Thu.Jun 15, 2023

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Citi CFO says tech initiatives will drive 5,000 job cuts this year

CFO Dive

The bank has cut 1,600 jobs in the second quarter and expects a $300 million to $400 million uptick in expenses largely because of the severance costs, CFO Mark Mason said Wednesday.

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Record 401(k) Participation at Vanguard Plans

Barry Ritholtz

Vanguard is out with its annual deep dive into what its 5 million 401k participants are up to. The firm’s release of How America Saves is chock full of data and charts showing how 401k savings have reached all-time highs at Vanguard; I expect other large plan managers like Fidelity and Schwab to be at or near similar levels. VG credits the impact of automatic enrollment/contribution escalation as leading savers to this milestone. “ Record highs in participation, deferral rates, and the use of p

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Trending Sources

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CFOs lower growth expectations, cut costs: Deloitte

CFO Dive

Finance leaders are less willing to take on new risks and less optimistic about their companies’ financial prospects as their CEOs urge them to continue slashing costs.

Finance 301
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209: Jeff Ryan , Managing Director – From game ranger to game changer

CFO Talks

From game ranger to game changer Jeff Ryan is an expert in the interaction between finance, technology and people. The current MD of AWCape shared his thoughts in a CFOClub Podcast on how CFOs should approach AI, what managing an acquisition is like and what he learned from his early career experiences as a game ranger. Written by: Leigh Schaller Clawing for success Jeff Ryan is the managing director of AWCape, a Sage provider in South Africa.

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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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Microsoft beefs up AI-powered business automation tool

CFO Dive

The enhancements include new features aimed at helping managers, including in finance departments, “dramatically reduce the time spent on project status reports, task planning, and risk assessments,” according to Microsoft’s Stephanie Dart.

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More Trending

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Kroger execs still feel inflation’s pinch, glimpse relief

CFO Dive

The grocery giant is still grappling with rising prices as well as the end of pandemic-era food benefits that is constraining budgets of many lower-income customers.

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PTC India Financial Services appoints Mahendra Lodha as CFO

CFO News

Lodha will take over Sanjay Rustagi as CFO. In the new role, He will oversee the financial functions of PFS, including strategic financial planning, resource mobilization, and fund management.

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Five Below poaches McDonalds alum for CFO

CFO Dive

The extreme-budget retailer is reshuffling its C-suite, with Ken Bull’s promotion to COO and Kristy Chipman’s appointment to CFO.

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Kitces & Carl Ep 114: When Clients Are Tempted By The Siren Song Of (A Competitor’s) Investment Results

Nerd's Eye View

For many financial advisors, keeping an open line of communication with clients is a key component of building trust, understanding the client’s values, and developing a meaningful plan to help them reach their financial goals. However, despite efforts to ensure all clients understand the ‘big picture’ of their comprehensive plans, some clients may be tempted by other financial professionals offering attractive investment returns and promising better portfolio performance.

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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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Suppliers gained clout as DPO dipped: Hackett

CFO Dive

The number of days payable outstanding — a key gauge of cash flow health — fell 8% last year or 4.7 days, according to the Hackett Group.

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ON LOCATION: IMA 2023 with IMA CEO Mike DePrisco

CFO Thought Leader

Mike DePrisco is the new CEO of the IMA, taking over from Jeff Thompson who led the organization for nearly 15 years. The IMA recently celebrated its 100th anniversary and aims to support and optimize the accounting profession while helping individuals achieve their career aspirations. Mike DePrisco has a background in higher education and previously worked at the Project Management Institute before joining the IMA.

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Indian rural market's still sluggish, could improve in H2: Colgate executive

CFO News

"Real incomes have come down and the general level of unemployment in rural India is very high. The impact of inflation on them is very high," Mukul Deoras, president, Asia Pacific at Colgate-Palmolive, said at the Evercore ISI annual consumer and retail conference.

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Generative AI training: Have you come up with a plan yet?

Future CFO

Have you come up with a plan to provide generative AI training for employees? According to a study by Boston Consulting Group (BCG), 86% of respondents believe they will need training to sharpen their skills. However, only 14% of frontline employees say they have gone through any upskilling to date, compared with 44% of leaders, the study results indicated.

