6APRIL JUNE 2024CFO TECH OUTLOOKManaging EditorSarah DawsonAaron Pierce Ann Bennis Antony MosesVisualizerPresley MeadowSarah DawsonManaging Editoreditor@cfotechoutlook.comEditor's NoteEmail:sales@cfotechoutlook.comeditor@cfotechoutlook.commarketing@cfotechoutlook.com April - June - 2024, Vol - 10, Issue - 02 (ISSN 2644 - 2841)Published by ValleyMedia, Inc. To subscribe to CFO Tech OutlookVisit www.cfotechoutlook.com Editorial StaffAva GarciaJoshua Parker Paul BarberJoy ParkerCopyright © 2024 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.Accounts receivable (AR) financing is now the go-to solution for businesses to address the need to free up working capital, a prerequisite in today's financial landscape. Expectations for companies to offer a seamless purchasing experience with features like invoicing at checkout with 30-, 60- or 90-day terms are increasingly prevalent across industries, fueling the demand for AR solutions and services.In response, the AR market is poised for significant growth, driven by a focus on reducing days sales outstanding and enhancing cash flow. The global AR finance market is assessed to grow at a CAGR of 4.8 percent between 2020 and 2027, reaching a value of around USD 9.3 billion by the end of the forecast period.As online transactions continue to rise, there is an escalating demand for efficient, automated solutions in invoice processing and payment tracking. Simultaneously, innovations in AI, machine learning and cloud computing have revolutionized AR processes, leading to more accurate and faster invoice processing and payment reconciliation.This edition of CFO Tech Outlook features a thought-leadership article from Luis Juarez, Director of Financial Operations at FirstService Residential. He stresses the significance of adopting emerging technologies designed to streamline operations, reduce headcount and shorten the payables cycle. The edition also sheds light on insights from Richard Kung, Chief Financial Officer, CTBC Bank Corp. (USA), who emphasizes on the importance of deposits, particularly low-cost ones, for stable growth. He advocates investing in process improvement to leverage existing resources, which will yield significant returns.Along with these vital insights from industry experts, the edition features 1st Commercial Credit, a factoring company that helps businesses access funding quickly and easily. It offers a variety of financing solutions, including accounts receivable financing, purchase order financing, and trade payable financing, helping businesses grow.In this edition featuring Top AR Solutions and Services Providers in 2024, we hope you find the ideal partner to meet your company's unique needs and propel your accounts receivable processes into the future.Let us know your thoughts!Accounting solutions in the US have undergone a transformative shift by incorporating sustainability metrics into their reporting frameworks. This strategic adaptation provides stakeholders with comprehensive insights into a company's environmental impact and dedication to sustainable practices. The evolution of US accounting standards to include sustainability reporting empowers companies to identify, evaluate, and disclose significant sustainability risks.Integrating environmental accountability into financial reporting signifies a dedication to long-term value, expanding brand reputation, attracting investors, and gaining a competitive edge in an ethically driven market. Government initiatives and policies play a crucial role in fostering environmental accountability by offering incentives, tax breaks, or subsidies to companies embracing sustainable practices.The journey toward environmental accountability is an ongoing process, and cultivating a culture of environmental responsibility and transparency can serve as a guiding force for businesses aiming for a more sustainable future.In this issue of CFO Tech Outlook, we showcase leading accounting solutions providers in the US that form the cornerstone of streamlined financial management. These providers offer a comprehensive array of services and technologies designed to cater to the varied requirements of businesses, spanning from burgeoning startups to well-established enterprises. Highlighted companies Plus & Minus Software, HOC, and Tangicloud Technologies extend their services across diverse sectors, encompassing financial services, hedge funds, private equity, commodity trading, renewable energy, and utilities.The magazine also presents insightful perspectives from Michael McCoy, CFO at B. Riley Financial, and Brad Agee, vice president and accounts receivable manager at Amegy Bank. Their opinions underscore the critical importance of balancing technology and personalized services for accounting solution providers to thrive in an evolving industry. This equilibrium will ultimately shape the success of these providers in meeting the increasingly diverse needs of their clientele in the years ahead.ENABLING BUSINESSES TO OPTIMIZE FINANCIAL OPERATIONSDisclaimer: *Some of the Insights are based on our interviews with CIOs and CXOs
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