Articles
Generative AI in Finance: 2 Big Questions, Answered
The race is on to understand how and when to apply generative AI, such as large language models (LLMs) and embedded copilots, in finance.
The race is on to understand how and when to apply generative AI, such as large language models (LLMs) and embedded copilots, in finance.
04/29/2024
4 Questions About Embracing AI in Finance, Answered
As finance directs more of its attention to artificial intelligence, many professionals face big questions about how to get started — and how to capitalize on the steps they have already taken.
As finance directs more of its attention to artificial intelligence, many professionals face big questions about how to get started — and how to capitalize on the steps they have already taken.
04/29/2024
5 Insights on AI Integration with FP&A
The speed at which advances in technology and automation are accelerating is unprecedented. While FP&A professionals have a strong desire to get ahead of the wave, the big question goes largely unanswered: Where do I start?
The speed at which advances in technology and automation are accelerating is unprecedented. While FP&A professionals have a strong desire to get ahead of the wave, the big question goes largely unanswered: Where do I start?
04/29/2024
Cash Flow Forecasting in a Global Media Company
The necessity for a centralized treasury, and subsequent centralized cash flow forecasting, at a prominent global media company operating across more than 150 countries had become critical. With its central treasury team based in the U.K., each of the 150 countries from which the company operates managed its own cash flow forecasting, leading to significant issues starting with funding and market liquidity risks and ending with financial market risk.
The necessity for a centralized treasury, and subsequent centralized cash flow forecasting, at a prominent global media company operating across more than 150 countries had become critical. With its central treasury team based in the U.K., each of the 150 countries from which the company operates managed its own cash flow forecasting, leading to significant issues starting with funding and market liquidity risks and ending with financial market risk.
04/26/2024
AFP Partners with ACBSP to Equip Students with In-Demand Skills for Finance Careers
AFP has partnered with the Accreditation Council for Business Schools and Programs (ACBSP) to further the reach of AFP’s University Partners Program (UPP).
AFP has partnered with the Accreditation Council for Business Schools and Programs (ACBSP) to further the reach of AFP’s University Partners Program (UPP).
04/24/2024
4 Ways to Reduce Payments Fraud
A significant increase in fraud activity occurred in 2023 compared to the previous year, with a staggering 80% of organizations reporting being targeted by attempted or actual fraud attacks, according to results from the 2024 AFP Payments Fraud and Control Survey, underwritten by Truist. This statistic underscores the persistent and evolving nature of fraudsters, who remain relentless in their efforts to infiltrate payment systems.
A significant increase in fraud activity occurred in 2023 compared to the previous year, with a staggering 80% of organizations reporting being targeted by attempted or actual fraud attacks, according to results from the 2024 AFP Payments Fraud and Control Survey, underwritten by Truist. This statistic underscores the persistent and evolving nature of fraudsters, who remain relentless in their efforts to infiltrate payment systems.
04/23/2024
AFP Survey Finds 80% of Organizations Experienced Payments Fraud in 2023
Eighty percent of respondents report that their organizations were victims of attempted or actual payments fraud activity in 2023, according to the 2024 AFP Payments Fraud and Control Survey, underwritten by Truist.
Eighty percent of respondents report that their organizations were victims of attempted or actual payments fraud activity in 2023, according to the 2024 AFP Payments Fraud and Control Survey, underwritten by Truist.
04/16/2024
5 Tips for Creating an Effective Financial Presentation
In the dynamic world of finance, the ability to craft compelling presentations is essential. When a presentation is effective, it serves as a bridge, simplifying complex financial concepts into digestible information that fosters clarity and understanding among diverse audiences.
In the dynamic world of finance, the ability to craft compelling presentations is essential. When a presentation is effective, it serves as a bridge, simplifying complex financial concepts into digestible information that fosters clarity and understanding among diverse audiences.
04/11/2024
Choosing the Right KPIs for Your Organization
Selecting the right KPIs involves careful consideration of your objectives, identification of key metrics, and ensuring relevance to industry and organizational priorities. Keeping the KPI selection process simple yet targeted, with a focus on a few meaningful metrics, allows for the clear measurement of success and progress.
Selecting the right KPIs involves careful consideration of your objectives, identification of key metrics, and ensuring relevance to industry and organizational priorities. Keeping the KPI selection process simple yet targeted, with a focus on a few meaningful metrics, allows for the clear measurement of success and progress.
04/08/2024
What Is a Treasury Management System?
A treasury management system (TMS) is an enterprise-wide solution that can oversee a range of financial activities at a global scale, including global liquidity management, FX transactions, financial risk mitigation, derivatives and bank account access.
A treasury management system (TMS) is an enterprise-wide solution that can oversee a range of financial activities at a global scale, including global liquidity management, FX transactions, financial risk mitigation, derivatives and bank account access.
