Sun.May 14, 2023

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What Is the Main Purpose of an ERP System? A Comprehensive Guide

Navigator SAP

Enterprise resource planning (ERP) systems are powerful tools designed to help enterprises manage their resources more effectively and streamline their daily operations by automating the critical areas of their businesses. This is why the ERP system market has been on a steady rise over the last five years.

Planning 130
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ESMA tones down CCIL stand in draft to RBI

CFO News

The European Securities and Markets Authority (ESMA) has proposed less-stringent rules on inspecting and penalising Indian financial market institutions such as the Clearing Corporation of India (CCI) to enable unhindered trading by European banks, said two people familiar with the matter.

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Trending Sources

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898: Making Finance Proactively Persuasive | Russell Lester, CFO, Versapay

CFO Thought Leader

By the time Russell Lester landed inside Intuit’s department of analysis in 2009, the unremarkable career path on which he had first set out nearly 10 years earlier had become brimming with possibilities. Back in the early 2000s, Lester tells us, he was hired by the company Harland Clarke (now Vericast) as an analyst specializing in customer information and insights.

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BB & Associates, auditor of Zomato subsidiary Hyperpure resigns

CFO News

In a letter to the board, BB & Associates said that Zomato Hyperpure Pvt Ltd wants to appoint one of the large audit firms as statutory auditors of the Company.

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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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CFOs: Layoffs ultimately harm shareholder returns

Future CFO

CFOs tend to underestimate the impact of layoffs on shareholder returns, said Gartner recently. Given a higher cost of capital, renewed investor focus on profitable growth and widespread forecasts of a global recession, CEOs are asking their CFOs to reduce costs, said Vaughan Archer, senior director, research and advisory in the Gartner Finance practice.

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Global minimum top-up tax: Potential exception to deferred tax accounting

Future CFO

Irina Ipatova, Associate Partner at KPMG explains the IASB’s plans to revise its proposed approach to disclosures on the top-up tax. The post Global minimum top-up tax: Potential exception to deferred tax accounting appeared first on FutureCFO.

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Banks, ARCs spar over key document, indemnity clause

CFO News

Asset reconstruction companies (ARCs) in India are facing pressure from large banks to confirm they have no connections with the defaulting borrower companies if bankruptcy follows any auctioning to a new company. The banks want ARCs that buy sticky loans to sign an indemnity clause and must also confirm they have no direct or indirect connections with the company that owes the loan.

Banking 52
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10 Sunday Reads

Barry Ritholtz

Avert your eyes! My Sunday morning look at incompetency, corruption and policy failures: • The Plot to Steal the Other Secret Inside a Can of Coca-Cola : Shannon You was a good chemist, a bad colleague—and a thief. When she tried to use the $120 million technology she stole, she got played. ( Businessweek ) • The Corruption of Lindsey Graham : So let’s go back to the beginning.

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With Go First gone, rivals are sending up more flights

CFO News

Air India, IndiGo, and Vistara have increased their flight frequencies to fill the gap left by Go First's cancellations. Go First's voluntary insolvency proceedings in May left a vacuum during the peak summer travel season. The Indian government assigned Go First's arrival and departure slots to the remaining airlines as an interim measure to minimize fare increases and prevent airport losses.

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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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India's Defence Ministry approves fourth 'positive indigenisation list' to boost local manufacturing

CFO News

The Indian Defence Ministry has approved a list of 928 components and subsystems that will only be procured from domestic firms once import bans on them kick in over a period of five-and-a-half years, as the country continues to move towards self-reliance in defence. Termed a Positive Indigenisation List, the document comprises line replacement units, sub-systems and components used for various military platforms, equipment and weapons.

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Hero MotoCorp gearing up for highest ever model introductions in FY24: CEO Niranjan Gupta

CFO News

"We'll have product launches every quarter of this fiscal year. Probably this fiscal, we'll see the maximum number of launches ever seen in the company's history," PTI quoted Gupta as saying in an analyst call. The company is bullish on growth prospects this year with plans to further enhance its market share across segments, he noted.

