Forty-eight percent of small and midsize businesses use one technology supplier for accepting payments, processing payroll, issuing invoices and doing their accounting, according to a new survey, while 34 percent use two or more suppliers for their financial technology.
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Electronic invoicing is gaining adoption as 31 percent of SMBs use electronic invoicing. Of those SMBs, 20 percent can also accept payments electronically. Forty-six percent of the surveyed SMBs cited not getting paid on time as the most frustrating thing related to receiving payments from customers.