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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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NCLT directs Go First resolution professional to ensure protection of engine lessors' assets

CFO News

The National Company Law Tribunal has directed the resolution professional of Go First airline to ensure the maintenance of nine engines leased from SMBC Afro Engine Lease BV and Engine Lease Finance BV. The tribunal cleared the appointment of Shailendra Ajmera of EY as the resolution professional, replacing interim RP Abhilash Lal. The engine lessors have requested the return of their assets following the cancellation of their leases before the initiation of the corporate insolvency resolution

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Driver-based planning: the best of basics

Spreadym

Driver-based planning is a strategic planning approach that focuses on identifying and prioritizing key drivers or factors that have a significant impact on the performance and success of a business. It involves analyzing and understanding these drivers to develop effective plans and make informed decisions. The basic idea behind driver-based planning is that not all factors or variables are equally important in influencing business outcomes.

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Rajeev Chandrasekhar takes on Raghuram Rajan, says his PLI comments based on false figures, questionable analysis

CFO News

Raghuram Rajan argued that value addition is low in the smartphone PLI scheme as it is basically only about assembling, and not deep manufacturing. Besides, imports exceed exports, he said. Not even the smallest parts of mobile phones are being made in India, he pointed out.

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Clips From Today’s Halftime Report

The Reformed Broker

Final Trades: CrowdStrike, Transocean, KLA Corp. & more from CNBC. The post Clips From Today’s Halftime Report appeared first on The Reformed Broker.

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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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GST Council to take up betting, online gaming

CFO News

It is also likely to reconstitute the group of ministers (GoM) on rate rationalisation and will take up items where correction of inverted duties is still pending. The council, however, may avoid any major rate rationalisation exercise including slashing of GST rate on cement and insurance, people familiar with the matter said.

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Dennis Marshall, Consulting CFO, Joins vcfo Dallas

VCFO

vcfo Dallas welcomes Dennis Marshall as a Consulting CFO, bringing with him more than 15 years of experience. As an advisor to mayors and business leaders alike, Dennis is a performance-driven financial maestro able to conduct complex negotiations and analyses to develop new business opportunities and improve internal operations. Whether managing diverse teams or developing innovative growth strategies, Dennis is at home developing alliances and executing large initiatives.

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PE funds set sights on alternative assets to prop up realty portfolio

CFO News

Piyush Gupta, Managing Director of Capital Markets & Investment Services at Colliers India, said that businesses are adjusting their plans and investors are refining their strategies to select markets and assets that offer strong returns this year.

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Franklin Chiang of Aeris Shares His 12-Mo Business Priorities, IMA 2023

CFO Thought Leader

At Avalara, we’re building cloud-based tax compliance solutions to handle every transaction in the world. Imagine every transaction you make — every tank of gas, cup of coffee, or pair of sneakers, every movie ticket, meal kit, or streamed song, every sensor-to-sensor ping. Nearly every time you make a purchase, physical or digital, there’s an accompanying unique and nuanced tax compliance calculation.

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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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Top 100 listed companies to confirm, deny market rumours from Oct 1: Sebi notifies disclosure rules

CFO News

These companies will have to "confirm, deny or clarify any reported event or information in the mainstream media which is not general in nature and which indicates that rumours of an impending specific material event" that are circulating amongst the investing public, within 24 hours from the reporting of the information.

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Trump-leaning counties gain half of investment under Biden: Brookings

CFO Dive

A Biden administration program to create a “leading-edge, techno-industrial base” and strengthen the middle class has disproportionately benefited Trump supporters.

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EY's Shailendra Ajmera gets NCLT nod to be Go First's RP

CFO News

Ajmera will replace an interim resolution professional (IRP) who was till now in charge of the affairs of the Wadia group-promoted airline that has filed for voluntary insolvency. Ajmera’s appointment was originally done by the committee of creditors of GoFirst. As per procedure, NCLT has to approve such appointments.

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10 Thursday AM Reads

Barry Ritholtz

My morning train WFH reads: • Larry Summers Was Wrong About Inflation : His call for austerity was premised on the notion that only a sharp increase in unemployment could prevent a ruinous wage-price spiral. In reality, both wage and price growth have been slowing for months, even as unemployment has remained near historic lows. Summers’s failure to anticipate this outcome should lead us to reconsider just how prescient his analysis of the post-COVID economy ever was. ( New York Magazine ) • Bus

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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.