Wed.May 31, 2023

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903: Making the Data Matter | Ryan Lockwood, CFO, CarParts.com

CFO Thought Leader

While April 2020 may forever bring to mind corporate corridors newly silenced by COVID 19’s arrival in the United States, CarParts.com CFO Ryan Lockwood will likely always remember it as the month when opportunity knocked. Having spent the previous 10 years in investment management, Lockwood, a portfolio manager for a Southern California investment house, was looking to move to more of an operational role when he got a call from David Meniane and Lev Peker of the management team at U.S.

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Use case key in getting started with AI: Gartner analyst

CFO Dive

While generative AI holds immense promise, some use cases in the short term may be too risky without careful “stress testing,” says Gartner analyst Arun Chandrasekaran.

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PodChats for FutureCFO: The continuing transformation of finance reporting

Future CFO

S&P forecasts that Asia-Pacific will achieve real growth of 3.5% in 2023 while Europe and the U.S. will likely face recession. But Asia, being a supplier to the world, will likely not be totally out of the woods. Technology has made financial reporting easy for everyone involved in the process, from the finance and accounts team preparing reports to the regulators, investors, and others who use those reports.

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Prudential PLC CFO resigns amid recruiting conduct probe

CFO Dive

The Hong Kong, China-based insurer said its CFO “fell short” of the high standards that Prudential PLC sets and expects all of its colleagues to adhere to.

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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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Survey: Executives Optimistic Despite Financial Disruption, Prioritizing Technology Adoption to Combat Talent Shortage

CFO Leadership

Survey: Executives Optimistic Despite Financial Disruption, Prioritizing Technology Adoption to Combat Talent Shortage As we near the halfway mark of 2023, the overwhelming theme throughout the year has been uncertainty. Economists continue to speculate on the possibility and severity of a recession. Lingering questions remain regarding the full impact of a string of bank collapses.

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At 58.7, India's May manufacturing PMI rises to 31-month high

CFO News

S&P Global India survey showed that new orders expanded at the quickest pace since January 2021, while foreign demand grew at its fastest rate in six months.

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AI can double productivity in three years: Gartner

CFO Dive

CFOs are more likely to succeed in adopting artificial intelligence if they take steps to overcome cultural obstacles to the new technology, according to a Gartner expert.

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India’s GDP in Q4 rises to 6.1%, FY23 growth pegged at 7.2%

CFO News

The numbers indicate that the GDP growth in the fourth quarter of FY23 is better than what the RBI had expected at 5.1 per cent.

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Struggling biotech reups support for CEO-CFO

CFO Dive

Exicure’s newly-minted CEO-CFO is attempting to find new potential partners and explore other avenues of growth to right the course of the struggling biotech.

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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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Pass-Through Entity Taxes: Mechanics, Considerations, And Planning Opportunities For Navigating SALT Cap Workarounds

Nerd's Eye View

The 2017 Tax Cuts & Jobs Act introduced a $10,000 limit on the State And Local Tax (SALT) deduction that was previously available for taxpayers who itemized their deductions. In response to the new deduction limit, many states enacted laws creating a new Pass-Through Entity Tax (PTET) designed to help owners of pass-through businesses (partnerships, LLCs, and S corporations) avoid the limitation and preserve the deductibility of their state tax payments.

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Four Key Insights from SAP Sapphire 2023

Bramasol

The Bramasol team at SAP Sapphire all agreed that it was one of the best events we've attended in quite a while, with lots of opportunities for deep engagement with SAP experts. We also met with many forward-looking companies seeking to accelerate their digital transformation roadmaps, launch new Digital Solutions Economy™ offerings, and/or optimize their compliance programs.

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Identifying Emerging Managers

Barry Ritholtz

I am moderating a fascinating panel today at Bloomberg’s Hedge Fund Start-Up Conference 2023. It is a great collection of newer hedge fund managers who have put up impressive numbers consistently over the past few years. The challenge for investors in alternatives is twofold: The first is identifying those managers who can consistently generate alpha in excess of fees; and the second, is to find them early enough so they are still willing to accept your capital.

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Aurum PropTech set to buy Ratan Tata-backed NestAway

CFO News

Apart from the founders, the company's shareholders include global institutional investors and prominent business personalities such as the former Tata Sons chairman. Founded in 2015, the online home rental marketplace counts Flipkart, Chiratae Ventures and a university fund also among its key investors. Over the years, NestAway has successfully raised $110 million to support its growth and expansion plans from its prominent investors.

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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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R&D reporting: Information gaps potentially confuse users

Future CFO

When it comes to R&D reporting, ACCA said there’s substantial room for improvement. According to a new research by ACCA and the Adam Smith Business School of the University of Glasgow, 53% of organisations are not separately reporting any R&D assets or expenses. The research, Reporting of R&D: Disclosure without recognition?, found a disconnect between disclosures in the narrative sections of annual reports and the financial statements, potentially confusing users, ACCA pointed out.

