Mon.Nov 09, 2020

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Amazon Opens Three More Brazilian Logistics Hubs

PYMNTS

The eCommerce surge generated from the COVID-9 pandemic has prompted Amazon to open three additional logistics hubs in Brazil, according to a report in Reuters on Monday (Nov. 8). The new centers are operating in Minas Gerais, Rio Grande do Sul and Brasilia, the country’s capital, and increase the number of Amazon logistics hubs in Brazil to eight. .

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Veterans Day 2020

Withum

Veterans Day is celebrated tomorrow, but should be celebrated every day. The men and women that served and are serving in our armed forces put themselves in harm’s way to assure we maintain the freedom, liberty and justice we too many times take for granted.

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Cooler Screens Brings New Look To Retail Innovation

PYMNTS

For most of us, a stroll down the chilled or frozen food aisle in the supermarket is essentially an in-store version of window shopping. But for Chicago-based Cooler Screens , all those clear refrigerator doors are a potential goldmine. “We are taking advantage of unused capacity,” Cooler Screens Chief Technology Officer Rob Dravenstott told PYMNTS in a recent interview.

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What Does Biden’s Win Mean for Tax Policy?

Withum

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Planning Your Restaurants Path to Profitability

Speaker: James Kahler, COO of Full Course

Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.

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WEX’s Dearborn Says B2B Payments Has Reached Tipping Point

PYMNTS

When it comes to the scope of changes that businesses have implemented in the past seven months of COVID-era adaptation, characterizing the digital shift as a mere “acceleration” would be an understatement. “I think when the pandemic hit in early March, it really put a gun to the head of many companies by taking what have been Byzantine processes around accounts payable or accounts receivable and moving to much more digital means,” Jay Dearborn , president, corporate payments of WEX Inc. , told

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Can an Outsourced CFO Improve Your Small Business' Financial Position?

FusionCPA

If you are operating a small business, you're fully aware of the abundance of opportunities it brings as well as all of the challenges, which can include keeping your bookkeeping in order, following regulatory guidelines and reporting your taxes. If you're like many busy entrepreneurs, you probably outsource your bookkeeping, tax planning, and preparation.

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Tax Benefits of LLC | LLC Taxes Explained by a CPA – How does a LLC save taxes?

LyfeAccounting

?. LLCs are by far the most popular entity type amongst small businesses. But what exactly are the benefits of an LLC? How does it protect your business? And more importantly, what are the tax benefits of choosing an LLC over another entity? The answers to these questions may influence the entity structure that you choose for your business, and how much money you end up paying the IRS.

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Business Payments FinTechs Embrace A Time To Innovate

PYMNTS

With the global pandemic creating a market of volatility, corporate spend is down as businesses look to safeguard their bottom lines against macroeconomic headwinds. Recent analysis from the World Advertising Research Center forecasted corporate spend on advertising campaigns this year to drop by 8.1 percent — or nearly $50 billion — for example, CNBC reported.

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Picking the Best NetSuite Partner – 4 Things to Know to Ensure Success

Withum

Looking to hire a NetSuite partner to help with your project? Here are 4 things to know about them to make sure you make the right choice.

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Dine-In Restaurant Stocks Rally On Vaccine News, But Food Aggregators And Pizza Chains Sink

PYMNTS

News on Monday (Nov. 9) that Pfizer’s experimental COVID-19 vaccine has delivered a preliminary 90 percent success rate sent consumers’ hopes soaring, fueling a rally in stocks of dine-in restaurants and other companies linked to how we used to live. For instance, shares of Brinker International, which operates or franchises about 1,600 Chili’s Grill and Bar locations and other eateries, were up 15 percent as of midday Monday.

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How Automation is Driving Efficiency Through the Last Mile of Reporting

Speaker: Jamie Eagan

As organizations strive for agility and efficiency, it's imperative for finance leaders to embrace innovative technologies and redefine traditional processes. Join us as we explore the pivotal role of digitalization and automation in reshaping what is commonly referred to as the “last mile of reporting”. We’ll deep-dive into why digitalization is no longer a choice, but a necessity for finance departments to stay competitive in a fast-paced environment touching on: 2024 trends for the Office of

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Picking the Best NetSuite Partner – 4 Things to Know to Ensure Success

Withum

Looking to hire a NetSuite partner to help with your project? Here are 4 things to know about them to make sure you make the right choice.

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Autonomous Delivery Startup Nuro Nets $500M In Funding On $5B Valuation

PYMNTS

Nuro , a startup focused on robotics use in daily life, has raised $500 million in a Series C funding round, according to a Medium post. The round was led by funds and accounts advised by T. Rowe Price Associates, with participation from new investors, including Fidelity Management & Research Company and Baillie Gifford. SoftBank Vision Fund 1 and Greylock, which are existing investors, also participated in the round, the post stated.

