Fri.Aug 30, 2024

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6 Signs You Need to be Updating Legacy Software

Navigator SAP

Despite what software vendors think, there’s a balance between having the latest features and continuing to use what works even if it is an older solution. Software is a tool for getting something done and not the goal itself for most businesses. But with every piece of software that is used by a business, there does come a time when updating legacy software makes sense.

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Dollar General CFO cites inflation, cost pressures as shares slump

CFO Dive

“The customer will continue to feel financial pressure for the duration of the year,” CFO Kelly Dilts said on the company’s second quarter earnings call.

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Weekend Reading For Financial Planners (August 31–September 1)

Nerd's Eye View

Enjoy the current installment of "Weekend Reading For Financial Planners" – this week's edition kicks off with the news that a recent benchmarking study suggests that a number of RIAs are looking to move 'upmarket' and work with wealthier clients by expanding their service menu to include family office services, investment banking, and/or trust services.

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Tyson Foods appoints new CFO, replacing troubled scion

CFO Dive

John R. Tyson was suspended in June following his second drunk driving incident since taking the executive role in 2022.

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Automation, Evolved: Your New Playbook For Smarter Knowledge Work

Speaker: Frank Taliano

Document-heavy workflows slow down productivity, bury institutional knowledge, and drain resources. But with the right AI implementation, these inefficiencies become opportunities for transformation. So how do you identify where to start and how to succeed? Learn how to develop a clear, practical roadmap for leveraging AI to streamline processes, automate knowledge work, and unlock real operational gains.

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Big companies see shortage in skilled talent a risk to growth plans

CFO News

Indian conglomerates face a significant talent shortage which could impact expansion plans and growth. Key sectors like automobile, health, real estate, and construction are the worst hit. Companies like Tata Motors and L&T are investing in training programs to bridge the skill gap and equip their workforce with new-age skills.

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How Tech-Enabled Accounting Tools Impact Efficiency

CFO Plans

Leveraging technology to streamline accounting processes is no longer a luxury but a necessity. This is especially true in the real estate industry, where managing finances can be complex and time-consuming. Discover how tech-enabled tools can transform your real estate accounting. The Challenges of Real Estate Accounting Real estate accounting is multifaceted, involving everything from property management to investment analysis.

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CPAs eyeing the CFO seat must hone tech, ‘soft’ skills: PICPA

CFO Dive

Emotional intelligence is a key skill CPAs aspiring to be finance chiefs need, PICPA’s Jen Cryder said. Its importance is sometimes overlooked.

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CFOs empowering their teams in the Finance 4.0 era

CFO News

In a transformative era for finance, Deena Jacob, Cofounder & CFO of OPEN Financial Technologies, explores how Finance 4.0 technologies are reshaping the industry and redefining leadership for modern CFOs.

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Finance Ministry adds four new navratnas

CFO News

Finance minister Nirmala Sitharaman has given the navratna status to four more state-owned public enterprises - Satluj Jal Vidyut Nigam Ltd, Solar Energy Corporation of India Ltd, Railtel Corporation of India Ltd and National Hydroelectric Power Corporation Ltd.

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Data Talks, CFOs Listen: Why Analytics Is The Key To Better Spend Management

Speaker: Claire Grosjean

Finance teams are drowning in data—but is it actually helping them spend smarter? Without the right approach, excess spending, inefficiencies, and missed opportunities continue to drain profitability. While analytics offers powerful insights, financial intelligence requires more than just numbers—it takes the right blend of automation, strategy, and human expertise.

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Sebi revises criteria for stocks' entry and exit in derivatives segment

CFO News

Under the new rules, the regulator has raised the median quarter sigma order size (MQSOS) over the previous six months on a rolling basis by three times to Rs 75 lakh from the existing Rs 25 lakh, citing that the average market turnover is now over 3.5 times the figure during the last review.

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Growth momentum strong; slowdown in first quarter anticipated due to elections: CEA Nageswaran

CFO News

Due to the seven-phase Lok Sabha elections, Chief Economic Advisor V. Anantha Nageswaran noted that GDP growth momentum stayed robust, explaining that the slowdown observed in the first quarter was expected because of the electoral process.

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After CCI, NCLT Mumbai clears merger deal between Viacom18 and Star India

CFO News

The Mumbai bench of NCLT has approved the merger of RIL's Viacom 18 and The Walt Disney's Star India, creating the largest media house in India. This follows the Competition Commission of India's approval. Reliance will hold a 63.16% stake, while Walt Disney will hold 36.84%. The venture will include two leading OTT platforms and 120 TV channels.

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RBI imposes Rs 2.68 cr penalty on UCO Bank

CFO News

The Reserve Bank of India has levied penalties on two banks: Rs 2.68 crore on UCO Bank for violating rules on current accounts, interest on deposits, and fraud classification, and Rs 2.1 lakh on Cent Bank Home Finance Ltd for not complying with KYC regulations. These penalties underline regulatory compliance without affecting the validity of customer transactions.

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What Your Financial Statements Are Telling You—And How to Listen!

Speaker: David Worrell, CFO, Author & Speaker

Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.

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UK based Aviva conspired to dodge India compensation and tax rules

CFO News

An Indian tax investigation has revealed that British insurer Aviva breached commission regulations by using fake invoices and untracked cash payments. Between 2017 and 2023, Aviva's India business paid $26 million to entities claiming to provide services but were actually fronts for funneling money to sales agents, evading $5.2 million in taxes.

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BPCL to invest Rs 75,000 crore in expanding refining capacity

CFO News

India’s booming economy is driving a significant increase in energy demand. Petroleum product consumption is expected to rise steadily by 4-5 per cent annually for the foreseeable future. Similarly, the demand for major petrochemical products is also expected to rise by 7-8 per cent annually.

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Listed Indian firms post resilient sales growth in Q1, shows RBI data

CFO News

While manufacturing, IT, and non-IT services showed positive growth, certain sub-sectors like cement and steel faced challenges, impacting their overall performance.

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India's GDP growth drops to 15-month low of 6.7% in Q1FY25 amid sectoral shifts and strong secondary sector performance

CFO News

India's GDP growth slipped to a 15-month low of 6.7 per cent in the April-June quarter, with sector-specific slowdowns and robust secondary sector performance highlighting key economic shifts.

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Forecasting Failures Are Costly: Heres How To Fix Them

Speaker: Dave Sackett

Traditional budgeting and forecasting methods can no longer keep pace with today’s rapidly evolving business environment. Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty. To stay ahead, finance leaders must leverage a future-forward approach—one that leverages real-time data, predictive analytics, and continuous planning to drive smarter financial decisions.

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India's fiscal deficit at 17.2% of FY25 target as of July

CFO News

India's fiscal deficit in the first four months of FY25 reached 17.2% of the annual target, a decrease from 33.9% a year earlier. The government recorded net tax receipts of 7.15 trillion rupees and expenditure of 13 trillion rupees, while capital expenditure stood at 2.61 trillion rupees.

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India's core sector grows at 6.1 per cent in July

CFO News

India's core sector output grew by 6.1 per cent in July, down from 8.5 per cent a year ago. Growth was seen in steel, electricity, coal, refinery products, cement, and fertilizers. However, crude oil and natural gas production declined. The cumulative growth from April to July 2024 stood at 6.1 per cent compared to last year.

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The essential role of Audit Committees in promoting governance in startups

CFO News

As the Indian startup ecosystem expands, strong corporate governance becomes crucial. Sandip Khetan and Sagar Lakhani of Uniqus Consultech explore how audit committees can enhance governance and drive sustainable growth.