Large corporate banks have the resources to collaborate with — or even acquire — FinTech disruptors or to develop their own innovations in-house. Community banks, meanwhile, may struggle to compete, while the speed of innovation continues to accelerate. Late last week, a group of community bankers told the Federal Deposit Insurance Corp. that they’re feeling the heat from their financial technology peers.
In a deal that’s been long rumored, Oracle is buying NetSuite. NetSuite, like Oracle, offers financial accounting and related applications delivered over the Internet. NetSuite has traditionally focused more on mid-market companies compared to Oracle’s larger enterprise clientele. The addition of NetSuite’s customers and cloud Software-as-a-Service talent may help it compete better with Oracle’s rival (and sometimes partner), Salesforce.
According to a new survey from Accountemps, 30 percent of surveyed CFOs cited a motivation to learn new skills as the most necessary trait for professionals to succeed in today's business landscape. Interpersonal skills (27 percent) and the ability to "adapt easily to change" (24 percent) followed closely behind.
With risk can come great reward, but it can’t be approached with reckless abandon. Today’s strategic CFO plays a vital role in being the conscience of the organization, balancing the risks and rewards inherent with various initiatives. To this end, the role of the CFO has evolved from number cruncher to that of a strategic partner working with the CEO to help navigate the right course for growth.
In our latest infographic, we share what you could be doing this summer instead of Accounts Payable. By using MineralTree, companies reduce the time spend on AP by 50% or more. What would you do with all that extra time?
A fundamental shift within the payments industry, driven by the financial crisis and the rise of fintech, should be music to the ears of corporate treasury professionals. Real-time transactions have the ability to radically change the way treasurers handle liquidity and cash flow. Meanwhile, alternative payment methods that have greater security and more control are pushing the industry forward.
Technology will ultimately cause a shift in everything from inspection of evidence relating to random samples, to analyzing larger volumes of audit-relevant data that allows for targeted analysis of risk areas and potential anomalies. These new technologies are also about helping to ensure that auditors spend less time with the administration of an audit, and more time on thoughtful analysis of the data—essentially focusing on what matters.
Join this webinar on Tuesday, August 2nd at 2pm EST to learn how technologies are working together to increase value through revenue growth, profitability, team efficiency, cash management and lower risk. This requires the CFO to transform to a “Full Stack CFO.”
The White House issued the U.S. government's first emergency response manual for a major cyber attack. Cyber threats are "growing more persistent, more diverse, more frequent and more dangerous every day," White House counter-terrorism adviser Lisa Monaco said. The directive "will help answer a question heard too often from corporations and citizens alike - 'In the wake of an attack, who do I call for help?'"
Treasury services are a large source of fee revenue for banks - selling payment rails, wire services and other bread and butter offerings. However, when it comes to small and mid-size companies, banks can and should be a source for more than just payments and transfers. There is a huge opportunity to be generating more revenue for the bank, and perhaps more importantly, to make themselves an indispensable part of the client’s business operations.