04/03/2024
Ways FP&A Leaders Manage the Costs of AI in Finance
The costs associated with the use of artificial intelligence (AI) and machine learning can be numerous. When done well, AI can give you a competitive advantage in the marketplace. But how do you manage the costs of AI to ensure the benefits outweigh the costs?
The costs associated with the use of artificial intelligence (AI) and machine learning can be numerous. When done well, AI can give you a competitive advantage in the marketplace. But how do you manage the costs of AI to ensure the benefits outweigh the costs?
04/02/2024
Digital Finance Roadmap
How should you create a roadmap for your digital finance initiative? The roadmap you create will depend on the scope and vision of your project.
How should you create a roadmap for your digital finance initiative? The roadmap you create will depend on the scope and vision of your project.
04/02/2024
Improve Your Meetings by Asking These 2 Questions
We need to improve our meetings for productivity, speed and innovation. If your team is struggling to make meetings efficient and effective, ask these two questions: What is the purpose of the meeting, and who really needs to be involved?
We need to improve our meetings for productivity, speed and innovation. If your team is struggling to make meetings efficient and effective, ask these two questions: What is the purpose of the meeting, and who really needs to be involved?
04/01/2024
4 Tips for a Successful Treasury Transformation
Managing a treasury transformation project across multiple jurisdictions is complex because of the major differences in the financial environment and the regulatory landscape between the different countries.
Managing a treasury transformation project across multiple jurisdictions is complex because of the major differences in the financial environment and the regulatory landscape between the different countries.
03/25/2024
Developing Talent to Achieve Treasury Transformation
While treasury transformation projects are usually designed to improve operational efficiency, with a heavy reliance on technology to achieve the objectives, it is critical to manage and develop the treasury team.
While treasury transformation projects are usually designed to improve operational efficiency, with a heavy reliance on technology to achieve the objectives, it is critical to manage and develop the treasury team.
03/25/2024
How Important Is Technology to a Successful Treasury Transformation?
Effective use of technology is central to the success of most treasury transformations. Technology is often seen as the solution to treasury’s core problems, whether that is calculating positions and exposures or making payments and executing decisions.
Effective use of technology is central to the success of most treasury transformations. Technology is often seen as the solution to treasury’s core problems, whether that is calculating positions and exposures or making payments and executing decisions.
03/25/2024
Why Transform Treasury?
In a dynamic world, treasurers are under constant pressure to operate as efficiently as possible as they try to support their organizations’ business strategies. From time to time, there is an opportunity to effect change within the treasury department to enhance operational efficiency. This change can take many forms.
In a dynamic world, treasurers are under constant pressure to operate as efficiently as possible as they try to support their organizations’ business strategies. From time to time, there is an opportunity to effect change within the treasury department to enhance operational efficiency. This change can take many forms.
03/25/2024
Understanding Foreign Exchange Risk
Foreign exchange risk is the possibility that fluctuations in exchange rates between currencies will lead to financial loss. More commonly known as FX risk, foreign exchange risk is an important part of global treasury management.
Foreign exchange risk is the possibility that fluctuations in exchange rates between currencies will lead to financial loss. More commonly known as FX risk, foreign exchange risk is an important part of global treasury management.
03/25/2024
Net Present Value vs. Internal Rate of Return
Net Present Value (NPV) and Internal Rate of Return (IRR) are two fundamental tools used in finance to assess and compare investment opportunities to make business decisions. Often, it is helpful to use both measures at the same time.
Net Present Value (NPV) and Internal Rate of Return (IRR) are two fundamental tools used in finance to assess and compare investment opportunities to make business decisions. Often, it is helpful to use both measures at the same time.
03/19/2024
Treasury Transformation and Smart Safe Innovation Leads to Scalable Solutions
With the implementation of its smart safe and store treasury initiative, the treasury team at Casey’s General Stores was able to quickly resolve a myriad of issues, leading to significant increases in efficiency and cost savings.
With the implementation of its smart safe and store treasury initiative, the treasury team at Casey’s General Stores was able to quickly resolve a myriad of issues, leading to significant increases in efficiency and cost savings.
03/07/2024
Creating Alignment and Transparency Through a Driver-Based Model
A Vice President of FP&A was tasked with coming up with a budgeting system that worked for everyone. By prioritizing alignment and transparency, actively seeking collaboration, and developing trainings that effectively communicated with non-finance staff, the company successfully created a robust system prepared to meet the demands of any current or future scenario.
A Vice President of FP&A was tasked with coming up with a budgeting system that worked for everyone. By prioritizing alignment and transparency, actively seeking collaboration, and developing trainings that effectively communicated with non-finance staff, the company successfully created a robust system prepared to meet the demands of any current or future scenario.
