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The Inquisitive CFO: Leveraging Curiosity for Company Growth Curiosity is often overlooked as a professional skill. Yet, for a Chief Financial Officer (CFO), curiosity can be a secret weapon to drive company growth. Connect FinancialData to Human Behavior Numbers tell a story, but it’s curiosity that brings the story to life.
The coming together of private equity and technology is redefining how organizations operate, innovate, and compete. For private equity backed firms, adopting cutting-edge technological solutions is not just an advantageits a necessity for maximizing efficiency, driving growth, and maintaining a competitive edge.
Financial transformation has emerged as a critical imperative for organisations in 2024, driven by the need to adapt to rapidly changing economic conditions, technological advancements, and evolving business landscapes. Evolving role Historically, CFOs were the stewards of financial reporting and compliance.
Source: Data collected during the FutureCFO Conference series in 2024, Cxociety Research Coming into 2025, as finance leaders face mounting pressure to do more with less while driving growth and maintaining compliance, they are turning to digital solutions and holistic approaches to reshape and modernise financial processes.
As businesses navigate their way around various technological advancements, finance teams are faced with the task to integrate analytics and automation into their existing processes, determining at the same time which specific system to transform first for maximum operational impact.
This is the power of Financial Information Systems (FIS). Financialdata is no longer just about tracking income and expenses; its a strategic tool that helps businesses make smarter, faster, and more informed choices. Often, finance teams work separately from sales, operations, and HR, leading to inconsistent financialdata.
What we’re trying to do is leverage open banking to replicate a FedEx or Amazon experience where businesses know where their payment is at any given point of time, so they have real-time cash flow positioning.”. This ‘technology trust’ is something that FinTech companies can deliver.”. That is a powerful offering.
Strong FP&A practices help finance teams improve data accuracy , use technology effectively, and make well-informed financial decisions. This leads to better budgeting, more reliable forecasting, and stronger financial stability. Present financialdata with clear charts for faster decision-making.
The announcement by the Consumer Financial Protection Bureau ( CFPB ) comes on the heels of a symposium it held in February which included experts from consumer groups, financialtechnology (FinTech) companies, trade groups, banks and data aggregators. Congress created the legislation in 2010 that created the CFPB.
A panel of industry experts at the Sibos 2024 conference on Tuesday discussed the critical role of data sharing and fraud detection in the modern financial landscape. However, due to existing privacy laws and regulations, banks remain hesitant to share financialdata. If data is shared, it is done via lateral agreements.
This blog post provides an overview of these major waves of change based Bramasol's more than 27 years of working closely with CFOs and their stakeholders across many industry segments and technology innovation cycles. They are expected to provide financial leadership and insight into the organization's strategic direction.
Africa And Middle East MNT-Halan MNT-Halan developed innovative technology that provides a digital solution for unbanked populations. By leveraging AI and machine learning, Moody’s products create efficiencies and deliver powerful insights to customers. This solution compiles relevant information currently in a bank origination system.
Administrative Costs : Operational essentials such as technology, office supplies, and HR fall into this category. Provide Financial Literacy Training: To department heads and anyone else in the organization interested in being part of the process and empowering better decision-making.
In today’s rapidly evolving business landscape, the integration of technology into accounting practices has shifted from a luxury to a necessity. With the demands of modern businesses continuously growing, leveragingtechnology to streamline accounting processes is crucial for maintaining accuracy, efficiency, and competitiveness.
With the rampant incidents of frauds and scams related to finance, machine learning can be leveraged to detect and prevent financial fraud, allowing a company or an organisation to respond in real-time. The post Leveraging machine learning to detect financial fraud appeared first on FutureCFO.
According to Terry Smagh , senior vice president & general manager, Asia Pacific & Japan, BlackLine, the company undertook the study is to understand and recognise the critical role that financialdata plays in informing businesses about strategy and continuity, the poor visibility if any, and the lack of real-time access to data.
The coming together of private equity and technology is redefining how organizations operate, innovate, and compete. For private equity backed firms, adopting cutting-edge technological solutions is not just an advantageits a necessity for maximizing efficiency, driving growth, and maintaining a competitive edge.
The coming together of private equity and technology is redefining how organizations operate, innovate, and compete. For private equity backed firms, adopting cutting-edge technological solutions is not just an advantageits a necessity for maximizing efficiency, driving growth, and maintaining a competitive edge.
Consumer Bank Chief Digital Officer Mike Naggar said the FI aims to provide customers "a choice, convenience and control of their financialdata. WEX Talks Bank Partnerships To Advance B2B Payments. Radius Bank Ramps Up SMB Services With Narmi.
Information technology (IT) management solutions provider Kaseya, which targets managed service providers (MSPs) with its offerings, is linking up with small and medium-sized business (SMB) accounting firm Xero to help businesses gain greater control over their financialdata. The companies said Thursday (Feb.
Review existing data: Look at your company’s historical trends, current financialdata, and market research. Even if the data isn’t perfect, it can give you a starting point. Use visuals, like charts or dashboards, to explain financialdata. Ask questions: What information do you have now?
Specifically, payments giants are buying up data aggregators, which let consumers share data with thousands of apps — and in the process are taking on the roles of trusted intermediaries as information flows across the financial services landscape. We’ll leverage expertise, and we’ll leveragetechnology.”.
