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In a case that highlights how anybody — truly, anybody — can be a victim of invoice fraud, federal officials have reportedly charged two brothers in New York State for an alleged $19 million scam targeting Amazon. The eCommerce conglomerate issued a press release late last week announcing its cooperation in the investigation and prosecution of the individuals charged by the United States Attorney's Office for the Southern District of New York.
The 2020.3 version of Jedox software enables anyone building applications in Jedox to design an interactive experience for end-users with ease. And the all-new, hyper-flexible Jedox Lists take ad hoc reporting and analysis to another level.
The Secret to Our Success. Usually, spilling business secrets is typically a major “no no." In our case, our best kept secret is hidden in plain sight! Industrial organizational theorists have used the bones of the Adam Kae way for decades. We just gave some of these steps cooler names. Why are we telling you this? Our goal is to help you: Find solutions to complex financial problems.
Nonprofit organizations are struggling, and it is as simple as that. The financial and staffing challenges often seem insurmountable. According to a recent article by Nonprofit Quarterly, … many organizations, […]. The post Nonprofit organizations face challenges. We offer solutions. appeared first on Capital CFO.
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.
Tens of thousands of stolen Fortnite accounts are being sold on the black market in a $1 billion a year trade, according to Bloomberg. The news outlet cited a report from Night Lion Security , which looks into companies' vulnerable points. It found that criminals are using automated tools to mass-check for Fortnite accounts from hordes of stolen identities from recent data breaches.
The six-capital framework would help the finance function to become a business partner that makes a contribution to the evaluation of an organisation’s performance against its purpose, said PwC recently when releasing findings of joint survey done with ACCA in a report. According to the report, the six capitals are: financial capital, manufactured capital, intellectual capital, human capital, social and responsible capital, and natural capital.
The six-capital framework would help the finance function to become a business partner that makes a contribution to the evaluation of an organisation’s performance against its purpose, said PwC recently when releasing findings of joint survey done with ACCA in a report. According to the report, the six capitals are: financial capital, manufactured capital, intellectual capital, human capital, social and responsible capital, and natural capital.
U.S. and Canadian banks are all but certain to cut personnel costs as the COVID-19 shock gives way to more long-term economic problems, even though the CEOs of some banks pledged this past spring to not lay off employees, per sources as reported by Reuters on Friday (Aug. 28). Industry experts cited by Reuters attribute their predictions to factors including low interest rates, credit problems among potential borrowers and efficiencies generated by work-from-home programs.
Goldman Sachs is pondering a $2 billion venture and growth fund that could boost its stature in the world of technology investing, sources told Bloomberg. The amount of the fund being $2 billion would make it one of the largest in the field, Bloomberg reported. It could help Goldman Sachs court bigger investors and investments. SoftBank 's Vision Fund has $100 billion, but otherwise, not many firms have investment funds in the billions.
MGM Resorts International CEO William Hornbuckle delivered bad news to his 18,000 furloughed U.S. employees on Friday (Aug. 28): They will not be invited back to work. The Wall Street Journal reports that the layoffs represent 25 percent of the company’s pre-COVID workforce of 68,000, as the global travel slowdown continues to hurt the casino industry’s recovery from COVID-19.
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.
Trimble has announced new upgrades for its TMT Service Center and TMT Fleet Maintenance solutions, including faster payment options and more visibility, according to a press release. Renaldo Adler , industry principal of asset management for Trimble Transportation, said the new ideas are intended to bolster services for the new COVID-19-based environment for businesses.
Some major New York City retail properties — including the shopping center at Hudson Yards — are only producing 50 percent of pre-pandemic rent, the CEO of major Big Apple landlord Related Cos. said Thursday (Aug. 27), according to CNBC. "Retail is obvious struggling," Jeff Blau said on CNBC's "Squawk Box." "We expect that will pick up post [re]opening.".
While a judge may not settle the dispute between Apple and Epic Games for months, the computer giant pulled the Fortnite maker’s games from the App Store on Friday (Aug. 28), 9to5Mac reported. Epic emailed its Fortnite players that the iOS and Mac versions of the game are blocked from receiving updates. The move comes amid a pending lawsuit against Apple by Epic.
Businesses and consumers alike are increasingly tapping new digital offerings for their financial needs as the ongoing COVID-19 pandemic shifts banking practices. Financial institutions (FIs) worldwide are searching for solutions that can help them swiftly support customers, but this means many are becoming more aware of their legacy systems’ inadequacies.
