• 82% of surveyed CFOs in wholesale say their organisation has been slow to modernise payments
• Almost half (48%) are using a mix of manual and automated processes while 14% say they are manual and reactive, and just 6% say processes are ‘highly automated and well controlled’
• Card-led payments are a competitive advantage report 70%
Research commissioned by payments company Corpay, and conducted by Censuswide, finds that outdated spend management is impacting wholesale companies in the UK. Wholesale companies with an annual turnover of more than £20m were included in the survey. Many wholesale CFOs (Chief Financial Officers) continue to rely on a mix of manual and automated spend processes while increasingly viewing automation and card-led payments as strategically important.
CFOs are under intensifying pressure to protect margins, yet the majority admit their organisations are still relying on outdated approaches to managing business spend. The research of 300 cross sector CFOs found that 72% of those in wholesale surveyed agree that spend management is still more manual than it should be.
A similar proportion, 82%, say their business has been too slow to modernise how it pays suppliers and manage expenses, while card-led payments could turn the dial, as 70% say they are at a competitive advantage.
While finance leaders recognise the importance of digitised, card led and automated payment solutions, many organisations still report a mix of manual and automated processes. 48% are using a mix of manual and automated while 14% say their processes are manual and reactive, and just 6% say their processes are ‘highly automated and well controlled’.
Hours spent on Administration
This is an operational misstep for the sector, with 78% of CFOs reporting their finance teams spend more than six hours per person, per week on expense, invoice and supplier payment administration, and 20% reporting between 11 and 15 hours. When asked how they would use 25 to 50% of reclaimed finance time, business partnering and reporting and analytics were the top responses, with cash flow forecasting, team development and supplier negotiations tying third place. This highlights the opportunity to redirect capacity towards higher value activities.
Looking ahead, CFOs in wholesale have aligned their priorities for 2026 firmly on strengthening spend controls, improving working capital management and reducing fraud and risk.
Piero Macari, VP Product, Corporate Payments, at Corpay said:
“What the surveyed CFOs in the wholesale sector are telling us is clear: they are aware of their pain points when it comes to operational efficiencies and expenses and will prioritise solving them this year. By simplifying and modernising their models, CFOs know they will be able to save a wealth of time that they can better invest across other aspects of their business.”
He added: “It is increasingly clear that card-led payments with integrated, automated spend management are now critical to driving resilience and growth. Our recently launched Corpay Complete brings accounts payable, domestic and international payments, and corporate card spend into one unified digital platform. It reduces manual processes, strengthens control and provides full visibility across transactions, helping CFOs optimise working capital and time, while reducing administrative complexity.”
