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Financial Services Industry Experiencing Spending Slump, Data Reveals 

AvidXchange

To better understand the trends around financial services spending, let’s start with some key data points. In the first quarter of 2020, spending on financial services was 6.4% And this may be a reason why overall spending on financial services has dropped.

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How CommBank and Waddle, from Xero, are unlocking cash in unpaid invoices to help small business grow

Xero

The cash conversion cycle – the time it takes to convert investments in inventory into cash – has increased from 55 days in 2020 to more than 100 days in 2022. CommBank customer data reveals that businesses are holding onto inventory on average four months before selling. Bank fees and charges may apply.

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Financial Services Trends: 6 Reasons Why Accounts Payable Will Change in 2022

AvidXchange

We’re taking a look at the current state of AP in banks and how key financial services industry trends are predicted to impact the way they manage their invoicing and payments to better serve their business in 2022 and beyond. Explore AvidSuite for Financial Services: Your end-to-end purchase to pay solution 3.

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How Xero and DBS are digitalising small business lending in Asia

Xero

Earlier in 2022, we deepened our partnership with Asia’s leading financial services group. In these uncertain times, taking a proactive approach to mitigate financial risk is a smart move – as we’ve learned from recent years. This contributed over S$6.4

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2020 in Review: Turbulent Year Signals Turning Points in Fintech Industry

AvidXchange

Historians will undoubtedly look back on 2020 as a turning point in world history. 2020 will also be remembered by business historians, and finance professionals such as yourself, as a turning point in the fintech industry. The survey also found 74 percent used an automated AP software system in 2020.

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Medical Debt: An American Struggle

RevCycle

According to the Kaiser Family Foundation, the average American family spent $28,166 on healthcare in 2020. In 2020, the average deductible for a single person with employer-sponsored health insurance was $1,463, and the average deductible for a family was $4,595. In 2020, medical debt was a factor in 58% of all bankruptcies.

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The Zero Cost Accounting Client Acquisition Method w/Alyssa J. Dillon

Jetpack Workflow

She believes that every business owner deserves access to sound financial advice and that the key to unlocking potential lies in understanding one’s unique value proposition. In 2020, recognizing the growing demand for her insights, Alyssa expanded her reach by launching a coaching program for accountants.