Wed.Oct 09, 2024

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The transformative impact of AI on credit memo

Future CFO

A recently published whitepaper by Moody's looked deeper into the transformative impact of artificial intelligence on the credit memo process, including the challenges and solutions to boost efficiency in banking operations. The whitepaper, titled " Transforming Banking Operations with AI: A Detailed Look at Automated Credit Memo " delves into the current state of banking and the need of AI driven solutions as well as the role of AI in automating credit memo process.

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KPMG backs 120-credit hour alternative CPA licensure option

CFO Dive

Paul Knopp, KPMG U.S. Chair and CEO, called the deepening accounting talent shortage “a brewing crisis” that needs to be addressed in the “near term.

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ATM: Valuation is an Exercise in Faith with Aswath Damodaran

Barry Ritholtz

 ATM: Valuation is an exercise in faith with Aswath Damodaran. (October 9, 2024) Do you understand the difference between price and value? How much faith do you have that any stock or market will eventually return to its intrinsic value? Full transcript below. ~~~ About this week’s guest: Professor Aswath Damodaran of NYU Stern School of Business is known as the Dean of Valuation.

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Election delays some M&A deals: report

CFO Dive

Most dealmakers are concerned about the potential impact of upcoming elections, the research found.

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Why Tech-Forward Tax and Accounting Firms Have the Inside Track to the Future

Speaker: Joe Wroblewski, Sales Engineer Manager

Automating time-consuming manual tasks can save your firm hundreds of hours–and thousands of dollars. But it can also have longer-lasting benefits, like helping you attract and retain the next generation of CPAs, and we don’t need to tell you how important that is amid the current generational staffing crisis in the tax and accounting profession. You'll want to save your seat for this new webinar with industry expert Joe Wroblewski, where we'll explore how to: Maximize ROI with Cost-Effective Te

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Webinar: Optimizing Fit-to-Standard with SAP Cloud Solutions, Clean Core and More

Bramasol

When it comes to implementing ERPs and business systems, Fit-to-Standard vs Fit-to-Custom has always posed an important challenge for companies. Leaning toward custom code can provide uniquely tailored processes but can also lead to “digital debt” in terms of systems that are expensive to maintain and update. On the other hand, Fit-to-Standard has often been viewed as not being sufficiently responsive for tailoring process to meet a company’s specific needs.

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Cultivating Organisational Success Through Effective Leadership

CFO Talks

Cultivating Organisational Success Through Effective Leadership Leadership plays a critical role in driving the success of any organisation, especially when navigating the complexities of today’s fast-paced business world. As a CFO in South Africa, you’re not only responsible for financial oversight but also for shaping the culture and direction of your company.

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Microsoft Taps Nuclear Power To Fuel Growing AI Demand

Global Finance

Microsoft is giving nuclear plant Three Mile Island a second chance to produce electricity. Until now, Three Mile Island was known for its partial nuclear meltdown in 1979, but years later, nuclear power is perceived differently. It is seen as producing clean energy because it doesn’t emit greenhouse gases, and demand is high from tech giants eager to feed their data centers, such as Microsoft, Google, Meta Platforms and Amazon Web Services.

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Gifting Without The Headache: Tax-Efficient Strategies To Stay Under Gift Reporting Limits

Nerd's Eye View

Gifting is a common planning topic discussed between advisors and clients – often raising questions about which gifts are taxable, need to be reported to the IRS, or may be exempt from reporting altogether. The rules around gifting are nuanced and can create confusion for clients, but advisors with a clear understanding of gifting strategies can guide them toward informed decisions.

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Instant Satisfaction

Global Finance

Bank partnerships proliferate as the quest to deliver real-time payments intensifies. But with added speed comes added risk. Why settle for slow? When it comes to processing payments, it’s better for a bank to be “always on,” says Debopama Sen, Citi Services’ head of Payments in the Treasury and Trade Solutions business. Big banks, like Citi, are jockeying to be their clients’ single “port of call” when it comes to transacting.

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Live Demo - Supercharge your Month End Close

Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i

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Remembering Ratan Tata’s legacy

CFO News

Ratan Tata’s vision, compassion, and relentless pursuit of excellence have left an indelible mark on India and the world. While India is growing leaps and bounds, India Inc. will miss the absence of Ratan Tata, who built the foundation. Here is a quick overview of his life and achievements.

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Africa: Remittance Startup Targets Fees

Global Finance

Benjamin Fernandes’ goal for the fintech startup he launched in 2018, NALA, was to speed up money transfers within his native Tanzania. It now operates in nearly a dozen African countries, providing African ex-pats working in the US and 20 European countries with a more affordable way to send money home. Last year alone, those outside Africa spent $8 billion in transfer fees.

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Ratan Tata passes away, an era ends

CFO News

The greatest leader of India and the most famous businessman of India Inc, Ratan Tata has passed away at the age of 86. He was admitted to a Mumbai hospital couple of days back. Tata Group Chairman N Chandrasekaran has issued a statement.

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FinOps initiatives grow in importance, study finds

Future CFO

Financial operations (FinOps) initiatives are growing in importance amid the DevOps trend toward continuous integration and continuous delivery (CICD) of modern application architectures, according to data and analytics company GlobalData. In a press release, GlobalData says the practice of FinOps represents a relatively new operational framework and initiative growing in recognition among enterprises undergoing digital transformations by migrating applications to the cloud and/or creating clo

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Mid-Year Review: How to Ignite Employee Potential Through Meaningful Feedback

Mid-year performance reviews aren’t just boxes for HR to check. Paycor’s toolkit empowers leaders to: Identify high-potential team members. Boost engagement with meaningful feedback. Support struggling employees. Nurture top talent to drive results. Learn how to ignite employee potential through meaningful feedback. When you nurture top talent, everybody wins.

