The acceleration of innovation in financial technology, otherwise known as FinTech, is constantly revolutionizing the way a business operates. Tasks that were once completed face-to-face with another human being are being done online in a matter of minutes.
As the financial and technological industries continue to synergize, businesses stand to reap massive benefits. Here’s how.
1. Marketplace Lenders
Instead of going to a bank for a small business loan, businesses can now utilize marketplace lenders instead. Marketplace lenders exist exclusively on the internet and can provide small business loans to provide capital fast. These services offer the speed and convenience of quick approval responses, and in some cases, will grant same-day approval. However, as with any financial service it is important to be aware of possible transparency and protection risks throughout the process.
2. Financial Software
Just as the original mechanical cash register has evolved into the point-of-sale system, all financial business needs can be fulfilled using cutting-edge financial software. Fully formed receivables management systems can offer online payment, debt management system software, bank loan software, auto loan software, and anything else a business might need to operate more efficiently. Not only does implementing a next-gen solution expedite business operations, but it also saves businesses additional costs associated IT or outsourcing.
Mobile-pay is a vital tool to provided to consumers as it offers convenience in managing accounts and fulfilling payments. Payment processes are being simplified to make customer interactions more and more efficient, resulting in a more effective business model. By having a consumer-facing portal enabled with tools for self-service connected to your financial management system, consumers are more empowered to pay on timely basis.
North America and Europe are leading growth in the global enterprise software market, which will exceed $500 Billion by 2020. As such, there are many companies to choose from. However, companies and government entities alike choose CSS IMPACT Financial Management tools to get every financial software tool desired to operate efficiently on a single platform.
Contact us today to utilize CSS IMPACT and get your business running better than ever.