Wed.Jun 21, 2023

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Risks and Benefits of Invoice Factoring to Improve Cash Flow

CFO Selections

Invoice factoring, also known as accounts receivable financing, improves cash flow by selling your company's outstanding invoices to a factoring company for a fee. As with any financial strategy, it's crucial to understand these risks and weigh them against the potential benefits. Invoice factoring can be a powerful tool for improving cash flow, but it needs to be used wisely as part of a well-considered overall financial strategy.

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Judge delays hearing on suits piling up against SVB, execs

CFO Dive

Just over three months after SVB Financial Group was closed by regulators, at least four proposed class actions have been filed against the firm and its former top executives.

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Trending Sources

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MCA21 continues to misfire even as businesses bear the brunt of persistent glitches

CFO News

As per various reports, professionals have been encountering issues with site for a year now. It all started when MCA and LTIMindtree (which maintains the portal) shifted to a new version of the portal, called Version 3 (or V3).

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Powell signals Fed likely to hike rates again this year

CFO Dive

High inflation has persisted far longer than Fed policymakers and private sector analysts expected, Powell said in testimony to a House committee.

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Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

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RIA Code Of Ethics: Important Nuances To Note In Relatively Straightforward Requirements

Nerd's Eye View

All investment advisers are fiduciaries that owe a duty of care and loyalty to their clients, and, in an ideal world, advisory firms and their staff would abide by these requirements without the need for a prescriptive code of ethics. However, the early 2000s were plagued by a variety of SEC enforcement actions that alleged fiduciary duty violations – primarily involving trading abuses by investment advisory personnel – which led the regulator to create a rule (that became effective

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Go First seeks up to Rs 600 crore in additional funds, says report

CFO News

India's Go First airline is seeking an additional $122m in funding from lenders, according to unnamed banking sources cited by Reuters. Go First, formerly known as GoAir, is looking for funds to support its plans to resume operations in July and operate 78 daily flights with 22 aircraft. However, the resumption of operations depends on a number of factors, including regulatory approvals, the report added.

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How Infinera’s CFO practices what she preaches

CFO Dive

CFO Nancy Erba dishes on how she strives to lead by example when it comes to women in the workplace.

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Consumer companies slash June output to clear inventory

CFO News

Most chief executives have predicted a demand revival by Diwali and, based on inventory clearance by then, indicated to manufacturers festive season orders higher than last year.

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Prudential appoints new CFO

Future CFO

Hong Kong-listed Prudential announced recently the appointment of Ben Bulmer as CFO, subject to regulatory approval. Bulmer is currently CFO, Insurance and Asset Management, having previously served as CFO of Prudential Corporation Asia, the company said. He has served in a variety of leadership positions across the company’s finance function in Asia and London since joining in 1997, the company added.

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How to Build the Ideal HR Team

HR doesn’t exist in a vacuum. This work impacts everyone: from the C-Suite to your newest hire. It also drives results. Learn how to make it all happen in Paycor’s latest guide.

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Financials, capital goods & auto stocks net over 90% of FPI inflows in June

CFO News

Almost 92% of FPIs inflow between June 1 and 15 went into just three sectors: financial services, capital goods, and auto, which have been favourites of overseas fund managers since the beginning of the year.

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When Does the CFO Order Office Supplies?

CFO Simplified

What happens when you combine an overworked CFO / office manager, a lack of assigned administrative responsibilities, and an old and complex equity distribution spreadsheet? Important partner payments become chaotic, rushed and often riddled with errors. A mid-sized law firm with 15 partners and 30 attorneys suffered from a case of “who was doing what.

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Taking Sebi order in ZEE case seriously: Sony

CFO News

"There have been several erroneous press reports recently speculating about the future of ZEE's planned merger with Sony Pictures Networks India following Sebi's interim order against Subhash Chandra and Punit Goenka. We take very seriously the SEBI interim order and will continue to monitor developments that may affect the deal," SPE said in a statement.

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Who’s in Charge Here?

CFO Simplified

The Managing Partner of a multi-state firm with 37 partners had concerns about firm operations and its plans to grow the business. It hired CFO Simplified to evaluate workflow, financial reporting, and provide ongoing strategic guidance. Two days into the research, the office manager, who had been in this role for 20 years and had primary responsibility for all back-office processing, walked into the Managing Partner’s office, resigned, and refused any further contact with the firm.

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Planning Your Restaurant's Path to Profitability

Speaker: James Kahler, COO of Full Course

Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.

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RBI imposes monetary penalty on three Co-operative Banks

CFO News

The Urban Co-operative Bank Ltd, Rourkela, Andhra Pradesh Mahesh Co-operative Urban Bank Ltd, and the Dombivli Nagari Sahakari Bank Ltd were penalised for non compliance of customer and cybersecurity directions.

