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Although other segments of the business world have mostly embraced automation, accountants have been slow to do the same. Those who bill by the hour hesitate because they fear that automating some tasks will result in fewer billable hours. At the same time, they have concerns about the higher expenses involved with purchasing automation software. However, automation can benefit most accountants if they think of it in terms of freeing up their time and their mind to provide clients with clearer g
The fact that our connected devices are getting to know us pretty well is, by now, well-known. A phone that can unlock a hotel room door. A smartwatch that can call an Uber. A connected car that can not only help the driver find the closest burger joint, but can also order ahead. A voice assistant that can add stuff to a shopping list and then order and arrange for its delivery.
Yesterday, the Financial Accounting Standards Board (FASB) voted to approve proposals to amend the effective dates for several major Accounting Standards Updates (ASUs).
Payroll and human resource management solution provider Paychex has unveiled a range of new solutions and services at the 2019 HR Technology Conference & Exposition event late last month. In a press release , Paychex announced support for wearable technology through the planned debut of a smartwatch app that enables employees to automatically track time worked.
In the climb from contributor to leader, the rules quietly change. But if you’re aiming for the summit, the air gets thinner, and what got you here won’t be enough to get you to the top. 🗻 What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.
There will be 41.6 billion Internet of Things (IoT)-connected devices around the world by 2025. Consumers and businesses have increasingly employed the technology in a variety of use cases as it becomes more sophisticated, from smart cars to sensors that can be utilized for smart cities. The rise of 5G networks will also enable these devices to communicate more data across longer ranges, which is one of the reasons why investment in IoT is picking up.
As the digital economy grows, you can bet that crowdsourcing will become an even bigger part of innovation and disruption, along with hiring and investment — all of which will serve to help build only new companies but vital digital infrastructure. One big recent example in favor of such points comes from Goldman Sachs. A Goldman Sachs program called GS Accelerate enables Goldman employers to pitch their bosses on potential new companies, according to CNBC.
Renault has started a public trial of its on-demand car service on the Paris-Saclay urban campus, according to a press release on Monday (Oct. 14). A panel of around 100 people will use the service — provided by two electric, autonomous and shared Renault Zoe Cab prototypes — on the campus from Oct. 14 through Nov. 8. . Two cars with different features will be tested, with passengers able to hail them using the mobile app, Marcel Saclay, which was designed specifically for the ZOE Cab experiment
Renault has started a public trial of its on-demand car service on the Paris-Saclay urban campus, according to a press release on Monday (Oct. 14). A panel of around 100 people will use the service — provided by two electric, autonomous and shared Renault Zoe Cab prototypes — on the campus from Oct. 14 through Nov. 8. . Two cars with different features will be tested, with passengers able to hail them using the mobile app, Marcel Saclay, which was designed specifically for the ZOE Cab experiment
Drivers can’t make ends meet. Given the median income of roughly $25,000 a year and the number of hours required behind the wheel to earn that, drivers’ wages fall well below the federal hourly minimum wage. As independent contractors, drivers also have no benefits. After taking into account expenses like gas and insurance, there’s barely enough left over to meet their daily living expenses.
SoftBank and JP Morgan are in talks to rescue WeWork before it runs out of money, which is expected to happen by mid-November, CNBC reported on Tuesday (Oct. 15). Sources told CNBC that talks between SoftBank and JP Morgan have been ongoing ever since the startup’s IPO was pulled about two weeks ago. The bailout could involve equity from SoftBank and debt from J.P.
Global payments solution SnapPay announced the rollout of facial recognition payment technology for North American merchants. SnapPay said the technology gives users greater convenience and security when shopping at mainstream retailers. Although it is based on the same tech that is available now in Asia, SnapPay is initially launching in North America to select retailers.
Mastercard is teaming with the taxi ride-hailing app Curb to help the American Cancer Society’s Road to Recovery program, which provides free rides to patients going for cancer treatment, Mastercard announced in a press release on Monday (Oct. 14). “Taxis have long been a primary means of transportation for those unable to drive themselves,” said Amos Tamam, CEO of Curb Mobility.
The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.
