CFOs Tell Banks What They Want From Working Capital Solutions. And It Isn’t Always the Best Rate

It was former Intel CEO Andy Grove who once said, “How well we communicate is determined not by how well we say things, but how well we are understood.”

And according to Visa’s 2024-2025 Growth Corporates Working Capital Index, CFOs and treasurers want to be clearly understood that they are looking to their banks for financing and comprehensive, relationship-based support that aligns with their unique cash flow needs and strategic growth goals.

As businesses expand globally and invest in digital transformation, they are prioritizing smooth, just-in-time access to funds and faster approval processes.

That’s what the data says, and the Working Capital report also asked CFOs and treasurers for their comments on what they were expecting from banks and how those banks could provide them better access to working capital solutions.

As reported previously, the top performers in the survey — those companies with the highest working capital efficiency — stand out by leveraging virtual credit cards, which provide both flexibility and cash flow visibility. These companies have integrated more suppliers directly into payment systems, leading to a 77% increase in early invoice payments and allowing them to secure better terms and discounts from suppliers.

Such efficiency has translated into financial advantages: Top performers saved an average of $11 million on reduced interest, inventory costs and supplier discounts — three times more than in 2023.

However, when you get down to what the CFOs and treasurers who answered the survey actually said, personalization sparked the most prolific statements. Two typical statements from the verbatim comments put the onus on banks to provide that personalization.

This comment from a healthcare CFO was repeated often: “They can do this through responsive customer service and offering solutions that adapt to our unique business needs.”

In fact, customer service was a theme sounded frequently by the report’s respondents. “Delivering exceptional customer service has become essential,” said one CFO. “Understanding our specific challenges would help them offer more relevant solutions.” ​​

However, challenges remain, particularly around approval processes. CFOs expressed frustration with lengthy and unpredictable approval timelines, disrupting planned cash flows and hindering strategic investments. They want banks to bring industry-specific expertise to offer bespoke financing solutions that integrate seamlessly with existing systems.

Additionally, CFOs expect innovative, digital tools, such as corporate card solutions, that automate expense tracking and enhance job-costing systems. Some typical comments in this area include the treasurer who commented, “The application process for loans should be made simpler and faster to avoid delays in accessing funds,” and the manufacturing CFO, who said, “Streamlining the approval process for short-term financing would be extremely helpful.”

Other areas that CFOs and treasurers commented on covered:

• A strong demand exists for digital-first, frictionless solutions. CFOs and treasurers are reliant on technology for streamlined processes, faster transactions, and real-time insights. Typical responses here included “a seamless digital platform for managing our accounts and transactions would save us time and reduce manual processes.” Other comments pointed out the need for predictive analytics. Said one North American fleet and mobility company CFO: “It would be beneficial if they invested in tech solutions that allow us to monitor and predict cash flows more efficiently.”
• Many growth corporates seek advisory support from banks. CFOs appreciate when banks provide insights into market trends, risk management, and potential growth strategies relevant to their industry. Typical responses here included an EU-based healthcare treasurer who said, “Having access to advisers who understand our industry would help us make better financial decisions.” And another APAC-based treasurer said, “If banks could offer guidance on managing risks in volatile markets, it would make a significant difference.”

The bottom line is that finance leaders prioritize seamless, real-time access to manage funds and optimize cash flow. Additionally, many are calling for advisory services to help navigate volatile markets and growth challenges. Banks that deliver on these needs are well-positioned to become indispensable partners in their clients’ growth journeys.