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Scandal-plagued German FinTech pioneer Wirecard counted among its payments processing clients an online casino that laundered money for an arm of “one of Europe’s most dangerous mafia organizations,” the Financial Times reported on Monday (August 3). The paper cited documents and “Italian legal sources” in its story about the organized crime syndicate ’Ndrangheta and CenturionBet, an online gaming company based in Malta.
The SaaS revenue cycle all starts with bookings. But what is a booking? And how does a booking differ from invoicing and revenue? SaaS is full of metrics, but in this case, we are mixing SaaS and accounting terminology to make things even more confusing. In this post, I will explain the differences among a […]. The post Bookings vs Invoicing vs Revenue | The SaaS Revenue Cycle Explained appeared first on The SaaS CFO.
It’s More than Just Side-Eyeing the Competition. Competition analyses are commonly overlooked at first view. We promise - they’re important! That’s part of why they’re a noted part of our service packages. Knowing your competition is more than being the candy company stalking the Willy Wonka Chocolate Factory gates. Rather, the modern version of competition analysis is 100% ethical, and it can be a tool for both parties!
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.
Companies that have filed for Chapter 11 bankruptcy are using the court protection to end long-term lease agreements early and close thousands of stores, reported Bloomberg. The news site named Neiman Marcus Group Inc, Brooks Brothers Group Inc, J.C. Penney Co., J. Crew Group Inc. and the owner of Ann Taylor as companies looking to use this protection to avoid lease renegotiations and even back out of rent obligations altogether.
I am excited to announce the corporate partnership of CFO Plans with Brex. All of our new and existing clients will benefit in multiple ways. CFO Plans is known for managing the entire back-office accounting operations for mid-sized companies with the highest quality, and I believe this partnership is another step forward in delivering what we are known for.
I am excited to announce the corporate partnership of CFO Plans with Brex. All of our new and existing clients will benefit in multiple ways. CFO Plans is known for managing the entire back-office accounting operations for mid-sized companies with the highest quality, and I believe this partnership is another step forward in delivering what we are known for.
In response to COVID-19, SARS has re-designed the 2020 tax filing requirements for individuals. Some material changes have been made to simplify the process and remove the need to visit SARS branches in an aim to become more efficient and observe social distancing. Through the increased use of third-party data, SARS will be completing your tax return for you.
The past several years have been good times for digital banking players popping up to challenge traditional brick-and-mortar financial institutions for market share, but recent months have accelerated that trend into overdrive. Consumers worldwide are realigning their entire lives around digital — and looking for financial services providers to meet their new, emerging lifestyles.
By Fizal Meera, Associate Controller – CFO Plans. (Note: This article is meant for non-accounting business professionals with minimal or no accounting knowledge). You may have heard of prepaid income or perhaps unearned income. Well, It’s all identical. They are just alternative ways of naming deferred revenue. Software subscriptions are the survival tool of any SaaS business.
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.
Planful is full of FP&A professionals, from our product and sales teams to our services and implementation teams, and, of course, our finance team. Planful was built this way so we’re always talking to our customers in the language of finance. We’ve been in your same roles, and many of us know, first hand, the challenges you face everyday. . I’m a good example of that approach.
The great digital shift, along with the pandemic, has brought all manner of activities into the virtual realm — most notably, of course, commerce itself. To that end, as Coinstar CEO Jim Gaherity told PYMNTS, the stage is becoming increasingly set for currency — the literal cold, hard stuff of bills and coins — to be rendered in bits and bytes. The evolution — beyond sorting coins stored in proverbial piggy banks and coffee cans and toward bill pay and commerce, all in a self-service environment
I am excited to announce the corporate partnership of CFO Plans with Brex. All of our new and existing clients will benefit in multiple ways. CFO Plans is known for managing the entire back-office accounting operations for mid-sized companies with the highest quality, and I believe this partnership is another step forward in delivering what we are known for. .
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.