Numbers 52
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Apollo Tyres expects double-digit revenue growth in FY24

CFO News

When asked about the possibility of tyre price reduction with the raw material cost coming down, Sharma said," given the uncertainties in the environment and given that inflation is still not moderated, the scenario of price reductions to my mind looks remote but finally, they're always governed by competitive intensity. Going forward, he said Apollo Tyres would continue to focus on "technology driven" premium positioning of its products across categories.

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Meeting with Walmart CEO fruitful one, had insightful discussions: PM Modi

CFO News

"The meeting with Mr. Doug McMillon, CEO of @Walmart, was a fruitful one. We had insightful discussions on different subjects. Happy to see India emerge as an attractive destination for investment," Modi tweeted.

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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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Creditors’ recovery via IBC surges to 36% of admitted claims in FY23

CFO News

Data from the Insolvency and Bankruptcy Board of India (IBBI) showed that out of the total admitted claims of Rs 1.42 lakh crore, creditors realised rs 51,425 crore in FY23, compared to Rs 49,208 crore realised from admitted claims of Rs 2.14 lakh crore a year ago.

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WPI declines for 11th straight month, falls to -0.92% in April

CFO News

Wholesale price-based inflation declined to -0.92% in April from 1.34% in March, the Department for Promotion of Industry and Internal Trade, Ministry of Commerce & Industry said on Monday. Retail inflation in India eased sharply in April to 4.7 per cent or an 18-month low, as against 5.7 per cent the previous month.

Retail 52
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View: Now is the time for Adani to raise equity — and market cred

CFO News

India’s Adani Group faces a court-monitored investigation by the Securities and Exchange Board of India (SEBI) into alleged corporate-governance violations in the wake of a short-seller report. Despite company sales data and emerging-market investor support validating the company's reputation, Adani remains under regulatory scrutiny. As the SEBI weighs enforcing penalties and fines, Adani Enterprises and Adani Transmission are preparing to launch a fundraising offering that will seek to help the

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Adani-Hindenburg saga: SEBI cautions against premature conclusion of probe

CFO News

India's market regulator SEBI on Monday told the Supreme Court Monday that any incorrect or premature conclusion of its probe into possible lapses of regulatory disclosures by billionaire Gautam Adani's eponymous group will not serve the interest of justice and will be legally untenable. The Supreme Court Friday said it will consider granting three more months to the SEBI to wrap up its probe into allegations of stock price manipulation by the Adani group while rejecting suggestions that it had

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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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FIDC asks RBI to review penal charges circular for NBFCs

CFO News

RBI had last month released a circular on ‘Fair Lending Practice - Penal Charges in Loan Accounts, saying penalty should be treated only as ‘penal charges’ not ‘penal interests’. FIDC has listed out some key points in its letter to the RBI suggesting how this substitution will cause accounting hassles to the NBFCs.

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Poll freebies to hurt long-term growth, say experts

CFO News

Experts have warned that populist promises, such as cash and travel subsidies, promised by political parties in the lead up to elections in India, could harm long-term growth prospects. C Rangarajan, former RBI governor, suggested enforcing strict fiscal-deficit limits to limit freebies. Former chairman of the National Statistical Commission, Pronab Sen, called for action by the Election Commission against such promises.

Finance 52
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Asset reconstruction companies seek easier settlement guidelines for small loans

CFO News

The ARC lobby group has been asking the authorities to relax these norms for small-ticket loans. The process may be followed only in case of high-value corporate loans beyond a threshold.

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INOX Air plans Rs 3,000 crore investment by 2025 to meet rising demand

CFO News

As companies embark on a new capital expenditure cycle and new sectors such as solar and semiconductors emerge, the demand for industrial gases in India will align with that of developed markets, said INOX Air Products CEO.

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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.

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Lessors calling India a risky jurisdiction is to influence court proceedings: GoFirst

CFO News

Engine makers cannot wash their hands off their liabilities after supplying sub-standard engines which has led to huge losses for all airlines, says Varun Berry.

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Recession, millions of jobs lost if US defaults: Treasury

CFO News

President Joe Biden's administration again warned Sunday of "catastrophic" consequences for the US economy including huge job losses if the country defaults, as negotiations to forge a debt deal are expected to resume this coming week.