BuildYourFirm
APRIL 28, 2020
Join host Hugh Duffy as he has a conversation with Allan Koltin, CEO of Koltin Consulting Group. Koltin is a nationally recognized speaker and industry analyst. He has appeared on numerous local and national media platforms, spreading his industry expertise. The two discuss various topics, focusing heavily on the future of the business. Which strategies will work long-term?
PYMNTS
APRIL 29, 2020
Businesses that borrow money through the federal Paycheck Protection Program (PPP) can expect to be audited before the loans are forgiven, Treasury Secretary Steven Mnuchin told The Wall Street Journal. “One of the things that will be required is you will have to show a payroll report that you actually spent the money on payroll and other items that qualify for forgiveness,” he said.
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Katz,Sapper&Miller
MAY 1, 2020
It’s no secret that COVID-19 is impacting every business in complex ways. Even with many states planning to “reopen” their economies in the coming weeks, accessing capital and maintaining adequate cash flow continue to threaten many companies’ long-term viability.
Patriot Software
APRIL 29, 2020
Do you want to give your employees paid time off from work? If you choose to offer paid vacation days as an employee benefit, you might not know how many to provide. To stay competitive, take a look at the national average vacation time. Benefits of paid vacation time Before we dive into the average […]. The post Use the Average Vacation Time to Build Your Business’s Policy appeared first on Patriot Software.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
PYMNTS
APRIL 28, 2020
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).
PYMNTS
APRIL 29, 2020
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.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
PYMNTS
APRIL 28, 2020
After many weeks and months of social distancing, the world is now actively and audibly wondering when the economic recovery will begin. Visa ’s Executive Vice President and Chief Product Officer Jack Forestell told Karen Webster that it’s the wrong question to ask. The recovery, he contends, is already underway. The pandemic and the recovery aren’t two separate events that will happen in sequence — but are two connected happenings playing out contiguously.
PYMNTS
APRIL 28, 2020
Reinventing retail in the wake of COVID-19 may mean reinventing retail formats. As the discussion turns to reopening, non-essential locations — malls included — will need to consider old issues like total footprint and new ones like shopper distancing. “As retailers and brands grapple with big questions related to reopening stores, it’s clear from our findings that consumers have varying degrees of comfort within different store environments and formats,” said Greg Petro, CEO of retail testing c
PYMNTS
APRIL 29, 2020
For the first time since a small business loan program was launched, small lenders have been moved to the front of the line. On Wednesday (April 29) the U.S. Treasury Department and the Small Business Administration (SBA) said they will temporarily exclude big banks from the loan portal used to submit applications for the SBA’s Paycheck Protection Program (PPP) for eight hours.
PYMNTS
APRIL 27, 2020
As the coronavirus shows no signs of abating, customers are opting to make their purchases without setting foot in stores, CNBC reported. Dozens of retailers, from Dick’s Sporting Goods to Walmart , have added contactless shopping services, and it’s caught on. The number of orders placed online and picked up at stores surged 208 percent between April 1 and April 20 compared to a year ago, according to Adobe Analytics, CNBC reported.
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PYMNTS
APRIL 27, 2020
The latest round of checks under the massive U.S. stimulus program is set to go out in the next few days. The key groups who will receive these payments include people who aren’t required to file tax returns, such as those who receive Social Security, Supplemental Security Income (SSI) and veterans’ affairs benefits. In addition, tax filers who have recently provided bank information to the IRS will get the payments.
PYMNTS
APRIL 30, 2020
Shopping, like everything else in the business world, is falling into pre- and post- coronavirus pandemic reference points. Many retail technologies have benefitted from that schism, among them augmented reality (AR). Before the crisis hit, there were any number of ways to envision what, for example, a sofa would look like in a living room. Post-pandemic, showrooms are out of the question.
PYMNTS
MAY 1, 2020
With its walk-in business taking a large negative hit due to the coronavirus pandemic and stay-at-home orders, MoneyGram reported 57 percent digital transaction growth for the first quarter of 2020. The money transfer company said performance was driven by high client retention rates, market growth and strong demand for the company’s app. However, Chairman and CEO Alex Holmes said on a Friday (May 1) earnings call that the company’s walk-in business saw a sudden and abrupt impact starting with m
PYMNTS
APRIL 28, 2020
Shutdowns. Lockdowns. Shuttered branches. Banking may be forever altered. The ongoing coronavirus pandemic is disrupting financial services, as consumers pull back on spending, raise cash to deal with emergencies and take to ordering, well, everything online. In an interview with PYMNTS, Steve Salzer, senior vice president, legal and enterprise risk at PSCU , said that amid the disruption, opportunities are taking shape for credit unions (CUs) to cement their relationships with existing customer
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.
PYMNTS
APRIL 27, 2020
Financial institutions’ (FIs’) consumers and business clients expect instant access to needed financial services regardless of which devices they use, but reality can fall short of their expectations. Banks do not always have the budgets or resources to craft cutting-edge online and mobile experiences, although they can no longer afford to put off digital transformations.
PYMNTS
APRIL 29, 2020
New solutions continue to roll out as a result of open banking frameworks around the world and banks’ increasing willingness to collaborate with FinTechs. This week’s look at the latest in bank-FinTech collaborations reveals two new open banking initiatives from FinTechs designed to address back-office friction for banks. Meanwhile, other partnerships between banks and FinTechs embrace data sharing to target friction for joint small business customers.