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Don’t Be So Cheap

RitaKeller

“Spend at least 10% of your budget on the best professional advice available before you spend a nickel on anything.” – Harvey Mackay. Accountants are often known for being frugal. Your employees might think you (as a group of owners) are actually very cheap. Here’s the difference – – Cheap people are driven by saving money regardless of the cost; frugal people are driven by maximizing total value, including the value of their time. … Being cheap is

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Payer Financial Debuts New ID Verification Service

PYMNTS

Payer Financial Services has developed a new registration product to change how customer relations are made between companies online through better identity verification services, according to a press release. The new product will let eCommerce merchants verify new customers as trustworthy, to ease some of the difficulties of making new transactions, the release stated.

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No-Code Technology: The Key to Unlock the Future of Your Business

Global economies are reeling from recent upheavals—pandemic aftershocks, geopolitical conflicts, and a tech sector crunch. Mark Zuckerberg's 2023 "Year of Efficiency" ethos extends into 2024, with leaders seeking cost reductions without stunting growth. No-code technology emerges as a beacon of hope, fostering resilience and adaptability. Platforms like Make.com and Zapier empower even non-technical staff to automate and innovate, freeing IT for strategic tasks.

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PEI’s Biennial Fees and Expenses 2020 Survey Released

Withum

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Google App Lets Creditors Lock Financed Phones

PYMNTS

With a new Google Play app called Device Lock Controller, creditors for installment phone plans have gained the ability to restrict access to one's phone if they don't make a payment on time, according to a report from XDA. But the app wasn't supposed to be available in the U.S., the company said, per the XDA report. Google, in an update to the XDA story, called the quiet launch of the app on Google Play a mistake and said the app wasn't intended to have been launched that way.

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Public Records in Financial Investigations

FraudFiles

The internet is an important source of information in financial investigations. It has become so important, that I wonder what I ever did without access to all of this information! Even though my work is focused on digging into the details of financial records – – and many of those are private and not available online – – I still acquire a lot of information helpful to my investigations on the internet.

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Deep Dive: How Digital AP Can Help Construction Firms Navigate Payment, Procurement Challenges

PYMNTS

The pandemic has driven companies in many sectors to streamline cumbersome payment processes that are siphoning off time and money they can no longer afford to lose. Many of these processes are decades-old and must follow complex regulatory guidelines, as is the case in the construction industry. Construction companies are facing both time and cash crunches due to dwindling work opportunities and slower payment timelines during the crisis.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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Verishop Adds More Social Features To Its eCommerce App

PYMNTS

Social commerce platform Verishop is adding new social features to its app, allowing all users to share content and interact with other shoppers and brands. What began as an eCommerce site has grown to include social elements, such as allowing users to upload photos and videos, tag products, and follow brands and other users, announced in a company press release.

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Bitcoin Daily: Bitcoin Stock Dips At Vaccine News; Crypto Licensing Bill Proposed In NJ; TradeStars Launches New Fantasy Sports Stocks Token

PYMNTS

As other stocks rebounded at the news of a breakthrough in Pfizer and BioNTech’s joint COVID-19 vaccine, bitcoin fell sharply to nearly $14,815, according to CoinDesk. By the end of the day, the stock had risen slightly, hitting $15,369.783 at 5:16 p.m. ET, but still down from the day’s starting point of $15,800. Pfizer announced this morning that clinical trials were showing an efficacy rate of more than 90 percent for preventing patients from contracting the coronavirus.

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New Data: More Than Forty Percent of U.S. Consumers Shop Through Digital Channels … And Stay There

PYMNTS

Not all that long ago, consumers would head to local business districts or malls without necessarily having set plans about what they might buy or which shops they might enter. The COVID-19 pandemic has fundamentally altered the age-old tradition of going shopping, however. The vast majority of United States consumers now know what they want to buy before they begin making purchases — and once they have made up their minds, they are far more likely to reach for their computers and mobile devices

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Big Tech Compliance Tracker: EU Prepares To Propose New Big Tech Regulations; Turkey Fines Big Tech Platforms $1.18M

PYMNTS

Here’s the latest news from the technology industry, which is coming under increasing global scrutiny from governments and consumers. Regulation. EU Gears Up To Propose New Big Tech Regulations. The European Commission will soon put forward a “revolutionary” revamp of digital rules that could negatively impact Big Tech’s business models, CNBC reported, citing experts.

