“Simplicity is the ultimate sophistication” observed Leonardo da Vinci more than 500 years ago.

In business, keeping things simple and minimising complexity is critical.

But what does complexity stand for in a business environment?

It can be seen as a large number of different elements (such as specific technologies, raw materials, products, people, and organizational units) that have many different connections to one another. [1]

Organisations tend to accumulate complexity over time. Generally, this results in a loss of efficiency, understandability, manageability, and predictability, making it harder, especially for bigger companies, to be able to reinvent themselves.

Over the last years, pandemic-specific challenges contributed to increased levels of complexity in businesses of any industry: their sudden adjustment of strategies meant adopting plenty of new processes, workflows, and tools in a short span of time.

Business complexity statistics

So, why “complexity reduction” should become a key mantra for your business this year?

Removing complexity provides a great chance to identify and strengthen core capabilities, build the business around customer needs, create a disciplined approach to releasing new products or services and trimming low-value activities. [4]

An easy starting point for simplification is to get rid of manual administrative tasks, which are among the top timewasters in most organizations.

Stats on administration complexity

Here is why a company’s more holistic approach to complexity reduction should encompass administration with a focus on payment collection. Streamlining payments through a careful selection of the methods mix to adopt is crucial to simplify collection processes and improve cashflow, the latter being a big focus for small businesses in 2023. [1]

When it comes to payments, it is key to review processes and tools on a regular basis to make sure no unneeded complexity is there. Always remember that the market rapidly evolves and what worked a couple of years ago may not work today.

Account-to-account (A2A) transactions, for example, are booming [2], with 81% of European consumers confirming they are likely to make an A2A payment in the future. [3]

For businesses of any size or industry, collecting payments by A2A method solutions is an opportunity to cut costs, facilitate innovation and streamline processes in a simple and competitive way, while improving business efficiency as a whole.

MyBank, the pan-European account-to-account solution enabling users to make and receive payments through an immediate and irrevocable bank transfer, is increasingly appreciated and seen by merchants as a simplification tool. With its solution, businesses enjoy several advantages including irrevocable payments with instantaneous confirmation, minimized fraud-related risks and 100% automatic reconciliation.

MyBank offers payments that take place directly in the customers’ online banking environment with no maximum transaction amount limit, via a fully pre-filled and non-editable wire transfer, enabling cost-efficiency and overall process optimisation.

The adoption of a payment solution like MyBank, which ensures less time spent on administrative tasks and frictionless transactions for customers, can help your company embrace simplicity as a strategy, starting from the core activities.



[1] https://www.pymnts.com/news/b2b-payments/2023/small-businesses-focus-turns-to-improving-cash-flow/

[2] https://mybank.eu/en/account-to-account-the-fastest-growing-payment-method-in-the-world/

[3] Consumer Survey Report – Who will pay by bank (token.io)

8 Feb 2023



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