All posts tagged: CFOs

Trump could face “draconian remedy” if CFO’s possible perjury deal goes through

Trump could face “draconian remedy” if CFO’s possible perjury deal goes through

Published by skeptic

Judge Arthur Engoron, who is overseeing Donald Trump’s New York civil fraud case, has questioned whether a key witness, former Trump Organization CFO Allen Weisselberg, committed perjury during his testimony at the former president’s trial, The New York Times reported.  Engoron sent an email to Trump’s lawyers on Monday asking them to provide more information about a possible perjury deal that Weisselberg may be negotiating with the office of the Manhattan District Attorney Alvin Bragg.  The judge cited a recent Times article which reported on Weisselberg’s alleged talks with prosecutors about a potential guilty plea to perjury charges. Engoron asked the former president’s lawyers to submit letters “detailing to me anything you know about this that would not violate any of your professional ethics or obligations.”  “I do not want to ignore anything in a case of this magnitude,” Engoron said, suggesting that he might use the plea negotiations as grounds for excluding Weisselberg’s testimony entirely. Bragg’s office is not directly handling the fraud case, which was brought by New York Attorney General Letitia James, but …

Must-have tools modern CFOs need in growth-stage startups

Must-have tools modern CFOs need in growth-stage startups

Published by skeptic

Dan Allred is Liquidity Group’s ‌North America CEO. Allred is a fintech professional and spent two decades at Silicon Valley Bank (SVB), most recently as a Senior Market Manager and Head of the National Fintech practice. He is also a member of the board of directors for FS Vector and an adviser for Modern Treasury. Having spent several years heading Silicon Valley Bank’s fintech sector and now as Liquidity Group’s North America CEO, I’ve often encountered some tools that growth-stage startups should embrace to get the job done. The role of CFOs in growth-stage startups extends beyond traditional financial management. The pressure is to be precise and effective and build a workflow that reduces company workload without compromising quality. In fact, for many industries, fintech included, modernizing the CFO’s tech stack has become a prerequisite for success. The smart, modern CFO’s tech stack should include tried-and-true methods and embrace innovative tools. These tools should streamline financial tasks and support data-driven decision-making. This stack includes advanced solutions for financial planning and risk management, spend management, and …

Cobre secures M to help CFOs in Colombia automate corporate payments

Cobre secures $13M to help CFOs in Colombia automate corporate payments

Published by skeptic

If you don’t know your company’s financial status, it is difficult to make decisions for the betterment of the company. This is where Cobre comes in. The Colombia-based startup developed a corporate treasury platform to give chief financial officers more visibility and control over their company’s financial transactions, specifically, to centralize, digitize and automate their payment processes. Cobre’s is a two-pronged approach: First is the enterprise software that centralizes payment initiation and reconciliation for finance teams across the region. Second is the payment rails — built by the company itself — that allow for PIX-like instant payments and real-time data. All of that is accessible via API and compatible with any bank in Colombia, Jose Vicente Gedeon told TechCrunch via email. “[Building our own payment rails] is a long-game approach that takes time but delivers the best, most direct and most customizable experience for clients,” Gedeon said. “It has allowed us to act as a universal translator for each bank, ERP (enterprise resource planning) and company. That way, we can skip the unnecessary intermediation that …

How CFOs can reduce SaaS spend by 30% in these tough times

How CFOs can reduce SaaS spend by 30% in these tough times

Published by skeptic

CloudEagle founder and CEO Nidhi Jain has over two decades of leadership experience in companies like ServiceNow, Box, Intuit, and Yahoo. She was an investment banker at Goldman Sachs and was part of VC funds such as New Vernon and Westbridge Capital. In today’s business world, every dollar counts for more than ever before. The current economic downturn, funding crunch, and race to be cash-flow positive are forcing organizations to reevaluate budgets and spending patterns. This has pushed CFOs to issue mandates — cut software spend between 10% and 30%. Based on data available from my company’s platform, spend on software is now the third-biggest expense for organizations, right after employee and office costs. CFOs must work closely with CIOs and department heads to devise smart plans to cut their SaaS spend and get more bang for their buck. At the same time, reducing software spend should not negatively impact company growth or inhibit innovation. The primary objective for CFOs should be to identify where they’re spending, recognize departments with the highest costs, and identify …

Will software for CFOs create a bright spot in a battered fintech market?

Will software for CFOs create a bright spot in a battered fintech market?

Published by skeptic

The comedown from the venture capital boom of 2021 has shaken up much of the startup world, but the dearth of capital has shown up sharply in one particular niche: fintech. CB Insights data indicates that after reaching a peak in 2021, funding to fintech startups across the world dropped a drastic 46% to $75.2 billion from $139.8 billion a year ago. Early 2023 data is still trickling in, but we’ve yet to hear from anyone that venture funding to fintech will rebound. Yes, Stripe’s $6.5 billion raise might skew tallies somewhat, but let’s not forget that it’s also a down round. The Exchange explores startups, markets and money. Read it every morning on TechCrunch+ or get The Exchange newsletter every Saturday. But fintech is broad, encompassing everything from Chime and Alpaca to Brex. In fact, it’s nearly too broad a group to be of much use. You have to dig deeper and be more specific to get a clearer picture of its evolving trends. This brings us to CFOs, everyone’s favorite person in a …