October, 2019

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5 Tips for High Quality Finance Forecasting

Jedox Finance

A high-quality business forecast delivers far more than just numbers. Done well, it provides a road map for concrete recommendations to drive the business forward. It provides valuable information on what still needs to be done by whom in order to achieve the budget goals set. Finance professionals regularly try to look in their crystal ball with forecasts and enable the company to have seamless, solid planning.

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US Banks Expected To Lose 200K Jobs To Technology

PYMNTS

In the next 10 years, as robots and other tech bring about the “greatest transfer from labour to capital” the industry has witnessed, per a report by Wells Fargo analysts, U.S. banks will slash over 200,000 jobs. Veteran Wall Street Analyst Mike Mayo noted that cuts of such magnitude would comprise over 10 percent of total bank jobs, and pave the way for a “golden age of banking efficiency,” the Financial Times reported.

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Cohort Analysis Explained for Your SaaS Business

The SaaS CFO

We all know that churn and retention are critical concepts to understand in SaaS. As customers churn each month, we track logo and dollar counts in our churn and retention reports. And we document the reasons why. This is an aggregate view of retention. Let me introduce SaaS cohort analysis. Cohort analysis is an analytical […]. The post Cohort Analysis Explained for Your SaaS Business appeared first on The SaaS CFO.

CFO 63
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How CFOs can prevent employee burnout

Future CFO

If an issue can be prevented, don’t wait till you have to fix it. The World Health Organisation re-labelled burnout as an "occupational phenomenon" this year to reflect that burnout is a work-based syndrome caused by chronic stress which leads to exhaustion, negativity towards a job, and a reduction of work performance. . In Singapore, a Cigna study found that 92% of workers are stressed, with one in eight citing unmanageable stress levels.

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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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The Sooner You Know Your Company’s Net Worth The Better

KG Virtual CFO

Why the balance sheet is the key to knowing your company’s health and value You want to scale and optimize your small business which means you must always know it’s value. The health and value of your business are quantifiable by maintaining a monthly or quarterly balance sheet. The balance sheet goes beyond your financial plan or profit and loss statement to determining your financial position.

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Payments’ Role In The Fourth Industrial Revolution

PYMNTS

To get a sense of where faster payments are headed, look to the consumer. There are dozens of faster payment schemes rooted or taking shape around the world — 54 at last count. Some of them have been mandated by governments, readying for anticipated demand. That’s a staggering leap from the 14 live faster payment schemes that existed worldwide in 2014, when FIS first released Flavors of Fast.

B2C 81
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The Push And Pull Of Real-Time Payments

PYMNTS

With real-time payments spreading throughout the world (perhaps more slowly than expected, but still spreading), the characteristics of pull payments mean they are likely to play only a marginal role. That’s the view shared by Trevor LaFleche, director of product management and marketing for Enterprise Payments Solutions at Fiserv , during a recent PYMNTS discussion that centered around the spread of real-time payments, and their global prospects going into 2020.

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How Apple Card Brings ‘Existential Crisis’ To Smaller FIs

PYMNTS

With the recent launch of the Apple Card , Apple has sent a signal that they seek to offer a better user experience than banks. In fact, their slogan for the card is “Created by Apple, Not a Bank?.” The fact that Apple is entering the space should serve as a wake-up call to banks, according to Rachna Ahlawat , co-founder and executive vice president of Ondot Systems.

Banking 79
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Vista Looks To Sell Huge Stake In Finastra FinTech

PYMNTS

Vista Equity Partners is reportedly thinking about selling a stake in London-based FinTech Finastra. Bloomberg is reporting that the sale could value Finastra at $10 billion with debt included. Vista is collaborating with Goldman Sachs to look for companies that might be interested in buying. Vista could be looking to sell as much as 50 percent of the company.

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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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Healthcare Looks To 5G For Cost Control

PYMNTS

The new 5G mobile network technology has started to make its initial foray into healthcare, and at a time when issues of cost, efficiency and accessibility are gaining even more focus than was the case before. As all that happens, potential use cases for 5G in the healthcare space are taking at least rough shape. Various deployments might take years to play out, given the bureaucracy and legacy inertia common in the massive healthcare industry.

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Deep Dive: Unsupervised Machine Learning Steps Up To Fight Fraud

PYMNTS

Many FIs and merchants that have fallen victim to fraud traditionally respond by assessing the damage, pinpointing how the attack succeeded and implementing new measures to prevent similar schemes from happening again. Some businesses are looking for solutions that will help them stop fraud from happening in the first place as criminals become increasingly creative and aggressive in their efforts to steal data and funds.

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Wearables That Read Your Mind

PYMNTS

The fact that our connected devices are getting to know us pretty well is, by now, well-known. A phone that can unlock a hotel room door. A smartwatch that can call an Uber. A connected car that can not only help the driver find the closest burger joint, but can also order ahead. A voice assistant that can add stuff to a shopping list and then order and arrange for its delivery.

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BoA Reported To Hire ‘Treasury Product Manager’ For Ripple

PYMNTS

Bank of America (BoA) may have hired a treasury product manager to work with Ripple. According to Cointelegraph , the bank recently took down a job listing about the position on LinkedIn. “This role leads the product management team for the Ripple Project, a decentralized ledger technology-based solution to cross-border payments marketed to [global transaction services (GTS)] clients,” the job listing read.

