Wed.Apr 17, 2024

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3 Question Types To Go From (Just) Retained To Highly Engaged And Happier Clients

Nerd's Eye View

After advisors do all of the work of bringing on a new client (Marketing! Prospecting! Onboarding! Compliance!), it can sometimes feel natural to let the relationship go into "maintenance mode". And while all may appear well on the surface – the client rarely contacts the advisor with problems but they show up for every annual meeting – they may actually be feeling quite disengaged with the financial planning services being provided.

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Cyber insurance gaps stick firms with millions in uncovered losses

CFO Dive

An analysis of 101 breaches across various sectors revealed insurance gaps resulting in an average of $27.3 million in uncovered losses per incident.

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Trending Sources

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BMO named 2024 VETS Indexes 4 Star Employer

Bank of the West

BMO is proud to announce that we’ve earned the designation of VETS Indexes 4 Star Employer for 2024. The award recognizes BMO’s commitment to recruiting, developing, and supporting Veterans and… Read more The post BMO named 2024 VETS Indexes 4 Star Employer appeared first on About BMO.

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Orthofix replaces fired CLO, grapples with internal control ‘material weakness’

CFO Dive

The new chief legal officer is joining the company as it faces a fresh set of headwinds related to its internal control over financial reports.

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Live Demo: How to Achieve Reconciliation Zen

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

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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Adani-EdgeConneX JV looks to juice up data centre business, plans to invest $5 bn in next 5 years

CFO News

AdaniConneX plans to develop 1 GW of data centre capacity before 2030. It is in talks with several international banks to raise $1.2-1.4 billion in an offshore loan to ramp up growth plans that should be closed in the next couple of weeks.

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Fed there done that: Banks see delay in rate cuts by RBI, too

CFO News

Federal Reserve Chair Jerome Powell Tuesday did not provide any guidance on when interest rates may be cut, saying instead that monetary policy needs to be restrictive for a longer period.

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Finastra integrates AI ESG scoring in working capital solution

Future CFO

Finastra integrated artificial intelligence-powered ESG scoring into its working capital solution, Trade Innovation, according to a press release. Under the update, which is with Coriolis ESG by TradeSun , users can power more sustainable business flows , tapping into automated reports to measure key data against internationally-recognised frameworks Users can now also book and manage trade and supply chain finance with the added benefit of automated insights into ESG scoring, allowing for great

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Binance to restart operations in India as compliant FIU-registered entity

CFO News

Binance returns to India, paying $2 million penalty, seeking compliance with PMLA. Its re-entry may reshape the market dynamics with superior technology and liquidity, amidst soaring bitcoin and ethereum values.

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Werfel sees IRS budget request yielding $341B in extra revenue

CFO Dive

The IRS chief testified to a Senate committee after Republican lawmakers secured a $20-billion cut to the agency’s budget.

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New DOL Final Overtime Rules: Quickstart Guide for Employers

There’s a new overtime salary threshold that will impact employers across the country. If you have an employee making less than $43,888 on July 1 or less than $58,656 on January 1, you’re going to have to start paying overtime. Download Paycor’s guide to learn: Which groups of employees are affected? How should you classify employees? Best ways to mitigate risk.

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Discounts, freebies drive in as automakers seek to push sales

CFO News

Carmakers in India are offering discounts and freebies to attract new buyers and clear record inventory levels. Dealership stock reached an all-time high of 310,000 vehicles at the start of the financial year, leading companies to push sales by expanding into smaller towns and cities. This could be the first price war since the easing of the pandemic.

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Govt plans major capital goods production push

CFO News

India is considering expanding its capital goods promotion scheme to include sectors like pharmaceuticals and textiles. The current scheme primarily supports electrical component and automobile manufacturing, but the government is now considering extending support to other sectors. Plans are also being considered to introduce new-age technologies beyond electric vehicles, batteries, and automobile manufacturing.

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Fuel prices seen stable for now, inflation in check

CFO News

Easing food inflation may also counteract some of the increases due to oil. In March, consumer inflation eased below 5% for the first time in five months. IMD on Monday projected an above-normal monsoon in 2024, which could help contain food inflation. The outlook for the rupee also looks better for now.

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India's economy to grow at 8-8.3% in current fiscal: PHDCCI

CFO News

According to the PHDCCI, India's economy is projected to expand by 8-8.3 percent in the current fiscal year. Furthermore, the country's GDP is expected to achieve an average growth rate of 6.7 percent over the next 23 years, resulting in India becoming a USD 34.7 trillion economy by 2047, accompanied by a per capita income of USD 21,000.

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Thinking About How To Lessen Your Burden During Month-End Close? Skystem Can Help!