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.
Not unlike squirrels storing nuts for winter, some companies saw the resilience of digital channels long before the cold weather arrived earlier this year, carrying COVID-19 and assorted ills with it. Take restaurant success story Chipotle Mexican Grill , the fast-casual giant whose Q2 financials show the line of demarcation between an analog past and a very definite digital-first future.
Large, well-established companies were once seen as relatively insulated from disruptions wrought by Amazon, Netflix and other Silicon Valley giants. This was a doubtful proposition to begin with, but the COVID-19 pandemic has shaken such assumptions to the core, for companies both large and small. Corporates cannot expect to weather the economic and social changes taking place by virtue of their market clout and mastery of traditional supply chains and distribution channels.
In the era of COVID-19, as the world is awaiting a vaccine that will formally bring the pandemic to a close worldwide and consign it to the realm of the ill-remembered past, a lot of traditions are looking to make their virtual/digital debuts. Everything from parades to trick-or-treating to Black Friday doorbusters to Santa Claus himself are getting a virtual makeover to make them safer and more socially distanced.
Almost a third of renters in single-family or small multifamily properties couldn't make their August rent, according to CNBC , citing a survey by Avail , a tech and marketing platform for small landlords. The main reasons, the survey showed, were the same as they have been for months: the pandemic has left them without jobs or with reduced income. Missed rent payments have soared, rising 93 percent between March and May of this year as the pandemic wiped out jobs and kept people in their houses
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 pandemic has fueled the need for European banks to restructure following years of poor performance. The Wall Street Journal (WSJ) reports a majority of Europe's biggest financial institutions (FIs) are ending old business models, trimming unprofitable business lines, boosting profitable ones and finding a formula that works. For example, based on weak returns, the newspaper reports HSBC is planning to trim 15 percent of its workforce.
It’s the end of another week and the end of a busy month. The PYMNTS Weekender is here to catch you up on the latest payments and commerce news. We have deep dives on retail’s digital D2C shift, blank-check companies, and DoorDash’s IPO plans. Top News. DoorDash Moves Ahead With Q4 IPO Plans. DoorDash , the San Francisco-based prepared food delivery service, is planning to go public by year’s end, after filing confidentially in February.
Google 's cloud division is investing $100 million in Amwell , a telehealth operator preparing to go public, according to CNBC. The investment will come with Amwell transitioning some parts of its business away from Amazon Web Services and onto Google Cloud. Amwell will use Google as its "preferred global cloud partner," according to CNBC, and will move some of its video performance capabilities to Google.
Call it a case of death by a thousand cuts. Job cuts. And cutting loose operations. And cost cuts. What will be left of Wirecard Card Solutions? What will be left of Wirecard? The company said this week that it would sell its United Kingdom operations to Railbank. Though the terms of the agreement were not disclosed, the pact seems far-reaching in scope.
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
Today's modern, digital-first corporate has procurement expectations far beyond what the average business would have had only about five years ago. Like so many other areas of the enterprise, initiatives to optimize procurement activity have only taken greater precedence in the midst of the global pandemic. As a high-spend business function, procurement is embracing the opportunity of data analytics to understand spending patterns and identify potential areas to cut costs.
Uber Health made big news this past week with the announcement that it was scaling up its delivery services to include pharmaceutical products in some locales. That’s a major new add-on for Uber Health, which the ride-hailing firm launched in 2018 to provide patients with transportation to and from medical appointments. "With COVID-19 cases still on the rise across the U.S., getting to a pharmacy to pick up prescriptions can be challenging for many and nearly impossible for some," Uber said in a
Freshly , which works in manufacturing fresh, prepared meals for the U.S., introduced a new B2B platform, Freshly for Business , which is centered around feeding company teams in any place, according to a press release published by Food Industry Executive. In 2020, Freshly is set to deliver 50 million meals to over 200,000 zip codes in the country, which the release stated will be a lifeline during the current pandemic.
Commonwealth Bank of Australia (CBA) has introduced a new digital service that expedites the distribution of pandemic-related loans, allowing small- to medium-sized businesses (SMBs) to access money "within minutes," according to a report from News.com.au. With the bank's new BizExpress Online, existing SMB customers can apply for loans of up to $50,000 through the bank's NetBank and CommBank apps.
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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