Enforce Strong Internal Controls Without internal controls, nonprofits are vulnerable to financial mismanagement and fraud. Establish clear approval processes for all financial transactions, including vendor payments and employee reimbursements.
For businesses, this might spell out the adoption of a new strategy, scheduling approach, or technology implementation. Technology implementation has been a popular course of action in recent years for many organizations. Moreover, how do you ensure data quality, security, and privacy as cybersecurity breaches stubbornly persist?
They value transparency, ease of use, and personalization, putting pressure on asset managers to adopt new technologies and pivot from traditional relationship models. Real-time data access Millennials and gen Z clients have high expectations for immediacy in financial information.
Rigid data silos have been replaced with more fluid methods of working as technology-enabled collaboration provides a comprehensive, company-wide, real-time overview for agility when plans change. It is not about becoming tech-dependent, but about leveraging its ability to accelerate processes with precision.
To translate financial performance into actionable results, start by understanding the key drivers behind your financialdata. Bridge the Gap with Strategic Investments One of the most effective ways to translate financial performance into results is through strategic investments.
Mark D McDonald “Just like any disruptive technology throughout history, AI will inevitably displace and replace some roles and skills, but new roles, skills, and opportunities will also emerge." What level of maturity in terms of experience at work and in the use of technology should a finance person have for AI to make a difference?
This insight spurred the creation of Ledge, a platform designed to automate repetitive tasks and streamline financialdata management Read More Tal’s experiences highlighted the critical role of AI in transforming finance functions. Jack Sweeney: We want to want to touch on AI with you. I think rightfully so.
It is why the accounting profession is in need to keep up with the technological trends and not be caught off guard by the hurdles on the way, fully understanding the weight and importance of upskilling and reskilling. This transformation is an intertwined act of two complimentary forces: Sustainability and Technology," Abrol explains.
Efforts to standardise reporting practices are also underway, and we see firms investing in technology to enhance their disclosure capabilities. Businesses can also leverage regulatory technology solutions that automate compliance monitoring, identify regulatory changes, and help organisations quickly adapt to new requirements.”
Leveragingdata to offer informed decisions Going beyond RPA, the shift to the cloud and vast amounts of data now available means CFOs have an opportunity and expectation to broaden their focus to not only improve the bottom line, but to also contribute to the top line by leveragingdata to provide actionable business insights.
In B2B payments, that can mean discontent in the way traditional banks and FIs do business or a need for disruptive technologies to come to market faster than banks can offer. Deals were made with B2B invoicing and payments firm Viewpost, as well as health care blockchain company Gem and natural language search technology company ClearGraph.
Members’ Profile: Yvonne Dias In this edition of CFO Club Africa’s Members Spotlight, we are introducing Yvonne Dias, the Group CFO at MINT Management Technologies. This recognition was not only a testament to my dedication and hard work but also an acknowledgment of the strides we are making in empowering women in technology.
As the outlook for the 2023 economy becomes more uncertain, finance professionals are looking to invest in technology that increases organizational efficiency and contributes to strategic decision-making. Not all companies will have the same technology needs, and the focus of technology investment may vary.
An EY study reveals that up to 70% of financial controllers and CFOs in Singapore found an increase in demand for financial analysis and forecasts as stakeholders are increasingly interested in including non-financialdata for corporate reporting. Businesses are really seeking ways to harness data to leverage their data.
However, we may belittle it as a product of the late 70s technology, the spreadsheet remains a preferred first tool for organising ideas into some order – whether it is a list of people attending an event or expenses. Integration improves data accuracy, real-time changes, workflow, and repetitive spreadsheet activities.
How FISPAN sees the importance of data and how to grow beyond the point of data aggregation. How data will be delivered and received from FISPAN and the third-party partners we work with. Financial institutions (FIs) are under pressure to drive innovation in financialdata access for the commercial banking space.
As the business world veer towards constant changes--be it on technological advancements, regulations and policies, or sustainability standards and initiatives, it is imperative that Finance leaders know their way. CFOs will find it even more challenging to move into the space of non-financialdata and customer data platforms."
Less Stress Leads to More Success: Why a Faster Monthly Close Is Key Faster and more accurate closing cycles ensure your advisors, CFOs, and controllers have up-to-date financialdata to base important decisions. Regularly reconcile accounts: Instead of waiting until the end of the month, reconcile your accounts regularly.
A better way to make decisions is using data. Leveragingdata for strategic decision-making has many benefits–from improving your efficiency to increasing the success rate of campaigns or strategies. Types of Data for Nonprofits The types of data a nonprofit might use for decision-making can vary between organizations.
Big Data analytics reached a market valuation of $29.87 billion by 2025, with banks of all sizes leveraging such capabilities. Data analytics can give banks valuable insights into their customers’ financial lives and help them offer tailored financial products. billion in 2019 and is projected to total $62.1
The) pandemic had accelerated the use of technology to fill the gap of face-to-face collaboration,” said Kum Fai Chew , group head of accounting and FP&A at Vena Energy Pte Ltd. Both technologies have been instrumental in eliminating repetitive tasks such as generating reports, cleaning data, (and) creating graphs and charts,” Tan said.
Leveraging Automation Automation is a viable solution for organizations struggling with staffing shortages. CFOs must budget for technology investments that support compliance, allocate funds for employee training, and ensure organizational flexibility to adapt to new regulations.
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