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If you want to know how consumers feel about faster payments, talk to the millions of Americans who still have not received stimulus money as of mid- to late-May. The U.S. real-time payments void has hurt commerce, too, as PYMNTS research finds that close to 39 percent of small to mid-sized businesses (SMBs) have reduced payrolls to help relieve cash flow stress, and nearly 30 percent simply went under.
Get Cash and Credit for Business Fast Access to cash and credit for your business is crucial whether you’re in the early stages of starting a business or been in operation for years. When you have working capital, you have the ability to cover those unforeseen expenses you didn’t plan for and other costs you […]. The post 4 Ways to Get Cash and Credit For Business Fast appeared first on Business Credit.
Anaplan’s Head of Financial Services Solutions Henri Wajsblat interviewed Anaplan partner and Accenture Managing Director Anupam Mohapatra about the transformation of the distribution landscape in the insurance industry, related sales performance issues, and the benefits of the Anaplan platform to … Keys to a successful sales performance management transformation in insurance Read More »
As your SaaS business moves into growth and scale mode, you will be very focused on SaaS gross margins, EBITDA, and EBITDA margins. With this financial focus, there are two ways that I think about profitability and margins. I manage my P&L by splitting it into two distinct sections. The first section, or top half, […]. The post SaaS Operating Leverage appeared first on The SaaS CFO.
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.
After Alabama reopened on May 1, the state has seen coronavirus cases surge by 300 percent month over month, with intensive care units (ICUs) at less than 4 percent capacity remaining and medical workers “exhausted physically and mentally,” Montgomery Mayor Steven Reed said on CNBC. Reed said his region has “improved marginally,” but that it is “not enough to get us out of this crisis moment.” “We can manage it, but we can’t sustain the trend that
Is now the prime time for blockchain ? As COVID-19 has disrupted supply chains worldwide, Brian Behlendorf , executive director of Hyperledger , told Karen Webster that the pandemic has spurred a shift in thinking about new use cases for permissioned blockchains. Increasingly, firms seek accountability and visibility into suppliers, vendors and transactions in real time.
Is now the prime time for blockchain ? As COVID-19 has disrupted supply chains worldwide, Brian Behlendorf , executive director of Hyperledger , told Karen Webster that the pandemic has spurred a shift in thinking about new use cases for permissioned blockchains. Increasingly, firms seek accountability and visibility into suppliers, vendors and transactions in real time.
Credit card giant Visa has filed an application for a U.S. patent on a computer system that would convert physical dollars and other fiat currencies into digital versions, complete with denominations and serial numbers and recorded via blockchain. The system would then remove the paper currency from circulation. “According to the [details] discussed herein, the payment ecosystem may become entirely (e.g. 100 percent) digital,” Visa wrote in its application, which was originally filed with the
The road to recovery after the coronavirus pandemic is widely expected to be a winding one as businesses, consumers and officials work to figure how to restart an economy intentionally shut down roughly two months ago. It is a situation complicated by the fact that a roughly comparable event hasn’t occurred in the U.S. in over a century, meaning there is no living expert with any practical expertise at managing the fallout from an incurable pandemic.
The prospect of restarting the economy of bringing all manner of everyday life in the U.S. back to some semblance of “normal” has challenges — and opportunities for banks, especially community banks and credit unions. The challenge lies with serving the needs of the individual who may be hesitant to go back to the old ways of banking — of walking up to teller windows, of handling cash in envelopes.
Japan-based credit card and payment firm JCB has announced a partnership with tech startup accelerator TECHFUND to explore the idea of a payment system with blockchain options, the company said on Friday (May 15). It is currently unknown whether the idea will focus on public blockchain or if the idea will just use the accelerator to access entrepreneurs.
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.
Call it the great shift. We’re still navigating the pandemic — which means doing what we used to do offline, increasingly, through digital means. As PYMNTS found in a recent consumer study, 40 percent of individuals are doing more of their daily retail and transactions online, partly because, well, there’s no other way to do it. And as many as 22 percent of the population surveyed said those habits would stick.
Amazon could be in talks to acquire the bankrupt clothing retailer JCPenney , Fox Business reported, citing Women’s Wear Daily (WWD). JCPenney officially filed for bankruptcy late Friday (May 15), ending speculation as to the beleaguered former retail titan’s financial status. Now, Amazon could be moving in. One source, according to WWD as reported by Fox Business, was “in Plano as we speak,” referring to the Texas city where JCPenney is headquartered.
For all the human and business impacts caused by the global coronavirus pandemic, the crisis has also been instructive, particularly in illustrating the shortcomings in systems that worked just fine — until they didn’t. The massive and simultaneous global shift to digital has put a spotlight on traditional supply chains, antiquated paper-based processes and an aging payments infrastructure.
