PYMNTS
JANUARY 1, 2021
The consumers who shopped for anything from groceries to sporting goods to cars in December of 2019 are completely different from the ones who shop today. Not only have they been stung by an unprecedented pandemic and consequential lockdown, they've been made aware of – and have started using – different ways to conduct their shopping journeys, pay for their goods and even take possession of them.
https://trustedcfosolutions.com/feed/
DECEMBER 27, 2020
What are the common reasons that restaurants don’t use the 4-week cycle? While there are many reasons to use the 4-week system operationally , the reason it’s not used usually comes from a disconnect between operations and the accountants. . Our mission at Trusted CFO Solutions is to help drive the performance of our clients’ businesses (i.e. especially restaurants , but retail and hospitality also).
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CFA Institute
DECEMBER 29, 2020
Now is a good time to revisit the logic of dollar-cost averaging (DCA) in investing.
Future CFO
DECEMBER 27, 2020
IBM Cognos Controller supports the close, consolidation and reporting process with the agility and affordability of a cloud-based solution. It enables finance teams to automate and accelerate the financial close with minimal IT support. It also helps finance teams deliver financial results, create informative financial and management reports, and provide the chief financial officer (CFO) with an enterprise view of key financial ratios and metrics.
Speaker: Joe Wroblewski, Sales Engineer Manager
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
PYMNTS
DECEMBER 28, 2020
Digital currencies could render the SWIFT global payments network unnecessary, RT.com reported, citing the Central Bank of Russia (CBR). Olga Skorobogatova, first deputy governor of the CBR, said 30 countries are working on their own national digital currencies, some of which could launch in five to seven years. According to the Bank for International Settlements (BIS), as of July, some 36 central banks published studies on the concept of a central bank digital currency (CBDC) also known as a di
Corporate Finance Brief brings together the best content for corporate finance professionals from the widest variety of industry thought leaders.
PYMNTS
DECEMBER 27, 2020
The highly competitive streaming-audio industry could be starting the New Year with some consolidation, a new report suggests. Jack Dorsey — the billionaire CEO of Square and Twitter — is said to be interested in buying TIDAL , the audio service owned by billionaire music legend Jay-Z. Unnamed sources told Bloomberg that the outspoken Dorsey has been seen with Jay-Z and his singer-wife Beyonce recently, and is reportedly interested in adding a music feature to payment platform Square’s growin
PYMNTS
DECEMBER 29, 2020
Amazon is reporting a record-breaking holiday shopping season that saw more than 1.5 billion toys, electronics and household goods delivered amid the global COVID-19 pandemic. “Amazonians around the world have truly shown what it means to be customer-centric and support our communities this year,” Jeff Wilke , CEO of worldwide consumer at Amazon, said in a press release on Tuesday (Dec. 29). .
PYMNTS
DECEMBER 30, 2020
A lawsuit filed by the Securities and Exchange Commission (SEC) against digital payments firm Ripple is heading to virtual court on Feb. 22, according to legal documents filed in the U.S. District Court of the Southern District of New York. Legal counsel for those named in the suit — Ripple Labs, CEO Bradley Garlinghouse and Executive Chairman and Co-founder Christian Larsen — were called to appear in an online pretrial conference with Judge Analisa Torres. .
PYMNTS
DECEMBER 28, 2020
As the distribution of the COVID-19 vaccine continues to roll out to medical workers and high-risk populations, the Financial Crimes Enforcement Network (FinCEN) is asking financial institutions to be extra vigilant when it comes to cybersecurity. . “Already, fraudsters have offered, for a fee, to provide potential victims with the vaccine sooner than permitted under the applicable vaccine distribution plan,” FinCEN said in a statement on Monday (Dec. 28).
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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
PYMNTS
DECEMBER 27, 2020
The second trial of digital yuan by the People's Bank of China has concluded, resulting in hundreds of thousands spent on eCommerce retail, food delivery and ride-sharing, The Wall Street Journal (WSJ) reports. The trial began earlier in the month as authorities handed out 20 million digital yuan, or $3.1 million, to local residents of Suzhou from a lottery.
PYMNTS
DECEMBER 29, 2020
The benefits of instant payment services are gaining attention from companies that want to be able to transact with better visibility and cash flow information. Enabling rapid-fire transactions to become the norm requires a critical mass of banks and credit unions (CUs) adopting these rails, however. Corporate buyers that bank with financial institutions (FIs) that do offer real-time payments will otherwise be left guessing as to which vendors have FIs that permit them to accept the funds.
PYMNTS
DECEMBER 29, 2020
Traditional financial institutions (FIs) continue to anticipate future demands and make progress in their modernization efforts, but they're not doing it alone. In this week's roundup of bank-FinTech collaboration and open banking initiatives, Citi embraces the unlocking of account data to third-party FinTechs, while WEX weighs in on opportunity for banks to take advantage of partnerships.
