Macy’s says accountant hid as much as $154M in expenses
CFO Dive
NOVEMBER 25, 2024
The deliberately misleading accounting of expenses since the fourth quarter of 2021 did not disrupt cash management or vendor payments, Macy’s said.
#186 – Insured Deposit Accounts: Interest Rate Changes and Security (Landing Rock Cash Management)
Strategic Treasurer
JANUARY 31, 2022
Insured Deposit Accounts: Interest Rate Changes and Security. On this episode of the podcast, Host Craig Jeffery continues a conversation with Bruce Bent II, CEO and President of Landing Rock Cash Management, on insured deposit accounts with a focus on interest rate changes and security. Primer: Insured Deposit Accounts.
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Best Treasury And Cash Management Providers 2024: Systems And Services
Global Finance
JULY 26, 2024
Embedded finance features include global payments, virtual accounts (VAs), and account management. Nordea , which wins two awards this year, as both Best Fraud Detection Solution and Best Bank for Treasury FX Services, has developed a new secure Cash Management self-service request.
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Client Cash Management: Why It’s Important, And The Next Generation Of Technology To Make It Better
Nerd's Eye View
AUGUST 22, 2022
In general, this means that people are more likely to be more aware of how much cash they're holding than the other numbers in their financial life, like the balances on their retirement accounts (which, being less 'immediate' in their intended purpose, are not often at the forefront of most people's minds to the same extent that cash is).
Client Cash Management: Why It’s Important, And The Next Generation Of Technology To Make It Better
Nerd's Eye View
AUGUST 22, 2022
In general, this means that people are more likely to be more aware of how much cash they're holding than the other numbers in their financial life, like the balances on their retirement accounts (which, being less 'immediate' in their intended purpose, are not often at the forefront of most people's minds to the same extent that cash is).
Best Cash Management Solutions for Businesses
The Finance Weekly
OCTOBER 30, 2024
Cash management isn’t just about keeping tabs on your cash flow. Effective cash management is a cornerstone of financial health for businesses of all sizes. Without streamlined processes, businesses can suffer from cash shortages or inefficient capital allocation, both of which threaten sustainability and growth.
Google, Intuit Pair Up For SMB Cash Management
PYMNTS
SEPTEMBER 14, 2017
Google and Intuit are pairing up to help Australian small businesses (SMBs) get a better grip on cash management. The Google Calendar App also integrates with QuickBooks Online and QuickBooks Online Accountant, the companies said. Reports Wednesday (Sept.
#185 – Primer: Insured Deposit Accounts (Landing Rock Cash Management)
Strategic Treasurer
JANUARY 25, 2022
Primer: Insured Deposit Accounts. On this episode of the podcast, Host Craig Jeffery sits down with Bruce Bent II, CEO and President of Landing Rock Cash Management, to discuss a primer on insured deposit accounts. Speaker: Bruce Bent II, Landing Rock Cash Management. Explore All Episodes. Related Resources.
Rounding Out SME Cash Management Offerings
PYMNTS
OCTOBER 10, 2016
Just look at SAP Ariba , which integrated PrimeRevenue’s supply chain financing into its spend management platform, or Reckon , a small business accounting platform that recently rolled out an SME lending feature thanks to Prospa. Less common, however, is an SME financing solution that integrates into a commercial card offering.
CoCoNet Partners With Raifeissen On B2B Payment, Cash Management
PYMNTS
NOVEMBER 22, 2020
Raiffeisen , the third-largest Swiss banking group, has joined up with software provider CoCoNet to launch a payment and cash management service for companies, a statement says.
Deutsche Bank Debuts Cash Management In Australia
PYMNTS
NOVEMBER 11, 2020
Deutsche Bank has opened a new cash management business in Australia, which will add to its global portfolio, according to a press release. Deutsche Bank now operates a global network of cash management services in 35 locations with 14 in the Asia Pacific, the release stated.
Small Biz Cash Management Struggles Across The Globe
PYMNTS
OCTOBER 27, 2016
. “However, as the large majority of SMEs still finance themselves with cash flow from operations, there is a significant opportunity for businesses to optimize working capital through better relationships with customers and better use of accounts receivables.” ” Indeed, 76 percent of SMEs in the U.S.
Grow Your Restaurant Chain With The Right Accounting Solution
https://trustedcfosolutions.com/feed/
MAY 27, 2022
Owning a restaurant chain or several restaurant franchises can be challenging when it comes to accounting and being able to consolidate all your reporting and records. There are a lot of accounting solutions on the market but only one that can provide you with all the information you need to make those critically important growth decisions.
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Best Treasury And Cash Management Providers 2024: Africa
Global Finance
JULY 26, 2024
“In the fast-paced business environment of today, corporate banking clients need payment solutions that are fast, efficient, reliable and secure,” says Kent Marais, head of Payments and Cash Management, Transaction Banking. This includes incoming payments, cash deposits, and cleared checks against their accounts.
Why Cash Management Is Driving Corporate?s Digital Payments Transformation
PYMNTS
JUNE 11, 2020
Now that businesses have gotten a taste of what it means to automate workflows like invoicing, accounts receivable (AR) and cash management, they’re likely never turning back. “They’re getting the taste of being able to get cash flow faster and give their supply chains choices in how to pay.
