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This blog is co-authored by Makesh Gupta and Rena Yu Ning Wang, and it is about our journey participating in the SAP.iO journey, with the idea of building a SAP Live Shopping Platform. Context: It was a late Friday evening and I was bored and so I did what I always do when most of us feel bored – pick up the phone and started scrolling through my social media feed – Facebook, instagram and then my latest favorite – TikTok.
Most would agree, 2022 has been a shocker. We have endured a year of price hikes, flat wages, and gas prices that hit all-time highs. In fact, the overall impact of inflation between November of 2021 and November of 2022 was 7.1%, and the impact of that kind of inflation on goods and services alone was even more dramatic. Consumers are now paying 8.5% more for goods and services than they were in March of 2021, according to the Bureau of Labor Statistics , U.S.
Photo by engin akyurt on Unsplash Creditworthiness refers to a business's ability to repay its debts. A customer that has a history of paying their debts on time and in full has clearly been creditworthy, but will they continue to pay within terms on their next order, or six months from now, or a year from now? The further you project into the future, the less certain you can be about your customer’s creditworthiness.
A 2022 study found that by September of that year, 63% of Americans lived paycheck to paycheck. Many of these people don’t think about how their spending habits will impact their future financial state. It’s easy to get so caught up in your daily wants and needs that you lose sight of your future financial goals. Although people don’t think of accumulating savings as exciting in the short term, it’s extremely important later on down the road. .
Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.
Introduction – SAP and Microsoft Webcast. Together with my colleagues Robert Boban and Goran Condric I run a weekly podcast (we should start calling it webcast…) about “ SAP and Microsoft ” and we just wrapped up the year 2022 in our episode 124. #124 – The one wrapping up 2022 (Jürgen Thomas) | SAP on Azure Video Podcast – YouTube.
December 29, 2022 (Sacramento, CA) – FLOCK Specialty Finance has again demonstrated their ongoing commitment to superior education for the receivables management industry through a sponsorship of the Receivables Management Association International (RMAI) 2023 Annual Conference. FLOCK is participating as a Gold Sponsor, the highest sponsorship level available.
December 29, 2022 (Sacramento, CA) – FLOCK Specialty Finance has again demonstrated their ongoing commitment to superior education for the receivables management industry through a sponsorship of the Receivables Management Association International (RMAI) 2023 Annual Conference. FLOCK is participating as a Gold Sponsor, the highest sponsorship level available.
Close-up of business document in touchpad lying on the desk, office workers interacting in the background. In Part 1 of the Rethinking Receivables blog series, we highlighted four strategies that all finance leaders should prioritize in 2023 in order to maintain a healthy cashflow and resilient business model. Now, in Part 2, we explore the influence and impact of AI-driven automation within accounts receivable (AR), how to spot a best-in-class solution, and how they benefit stakeholders throug
Many homeowners are not interested in refinancing because of high-interest rates. However, if you can reduce your current interest rate by at least 0.75 percentage points, refinancing tends to make sense. Let’s say that your average interest rate on your current mortgage currently is 3.3%. Considering current mortgage rates are almost double this figure , refinancing really isn’t a smart financial option.
I checked the top 10 blogs for data and analytics written in 2022 according to Likes. Really happy to see a lot of activity from SAP people which is very important to get latest information and a deeper understanding for current topics. I’m also a little bit happy to see that my blog about “Data Lake” was interesting for many people.
Inflation makes basic housing, energy, food, and transportation costs more expensive and causes economic stress for most people. Economic stress can make money management more difficult and unpredictable. If you are finding it challenging to pay your monthly bills or pay off your credit card balance in full each month, it is time to create a strategy to cut costs wherever you can.
Now that the festive season is behind you, what remains with you are the beautiful memories and of course, the huge holiday debt that you accumulated. As the new year kicks off, two factors can greatly impact your credit; how you pay (or not pay) your debt and how much of your available credit you […]. The post Tips for Paying off Holiday Debt Before it Hurts Your Credit appeared first on Credit Absolute.
Fear – noun – an unpleasant emotion caused by the belief that someone or something is dangerous, likely to cause pain, or a threat. I didn’t think I was scared of spiders until I came face to face with the largest spider I had ever seen before. I was in California talking to my wife on the phone. There I was, in mid-conversation, boasting about how nice the weather was–it was November and she was in a cold and wet England with two small children–when all of a sudden, I stopped talkin
Intelligent Situation Automation (ISA) extension of Situation Handling in SAP S/4HANA Cloud on the SAP Business Technology Platform ( SAP BTP). If you aren’t familiar with Situation Handling yet , read this blog post to find out more. Intelligent Situation Automation enables us to make Situation Handling even more intelligent and integrate cutting -edge technologies , such as Machine Learning and Knowledge Graphs. .
Even without working 5 days a week, Communications Manager Cheryl Nelson is an essential part of RMAI. In her role she is responsible for all of the graphic design needs of the company including branding for events, digital and print publications, and advertising. She was also responsible for the website and social media before someone new took on the role.
