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Evolving role Historically, CFOs were the stewards of financial reporting and compliance. However, the increasing complexity of global markets and the pace of technological change have redefined this role. Arellano-Geronimo emphasises the importance of maintaining a balance between innovation and compliance.
In this Insights news post we provide an updated look at the four key areas of AI, Cloud, Compliance and Sustainability. One of the key factors for success with agentic AI applications will be providing secure access to enterprise wide data sets for real-time analysis and decision making.
Source: Data collected during the FutureCFO Conference series in 2024, Cxociety Research Coming into 2025, as finance leaders face mounting pressure to do more with less while driving growth and maintaining compliance, they are turning to digital solutions and holistic approaches to reshape and modernise financial processes.
Cloud-based financial systems have improved collaboration, making data more accessible while ensuring compliance with evolving regulations." Matthew Hardman "Unlike static AI models, RAG combines large language model (LLM) responses with live data sources to ensure the most current insights," he explains.
Discover how SAP solutions lay a solid foundation for audits and next level PCAOB or AICPA compliance reviews. For any public company, the goal of successfully complying with periodic financial reviews by external auditors cannot be overstated.
Listed companies (on the stock exchange) They must meet strict financial disclosure rules, often set by stock market regulators like the JSE (Johannesburg Stock Exchange). Knowing the specific rules for your industry helps you prepare in advance and avoid compliance issues. This saves time and reduces the risk of mistakes.
What is IFRS Compliance? Being IFRS-compliant means that a company follows a set of internationally recognised accounting rules when preparing its financial statements. These rules, set by the International Accounting Standards Board (IASB), are designed to make financial reports clear, comparable, and reliable.
Advanced data tools allow firms to simplify the due diligence process by assessing vast datasets with speed and precision, uncovering insights that were previously unattainable. Centralized Data Management : Cloud-based platforms facilitate real-time data access and collaboration, breaking down silos and improving operational agility.
To truly understand and manage credit risk today, modern companies must look beyond the basics and leverage new technologies, alternative data, and broader information sources. They must navigate a web of challenges ranging from cyber threats and regulatory compliance to the intricacies of global supply chains.
If You Dont Use the Data, Someone Else Will! As the role of the finance leader evolves beyond compliance and control, strategic decision-making increasingly relies on the intelligent use of data. But not just any data. Market demand? Supply chain resilience? Profitability by product, region, or channel?
Numbers Never Lie but They Rarely Tell the Whole Story For too long, financial analysis has been seen as a back-office functionprocessing numbers, producing reports, and ensuring compliance. A sales dip could be due to poor customer service, a marketing campaign targeting the wrong audience, or a sudden change in consumer trends.
Businesses that integrate analytics into their planning can align operations with financial goals. For example, if a company aims to expand online sales, FP&A teams analyze marketing costs and expected revenue to determine budget allocations. Present financialdata with clear charts for faster decision-making.
A new survey shows that an increasing number of mergers and acquisitions (M&As) are not going through because of concerns over General Data Protection Regulation (GDPR) compliance. As we track transactions, it will be very telling how these challenges will impact organizations’ due diligence processes.
Implement a unified financial reporting and ERP software tailored to healthcare needs. Ensure Consistent FinancialData Consistent financialdata is another critical component of accurate reporting, analysis, and decision-making, all of which are crucial for supporting patient care initiatives.
Technological advancements, evolving market demands, and a heightened focus on sustainability are converging to reshape the finance landscape. The ability to analyse data, identify insights, and communicate those insights effectively is highly valued. The finance function is undergoing a seismic shift.
While regulators had transparency and financial security in mind when introducing more stringent requirements for banks following the global financial crisis, financial institutions faced a sudden surge in the burden compliance. There is a silver lining, however, if financial institutions are willing to recognize it.
Banks are required to share customer data with rival FinTech firms, and “this may need to be the case with Big Tech, too,” the FSB said in the report. BigTech’s entry into finance has had benefits, like financial inclusion in emerging markets and underbanked economies. However, there could be risks to financial stability.
A controller primarily oversees accounting processes, ensuring accurate financial records and compliance with regulations. In contrast, a CFO is a more strategic financial professional, focusing on long-term planning, investor relations, and overarching financial strategy.
Technology has become the cornerstone of any strategy to attract and retain these younger generations, enabling firms to provide the digital experiences, data-driven personalization, and socially responsible investment options they expect. A demanding customer base Capturing the attention and loyalty of Millennials and Gen Z is no easy feat.
Given that Asia has varying levels of technological readiness, Cheah suggests that finance heads look into the following: Diverse Digital Maturity: While tech-savvy markets are leading the way in AI adoption, many emerging APAC economies, still grapple with outdated systems, multiple systems and limited digital infrastructure.
Adding ERP in finance departments is very popular for good reason, as the system consolidates financialdata automatically and generates reports quickly and simply, regardless of file type and without any need to crosscheck and rekey data. Manufacturing ERP is designed to optimize efficiency in quality and compliance.
