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There seem to be countless sources of collateral damage associated with the unexpected appearance of COVID-19 in early 2020 – the shutdown of production in China, the ripples through the global supply chain, the virtual zeroing out of the travel and events vertical and the carnage on Wall Street. The uncertainty injected into the market, as Ning Wang, co-founder and chief business officer at PingPong , told Karen Webster in a recent conversation, is having undeniable effects worldwide – which ar
Companies, regardless of their size, are dynamic entities—customers and their profiles change, employees come and go, and sales and go-to-market strategies shift throughout the year.
First and foremost, thank you for your service. You’re now entering a new era of your life as a business owner. If you’re reading this, maybe you’re considering opening up shop, or perhaps you’re in business and looking for more resources! As a veteran, the U.S. government has created numerous programs and opportunities to drive you to success! The Office of Veterans Business Development (OVBD) This department is exclusively geared toward veterans seeking entrepreneurship.
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
A French court has decided that bitcoin is money, the first time a court in France has issued such a ruling, according to a report from Les Echos Sunday (March 8). The decision came about following a clash between the Bitcoin marketplace Paymium and the crypto investment company BitSpread. The result of the ruling could lead to more activity in the French bitcoin market.
Daily data on traffic congestion and coal consumption suggest that the Chinese economy overall is operating about 25% below its usual level in the sixth week after the Lunar New Year, said Euler Hermes recently. Industrial production, retail sales and investment data for January-February that will be released on 16 March will provide a better picture of how much the COVID-19 outbreak hit the Chinese economy, the company pointed out.
Daily data on traffic congestion and coal consumption suggest that the Chinese economy overall is operating about 25% below its usual level in the sixth week after the Lunar New Year, said Euler Hermes recently. Industrial production, retail sales and investment data for January-February that will be released on 16 March will provide a better picture of how much the COVID-19 outbreak hit the Chinese economy, the company pointed out.
There is an adage: Buy the rumour sell the fact. Some articles seem to imply that today’s drop in oil price is also related to corona and part of the global retrenchment in the market. Nothing could be further from the truth. Oil price was definitely muted due to slack demand from oil consumers like airlines, but the 30% price decline is due to an oil-specific event.
Digital identity solutions are becoming more and more commonplace, especially as consumers grow increasingly aware of the weaknesses of authentication methods like passwords. A recent study found 32 percent of security incidents in 2019 involved phishing and 29 percent involved stolen credentials, both of which would have been much more difficult had secure digital ID systems been in place.
While RPA offers many benefits, CFOs face challenges related to implementation and employee mindset when deploying the technology. Malina Platon, managing director for ASEAN (pictured) at UiPath shares with FutureCFO on how finance leaders can tackle these challenges. Malina Platon, Managing Director for ASEAN, UiPath. FutureCFO: What are the latest RPA implementation challenges facing CFOs?
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.
After it was forced to shutter its retail locations in China because of the spread of COVID-19, Apple Inc. has reportedly put all of them back into operation. The closures were one of the main reasons the tech company cited for removing its March quarter sales outlook, Bloomberg reported. Apple has been slowly reopening the locations, with 38 of the 42 shops open for business as of last week.
From cash and coins to mobile wallets to wearables … to invisible payments. About 90 percent of purchases are still being made in-store, but the payment modalities are changing — and rapidly. To that end, said Matt Good, senior vice president and general manager of Elan Advisory Services , in an interview with PYMNTS, fledgling ways to pay — where wearables are wielded as payment instruments, and where mobile wallets replace leather ones — will soon become everyday methods.
Joust, a banking app in Austin, has announced it will pay users on their unpaid SXSW invoices to help them deal with the cancellation of the huge yearly festival, according to a release. Joust, which was a finalist for the 2020 SXSW Innovation Awards, said it will offer any affected users zero payment processing fees on its FDIC-insured free bank account.
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.
There is nothing worse than trying to get customer service from a less than fully functional chatbot or automated voice system. Ask it a question it gives an answer, just perhaps not a relevant one to the question asked. Re-phrase and re-ask, and the consumer might do better — but it’s likely they get the same bad answer, or the bot digs deep and finds a way to give a worse one.
