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When it comes the top risks for 2024, economic conditions and inflationary pressure emerge as the top near-term concerns for the year, said Protiviti recently when releasing results of a survey conducted together with the NC State University Poole College of Management's Enterprise Risk Management (ERM) Initiative. The survey collected responses from more than 1,100 board members and C-suite executives from organisations worldwide in a variety of industries, the firm noted.
There's an interesting quote I hear quite regularly regarding how to act in times of strife or turmoil. The only way out is through." – Robert Frost If you think about it, it's a simple allegory for a moment when you may face a challenge, whether work, personal, or otherwise. Given that this is a business-related article, I'll limit my thoughts to the work environment, specifically examples facing business financial executives.
Forecasting errors are an inevitable part of the budgeting process. Understanding and addressing these errors is crucial for effective budget management. Quickly identifying forecast errors in your budget is not a sign of failure, but an opportunity for improvement. There’s no such thing as a flawless budget. The goal is not perfection, but a continuous improvement that aligns your financial planning with the always-changing realities of your business environment.
Automating time-consuming manual tasks can save your firm hundreds of hours–and thousands of dollars. But it can also have longer-lasting benefits, like helping you attract and retain the next generation of CPAs, and we don’t need to tell you how important that is amid the current generational staffing crisis in the tax and accounting profession. You'll want to save your seat for this new webinar with industry expert Joe Wroblewski, where we'll explore how to: Maximize ROI with Cost-Effective Te
When it comes to cybersecurity budget, retail CFOs in Asia Pacific might have to reconsider the amount of resources allocated to this area. According to a recent study by Kaspersky , the retail industry experienced the greatest number of successful cyberattacks in the past 24 months in Asia Pacific. The latest survey—with responses from 234 participants—also revealed 19% of companies in the region have experienced cyber incidents due to insufficient cybersecurity budget in the last two years, th
As we come to the end of another year, this is a good opportunity to look ahead at the key trends to watch during 2024. Since our last trends update on June 30, 2023 , the areas of Cloud-based Digital Transformation, the Generative AI Revolution, and the Digital Solutions Economy (DSE), continue to expand and morph into even more important trends to watch.
As we come to the end of another year, this is a good opportunity to look ahead at the key trends to watch during 2024. Since our last trends update on June 30, 2023 , the areas of Cloud-based Digital Transformation, the Generative AI Revolution, and the Digital Solutions Economy (DSE), continue to expand and morph into even more important trends to watch.
Welcome back to the 363rd episode of the Financial Advisor Success Podcast! My guest on today's podcast is Christa Madison. Christa is the Managing Director of Financial Planning and Business Development at Sebold Capital, a fee-only RIA based in Chicago, Illinois, which manages $300M across more than 100 client households. What's unique about Christa, though, is how she used her business development and networking skills to overcome the challenges that sprung up when, through a combination of p
ITR Economics is forecasting a mild recession for 2024. While many businesses may have started to feel the pressure from the economy slowing down , that does not necessarily mean they are currently in a recession phase. With the wrong information, executives could make wrong business decisions today that could hurt their company more once they officially enter a recession.
Bank of Baroda's Chief Economist, Madan Sabnavis, advises CFOs on strategic capital expenditures amid optimal capacity levels and foresees no rate cut until August 2024, citing inflation projections and economic nuances.
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
For most life sciences startups , the product is the business. This makes sense because many life sciences businesses come out of fundamental innovation in the lab, and thoughts of how best to bring the product to market only come later.
No, “ nearly half ” of $94.5 billion in retail inventory losses in 2021 was not “attributable to organized retail crime.” That line is just another in a long series of falsehoods put forth by the professional b *s at the National Retail Federation. Here’s Reuters : “The main lobbying group for U.S. retailers retracted its claim that “organized retail crime” accounted for nearly half of all inventory losses in 2021 after finding that incorrect data was used for its analysis.
In its fifth bi-monthly monetary policy, the Reserve Bank of India (RBI) decided to keep the repo rates unchanged at 6.5 percent. ETCFO spoke with finance leaders to understand the impact of the pause and stable policy on India Inc's planning and demand.
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.
SAP’s enterprise resource planning solutions (ERP) are made up of modules that deliver specific functionality and combine to provide an end-to-end backend solution for businesses of all types. One of the core modules that significantly benefits manufacturers is the Production Planning module.
Tyler Cowen and his colleague Alex Tabarrok write some interesting posts over at Marginal Revolution. Sometimes I agree with them, sometimes I disagree with them. Recently, a post utterly perplexed me: “One doesn’t get a favorable impression of crypto from Number Go Up but in fact one doesn’t learn much about crypto at all. Indeed, Faux’s book isn’t really about crypto it’s about the rise and collapse of a bubble and the consequent madness of crowds.
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.
Manufacturing resource planning is all about resource planning and management. An MRP system identifies needed materials, estimates quantities required, calculates when materials will be required to meet production schedules, and manages delivery timing. MRP is essential software for most businesses that run efficiently, and this is why it is widely used by manufacturers, restaurants, consumer products firms and even professional service organizations.
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week’s edition kicks off with the news that this week's round of public hearings on the Department of Labor's proposed new fiduciary rule featured fierce opposition from the brokerage and insurance industries – which, while unsurprising given those industries' stance against the DoL's previous fiduciary rule (which ultimately caused it to be struck down in court in 2018), nonetheless highlights the debat
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.
Lean inventory makes erp for the manufacturing industry more efficient. And that reduces costs. The core idea of lean inventory management is a simple one that is broadly and well known by businesses today: continually focus on eliminating waste and inefficiency for better operations and profits. The concept of lean processes was first popularized by Taichii Onho and Shigeo Shingo at Toyota, who developed the Toyota Production System that itself drew inspiration from interchangeable parts pionee
Although numerous tax-advantaged vehicles are available for retirement savings, Health Savings Accounts (HSAs) have particular benefits for individuals saving for retirement. Specifically, HSAs offer a "Triple Tax Benefit" that includes tax-deductible contributions, tax-deferred growth, and tax-free withdrawals for qualified medical expenses. This can allow individuals to save a significant amount that can be withdrawn tax-free for medical expenses later in retirement.
Veradigm appointed an interim CEO and CFO as it struggles to course correct in the midst of an ongoing audit and a shareholder complaint alleging it artificially inflated revenues for a two-year period.
India's retail inflation rose to 5.5 per cent in November, driven by increased food prices, marking the 50th consecutive month above the 4 per cent target.
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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