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FS firms ‘still cautious about digitisation’

2nd March 2016 Church News.

Full-scale digitisation within financial services businesses may be a long way off, as 42 per cent of core processes will still be largely paper-based in 2018, according to research from Xerox. The ‘Digitisation at Work’ survey found that 56 per cent of financial businesses still predominately do their business by paper, with 57 per cent still invoicing customers in this way. Despite 43 per cent of financial executives believing a move to digital would cut costs and increase productivity, 17 per cent of respondents are yet to digitise in any key business area, including product development, invoicing, customer engagement, HR onboarding and contract development.