With the unveiling of the first Amazon Go store in Seattle last year, multiple challengers have been inspired to offer new methods for shoppers to grab items from a store and avoid the checkout line. Standard Cognition and Zippin are two firms that are putting forward their apps and systems as alternatives to Amazon’s cashierless technology, The Wall Street Journal reported.
U.K. FinTech company Revolut wants to raise as much as $1.5 billion so that it can expand globally. According to The Financial Times , a source familiar with the matter revealed that the company has hired JPMorgan to raise $500 million in new equity from investors, as well as secure a $1 billion convertible loan. Launched five years ago, Revolut has almost 8 million customers, offering digital financial services through a mobile application including digital debit accounts, currency exchange, bu
At multiple restaurants operated by one of its franchisees, Outback Steakhouse is testing machine learning (ML) technology from Presto. The test is focused on the restaurant lobby, but could grow to the kitchen, curbside pickup and dining room areas, CNBC reported. Presto Founder and CEO Rajat Suri said the technology assists restaurants in fixing blind spots, noting that “managers can’t be everywhere at all times.
British cybersecurity software company Sophos is being acquired for $3.8 billion by U.S. private equity firm Thoma Bravo , Bloomberg reported on Monday (Oct. 14). Sophos’s three biggest shareholders — Apax Partners and founders Jan Hruska and Peter Lammer — agreed to a cash offer of $7.40 per share. The takeover is among the biggest private U.K. tech deals in recent years.
Finance used to be the function that counted, now it's the one that’s counted on. 📊 For accounting firms, controllers, and finance leaders, expectations are rising faster than headcount. Businesses want agile forecasts, granular analysis, seamless reporting, and smart automation—often without added resources while demanding uncompromised accuracy and compliance.
Wahlburgers, the burger bar and restaurant made famous for its association with movie star Mark Wahlberg, as well as a popular TV show, has introduced a mobile ordering app that offers exclusive rewards for users. The app allows customers to order on their phones, and to access limited-time offers, a store location feature and some exclusive content.
Everyone loves a good, free introductory offer: the month of free access to a streaming service, the free lift from a ridesharing service, the free meal kit delivered right to the front door. Brands know that customers like these offers, which is, of course, why they offer them. They are a great way to get that foot in the door with a consumer, and give them a chance to consider how much they might like to continue using the service — for a reasonable fee.
The trouble with existential threats is they very rarely show up and announce themselves. When Amazon launched in 1995, it looked to most as a one-trick eTailer that sold books online. A quarter-century later, that online bookstore has profoundly changed the retail landscape and every player operating within it. It would take the better part of two decades for most retailers to see Amazon as much more than a niche business responsible for a tiny fraction of all retail sales on a channel they nev
Mastercard has outlined its intentions with blockchain after its high profile exit from the Libra Association, a coalition of many successful companies meant to help guide and foster oversight of Facebook’s proposed cryptocurrency. “Following our withdrawal from the Libra Association membership process last week, we’ve received a great deal of interest in understanding how we evaluate technologies, programs and partners that have the potential to evolve the payments industry and enhance the valu
Great leadership development is the key to sustainable business growth. Are you ready to design an effective program? HR can use Paycor’s framework to: Set achievable goals. Align employee and company needs. Support different learning styles. Empower the next generation of leaders. Invest in your company’s future with a strong leadership development program.
The largest FinTech startup in Latin America — Brazil’s Nubank — is reporting a 25 percent increase in the number of clients since August, Reuters reported on Friday (Oct. 11). The digital bank said at the Brazil Investment Forum in Sao Paulo that it has 15 million clients, according to Nubank founder and CEO David Vélez. Vélez said that 10 million out of the 15 million clients are holders of the bank’s credit card.
New data from U.K. Finance shows that contactless payments in the country continue to grow. In fact, almost 50 percent of all debit card payments are contactless. In July of this year, cardholders in the U.K. made 1.5 billion transactions with their debit cards, which is a jump of 8.9 percent from the previous year. The total amount of the transactions was £50.7 billion ($63.8 billion), which is an increase of 1.4 percent from a year ago.
