Survey: Most Finance Leaders Struggle to Keep Pace with E-commerce Growth
A survey report jointly released by Hokodo and the B2B E-commerce Association reveals that 66% of finance leaders believe their teams cannot keep up with the pace of e-commerce development, and 17% of respondents say their finance teams are not prepared for the future. The survey also found that finance leaders face multiple challenges in balancing financial control with strategic growth, managing cash flow, and payment terms.
London, UK — Two-thirds (66%) of finance leaders say their teams cannot keep up with the pace of e-commerce, according to a survey conducted by Hokodo in partnership with the B2B Ecommerce Association. Hokodo is a provider of flexible payment terms for European merchants and marketplaces.
B2B e-commerce is evolving rapidly — estimated at $2.641 trillion in 2024 by Digital Commerce 360 — but Hokodo's report shows that many finance functions are not yet future-proof. In fact, this cross-industry survey of CFOs and finance leaders found that nearly one in five (17%) respondents believe their finance team is not prepared for the future.
The barriers to a future-proof finance function lie primarily in the imbalance between growth and control. Nearly half (46%) of respondents struggle to balance financial controls (policies used to manage financial resources and ensure reporting accuracy) with strategic growth initiatives. When asked whether e-commerce has made financial control management more difficult, the majority (39%) of finance leaders agreed, with only 5% strongly disagreeing.
Louis Carbonnier, co-founder and president of Hokodo, commented: "Although the B2B commerce industry is digitizing at high speed, our survey found that finance teams are facing numerous obstacles that prevent them from keeping pace with e-commerce. Future-proofing begins with empowering finance teams with technology. Whether through reports like this or our digital trade credit services, our mission is to ensure all finance leaders are ready for the future of B2B commerce."
In addition to balancing growth and control, finance leaders also face obstacles related to cash flow and payment terms. The survey revealed that the top three challenges for finance leaders are: working capital management and cash flow unpredictability (66%), cost reduction (49%), and payment and payment term management (44%).
Worryingly, these challenges hinder finance leaders from innovating and ensuring the finance function is future-proof. The survey also found that other major barriers to innovation include budget constraints (66%), resistance to change (54%), and insufficient capabilities (37%).
Christopher Gee, UK head of the B2B Ecommerce Association, added: "It's great to see this report providing a pragmatic approach to finance process automation. This report offers timely insights and valuable strategies for anyone navigating the complex world of B2B finance, balancing efficiency and growth."
The report, titled "Hokodo Survey: Are Finance Leaders Ready for the Digital Transformation of B2B Commerce?", provides actionable recommendations for finance leaders that canDownload here。
About Hokodo
Hokodo is a provider of flexible payment terms for European merchants and marketplaces. Hokodo integrates all elements of trade credit management into one platform, enabling business buyers to access payment terms even on their first purchase, while merchants receive full payment in advance and are 100% protected from risk. Hokodo is data-driven and underwritten by Lloyd's of London to ensure secure payments and peace of mind.
