PYMNTS

JULY 3, 2020

The global pandemic has left no industry unscathed, but the travel business has the unfortunate distinction of being the sector that was slammed first and hardest, Colin Smyth , head of travel at payments platform Flywire , told Karen Webster in a recent conversation. “They took [that] punch in the stomach first, and they’ve had to rebuild, thinking about the ways they can survive until the industry opens back up again,” Smyth said.

Economics 140

Economics Budgeting Manufacturing CFO 140

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.

Startups 53

Startups Accounting 53

Future CFO

JULY 2, 2020

The number of defaults registered in the first five months of 2020 has already exceeded the 2019 full-year number, said Fitch Ratings recently. . At the current rate, the annual volume of corporate defaults could exceed the record set during the global financial crisis in 2009, the credit rating agency noted. In the first five months of 2020, 28 non-financial corporate defaults were recorded in the Fitch-rated portfolio, compared to 25 in all of 2019, the company observed.

Concentration 52

Concentration Transportation Numbers 52

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.

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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. .

Banking 130

Banking Planning Technology Marketing 130

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

CFO 52

CFO Finance Planning Numbers 52

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.

Technology 92

Technology Sales Budgeting Forecasting 92

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.

Auditing 130

Auditing Risk Management Accounting Banking 130

CFA Institute

JUNE 28, 2020

The obligation to act honestly and with competence must be the core of every financial service.

Communication 52

Communication Economics Leadership 52

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.

Planning

Future CFO

JULY 2, 2020

The economic and business impacts of the covid-19 pandemic are changing the finance and accounting (F&A) function. These challenges are coming to the forefront as F&A teams work from home, and struggle with manual accounting, spreadsheets, desktop tools, and paper-based processes that were hard enough to manage in the office. Can the F&A team still be expected to help realise overall company innovation?

Accounting 52

Accounting Auditing Economics Finance 52

PYMNTS

JUNE 29, 2020

The COVID-19 pandemic is one of the most monumental crises the banking industry has faced, and the sector must stare down the dual challenges of creating safety measures at branch locations while addressing the ongoing economic downturn that has stretched their capacity for processing and deferring loans. Bank branches are either closing outright or slashing their business hours to help customers maintain social distancing guidelines — but fortunately, the growing familiarity of digital banking

Banking 126

Banking Leverage Economics Numbers 126

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. .

Securities 124

Securities Leverage Planning Technology 124

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.

Banking 123

Banking Planning 123

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

Finance

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.

Economics 115

Economics Planning Retail 115

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

Banking 114

Banking B2B Invoicing Budgeting 114

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.

Numbers 112

Numbers Planning Retail 112

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.

eCommerce 112

eCommerce Accounting Numbers Technology 112

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Reconciliations

PYMNTS

JULY 2, 2020

Deutsche Bank, the Frankfurt-based multinational financial services company, is in talks with regulators to rescue Wirecard Bank, the deposit-taking division of the German payment company that is facing one of the country’s biggest accounting frauds, the Financial Times reported. Wirecard Bank is separate from Wirecard AG, its parent company that filed for insolvency protection last week.

Banking 111

Banking Auditing Accounting Technology 111

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.

B2B 109

B2B Banking Securities Invoicing 109

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.

Startups 109

Startups Valuation Investments Finance 109

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

Banking 107

Banking Budgeting Technology Planning 107

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Accounting

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

B2B 107

B2B Leverage Banking 107

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. .

Retail 106

Retail eCommerce Communication Planning 106

PYMNTS

JULY 2, 2020

Amazon is moving its annual mid-summer Prime Day shopping bonanza until at least October, according to numerous published reports. No exact date has been given, but Business Insider reported that Amazon told one retailer to expect the event to be held around Oct. 5. . The news outlet quoted what it said was a leaked Amazon email to a supplier as stating: “Every year, Prime Day is a huge hit with customers, who enjoy some of the best deals of the year.

eCommerce 106

eCommerce Sales Retail Planning 106

PYMNTS

JULY 2, 2020

Corporates of all sizes and verticals are taking an introspective look at internal operations to pinpoint areas of opportunity for working capital optimization. Often at the center of this initiative is the accounts payable (AP) department — and unsurprisingly for these volatile times, the strategy can turn toward lengthening the days payable outstanding (DPO).

Economics 104

Economics Accounts Payable B2B Reconciliations 104

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