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In a case that highlights how anybody — truly, anybody — can be a victim of invoice fraud, federal officials have reportedly charged two brothers in New York State for an alleged $19 million scam targeting Amazon. The eCommerce conglomerate issued a press release late last week announcing its cooperation in the investigation and prosecution of the individuals charged by the United States Attorney's Office for the Southern District of New York.
The 2020.3 version of Jedox software enables anyone building applications in Jedox to design an interactive experience for end-users with ease. And the all-new, hyper-flexible Jedox Lists take ad hoc reporting and analysis to another level.
The Secret to Our Success. Usually, spilling business secrets is typically a major “no no." In our case, our best kept secret is hidden in plain sight! Industrial organizational theorists have used the bones of the Adam Kae way for decades. We just gave some of these steps cooler names. Why are we telling you this? Our goal is to help you: Find solutions to complex financial problems.
Nonprofit organizations are struggling, and it is as simple as that. The financial and staffing challenges often seem insurmountable. According to a recent article by Nonprofit Quarterly, … many organizations, […]. The post Nonprofit organizations face challenges. We offer solutions. appeared first on Capital CFO.
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
Tens of thousands of stolen Fortnite accounts are being sold on the black market in a $1 billion a year trade, according to Bloomberg. The news outlet cited a report from Night Lion Security , which looks into companies' vulnerable points. It found that criminals are using automated tools to mass-check for Fortnite accounts from hordes of stolen identities from recent data breaches.
The six-capital framework would help the finance function to become a business partner that makes a contribution to the evaluation of an organisation’s performance against its purpose, said PwC recently when releasing findings of joint survey done with ACCA in a report. According to the report, the six capitals are: financial capital, manufactured capital, intellectual capital, human capital, social and responsible capital, and natural capital.
The six-capital framework would help the finance function to become a business partner that makes a contribution to the evaluation of an organisation’s performance against its purpose, said PwC recently when releasing findings of joint survey done with ACCA in a report. According to the report, the six capitals are: financial capital, manufactured capital, intellectual capital, human capital, social and responsible capital, and natural capital.
U.S. and Canadian banks are all but certain to cut personnel costs as the COVID-19 shock gives way to more long-term economic problems, even though the CEOs of some banks pledged this past spring to not lay off employees, per sources as reported by Reuters on Friday (Aug. 28). Industry experts cited by Reuters attribute their predictions to factors including low interest rates, credit problems among potential borrowers and efficiencies generated by work-from-home programs.
Goldman Sachs is pondering a $2 billion venture and growth fund that could boost its stature in the world of technology investing, sources told Bloomberg. The amount of the fund being $2 billion would make it one of the largest in the field, Bloomberg reported. It could help Goldman Sachs court bigger investors and investments. SoftBank 's Vision Fund has $100 billion, but otherwise, not many firms have investment funds in the billions.
MGM Resorts International CEO William Hornbuckle delivered bad news to his 18,000 furloughed U.S. employees on Friday (Aug. 28): They will not be invited back to work. The Wall Street Journal reports that the layoffs represent 25 percent of the company’s pre-COVID workforce of 68,000, as the global travel slowdown continues to hurt the casino industry’s recovery from COVID-19.
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.
Trimble has announced new upgrades for its TMT Service Center and TMT Fleet Maintenance solutions, including faster payment options and more visibility, according to a press release. Renaldo Adler , industry principal of asset management for Trimble Transportation, said the new ideas are intended to bolster services for the new COVID-19-based environment for businesses.
Some major New York City retail properties — including the shopping center at Hudson Yards — are only producing 50 percent of pre-pandemic rent, the CEO of major Big Apple landlord Related Cos. said Thursday (Aug. 27), according to CNBC. "Retail is obvious struggling," Jeff Blau said on CNBC's "Squawk Box." "We expect that will pick up post [re]opening.".
While a judge may not settle the dispute between Apple and Epic Games for months, the computer giant pulled the Fortnite maker’s games from the App Store on Friday (Aug. 28), 9to5Mac reported. Epic emailed its Fortnite players that the iOS and Mac versions of the game are blocked from receiving updates. The move comes amid a pending lawsuit against Apple by Epic.
Businesses and consumers alike are increasingly tapping new digital offerings for their financial needs as the ongoing COVID-19 pandemic shifts banking practices. Financial institutions (FIs) worldwide are searching for solutions that can help them swiftly support customers, but this means many are becoming more aware of their legacy systems’ inadequacies.
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.
