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China’s central bank, the People’s Bank of China (PBOC), said it has completed the “top-level” design of its proposed digital currency, according to reports. The PBOC released the information in a recently released paper, saying that the “top-level design, standard formulation, functional research and development” of the digital yuan coin has been completed.
If you’re reading this, you may be seeking professional financial consulting or curious about how we can help your company move toward greater financial growth. Small business has quickly become the backbone of the United States with over 58.9 million people employed in a small business according to the U.S. Small Business Administration. To put that into perspective, that’s 47.5% of the private workforce!
PwC predicts that 2020 will be a year of ‘slowbalisation’ in the global economy, where trade tensions continue to create challenges for global supply chains and further integration of the global economy. Having said that, PwC pointed out that services would remain a bright spot for global trade , with the total global value of service export forecast to hit a record US$7 trillion in 2020. .
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 central bank in China said it has accepted an American Express application to start working in the country, according to a report by Reuters. The news was released in a social media post by the official People’s Bank of China (PBOC) account on Wednesday (Jan. 8). The post did not say when Amex would start operations in the country. In November of 2018, Amex got approval to clear card payments by the PBOC , making it the first company of its kind to get access to what will become the largest
IKEA has announced it is cutting ties with Amazon, a move that other brands like Nike, Birkenstock and PopSockets have also done recently. However, according to a report by CNBC , the move could backfire, as Amazon completely dominates the online shopping market, with 38 percent under its control. The only companies that come close are eBay and Walmart , which both only control single-digit percentages of the market.
Ten years ago, the world of payments and commerce was in a very different place. ISOs sold terminals and card processing, mostly to brick-and-mortar merchants. Square was a newbie, largely written off as a wrought-with-fraud business model that would never survive and scale. The Collison brothers had founded Stripe, but it would be a year before it would be in-market.
Following anxieties that robots would replace their jobs, small business (SMB) accountants are now on a path to potentially become more strategic partners with their SMB clients. Many industry players are touting the ability to use analytics and automation technology to handle mundane, time-consuming tasks, freeing up resources for accountants to take on more advisory roles.
Burger King is letting people pay their way in Venezuela with a new bitcoin partnership that enables cryptocurrency purchases, CoinTelegraph reported on Saturday (Jan. 4). Confirmed in a Dec. 30 tweet by @cryptobuyer, a Panama-based crypto platform, there is one Burger King in the Sambil area of Caracas that accepts coin payments from bitcoin, Ether, Litecoin, Binance Coin, Dash and the stablecoin Tether.
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.
The share of listed companies in the U.S. that are losing money is nearing 40 percent, which is the highest level since the 90s outside of a recession, according to a report by The Wall Street Journal. This time, there are no recessions and stock market indexes are at near or almost record highs. Some of the industries that are losing the most money include healthcare companies (at 42 percent of the loss-making companies) and tech stocks (17 percent).
It wasn’t long ago that the measure of a car or truck revolved around such things as the punch and pull of the engine, the smoothness of the transmission, perhaps even the thump of the stereo system. Those days are not exactly gone (those types of drivers still exist, and probably always will), but the standards have certainly changed, and will continue to do so.
The development of digital identity solutions shows no signs of slowing in the new decade, with the mobile biometrics market expected to add $28.45 billion per year in incremental growth between 2018 and 2023. Facial authentication and cloud-based subscription services are particularly popular, with applications ranging from unlocking personal smartphones to providing secure access to top-secret government facilities.
To challenge hackers to find flaws in its vehicles, Tesla , the electric automaker, is returning to the Pwn2Own hacking competition run by Trend Micro ’s Zero Day Initiative (ZDI), electrek reported. Some Model 3 vehicles and approximately $1 million are said to be for the taking. “Driving off with a brand-new Model 3 will be a harder challenge this year, which means the potential rewards will be much higher as well,” ZDI said in a press release.
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.
