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Technological advances are pushing the boundaries for what’s possible in a variety of industries. Within the retail industry specifically, artificial intelligence (AI) is moving the ball for a lot of merchants looking to not only streamline their business operations but provide a more personalized experience for consumers. Stemming from AI, machine learning is helping technology move at a swifter rate, and as more people bring their shopping needs into the online world, it’s likely that machine
These and other questions were the focus of a recent blog by Planful. Based on our work with over 800 customers on Finance process transformation, we shared Finance best practices and even held a discussion with two of those customers. Here are seven traits common in organizations that have successfully executed Finance function transformation and moved from back-office scorekeeping to becoming strategic business partners, driving and supporting decision-making across the enterprise.
Automation has come to several industries. From manufacturing to customer service, there have been several parts of today’s workforce that have been automated by some form of smart technology. One in four Americans are currently at risk of having their jobs automated, according to a research paper from Ball State University, “ How Vulnerable are American Communities to Automation, Trade, and Urbanization?
A new company is launching in India to support accounts receivable and invoice management for businesses. Announcing its rollout on Tuesday (July 25), PayBee said it is looking to digitize the B2B payments process to help companies enhance cash flow management. The company said it integrates with existing accounting, ERP and distribution management solutions already in place within business clients.
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
The cashless payments movement has a calendar attached to it, at least in China. Cashless Week in China is little more than a week away — running Aug. 1 through Aug. 8 — as Ant Financial Services Group announced earlier this year. The cash-free week will see the firm encouraging China to embrace digital payments, an offshoot of the company’s goal to make China as cashless as possible in five years — using Alipay as a springboard, of course.
Beauty is and always has been one of humanity’s favorite topics. English poet Thomas Overbury famously observed that it is only skin deep, while Irish poet Margaret Wolfe Hungerford noted that it is “in the eye of beholder.” And while no one knows who exactly originated the phrase “beauty is pain,” it is quoted widely and liberally in salons, shoe stores and bridal salons nationwide.
Beauty is and always has been one of humanity’s favorite topics. English poet Thomas Overbury famously observed that it is only skin deep, while Irish poet Margaret Wolfe Hungerford noted that it is “in the eye of beholder.” And while no one knows who exactly originated the phrase “beauty is pain,” it is quoted widely and liberally in salons, shoe stores and bridal salons nationwide.
USA Technologies, the payment technology service provider of integrated cashless and mobile transactions in the self-service retail market, announced news Tuesday (July 25) of the closing of its underwritten public offering of 9,583,332 shares of its common stock at a public offering price of $4.50 per share. In a press release, the company said the foregoing included the full exercise of the underwriters’ option to purchase 1,249,999 additional shares from USA Technologies (USAT).
EML Payments is integrating its virtual payment capabilities into the accounts payable solutions offered by Mize Houser as the two look to help companies replace paper checks in B2B payments with virtual or ACH. Mize Houser provides accounting and AP solutions to franchisee owners; according to an announcement Tuesday (July 25), the company will begin offering those clients virtual payment capabilities to pay suppliers using EML Payments technology.
Bitcoin has seen its fair share of ups and downs over the past year when it comes to both stock price and mainstream adoption. While the cryptocurrency is struggling to gain traction, there’s been talk brewing of a rival bitcoin being developed to compete against it. Reasons for the new bitcoin competitor stem from many believing it’s not where it should be at this point in time.
Talking about retail and not mention Amazon these days is a difficult thing to do. Amazon seems to pop up in almost any conversation touching the topic. As such, it should come as no surprise that there may not be a single day in the past few years without mention of Amazon in some capacity. The eCommerce company has grown significantly in the past few decades, and we’ve started to see the physical impacts of its innovative force on other retailers.
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
Technology has certainly seen a big evolution over the last few decades. In the consumer world, we’ve moved from large desktops and rotary dial phones to razor-thin laptops and smartphones with 10 times the amount of computing power. With each new gadget faster than the one before it, consumers’ expectations for retail interactions have seen a significant shift.
As EBA Clearing continues to test its real-time, cross-border payments solution, the firm has announced another financial services company on-boarded to the service. UniCredit, based in Italy, said it is testing the RT1 pan-European instant payment solution developed by EBA Clearing, reports said Tuesday (July 25). The firms said UniCredit’s testing of the platform makes it one of the first banks to begin preparing for the rollout of the solution later this year.
A good product at a good price: that used to be the recipe for a good brand. But a third ingredient in retail is quickly overshadowing those bastions of success, and that is customer service. Consumers want a seamless shopping experience, and if they don’t have one, they want someone to make it right post-haste. Payments can be one of the areas of greatest friction for eCommerce players, especially if they operate globally and need to handle many different forms of payment.