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Recruit and Retain New Blue-Collar Talent

Blue-collar jobs have a branding problem. One company, GEON, partnered with Paycor to find the solution. Learn how to attract, engage, and retain blue-collar employees, helping them build meaningful careers – and support your company’s goals.

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Auto Sales In China Up For Fourth Month

PYMNTS

Sales of cars in China posted a big gain in October, offering a bright spot for the still recovering global auto sector, with electric vehicles leading the growth charge, The Wall Street Journal (WSJ) reported. China saw an 8 percent jump in sales in cars, SUVs and other vehicles, rising to just less than 2 million for the month, WSJ reported, citing China Passenger Car Association (PCA).

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Phlatbed CEO: How Mobile Tools Keep On-Demand Wages Moving

PYMNTS

Both businesses and consumers are still attempting to deal with the financial hardships brought on by the ongoing pandemic. In the United States, 8 million consumers have fallen below the poverty line since May, for example, movement that severely reduces the access these consumers may have to financial tools. Consumers in financial straits may find it difficult to maintain the balances necessary for them to keep their checking accounts open for one example, causing them to become unbanked.

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Indian Antitrust Regulator Targets Google Over Google Pay Concerns

PYMNTS

India’s competition watchdog is taking aim at Google for allegedly abusing its market power to push its payments app in one of the world’s fastest-growing markets. The Competition Commission of India (CCI) announced on Monday (Nov. 9) that it is launching an antitrust case against Google. In particular, the CCI is looking at how Google Pay is promoted when an Android phone is being set up, and whether phone companies have a choice in the matter.

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Today In B2B Payments News: Starling Eyes IPO, Lloyds Teams On Trade Finance

PYMNTS

Today in B2B, Starling Bank seeks new funding as the challenger bank is said to be considering an IPO. Plus, Lloyds Bank partners with a FinTech to streamline supply chain finance, Expensemanager collaborates to automate expense management and Xendoo pairs up on accounts receivable optimization. Lloyds Bank, Demica Team up for SCF Digital Onboarding.

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Join the Instant Payment Revolution: Read 7 Must-Know Facts for Small Businesses

Technology evolves at lightning speed, and as finance keeps changing, instant payments emerge as a game-changer for small businesses. By 2030, instant payments are projected to surge by 289% and will become the new norm in financial transactions. Our whitepaper reveals seven must-know facts about instant payments, offering to help you navigate this financial revolution effectively.

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Fed: Banks Tighten Loan Rules, See Less Than 5 Pct Of Loans In Forbearance In Q3

PYMNTS

In the third quarter, banks tightened their loan standards to firms of any size and also saw weaker demand than usual, according to the Federal Reserve ’s October 2020 Senior Loan Officer Opinion Survey on Bank Lending Practices. The tightened standards and weaker demands could be seen over all of the major commercial real estate (CRE) categories, construction and land development loans, nonfarm nonresidential loans and multifamily loans, according to the report.

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Bounce-Back Loans Shaky After Funding Loss By UK FinTech Lender Tide 

PYMNTS

Numerous British firms are at risk of losing access to bounce-back loans (BBL) after the U.K. FinTech Tide withdrew from the program citing inadequate funding, according to a report in The Guardian. . Owners of small and mid-size businesses (SMBs) who borrowed under £50,000, or 25 percent, of the “turnover limit for BBLs” were eligible to apply for top-up loans as Europe works through its second pandemic lockdown.

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B2B Payment Terms Take A Hit From COVID-19

PYMNTS

Delayed payments continue to plague suppliers, particularly smaller players, and unfortunately, the global pandemic has only worsened this pain point. This week's B2B Data Digest looks at the latest stats in the fight against late payments, and finds several instances in which the COVID-19 crisis has exacerbated the late payments problem. 25 companies surveyed in the denim supply chain have revealed "destructive" behaviors from their corporate clients, according to a new report by Transformers F

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Rite Aid Rebrands, Reconfigures Retail Experience

PYMNTS

Rite Aid, locked in a battle for U.S. market share with CVS and Walgreens, unveiled its rebranding Monday (Nov. 9) along with a new vision for its in-store and digital-first experience. “This is an important milestone in our relentless pursuit of becoming the preeminent whole health destination. We’re charging forward on our journey to revitalize the chain drug store experience — store by store, community by community — and today we’re ready and excited to invite customers to join us on this jou

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How CPA Firms Can Profit From Payroll Services Without the Extra Work

"Offer payroll and do it yourself,” they said. “It’ll be fun!” Spoiler alert: It was not fun. Most CPA firms know that they need to offer payroll services to their clients or risk losing them to another firm that will. However, many don’t really want to. It is often time-consuming and complex due to changing tax laws and regulations, and with the growing staffing shortages, most just don’t have the resources.