FASB studies AI use in financial data analysis
CFO Dive
MARCH 3, 2023
The surge in use of conversational artificial intelligence has prompted scrutiny of the technology’s role in financial decisions.
Frances Lawrence, CFO, FISCAL Technologies
CFO News Room
DECEMBER 2, 2022
When Frances Lawrence was first brought in as Financial Director at software company FISCAL Technologies in 2019, the business was in real need of working capital to accelerate the growth curve. . Frances’ beginnings at FISCAL Technologies. The post Frances Lawrence, CFO, FISCAL Technologies appeared first on GENCFO.
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Technology Safeguarding The Age-Old Practice Of Financial Data Sharing
PYMNTS
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.
AI scales up fraud controls, but humans still vital
CFO Dive
MARCH 26, 2024
AI analytics technology is turbocharging anti-fraud measures through its ability to process oceans of financial data.
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The Changing Role of CFOs in a Technology-Driven World
Bramasol
SEPTEMBER 29, 2023
This blog post provides an overview of these major waves of change based Bramasol's more than 27 years of working closely with CFOs and their stakeholders across many industry segments and technology innovation cycles. They are expected to provide financial leadership and insight into the organization's strategic direction.
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PodChats for FutureCFO: Bridging the confidence gap in financial data
Future CFO
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.
Consumer Financial Protection Bureau Seeks Advice On Financial Data Access
PYMNTS
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.
Financial Data Analytics Firm MX Lands $100M Investment
PYMNTS
JUNE 26, 2019
MX, a Utah-based technology startup offering a data cleansing and analytics platform for the finance sector, has just announced a $100 million investment. The company has evolved to focus on financial data, particularly as financial institutions struggle to cleanse and normalize data to be analyzed properly.
Pragmatically Navigating New Technologies in The New Year
The Finance Weekly
DECEMBER 30, 2021
For businesses, this might spell out the adoption of a new strategy, scheduling approach, or technology implementation. Technology implementation has been a popular course of action in recent years for many organizations. Moreover, how do you ensure data quality, security, and privacy as cybersecurity breaches stubbornly persist?
AccessPay Connects Businesses To Banks With Gresham Technologies
PYMNTS
SEPTEMBER 26, 2019
data software company Gresham Technologies has announced a collaboration with AccessPay to enable enterprise-to-bank data connectivity. Gresham is focusing on real-time financial data management for cash flow and payments control, it said. including Bacs , the company said.
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Accelerate Research With The Right ERP for Research Organizations
Navigator SAP
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.
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How Tech Can Help Uncover The Story Behind Financial Data
PYMNTS
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. “With cloud technology, you take away the barriers of traditional enterprise infrastructure.
The Financial Data Goldmine Of Order-To-Cash
PYMNTS
OCTOBER 13, 2017
Data analytics can go deeper, not only to analyze historical data to understand customer payment behavior and other patterns, but – using technologies like artificial intelligence and machine learning – to also predict order-to-cash metrics.
Theranos Sued On Allegations Of Misleading Tests, Financial Data
PYMNTS
APRIL 25, 2017
The filings alleged the company misled investors in part by running blood tests on equipment that was in fact composed of commercial devices while stating that it was the company’s own technology.
The CFPB Takes A Closer Look A Consumer Choices In Financial Data Sharing
PYMNTS
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. Technology provides opportunities to use these records to create new consumer tools that help improve financial lives.
BlackLine: Finance need to be aware of these GenAI adoption challenges
Future CFO
FEBRUARY 4, 2024
In addition, 88% of Singapore C-suite and finance leaders chose GenAI as one of the key technologies that will help strengthen business resilience in a survey we conducted with Censuswide last year. NP: Training AI models to understand and interpret complex financial data accurately requires dedicated time and resources.
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The evolution of accounting
Future CFO
JANUARY 22, 2024
The accounting industry is undergoing profound transformation due to rapid technological advancements across all sectors in the market. Modern accounting software integrates seamlessly with diverse financial systems, automating tasks such as data entry, bank reconciliation, and invoice processing.
