A group of 70 industry executives from 37 countries called the “Global Payments Innovation Jury” reported how the B2B payments sector has “better profit potential” and the most innovation promise when stacked against B2C payment technology. Less competition in the B2B payments space, faster ACH, and lowered barriers to entry has a lot to do with it.
Mark Abell (@MarkAbellBanker) for Entrepreneur insists that if you want to sell your business in the foreseeable future, don't finance it on bad debt. The ticket to preparing your business for sale, he suggests, is selling underutilized assets, retiring as much debt as possible, and putting permanent financing in place for at least three years before sale.
CFOs losing sleep over financial reporting — AccountingToday
Financial reporting company Workiva together with FSN polled 977 international CFOs and senior finance professionals and a whopping 97 percent admitted they lose sleep over the integrity of their data when it's time to do reports. Part of the problem is a dependency on IT, fragmented data sources, and filling reporting process gaps with unreliable spreadsheets.
When fintech first came on the scene, it was heralded as a disruptor of traditional banking. But as it's matured in the public eye, we are seeing it less as an open threat to bank's market share and more as an ally. Banks still rely on fintech for fast innovation and experimentation and fintech still needs the scale and customers a bank partnership offers. What appears as rivalry to outsiders, is much more symbiotic in nature.
Camilla Hodgson (@CamillaHodgson) for Business Insider reports more efficient banking for SMEs is within sight for London-based fintech startup Tide, securing a historic 14 million in a Series A round of funding. Tide aims to make opening a business account more affordable, and easier than ever in bypassing bank fees and requiring only a passport or driver's license to open an account.
See what you missed in the previous edition: Weekly Ledger 44