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Accelerating Financial Reporting, From Monthly Reports To Real-Time Analytics

PYMNTS

According to Kurt Rathmann, CEO and founder of SMB accounting firm ScaleFactor , the month-end close may be the traditional way of doing things, but it forces small business owners to examine data that, by the time a financial report is completed, is too old to be of much use. “The news is about 30 days old at best.”

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How Tech Can Help Uncover The Story Behind Financial Data

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.” Some experts are worried a similar trend can be seen within the financial functions of the enterprise itself, with automated accounting and forecasting capabilities now offered quicker and more accurately via robots than humans. The nature of financial reporting is to communicate facts aggregated using accounting rules.

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B2B FinTech Investment Not A Total Bust

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Earlier in the week, we reported on the bust that is B2B venture capital this week. There hadn’t been any investments in B2B finance and payments startups in the first half of the week, a void that casts doubt on those earlier reports of investors cozying up to startups targeting businesses, not consumers. Accounting.

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How Data Guides A New Era For The ERP

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The boom in B2B FinTech has introduced a flurry of new solutions and platforms from which corporates and small businesses can choose. It’s a result, explained Gillette, of the legacy ERP no longer being suited to address the full range of businesses’ diverse financial and process management needs. The ERP’s Role in a FinTech World.

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The CIO Emerges As A Key Asset For The CFO, Says Workday

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Amid the flurry of B2B FinTech innovation aiming to transform organizations’ back offices, there is often one common threat within the disruption: the need for previously siloed, disconnected systems and processes to integrate with each other, offering a streamlined, holistic view of the enterprise.

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Inside The Factors Shaping Businesses’ Faster Payment Tool Adoptions

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Managing Cash Flow Reporting in B2B. Businesses also prioritize having up-to-date financial status data that will enable them to carefully oversee liquidity across all their various bank accounts and to make accurate decisions. On the consumer side, [cash flow reporting is] not a concern,” Carter said.

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Citigroup Fined $56M In UK For Regulatory Reporting Miss

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The regulator said the data it received from Citigroup was not acceptable, and the way the bank handled the reporting processes was not effective. Banks have to regularly report financial data to make sure they’re operating within the law, and to make sure they have buffers against market shifts in terms of risk and capital.