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UK businesses are bamboozled by payment software options

by Emily King | 01.04.2021

UK businesses are willing to spend a third of their annual budget on purchasing a new payments solution, according to new research from Tug – however, many say they are feeling overwhelmed by the sheer range of payments software available online.

Finding a solution is critical for businesses too, with only 1 in 10 stating that they currently have no issues with their existing payments software, indicating a fairly extensive need for improving the situation in finance departments.More than half of the UK companies featured in the research were in agreement over the importance of having the right payments solution in place, with an average of £64,000 being allotted to solving the task.