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No longer confined to traditional financial management, CFOs now play a pivotal role in safeguarding their organizations against increasingly sophisticated cyber threats. As stewards of financialdata, CFOs must prioritize cybersecurity measures to ensure the security of sensitive information and maintain client trust.
But there are tactics that organizations can deploy in order to move the needle forward towards their cash flow goals, from prioritizing the most lucrative buyer-seller relationships, to finally ditching the Excel spreadsheet. Achieving real-time data analytics is a lofty goal for organizations without the proper tools.
At their core, finance AI chatbots are virtual assistants designed to automate financial tasks and provide customers with personalized, real-time support. What started as simple, rule-based programs has evolved into smart conversational agents powered by advanced technologies. Automated dashboards and custom reports.
Administrative Costs : Operational essentials such as technology, office supplies, and HR fall into this category. Prioritize Cash Flow Management Even a great budget can fall short without strong cash flow management. Use Historical Data : Analyze past financialdata to identify trends and anticipate future needs.
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.
If you dont have real-time access to financial reports, its time to upgrade your processes or invest in better financial management technology. The Power of Financial Transparency Strong financial reporting isnt just about compliance; its a strategic advantage.
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.
The demand for mobile wallets, online banking services, and the increasing adoption of digital technologies has led to the expansion of the financial applications market in Asia/Pacific. Companies are increasingly seeking secure and compliant solutions to manage their financialdata.
However, SAP understands the critical role technology can play in creating promising results in addressing issues like climate change and creating a more circular economy. SAP green ledger provides bottom-up, audit-ready sustainability values that are managed with the same precision as corporate financialdata.
As companies adjust their business models and prioritize risk mitigation, the corporate treasury offers a valuable, forward-looking view into financial futures. Some may say, 'data is the next oil,' but it can't be if the company doesn't have the platform to optimize its use.". "One Data aggregation is only the first step.
“We’re living in the wealthiest country in human history, and the fact that these issues still exist, it’s very disappointing, and it feels like something that technology should be able to address.”. Particle has an advanced product that makes it easy for consumers to authorize their healthcare information to be shared among providers.
Earlier this year we announced that we’d teamed up with global technology firm Intuit Inc. , Explore technology – look for technologies that will help you drive a faster, more efficient process and shorten cycle time so you can have more frequent runs on decision making and can turn around quicker answers.
Digital transformation in finance refers to the process of integrating digital technologies and innovations into all aspects of financial services and operations within a financial institution or organization. What is a Goal of Digital Transformation in Finance?
More than 670 professionals at mid-sized and large firms were asked about how they collaborate with human resources and IT departments, both areas of the enterprise that have significant impacts on financial management.
It wasn't until the second half of the year, she said, that organizations were truly able to prioritize the acceleration of their digitization journeys. Now that financialtechnology is available to businesses, chief financial officers (CFOs) have more options in their toolkits to take action.
This week’s B2B venture capital roundup includes a slew of companies experimenting with enterprise data use cases. They include Internet of Things (IoT)-connected manufacturing machines, cross-platform financialdata analysis, predictive analytics for inventory management and more. In all, more than $87.8 MachineMetrics.
Whether you operate in technology, hospitality, manufacturing, trading, or property management, ensure that your chosen partner has a deep understanding of your industry’s unique challenges and opportunities. This knowledge will be invaluable in developing tailored financial strategies that fit your business perfectly.
This often means providing digital solutions and convenient banking options despite smaller technology and innovation budgets, however. Security is an ongoing concern as well, with countless fraudsters set on hacking CUs to obtain customers’ data. Digital Makeover Pushes Security, New Services .
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Let’s explore the key factors to consider when researching nonprofit accounting services–from the firm’s expertise to its technology recommendations–so you can be sure you’re getting the nonprofit accounting your organization needs. Technology and Tools The modern world is built on technology, and nonprofits are no different.
