Musiccosmos

Are fintech services the future of cash flow? The results of a wide-reaching independent survey of 4,000 UK businesses to find out how companies manage their cash flow has shed significant light into an area that is reported as a key challenge for businesses across the UK this year. The results of the survey, analysed in the Soldo Spend Management Whitepaper , reveal costly inefficiencies in cash flow cycles, with up to a staggering £102.6 billion of company spending collectively left unreconciled every year by 18% of businesses.    Heavy administrative burdens, multiple spending channels creating complex accounting methods and a lack of spending autonomy for employees are contributing to significantly reduced productivity and ultimately costing businesses dearly when it comes to tax returns and reconciliation of spend. The report also highlighted an opportunity for UK companies to utilise new technology and shred the hours that are currently reserved for managing spend, ...