Not unlike squirrels storing nuts for winter, some companies saw the resilience of digital channels long before the cold weather arrived earlier this year, carrying COVID-19 and assorted ills with it. Take restaurant success story Chipotle Mexican Grill , the fast-casual giant whose Q2 financials show the line of demarcation between an analog past and a very definite digital-first future.
Large, well-established companies were once seen as relatively insulated from disruptions wrought by Amazon, Netflix and other Silicon Valley giants. This was a doubtful proposition to begin with, but the COVID-19 pandemic has shaken such assumptions to the core, for companies both large and small. Corporates cannot expect to weather the economic and social changes taking place by virtue of their market clout and mastery of traditional supply chains and distribution channels.
Almost a third of renters in single-family or small multifamily properties couldn't make their August rent, according to CNBC , citing a survey by Avail , a tech and marketing platform for small landlords. The main reasons, the survey showed, were the same as they have been for months: the pandemic has left them without jobs or with reduced income. Missed rent payments have soared, rising 93 percent between March and May of this year as the pandemic wiped out jobs and kept people in their houses
The pandemic has fueled the need for European banks to restructure following years of poor performance. The Wall Street Journal (WSJ) reports a majority of Europe's biggest financial institutions (FIs) are ending old business models, trimming unprofitable business lines, boosting profitable ones and finding a formula that works. For example, based on weak returns, the newspaper reports HSBC is planning to trim 15 percent of its workforce.
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.
It’s the end of another week and the end of a busy month. The PYMNTS Weekender is here to catch you up on the latest payments and commerce news. We have deep dives on retail’s digital D2C shift, blank-check companies, and DoorDash’s IPO plans. Top News. DoorDash Moves Ahead With Q4 IPO Plans. DoorDash , the San Francisco-based prepared food delivery service, is planning to go public by year’s end, after filing confidentially in February.
Google 's cloud division is investing $100 million in Amwell , a telehealth operator preparing to go public, according to CNBC. The investment will come with Amwell transitioning some parts of its business away from Amazon Web Services and onto Google Cloud. Amwell will use Google as its "preferred global cloud partner," according to CNBC, and will move some of its video performance capabilities to Google.
Public drinking has been historically frowned upon from a legal perspective in America. Those looking to consume alcohol outside a private home, bar or restaurant have had to typically either pour their drinks into unmarked containers or slide them into an always-classy brown paper bag — until now. With COVID-19 shutting down bars, pubs, taprooms and distilleries nationwide, local regulators (and police departments) have started taking a somewhat more lax approach to the issue.
Today's modern, digital-first corporate has procurement expectations far beyond what the average business would have had only about five years ago. Like so many other areas of the enterprise, initiatives to optimize procurement activity have only taken greater precedence in the midst of the global pandemic. As a high-spend business function, procurement is embracing the opportunity of data analytics to understand spending patterns and identify potential areas to cut costs.
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.
Uber Health made big news this past week with the announcement that it was scaling up its delivery services to include pharmaceutical products in some locales. That’s a major new add-on for Uber Health, which the ride-hailing firm launched in 2018 to provide patients with transportation to and from medical appointments. "With COVID-19 cases still on the rise across the U.S., getting to a pharmacy to pick up prescriptions can be challenging for many and nearly impossible for some," Uber said in a
Freshly , which works in manufacturing fresh, prepared meals for the U.S., introduced a new B2B platform, Freshly for Business , which is centered around feeding company teams in any place, according to a press release published by Food Industry Executive. In 2020, Freshly is set to deliver 50 million meals to over 200,000 zip codes in the country, which the release stated will be a lifeline during the current pandemic.
Commonwealth Bank of Australia (CBA) has introduced a new digital service that expedites the distribution of pandemic-related loans, allowing small- to medium-sized businesses (SMBs) to access money "within minutes," according to a report from News.com.au. With the bank's new BizExpress Online, existing SMB customers can apply for loans of up to $50,000 through the bank's NetBank and CommBank apps.
Mitek , which offers digital identity verification services, has partnered with Lightico , which works in the field of identity verification and eSignatures, to provide a new way to complete transactions over a text message, a company blog post stated. Lightico, using a secure platform, can allow businesses to "collect forms, documents, eSignatures, photos and payments, consent to disclosures and verify identities instantly via text, even while the customer is on the phone," the post stated.
“What should we do about the tariffs?” There’s no straightforward answer — every leader has a different expectation. CFOs want numbers. COOs want action. CEOs want strategy. And supply chain and procurement leaders need to be ready with the right response — fast. That’s why GEP has created a simple three-part framework that will help CPOs and CSCOs brief the board and C-suite with clarity and confidence.
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