Virtual Card Automation Tool Voice of the Customer – B2B Survey
Situation
Our client wanted to better understand customers’ perspectives on the features and capabilities they would value from a virtual card automation tool (for commercial payments).
Objective
The objective was to conduct a double-blind quantitative survey to gather responses from companies across a variety of sizes and industry sectors, from individuals working in Accounts Receivable functions.
Our Work
10EQS assessed how many virtual card payments companies are conducting, and how they manage virtual card processing today. 10EQS further explored how much customers outsource virtual card processing, what their biggest pain points are, and what their decision-making process for accounting & payment platforms looks like.
Project Team
- Associate Management Consultant with extensive research and data analysis experience
- 10EQS Delivery Operations (=PMO) providing quality assurance, process management and expert recruitment
- 300 survey respondents:
- 30% Small Businesses
- 40% Middle Market
- 30% Large Market
Quantitative Survey Respondents (sample)
- Director, Credit & Accounts Receivable – Finance & Insurance Company
- Treasury & Accounts Receivable Manager – IT & Digital Services Company
- Director of Accounts Receivable – Construction & Infrastructure Company
- US Head – Global Accounts Receivable – Food & Beverage Company
Results
10EQS learned that virtual card processing is managed by ~60% of the respondents both in-house and outsourced. The insights helped inform the client’s product development roadmap.