PYMNTS
DECEMBER 31, 2020
Here’s another icy factoid from the year of COVID: up to 20,000 bank branches are expected to close before the pandemic is declared done. It’s triggered a remaking of the entire sector. Delving into fallout from an extraordinary global health crisis, PYMNTS December 2020 Digital-First Banking Tracker® done in collaboration with NCR Corporation , notes, “Bank customers are taking to mobile and on-line banking in record numbers to maintain their financial lifestyles, with 53 percent of bank custom
Advertiser: Paycor
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PYMNTS
DECEMBER 29, 2020
Consumers have more heavily leaned on debit during the pandemic, with the economic downturn making shoppers more cautious than ever about the prospect of taking on credit card debt. A recent study even estimates that shoppers could ultimately shift $100 billion worth of annual spending from credit cards to debit cards. Debit solutions draw on funds consumers already have in their bank accounts, and while this makes them reassuring to debt-wary consumers, it can have implications if these details
PYMNTS
DECEMBER 30, 2020
With trade shows canceled and enterprise digitization accelerated, 2020 was a big year for the adoption of B2B eCommerce. Whether through the use of online marketplaces or proprietary supplier portals, B2B sellers embraced the opportunity to connect with business customers online, while buyers reciprocated by sourcing, procuring and paying for goods the way they do in their personal lives.
PYMNTS
DECEMBER 30, 2020
The B2B payments ecosystem experienced a sudden and dramatic acceleration of change upon the onset of the global pandemic, and its impacts reach far beyond the mere digitization of the B2B transaction. Yes, many organizations shifted the needle away from the paper check toward ePayment tools like commercial cards and ACH as a result of necessity. Accounts payable (AP) departments were no longer in the office to cut paper checks, and accounts receivable (AR) personnel were no longer in the office
PYMNTS
DECEMBER 28, 2020
Nacha is issuing a warning to accounts payable professionals with regards to the rising threat of fraud. In a recent announcement, Nacha said that a survey it conducted in collaboration with Blueflame Consulting and Research revealed the accounts payable department's growing exposure to fraud risks, the result of challenges in maintaining and verifying data, vendor on-boarding, and other manual tasks.
Speaker: Victor C. Barnes, CPA, MBA
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.
PYMNTS
DECEMBER 31, 2020
In a year filled with unexpected challenges and a COVID-era economic climate that proved fatal for many companies, PYMNTS was lucky to hear directly from the front lines how scores of company leaders and industry experts were coping with the crisis and turning conflict into opportunity. Take a look (and have a listen) at our 10 favorite podcasts from 2020.
PYMNTS
DECEMBER 29, 2020
To serve eCommerce companies’ needs, as transactions continue to shift online, banking needs to go digital, too. In an interview with PYMNTS, Lilia Metodieva, managing director at Monneo , said virtual international bank account numbers (IBANs) can help firms gain scale internationally, and customize payments to serve the needs of their end customers.
PYMNTS
DECEMBER 29, 2020
Although it occurred under dire circumstances, 2020 was the year that many organizations finally ditched the paper check in B2B payments — or, at the very least, helped to move the needle toward electronic payments. With 2021 on the horizon, those same organizations now have an opportunity to build on that momentum to not only migrate away from checks out of necessity, but embrace the benefits of electronic rails and workflows that can optimize B2B transactions for both buyers and suppliers.
PYMNTS
DECEMBER 29, 2020
Apple has lost its copyright claim against a Florida company, Corellium , that makes "virtual iPhones" used by security researchers to test for vulnerabilities in its systems, Bloomberg reported. Apple said the other company copied its operating system and graphical user interface, along with other aspects of the iPhone, Bloomberg reported. According to Apple, Corellium had acted as if it would help discovering iPhone bugs in the operating system, but instead sold the information to the highest
Speaker: Kim Beynon, CPA, CGMA, PMP
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.
PYMNTS
DECEMBER 30, 2020
Changing styles in fashion are nothing new. But the style changes on display in 2020 are quite a bit different than previous years. Consumers are staying at home and as a result paying a lot less attention to their personal style. Mastercard’s holiday spend data effectively sums up the story. Consumers did their fair share of shopping this season — home furnishings, home decoration, and home improvement products all had a banner season as consumers set about more perfectly feathering their nes
PYMNTS
DECEMBER 28, 2020
With an eye on the future of travel, J.P. Morgan Chase has agreed to acquire the rewards division of cxLoyalty Group Holdings , the companies announced in two press releases Monday (Dec. 28). The price of the transaction was not disclosed, but the deal is expected to be complete this week, CNBC reported. Todd Siegel , CEO of cxLoyalty Group Holdings, said in a statement that the transaction is “compelling” and will benefit all of the company’s stakeholders.
PYMNTS
DECEMBER 27, 2020
Sales of PCs, defined as computers with keyboards, stormed back in 2020, Reuters reported. Credit the sudden need for remote-work and -study options as COVID-19 took hold. Manufacturers remain months away from filling existing orders, the news service reported. “The whole supply chain has been strained like never before,” Gregg Prendergast , Pan-America president at Acer Inc., told Reuters.
PYMNTS
DECEMBER 30, 2020
If there’s a word that captures the state of financial services in 2020, it’s “acceleration.” Between the explosion of the digital economy driven by the pressures of the pandemic and the radical realignment of consumer preferences that has happened as a result, the year 2020 has seen digital payments accelerate at something approaching warp speed. At Mastercard , Executive Vice President of North America Products and Innovation Jess Turner told Karen Webster in a recent discussion, the rapid acc
Speaker: Mark Gilham, FCCA, CPP
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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