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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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Paychex Wades Into Wearables, Real-Time Payments

PYMNTS

Payroll and human resource management solution provider Paychex has unveiled a range of new solutions and services at the 2019 HR Technology Conference & Exposition event late last month. In a press release , Paychex announced support for wearable technology through the planned debut of a smartwatch app that enables employees to automatically track time worked.

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Trade Finance Gets Boost Via Banks, APIs

PYMNTS

Application program interfaces (APIs) are helping to speed Open Banking — and, by extension, bringing trade finance into the digital age. To that end, HSBC said last week that it is deploying an API designed to promote bank collaboration, with a focus on trade finance. The API, according to reports , will allow HSBC partner banks to issue local guarantees across markets — and where those banks do not have an operating presence.

Finance 76
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Bringing Autonomous Smart Shuttles To the Masses

PYMNTS

There will be 41.6 billion Internet of Things (IoT)-connected devices around the world by 2025. Consumers and businesses have increasingly employed the technology in a variety of use cases as it becomes more sophisticated, from smart cars to sensors that can be utilized for smart cities. The rise of 5G networks will also enable these devices to communicate more data across longer ranges, which is one of the reasons why investment in IoT is picking up.

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MoneyGram Expands Loyalty Program In Europe

PYMNTS

Money transfer company MoneyGram announced that it is expanding its loyalty program to customers in France, Italy, Germany and Spain. “We have seen a positive response and strong adoption rates from our loyalty program in the U.S., resulting in increased customer transaction frequency and retention rates,” Alex Holmes, MoneyGram chairman and CEO, said in a press release.

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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.

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ClassPass CEO: How Digital Platforms Have Innovated Health, Fitness

PYMNTS

Consumers are creatures of habit — but those habits can be complex, and can certainly vary according to such factors as geography, age and even fitness level. Businesses that can tap into those habits can often tap into a gold mine. However, it can be much harder than it seems, even for the smartest and most data-driven of entrepreneurs. That’s the sense one gets after listening to Fritz Lanman, CEO at ClassPass.

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FDA Warns Of Cybersecurity Risk In Healthcare Industry

PYMNTS

With “URGENT/11” possibly introducing risks for medical devices and hospital networks if exploited by a remote attacker, the U.S. Food and Drug Administration is informing patients, manufacturers and IT staff in health care facilities about the cybersecurity vulnerabilities. URGENT/11 impacts multiple operating systems that then may affect medical devices connected to a communications network in addition to other connected equipment, the agency said in a press release.

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Finastra Customers Now Have Access To RippleNet’s Blockchain Network

PYMNTS

Real-time currency exchange and remittance network Ripple has teamed up with Finastra to allow banking customers to access RippleNet , its worldwide blockchain payments network. Ripple said it will provide for more affordable, faster and more reliable payments. Users will be hosted on Ripple’s cloud solution and will be able to use On-Demand Liquidity, which will allow for the leveraging of XRP for cross-border payments. “This partnership will enable Ripple to expand the reach and solution

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Finastra Taps Ripple To Power Blockchain Payments

PYMNTS

Real-time currency exchange and remittance network Ripple has teamed up with Finastra to allow banking customers to access RippleNet , its worldwide blockchain payments network. Ripple said it will provide for more affordable, faster and more reliable payments. Users will be hosted on Ripple’s cloud solution and will be able to use On-Demand Liquidity, which will allow for the leveraging of XRP for cross-border payments. “This partnership will enable Ripple to expand the reach and solution

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Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors

Speaker: Abdi Ali, Sr. Lease Accounting Consultant

Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.

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Why Libraries Are Giving Up On Late Fees

PYMNTS

It has happened to all but the most organized among us. We’re minding our own business, cleaning out a closet or reorganizing the bookshelf, when it suddenly thrusts itself upon us. That lost library book we had almost managed to convince ourselves no longer existed. The book that became the second reason we’ve avoided going to the library since the waning days of the second Bush administration.

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Uber Buys Dubai Ride-Hailing Unicorn Careem For $3.1B

PYMNTS

Uber coughed up over $3 billion to get its hands on Dubai’s ride-hailing startup Careem, the Financial Times reported on Wednesday (Oct. 2). Founded in 2012, the ride-hailing unicorn – which is valued at over $1 billion – was the premier tech startup in the Middle East and North Africa. Uber paid $3.1 billion to take ownership. The deal is expected to close in January of 2020.

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How Crowds Can Drive Digital Economy’s Success

PYMNTS

As the digital economy grows, you can bet that crowdsourcing will become an even bigger part of innovation and disruption, along with hiring and investment — all of which will serve to help build only new companies but vital digital infrastructure. One big recent example in favor of such points comes from Goldman Sachs. A Goldman Sachs program called GS Accelerate enables Goldman employers to pitch their bosses on potential new companies, according to CNBC.

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Citi Taps Kantox For Enhanced Corporate FX

PYMNTS

Citi has recruited foreign exchange management firm Kantox to enhance its FX services for corporate clients, the companies said in a press release on Monday (Oct. 7). According to Kantox, the company will provide its FX management and business payment solutions to Citi Commercial Bank’s international businesses based in the U.S., enabling those firms to access a custom platform that integrates with Citi’s existing foreign currency payments solution.

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Back to Basics with Reconciliations

Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.