For many years, as communication, commerce and even crafting (see: Etsy, Pinterest) migrated to digital spaces, the art world stayed behind, lingering in brick-and-mortar museums, galleries and auction halls. People thought no one would ever buy art online, sight-unseen. They were wrong. “The art world has been one of the industries most resistant to change and to moving online,” said Anna Carey, a spokeswoman for the online art marketplace Artsy , a global platform for discovering and collecti
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.
If the payments landscape is marked by entrenched players partnering with smaller firms making their mark in digital payments, add one more deal to the list. Visa announced news today of a global partnership with Marqeta , the open API issuer/processor platform that they’ve been working with over the past two years, that will now expand the universe of use cases for the instant issuance of physical, virtual and tokenized payments.
Security in the digital age is a goal for most retailers and consumers — and nearly everyone else in the business world. When it comes to personal information, especially data linked to payment accounts, the level of privacy and accuracy of security are key in keeping the retail world spinning. Once bank accounts or credit cards are hacked, either online or at big box stores, trust in the payment processing system can dwindle — and that trust can become difficult to build back up.
The B2B FinTech world hears it time and time again: eProcurement is becoming a strategic part of the enterprise. Strategic supplier management , contract negotiations, electronic sourcing and transacting — these are all ways the procurement functions can, in theory, generate savings that promote a more robust bottom line and healthier cash flow for the enterprise.
Small business accounting platform MYOB is helping some clients chase down unpaid invoices through a new partnership with ezyCollect. The companies revealed their collaboration Monday (July 24), announcing plans for MYOB Essentials to offer ezyCollect services to users. “Small business owners are busy and stressed out,” said A.J. Singh, managing director of ezyCollect in a statement. “They can’t afford to lose a day, a week, chasing money that is owed to them.” Sing
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.
Police have discovered a new credit card skimmer that connects to the inside of a gas station pump and is able to send stolen data via SMS. According to Tech Crunch , thieves tear apart cheap phones and send credit card information to their location instantly without having to access the skimmer physically or rely on an open Bluetooth connection. Brian Krebs of Krebson Security received images of the skimmer — found at a gas station in the Northeast — from an unnamed source.
The next great robotic breakthrough is upon us — according to recent Wall Street Journa l reports, it’s a machine that can pick up a toy and place it in a box correctly. Admittedly it’s a bit more exciting than it sounds, since it may sound like science has designed robots to have the net skill level of a five-year-old human child. But, as it turns out, that simple skill and figuring it out has been a major hurdle to automating warehouse work.
The impact of online fraud reaches far beyond the dollar count of sales lost. . When data breaches occur, jobs are on the line from the CIO down to lower-level IT personnel. . And the damage to trust and confidence on the part of consumers can be incalculable. To paraphrase an investing maxim, a company can be built up over decades and destroyed in minutes. .
Innovative ideas are inspired by smart people who see problems and have the conviction, capital and courage to come up with new ways to solve for them. Take faster payments. One such innovator recognized the vast commerce potential that could be unlocked if new technologies were used to move money and messaging between people in near real-time. The grandness of his vision and success, with a proof of concept, prompted him to reach out to the U.S. government to share his ideas.
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.
Many platforms want a slice of the digital pizza-ordering pie. Few, however, are equipped to dish up the kind of experience consumers demand. Pizza seems like a simple takeout meal from the customer’s end, and that’s how it should be — but it’s not as easy as it looks. Pizza is one of the most highly customizable foods, with a practically infinite combination of toppings.
Modern innovations have made technology from smartphones and mobile ordering apps to even virtual reality, well, a reality. Now that this technology is in the hands of consumers around the world, companies are increasingly counting on it to attract new customers and retain existing ones. . In the July Payments as a Service Tracker™ , PYMNTS explores how the latest payment solutions are helping merchants give their customer speedier and simpler solutions — all in an effort to win the business
The mobile revolution has hit the dining industry and is becoming a staple for QSRs, fast casual restaurants and beyond. And recently, some brands that have already introduced and found success through mobile ordering apps are experimenting with expanding mobile ordering real estate. . The latest PYMNTS Mobile Order-Ahead Tracker™ features news on restaurants around the space expanding their use of mobile order-ahead smart technology to entice new customers and offer improved ordering experie
Few brands have become as synonymous with what they sell as Starbucks has. When people think coffee – there is almost a reflexive action to think of Starbucks. Sure they have their occasional dalliances with the stunty marketing beverage – baristas nationwide are still reportedly recovering from the national horror that was the Unicorn Frappucino in April.
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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