PYMNTS
JULY 1, 2020
A group of big European banks is planning to challenge Visa ’s and Mastercard ’s positions as the world’s two largest payment processing networks, Electronic Payments International reported. . Dubbed the Pan European Payment System Initiative, or PEPSI, the group has the support of 20 French and German banks, and would handle all forms of cashless transactions. .
Jedox Finance
JULY 1, 2020
The sophisticated technology behind modern EPM solutions is still a mystery to many. In this blog post, we’ll look at the definition of OLAP as well as an overview of the technology. We explain what lies behind OLAP, what cubes have to do with it and what makes the technology so powerful for modern planning, budgeting, and forecasting. Background and Overview.
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CFA Institute
JULY 1, 2020
When it comes to the choice between active and passive, investors have at least three questions to consider.
Business Credit Blogger
JUNE 28, 2020
Easy Approval Net 30 Vendor In today’s post we are going to share with you an easy approval net 30 vendor that reports to Dun and Bradstreet, Equifax Business and Creditsafe. Whether you’re a startup or existing business, this is an easy way to get started building up your company’s credit file. First things first. […]. The post Easy Approval Net 30 Vendor: Reports to Business Credit Agencies appeared first on Business Credit.
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
JUNE 29, 2020
In the ongoing scandal of Wirecard , under fire for fraud, the focus is now turning to auditors Ernst & Young (EY), which reportedly failed to report Wirecard’s “unorthodox financial arrangements” as far back as 2016, The Wall Street Journal (WSJ) reported. According to emails seen by WSJ, the auditing firm knew of and had questions about the arrangements and was signing off on Wirecard’s financial results for years anyway.
Corporate Finance Brief brings together the best content for corporate finance professionals from the widest variety of industry thought leaders.
CSC Advisors
JULY 1, 2020
We like to think we're safe, but disaster can strike at any time. Right now we're facing a monumental disaster that's impacting the entire world. When there is so much uncertainty you need something that will make you feel financially safe.
The CFO Centre
JUNE 30, 2020
Using sound management reporting and project by project accounting would make it easier for construction companies to get funding from banks and other financial institutions to grow and scale their businesses, says Simon Parkins, a construction industry accounting specialist. Many construction businesses don’t invest in good management information, says Simon, who has over 20 years […] The post How to Get External Funding for your Construction Business appeared first on The CFO Centre US.
PYMNTS
JUNE 27, 2020
When COVID-19 exploded into a global pandemic that more or less shut down everything worldwide, restaurants began diving for digital cover and rapidly embracing order-ahead, curbside pickup, delivery options, modified menus and rewritten business plans – anything and everything they could think of to survive the shutdown and stay alive long enough for patrons to return for on-site dining. .
Future CFO
JULY 2, 2020
On any given day, capital is king. During the financial crisis of 2009, “How does your perspective differ as a businessman versus an economist on the way any organization or firm should try to be proactive in an environment with as many uncertainties as we have today?”. During a Bloomberg-Vanity Fair panel, Legendary GE CEO, Jack Welch , was asked for his perspective on the way any organization or firm should try to be proactive in an environment with many uncertainties (this was during the fina
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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
CFA Institute
JUNE 29, 2020
Is it statistically significant? Yes. Does it matter? Probably not.
PYMNTS
JUNE 30, 2020
Digital dollar advocates told a U.S. Senate committee on Tuesday (June 30) that electronic currencies could help consumers. However, committee Chairman Mike Crapo (R-Idaho) said the sector needs “rules of the road,” while ranking Democratic member Sen. Sherrod Brown (D-Ohio) asked, “Why on earth would we trust big tech with our banking system?”. “Big Tech companies have made a lot of big promises about the better society they were going to allow us to build, [but] they have not lived up to them,
PYMNTS
JUNE 29, 2020
After spending years fine-tuning travel reward cards, banks have found that the coronavirus pandemic decimated all the effort by reducing the need or will to travel, The Wall Street Journal reports. The cards contained perks like sign up bonuses, points on airfare, hotel stays and more — but now, with the pandemic necessitating staying at home and out of crowded tourist spaces, customers are wondering if the payments are worth it at all.
PYMNTS
JULY 1, 2020
Just as the application deadline was set to expire on the Paycheck Protection Program (PPP) at midnight Tuesday (June 30), the U.S. Senate extended the popular measure for five more weeks, The New York Times reported. If lawmakers had failed to act, more than $130 billion would have gone unspent from the Small Business Association’s forgivable loan program to assist companies endure the COVID-19 pandemic.
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PYMNTS
JULY 3, 2020
Robert Morris , founder and CEO of agricultural-imaging company TerrAvion Inc. , is bringing modern technology to what’s perhaps the world’s oldest business — farming. All with the simple goal of helping farmers more precisely grow the food that consumers want to eat — and grocery stores want to buy. “ Agriculture is the original high-tech industry,” Morris told PYMNTS.