A member survey by the Association of Chartered Certified Accounts (ACCA) Hong Kong during February 17-19, 2020, revealed that insufficient liquidity (43%) to be one of three main challenges facing enterprises. The others being employee productivity (65%) and sales decline (59%). The top three remedial measures currently taken by most of the finance departments in both Mainland China and Hong Kong are: cash flow and liquidity planning (51%); reduction of unnecessary spending and cost control (46
We had an epiphany. That’s right! We saw the star and we’re running toward it! When we developed the Adam Kay Way, we had no idea how big its impact could be on businesses. We’ve previously discussed the , McKinsey Business Impact Report , and we wanted to take a deeper dive into the McKinsey 5 Horizons. These horizons urge business leaders, especially amidst the COVID crisis, to think along these lenses in order to create actionable solutions.
Western Union (WU) reported Tuesday (Aug. 4) that while second-quarter revenues fell for much of its business, WesternUnion.com’s average monthly active customers shot up 45 percent year over year. Chief Financial Officer Raj Agrawal told PYMNTS that Q2’s digital growth was “unbelievable.”. Agrawal said the company’s digital operations have grown not just in terms of dollar amounts, but also in terms of how many new customers the pandemic has brought in.
In Greek mythology, Thrasos is the character that personifies boldness. Drop the ‘os’ and add an ‘io,’ and it’s a company that personifies the fast track to digital commerce success. Thrasio has taken its Amazon-centric business model to a high level at high-speed, snapping up some of the marketplace’s hottest sellers and creating a company that one of its investors says is “revolutionizing eCommerce.”.
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.
When it comes to B2B payments fraud, it’s not a matter of if it happens, but when. Speaking with Karen Webster in a recent interview , OnPay Solutions President and CEO Neal Anderson explained that organizations have to prepare themselves to mitigate the fraud threat, even as employees work from home. “Everybody needs to be suspicious,” he said. “Everybody should worry that this activity is happening.
The global pandemic has changed commerce fundamentally — a fact confirmed in Visa ’s new Back to Business study. To say that consumers have shifted dramatically toward digital commerce — or that small- to medium-sized businesses ( SMBs ) all over the world have been rapidly pivoting to keep up with them — is almost an understatement. According to the eight-country study, 78 percent of consumers have changed how they pay for things so as to reduce contact in their commerce.
Mobile payments penetration has historically faced a gap in Southeast Asia , Joel Neoh , founder of leading regional online-to-offline company Fave , told Karen Webster. Consumers in locales like Singapore, Malaysia and the Philippines can store payments credentials on their phones and make online purchases with no problem, but it was a different story using them in physical locations.
Although the 2008 financial crisis jolted the world economy, the financial conditions leading up to the disruption had been a long time coming. It’s perhaps the biggest economic difference between then and the current climate, in which a global pandemic thrust millions of workers in the U.S. into unemployment and fractured supply chains across the globe — all within a matter of days.
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.
Global travel may be down, and border restrictions remain in-place, but that doesn’t mean cross-border payment volumes have taken a hit. The need to purchase goods and services remains as high as ever, and increasingly, spend is occurring on an international scale. While the barriers to reaching an international consumer base are low thanks to innovations in eCommerce, online retailers and merchants still struggle to provide their global consumers with the same payments experience their do
Payments are everyday occurrences for businesses and consumers, and they have been for thousands of years. Transactions once conducted by trading pieces of gold are now accomplished through digital means, with both parties using cards, wire transfers or even smartphone apps to send or receive funds. These transactions often take hours or days to clear, however, which can result in frustration because funds are often needed as soon as possible.
People in the developed world tend to have skewed views of developing countries that they’re unlikely to ever visit — like Cambodia, according to Matthew Tippetts , co-founder and CEO of Phnom Penh-based payments platform Clik. Tippetts told Karen Webster that those from advanced countries think of Cambodia as “frontier,” “underdeveloped” or “running critically behind the rest of the world,” but that overlooks the Cambodian market’s complexity.
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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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