Ant Financial , a division of China’s eCommerce giant Alibaba, has launched a three-year strategy to make its Alipay mobile app platform available to 40 million service providers so they can digitize their offerings, Alipay said in a press release on Tuesday (March 10). Alipay, the biggest payment platform worldwide, is aiming to solidify its position in China.
As part of its digital plans to speed up growth by purchasing shares in companies, Banco Santander is buying a majority stake in Mercury TFS. The bank is making an investment of €30 million in the firm, which automates as well as digitizes management of trade finance transactions for corporate clients from start to finish, according to an announcement.
For all the talk about artificial intelligence (AI) in financial circles at present – it seems everything is “AI-powered” – it turns out there’s a lot less genuine AI in place than we might have imagined. The March 2020 Unlocking AI Playbook: FI Edition , a PYMNTS and Brighterion collaboration, explains that while the use of AI solutions by banks and financial institutions (FIs) skyrocketed 70 percent in a single year (2018-2019), less than 10 percent of all banks say they use AI today.
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.
Unless one is having a medical emergency, going to an ER, in general, is often not the best way for a patient to receive care for more minor ailments. It is expensive, especially for the uninsured, but increasingly for the insured with a high deductible as well. It’s also incredibly time-consuming; ERs by nature of what they are triage patients in order of need, meaning if one is not profusely bleeding, unconscious, actively having a heart attack or a baby, the wait can be long.
There are bad days on the market — and in the wake of COVID-19, the disease caused by the coronavirus , which has spent the last month gaining more and more global ground, there have been more than a few of those of late. Then there are bloodbaths, where things go from bad to a sea of red in the face of a selling frenzy triggered by a massive wave of general uncertainty breaking and crashing through the markets.
To assist in bringing at-home testing kits for COVID-19, the disease caused by the coronavirus , to homes of Seattle-area residents, Amazon Care is reportedly in discussions with local health groups, according to a CNBC report. The talks have been occurring for over a week, according to unnamed sources. Amazon Care rolled out last fall as an experimental effort to provide employees and dependents in the area of Seattle with high-quality health care.
The toll of the coronavirus on businesses has hit everything from tourism to large gatherings like concerts and conventions. With those goes the value of Airbnb , which saw its bookings fall by 40 percent, according to published reports Thursday (March 12). According to independent data from analytics group Airdna, the drop was largest in China (previously the fastest-growing market for the rental platform) and parts of Europe where the virus has hit the hardest.
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.
Aristotle may have originated the notion of first principles thousands of years ago, but it would take Elon Musk to add a contemporary business flair to that method of analyzing business problems. First principles is the discipline of going back to the rudimentary sources of truths for any problem or situation, and then designing a solution only after truly understanding those foundational elements.
Will this be the year that real-time payments — and, especially, peer-to-peer (P2P) — reach critical mass in the United States? In an interview with PYMNTS, Matt Wilcox, senior vice president of payments innovation at Fiserv , said recent data points show that an increasing number of financial institutions (FIs) are determined to satisfy a real demand for real-time transactions.
To allow users to borrow against their holdings, digital currency wallet and exchange company Blockchain.com unveiled a “Borrow” Service. The offering will provide loans in stablecoins that are denominated in U.S. dollars against bitcoin holdings kept in the Blockchain Wallet, Coindesk reported. Blockchain Co-Founder and CEO Peter Smith said per the report, “Institutional and retail investors have the same financial goals — grow wealth and manage risks — but the tools at their disposal are vastl
Faster payments are only one example of the effects of a world moving toward real-time everything, with growing customer demands driving change in the way banks and businesses operate themselves. As such, the consequences of real-time payments aren’t solely impacting consumers’ peer-to-peer ( P2P ) transaction activity. Indeed, services like Zelle and The Clearing House’s RTP are impacting, both directly and residually, financial processes of banks, small- to medium-sized businesses (SMBs)
“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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