03/05/2024
The FP&A Role in Driver-Based Modeling
An FP&A team turned to driver-based modeling to align finance, strategy, culture and operations. When the owners of certain drivers understood the impact of certain events or occurrences on the company, they would be in a better position to create positive change — to accurately steer their financial strategies.
An FP&A team turned to driver-based modeling to align finance, strategy, culture and operations. When the owners of certain drivers understood the impact of certain events or occurrences on the company, they would be in a better position to create positive change — to accurately steer their financial strategies.
03/05/2024
5 Warning Signs Your Technology Expenses Are Too High
AIQ recently compiled data from more than a decade of procurement consultations and found that enterprises are paying technology prices that are, on average, 79% higher than what market conditions warrant.
AIQ recently compiled data from more than a decade of procurement consultations and found that enterprises are paying technology prices that are, on average, 79% higher than what market conditions warrant.
03/01/2024
Is Now the Time to Concentrate Cash Across Borders?
Treasurers across all types of companies are reviewing their approach to liquidity management with a view to using internal cash more efficiently. These reviews are being driven by four factors.
Treasurers across all types of companies are reviewing their approach to liquidity management with a view to using internal cash more efficiently. These reviews are being driven by four factors.
03/01/2024
AFP Survey Finds Increased Support for FP&A Professional Development
Companies are providing increased levels of support for FP&A professional development. Overall, respondents of the 2024 AFP FP&A Benchmarking Survey, underwritten by Workday, rate their satisfaction with company-offered professional development opportunities a 3.5 on a 1-to-5 scale.
Companies are providing increased levels of support for FP&A professional development. Overall, respondents of the 2024 AFP FP&A Benchmarking Survey, underwritten by Workday, rate their satisfaction with company-offered professional development opportunities a 3.5 on a 1-to-5 scale.
02/29/2024
FP&A Leaders Discuss the Role of AI in Finance Today
Members of AFP’s North America FP&A Advisory Council discussed their AI goals for 2024. Their goals spanned the spectrum, from those who are just starting to look into AI to those who have a multi-pronged plan for implementation.
Members of AFP’s North America FP&A Advisory Council discussed their AI goals for 2024. Their goals spanned the spectrum, from those who are just starting to look into AI to those who have a multi-pronged plan for implementation.
02/27/2024
The Global Resilience Federation on Evaluating Your Organization’s Resilience
The ORF offers a set of guidelines and tools designed to aid companies in recovering immutable data while also minimizing disruptions to services. What sets this framework apart is its focus on both data recovery and service continuity, providing a comprehensive approach to resilience.
The ORF offers a set of guidelines and tools designed to aid companies in recovering immutable data while also minimizing disruptions to services. What sets this framework apart is its focus on both data recovery and service continuity, providing a comprehensive approach to resilience.
02/23/2024
Understanding Types of Payment Methods
When choosing a payment method, treasury professionals must prioritize three essential factors: the transaction amount, the recipient's destination and the timing of the payment. The objective is to ensure the precise and secure delivery of funds while maintaining alignment with the organization's financial goals and operational needs.
When choosing a payment method, treasury professionals must prioritize three essential factors: the transaction amount, the recipient's destination and the timing of the payment. The objective is to ensure the precise and secure delivery of funds while maintaining alignment with the organization's financial goals and operational needs.
02/22/2024
Challenges with Concentrating Cash Across Borders
Companies operating in more than one country often want to manage their cash in a similar manner. Pooling solutions, both physical and notional, are available that make it possible for multinationals to concentrate cash regionally and globally. Yet, there are still multiple hurdles facing multinational corporations that want to concentrate all their cash on a regional or a global basis.
Companies operating in more than one country often want to manage their cash in a similar manner. Pooling solutions, both physical and notional, are available that make it possible for multinationals to concentrate cash regionally and globally. Yet, there are still multiple hurdles facing multinational corporations that want to concentrate all their cash on a regional or a global basis.
02/21/2024
5 Common Types of Financial Charts for Data Storytelling
Financial charts help you tell the story that the data conveys, ensuring everyone in your audience understands the meaning behind the data. With the variety of charts that are out there, how do you choose the most appropriate chart? We’ve compiled a list of some of the most commonly used charts in finance.
Financial charts help you tell the story that the data conveys, ensuring everyone in your audience understands the meaning behind the data. With the variety of charts that are out there, how do you choose the most appropriate chart? We’ve compiled a list of some of the most commonly used charts in finance.
02/15/2024
AFP Partners with IACBE to Help Students Cultivate Essential Skills for Finance Careers
AFP has teamed up with the International Accreditation Council for Business Education (IACBE) to further the reach of AFP’s University Partners Program (UPP). The IACBE is a leading outcomes-based professional accreditation agency for business and management education in colleges and universities whose primary purpose is excellence in teaching and learning.
