Wed.Oct 09, 2024

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The transformative impact of AI on credit memo

Future CFO

A recently published whitepaper by Moody's looked deeper into the transformative impact of artificial intelligence on the credit memo process, including the challenges and solutions to boost efficiency in banking operations. The whitepaper, titled " Transforming Banking Operations with AI: A Detailed Look at Automated Credit Memo " delves into the current state of banking and the need of AI driven solutions as well as the role of AI in automating credit memo process.

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KPMG backs 120-credit hour alternative CPA licensure option

CFO Dive

Paul Knopp, KPMG U.S. Chair and CEO, called the deepening accounting talent shortage “a brewing crisis” that needs to be addressed in the “near term.

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ATM: Valuation is an Exercise in Faith with Aswath Damodaran

Barry Ritholtz

 ATM: Valuation is an exercise in faith with Aswath Damodaran. (October 9, 2024) Do you understand the difference between price and value? How much faith do you have that any stock or market will eventually return to its intrinsic value? Full transcript below. ~~~ About this week’s guest: Professor Aswath Damodaran of NYU Stern School of Business is known as the Dean of Valuation.

Valuation 130
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Election delays some M&A deals: report

CFO Dive

Most dealmakers are concerned about the potential impact of upcoming elections, the research found.

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Profit in the Details: Rethinking Spend for Monumental Impact

Speaker: Aaron Berson

Managing spend is more than a cost cutting exercise – it's a pathway to smarter decisions that unlock efficiency and drive growth. By understanding and refining the spending process, financial leaders can empower their organizations to achieve more with less. Explore the art of balancing financial control with operational growth. From uncovering hidden inefficiencies to designing workflows that scale your business, we’ll share strategies to align your organization’s spending with its strategic g

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Tupperware, Avon Lose Out To New Marketing Maestros

Global Finance

The recent bankruptcy declarations by Tupperware and Avon Products (API) demonstrate the weakness of a direct-seller model. Tupperware, the plastic containers maker, filed for bankruptcy in September. That came just one month after API, the US-based nonoperational holding company of Avon beauty brands, filed to restructure its debt due to previous and ongoing litigation regarding talc contamination in its products.

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Standard Chartered Utilizes AI-Based Talent Marketplace

Global Finance

Standard Chartered is using an artificial intelligence-based Talent Marketplace, developed by New York-headquartered Gloat, to match employees’ skills with project-specific internal gigs. Using a “skills passport,” employees can apply for projects, enhancing their skills and unlocking opportunities to participate in more internal roles. Following an initial 12,000-person pilot in India, which resulted in the biggest increase of year-on-year career satisfaction, it has been used by 39,000 employe

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Cultivating Organisational Success Through Effective Leadership

CFO Talks

Cultivating Organisational Success Through Effective Leadership Leadership plays a critical role in driving the success of any organisation, especially when navigating the complexities of today’s fast-paced business world. As a CFO in South Africa, you’re not only responsible for financial oversight but also for shaping the culture and direction of your company.

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Gifting Without The Headache: Tax-Efficient Strategies To Stay Under Gift Reporting Limits

Nerd's Eye View

Gifting is a common planning topic discussed between advisors and clients – often raising questions about which gifts are taxable, need to be reported to the IRS, or may be exempt from reporting altogether. The rules around gifting are nuanced and can create confusion for clients, but advisors with a clear understanding of gifting strategies can guide them toward informed decisions.

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Africa: Remittance Startup Targets Fees

Global Finance

Benjamin Fernandes’ goal for the fintech startup he launched in 2018, NALA, was to speed up money transfers within his native Tanzania. It now operates in nearly a dozen African countries, providing African ex-pats working in the US and 20 European countries with a more affordable way to send money home. Last year alone, those outside Africa spent $8 billion in transfer fees.

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Navigating Bleisure Travel: A Guide for Mid-Sized Companies

Bleisure travel — where employees combine work and leisure — has been around since the advent of corporate travel and is here to stay. Successful bleisure policies strike a balance between employee preferences and company goals — workers report a 64% improvement in work-life balance, while companies benefit from reduced travel costs and increased workforce innovation.

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Remembering Ratan Tata’s legacy

CFO News

Ratan Tata’s vision, compassion, and relentless pursuit of excellence have left an indelible mark on India and the world. While India is growing leaps and bounds, India Inc. will miss the absence of Ratan Tata, who built the foundation. Here is a quick overview of his life and achievements.

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FinOps initiatives grow in importance, study finds

Future CFO

Financial operations (FinOps) initiatives are growing in importance amid the DevOps trend toward continuous integration and continuous delivery (CICD) of modern application architectures, according to data and analytics company GlobalData. In a press release, GlobalData says the practice of FinOps represents a relatively new operational framework and initiative growing in recognition among enterprises undergoing digital transformations by migrating applications to the cloud and/or creating clo

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Ratan Tata passes away, an era ends

CFO News

The greatest leader of India and the most famous businessman of India Inc, Ratan Tata has passed away at the age of 86. He was admitted to a Mumbai hospital couple of days back. Tata Group Chairman N Chandrasekaran has issued a statement.

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Taiwan: Mergers And Hostile Takeovers

Global Finance

CTBC Financial Holding’s bid to acquire smaller peer Shin Kong, which aimed to create Taiwan’s largest financial conglomerate and a regional competitor to firms like Hong Kong’s Standard Chartered Bank, Japan’s Nomura Holdings and Singapore’s United Overseas Bank, came to a sudden halt in September. The island’s Financial Supervisory Commission (FSC) rejected the hostile takeover, stating that the plan lacked details, would lead to volatility in the firms’ share prices and, ultimately, sharehold

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The Growth Architect: How Financial Leaders are Unlocking Potential

Speaker: Ashley Harlan, MBA

What if your role as a fractional CFO went beyond operational support to actively shaping the future of your clients’ businesses? 💼 ✨ In this session, discover how fractional finance professionals can position themselves as architects of growth, guiding their clients toward sustainable success and preparing them for full-time financial leadership.