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Plaid Technologies Raises $44M With Citi, Amex VC Arms Taking Part
PYMNTS
FEBRUARY 7, 2017
Plaid Technologies, a startup that helps FinTechs like Venmo and Lending Club access their customers’ bank accounts, has raised $44 million in a Series B round of venture capital funding. According to a report , the venture units of Citi and Amex took part in the latest round of fundraising.
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Nonprofit Leadership: Using Data for Better Decision-Making
The Charity CFO
MARCH 22, 2024
Types of Data for Nonprofits The types of data a nonprofit might use for decision-making can vary between organizations. Most nonprofits will use at least one of three types of data: Financial data: Financial data includes any data relating to the finances of the organization, such as revenue or expense data.
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Managing Your Accounts Payable: A Guide for Small Business Owners
https://trustedcfosolutions.com/feed/
MARCH 22, 2023
The Tech Stack for Your Accounts Payable Technology has revolutionized how we do business, and accounting is no exception. You can track invoices, payments, and expenses in real time and securely access your financial data from anywhere. Optical Character Recognition (OCR) Technology. Electronic Payment Systems.
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Streamlining financial operations: Singapore optimistic towards AI
Future CFO
DECEMBER 20, 2023
The survey, conducted recently by independent research agency Censuswide, asked 1,339 C-suite and F&A professionals around the world (US, Canada, UK, France, Germany, Australia, and Singapore) about their views on emerging technologies and their potential impact on F&A and businesses more broadly, said BlackLine.
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Advice Engagement Tools For A More Dynamic VIP (Visualization, Interaction, and Process) Planning Experience
Nerd's Eye View
NOVEMBER 29, 2023
As a result, tools have emerged that are designed to keep clients engaged in the financial planning process throughout the year, addressing the inefficiency and time burden of frequently updating the full financial plan itself.
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The Ideal Nonprofit Accounting Tech Stack
The Charity CFO
APRIL 1, 2024
Implementing technology into your nonprofit accounting process can help solve a variety of issues—from tracking receipts to properly recording donations. In most cases, technology helps improve the efficiency and accuracy of nonprofit accounting. You’ll need to use the right technology systems to get these benefits.
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Three Years On, Open Banking Broadens For Business Banking
PYMNTS
JANUARY 26, 2021
The financial institution (FI) revealed last week that it is working with Volante Technologies to accelerate its ISO 20022 adoption, leaving Citi to become Volante’s first banking customer to take a unified approach to its global migration to the messaging standard. HashCash Brings Blockchain Tech To Unnamed Bank.
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AI in the finance function
Future CFO
AUGUST 21, 2023
Mark D McDonald “Just like any disruptive technology throughout history, AI will inevitably displace and replace some roles and skills, but new roles, skills, and opportunities will also emerge." What level of maturity in terms of experience at work and in the use of technology should a finance person have for AI to make a difference?
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EACT SURVEY 2021
Simply Treasury
JUNE 3, 2021
It also aims at identifying challenges corporate treasurers of MNC’s are facing and technological innovations they intend to implement. Top three treasury priorities in the coming months: Technological innovations. The answers show a certain lucidity on the part of treasurers who seem realistic in their use of new technologies.
Traditional FIs Drive Modernization Through FinTech Pairings
PYMNTS
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. Radius Bank Ramps Up SMB Services With Narmi.
Digital Transformation in Finance: How to Drive the Process
Spreadym
JULY 21, 2023
Digital transformation in finance refers to the process of integrating digital technologies and innovations into all aspects of financial services and operations within a financial institution or organization. What is a Goal of Digital Transformation in Finance?
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Capitalising on the Fintech apps in APAC
Future CFO
AUGUST 1, 2023
The demand for mobile wallets, online banking services, and the increasing adoption of digital technologies has led to the expansion of the financial applications market in Asia/Pacific. Companies are increasingly seeking secure and compliant solutions to manage their financial data.
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What’s important to CFOs in 2023?
Future CFO
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.
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How to Find the Best FP&A Candidates for Your Team
Spreadym
OCTOBER 3, 2023
Budgeting and Forecasting: They have experience in creating and managing budgets, as well as forecasting financial performance based on historical data and future expectations. Strategic Thinking: FP&A candidates align financial goals with the company's strategic objectives, contributing to long-term planning and decision-making.
