Fraud fears see smaller companies turn their backs on technology

Fears about the perceived threat posed to business by online fraudsters was cited by 35pc of companies questioned in the recent Small Business Finance Barometer, a survey carried out by Close Invoice Finance as the main reason for keeping online business to a minimum. Some 78pc of respondents admitted to conducting 20pc or less of their business accounts online while 38pc still handled all of their finance offline. In addition, just six per cent operated fully computerised finance procedures, despite the proven time and cost savings, as well as environmental benefits, of doing so. ...