FASB studies AI use in financial data analysis
MARCH 3, 2023
The surge in use of conversational artificial intelligence has prompted scrutiny of the technology’s role in financial decisions.
AUGUST 2, 2019
In a recently reported data breach, Poshmark said it recently learned that an unauthorized third party acquired data from some users. The fashion marketplace company said the information does not include physical addresses or financial data, according to a web post.
FEBRUARY 15, 2021
According to Terry Smagh , senior vice president & general manager, Asia Pacific & Japan, BlackLine, the company undertook the study is to understand and recognise the critical role that financial data plays in informing businesses about strategy and continuity, the poor visibility if any, and the lack of real-time access to data.
JULY 26, 2020
The announcement by the Consumer Financial Protection Bureau ( CFPB ) comes on the heels of a symposium it held in February which included experts from consumer groups, financial technology (FinTech) companies, trade groups, banks and data aggregators.
MARCH 7, 2023
The majority of leaders at financial institutions say interest rates will drive business model guidance this year but few are leveraging financial data to support these changes.
FEBRUARY 21, 2023
Nearly half of execs expect cyber attacks on financial data to increase in 2023, but the majority of finance leaders don't have consistent communication with their CIO to mitigate this risk.
APRIL 7, 2017
The approach to financial services for consumers and businesses is quite vast, but across the spectrum, access to and management of financial data is a critical component. Finicity , a company built for financial data aggregation, is jumping into the conversation.
JUNE 26, 2019
The funding comes as MX continues to build out its data solutions for financial institutions after initially launching in 2010 as a company offering banks a personal financial management solution they could provide to customers.
FEBRUARY 2, 2018
Information technology (IT) management solutions provider Kaseya, which targets managed service providers (MSPs) with its offerings, is linking up with small and medium-sized business (SMB) accounting firm Xero to help businesses gain greater control over their financial data. The companies said Thursday (Feb.
MARCH 14, 2019
Cleo said in a press release this week that it will pair its integration-Platform-as-a-Service (iPaaS), Cleo Integration Cloud, with Sage’s Intacct tool, a cloud-based financial management solution for corporates.
AUGUST 19, 2022
One of the main success factors for modern enterprises is having access to real-time financial data. This can only be achieved through streamlining the process of collecting, managing, and sharing data in your organization.
MARCH 27, 2023
Fortunately, new and innovative technologies provide businesses with cutting-edge tools designed to accelerate, track and support their research processes and provide them with accurate project and financial data that they can use to improve their daily operations.
DECEMBER 8, 2019
As a way to prevent unfair competition, the Financial Stability Board (FSB) said in a report on Sunday (Dec. 8) that there should be “vigilant monitoring” of Big Tech’s move into financial services. Firms like Google, Alibaba and Facebook could be forced to share data with banks and FinTech firms.
FEBRUARY 12, 2018
They are instrumental to financial institutions’ adherence to new rules that require them to open up data streams to third-party players, and traditional FIs are (finally) participating in the data-sharing game. The EU’s PSD2 and Open Banking in the U.K.
FEBRUARY 14, 2017
million in funding last year, helps SaaS companies manage operations by providing financial management, auditing and reporting, analytics and other back-office services. The business model of SaaSOptics could, in part, be described as a B2B SaaS firm for B2B SaaS firms. The company, which raised $1.8
AUGUST 10, 2023
What is financial reporting software? Financial reporting software refers to specialized tools or applications designed to help organizations generate, manage, and present their financial data in a clear and organized manner. Exporting and Sharing: The ability to export reports in various formats (PDF, Excel, etc.)
NOVEMBER 17, 2022
With external pressures that are hard to predict, real-time visibility over financial data, processes and working capital will be key to survival, leading to greater pressure on CFOs and those who report into them, according to the research.
MARCH 4, 2022
Some businesses only need operational support that streamlines financial data and processes. Most ERP systems can integrate all your operating and tax information to automate business processes, but you should ensure the solution aligns properly with the legal structure of your business.
APRIL 25, 2017
The Wall Street Journal reported last week that one of the company’s investors filed suit, alleging that the company misled directors about its testing procedures, deceived investors about financial outlooks and also set up “shell” operations in order to secretly buy laboratory equipment.
AUGUST 29, 2023
The GL serves as the cornerstone for all financial reporting and procedures, establishing the framework for financial data management. It offers a wide range of functionality, including accounting support, customer relationship management (CRM), financial software, inventory management, order management, and more.
JULY 23, 2023
Top Indian companies are facing challenges due to the capital-markets regulator's new Environmental, social and governance (ESG) rules as they struggle to collate non-financial data dispersed across various internal systems, evaluate the impact of disclosing private data on sensitive governance issues, and start dealing with the complexity of capturing (..)
JULY 9, 2023
As per the financial data accessed by Tofler, the direct-to-home (DTH) company's revenue from operations for the fiscal year dropped 5.1% to ₹4,499 crore from ₹4,741 crore a year ago. Total expenses increased by a percentage point to ₹4,691 crore from ₹4,642 crore.
