UK CFOs admit spend management is stuck in the past

Manual spend management persists across UK finance teams despite the need for modernization

The data shows something simple but serious: most CFOs in the UK know their spend management systems are behind the curve. Many still rely on outdated manual steps to manage supplier payments, expenses, and invoices. This approach consumes time, increases human error, and slows financial decision-making. When systems can’t deliver real-time visibility, it weakens a company’s ability to react quickly to shifting business needs.

For an organization to thrive, finance processes must evolve beyond spreadsheets and manual reconciliation. Digital transformation in payments is not a luxury anymore, it’s a competitive requirement. Companies running large-scale operations need their financial infrastructure to match the speed and intelligence of the rest of their business. Manual structures don’t scale well, and their inefficiency becomes more visible as companies grow.

Leaders should see this as a gap in execution, not awareness. CFOs already understand the value of automation. The obstacle is often inertia, legacy systems that still “work” but slow progress. The fix begins with deciding that efficiency and transparency are worth the investment. The longer the delay, the sharper the disadvantage becomes.

According to Corpay’s research, 83% of CFOs said their spend management remains too manual, and 84% admitted their companies have been too slow to modernize. The survey covered 300 UK CFOs from firms with turnover above £20 million across sectors including retail, manufacturing, and IT. These numbers reveal a structural lag, one that can only be closed through decisive modernization.

Manual processes impose heavy labor costs and limit strategic capacity within finance teams

Finance teams are spending too much time on tasks that should already be automated. Corpay’s survey found that 86% of CFOs said their teams spend over six hours every week on expense, invoice, and supplier payment administration. More than a quarter of respondents reported between 11 and 15 hours. That’s more than a day a week focused on work that doesn’t move the business forward.

When finance professionals are stuck managing paperwork and approvals, their expertise gets wasted. These are skilled teams capable of optimizing capital, forecasting cash flow, and planning long-term financial strategy. Instead, manual methods consume their time, delay insights, and increase costs. CFOs made it clear that if automation freed up even part of those hours, they would redirect the time to higher-value functions, business partnering, forecasting, and strategy.

For executives, this is not just a cost issue. It’s about unlocking talent that already exists within the company. Automating spend management doesn’t only mean reducing workflow friction, it means converting finance from an administrative function into a strategic growth driver. In a market built on speed and precision, companies that fail to modernize soon find that their competitors move faster, see clearer, and act sooner.

To accelerate progress, leadership must view automation not as a technology upgrade, but as an investment in focus. The business that reduces friction in its financial operations gains the one resource that never scales without efficiency: time.

Competitive pressure is accelerating interest in automated, card-led payment systems

Finance leaders across the UK see automation as more than a tool, it’s a competitive necessity. Competitors who move faster in adopting card-led, automated payment systems are setting the pace for the rest. According to Corpay’s research, 91% of CFOs worry that their competitors are ahead in adopting automated solutions, and 81% see card-led payments as a clear competitive advantage. The trend shows that automation is no longer confined to back-office functions; it’s becoming a direct enabler of strategic leadership in finance.

Automation provides more than faster payments. It delivers data accuracy, control, and transparency, key advantages in a market that values insight and agility. Automated payment workflows enable real-time visibility, improve control over spending, and reduce the cost of manual intervention. These systems let CFOs analyze spending patterns quickly, support compliance, and optimize liquidity without overburdening staff.

For decision-makers, this shift represents a test of pace and focus. Each company must decide how quickly it wants to evolve from outdated processes to intelligent automation. Leaders who move decisively stand to improve returns and operating efficiency while future-proofing their financial infrastructure. Delayed execution, on the other hand, amplifies inefficiencies and exposes companies to unnecessary competition.

The message from UK CFOs is straightforward: adopting automated, card-led payment systems is no longer an optional upgrade. It’s a strategic response to competitive pressure and an essential step toward sustaining performance in a digital economy.

Enhanced working capital management and visibility are top strategic priorities for finance leaders

Working capital is the heartbeat of a company’s financial health. Almost every CFO surveyed, 99%—said that added flexibility in working capital would bring value to their business. The reason is clear: managing liquidity efficiently determines how well an organization can handle both opportunity and risk. As market conditions tighten and cash management grows more complex, finance leaders are prioritizing systems that deliver full visibility into spend and improve control over outgoing cash flows.

Automation and integrated data are key enablers of this flexibility. When financial systems provide real-time insights into payments, expenses, and supplier transactions, executives can act with precision. Instead of reacting to situations after the fact, they can forecast and allocate capital more effectively. Improved visibility allows teams to identify inefficiencies, manage costs accurately, and strengthen decision-making at every level.

For executives, achieving this level of control means aligning financial operations with strategic goals. It requires investment in systems that connect spend management with forecasting, analysis, and risk oversight. Businesses that achieve strong working capital visibility can adjust faster, safeguard liquidity, and support growth ambitions even in volatile markets.

The growing focus on working capital flexibility among UK CFOs reflects a wider movement toward proactive financial management. It’s about ensuring that capital works harder, remains traceable, and directly supports business resilience and expansion.

Corpay champions automation as the strategic pathway to modernizing spend management

Corpay is positioning automation and card-led payment integration as the next major step in corporate finance modernization. Piero Macari, Vice President of Product, Corporate Payments at Corpay, stated that automation is becoming a central strategic focus for CFOs who want tighter control over spend management and better visibility across their financial operations. His view is practical and direct: digital automation in payments is not just an efficiency gain, it is an essential step toward stronger financial performance and competitive growth.

Corpay’s recent launch of Corpay Complete embodies this idea. The platform unifies accounts payable, domestic and international payments, and corporate card spend into a single digital environment. By doing this, it eliminates redundant manual steps, reduces risk, and ensures that transaction data is visible across all payment types. For finance teams, this integrated structure means more reliable data, faster decisions, and clearer oversight of working capital. It also gives CFOs a deeper understanding of where money is being spent and how efficiently it’s being used.

Leaders evaluating their payment systems should consider how integrated solutions like this can reshape financial control. Automation provides consistency and transparency, key elements of financial resilience. When payment management becomes smarter and more connected, companies gain usable insights and the confidence to act faster when market conditions shift.

The trend reflected in Corpay’s survey and its product direction signals a broader shift among UK CFOs. Finance, once focused largely on control and compliance, is evolving into a strategic command center. Payment automation and integration are the tools that make this transformation possible. The future of finance lies in removing friction, amplifying insight, and empowering leadership with real-time visibility and control.

Key takeaways for leaders

• Manual systems block financial efficiency: Most UK CFOs acknowledge that manual spend management slows progress and limits agility. Leaders should prioritize automation to align finance workflows with modern business speed and accuracy.
• Inefficient processes waste strategic talent: Finance teams spend excessive time on administrative tasks instead of value-driven strategy. Executives should accelerate automation to reclaim this time for cash flow analysis, forecasting, and business planning.
• Competitive advantage hinges on automation adoption: With 91% of CFOs worried competitors are ahead, leaders should view card-led, automated payment systems as core to keeping pace with best-in-class financial operations.
• Working capital flexibility drives financial resilience: Nearly all CFOs see value in improving working capital visibility and agility. Decision-makers should invest in connected payment systems that support real-time insight and proactive liquidity management.
• Integrated automation strengthens control and insight: Corpay’s integrated payment solutions show how automation enhances oversight and strategic planning. Executives should focus on unified spend management platforms to increase transparency, reduce risk, and drive financial performance.