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This time around, the SBA is prioritizing underserved groups such as minority-owned businesses and will only accept applications from community financial institutions during the first two days after its loan portal opens, said Lendio CEO Brock Blake in an article for Forbes. FortisPay Buys Swype to Expand AP, ERP Capabilities.
We’ll also look at the most effective strategies for improving communications and how technology can help bridge the gap. Misaligned goals and priorities: Fundraisers focus on securing funds quickly, while accountants prioritize accurate recording and management.
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. I think rightfully so. And there’s a few different opportunities.
Budgeting involves allocating resources and setting financial targets for various departments or business units within the organization. Financial Analysis: FP&A professionals conduct in-depth analysis of financialdata to assess the organization's performance and identify areas for improvement.
But something has happened over the last few years, according to Coupa VP of Strategy and Product Marketing Donna Wilczek: Technology has enabled AP professionals to become strategic and massively important to the success of any corporation, large or small. “At no time in history has disruption been so prevalent,” Wilczek said.
To tackle this challenge, Receipt Bank recently announced the acquisition of Xavier, a deal that will allow the accounting platform to wield the data aggregation and quality management technology offered by Xavier. And the opportunities to expand accountants’ value-add to their organizational clients continues to grow.
That not only limits spend visibility, explained Anthony Rotoli, CEO of procurement and spend management technology provider ESM Solutions , but can expose higher education organizations like universities to risks, including fraud. Many entities in this space, however, struggle to gain a clear picture of where the money is going.
Unfortunately, of course, landing the ability to adequately access and manage data within a financial institution is no easy task. As the global economy progresses in its recovery since the 2008 financial crisis, regulators’ pace of introducing new requirements for banks has slowed (for now).
The benefits outweigh the burden of implementation, King said, and companies may be making a mistake by failing to prioritize adoption. The benefits to the technology are vast, and go beyond the obvious like improved cash flow management and saved money. “Having all of this data is benefitting companies. .
Hosted by FutureCFO and the Association of Financial Professionals, it saw senior heads of finance discuss the pandemic’s challenge to financial clarity and critical lessons learned that went beyond financial. Companies needed to prioritize the forecast components, to figure out what was more volatile.
As anticipated, smaller companies with up to 150 employees tend to prioritize productivity. Meanwhile, larger enterprises are updating their older technology stacks with superior and more robust alternatives. This often involves replacing outdated ERP systems or implementing new cash management solutions.
When the COVID-19 pandemic hit two years later, it forced businesses to prioritize digital to stay afloat. To get you started, here are 5 ways you can use AI to transform finance and 5 ways AI can speed your move away from yesterday’s technology for a total of 10 tips you can put to work today. Essential Terms.
According to Bryson Koehler , chief technology officer of Equifax, “The cloud is the safest bet for the financial services industry.” Cloud-based technology is especially critical in finance, where confidentiality is so important. What value are we getting from our investment in a secure technology?
Outdated workplace: Technology isn’t the wave of the future, it’s an essential element in today’s workplace. Accountants deserve positions that leverage technology to improve the department and the organization and when they don’t get that, it creates a challenge.
Categorize and prioritize your expenses to identify essential versus discretionary spending. The combination of spreadsheets technology and in-memory database helps to organize multiuser work on documents, upload fresh data in real time to reports and build updated analytics at any time.
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.
In addition, taking a systematic approach towards participating in and using industry benchmarking studies also indirectly helps advisory firm owners overcome the challenges of collecting, organizing, and comparing their firm’s data. Investments. ESG/SRI criteria); advisors who want to overlay various rules (e.g.,
Furnari previously served as Vice President of Finance at Dynatrace, a global technology company. He has also held financial leadership roles at Nuance Communications, Wyless, and Mimecast. As a CFO, success requires a broad understanding of business operations, technology trends, and regulatory requirements.
Once again the move into a new year offers an excellent opportunity to look at the trends that will dominate business technologies in 2025. Leveraging Regulatory Compliance - by attracting investment from funds and individuals who prioritize ESG values and by avoiding fines and sanctions.
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