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Yet, a new report from the Association for Financial Professionals (AFP) warned of only minuscule adoption of these tools so far, a trend that analysts described as “troubling.” “These technologies are disrupting every organization, especially the finance function.
Kicking off the first day of AFP, the conference for finance and treasury professionals held in Nashville, Tennessee this year, Mike Watercott, CTP, working capital consultant, US Bank, led a discussion on striking the balance in payments with Andy Sullivan, vice president of channel sales, Bottomline and Cynthia MacGeagh, treasury manager, Clayton (..)
While more businesses are not only shifting away from paper, but operating with an embrace of digitization, the AFP and JPMorgan warned that checks remain popular and are far from being gone for good in the corporate payments ecosystem.
In its report, TD Bank found that 58 percent of treasurers said they were optimistic about tax reform’s ability to positively impact their companies; more than a third said they expect the legislation to positively impact their companies’ finances in particular. The AFP again highlighted these tensions in its Q3 2017 report.
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. ”
A new report from the Association for Financial Professionals (AFP) found that only about a tenth of surveyed corporate treasurers are prepared for emerging technologies like blockchain and machine learning to disrupt the enterprise. That means RPA can handle simple, repetitive tasks as well as more complex tasks, the AFP explained.
For the 2016 AFP Electronic Payments Survey, released on Tuesday (Sept. “Treasury and finance professionals are indicating their support for Same Day ACH because they see the value that it brings to last-minute payments,” said AFP President and Chief Executive Jim Kaitz in a statement.
Second, for best results, it requires tight collaboration with related departments such as procurement, treasury and supply chain, among others. For that reason, relevant communities and resources for accounts payable extend beyond finance. First, it is collaborative, involving transactions with suppliers and other third parties.
Businesses have responded to the pandemic by tapping into their cash reserves, as around 32 percent of businesses plan to diminish their cash holdings in the next quarter, the Association for Financial Professionals (AFP) announced in a press release.
corporates ramped up their cash accumulation during the fourth quarter of 2019, a sign of a cautious approach to the economy, new research from the Association for Financial Professionals (AFP) said on Monday (Jan. 27), per a report from Yahoo! The Index jumped 22 points to +31 in Q4 compared to Q3 and increased 13 points year over year.
billion in small business financing from the government body — a new record overall and for the volume of its flagship lending program 7(a), which provides working capital financing, asset-based financing and refinancing support. The statistic, released by East & Partners in its Treasury FinTech Index , reveals that the U.S.
The 2020 Association for Financial Professionals (AFP) Payments Fraud and Control Survey underwritten by JPMorgan found that business email compromise (BEC) was the most noted origin of tried or actual fraud incidents in 2019, according to an announcement.
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.
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 Asset reported news on Monday (March 5) that its initial review of chief financial officers (CFOs), part of its ongoing Treasury Review 2018 initiative, found service quality to be the number one recommendation for treasurers and CFOs when choosing a financial services provider with cash management services.
It’s a way for us to pull our member constituents in banking and insurance and trade finance and more into a dialogue about the evolution of the transport markets.”. The two groups may exist in separate markets, but, the executive added, both are exploring global implications of distributed ledgers. “The Quaranta seemed to agree.
The 2008 global financial crisis forced traditional banks to pull back from small businesses (SMBs) considered too risky and unprofitable to finance, leaving a gap in the market for alternative lenders and FinTech firms to fill.
(The Paypers) The 2017 AFP Payments Fraud Survey , underwritten by J.P. Morgan, has revealed that three quarters of corporate treasury and finance professionals said their companies were victims of payments fraud.
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. ” Not all of these silos are easy to overcome, however.
The findings were detailed in the latest 2016 AFP Liquidity Survey , underwritten by State Street Global Advisors (SSGA). Researchers found that 90 percent of treasurers and corporate finance professionals cite their relationship with the bank as the top factor behind their decision to choose where to invest corporate funds.
“Although new technology is appealing, treasury and finance professionals tend to stick with what works for them, and their vendors,” said AFP President and CEO Jim Kaitz. FinTechs Move Money To Vendors Faster. It offers businesses a three-month repayment plan when 3Pay fronts the bill to pay for outstanding invoices.
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.
. “While adoption for consumer accounts is enhanced through regulatory drivers, adoption for business accounts is based on market interest,” she stated in her presentation at the Association for Financial Professionals’ AFP 2019 event.
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