Mastering Cash Flow Management: Ensuring Liquidity for SMB Success
CFO Network
MARCH 11, 2024
Leveraging Technology for Cash Flow Management Technology plays a crucial role in modern cash flow management for SMBs. Implementing cloud-based accounting platforms can enable SMBs to access financial data anytime, anywhere, and collaborate more effectively with their financial advisors.
How Virtual Bookkeeping Can Save You Money
KG Virtual CFO
JUNE 20, 2023
This service is provided by professional bookkeepers who can access and maintain the business's financial information from anywhere, without the need for physical presence. In today's fast-paced and technology-driven business environment, it is essential for small businesses to stay competitive and efficient.
5 Tips for CFOs to Limit AI Risks
The Finance Weekly
OCTOBER 15, 2023
Breakthroughs for CFOs Generative AI, a powerful technology, helps CFOs in various ways: Saving Costs and Improving Efficiency Generative , AI assists CFOs in finding ways to save money and streamline operations by automating financial processes. The world of Generative AI is always changing, making it hard to keep up.
Upping spreadsheet value in 2023 for digital finance
Future CFO
SEPTEMBER 21, 2023
However, we may belittle it as a product of the late 70s technology, the spreadsheet remains a preferred first tool for organising ideas into some order – whether it is a list of people attending an event or expenses. Integration improves data accuracy, real-time changes, workflow, and repetitive spreadsheet activities.
Stripe: How finance functions can make automation work
Future CFO
MARCH 10, 2024
Automation—through the use of artificial intelligence (AI), large language models (LLMs), and other technologies—has the potential to change the anatomy of work and augment the abilities of individual workers by automating time-consuming manual tasks. FutureCFO: How should CFOs tackle these challenges?
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The Modern CFO: At the forefront of business transformation
CFO Talks
JUNE 6, 2022
From their beginnings as historians of financial data and past performance, they evolved into real-time analysts, and visionaries with predictive technologies at their fingertips. The modern CFO is not working alone but instead bringing their human teams together with emerging technology.
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How Data Guides A New Era For The ERP
PYMNTS
MARCH 4, 2020
Enterprise cloud migrations have opened up the ability for smaller businesses to adopt ERP technology once reserved for the largest corporates. At the same time, a surge in third-party financial platforms has disrupted the flow of data into the ERP, disbursing information throughout the back office. Modernizing the ERP.
Fast-Track Your Financials: Techniques to Slash Your Month-End Close
https://trustedcfosolutions.com/feed/
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. Regularly reconcile accounts: Instead of waiting until the end of the month, reconcile your accounts regularly.
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Embracing AI in Finance and Accounting: Balancing Risk and Innovation
CFO Leadership
OCTOBER 10, 2023
This technology offers unprecedented rewards, but it also presents new risks that we all must navigate. System and Organization Controls (SOC) reports are critical components in the controls infrastructures of any company relying on third party systems and applications in the production of financial data and reports.
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Making the case for connecting the spreadsheet dots
Future CFO
NOVEMBER 15, 2023
Ervina Waty : Here are some key changes that CFOs might need to put in place: Enhanced Data Governance and Quality Control CFOs should implement stronger data governance practices to ensure the accuracy, consistency, and integrity of financial data.
Efficiency First: Tech Trends for Finance Teams in 2023
The Finance Weekly
DECEMBER 22, 2022
As the outlook for the 2023 economy becomes more uncertain, finance professionals are looking to invest in technology that increases organizational efficiency and contributes to strategic decision-making. Not all companies will have the same technology needs, and the focus of technology investment may vary.
What to Look for in a Nonprofit Accounting Partner
The Charity CFO
APRIL 2, 2024
In addition, you need to make sure your financial data is accurate and readily available for donors, board members, and other stakeholders. Technology and Tools Technology can be an absolute game-changer for nonprofit organizations. However, technology and financial tools are only as good as their implementation and use.
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Outsourced Bookkeeping Services
CFO Share
DECEMBER 13, 2023
We understand the importance of precise financial data. Leverage technology. Our team uses the best technology on the market to be efficient while protecting your privacy. Accurate bookkeeping isn’t just a necessity—it’s the backbone of strategic decision-making. Relying on luck is not an option.
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