What do accounts payable people hate the most? According to a new report, it’s the tedious, time-wasting invoice approval and payment process, followed closely by manual and paper-based processing. Other issues included lost invoices and lack of workflow deadlines. Nearly three-quarters of problems highlighted in the report involved lack of efficiency, visibility and control in the AP process. These are key drivers for adding or improving AP automation.
We’ve been enjoying a “Square Off” on CFO.com with finance professionals weighing in on the question, “Is an accounting background important for today’s CFOs?” Hell yes, says Dan Gotte. But other contributors aren’t sure that being a CPA or having hands-on accounting experience is an absolute must. The short answer is, it depends on the company and the industry. For the long answers, check out the whole series.
The role of the CFO is changing, and building the right finance team to meet the challenges of the future is a top concern, according to the CFO Indicator Survey from Adaptive Insights. CFOs need to start thinking differently about career paths and how to motivate the up-and-coming generation of finance professionals. Communication, relationship building, growth opportunities and minimizing busy work are all keys to attracting and keeping millenials.
Financial technology has been around for decades, so why is there so much buzz about it now? New technology is bringing change to all the pillars of finance at once, writes Oscar Jofre on Business.com. Banking, capital markets, private equity, insurance and even the regulatory system are being disrupted by new ways of thinking and doing things.
Want to read up on the juggernaut that is Fintech? The editors of Fintechnews Singapore have compiled the best reads on cryptocurrencies, peer-to-peer lending and the future of banks. Why not drop a copy of “Bank 3.0: Why Banking is No Longer Somewhere You Go But Something You Do” by Brett King or Nathaniel Popper’s “Digital Gold: Bitcoin and the Inside Story of the Misfits and Millionaires Trying to Reinvent Money” into your beach bag this summer?