Today In B2B: NeweggBusiness Adds Payment Terms; Deutsche Expands Cash Management Business
PYMNTS
NOVEMBER 12, 2020
Today In B2B payments, NeweggBusiness integrates business financing and payment terms via Behalf, while Deutsche Bank expands its cash management offering into Australia. Deutsche Bank Debuts Cash Management In Australia. Newegg Chooses Behalf For Flexible Business Financing. 11) press release.
Companies eye money market funds for cash management
Future CFO
OCTOBER 2, 2023
Cash management has made its way into becoming a key competency for leadership teams in protecting their companies’ overall long-term health. Moreover, current market conditions drive private fund managers to hone in on their cash management practices , with many turning to strategies more commonly used by their corporate counterparts.
Best Treasury & Cash Management Providers 2024: Asia-Pacific
Global Finance
JULY 26, 2024
With a large global presence but a core strength in Asia, Bank of China (Hong Kong), winner of our Best Bank for Cash Management award, has a suite of cash management services, including account management, collection and payment processing, liquidity management, and investment options.
Tips for cash management for a nonprofit organization
The Charity CFO
MAY 19, 2023
Cash management for a nonprofit organization is possibly the most important consideration for success. In this article, we will build upon that knowledge and delve more specifically into the topic of cash management. What is cash management?
Best Treasury And Cash Management Providers 2024: Central And Eastern Europe
Global Finance
JULY 26, 2024
Companies operating in Central and Eastern Europe (CEE) continue to face unique challenges when it comes to cash management, due to a mix of economic development and regional variations. ING wins as the Best Bank for Cash Management.
Best Treasury And Cash Management Providers 2024: Middle East
Global Finance
JULY 26, 2024
FAB wins two awards this year, as Best Bank for Transaction Banking and Best Bank for Long-Term Liquidity Management. The bank invested heavily in innovative cash management and liquidity solutions to enhance the experience and treasury capabilities of the region’s corporations.
8 ways payment automation makes cash management better
CFO Leadership
MARCH 31, 2022
The pandemic spurred many realizations, including this one: the enterprise cash management process is broken. Cash management is always important, but it’s certainly gotten a lot more attention in the past two years. As companies went into crisis mode, keeping a very close eye on cash became a top priority.
Why Faster Payments Isn’t The Answer To Accounts Receivable Delays
PYMNTS
FEBRUARY 19, 2019
That probably won’t come as a surprise to many in the B2B payments space, considering that organizations typically try to float their capital for as long as possible, a cash management tactic that can lead to longer payment terms with small suppliers, and the prevalence of late payments. In the U.K., Rimilia , a U.K.-based
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PodChats for FutureCFO: Why intercompany accounting is crucial for post-merger success
Future CFO
MAY 26, 2022
According to Victor Ng , regional vice president for Asia, BlackLine , intercompany accounting involves the recording of financial transactions between different legal entities within the same private company. To Ng, the most common red flag is unreconciled intercompany accounts. What is intercompany accounting?
Helping Nonprofits Embrace Cash Management
PYMNTS
DECEMBER 2, 2019
must continually demonstrate accountability to continue serving their respective missions. Manual processes can lead to requisition approval times longer than other businesses, and many nonprofits lack the automated eProcurement solutions that can quickly process requests and approve expenses. . million active nonprofits in the U.S.
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HSBC Hong Kong Announces New API For Instant B2B Payments
PYMNTS
JUNE 21, 2020
That will allow businesses to eliminate the cumbersome old ways, which required them to sign onto their bank accounts to set up a direct debit instruction and then wait several days before it was ready. Yvonne Yiu , head of global liquidity and cash management with HSBC, said the simplicity makes a difference for the customer.
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B2B Subscriptions Change The Corporate Accounting Game
PYMNTS
SEPTEMBER 20, 2016
That expansion also means challenges for the businesses in how they manage their accounts and finances, as well as their relationship with business or consumer subscribers. ” When billing on a recurring basis instead of a single time, manual accounting tactics can make cash management monumentally more difficult.
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SMBs Shift Their Cash Management Strategies
PYMNTS
APRIL 8, 2019
According to Swift Prepaid Solutions , the majority of businesses that have sought financing in the last 18 months prioritize the ability to receive loan payouts in a prepaid account, followed by ACH payments to their bank accounts.
Why Accounts Payable Is The ‘Lost Child’ Of Finance
PYMNTS
MAY 9, 2019
So it is with accounts payable (AP), as Chen Amit, CEO of Tipalti , told PYMNTS in a recent interview. Accounts payable is the ‘lost child’ hidden in business workflows,” said the executive. “I Of accounts payable in general, he said, “it’s a cumbersome process. Cash management becomes less art than science.
HSBC Streamlines Inter-Company Bank Accounts
PYMNTS
JULY 9, 2019
HSBC is introducing virtual accounts for corporate and institutional clients, the financial institution said in a press release sent to PYMNTS on Monday (July 8). The bank announced that its Next Generation Virtual Accounts are now available to wholesale clients to support cash and multi-currency management.
