to manage accounts receivables, 72% claim to be dissatisfied with the process. Contrast this to the 80% satisfaction rate among those that use a dedicated solution to manage this process.

AI in cash & credit management

While 61% of finance departments are not taking full advantage of new technologies, this trend is expected to change in the coming years, as 79% of respondents say Artificial Intelligence and automation will be a strategic priority to generate cash faster and more efficiently.

In the fallout from the pandemic, cash culture has been positioned higher on business leaders’ agendas, as companies look to secure and accelerate cash flow generation and establish a 360° vision on the whole Order-to-Cash cycle.

This paradigm shift provides seamless collaboration among finance, sales and support functions and ensures that finance has the best technologies available.

Philippe Gangneux

Sidetrade’s CFO, Philippe Gangneux, commented that spreadsheets have an increasing number of limits and complexities. Now intelligent technologies support changing methods of delivering enterprise business capabilities.

He opined that CFOs have a vested interest in including these intelligent technologies in their new roles and new challenges, or risk missing opportunities to optimise value and drive growth. The modern CFO should now take advantage of AI technology to streamline financial processes, particularly in cash management, and receivables.

He further argued that there are a whole host of other ways in which spreadsheets prevent finance leaders from reaching their potential; they limit an organisation’s ability to instil a cash culture, they don’t provide any intelligent recommendations, and they cannot promote data centricity and visibility across the business.

“The crisis we have been through has revealed the importance of securing cash flows, and more and more financial leaders are recognising the benefit of working with a dedicated technology for enhanced Order-to-Cash performance,” he concluded.

Related:  Cash in times of crises: Lessons from 2020-2022
Tags: cash managementcredit managementSidetradespreadsheets
FutureCFO Editors

FutureCFO Editors

No Result
View All Result

Recent Posts

  • Modernising Days Sales Outstanding (DSO) for 2025
  • A Day in the Life: Shelly Maneth from Red Hat Asia Pacific
  • Singapore Inc: Expanding horizons in ASEAN and beyond
  • Technology essentials for the modern CFO
  • Transforming budgeting through automation

Categories

  • Artificial Intelligence
  • Audit and Compliance
  • Automation
  • Big Data
  • Blockchain
  • Business Applications
  • Business Insights
  • Case Studies
  • Cloud, Platforms and Ecosystems
  • Competencies and Capabilities
  • Digital Transformation
  • eBooks and eBriefs
  • ESG and sustainability
  • Finance Accounting and Reporting
  • Future Technology
  • General
  • Infographics
  • Leadership and Roles
  • Mergers and Acquisitions
  • Operational Accounting and Control
  • Operations
  • Polls and Surveys
  • Resources
  • Risk and Regulation
  • Strategies and Tactics
  • Tax Management and Optimization
  • Technology
  • Treasury and Cash Management
  • Videos/Tutorials
  • Webcasts/Podcasts
  • White Papers

Strategic Insights for Finance Executives

FutureCFO.net is about empowering the CFO and the Finance Team to take on the leadership position in the digitalization of the enterprise. It's more than just a portal for the exchange of industry best practices, it is about creating and growing a community of finance professionals able to share learned experiences, providing a platform for the current and next generation of finance leaders and professionals.

Quick Links

  • Videos
  • Resources
  • Subscribe
  • Contact

Cxociety Media Brands

  • FutureIoT
  • FutureCFO
  • FutureCIO
  • Privacy Policy
  • Terms of Use
  • Cookie Policy

Copyright © 2022 Cxociety Pte Ltd | Designed by Pixl

Login to your account below

or

Not a member yet? Register here

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Business Insights
    • Competencies and Capabilities
    • Digital Transformation
    • Leadership and Roles
    • Mergers and Acquisitions
    • Risk and Regulation
    • Strategies and Tactics
  • Operations
    • Audit and Compliance
    • Finance Accounting and Reporting
    • Operational Accounting and Control
    • Tax Management and Optimization
    • Treasury and Cash Management
  • Technology
    • Artificial Intelligence
    • Automation
    • Big Data
    • Blockchain
    • Business Applications
    • Cloud, Platforms and Ecosystems
    • Future Technology
  • Resources
    • Whitepapers
    • PodChats
    • Videos
  • Events
  • Awards
  • Knowledge Hub
    • Sustainable Finance
Login

Copyright © 2022 Cxociety Pte Ltd | Designed by Pixl

Subscribe