- Survey of UK manufacturing CFOs finds that 100%[1]have experienced some form of payments-related cyber incidents in the past two years[2].
- Cross-border payments is an automation priority for the industry’s CFOs, yet integration challenges and data privacy concerns stall progress.
- While 88% say real-time visibility into payments is essential, only two-thirds of those surveyed feel confident their processes deliver it[3].
New research commissioned by global S&P500 corporate payments company, Corpay, reveals that UK CFOs working in the manufacturing sector believe that cyber threats, legacy systems, and fragmented processes are key barriers to modernising their organisation’s finance operations.
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According to the research, every UK manufacturing CFO surveyed (100%) has experienced a payments-related cyber incident in the last 24 months, underscoring just how exposed finance teams have become. In addition, just under half (48%) say they have experienced a ‘significant’ breach. Although only 30% cite cyber risk as an operational concern, nearly all (90%) plan to increase investment in cybersecurity in 2025, with half (50%) preparing for a significant uplift.
The findings from a sample of UK-based CFOs - a third of which all work in manufacturing - reflect the pressures facing finance leaders today as they work to manage risk, control costs, and modernise operations in an increasingly complex and interconnected payments landscape[4].
The appetite for automation remains strong across manufacturing CFOs. More than half of those surveyed (52%) want to prioritise cross-border payments, while 50% want to focus on Accounts Payable and expense management 42%. Fraud detection and prevention (34%) also remain key priorities, underscoring a universal demand for digitisation.
Despite strong automation intent, manufacturers face significant barriers. Half of CFOs surveyed cite integration with existing systems as their biggest blocker to automation, while 38% highlight cyber and data privacy concerns and 36% point to a lack of expertise. These findings echo wider desk research showing manufacturers face the longest supplier payment delays (46 days on average) due to siloed systems, fragmented approvals, and outdated tools.
Visibility is another challenge. While 88% of manufacturing CFOs say real-time oversight of payments is important[5], just two-thirds (66%) feel confident their processes are optimised for cost control and efficiency, leaving many exposed to unnecessary costs, risks, and delays.
Piero Macari, Corpay Complete’s VP of Product, said: “Manufacturers are telling us loud and clear: cross-border efficiency, automation, and real-time visibility are no longer nice-to-haves - they are urgent requirements. Yet integration and legacy systems are keeping too many finance teams in the dark. Corpay Complete is purpose-built to address exactly these pain points. It’s a unified, mobile first platform that brings together AP, FX, expenses, and supplier payments so CFOs can automate processes, reduce risk, and gain the visibility they need to stay competitive.”
The research highlights that finance leaders are ready to act but are constrained by outdated systems, fragmented processes, and a lack of visibility. Corpay Complete, launched earlier this year in the UK, provides an opportunity to make the change needed. By unifying and digitising Accounts Payable processes, including domestic and international payments, as well as corporate card expenses, it enables CFOs to automate manual processes, shrink the threat surface, and gain total visibility across every transaction.