California has a long history of innovation and entrepreneurship, so it's no surprise that millions of small businesses call it home — 4.2 million of them, according to the U.S. Small Business Administration. Together, they account for a staggering 99.8% of California businesses.
Startup founders and managers rightfully question whether it is prudent to outsource accounting and bookkeeping or keep the work in-house. Chart out the positives and negatives of outsourcing accounting/bookkeeping projects and you’ll find the positives are significantly greater in number.
If you’re a Power User and someone who loves staying up to date with the latest news, updates, and content from the SAP and the SAP community, then you’ll definitely want to check out this tool: [link]. With the SAP RSS Feeds Generator, you can easily keep track of all the latest happenings from your favorite sources, including your own GitHub profile, SAP community following, SAP blog tags, SAP groups, SAP group events, SAP YouTube channels, and SAP podcasts.
It's time that we review our blog posts from the past year to discover any trending topics for 2023. In previous years, we've used this annual review to learn insights on how we can do better for our readers. Let us know if there's a topic that we can do better for you in the upcoming year. Here are the Accounts Receivable and Business Collections Trends for 2023.
Most-read blogs on financial crime in 2022 Synthetic ID fraud, AML quality control, and SAR writing topics were among Abrigo's top blogs on AML/CFT and fraud this year. . You might also like this list of the year's top resources for FinCrime professionals. READ. Takeaway 1 AML/CFT and fraud professionals often keep up to date on industry trends by reading Abrigo's blog.
Business owners and CEOs often wear a lot of hats in their organizations. Accounting and bookkeeping may not be one of their specialties, putting them at risk for lost payments, missed revenue, and preventing the company from growing as it should. Client accounting services (CAS) can help a business owner automate many financial tasks and maximize efficiency and profitability.
Ever since I came across ChatGPT, I’m in complete awe. For those of you who don’t know what it is is, ChatGPT, which stands for Chat Generative Pre-trained Transformer, is a chatbot developed by OpenAI. ChatGPT is built on top of OpenAI’s GPT-3.5 family of large language models , and is fine-tuned with both supervised and reinforcement learning techniques.
The Christmas period signals a slow-down for many UK businesses; Christmas excitement takes over and the majority of businesses close during part or all of Christmas and New Year celebrations. In order for businesses to maintain cash flow during this time, they must have an effective action plan in place to ensure the highest possible returns. Your Credit Management Function over Christmas and New Year: Remain consistent.
Fraud trends for financial institutions to watch for in 2023 Financial institutions should not expect a slowdown of any of 2022’s fraud trends. Be on the lookout in 2023 for the following trends identified by the FBI. You might also like this resource: "BSA/AML Risk Assessment Checklist." DOWNLOAD . Takeaway 1 Many typologies exacerbated by the pandemic continue to provide criminals success, and more complex schemes are surfacing.
It’s important to have a positive money mindset because it may help decrease stress and improve your overall well-being. It’s also the first step to becoming financially secure today and in the future. Creating a healthy mindset starts when you set goals, develop better money habits and define where you want to go financially. Here are nine steps you can take to develop good financial habits starting today. 1.
Background. With the aim of making workflow configuration simpler, SAP S/4HANA developed a brand-new concept called Flexible Workflow. It is advised that we make use of S/4HANA’s new Flexible Workflow feature. The preset workflow scenarios and tasks form the foundation of the flexible workflow. This gives users the ability to specify condition-based workflow for various system activities.
Do you love the smell of a freshly brewed cup of coffee in the morning? Does the thought of owning your very own local cafe and serving exquisite beverages to an eager crowd make your mouth water?bsp; If so, then opening a new coffee shop may be the perfect venture for you! There’s undeniably an … Continue reading "Open a Coffee Shop: Operational and Financing Tips".
Professional Credit’s mission to positively transform the account receivable industry improves the consumer and client experience through the application of cutting-edge technology and a focus on treating people with dignity and respect. We apply cutting-edge technology for our consumers’ and clients’ benefit and to improve our own employees’ lives.
You might be familiar with the blog post of my colleague about Subcontracting in Business ByDesign, that mainly focuses on how the logistics material flow in a subcontracting process can be modelled using two different sites in SAP Business ByDesign. In this blog post I want to have a deeper look into how one could set up the system to better align the production process with the service purchasing process.
Accounting businesses have long been an evergreen source of income for entrepreneurs and small business owners. While software like TurboTax has certainly decreased some of the demand for their services, accountants still remain incredibly important for millions of Americans who have complicated tax returns. As such, with the right strategy, starting one’s own firm can … Continue reading "How to Start an Accounting Business".
In this session I am going to discuss about the implementation of delta mechanism in SAP BODS. But before that we will go through few Transformations which is required for implement Delta Mechanism both for master data and transaction data flow. These major transformations are given below – 1. Table Comparison : Used to compare data between Source and Target Table/Flat files.
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