The stage is set for contactless payments in commerce, for plastic to remain in the wallet, and for consumers to embrace digital wallets. As workforces become more decentralized, as far-flung employees still have to pay suppliers and vendors — and perhaps even travel (someday) — the stage may be set, too, for technology to help transform the way employees spend corporate money.
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.
The government of Dubai is planning to create an $870 million free trade zone for eCommerce named Dubai CommerCity (DCC). The development project will be located next to Dubai International Airport. . The project is being developed collaboratively with two state-owned enterprises — the Dubai Airport Freezone Authority ( DAFZA ) and the property firm wasl.
The fact that grocery stores are comprehensively winning the race to keep the American consumer fed shouldn’t be too surprising, considering grocery stores are by and large still open for business, and restaurants have been forced by statute in most places to close their doors. In the world of retail sales, it’s hard to find a bigger advantage than being open in the face of everyone else’s closure.
For credit unions (CUs), the shift to digital banking is here — and depending on how you look at it, the pivot, by necessity, took only a few months. In an interview with Karen Webster, Todd Clark , CEO of CO-OP Financial Services , said the past eight weeks have spurred CUs to grapple with significant changes in member activity across every channel, and an economic landscape that has presented members with momentous challenges.
In the early days of enforced social distancing measures, there was a presiding confidence that any economic disruption would be temporary and fairly short. Analysts were nearly universally predicting a “V-shaped” U.S. recovery — a fast drop with a quick stop, then a rapid reset back to normal. End-to-end, things would recover by 2020’s end. But things are looking far less certain now in that regard.
As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R
From competitors to collaborators, the FinTech boom introduced a field of opportunity for traditional financial institutions to team up with an industry newcomer to become more agile and modern with their own product offerings. While FinTechs are, in many ways, useful allies to banks, traditional FIs can also be a critical partner to FinTechs that lack the resources or opportunity to acquire their own banking license.
The shift to digital commerce is more urgent than ever — and so are some of the potential pitfalls as fraudsters recalibrate their attacks and eye card-not-present transactions as a new way to make off with ill-gotten gains. In an interview with Karen Webster, Carleigh Jaques, senior vice president and general manager of CyberSource , a Visa solution, said commerce is now different, especially for smaller enterprises.
FinTech payments startup Nium , based in Singapore, is getting a new round of funding led by new investors Visa and BRI Ventures. Nium, formerly known as InstaReM, has closed four funding rounds totaling $59 million since it was founded in 2014. The size of this latest round was not disclosed. Prajit Nanu, chief executive officer (CEO) and co-founder of Nium, said in a statement on Wednesday (May 6) that he is “thrilled” to get the backing of “prestigious” new investors like Visa and BRI Venture
When the pandemic is over, there will be thousands of books written about the ways the coronavirus changed daily life, globally. Among those will be – or should be – a tome on how the great shift to digital commerce drove merchants to connect to multiple services. In an interview with Karen Webster, Justin Benson, CEO of Spreedly , said the shift is a critical one, requiring merchants to rethink how they approach payments and, as a result, optimize revenues.
Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.
The coronavirus has spurred a seismic shift in commerce, moving shopping into the digital realm. . Consumers are buying anything (and seemingly everything) and conducting all manner of everyday business online because that is their only option. . In an interview with Karen Webster, Scott Galit, CEO of Payoneer , said the impact will continue to be global in scope and deeply felt across all avenues of commerce — giving new rise to cross-border commerce. .
To bolster global payments for businesses throughout the world, EMQ launched its new enterprise payment technology with same-day settlement functions in local currencies throughout eight countries. The nations include China, Indonesia, India, the Philippines, Malaysia, the United Kingdom, Singapore, and Japan, according to an announcement. . The enterprise settlement technology of EMQ lets companies, banks, and other licensed financial institutions access same-day settlement with more transpa
Shopify , an eCommerce company, hosted its first virtual event for members of its global community, the Canadian firm announced Wednesday (May 20). Dubbed “Reunite,” it gave attendees a glimpse into updates and new products designed to help entrepreneurs boost profits. “This is a difficult time to be an entrepreneur — the retail landscape is shifting under our feet, and the old way of doing things no longer works,” Shopify said in a statement.
China’s Alibaba Group is putting $1.4 billion into the development of artificial intelligence (AI) for its Tmall Genie smart speaker, the company said in a statement on Wednesday (May 20) following a press conference. The upgrade and innovation centered around its flagship Tmall Genie smart speaker will use proprietary technologies that combine AI and the Internet of Things (IoT).
AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?
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