Most people dread the nearing of the month-end close and reconciliation process, and who can blame them? It's typically a tedious, long, stressful process; but it doesn't have to be. Implementing automation into your month-end process can significantly reduce this headache by automating up to 40% of your reconciliation and saving nearly 30% of your time spent.

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IIFL Finance plans Rs 1,272-crore rights issue

CFO News

On April 16, shares of the company declined 2.35% to 421.7 apiece. Mumbai markets were shut Wednesday. A rights issue is an incentive for existing shareholders to buy more shares of the company at a discount.

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Dailyhunt parent acquires Magzter, grows revenue from ads to subscriptions

CFO News

Homegrown digital newsstand Magzter, founded in 2011 and offering a cross-platform, self-service experience, has been acquired by Dailyhunt. This deal, with undisclosed financial details, marks Dailyhunt's entry into the premium content market, as Magzter boasts a library of over 8,500 premium magazines and newspapers.

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Former Unacademy COO raises $11 million from Matrix, Lightspeed for new edtech venture

CFO News

Bengaluru-based startup Beyond Odds Technologies will provide employability-led training, certification, and recruitment services in the grey-collar workforce segment. It connects employers on the demand side to its talent supply base among students.

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FPO funds to take care of Vi’s capex needs for 3 years: Akshaya Moondra, CEO

CFO News

The balance sheet doesn’t pose any worries, with bank debt at less than Rs 4,500 crore, Moondra said, adding that the FPO will raise enough money to meet capital expenditure needs for three years, with 4G expansion the priority. This will help narrow and ultimately stem subscriber losses and lead to a financial turnaround.

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Your Guide to Creating a Travel Policy

Navigating travel expenses can be challenging, but our workbook offers a clear path forward. Learn to craft a travel policy that fits your budget and makes travel management simple. This self-guided workbook offers: Practical advice on choosing airlines, setting booking time frames, and managing travel costs effectively. Insights into selecting the right class of service for each employee, ensuring everyone travels comfortably and within policy.

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FY25 to be transformative year, says Vedanta's Anil Agarwal

CFO News

"These include further deleveraging (parent) Vedanta Resources by USD 3 billion in the next 3 years and achieving an annual group EBITDA of USD 7.5 billion within 2 years," he said.

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NARCL invites application for MD & CEO post

CFO News

The National Asset Reconstruction Company (NARCL) is seeking a new managing director and CEO with 25 years of banking experience. The company has appointed P Santhosh as interim chief after the abrupt exit of MD&CEO N Sunder. The new MD and CEO will be given a three-year tenor and will acquire about Rs 2 lakh crore stressed assets in phases.

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Spinning industry expects operating margins to improve by 150-200 basis points this fiscal after hitting decadal low

CFO News

CRISIL Ratings foresees improved operating margins for the cotton yarn spinning industry, driven by factors like revenue growth, stable cotton prices, and enhanced credit profiles. The industry's financial health is expected to strengthen further.

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DS Group’s Catch Spices crosses Rs 1,000 crore in sales

CFO News

The company said Catch has grown 24% year-on-year over the last two years, and has a reach in over seven lakh retail touch points and 1,500 distributors. “We were in metros and mini metros earlier. Now our focus is on second and third tier cities,” Kumar said, adding that the company is looking to push distribution to towns even with a population of a lakh.

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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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Indus expects Vi to clear full dues worth Rs 5,700 cr soon, open to payment in tranches

CFO News

Indus Towers anticipates Vodafone Idea clearing its Rs 5,700 crore dues soon, potentially in one payment or in installments, following VIL's fundraising. Indus Towers' CEO expresses optimism, highlighting their support for VIL's growth plans, including 5G rollout. VIL aims to raise Rs 45,000 crore, partly through equity and debt.

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NIIF eyes $1 billion for second Private Markets Fund

CFO News

NIIF is gearing up to secure approximately $1 billion for its second Private Markets Fund (PMF), according to people familiar with the matter. PMF-II will support private equity and venture capital funds focused on India.

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LinkedIn Top Companies 2024 List: Here are the top companies in India according to LinkedIn

CFO News

LinkedIn has released its annual ranking of the top 25 workplaces in India, showcasing the most sought-after companies for career progression and job opportunities. Tata Consultancy Services (TCS) retains the top spot, followed by Accenture and Cognizant. The financial services sector dominates the list, with nine companies featured. In the midsize category, Lentra and MakeMyTrip lead the rankings.

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From creativity to financial decisions, here are some powerful uses of AI to unlock its full potential

CFO News

In today's business world, harnessing AI's potential is vital for staying competitive. Despite misconceptions, AI isn't just a buzzword—it's driving innovation. Businesses use AI for creative tasks like art and music generation, and for optimizing operations and financial decision-making. As AI evolves, its responsible integration promises a future where technology enhances human potential rather than replacing it.

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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.