April, 2020

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Episode 067: Craft Beer and Local Food with Corey Lord

BuildYourFirm

Want to know about the craft beer and local wine and food industries? Then don’t miss this episode! Join host Hugh Duffy as he talks with Corey Lord, Lord CPAs. The two discuss how he got started in this unique niche. What are some of the pressure points in those businesses? And what are some of his goals for the future? Join us! Want to know about the craft beer and local wine and food industries?

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IRS Launches Consumer Portal For Getting Stimulus Checks

PYMNTS

A new IRS portal for coronavirus relief payments has been launched in conjunction with the U.S. Treasury to assist people who don’t typically file taxes. . The non-filer tool can be used by U.S. citizens and resident aliens who are not claimed as dependents and had gross income below $12,200 ($24,400 for married couples) in 2019, according to the IRS site.

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COVID-19 Relief for Indiana Property Owners

Katz,Sapper&Miller

With property tax deadlines looming, Indiana property owners are looking for relief in the midst of the COVID-19 crisis. From payment extensions to potential assessment adjustments, there are options that could alleviate immediate financial obligations.

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Sweden’s Outlier Response To COVID-19, And Its Results So Far

PYMNTS

While most of the world has gone into some version enforced social distancing and quarantine mode with the rise of COVID-19 — closing schools, banning public gatherings, shutting down all non-essential businesses like restaurants and shops and requiring that anyone who can work from home do so — Sweden has been an outlier. Shops in Sweden remain open, as do bars, restaurants, schools and offices.

Education 145
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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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Bringing AI To The Fight Against Healthcare Payments Fraud

PYMNTS

The coronavirus pandemic poses an unprecedented challenge to healthcare systems that will likely extend for months — and perhaps even years — to come. More than ever, hospitals and other medical facilities need to focus their resources on healing the sick and avoid getting bogged down by administrative costs and inefficiencies. This brings a longstanding challenge to the fore: Healthcare organizations have long struggled with fraud, waste and abuse (FWA), costing the United States healthcare sec

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Reimagining The Bank As A Technology Company

PYMNTS

Intimidated by the scale and cost of a massive technological overhaul, large financial institutions (FIs) may approach their digital transformation (DX) journeys gradually, targeting various areas of operations to modernize one-by-one. While this strategy can yield results, it can also create silos, hampering a bank’s ability to achieve one of the most vital goals of DX: seamless integration of operations that boost efficiency and improve the end-user experience.

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NEW DATA: 60 Percent Of US Consumers Now Live Paycheck-To-Paycheck

PYMNTS

The COVID-19 pandemic has triggered an unprecedented wave of business closures, placing millions out of work with no telling when they will be back to business as usual. It has also exposed and exacerbated a deeper, more structural problem with the United States economy that has been looming just beneath the surface for some time: A large portion of Americans are living hand-to-mouth and have almost no savings.

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Texas Hotelier Nets $59M In PPP Loans

PYMNTS

The biggest benefactor of the Paycheck Protection Program (PPP) is a Dallas, Texas-based hotelier named Monty Bennett, who has received $59 million from the program intended to help small or medium-sized businesses with the economic crisis. Bennett is the chair of Ashford Hospitality Trust , which manages a number of hotels including Atlanta’s Ritz Carlton and the Marriott Beverly Hills.

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JPMC To Require 700 Credit Score, 20 Pct Down For New Mortgages

PYMNTS

JPMorgan Chase is attempting to stave off the oncoming economic downturn by raising the standards on who can borrow from them for the time being, according to a Reuters report. The new standards will make it so customers applying for a new mortgage will need a credit score of 700 or higher and will have to make a down payment of 20 percent of the home’s values.

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Fed Bets Trillions In SMB Lending That Consumers Will Return

PYMNTS

A quick recovery may be in the cards. But so might a “false start.”. Thursday morning, the U.S. Federal Reserve said that it had launched a multi-trillion dollar lending program that targets smaller businesses, and in a broadened salvo, targets local governments, too. It’s all meant to shore up the U.S. economy, as the fallout from the coronavirus continues.

