There has been a mushrooming of small- and medium-size startups catering uniquely to specific business sectors with niche financial applications. Due to the pandemic-induced financial disruption, several of these players now face deep losses and increased investor pressure on profitability.

Thus, in the long run the crowded fintech battlefield is likely to see significant consolidation through mergers and acquisitions, similar to yesteryears’ dotcom revolution. In the short run, the upstarts will have a field day challenging the dominance of traditional ERP systems that are inflexible, cumbersome, and require expensive customizations. The finance function of tomorrow will be the ultimate winner, enjoying a broad portfolio of tailored solutions as a result of greater collaboration and innovation.

In sum, Finance.NXT will operate in a radically transformed financial systems landscape. Read our whitepapers to discover more about finance that is building back nimbler.