U.S. shopping malls have reached the pinnacle of struggle, with empty shops hitting a 20-year high, the Financial Times (FT) reported on Tuesday (Jan. 7). By the end of 2019, there were more vacant stores than at any time during the past two recessions, according to Reis Moody’s Analytics. People are shopping and spending is strong, but eCommerce is getting most of the sales rather than physical stores.
When it comes to late B2B payments, there’s good news and bad news. The good news stems from the U.K., where new research has found that fewer invoices were paid late to small businesses (SMBs) in 2019 than in 2018. Among the success stories of the nation’s efforts to combat late supplier payments is construction firm Kier Construction, which, according to The Construction Index , has been reinstated to the U.K.
Israel’s technology sector had a banner year in 2019, raising $8.3 billion in 522 deals, a 30 percent growth over 2018, ZAG law firm announced Tuesday (Jan. 8). “2019 marked a record year, capping a decade of successive increases in capital invested in the Israeli high-tech industry,” said Shmulik Zysman, ZAG founding partner. “This growth is partly due to the growing foreign capital invested in the Israeli high-tech industry.”.
A typical episode of TLC’s “Say Yes To The Dress” can offer one the basic sketch of the drama that is buying a wedding dress. Though the details change somewhat episode to episode, the story pretty much always follows the same arc: The bridal party enters, the bride explains her vision, dresses are tried on, fights break out, bitter tears are shed, the right dress is found, the price tag is seen, more bitter tears are shed, the bride says yes to the dress and everyone drinks champagne by minute
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.
In the day-to-day life of the regular law-abiding internet user, the dark web is mostly a scary unknown. Insofar as the average consumer knows, that side of the web – which is accessible only via a TOR server – is the place where their personal information is sold whenever there is a data breach. A slightly more knowledgeable consumer might also know that the dark web is where one goes to buy illegal things with bitcoin.
Enterprise digitization continues to ramp up the availability of data, and open up new opportunities for in-depth analysis of that information. However, it’s no longer enough for solution providers to simply analyze corporate data. Businesses demand actionable insights, and analytics technology must be tailored to users in a way that can guide corporate strategy.
Google Assistant is aiming to help users in even more ways thanks to new features the company debuted at CES 2020 throughout this past week. Later this year, the popular virtual assistant, which is available on mobile and smart home devices in 90 countries and engaged by nearly half a billion users each month in 30 languages, will read web pages aloud in a more pleasant, realistic voice.
To supply pizza delivery services from 3,600 restaurants in Canada and the United States, Little Caesars Enterprises Inc. will team with DoorDash Inc. Little Caesars, which is said to be the third-biggest pizza chain in the world, had never offered delivery until now, Reuters reported. The quick-service chain will not require customers to make minimum purchases to receive deals and will not restrict discounts to carry-out orders.
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
Consumers have always influenced how payment methods evolve – stretching back centuries to the barter system, and extending, now, into the digital age. And as payments are done in bits and bytes, across all manner of use cases, consumers prize convenience and personalization. For merchants, it’s imperative to take stock of the existing (and evolving) payment preferences that can be markedly different across generations – but delivering a seamless experience is a way to cement loyalty and drive r
PayPal has completed a $4 billion deal — its largest to date — to acquire the shopping rewards platform Honey Science Corporation , PayPal announced Monday (Jan. 6). With Honey, PayPal is striving to revamp the shopping journey for its customers while upping eCommerce sales and shopper engagement for its merchants. Founded in 2012, Honey has grown from an eCommerce price-tracking tool to an expanded suite of services that include a shopping assistant and rewards program.
Digital identity solutions are becoming increasingly necessary as the world’s population grows. An estimated 1.1 billion people worldwide lack basic ID credentials, according to the World Bank, and that number rises even higher when it includes individuals with poor-quality IDs that cannot be easily verified. Those without access to verifiable credentials are often restricted from obtaining vital services like education and healthcare.
No one knows just what Brexit will mean for commerce, for international trade, for currencies across the Continent. The only certainty is that the effects will be far-reaching. We’re about to find out what it all means, of course, as the beginning, well, begins. After nearly three years in the making, and barring any unforeseen events, Brexit will dawn at the end of the month.
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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