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Meeting the Need for Tech-Driven International Banking Solutions
Global Finance
SEPTEMBER 25, 2024
Susanne Prager, head of cash management at Raiffeisen Bank International (RBI), discusses the challenges affecting global banking services and the need for the latest tech tools to help companies succeed in CEE and around the world. RBI’s solutions like its centralized Cash Management Hub (CMIplus) can streamline these processes.
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ClearBank Introduces Multi-Currency Bank Accounts
PYMNTS
SEPTEMBER 17, 2020
Cloud-based clearing bank ClearBank has begun offering multi-currency bank accounts using an API, according to a press release. Beginning in the fourth quarter this year, the bank will allow users to access over 30 multi-currency accounts.
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Robinhood Rolls Out Interest-Earning Bank Account
PYMNTS
DECEMBER 12, 2019
Online brokerage startup Robinhood has introduced a cash management service that will give customers 1.8 This new service follows last year’s unsuccessful launch of a checking and savings account product, which was not well received. percent interest on any money they don’t have in stocks, Bloomberg reported on Wednesday (Dec.
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54 Unifying Operational Accounting and Compliance Accounting in the Office of the CFO
Bramasol
JUNE 25, 2024
However, amidst the ever-expanding role of the Office of the CFO, accounting still is a major responsibility and this arena also is radically changing with the availability of new tools, technologies and challenges. These capabilities address key operational accounting issues as companies transform their business offerings.
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JPMorgan On The Digital Transformation Of Corporate Liquidity Management
PYMNTS
SEPTEMBER 8, 2020
The rise of the coronavirus has spotlighted the need for corporate treasurers to make real-time decisions about cash management. They must also be able to reconcile those accounts and address funding requirements in a proactive, strategic manner. Mobile banking apps mean we can check bank balances and pay bills on the fly.
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Crypto Gets A Second Look From Corporate Investors Seeking Yield And Hedge
PYMNTS
OCTOBER 14, 2020
The head of the country’s only licensed and publicly traded cryptocurrency broker says tighter regulation and exponentially higher yields are causing corporate treasury and cash management accounts to seriously consider this alternative asset class. This in the wake of the OCC’s Sept.
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Brex Launches Brex Cash As Bank Accounts Replacement
PYMNTS
OCTOBER 3, 2019
FinTech startup Brex is launching a business cash management account to replace traditional business bank accounts, the company said in a press release on Wednesday (Oct. The Brex Cash account will work with the Brex Card on one network and offers users a return of 1.6
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Cutting Through The Accounting Jargon For Independent Contractors
PYMNTS
APRIL 23, 2020
Unfortunately, independent contractors have also frequently been left out of the picture for traditional banks and even newer FinTechs despite the recent influx of small business cloud accounting apps and other B2B FinTech platforms. Accounts payable is the money you owe your suppliers. Easing The User Experience.
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HSBC Taps Tokenization For Accounts Receivable Tool
PYMNTS
JUNE 19, 2019
HSBC is rolling out its digital accounts receivable solution for corporates in India after teaming up with Australia-based Identitii , reports in IT Wire said on Tuesday (June 18). “HSBC’s DART is an industry first,” said Identitii CEO Nick Armstrong in a statement.
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Belfius: Setting the standard for service excellence for public-sector, business and corporate clients in Belgium
Global Finance
NOVEMBER 29, 2024
Global Finance: Can you discuss your leading role in providing cash management services for public entities? Claudia Kabbe: What sets Belfius apart in the Belgian market are our dedicated relationship managers who provide specialized solutions, such as cash advances.
The benefits of accounts payable – a finance perspective
Future CFO
JUNE 16, 2021
Organizations that adopt accounts payable (AP) automation can experience significant benefits including greater control over cash management, reduction in processing costs, fraud mitigation and improved compliance. DOWNLOAD NOW The post The benefits of accounts payable – a finance perspective appeared first on FutureCFO.
A Targeted Approach To eCommerce Firms' Biggest Banking Pains
PYMNTS
NOVEMBER 27, 2020
The first is cash management and obtaining a holistic view of finances. Understanding exactly what one's capital ranges are, closing balances each month, or whether cash management is even healthy can be difficult, he said. Third, he said, is the challenge of automation and data integration.
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118 Affirm Joins The High-Yield Savings Account Crowd
PYMNTS
JANUARY 9, 2019
Affirm , a company founded by entrepreneur Max Levchin to provide fair alternative credit, has launched a new free saving account that offers a 2 percent annual interest rate. Earlier this month, Goldman Sachs said it has boosted interest rates for Marcus savings accounts, paying online savings account customers a 2.25
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Pulling Accountants Into The Corporate Payments Innovation Fold
PYMNTS
MARCH 2, 2020
As innovators drive forward, however, they can sometimes forget who’s really at the user-end of their technologies designed to combat business payments pain: the accountant. In the current fast-moving climate, accountants have struggled with the manual processes involved with managing their business client’s funds,” he told PYMNTS. “In
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