Trying to transfer cash to a friend’s bank account is a surprisingly stressful process if you’re going through a traditional bank. The transfers can take days, often lack a “received” receipt, and come with fees. At times, the cash seems to just disappear.
It looks as though 2016 has been quite a year for cybercrime. According to Gemalto’s Breach Level Index, in the first six months of 2016, data breaches rose 15 percent, and the number of compromised data records jumped 31 percent compared to the previous six months.
The accounting sector has arguably been slow to adopt new technology, eschewing new, and often unproven, technology for older, tried and true tools. However, in the immortal words of Bob Dylan, “the times they are a-changin’”. With the changes to the audit threshold among other things, accounting firms are finding themselves reassessing and looking to expand their client services in order to continue growing their businesses.
In most of the regions, a plurality of respondents say that their companies will begin to consume some of their cash reserves over the next 12 months. In the United States and Europe, about four in ten respondents agree that their firms are likely to begin deploying their cash reserves in the coming year. That sentiment is shared by 50% of the respondents in China and 56% of the corporate executives in Latin America.
Amid the rollout of Same Day ACH — in the midst of several other faster, digital payments initiatives and in a market where B2B payments seem to finally be getting smarter — the AFP’s latest research finding an uptick in corporate use of paper checks leads to one question: What the heck is going on? The AFP’s manager of treasury and payments, Magnus Carlsson, helps PYMNTS clear the air.
As part of an annual survey of the leaders of the accounting profession, Accounting Today asks them what they think are the biggest issues facing the field, and their answers this year might well have used the old acronym SALY: same as last year. Remaining relevant in a fast-changing business and economic environment, recruiting and retaining staff in the face of the mass retirement of the Baby Boom generation, and keeping up with technology and the fast page of change remain top of mind for the top figures in the field.
Join this webinar on October 6th at 12pm, to explore why electronic payment methods are becoming more popular. Learn how you can take advantage of rebates and cash back incentives by moving AP spend onto corporate and virtual credit cards, and how easy it is to execute payment in an integrated, seamless fashion with MineralTree.
Another day, another scheme. Hackers are hard at work coming up with new ways to make everyone pay — from customers to businesses, and even governments. In this week’s Hacker Tracker, we take a look at the latest figures for how much cyberattacks are really costing us and how the hackers just keep coming out on top.
A criminal gang was able to successfully defraud business customers and steal £113 million, but now the group is facing a total of 27 years in jail. The organized crime network, which posed as bank staff in order to target thousands of Lloyds and RBS business banking customers, reportedly used highly sophisticated social engineering techniques to make off with businesses’ online banking details.