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Giselle Arellano-Geronimo , vice president and head of Finance, Accounting, and Procurement at Shearwater Health , emphasises that successful CFOs can resonate with various stakeholders and foster a culture of continuous learning essential for implementing transformative changes.
For example, if your organisation is moving toward advanced data-driven decision-making, some team members may need training in data analytics or visualisation tools. Invest in Learning and Development Continuous learning is the backbone of growth. It requires you to invest time, energy, and resources into their development.
I had taken a job as a teaching assistant, almost entirely because I needed the money to pay my tuition and living expenses, and in a subject (accounting) that did not excite me in the least. I am a natural dabbler, and I enjoy looking at big financial questions and ideas from multiples perspectives.
Enhancing Customer Interactions Many customers prefer quick, precise answers to their financial questions. Finance AI chatbots provide this by: Answering FAQs about loans, interest rates, or account management. Offering personalized financial advice based on transaction history. Personalized financial recommendations.
By 2025, the traditional image of number-crunching accountants confined to back offices will be a relic of the past. CFOs, controllers, and management accountants must embrace agility and foresight to thrive in this dynamic environment. This doesn't necessarily translate to job losses, but rather a shift in required skills.
For example, we can use visualization to guide SME customers on cashflow management, combining different datasets that we have within the bank and merging these with customers financialdata to produce valuable insights for customers. For example, CBQ developed an application for domestic maids to open accounts through mobile.
Implementation Budget and Costs: The investment (budget and resources) for implementing AI in finance, including technology refreshment, change management towards best practices and training, can be challenging for businesses in APAC, especially for small and mid-market companies.
It’s really a strategy for handling the money coming in and going out of an organization, making sure there’s enough liquidity to pay bills, invest, and handle any unexpected expenses. Effective cash management is a cornerstone of financial health for businesses of all sizes.
Financial tracking also helps adjust investments, such as identifying underperforming products and reallocating resources accordingly. Improve steps by doing this: Monitor real-time financial performance to stay on track. Budget approval ensures financial stability, prevents unnecessary expenses, and keeps projects on schedule.
By using AI to extract and quantify information from investment reports, the bank can tailor analyses to meet the needs of institutional clients. Employees no longer need to provide personal information and bank account numbers to their employers by email or paper.
Wong says the ability to connect financial insights to the broader business landscape is crucial. “A A great finance leader sees the bigger picture, understanding how financialdata aligns with organisational goals and drives growth. “I believe impactful leaders empower others to grow, creating strong, capable teams.”
This opportunity allowed me to audit clients like the South African Revenue Service and South African Tourism, as well as manage accounts for Mastercard South Africa. What key skills should a newly qualified accountant develop on their path to becoming a CFO? How do you balance your personal and professional life?
The Strategic Power of Information Financial leaders sit at the intersection of every major business decision. Whether it’s expansion into a new market, investment in digital infrastructure, or rationalising product lines, information is the common currency that enables sound judgement.
Enhancing predictive financial planning Financial planning and forecasting have traditionally relied on historical data and manual effort, often leading to inaccuracies and slow turnaround times. “AI Data governance frameworks are essential to building trust internally and externally, particularly with sensitive financialdata.
The CFO is not just the gatekeeper of financialdata. Maybe it is accountability. You hold yourself accountable, which encourages others to do the same. The Competitive Edge CFOs who lead with self-awareness and clear intent are more than financial executives. Maybe it is clarity. Maybe it is fairness.
IFRS provides a universal financial language, ensuring that businesses across the world speak the same accounting dialect. Being IFRS-compliant means that a company follows a set of internationally recognised accounting rules when preparing its financial statements. But what does it really mean to be IFRS-compliant?
Some are focused on managing tax risks, others on optimising cash flow, enabling new investments, or designing more efficient cross-border business structures. Its a real-world chess game where every move matters, and every piece - financialdata, legal contracts, operational substance - must align under intense scrutiny and huge pressure.
Although these topics have been on our radar in past years, the outlook for 2025 holds a common thread as the accumulated innovation and investment in each of these areas morphs into tangible acceleration, scalability and productivity payoffs going forward.
Government regulations are tightening, and donors are demanding more accountability. From federal grant compliance to donor transparency expectations, nonprofits must meet a growing list of financial integrity standards. If your organization doesnt have airtight financial oversight, youre at risk of losing funding.
Braun Southern Africa and professor of accounting and finance at Monarch Business School Switzerland also an upcoming speaker at the Marcus Evans 8 th Annual CFO Africa Conference, to explore the expanding remit of finance leaders. Balancing Wellbeing and Financial Performance Can CFOs afford to invest in employee wellbeing?
Identify financial risks before they become major issues. Make informed investment and operational decisions. Without a proper forecast, businesses risk overspending, running out of cash, or making poor financial decisions that can harm long-term growth. Ensure that financialdata is shared across departments.
Key capabilities include: Scenario Planning Compare various financial scenarios to assess business impact. Investment Planning Evaluate potential investments through dynamic modeling. Data Visualization and Reporting Prophix simplifies financial reporting with intuitive dashboards and customizable reports.
