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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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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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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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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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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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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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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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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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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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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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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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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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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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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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.