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November 23, 2021

Financial Operations Technologies Most in Need of Updating at SMBs According to US SMB Decision-Makers, Oct 2021 (% of respondents)

Financial Operations Technologies Most in Need of Updating at SMBs According to US SMB Decision-Makers, Oct 2021 (% of respondents)

Note

Small businesses are defined as those with 1-100 employees, and mid-sized businesses are defined as those with 101-1,000 employees. Respondents were asked, "Which of the following financial operations technology applications in use at your company, if any, are most in need of an update"

Methodology

Data is from an August 2021 Bill.com survey conducted by Wakefield Research. 2,000 US small business owners and mid-size business decision-makers were surveyed using an email invitation and online survey during October 5-15, 2021. The mid-sized business decision makers surveyed held the role of manager or higher. Small businesses are defined as those with 1-100 employees, and mid-sized businesses are defined as those with 101-1,000 employees. Results have a margin of error of +/-2.2 percentage points at a 95% confidence level. Bill.com offers automation of back-office financial processes for small and mid-sized businesses.