It could be called putting all of one’s eggs in one basket with financial software, or it could be called simplicity. A new study released yesterday, Dec. 7 found that nearly half of small and medium businesses (SMBs) choose a single vendor for their payments, payroll, invoices and accounting. The PYMNTS.com SMB Technology Adoption Index, powered by Sage study surveyed approximately 700 SMBs in October 2015.

While 48 percent of SMBs trust one vendor for their financial software solutions, 34 percent choose two or more vendors. The study, which focused on business and technology trends that affect SMBs, also found that SMBs lag behind when it comes to adopting payments technology, with 64 percent of respondents not prepared to accept EMV cards (which are the chip-enabled cards) – and have no plans to do so.

However, there is some significant SMB financial software adoption. The biggest area for SMBs to use financial technology is for payroll, with 60 percent of respondents managing the process with technology solutions. Electronic invoicing is gaining steam; 31 percent of SMB respondents are using it, and out of those, 20 percent can accept payments electronically. What’s interesting is that 46 percent of SMBs responded that not getting paid on time is a significant source of frustration.

“Small merchants are more focused on their primary business than payment technology,” said Paul Bridgewater, CEO of Sage Payment Solutions, the payments division for Sage North America, in a press release. “While somewhat understandable, this approach could be dangerous and lead to slower growth since businesses can gain major benefits from more effectively handling the movement of money.”

SMBs do tend to focus on accepting the non-electronic forms of payment. The study found that 92 percent of respondents accept checks and 84 percent accept cash. Additionally, 61 percent of the SMBs surveyed don’t have any complaints with their current financial processes and systems, while 44 percent are very cautious about adopting new technology.