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Moody’s Corporation is partnering with the Foundation for Small Business Development (FFSBD) to connect small businesses with cashflowforecasting solutions and other financial resources.
Growth of FinTech funding seems unstoppable, with the latest analysis from Hampleton Partners finding enterprise financial services and integration, online financial services, enterprise financial software and Software-as-a-Service (SaaS) riskmanagement as some of the hottest spots for investors this year.
Some of the biggest industry trends, including faster payments, open banking and bank-FinTech collaboration, have found their ways into the Canadian market, the B2B payments space is not immune to disruption from these shifts. Such visibility enables real-time analysis of risk exposures for more agile FX hedging and riskmanagement.
The executive added that he feels it is unlikely the B2B late payments culture of the U.K. Labour Leader Jeremy Corbyn took a loud stance on the issue in the B2B payments space, saying he would “declare war” on large corporates that pay their small suppliers late. will change anytime soon, despite innovations like eInvoicing.
Digital and automated tools that provide accurate and real-time cashforecasting and visibility into financial standings will be valuable, but as Barker said, cashflowmanagement isn’t simply about understanding where money is in one moment.
The rise in B2B FinTech has complicated the picture of treasury management, forcing it to rethink its position in the enterprise. The more payment, cashmanagement, cashflowforecasting, ERP and other digital platforms integrated, the more difficult it can be for a company to envision its own financial health across all of this data.
There are three key areas of improvement that CFOs told Kyriba they would like to see among their organizations’ treasury teams: enhanced riskmanagement, cashmanagement and working capital management.
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