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10 Wednesday AM Reads

Barry Ritholtz

My Summer Solstice morning reads: • Is Crypto Dead? Or can the industry recover? Even before the SEC announcements, crypto was in trouble. Dozens of firms had failed, millions of individual investors had plunged into the red or cashed out, and billions of dollars of institutional investment had moved on. Beset by long-standing problems of its own invention, the industry now faces not just a regulatory crisis but an existential one too: Is crypto down, or is it dead?

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PNB Housing Finance plans a comeback in corporate lending business

CFO News

The mortgage lender, which was hurt by the meltdown in real estate, is planning to resume business in construction finance for residential projects in the second half of the fiscal year, returning with lessons from past experience. Monitoring in the real estate industry is also stronger now.

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A Complete Review of FP&A Software Datarails

The Finance Weekly

Who is Datarails meant for? Datarails is meant for all types of small and medium sized businesses (SMBs). Datarails’ FP&A software is known to scale with your business and provide flexibility and familiarity due to its native Excel functionality. Based on our research of customer reviews , Datarails is best suited for SMBs that primarily use Excel.

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How Automation is Driving Efficiency Through the Last Mile of Reporting

Speaker: Jamie Eagan

As organizations strive for agility and efficiency, it's imperative for finance leaders to embrace innovative technologies and redefine traditional processes. Join us as we explore the pivotal role of digitalization and automation in reshaping what is commonly referred to as the “last mile of reporting”. We’ll deep-dive into why digitalization is no longer a choice, but a necessity for finance departments to stay competitive in a fast-paced environment touching on: 2024 trends for the Office of

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India Inc has 40,000 cybersecurity job openings right now. Here's how much you stand to earn

CFO News

The top job roles identified in the research study includes IT auditor, Information Security analyst, Network/IT Security Engineer/Specialist, Security Testing/Penetration Tester, and Computer Forensics analyst, with a base pay ranging from 3 to 6 lakhs for 0-3 years of experience.

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Indexing is Well Understood

Barry Ritholtz

“It is difficult to get a man to understand something when his salary depends upon his not understanding it…” – Upton Sinclair Since the financial crisis, we have seen repeated attempts at attacking indexing all of which have failed — both legislatively and in terms of investors voting with their dollars. Recent attempts – see this , this , this , and this – have similarly failed to persuade investors of the evils of indexing.

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ZEE-Sony merger will go through, whether I'm CEO or not, says Punit Goenka

CFO News

The merger between ZEE and Sony will go ahead regardless of CEO Punit Goenka's position, as it will benefit 96% of the company's shareholders. Sony remains committed to the December 2023 contractual deadline, though a September merger had been previously proposed. The companies are currently at an advanced stage of integration, but regulations and non-compete agreements remain obstacles.

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Two key pacts to open US defence sector for Indian firms

CFO News

Initial discussions have started on the Security of Supply Arrangement (Sosa) and Reciprocal Defence Procurement Agreement (RDP). Once negotiated, it will drastically increase opportunities for Indian manufacturers to engage with US defence majors. The negotiations are expected to take time but have been mentioned in the Indo-US roadmap for defence industrial cooperation that will get a significant boost during the PM's ongoing visit.

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Accounting Software and ERP Readiness Guide

In this white paper, we explore the factors to consider in deciding whether the time is right for your Company to consider a new ERP or accounting software, the total cost of ownership and plans necessary to make the potential leap to these systems.

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Indians acquire a taste for scotch, doubling its sales

CFO News

The Scotch whisky market grew 33% year-on-year to 7.5 million cases (of nine litres each) in 2022, showed the latest data from global alcohol market analysts IWSR sourced from industry executives. In 2020, India consumed 3.9 million cases of the premium whisky made in Scotland.

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Lower operating profit may hurt Vedanta's ability to service debt

CFO News

Vedanta's earnings before interest, tax, depreciation and amortisation fell 22% on year to ₹35,241 crore in FY23 on lower prices of aluminum, lead and silver and a rise in raw material costs though company managed to better its operational performance.

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Fed chief Jerome Powell says inflation fight still has a 'long way' to go

CFO News

After lifting rates by 5 percentage points since March 2022, the Fed this month took a breather to assess the effects of its actions. Investors broadly expect increases to resume at the Fed's July meeting.

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India’s a priority market for Google, excited by tech innovation here: Senior VP Prabhakar Raghavan

CFO News

The way ahead to develop artificial intelligence (AI) systems is to "engage with scientists and technologists who understand" the technology behind it, the top Google executive said.

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Recruit and Retain New Blue-Collar Talent

Blue-collar jobs have a branding problem. One company, GEON, partnered with Paycor to find the solution. Learn how to attract, engage, and retain blue-collar employees, helping them build meaningful careers – and support your company’s goals.