Chinese eCommerce platform Club Factory has raised $100 million in a Series D funding round as it plans expansion into India, sources reported on Friday (Oct. 11). The new funding was led by Qiming Venture Partners, Bertelsmann, IDG Capital “and other Fortune 500 companies from the U.S. and Asia,” the startup said. . Club Factory has raised about $220 million to date and has more than 70 million users.
In what is one of retail’s more amusing ironies, the floral industry is not particularly green. The products are, of course, but the industry itself – particularly the segment of the market dedicated to the delivery of fresh-cut flowers – does not have a particularly inspiring environmental record. Flowers are water- and power-intensive to grow – and delivering them on demand can burn a lot of fuel.
Distributed finance teams are rewriting how the back-office runs, and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats are more than just growing pains—they’re liabilities. The challenge isn’t just going remote. It’s building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.
While toilet paper seems like a product that should have been around for as long as there has been commerce, it actually is a fairly modern invention. Before 1857, the most common “toilet paper” in the United States actually consisted of pages from the Sears Roebuck catalog. That finally changed when one brave innovator, entrepreneur Joseph Gayetty, got the idea that a better alternative could be created.
Bunch Bikes Founder Aaron Powell went on vacation with his family three years ago and visited Copenhagen, Denmark and Malmo, Sweden. His family chose those locations because they are very bike-friendly cities, and they were interested in biking. While he was in those locations, Powell noticed there was a cargo bike (defined by one website as any bike designed to carry a load), family bike or something similar on “almost every single street corner,” he told PYMNTS in an interview.
The emergence of online shopping and eCommerce inevitably seeped into the B2B world, leading to rising demand for corporates to make purchases online the same way they do as consumers. For some firms, particularly smaller ones, or those with one-off purchases of simple products like office supplies, the translation of B2C eCommerce to B2B is relatively straightforward.
Price wars usually only have one winner: Consumers. Price wars tend to be decent short term strategies to lock in customers. But then, what happens when the price wars stop and pricing levels return to some degree of normality? Welcome, perhaps, to the eCommerce platform pricing wars. Bloomberg reported Monday (Oct. 14) that retail juggernaut Walmart is subsidizing some of its third-party vendors that sell across its online marketplace.
Documents are the backbone of enterprise operations, but they are also a common source of inefficiency. From buried insights to manual handoffs, document-based workflows can quietly stall decision-making and drain resources. For large, complex organizations, legacy systems and siloed processes create friction that AI is uniquely positioned to resolve.
Bengaluru-based Razorpay would like to work with the Reserve Bank of India (RBI) on new regulations that would make it mandatory for payments companies to comply with RBI’s entry point, technology, security, data storage and more. With that in mind, Razorpay has hired Amitabh Tewary, a vice-president at Mastercard, as its chief innovation officer to help increase its engagement with banks, networks, and regulators.
Earnings season happens every three months, like clockwork. Also, like clockwork, banks give a glimpse into the state of how interest rates and the economy are faring — and, of course, consumers’ willingness to spend. In general, banks have pointed to the continued resilience of the consumer, evidenced in JPMorgan’s increased card loans, and Citi’s 5 percent growth in card purchase sales.
A source has revealed that Brazilian lender Banco Inter SA is currently in discussions with Uber about partnering in financial services. The move is another move by Japan’s SoftBank Group — which is a shareholder in Uber — to integrate its business in Latin America. While the source wouldn’t comment on the terms of a possible deal, it would target the rideshare giant’s drivers and Banco’s more than 3 million clients.
Fast food and quick-service restaurants (QSRs) are much more about mass production than customization, no matter how many personalized options those operations offer hungry consumers. However, change is afoot, according to Tim Ridgely, head of order and delivery for Paytronix Systems , in a new PYMNTS interview. That could mean the QSR world will form relationship-like ties with consumers.
Speaker: Claire Grosjean, Global Finance & Operations Executive
Finance teams are drowning in data—but is it actually helping them spend smarter? Without the right approach, excess spending, inefficiencies, and missed opportunities continue to drain profitability. While analytics offers powerful insights, financial intelligence requires more than just numbers—it takes the right blend of automation, strategy, and human expertise.
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