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The paper check continues to be a prominent — and, in many cases, dominant — payment method in B2B transactions. Although new technology is appealing, treasury and finance professionals tend to stick with what works for them, and their vendors,” said AFP President and Chief Executive Jim Kaitz in a statement this week.
corporates accelerated their cash collection in the third quarter compared to the previous quarter, the AFP said in an announcement on Monday (Oct. The report, underwritten by BMO, surveyed corporate financial and treasury professionals to assess trends in how they are reserving corporate cash. In another statement, BMO Head of U.S.
While corporates are adopting stronger internal controls to combat the threat of payments fraud, new data from the Association for Financial Professionals (AFP) reveals the number of incidents has continued to climb to new heights. ”
. “The Tax Cuts and Jobs Act implementation could cause businesses to have extra capital to deploy, but it is even more encouraging that organizations expect to have cash on hand through the normal course of business in the coming year,” said TD Bank’s manager of treasury management sales, Tom Gregory, in a statement at the time.
New research from the Association for Financial Professionals (AFP) released Monday (May 22) found 80 percent of corporate treasurers agree the role has become more strategic in the last three years. The same amount of survey respondents also said the role of the treasury department will continue to devolve and become even more strategic.
A new report from treasury management technology firm Kyriba and CFO Research Services offered CFOs a chance to lay out their wish lists for their treasurer peers, with chief financial officers pushing the treasury function to embrace a more prominent role.
Corporate treasurers are building up cash reserves as concerns about the economy grow, according to a new survey conducted by the Association for Financial Professionals (AFP). The AFP’s latest Corporate Cash Indicators index , released Monday (Oct. In response, treasurers are stockpiling company cash.
In their Strategic Role of Treasury Survey , the AFP and Marsh & McLennan identified the forces pressing companies to shift the treasury department into a more strategic position. Capital allocation, financial risk management, and treasury and payment technologies are also key areas of focus, researchers found.
The statistic, released by East & Partners in its Treasury FinTech Index , reveals that the U.S. A +7 point increase in the AFP’s Corporate Cash Indicators report means U.S. 26% of U.S. corporate treasurers plan to spend more on FinTech next year , but it may not be anything to celebrate.
Amid this trend, the population of challenger, digital-first banks targeting small businesses directly continues to climb, particularly in the U.K., As FinTech firms identify shortcomings in traditional FIs’ services for SMBs, those FIs continue to invest in new technologies and services for their large institutional and corporate clients.
The Association for Financial Professionals (AFP) came out with some scary statistics this month: B2B payments fraud is not only on the rise, but at its highest levels ever since the AFP began recording this information. The huge increase last year was so big that I didn’t think it would continue this way.
Many thousands of SMBs continue to struggle with managing the paper check and postal mail cycle, and it’s not limited to smaller businesses. Close to one-quarter of AP pros surveyed also want to bring ePayables and virtual cards online for treasury operations. Those options couldn’t come at a better time.
The findings were detailed in the latest 2016 AFP Liquidity Survey , underwritten by State Street Global Advisors (SSGA). “Bank relationships continue to grow in level of strategic importance for organizations,” said AFP CEO and President Jim Kaitz in a statement. The report was published on Tuesday (July 12).
“The IRS is ready to deal with direct deposit if you have a regular bank account, and they are ready to deal with paper checks, [but] they are not used to dealing with [more] payment methods on a widespread scale,” said Linda Jun , senior policy counsel for the AFP. “I Mastering Multichannel Commerce Playbook.
Corporate treasury is now more strategic for the enterprise, meaning chief financial officers and treasurers must be close-knit with their organizations’ boards of directors. ” Their concerns aren’t baseless, either. The Data Connection.
Superior Press , a treasury management solution provider for commercial banks, is acting on that need. Separate data from the Association for Financial Professionals (AFP) found use of the paper check increased in 2016. banking system, too,” the executive continued, adding that the U.S. The expansion of ACH across the U.S.,
More recently, the Association for Financial Professionals’ (AFP) 2017 Risk Survey found nearly half of businesses say their exposure to uncertainty is higher than it was three years ago, and 51 percent say forecasting risks will be more difficult three years from now than it is today. It’s going the right way now,” he said. “We
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