AFP has teamed up with the International Accreditation Council for Business Education (IACBE) to further the reach of AFP’s University Partners Program (UPP). The IACBE is a leading outcomes-based professional accreditation agency for business and management education in colleges and universities whose primary purpose is excellence in teaching and learning.
02/13/2024
Mastering Financial Agility: AFP's MEA Treasury Council Discusses Working Capital Amid Economic Adversity
Implementing effective working capital optimization techniques can alleviate immediate liquidity pressures and help ensure that companies who excel in the practice are better positioned to shift their focus towards long-term growth.
Implementing effective working capital optimization techniques can alleviate immediate liquidity pressures and help ensure that companies who excel in the practice are better positioned to shift their focus towards long-term growth.
02/09/2024
AFP Survey Finds FP&A Practitioners Are Techno-Optimists
Overall, FP&A practitioners view technology, data management and digital transformation as areas of opportunity and professional development, and they would eagerly apply added time and resources to those areas if they could.
Overall, FP&A practitioners view technology, data management and digital transformation as areas of opportunity and professional development, and they would eagerly apply added time and resources to those areas if they could.
02/07/2024
How to Conduct a Successful RFP for a Financial Service Provider
It's not always easy to figure out which FSP is the best fit for your organization. The decision to engage a specific FSP for one service or product can have ripple effects on how you manage your relationship with them. Whether an organization opts for a formal selection process depends on its procurement policy. One common selection method is the request for proposal (RFP) process.
It's not always easy to figure out which FSP is the best fit for your organization. The decision to engage a specific FSP for one service or product can have ripple effects on how you manage your relationship with them. Whether an organization opts for a formal selection process depends on its procurement policy. One common selection method is the request for proposal (RFP) process.
02/06/2024
Transforming FP&A Management Reporting & Planning
Flying in the face of 150 years of tradition, the CEO of a professional services company unveiled a strategic initiative aimed at fostering greater cohesion among the various operating companies, which had all been operating independently.
Flying in the face of 150 years of tradition, the CEO of a professional services company unveiled a strategic initiative aimed at fostering greater cohesion among the various operating companies, which had all been operating independently.
01/25/2024
Are Certified Professionals More Likely to Get Hired?
For decades now, we have been taught that the credentials that make for a standout job candidate or the best candidate for promotion are held almost exclusively in the hands of traditional education, i.e., a bachelor’s degree typically followed by a master’s degree. What if we told you that all evidence points to the fact that this is no longer the case? And what if we also told you that when it comes to getting ahead, professional certification is the key?
For decades now, we have been taught that the credentials that make for a standout job candidate or the best candidate for promotion are held almost exclusively in the hands of traditional education, i.e., a bachelor’s degree typically followed by a master’s degree. What if we told you that all evidence points to the fact that this is no longer the case? And what if we also told you that when it comes to getting ahead, professional certification is the key?
01/24/2024
Headcount Drivers to Manage Cash for Venture-Backed Companies
Cash is limited for startups, but with a dedicated FP&A function, companies can extend the runway, ensuring efficient operations and growth. Managing growth is hard; FP&A helps startups design their future and connect hiring milestones.
Cash is limited for startups, but with a dedicated FP&A function, companies can extend the runway, ensuring efficient operations and growth. Managing growth is hard; FP&A helps startups design their future and connect hiring milestones.
01/24/2024
A Career in FP&A vs Accounting
Moving into FP&A also requires a big shift in mindset. You will be going from reporting what happened to why it happened — and what’s likely to happen going forward. You will need to become future-looking, comfortable with ambiguity, and a creative, big-picture thinker.
Moving into FP&A also requires a big shift in mindset. You will be going from reporting what happened to why it happened — and what’s likely to happen going forward. You will need to become future-looking, comfortable with ambiguity, and a creative, big-picture thinker.
01/24/2024
North America FP&A Advisory Council Set to Drive Profession Forward
The AFP Financial Planning and Analysis Advisory Council (FPAAC) is instrumental in helping AFP deliver insightful, relevant and timely content to the membership and community. Using its three main functions of communication, thought leadership, and promotion and advocacy, over the past year, FPAAC contributed to many achievements in 2023.
The AFP Financial Planning and Analysis Advisory Council (FPAAC) is instrumental in helping AFP deliver insightful, relevant and timely content to the membership and community. Using its three main functions of communication, thought leadership, and promotion and advocacy, over the past year, FPAAC contributed to many achievements in 2023.
01/22/2024
What Treasury Professionals Need to Know About U.S. Beneficial Ownership Information Reporting
Since January 1, 2024, the Corporate Transparency Act (CTA) clock has begun for compliance with the Beneficial Ownership Information (BOI) Reporting Rule.
Since January 1, 2024, the Corporate Transparency Act (CTA) clock has begun for compliance with the Beneficial Ownership Information (BOI) Reporting Rule.
01/15/2024
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