Academy Bank Research Reveals Businesses Are Losing Time to Slow Payments, Manual Processes and Fraud Concerns

New white paper finds 60% of businesses say collecting customer payments is their most time-consuming financial task, while nearly 70% want faster, more reliable payments

Research highlights cash flow, payment and risk management challenges facing small and midsize businesses – and opportunities for modernization

Academy Bank today released new research revealing that more than 86% of businesses are concerned about fraud or unauthorized activity and more than 87% are likely to explore new tools to improve cash flow and efficiency within the next year. The findings underscore that slow payments, manual financial processes and fraud concerns continue to create significant challenges for businesses across the United States, driving demand for integrated financial tools that improve efficiency, visibility and control.

The findings are detailed in Academy Bank’s new white paper, “What Matters Most to Businesses: Managing Cash Flow, Payments, and Risk,” based on a nationwide survey of business owners, presidents, CEOs and operations leaders representing organizations of varying sizes and revenue levels. The research explores how businesses manage cash flow, payments and financial risk, while identifying key priorities shaping banking relationships and financial technology adoption.

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“For business owners, cash flow is much more than an accounting metric – it affects every aspect of operations, from payroll and purchasing decisions to growth planning and risk management,” said Jodi Vickery, Academy Bank’s Chief Digital Officer. “This research provides valuable insight into the challenges businesses are facing today and highlights opportunities to simplify financial management and improve operational efficiency.”

Among the key findings:

• 60% of respondents identified collecting customer payments as the financial task that requires the most time and effort.
• 58% said payments arriving too slowly are one of their organization’s biggest cash flow and payment management challenges.
• Nearly half (49%) cited fraud or unauthorized transactions as a significant concern, while more than 86% reported being somewhat or very concerned about fraud overall.
• 69% said faster, more reliable customer payments would be the most helpful improvement for their business.
• 91% rated faster access to funds as important or very important.
• More than 87% said they are likely to explore new tools or services to improve cash flow and efficiency within the next 12 months.

The research also revealed that many businesses continue to rely on fragmented financial processes. While online banking, mobile banking and accounting software are widely used, nearly one-third of respondents still rely on spreadsheets, and 13% continue to use manual or paper-based processes.

According to Academy Bank, the findings point to a broader shift in what businesses expect from their financial institutions. Increasingly, organizations are looking for banks to provide not only accounts and lending services, but also practical tools that help improve cash flow management, streamline payments and reduce operational complexity.

“Business owners don’t need another disconnected tool. They need a simpler way to get paid, reduce manual work and stay ahead of fraud,” said Vickery. “With our Business Payments Suite, invoicing, payment acceptance and tracking come together in one place, so businesses can speed up collections and see their cash position with more confidence.”

The report also highlights the growing demand for integrated banking tools that reduce manual processes and simplify payments. As one example, Academy Bank recently launched Payments Suite powered by Autobooks, which enables businesses to create and send invoices, accept payments, automate billing and track payment activity directly within their banking relationship with no additional subscription cost (standard payment processing fees apply).

Academy Bank commissioned the research as part of its ongoing commitment to helping businesses navigate evolving financial challenges and identify opportunities for growth.

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