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Sebi outlines specific due diligence of investors, investments of AIFs

CFO News

Sebi has instructed Alternative Investment Funds to carry out due diligence on investors and investments to ensure compliance with laws and prevent illegal activities. This includes special checks for investments from countries bordering India and contributions over 50 percent. AIFs must report the status of existing investments by April 7, 2025.

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The Dual Purposes of Accounting and Fundraising Software

The Charity CFO

Modern nonprofit leaders are always looking for ways to use technology to make everyday tasks easier. One of the most sought-after tools is a platform or software to integrate your fundraising and accounting data seamlessly. So why does it seem so hard to find this unicorn platform? The short answer: these two datasets serve different purposes. This makes it challenging to create technology that tracks data for fundraising purposes while still following accounting principles.

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Over 34.84 lakh IT audit reports filed on e-filing portal up to Oct 7: Finmin

CFO News

The finance ministry reported over 34.84 lakh audit reports, including approximately 34.09 lakh Tax Audit Reports (TARs), were filed for AY 2024-25 by October 7. This marks a 4.8% increase from the previous year. Extensive outreach and helpdesk support facilitated taxpayers in timely compliance, with the helpdesk handling 1.23 lakh queries during September and October.

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Navigating the Complexities of Tax Compliance for Financial Services

CFO Plans

As businesses expand, especially within the financial services sector, the intricacies of tax compliance can become a formidable challenge. The stakes are high, with severe repercussions for non-compliance, but these challenges also present immense opportunities for optimization. To thrive in this environment, companies must adopt strategic approaches that not only ensure compliance but also enhance their financial health.

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2025 Payroll Calendar Templates (Biweekly, Semi-Monthly, and Monthly)

Use these handy calendar templates to stay on top of payroll in 2025! Download them today to share with your HR team or post for employees. Whether your company has biweekly, semi-monthly, or monthly pay periods, Paycor has you covered. Get your templates today!

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Top CFOs say RBI’s stance shift to ‘neutral’ provides clarity, to continue with strong capex plans

CFO News

Finance honchos reacted positively to the RBI's decision to maintain the repo rate at 6.5%, viewing it as a stabilising force for investments and capital expenditure amid global uncertainties, while expressing optimism for potential future rate cuts.

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Microsoft Taps Nuclear Power To Fuel Growing AI Demand

Global Finance

Microsoft is giving nuclear plant Three Mile Island a second chance to produce electricity. Until now, Three Mile Island was known for its partial nuclear meltdown in 1979, but years later, nuclear power is perceived differently. It is seen as producing clean energy because it doesn’t emit greenhouse gases, and demand is high from tech giants eager to feed their data centers, such as Microsoft, Google, Meta Platforms and Amazon Web Services.

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India loses its precious 'Ratan': A timeline of the business tycoon's life

CFO News

Ratan Tata, the visionary business leader and philanthropist, left an indelible mark on India's corporate landscape. Here's a glimpse into the remarkable life and achievements of the titan, whose legacy will continue to inspire generations.

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Instant Satisfaction

Global Finance

Bank partnerships proliferate as the quest to deliver real-time payments intensifies. But with added speed comes added risk. Why settle for slow? When it comes to processing payments, it’s better for a bank to be “always on,” says Debopama Sen, Citi Services’ head of Payments in the Treasury and Trade Solutions business. Big banks, like Citi, are jockeying to be their clients’ single “port of call” when it comes to transacting.

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From Start to Scale: Driving Growth Through Seamless Payments Implementation

Speaker: Michael Veatch, Senior Director, Implementations & Ella Aguirre, Director of Solution Consulting

Embedding payments can be a transformative step for software companies looking to enhance their platform capabilities, boost customer satisfaction, and drive long-term growth. However, the success of payments hinges on a single thing: implementation. Drawing on real-world insights and experiences, payments implementation experts Michael Veatch and Ella Aguirre will explore actionable strategies that can lead to a transparent, friction-free launch and mitigate potential challenges like technical

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Mukesh Ambani pays tribute to Ratan Tata, says a great loss for India

CFO News

Mukesh Ambani says Ratan Tata's absence is a monumental loss for India. He recalled Tata’s visionary leadership and enduring influence on the nation and its values.

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C-suites say both Trump and Harris would hurt U.S. competitiveness: PwC

CFO Dive

The hard-to-predict outcome from the Nov. 5 election has compelled CFOs to scale back business expectations and forgo investment, recent surveys show.

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Allcargo’s ECU Worldwide names Stephen Dunn as Global Finance Director

CFO News

​​Stephen Dunn will lead the company's global finance operations and head the transformation of its financial processes to support the next phase of business growth. He will be based at ECU Worldwide’s office in Dubai.

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India regulatory reform could hasten homecoming of IPO-bound startups

CFO News

India's removal of the National Company Law Tribunal approval for reverse flip mergers is accelerating the return of Indian startups domiciled abroad. This change has reduced the process time significantly, encouraging companies like Razorpay and KreditBee to return in anticipation of better IPO prospects in India's flourishing market.

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Less Stress, More Success: Accounting Best Practices & Processes for 2025

Speaker: Duke Heninger, Partner and Fractional CFO at Ampleo & Creator of CFO System

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Duke Heninger, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.