Revenue recognition challenges are rising as companies adopt more complex business models, while the rise of cloud ERP solutions is enabling companies to streamline their operations, ensure compliance, and adapt to new revenue streams. ASC 606/IFRS 15 Compliance : Under the ASC 606 (U.S.)
Driven by sweeping changes such as digital transformation, globalization of markets, the subscription-based Digital Solutions Economy™ (DSE), carbon-accounting mandates, a rising emphasis on artificial intelligence, and other disruptive trends, the role of Chief Financial Officer (CFO) is undergoing radical transformation too.
In this episode, we dive into five issues that are at the heart of optimizing Quote-to-Cash to Compliance with SAP Revenue Recognition and subscription management applications, including complex bundling scenarios. Closing and Reporting: How can we shorten our periodic closing cycles while assuring reporting and disclosure compliance?
The financial landscape is evolving at breakneck speed, driven by big data, globalisation, and digitisation. The pressure on finance leaders to deliver strategic insights and ensure compliance is mounting in this dynamic environment. EPM is becoming especially critical as organisations become bigger data-minded. “In
Asia’s ESG journey BlackLine regional vice-president for Asia, Nikhil Parambath , says Asia's business leaders are focusing on strategic initiatives for long-term growth, with an increasing emphasis on ESG compliance to build trust among stakeholders.
Financial managers are similar to personal financial advisors, except they monitor businesses’ financial well-being instead of individuals. Most financial managers have previous experience working in market analysis and forecasting positions similar to this one. Chief Compliance Officer. Financial Examiner.
More recently, the lab launched its “beyondbanking” initiative, an effort to identify nonfinancial markets that OTP Group could penetrate. It partners primarily with startups in Series A and Series B rounds of investments—those that have already demonstrated strong market traction and a market fit for their products.
This ensures that a drop in revenue doesn’t leave you with a financial crisis. Invest – Beyond your savings, you’ll also want to invest in key areas like talent, technology, and marketing so that you can scale. You’ll be able to make financial decisions with confidence, knowing that you are operating from a strong financial position.
Practical Applications of Predictive Analytics in Risk Management To get started with predictive analytics, you don’t need to be a data scientist. Financial Risk Forecasting Predictive models can analyse your company’s financialdata—such as revenue patterns, cash flow, and expenses—to identify potential financial risks.
The budget and forecast should reflect the Company’s plans, visions, expectations and educated guesses on the market trends. The balance sheet and key financial ratios should tell the strengths and problems of the Company. It’s not easy to go through all the financialdata to identify what’s relevant and what’s not.
Indeed, GenAI, with its ability to collect and interpret financialdata on a vast scale, could force some of the Arabian Gulf region’s biggest banks to rethink their already costly digital banking strategies. AI algorithms analyze vast amounts of data to assess credit risk, detect anomalies, and prevent AML fraud,” Saxena notes.
Robert E Parker "As we look forward to the developments in AI, finance leaders will be in a better position to uncover hidden opportunities and risks and step beyond using structured financialdata by utilising data from across organisational silos enhanced with data from outside the organisation."
Whether it’s streamlining financial reporting, enhancing data accuracy, or ensuring compliance with South African regulatory standards, clearly defining these objectives will guide the entire design process. Choosing the Right Software and Technology Selecting the appropriate financial software is a critical decision.
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.
In the coming year, CFOs will be expected to focus on helping their companies build resilience – whether through critical decision-making backed by a real-time view of financialdata, or ensuring competitive advantage with digital transformation and sustainability initiatives. Steering companies through the economic volatility ahead.
Staying Ahead of Evolving Compliance Challenges The compliance scene is constantly evolving. CFOs must budget for technology investments that support compliance, allocate funds for employee training, and ensure organizational flexibility to adapt to new regulations. Visualize Data Effectively Numbers alone can be overwhelming.
This marketplace offers valuable insights and data that empower businesses to make informed decisions, enhance their operations, and ensure compliance with regulatory requirements. In future articles, I will expand on these use cases and report on the increasing universe of vendors and data providers in this space.
While there were no mega-deals in the B2B startup funding realm this week, it was still a busy time for companies and investors, with many funders targeting companies operating in less common markets. The InsurTech market continues its growth trajectory with Zego , which announced $42 million in Series B funding, reports said this week.
Fundraising Costs : Budget for donor engagement, events, campaigns, and marketing to sustain and grow your funding. Monitor Restricted Funds : Ensure compliance with donor restrictions to avoid operational bottlenecks and keep programs funded appropriately. Cash flow ensures your organization can meet its obligations month-to-month.
The European Commission told Amazon of its “preliminary view that it has breached EU antitrust rules by distorting competition in online retail markets,” according to the statement. India’s Antitrust Watchdog Opens Google Antitrust Case.
IDC forecasts that the APAC GenAI market will grow by 85% CAGR from 2022 to 2027, with the financial services industry as one of the leading adopters. NP: Training AI models to understand and interpret complex financialdata accurately requires dedicated time and resources.
Managing taxes efficiently is one of the most daunting tasks, often leading to stress and potential financial pitfalls. Operational accounting services offer crucial support, ensuring financial health and compliance. Let’s explore expert strategies that can transform your small business’s financial outlook.
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