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As the shift from paper to digital has accelerated the transformation of many a legacy business with aging tech, CEO Woodrow Levin of Extend says it’s important to add extended warranties to that list. Merchants used to have a tiny conversion rate when offering customers extended warranties by paper, and that only got a little better when they switched to POS systems.
For many organizations, the onset of the global health crisis has been like a bank of fog rapidly and unexpectedly engulfing a ship at sea. Suddenly your tried and true navigational skills and processes and the way you have always assessed risks and opportunities has been taken away from you. You must rely on new ways to pilot the ship to a safe port.
And just like that, we’ve officially wrapped DigitalCPX 2020! We had a blast working with our customers, partners, and community to make this event a success and are grateful to all involved. Our second week of DigitalCPX included thought-provoking keynotes, insightful conversations with our solutions leads and customers, and the announcement of new technology and […].
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.
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. 21 landmark announcement that allowed national banks and federal savings associations to hold certain crypto assets for the first time.
If you’re confident rolling forecasts would be a useful tool to add to your organization’s existing FP&A toolbox, check out our five tips for implementation. If you have not yet read our previous posts, these questions will help: How big is the gap between your actuals and plan data at the end of the year? Quite large, but you don’t know why? Rolling Forecasts can be used to find out why.
If you’re confident rolling forecasts would be a useful tool to add to your organization’s existing FP&A toolbox, check out our five tips for implementation. If you have not yet read our previous posts, these questions will help: How big is the gap between your actuals and plan data at the end of the year? Quite large, but you don’t know why? Rolling Forecasts can be used to find out why.
The profit and loss statement (or P&L in accounting jargon) is arguably the central management statement for most SMEs, recording the majority of operational activities over any period of time, usually monthly. Ranging from the total revenue received to all the expenses incurred by the business over the period, the P&L is a treasure trove of information for any business owner.
In a time of increasing change for retailers and consumers, the current global climate has begun accelerating the future of retail trends at a much quicker pace than previously envisioned. However, one thing still rings true: Consumers need a reason to change ingrained behaviors. Helena Mao , vice president of global product strategy for payments at Blackhawk , spoke to PYMNTS, explaining why many consumers were slower to adopt the rollout of mobile wallets and payment methods in places like the
We have been talking about Digital Transformation in Finance for ages. Some have come far on the journey while others are still struggling. Having just gone through a global crisis that saw everyone working remotely and using digital tools makes this transformation more relevant than ever. Right now, we are looking at two almost extreme cases: On one hand, we are at a stage where the transformation can be completed because of all the tools are readily available.
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.
Your business budget puts you in control of your company. It helps you avoid overspending and track financial goals. But with the coronavirus in full swing, you may have had to throw your business budget out the window to stay afloat. To get your business budget back on track post-coronavirus, you might need to make some modifications. Business owners across the country halted operations and saw a decrease in cash flow thanks to the coronavirus.
It’s been three years since The Clearing House rolled out its Real-Time Payments (RTP) network, but Mark Ranta, payments practice lead at Alacriti, tells PYMNTS that 2021 will be the year FIs migrate to the technology in record numbers. Only if, he says, there’s better alignment between the bank bill-pay model and the biller-direct model. Here’s why. .
The amount of change that the average employee can absorb without becoming fatigued in 2020 has been cut in half compared to 2019, said Gartner recently. Amid worries about the economy, job security, their health and the health of their loved ones, employees’ capacity to take on change in the workplace has plunged significantly, the advisory firm noted.
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.
By Casey Gillam – Sales Manager at CFO Plans Inc. Every company has a story. An idea that started in someone’s head, a vision that gained momentum, an answer to a need, a path to execution. They have a life of their own with a birth, an education, periods of growth and decline, and, for some so far, a death. And the individuals running companies contribute to that story with their dedication to the craft, daily decision-making and long-term strategies, perseverance through the tough times, the a
Emergencies do happen, and while they may range in scale and scope, business leaders and individuals alike are caught off guard in the chaos. The scary fact is that whether an incident is natural or human-caused, if you’re unprepared, your business and even personal well-being could suffer. An emergency fund is money set aside as a cash reserve for your business.
With the current state of economic upheaval, the ongoing pandemic and the great digital shift, corporates and financial institutions are racing to digitize and modernize payment flows and back-end processes. But the transition is one that must consider, and maybe even embrace, several emerging options and payment rails in a bid to move data and money more quickly across borders, and move, decisively, away from paper checks.
Blockchain technology has the potential to boost global GDP by US$1.76 trillion over the next decade, PwC said recently. Through analysis of the top five uses of blockchain , ranked by their potential to generate economic value, a recent report by PwC gauges the technology’s potential to create value across industry, from healthcare, government and public services, to manufacturing, finance, logistics and retail, the auditing and consulting firm noted.
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.
European Union (EU) regulators are drawing up a list of up to 20 large internet companies, possibly including Facebook and Apple, to be targeted with far more strict regulations in the future to limit their market power, according to a report from the Financial Times (FT). Large platforms on the list will have to deal with the tougher regulations as opposed to smaller companies, such as new rules forcing them to share data and offer transparency on how they gather information, sources told FT.
“The Crypto Cruise Ship” is getting ready to depart from the Mediterranean and anchor in the Gulf of Panama, according to an announcement. The “MS Satoshi,” as the ship is to be named, is 804 feet and was bought rom a cruise ship company, according to the announcement. It will function as a “gathering place” for those interested in digital currencies or those who start businesses in addition to researchers, expats and digital nomads.
Like the plot of a science fiction film, the COVID global pandemic has forced the planet to futurize fast, and nowhere more so than in how we pay for the things we need to live (and the things we want). Digging into a captivating worldwide case study on economics meeting chaos theory and what happens when it does, How We Will Pay , a PYMNTS and Visa collaboration, gauges the situation 10 months into the pandemic, as connected commerce coalesces and new patterns solidify.
Dropbox is the latest company to allow employees to work permanently from home, CNBC reported. The San Francisco-based company said Tuesday (Oct. 13) that it wouldn't require employees to come into the office even after the pandemic ends. In a blog post , the company said the shift to digital work, while jarring early in the year, has proven effective for many companies since.
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
Mastercard has teamed with portable-benefits platform Stride to make it easier for gig workers to buy healthcare coverage. Jess Turner, Mastercard’s executive vice president for North America Products and Innovation, tells PYMNTS the venture is just one part of the firm’s push to help gig workers get benefits. With gig-economy participation rising and U.S. healthcare costs soaring, anything that can reduce the burden of medical expenses on the often-overlooked freelancers who are driving the dig
The country's former top cyber spy said the pandemic has created conditions that have left companies more vulnerable to cybercrime than they previously were, the Financial Times (FT) reported. Ex- National Security Agency head Michael Rogers shared the assessment prior to appearing at an event FT is hosting. Because so many employees are working remotely, Rogers told FT, "the attack surface has just exploded.".
Cambridge Global Payments , a FLEETCOR company working on cross-border payments, has partnered with enterprise blockchain solution Ripple on a cross-border payment solution for B2B customers, according to a press release. Using RippleNet, Ripple's global payment network, the partnership will take advantage of the ripe market for cross-border payments, which a July Juniper Research study said will be worth $35 trillion by 2022, the release stated.
Wells Fargo has fired over 100 employees for allegedly improperly collecting COVID-19 relief funds, according to sources quoted by Bloomberg. The staffers reportedly defrauded the Small Business Administration (SBA) by "making false representations in applying for coronavirus relief funds for themselves," according to Bloomberg. They reportedly applied for Economic Injury Disaster Loan (EIDL) funds in ways deemed fraudulent.
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.
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