https://techcrunch.com/2022/07/05/tesorios-tools-aim-to-help-businesses-automate-payments-collection/

Although finance teams ultimately control budgets within their companies, investment in technology under the chief financial officer’s purview had been limited — at least until recently. That’s the assertion of Tesorio CEO Carlos Vega, who observed that, prior to the pandemic, most cash management processes had been run in spreadsheets and Word documents.

“Cash is becoming the number one priority for all organizations. The industry’s main competitor is the inertia of doing it the old way, despite it being manual, error-prone, and highly inefficient … All of a sudden, [tools like automation] have gone from vitamin to painkiller,” Vega told TechCrunch via email. “At current inflation rates, companies are losing over 2% in real terms every 90 days they sit on their receivables. That may not seem like much, but for a mid-market business with a $10 million outstanding receivables balance, that’s costing them $210 per quarter or the equivalent of two employees for a year.”