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A new IRS portal for coronavirus relief payments has been launched in conjunction with the U.S. Treasury to assist people who don’t typically file taxes. . The non-filer tool can be used by U.S. citizens and resident aliens who are not claimed as dependents and had gross income below $12,200 ($24,400 for married couples) in 2019, according to the IRS site.
Times of crisis mean uncertainty, both personally and professionally. Anyone who makes “gut instinct” decisions in a hurry isn’t making decisions that are well-informed and carefully considered. For organizations of all sizes and sectors, this is particularly important for FP&A. In this blog post, we’ll look at the importance of agility in FP&A in being able to better manage uncertainties, even during uncertain times and build resilience for the future.
Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.
The coronavirus pandemic poses an unprecedented challenge to healthcare systems that will likely extend for months — and perhaps even years — to come. More than ever, hospitals and other medical facilities need to focus their resources on healing the sick and avoid getting bogged down by administrative costs and inefficiencies. This brings a longstanding challenge to the fore: Healthcare organizations have long struggled with fraud, waste and abuse (FWA), costing the United States healthcare sec
While many businesses are being forced to temporarily shut their doors in response to COVID-19, essential businesses are still functioning and keeping their doors open. Even at limited capacity, there are things your essential small business can do to ensure safety and ultimate social distancing. Read on to find 5 easy measures to implement for ultimate safety operations: 1.
While many businesses are being forced to temporarily shut their doors in response to COVID-19, essential businesses are still functioning and keeping their doors open. Even at limited capacity, there are things your essential small business can do to ensure safety and ultimate social distancing. Read on to find 5 easy measures to implement for ultimate safety operations: 1.
A Gartner survey of 317 CFOs and finance leaders on March 30, 2020, revealed that due to COVID-19 62% of respondents are planning some cuts to selling, general and administrative (SG&A) budgets in their organizations in 2020. Also, 18% are planning to cut budgets in every category by at least 10%, with marketing departments expecting to be first in line for cuts of 10% or more.
Intimidated by the scale and cost of a massive technological overhaul, large financial institutions (FIs) may approach their digital transformation (DX) journeys gradually, targeting various areas of operations to modernize one-by-one. While this strategy can yield results, it can also create silos, hampering a bank’s ability to achieve one of the most vital goals of DX: seamless integration of operations that boost efficiency and improve the end-user experience.
The COVID-19 pandemic has triggered an unprecedented wave of business closures, placing millions out of work with no telling when they will be back to business as usual. It has also exposed and exacerbated a deeper, more structural problem with the United States economy that has been looming just beneath the surface for some time: A large portion of Americans are living hand-to-mouth and have almost no savings.
In the accounting world, staying ahead means embracing the tools that allow you to work smarter, not harder. Outdated processes and disconnected systems can hold your organization back, but the right technologies can help you streamline operations, boost productivity, and improve client delivery. Dive into the strategies and innovations transforming accounting practices.
A quick recovery may be in the cards. But so might a “false start.”. Thursday morning, the U.S. Federal Reserve said that it had launched a multi-trillion dollar lending program that targets smaller businesses, and in a broadened salvo, targets local governments, too. It’s all meant to shore up the U.S. economy, as the fallout from the coronavirus continues.
A deluge of chargebacks is headed toward the payments industry, spurred by the coronavirus, as all areas of the global economy have been upended. In an interview with Karen Webster, Johan Gerber, executive vice president of cyber and security products at Mastercard , said that many companies are being inundated with disputes and cancellations, and with demands to refund consumers’ money — a trend that will branch out from travel and leisure verticals and into other segments.
For the last week, a veritable tidal wave of small- to medium-sized business (SMB) owners have been lining up to apply for Paycheck Protection Program (PPP) funds — a $350 billion segment of the $2 trillion in government stimulus passed as part of the CARES Act a little less than two weeks ago. Small business owners pushed rapidly and unexpectedly to the brink of survival are clamoring for funds; money that various federal officials promise daily will be swiftly delivered.
With a little over 600 million worldwide users, LinkedIn was a household name long before the coronavirus cut an incredibly wide trench through the global economy in general, and the world of working in particular. The social media service for professionals was already the established, favored digital hub for professional networking, job hunting, talent scouting and corporate content.
Our 2025 Center Travel Survey is clear: as corporate travel increases, so does corporate credit cards distribution, and a rise in off-platform travel booking. This 61% rise causes various challenges: compliance, spend control, reporting problems, and a lack of visibility across organizations. To evolve with the ever-changing needs of travelers, decision-makers need a better solution.