JULY 5, 2017
For a chief financial officer (CFO), having technology — from ERP systems to cloud accounting and cash forecasting tools — has become paramount when deploying a successful growth strategy.
MARCH 22, 2023
You can track invoices, payments, and expenses in real time and securely access your financial data from anywhere. Sage Intacct provides centralized access to all your financial data, from bills and payment status to approvals and audit trails, so you can be sure your financial statements are accurate.
AUGUST 14, 2023
This unique position requires a specified approach to SaaS finance and the analysis of its financial data. Set to reach nearly $600 billion , the SaaS industry is poised to dominate markets for years to come, expected to account for 85% of all business apps by 2025.
MAY 1, 2023
What is financial forecasting? Financial forecasting is a specific process where businesses take financial data from the past, apply it to the current business environment, and aim to make predictions about a company’s future financial outcomes.
NOVEMBER 17, 2016
The CFPB is taking a closer look at consumers and the relationship to their financial records — specifically the issues they face in accessing, using, and securely sharing their financial records.
AUGUST 17, 2023
A financial reporting dashboard is a visual representation of financial data and key performance indicators (KPIs) presented in a consolidated and easily digestible format. This allows for a personalized view of the financial data. Organize the dashboard into sections or tabs for different financial areas (e.g.,
APRIL 13, 2022
Financial data is one of the most valuable commodities in the world, and consumers have the right to control who gets access to it. Through customer-permissioned data sharing, central interfaces and the emergence of the consumer data right, consumers are the main beneficiaries of Open Banking.
FEBRUARY 14, 2023
The Income Tax department survey operation against BBC India continued for the second consecutive day with the sleuths understood to be making copies of electronic and paper-based financial data of the organisation, officials said Wednesday.
AUGUST 21, 2023
Robert E Parker "As we look forward to the developments in AI, finance leaders will be in a better position to uncover hidden opportunities and risks and step beyond using structured financial data by utilising data from across organisational silos enhanced with data from outside the organisation."
CFO News Room
NOVEMBER 23, 2022
after Citigroup was told it must address weaknesses in its management of financial data by U.S. Check out the companies making headlines in midday trading Wednesday: Citigroup — The stock dropped 2.3% banking regulators.
DECEMBER 29, 2020
Consumer Bank Chief Digital Officer Mike Naggar said the FI aims to provide customers "a choice, convenience and control of their financial data. WEX Talks Bank Partnerships To Advance B2B Payments. The company is focusing on users that may be underbanked, lacking traditional bank accounts.
CFO News Room
DECEMBER 2, 2022
I really enjoy presenting financial data in a way that’s easy for someone without a financial background to understand and explaining things in laymen’s terms.” . Likewise, presenting financial data at board meetings needs to be a lot more detailed and technical. . “I
SEPTEMBER 14, 2021
Compounded over many rows, even a simple mistake can lead to faulty financial data. Large or small business that use spreadsheets are taking a risk: Boeing leaked employees’ personal data in a hidden spreadsheet column. Siloed financial data can lead to false assumptions because insight isn’t based on a complete picture.
KG Virtual CFO
JUNE 20, 2023
Cost Savings Virtual bookkeepers can analyze financial data to identify areas where a small business can cut costs, such as reducing overhead expenses or renegotiating contracts with suppliers. They will set up a system to track income and expenses, which can make tax time easier when it comes around.
Beacon CFO Plus
SEPTEMBER 27, 2023
Fractional CFOs can adapt to these changing requirements, helping startups scale their financial operations efficiently. Whether it’s hiring finance teams, implementing advanced financial systems, or managing increased financial data, they ensure that the startup’s financial infrastructure can support its growth trajectory.
MARCH 30, 2023
Less Stress Leads to More Success: Why a Faster Monthly Close Is Key Faster and more accurate closing cycles ensure your advisors, CFOs, and controllers have up-to-date financial data to base important decisions.
DECEMBER 17, 2019
Open Banking could be expanded soon to allow for data sharing between a much larger range of finance companies, according to the Financial Conduct Authority (FCA). Open Banking allows bank customers to share their financial data with other people and companies. In the U.K.,
APRIL 27, 2023
Financial analysis and planning (or FA&P) software is a type of business software that helps companies manage their finances and operational activity by analyzing financial data and providing tools to plan, forecast and make budgets for efficient business growth. Visit the link to learn more about it.
DECEMBER 18, 2022
In the coming year, CFOs will be expected to focus on helping their companies build resilience – whether through critical decision-making backed by a real-time view of financial data, or ensuring competitive advantage with digital transformation and sustainability initiatives. Steering companies through the economic volatility ahead.
JUNE 27, 2023
Budgeting involves allocating resources and setting financial targets for various departments or business units within the organization. Financial Analysis: FP&A professionals conduct in-depth analysis of financial data to assess the organization's performance and identify areas for improvement.
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