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From the ongoing global conflicts to the lingering effects of high inflation, corporatefinance professionals are gearing up to navigate an environment marked by volatility and uncertainty. Staffing challenges and technology adoption Staffing emerges as a central theme for corporate treasurers.
Corporatefinance teams were not simply tasked with finding ways to continue operations in a remote work environment as a result of the coronavirus crisis. There were cases where some of these finance teams could not even understand what their cash visibility looked like.”. The Biggest Pain Points, Revealed.
The technology is proliferating financial markets, particularly for some of the world’s largest financial institutions in need of enhanced compliance solutions. More than three-quarters of accountants surveyed by BlackLine last year said they believed AI would play a “significant” role in corporate accounting.
While some corporatefinance solutions providers are taking the outdated technology to task and focusing on shifting finance professionals onto new platforms, others are attempting to work with Excel spreadsheets and address areas of friction like manual data entry.
Technology advances bring the high-touch experience to more clients, large and small. The project’s deployment required the collaborative efforts of several bank departments, including business, legal, compliance, engineering, security and IT, as well as outside technology vendors Metaco and Avaloq.
When it comes to payroll, it may not seem that a steady, consistently timed outflow of cash to employees plays a prominent role in overall cash flow strategy. But the payroll landscape is evolving rapidly, with potentially significant implications for corporatefinances. The Digitization Drive.
Yet, corporatefinance especially is “operating, more or less, the same [way] it has for 20 years prior. Beyond time windows, all too often, finance functions are still tied to PDFs, Excel files and email. Distributed ledger technology (DLT), in essence, is a distributed database that securely stores and organizes data.
“There is clearly a lot that corporate treasurers are worrying about and focusing on.” ” Corporatecashmanagers may not be able to control many of those challenges, like ongoing geopolitical instability resulting in trade tensions and financial market volatility, or the rising threat of cyberattacks.
Financial services firm ION is introducing the industry’s first treasury management solution for cash forecasting, powered by machine learning, the company announced on Thursday (Feb. “By using historical data, the solution has the potential to create cash forecasts more quickly.
As enterprise digitization initiatives permeate beyond IT departments and into corporatefinance functions, executives are exploring new approaches to modernizing the ways they manage money. With its close ties to payments and cashmanagement, the AR function can drive revenue growth and cost savings.
RPA is igniting chatter in the corporatefinance community as professionals explore next-level analytics and automation functionality to enhance processes like accounts payable, accounts receivable, cash flow management and more. Below, PYMNTS breaks down the more than $912 million raised by B2B FinTech firms this week.
As the corporate treasurer takes on a more strategic role in the enterprise, treasury and cashmanagementtechnologies can often be stuck in the past, failing to keep up with financial execs’ needs. Despite the data challenge, pressures on CFOs and treasurers continue to mount.
One of the products of that is that cash is again king, as it was in the ’90s.” Corporates are hoarding cash, and that has meant a return to dividends and distributions but also more conservative cashmanagement. Diminishing Returns Enthusiasm for sustainability-linked finance, by contrast, has waned.
” The bank posted a 5 percent increase in its loan book, reports said, mostly driven by corporatefinance, trade finance and mortgages. Revenues climbed 3 percent to $7.2 billion, though operating expenses also increased by 7 percent to $4.9
Some B2B payments players have predicted that, on the accounts payable side of the transaction, higher interest rates will lead companies to extend their payment terms and to seek out AP technologies that offer integrated supplier financing solutions to help with that cash flow crunch on the supplier side.
Corporates may not be adopting faster and real-time payments technologies as fast as consumers, but that doesn’t mean the acceleration of payments isn’t impacting corporatefinance.
Among the speakers was Graham Taylor, Vodafone’s assistant treasurer, who emphasized the potential for PSD2 regulations to have a profound impact on corporatecashmanagement and payments. Most global treasurers surveyed said they plan to invest in technology and automation, as well as cybersecurity, in the coming year.
Automated accounting and cashmanagementtechnologies are a force to be reckoned with among today’s financial professionals, he said. “For a lot of CFOs, their departments are being eliminated,” the executive said of the rise in automated solutions within corporate treasury, finance and accounting departments.
Those following blockchain news may have heard that HSBC completed what it said was a first for the technology in its application in the trade finance space. LG CNS, the subsidiary that provides IT technology and services to the enterprise, has already launched its own blockchain service, dubbed “Monachain.”
company executives to travel to and from Cuba, taking their corporatefinances with them. It’s also a move that could have significant impacts on the ability for corporate travelers to operate in Cuba (and stay in hotels there), in more ways than one. . brand, Four Points by Sheraton, since 1959. ” .
TD Bank Head of Corporate Products and Services Rick Burke said corporate treasurers need to begin a dialogue with their banks and financial services partners to integrate adequate security controls within their corporations. Misconduct involving corporatefinances, however, almost always resulted in termination.
The heat of competition has hit record levels in the financial services and technology space. Advancements in FinTech are enabling corporate payments tools to become not only more efficient but a strategic part of the enterprise. It helps them adopt technology without the high costs.” “It brings value to the client.
Offerings from FIs, like mobile banking and electronic payment support, can help encourage businesses to make the shift to ePayments, the executive said, but legacy payment technologies also need to be addressed. In the consumer space, the adoption of mobile technology has greatly outpaced the B2B side,” the executive stated.
In this week’s Data Digest, we take a trip around the world to uncover the evolving habits of business payments and cashmanagement. is strong, with the majority citing new technologies, an improving economy and favorable lending conditions as factoring into why they believe today is a great time to be in their position.
These developments are taking place in a background of long-term changes, which are currently shaking up the world of corporatefinance. In addition, as bank regulation is becoming increasingly complex and impact the access to liquidity, corporates must implement new technological solutions to face them.
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