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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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IRS $1,200 Stimulus: Why Your Check Is Not In The Mail

PYMNTS

If your $1,200 federal COVID-19 stimulus payment has been deposited into your bank account by the Internal Revenue Service (IRS), consider yourself one of the lucky ones. An IRS spokesman told PYMNTS that only about 80 million payouts – about half of the expected total – had been issued as of last Friday (April 17). That leaves many taxpayers waiting, but the spokesman couldn’t provide a schedule of when payments will be issued.

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Banking On A Rough Earnings Season For Banks

PYMNTS

Three months seems a lifetime ago, pre- coronavirus pandemic, pre-recession, pre-lockdown, pre-bailouts. The stark changes in all facets of daily life for the U.S. (and international) consumer and the businesses that serve them will be center stage as earnings season gets underway, starting, as always, with a slew of big banks. This week, Wells Fargo , JPMorgan Chase , Citigroup , Bank of America and Goldman Sachs will report results for the March quarter and are likely to show volatility, to pu

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Hacker Hits Italy-Owned Bank’s Emails, Data Breach Unknown

PYMNTS

Italian bank Monte dei Paschi was the victim of a hacking attempt, according to a notice seen by reporters recently, Reuters reported. The state-owned bank did not comment but told clients in an email that the attack was on some of the employees’ mailboxes. Some voicemail messages had been sent as attachments because of the attack. The notice did not say there had been any breach of company data, and it didn’t say if customers had lost anything or what the fraudulent emails had been

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New Facial Recognition Policy Signed Into Law In Washington State

PYMNTS

Washington State Governor Jay Inslee signed a bill on Tuesday (March 31) establishing specific rules – backed by Microsoft – governing facial recognition software, according to a blog by Bill Smith, president of Microsoft. “This legislation represents a significant breakthrough – the first time a state or nation has passed a new law devoted exclusively to putting guardrails in place for the use of facial recognition technology,” Smith said in the post.

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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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Royal Bank Of Canada Rolls Out Digital ID Verification For Account Opening

PYMNTS

COVID-19 has changed daily routines around the world as more consumers have had to stay at home, only venturing out into public for necessities. This is leading companies of all kinds to navigate how to reach them remotely. Financial institutions (FIs) are among the entities that are working to securely meet clients where they are through mobile and online channels to complete tasks that would more often be completed in person.

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Rewriting The Future Of Supply Chain Success

PYMNTS

The global pandemic has thrown businesses into an entirely new playing field and left many scrambling to act. Retail demand has risen sharply for items like home cleaning supplies and groceries, while dropping off in other product categories, leaving companies to adjust to these shifting purchasing patterns. Businesses reliant on global supply chains and manufacturers in greatly impacted countries face new hurdles and must seek ways to acquire the items they need.

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Mastercard’s Ethoca On Helping Merchants Grapple With The Upcoming Chargeback Deluge

PYMNTS

A deluge of chargebacks is headed toward the payments industry, spurred by the coronavirus, as all areas of the global economy have been upended. In an interview with Karen Webster, Johan Gerber, executive vice president of cyber and security products at Mastercard , said that many companies are being inundated with disputes and cancellations, and with demands to refund consumers’ money — a trend that will branch out from travel and leisure verticals and into other segments.

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Instant Replay: PPP Loan Site Flatlines On Opening Day Of Second Round

PYMNTS

The second round of Paycheck Protection Program (PPP) funding was an instant replay of the first, as the loan network collapsed from the tsunami of applications from small businesses desperate for relief. . “All of the reports I have around the country is that it’s been a disaster,” Paul Merski of the Independent Community Bankers of America told The Washington Post (WaPo) on Monday (April 27).

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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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Pandemic Pricing Prompts Lawsuit Against Food Delivery Apps 

PYMNTS

Food delivery apps GrubHub, DoorDash, Postmates and Uber Eats were named in a class-action lawsuit filed in Manhattan federal court that alleges price gouging during the coronavirus pandemic as well as before. Additional service fees charged to restaurants will result in higher menu prices that will trickle down to hurt consumers, according to a Reuters report on Monday (April 13). .