PYMNTS
JULY 1, 2020
Stay-at-home mandates have consumers spending more on subscriptions, ranging from streaming services to buying retail products for day-to-day use. It is perhaps not surprising that merchants that are offering subscription services are flourishing. Yet, these services are still not immune to experiencing churn. Both consumers and businesses are tightening their belts in the face of the economic downturn caused by the pandemic, and many are actively considering plans to cancel their subscriptions.
PYMNTS
JULY 1, 2020
B2B payments account for $25 trillion in the United States each year, but these transactions are often fraught with frustrations and challenges. Studies have found that B2B invoices take an average of 37.4 days to settle , a pace that is largely due to the business world’s lingering reliance on analog payment methods like paper checks. Digitizing these payments has been a top priority for banks, payments processors and businesses for several years, but this digitization has its own fair share of
PYMNTS
JUNE 28, 2020
San Francisco’s planned next phase reopening scheduled for Monday (June 29) for outdoor bars, hair salons, museums and more has been put on hold. Mayor London Breed tweeted Friday (June 26) that the city will wait as the number of COVID-19 cases rise across California, CNBC reported. “Yesterday we saw 103 cases,” Breed wrote. “On June 15, when we first reopened outdoor dining and in-store retail, we had 20.
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
JULY 2, 2020
Consumers’ commerce patterns have been very much upended in the past few months and shifted heavily to digital. On the upside, this digital gold rush has created an opportunity for merchants to push about a decade’s worth of digital innovations out the door in weeks. But the bad news is that fraudsters see a once-in-a-lifetime opportunity to jump into the increased flow of transactions, Gary Sevounts , executive at fraud detection firm Kount , told PYMNTS in a recent conversation.
PYMNTS
JULY 3, 2020
Open banking is shaking up the financial industry and is poised to revolutionize the way banks share data with each other as well as with third-party app developers, FinTechs and payment providers. Open banking — a system in which banks allow third parties to freely access their data to develop new apps and services and provide bank customers with greater transparency — is accomplished with APIs that allow third parties to interface with bank systems and access data with minimal friction.
PYMNTS
JULY 3, 2020
Jeff Bezos, Elon Musk, Mark Benioff and Mark Zuckerberg all have something in common other than being billionaires. They all invest in a company called Vicarious , which is taking robotics to a higher, yet more democratic, level. It’s making robotics a service industry, just like software, with a touch of artificial intelligence (AI). “Right now, most robotic manufacturing is like getting a computer in 1965 where you needed a custom engineering firm to develop the whole thing,” said Vicarious CE
PYMNTS
JULY 2, 2020
More than $25 trillion flows between U.S. businesses in the form of B2B payments each year, yet the payments industry faces a host of complications despite this impressive sum. The banks and payments providers that process these transactions often have difficulty interfacing with incompatible systems, slowing down the payments process and leaving the businesses involved to figure out how to make ends meet.
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
JUNE 29, 2020
A Chinese startup is landing hundreds of millions in additional financing as a group of investors – which includes Tencent – eyes the country’s fast-growing grocery delivery sector. Tencent and private equity heavyweight Primavera are spearheading the $300 million investment in Xingsheng Youxuan, Bloomberg reported , citing sources familiar with the deal, which values the company at a healthy $3 billion.
PYMNTS
JULY 1, 2020
Is it surprising to know that 55 percent of legacy financial institutions (FIs) report lacking maturity in core systems? Or that, on average, 15 percent of an FI’s annual operating costs go toward maintaining core banking systems that are outmoded? It’s true, but not for long. “Migrating to cloud- and AI-based solutions could help FIs handle growing calls for faster banking tools during the COVID-19 pandemic, and recent trends show they are beginning to do so,” according to PYMNTS’ June 2020 Dig
PYMNTS
JUNE 30, 2020
The pandemic may be here for a while. But bit by bit, economies are reopening and taking tentative steps toward normalcy. The “new normal,” however, for firms across any industry — but especially across the payments and commerce spheres — must include a “digital-first” mindset. We queried 35 payments executives about their individual efforts to fast-track the leap to digital and recount what has happened in the past 12 weeks — and what will need to happen moving forward to keep that digital shif
PYMNTS
JULY 3, 2020
Retail CEOs faced a parade of problems in 2020’s first six months, but some executives look ready to set off plenty of fireworks in the year’s back half. . Who will come up with revolutionary solutions to the COVID-19 slowdown and other challenges? Here’s a July 4 th look at some top executives in retail who seem ready to declare their independence from business as usual in 2020’s final six months. .
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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