Earn Spend Save Invest Borrow Earn – Keep your finger on the pulse of overall business performance by monitoring your earnings before interest, taxes, depreciation, and amortization (EBITDA). EBITDA measures operational earnings (not capital investments), and it is often a better profitability benchmark than net income.
4) Close and Consolidation For finance teams handling multi-entity or global operations, it simplifies the financial close and consolidation process. Period Close Management - Automate account reconciliation and reduce financial close cycles. Steep Learning Curve Users report that training is needed to utilize features fully.
Tracking specific metrics helps nonprofits see how well theyre doing in areas such as: Fundraising Marketing Program delivery Operational efficiency Overall impact In turn, KPI data helps leaders make informed decisions, optimize resources, and build trust and accountability with donors and stakeholders.
Early IT due diligence, followed by a structured integration plan, ensures scalability and data consistency from the outset. Inconsistent Financial Reporting and Controls: A lack of visibility into financialdata, reporting cadence, or compliance frameworks can result in missed targets and stakeholder distrust.
Operational Efficiency and Cost Management Cost Reduction Pressures : With increasing pressure to reduce operational costs, utilities are investing in ERP systems to streamline workflows, reduce redundancies, and automate financial reporting. Cloud-based ERP systems also lower the total cost of ownership compared to legacy solutions.
This trend is exemplified by services like Netflix investing heavily in non-English language content, creating regionally popular shows like Money Heist (Spain) and Squid Game (South Korea). It ensures that all financialdata is centralized and aligned across departments, reducing inefficiencies and improving decision-making.
Within the industry, it is estimated that Real Estate Investment Trusts (REITs) supported 3.2 million jobs in 2021 , according to a study commissioned by the National Association of Real Estate Investment Trusts (Nareit). What Are Real Estate Investment Trusts? How Many Real Estate Investment Trusts Are There in Total?
If you’re brand new to nonprofit accounting, the Chart of Accounts might be the best place to start. Because even if you only have one bank account, bill, investment, or expense, you’ll need one. What is a Chart of Accounts? How to Organize a Nonprofit Chart of Accounts . Assets-1000s.
If you’re like many people, you probably think that there is a single set of accounting rules that every company must follow. . But that’s not quite true—nonprofits face a decision between 2 different accounting methods for tracking their financial activity: cash accounting vs. accrual accounting.
AI in the “Real World” While these powerful tools seem to have a near mastery of natural language communication, they are not necessarily designed to possess many of the skills required by finance and accounting professionals. However, they still have a place in corporate finance and accounting.
And thanks to several nine-figure investment deals, BaaS, expense management, payroll and B2B eCommerce are now in the spotlight. million in pre-Series A funding recently announced, the company is looking to expand its offering and launch new products that include accounting solutions. Zerone Microsystems Private Limited.
20) it has released its new ACH Account Verification API. In a press release , the company said the service enables payment and investment app developers to quickly verify account details required to initiate inbound ACH account transfers. Finicity announced on Tuesday (Sept.
APIs offer third-party FinTech firms new opportunities to make use of valuable data stored within traditional bank accounts. In some instances, these systems deploy this data to create a solution that banks haven’t developed themselves, often due to restricted investments in small business product development.
BlackLine recently published a report titled, Finance & Accounting: in a Post-COVID World: Navigating the Changing Landscape. The pandemic has exposed gaps in the policies, the processes, the technologies that finance and accounting rely on. In the new normal, response time to changes is as critical as the accuracy of data. “We
Choosing the right accounting software is important. For single and multiple family offices, governance is key to financial success and is an important element of your organizational structure. Proper control allows your office to collect, calculate, and present financialdata according to regulatory rules.
The accounting industry is undergoing profound transformation due to rapid technological advancements across all sectors in the market. Changes from manual record-keeping to sophisticated software solutions has undeniably shifted the accounting landscape, bringing in an era of heightened efficiency and accuracy.
In today’s rapidly evolving business landscape, the integration of technology into accounting practices has shifted from a luxury to a necessity. With the demands of modern businesses continuously growing, leveraging technology to streamline accounting processes is crucial for maintaining accuracy, efficiency, and competitiveness.
BlackLine commissioned independent global research firm Censuswide to survey over 760 institutional investors across the world , which included 100 Singapore institutional investors, to establish their attitudes to financial risk, due diligence and reporting.
One of the most sought-after tools is a platform or software to integrate your fundraising and accountingdata seamlessly. This makes it challenging to create technology that tracks data for fundraising purposes while still following accounting principles. So why does it seem so hard to find this unicorn platform?
Leveraging technology to streamline accounting processes is no longer a luxury but a necessity. Discover how tech-enabled tools can transform your real estate accounting. The Challenges of Real Estate Accounting Real estate accounting is multifaceted, involving everything from property management to investment analysis.
PayPal has re-upped its stake in Tink with an investment of an undisclosed size that was part of a previously announced 90 million euro funding round. PayPal’s first investment in Tink , which enables FinTechs to access customers’ financialdata, was in June 2019 and totaled $11.2 This is where the market is heading.”.
16) that it has received strategic investments from Mastercard and Visa. The investments were part of a previously disclosed $250 million Series C funding round that took place last year. Visa’s investment in Plaid is the latest way we are bringing the global scale, brand, security and reliability of Visa to the FinTech community.”.
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