While global attention intensifies around artificial intelligence (AI), a recent study conducted by Revolut Business among 150 Romanian business decision-makers—comprised of CEOs, CFOs, and COOs—indicates that AI is not yet a primary concern in the budgets of Romanian companies for this year. Instead, these firms are prioritizing investments in modernizing their IT infrastructure and automating outdated systems.
According to the survey, the largest budget increase this year is earmarked for ‘modernizing IT infrastructure and cloud migration,’ which accounts for 19%. This is followed by a focus on scaling up sales and marketing efforts for market share (16%) and hiring new talent to expand teams (12%). Notably, ‘building out AI capabilities’ ranks only sixth, receiving just 10% of budgetary focus. This suggests that Romanian companies prefer to address foundational issues before fully embracing AI technology.
When it comes to AI adoption, the technology itself is rarely seen as a barrier. Only 15% of respondents identified IT infrastructure as the largest obstacle. More significant challenges appear to be human-centered: 31% cited the need for leadership buy-in and a clear business integration strategy, while 21% pointed to the importance of change management programs for employees. Additionally, a quarter of respondents indicated that internal buy-in remains a major concern, and one in five medium-sized companies reported a lack of technical talent as a hindrance.
Among the frustrations highlighted, the survey revealed that 24% of respondents consider ‘manual data entry and reporting’ as the most outdated process needing immediate replacement. Long HR onboarding processes also emerged as a significant pain point, especially for smaller companies, with 32% of these firms expressing concern over lengthy procedures.
Interestingly, the research uncovered a divergence in priorities among boardroom members. CEOs tend to prioritize internal stability, focusing on talent retention (15%), while CFOs lean toward innovation, with 23% emphasizing the need for new initiatives compared to just 13% of CEOs. This creates a strategic dilemma, as CFOs advocate for expansion and innovation, whereas CEOs prioritize internal stability at a time of heightened labor market competition.
Iulian Boia, Sales Manager at Revolut Business, articulated the challenges faced by Romanian entrepreneurs, noting, “Romanian companies are rightly pragmatic: you don’t build a skyscraper on a weak foundation. But modernizing doesn’t have to mean spending years on IT projects.” He emphasized that many of the frustrations identified—such as time-consuming administration and bureaucratic approvals—can be remedied quickly with contemporary financial tools. By automating manual processes, companies can align the objectives of both CEOs and CFOs, enhancing operational efficiency and transitioning from cumbersome administration to streamlined, automated financial transactions.
In line with its mission to provide modern banking solutions, Revolut Business has continued to attract Romanian companies by offering a simplified experience aimed at resolving immediate financial challenges. The platform boasts quick enrollment and instant transfers, with 90% of transactions completed promptly, catering especially to businesses operating with large volumes and multiple currencies. In the past month alone, Revolut Business facilitated EUR/RON exchanges totaling EUR 30 million.
As its popularity grows, Revolut Business emerges as a viable alternative to traditional banking services in Romania, offering a fully digital solution that provides businesses access to their funds with lower fees and fewer administrative burdens. The platform is designed to assist startups, scale-ups, and enterprises in managing global payments, exchanging currencies at competitive rates, and overseeing their overall financial operations. Established in 2017, Revolut Business now supports hundreds of thousands of companies, illustrating its commitment to becoming the go-to platform for all business finance needs.
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