PYMNTS
MAY 1, 2020
Businesses have a front-row seat to the market volatility resulting from coronavirus. As governments around the world work with financial institutions to connect these companies to capital, many firms are quickly recognizing just how drastically their financial worlds have been turned upside down. One business client of small business credit scoring company CRIF Realtime experienced this firsthand.
PYMNTS
MAY 1, 2020
The shaky coronavirus economy has promoted people to sock money at levels not seen since 1981. A Bureau of Economic Analysis report released on Thursday (April 30) indicated that the savings rate escalated to 13.1 percent in March, with people putting away $2.17 trillion. Comparatively, the savings rate in February was 8 percent. The savings rate peaked at 12 percent in December 2012 but dropped to 5.8 percent in 2013. .
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
PYMNTS
APRIL 28, 2020
The house (or the apartment or the studio or your parents’ basement) is increasingly becoming a focal point of daily life. Time, then, to picture the house as a bit more like home. As PYMNTS found in one recent study, “ Navigating The COVID-19 Pandemic: The Post Pandemic Reset ,” as many as 32 percent of consumers plan to do far less outside the home than they had done before the coronavirus hit.
PYMNTS
APRIL 28, 2020
The coronavirus pandemic has left consumers staying home when possible to stop the virus’s spread. It has also made them wary of taking on debt because their financial circumstances could change at any moment. These shifts have made digital banking and debit transactions more important than ever. Financial institutions (FIs) are now working to extend services into customers’ homes, for example, and consumers are making fewer credit card payments amid uncertainty over what their employment status
PYMNTS
APRIL 28, 2020
The new coronavirus swiftly impacted small- and mid-sized businesses (SMBs) rather harshly, with these entities now struggling to manage remote workers who need to send out paper invoices to suppliers and other business partners attached to checks. Moving from paper to digital has evolved for business-to-consumer (B2C) payments in recent years, but upgrading business-to-business (B2B) payments has taken longer.
PYMNTS
MAY 1, 2020
Facebook Inc. advertisers probably won’t “like” its subpar rating from a media industry watchdog. The Media Rating Council (MRC) review found that the California-based social media giant has failed to address advertisers’ concerns arising from an Ernst & Young audit over how it measures and reports data about video advertisements. . “The Committee felt strongly that the lack of response and detailed action plans by Facebook within 60 days would lead them to take negative action,” according
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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.
PYMNTS
APRIL 27, 2020
As consumers shop amid ongoing public health restrictions, they almost invariably reach for their credit cards — whether the physical varieties in their wallets or the digital versions stored on their browsers and mobile devices. Cash and brick-and-mortar transactions were already on the decline, but the pandemic is sure to hasten these trends. More than ever, credit cards are becoming the coin of the realm in the global connected economy.
PYMNTS
APRIL 28, 2020
As if closing stores, laying off workers and incurring mounting debt amid the coronavirus pandemic wasn’t bad enough, now retailers face another obstacle, Bloomberg News reported. Two of the largest providers of retail credit insurance, Coface SA and Euler Hermes Group SAS, have stopped writing policies covering Macy’s and other big stores, the news service reported.
PYMNTS
MAY 1, 2020
The COVID-19 pandemic could delay the rollout of 5G networks in the U.S. According to a report from The Verge , the warnings come as businesses cited the impact the coronavirus could have on their bottom lines as they reported their quarterly earnings. Analysts say they are waiting for the June data to make a final determination about whether the newest generation of wireless communication technologies that support cellular data networks will be put on hold in the U.S. .
PYMNTS
APRIL 26, 2020
A new shopping portal by Reliance Retail initiated testing just days after it was announced that Facebook would invest $5.7 million in digital assets into JioMart , a subsidiary of Reliance. JioMart is controlled by the billionaire Mukesh Ambani, and went live in several select neighborhoods in and around Mumbai recently after a deal that gives it control of 400 million Indian WhatsApp users currently on coronavirus-induced lockdown.
Advertiser: Paycor
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PYMNTS
APRIL 28, 2020
Starting last week, the COVID-19 stimulus funds began hitting the bank accounts of citizens nationwide. All in, the $290 billion program – part of the $ 2 trillion CARES Act that was passed earlier this month – will send $1,200 per adult and $500 per child to the vast majority of working- and middle-class U.S. households. . It is not a completely unprecedented effort on the part of the U.S. government.
PYMNTS
APRIL 25, 2020
The restaurant industry has been on a wild ride over the past six weeks, as stay-at-home orders have forcibly shut their doors and sent many scrambling toward digital channels – but successful players like Domino’s are already adapting. “We have taken 60 years’ worth of standard operating procedures and rewritten most of them in the last six weeks,” the pizza chain’s CEO Ritch Allison told CNBC’s Jim Cramer in a recent dial-in conversation.
PYMNTS
APRIL 26, 2020
Banks are bracing for fallout as more people struggle to make credit card payments due to lost paychecks amid the coronavirus pandemic, according to a report by The Wall Street Journal (WSJ). Credit card companies — Capital One, Discover, Synchrony — have been allowing people to pause payments for 30 days or more. Some are also reducing or forgiving late fees and eliminating interest charges.
PYMNTS
MAY 1, 2020
Tencent Holdings Limited has become a “substantial shareholder” of Afterpay , according to an announcement from the company. The Chinese technology firm purchased a 5 percent stake in the buy now, pay later (BNPL) company valued at approximately A$390 million per a published report. Afterpay’s co-founders, Anthony Eisen and Nick Molnar, said in the announcement, “We feel very privileged to welcome Tencent as a substantial shareholder in our business.
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"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.
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