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Airlines Eye Selling Miles For Cash

PYMNTS

Cash is the buffer that can help companies grapple with the drop in consumer demand, the ripple effects of disrupted supply chains and disappearing top lines as the coronavirus pandemic continues. Cash is what can keep the lights on and the staff paid. And in some case companies have had to tap into new ways of raising cash (beyond, for example, waiting for stimulus or bailout funds) by leveraging assets that, in turn, tie into a resurgence in consumer spending and traveling — in short, business

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IRS Has Rocky Start With Stimulus Funds As Money Misrouted

PYMNTS

From error messages on the Get My Payment tool to misrouted funds and checks sent to dead people, the IRS is having a tough time getting coronavirus stimulus money into the hands of those who need it most. . The new Get My Payment tool launched on Wednesday (April 15) by the IRS and the Treasury Department is supposed to let people know when they can expect their stimulus check or direct deposit, or allow them to enter direct deposit information so they can get their money faster. .

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Marriott Plans For Reopening And Keeping Guests, Workers Safe From COVID-19

PYMNTS

Arne Sorenson, Marriott International Inc.’s CEO, said the deadly coronavirus pandemic will change the experience of staying in a hotel — at least temporarily — according to a report by Bloomberg. He told Bloomberg Television’s Leadership Live broadcast on Monday (April 20) no one knows when the lodging industry will rebound from impacts of COVID-19.

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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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Why ‘Digital-First’ Banking Will Become ‘Digital-Always’

PYMNTS

Amid the coronavirus pandemic, a significant number of bank branches shuttered. And where there are branches, hours are staggered. As Doug Brown, senior vice president and general manager of NCR , told Karen Webster, fundamental shifts are underway in financial services and the very way in which those services are delivered — and the shifts will be permanent.

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The Handshake Is Dead – Long Live The Curtsy

PYMNTS

The handshake has a long and curious history as far as greetings go. Most historians place the first instance back in the 5 th century BCE in Greece, where it was used to demonstrate that one was not carrying a weapon. When used in a commerce context in public markets, it was often combined with another new fad sweeping early civilization – waving (to demonstrate you weren’t holding a weapon in the other hand, either).

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How Marketplaces Fill The Global Covid-19 Talent Gap

PYMNTS

Freelancers worldwide found themselves impacted by the new coronavirus as it shuttered businesses and stalled payments, with many gig workers now fulfilling critical roles to keep society moving as consumers retreat inside of their homes. Food delivery and Uber drivers, for example, are among those still able to work. Other freelancers such as wedding industry vendors saw their ability to work rapidly decline during the pandemic, sending them into their homes to hopefully outlast COVID-19 financ

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LinkedIn On Building The New Digital Corporate Commons

PYMNTS

With a little over 600 million worldwide users, LinkedIn was a household name long before the coronavirus cut an incredibly wide trench through the global economy in general, and the world of working in particular. The social media service for professionals was already the established, favored digital hub for professional networking, job hunting, talent scouting and corporate content.

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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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Crypto Businesses Overcome The Challenge Of Getting Banked

PYMNTS

The volatility of cryptocurrencies and their existence in what’s often a grey area of regulatory compliance make businesses operating in this sector an unattractive target for traditional financial institutions. Today, there remains a broad spectrum of positions that regulators and financial service providers hold when it comes to working with crypto businesses.

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CFPB Tapped To Help Distribute COVID-19 Payments

PYMNTS

The Consumer Financial Protection Bureau (CFPB) has made it easier for people to access stimulus CARES Act funds by removing some of the legal barriers barring banks from issuing the payments through prepaid accounts, according to a press release. Banks or other government agencies are usually unable to get direct deposits right to consumers if the banks are not in possession of the consumer’s account information.

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Travelex Reportedly Paid $2.3M Ransom To Hackers

PYMNTS

Travelex, the foreign exchange company that was crippled by hackers on New Year’s Eve, reportedly paid a $2.3 million ransom to get their systems back online, The Wall Street Journal reported. Sodinokibi, the alleged perpetrators of the cyberattack, claimed responsibility for the breach. The cybercriminals demanded $6 million in ransom with a promise that they would not release the sensitive information of Travelex customers, including birthdates and credit card numbers.

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Robots Take Center Stage In COVID-19 Crisis

PYMNTS

COVID-19 could mark the true rise of the robots in retail. As warehouse workers strike for better protective equipment and consumers show increased sensitivity around handling food, several new examples of robots filling in have emerged over the past few weeks. The robotic rise can be seen in two key areas: fulfillment and in-store. As an example, Ocado, Britain’s leading online grocer, has had to stress-test an experimental program to automate its warehouses.

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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.