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Patanjali Foods promoters to dilute 6% share to meet minimum shareholding norms, launches road show

CFO News

Patanjali Foods, formerly known as Ruchi Soya Industries, plans to dilute a 6% stake through an institutional share sale, to satisfy minimum public shareholding norms of 25%. Current public shareholding in Patanjali Foods stands at 19.18%. Baba Ramdev led the Ruchi Soya acquisition in 2019 through the corporate insolvency resolution process. The firm will target global investors for the QIP and Offer for Sale (OFS), with a view to raise funds, depending on market conditions and interest of inves

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Welcome Mike Torakis

Focus CFO

We are delighted to announce that Mike Torakis has joined the FocusCFO team in Detroit Metro. Mike has over 40 years of experience in global finance and manufacturing operations, including working directly with entrepreneurs, high net worth family businesses, and private equity firms. His experience also encompasses public and private debt placement, mergers and acquisitions, and operations turnaround.

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Valuation comfort makes PSUs attractive

CFO News

ONGC, Indian Oil, Power Finance Corporation (PFC), REC, SAIL, General Insurance, Oil India, and New India Assurance are among the PSUs trading below their book value. ONGC, which rallied 10% in the last six months, is trading at a book value of 0.71 times. According to the Bloomberg Consensus estimates, the stock is expected to yield 18% in a year.

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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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Survey: Executives Optimistic Despite Financial Disruption, Prioritizing Technology Adoption to Combat Talent Shortage

CFO Leadership

Survey: Executives Optimistic Despite Financial Disruption, Prioritizing Technology Adoption to Combat Talent Shortage As we near the halfway mark of 2023, the overwhelming theme throughout the year has been uncertainty. Economists continue to speculate on the possibility and severity of a recession. Lingering questions remain regarding the full impact of a string of bank collapses.

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Gautam Adani to raise $3.5 billion from share sale in three group companies

CFO News

While boards of Adani Enterprises Ltd - the group's flagship firm - and electricity transmission company Adani Transmission Ltd have already approved raising up to Rs 21,000 crore (over USD 2.5 billion) through share sales to qualified institutional investors, the board of Adani Green Energy Ltd is likely to do so for raising up to USD 1 billion in the next couple of weeks, sources aware of the matter said.

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Milestones in strategic planning for business

Spreadym

Strategic planning for business is the process of defining an organization's long-term objectives and determining the most effective ways to achieve them. It involves assessing the current situation, analyzing internal and external factors, setting goals, and creating a roadmap to guide the organization towards its desired future state. Key components of strategic planning for business Vision and Mission: Clarifying the organization's purpose, values, and long-term aspirations.

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India Inc’s revenue grows in double digits but loses more steam in Q4

CFO News

Revenue for a sample of 2,863 companies grew by 13.4% year-on-year in the March quarter. After clocking 33.9% growth in the June 2022 quarter, top line growth has slowed down gradually in each of the quarters since then. Net profit rose by 6.5% in the March quarter. While it has improved since the September quarter when profit had fallen by 11.5%, it continued to remain muted.

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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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Want to outsource your accounts payable? What to look for

CFO Share

Accounts payable is an annoyance at best, a disaster at worst. More and more businesses use accounts payable outsourcing as a solution to this problem. AP service providers employ best practices at scale to save cash and avoid errors. What to look for in an accounts payable company. When shopping for AP service providers, look for these 4 qualities: Knowledgeable of fraud and controls Uses AP automation Keeps you involved in the process Cost-effective Knowledgeable of fraud and controls The most

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India can look for another year of solid economic performance: CEA

CFO News

Enthused by higher than expected GDP number in the fourth quarter of FY23, Chief Economic Adviser V Anantha Nageswaran on Wednesday said India can look for another year of solid economic performance. India's economy grew by 6.1 per cent in the January-March quarter of 2022-23, pushing the annual growth rate to 7.2 per cent on account of better performance by agriculture, manufacturing, mining and construction sectors.

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Fuel growth with a collaborative workforce planning process

Jedox Finance

Strategic workforce planning requires collaboration between finance and human resources (HR), as well as alignment with the organization’s overarching business objectives. To accomplish this, teams need an efficient process and tools that enable them to assess current skill sets, predict future requirements, and implement strategies to acquire, develop, and retain high-performing talent.

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RBI's 250 bps rate hike helped ease inflation by 90 bps

CFO News

Inflation is estimated to have eased by more than 50 bps on account of the 250 basis points hike in repo rates as compared to a rise in inflation of about 90 bps if the repo rate was left unchanged at 4 per cent. Under the current tight monetary policy scenario-increase in repo rate by 250 bps until February 2023- inflation is estimated to have eased by more than 50 bps as compared to a rise in inflation of about 90 bps under policy repo rate left unchanged at 4 per cent.

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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.