Organizations are expanding their use of digital payments, but internal barriers continue to complicate modernization, according to a new survey from WEX, a global leader in intelligent payment solutions. Nearly two-thirds increased their use of digital payments over the past year, while 85% report internal obstacles such as implementation costs, integration challenges, and change management hurdles. The findings appear in WEX’s new report, “Modernization of B2B Payment: An Evolution Is Underway.”

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While over 80% of organizations acknowledge that payments drive overall business value, a significant execution gap remains. Even so, a clear path forward is emerging, as 94% of organizations are using or planning to adopt AI across their payment lifecycle.

“Financial leaders understand that payments drive organizational value, both as a revenue generator and a strategic growth lever, but having the tools to realize that potential remains a major hurdle,” said Eric Frankovic, President of Corporate Payments at WEX. “Today’s most innovative leaders recognize the question facing their organization is no longer whether to modernize, but how fast they can get there.”

As transaction volume grows, manual payment processes can no longer keep up with the workload. Over half of surveyed organizations (56%) now handle more than 1,000 supplier payments monthly, totaling millions in spend. Yet most continue to rely on fragmented traditional methods – managing payments across multiple bank portals and card platforms. For 74% of leaders, juggling these disconnected vendors creates a heavy administrative burden.

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