Travelex, the foreign exchange company that was crippled by hackers on New Year’s Eve, reportedly paid a $2.3 million ransom to get their systems back online, The Wall Street Journal reported. Sodinokibi, the alleged perpetrators of the cyberattack, claimed responsibility for the breach. The cybercriminals demanded $6 million in ransom with a promise that they would not release the sensitive information of Travelex customers, including birthdates and credit card numbers.
Procure-to-pay tool BuySpeed , which is used by government entities, was vulnerable to a zero-day, cross-site scripting flaw that has reportedly been resolved, SC Media reported. The CERT Coordination Center at Carnegie Mellon University’s Software Engineering Institute, which had said it was not aware of a practical solution to the bug, had published a vulnerability advisory on the bug found in version 14.5 of the product.
Amid increasing demand for contactless delivery, Starship Technologies has rolled out a robot food delivery offering in Tempe, Arizona. The firm has been increasing its commercial services, with a plan to expand to 100 colleges by late summer of next year, per reports. Ryan Tuohy, who leads Starship Technologies’ business development, said in a statement, “The demand for contactless delivery has expanded exponentially in recent weeks.
Those looking for a loan outside of the government’s Paycheck Protection Program (PPP) won’t find it from JPMorgan Chase , which has decided to focus solely on that program due to a huge amount of requests over the past few days, according to the Financial Times. The bank, which is the largest in the U.S., said it has seen over 375,000 requests from small- to medium-sized businesses (SMBs) since the $350 billion loan plan from the federal government was officially launched.
Finance teams are balancing more than ever, but manual processes shouldn’t slow you down. In this ebook from BILL, discover how AI is transforming finance—automating AP, expense tracking, and document management to reduce errors, increase efficiency, and improve financial control. Learn how real companies are using AI-powered automation to streamline workflows, detect anomalies, and gain deeper insights.
Americans could start receiving COVID-19 stimulus money from the federal government as early as Thursday (April 9) or Friday, according to reports. The first round of emergency assistance is expected to reach people who have previously provided direct deposit information to the Internal Revenue Service (IRS). That first group of payment recipients is estimated to be about 50 million to 60 million people.
JPMorgan Chase has dimmed its view of the future yet again, now saying the nation’s gross domestic product (GDP) could sink by as much as 40 percent in the second quarter due to the coronavirus pandemic, according to CNBC. That’s an increase from the already-dire 25 percent drop JPMorgan previously predicted. Unemployment, the bank said, could hit 20 percent, with a loss of 25 million jobs.
Banks are continually working to provide their business customers with more streamlined, impactful services. They previously only interacted with clients in physical branches — accepting deposits and extending loans, for example — but such interactions offered little ability to facilitate customers’ primary business activities. Payment and data application programming interfaces ( API s) are changing that, however.
Over one third of Americans didn’t pay rent by April 5, triggering fears of what could be ahead for May and beyond, according to data from a landlord advocacy group. The National Multifamily Housing Council ( NMHC ) analyzed data on Wednesday (April 8) from 13.4 million units nationwide and found that although 69 percent paid April’s rent on time, that is down from 81 percent in March, according to the group.
Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, emails, and shared drives no longer need to slow you down. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.
Small businesses overwhelmed U.S. financial institutions as they scrambled to apply for Paycheck Protection Program (PPP) loans under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. When the program went live on Friday (April 3), only two FIs, Bank of America and JPMorgan Chase, had been able to begin accepting applications — Bank of America saw a whopping $6 billion worth of applications in only a few hours, ending Friday with $32.6 billion in applications.
In an effort to provide independent truck drivers and small fleets with discounts and access to a service network, The Goodyear Tire & Rubber Company will now provide carriers that belong to Convoy’s Digital Freight Network with access to its Commercial Total Solution. This is the first time that Goodyear has offered an online discount offering via its commercial eCommerce platform at GoodyearTruckTires.com , per an announcement.
If you’ve filed for unemployment benefits and haven’t received a check yet, you’re not alone. Nearly 17 million Americans have applied for unemployment assistance in the last three weeks as the nation’s economy came to a virtual halt amid the coronavirus pandemic, and states were overwhelmed by applications, Reuters reported Friday (April 10). There was good news for unemployed workers in the $2.3 trillion stimulus bill the president signed late last month.
The rapidly evolving telehealth category has a new business model. Fruit Street – a virtual one-stop-shop specializing in digital diabetes diagnosis and treatment – has partnered with vegetarian meal kit purveyor Purple Carrot to add a retail angle to its health advisory service. “With more Americans practicing social distancing and staying home with their families during the COVID-19 pandemic, we wanted to increase access to healthy meals and nutrition advice through our telehealth platfo
Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.
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