Press Releases
Vestigo Ventures has invested in SaaSWorks, a startup founded by veterans of HubSpot and Goldman Sachs, to help finance teams overcome data fragmentation and achieve a continuous, single source of revenue truth. The $6M seed round was led by Vestigo Ventures with participation from existing investors, including Conversion Venture Capital. SaaSWorks' flagship product, RevWorks, unifies and enriches CRM, billing, and transactional data to deliver audit-quality revenue insights.
The survey report jointly released by GTreasury and PNC Bank shows that 85% of CFOs and treasurers expect significant or moderate company growth from the end of 2022 to 2023, but 49% of respondents rank cost efficiency as their top strategic priority. The report also notes that 58% of companies have not yet established formal digital transformation plans, and 70% of treasury teams manage more than five subsidiaries with teams of no more than five people.
A new survey by Bottomline Technologies, conducted with Industry Dive, reveals that while 90% of CFOs rate their cash visibility as excellent or good, they seek better integration, real-time data access, and cloud adoption to close transparency gaps.
PowerPlan launched Data Hub, a suite of SaaS APIs designed for energy and utility companies, aimed at simplifying data access, improving analytical efficiency, and being compatible with both on-premises and cloud environments.
On January 10, 2023, Mintec announced the acquisition of AgriBriefing, which owns brands including Urner Barry, Strategie Grains, FeedInfo, and Tropical Research Services. This merger will create the world's largest agri-food price reporting agency (PRA) and data provider, covering 650 commodities and 21,000 time series, serving more than 5,000 clients across over 50 countries.
On January 10, 2023, Traceable AI announced it will help FDIC-insured financial institutions meet the FFIEC's latest cybersecurity compliance requirements. The FFIEC updated its guidelines in October 2022, explicitly listing APIs as an independent attack surface and requiring financial institutions to inventory and conduct risk assessments of APIs. Traceable provides features such as API discovery, risk scoring, sensitive data flow monitoring, and automated consistency scanning, and supports on-premises, SaaS, or cloud deployment.
RELEX Solutions and Legion Technologies announced a strategic partnership on January 11, 2023, aimed at integrating supply chain planning and workforce management technologies to provide retailers with more accurate demand forecasting, optimized scheduling, and real-time data sharing, thereby improving overall operational efficiency and return on investment. The two companies will showcase the results of their collaboration at NRF 2023.
The latest survey released by CFO.com shows that CFOs and corporate executives are generally cautiously optimistic in the face of potential economic recession risks in 2023. The survey, covering 500 financial and non-financial executives, found that although 99% of respondents expect budget cuts, most still anticipate moderate growth. Meanwhile, employee morale issues are prominent, with 78% of CFOs and 59% of non-financial executives believing that the "quiet quitting" phenomenon affects companies, and 50% of managers are actively seeking new jobs.
B Lab Global announced two new executive appointments on February 16, 2023: Clay Brown as Head of Standards, Certification, and Product Delivery, and Anand Sankaran as Head of Finance and Administration. Both bring extensive industry experience and will report directly to Chief Executive Eleanor Allen.
A survey of more than 6,000 accountants and auditors worldwide by Caseware International reveals that talent shortage has become the fastest-growing challenge in the accounting and auditing industry. Over 90% of respondents said it is difficult to recruit skilled talent, and more than 85% believe retaining talent is not easy. The report also notes that the industry is responding to these challenges and enhancing client collaboration by accelerating the adoption of tools such as cloud technology and data analytics.