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Sebi outlines specific due diligence of investors, investments of AIFs

CFO News

Sebi has instructed Alternative Investment Funds to carry out due diligence on investors and investments to ensure compliance with laws and prevent illegal activities. This includes special checks for investments from countries bordering India and contributions over 50 percent. AIFs must report the status of existing investments by April 7, 2025.

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Taiwan: Mergers And Hostile Takeovers

Global Finance

CTBC Financial Holding’s bid to acquire smaller peer Shin Kong, which aimed to create Taiwan’s largest financial conglomerate and a regional competitor to firms like Hong Kong’s Standard Chartered Bank, Japan’s Nomura Holdings and Singapore’s United Overseas Bank, came to a sudden halt in September. The island’s Financial Supervisory Commission (FSC) rejected the hostile takeover, stating that the plan lacked details, would lead to volatility in the firms’ share prices and, ultimately, sharehold

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Over 34.84 lakh IT audit reports filed on e-filing portal up to Oct 7: Finmin

CFO News

The finance ministry reported over 34.84 lakh audit reports, including approximately 34.09 lakh Tax Audit Reports (TARs), were filed for AY 2024-25 by October 7. This marks a 4.8% increase from the previous year. Extensive outreach and helpdesk support facilitated taxpayers in timely compliance, with the helpdesk handling 1.23 lakh queries during September and October.

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The Dual Purposes of Accounting and Fundraising Software

The Charity CFO

Modern nonprofit leaders are always looking for ways to use technology to make everyday tasks easier. One of the most sought-after tools is a platform or software to integrate your fundraising and accounting data seamlessly. So why does it seem so hard to find this unicorn platform? The short answer: these two datasets serve different purposes. This makes it challenging to create technology that tracks data for fundraising purposes while still following accounting principles.

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Your Accounting Expertise Will Only Get You So Far: What Really Matters

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. If you’re aiming for the summit, the air gets thinner—and what got you here won’t be enough to get you to the top (a concept first popularized by Marshall Goldsmith in his book What Got You Here Won’t Get You There ). What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level.

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Navigating the Complexities of Tax Compliance for Financial Services

CFO Plans

As businesses expand, especially within the financial services sector, the intricacies of tax compliance can become a formidable challenge. The stakes are high, with severe repercussions for non-compliance, but these challenges also present immense opportunities for optimization. To thrive in this environment, companies must adopt strategic approaches that not only ensure compliance but also enhance their financial health.

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Top CFOs say RBI’s stance shift to ‘neutral’ provides clarity, to continue with strong capex plans

CFO News

Finance honchos reacted positively to the RBI's decision to maintain the repo rate at 6.5%, viewing it as a stabilising force for investments and capital expenditure amid global uncertainties, while expressing optimism for potential future rate cuts.

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Standard Chartered Utilizes AI-Based Talent Marketplace

Global Finance

Standard Chartered is using an artificial intelligence-based Talent Marketplace, developed by New York-headquartered Gloat, to match employees’ skills with project-specific internal gigs. Using a “skills passport,” employees can apply for projects, enhancing their skills and unlocking opportunities to participate in more internal roles. Following an initial 12,000-person pilot in India, which resulted in the biggest increase of year-on-year career satisfaction, it has been used by 39,000 employe

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India loses its precious 'Ratan': A timeline of the business tycoon's life

CFO News

Ratan Tata, the visionary business leader and philanthropist, left an indelible mark on India's corporate landscape. Here's a glimpse into the remarkable life and achievements of the titan, whose legacy will continue to inspire generations.

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The Hidden Science Behind Why Finance Teams Resist Change—And How to Fix It

Speaker: Kim Beynon, CPA, CGMA, PMP

The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.

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C-suites say both Trump and Harris would hurt U.S. competitiveness: PwC

CFO Dive

The hard-to-predict outcome from the Nov. 5 election has compelled CFOs to scale back business expectations and forgo investment, recent surveys show.

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Mukesh Ambani pays tribute to Ratan Tata, says a great loss for India

CFO News

Mukesh Ambani says Ratan Tata's absence is a monumental loss for India. He recalled Tata’s visionary leadership and enduring influence on the nation and its values.

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Allcargo’s ECU Worldwide names Stephen Dunn as Global Finance Director

CFO News

​​Stephen Dunn will lead the company's global finance operations and head the transformation of its financial processes to support the next phase of business growth. He will be based at ECU Worldwide’s office in Dubai.

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India regulatory reform could hasten homecoming of IPO-bound startups

CFO News

India's removal of the National Company Law Tribunal approval for reverse flip mergers is accelerating the return of Indian startups domiciled abroad. This change has reduced the process time significantly, encouraging companies like Razorpay and KreditBee to return in anticipation of better IPO prospects in India's flourishing market.

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Doing More With Less: The Modern Finance Miracle

Speaker: Mark Gilham, FCCA, CPP

Finance used to be the function that counted, now it's the one that’s counted on. 📊 For accounting firms, controllers, and finance leaders, expectations are rising faster than headcount. Businesses want agile forecasts, granular analysis, seamless reporting, and smart automation—often without added resources while demanding uncompromised accuracy and compliance.