Articles
Physical Accounts and Virtual Accounts Compared
There are some key differences between traditional physical bank accounts and virtual bank accounts. Specific functionalities vary between banks and according to the jurisdictions in which the virtual accounts are being used.
There are some key differences between traditional physical bank accounts and virtual bank accounts. Specific functionalities vary between banks and according to the jurisdictions in which the virtual accounts are being used.
06/12/2025
Achieving Enhanced Efficiency Gains Through Virtual Account Management
The initial adoption of virtual accounts typically leads to major efficiency gains, as multiple physical bank accounts are rationalized into a single virtual account management (VAM) network.
The initial adoption of virtual accounts typically leads to major efficiency gains, as multiple physical bank accounts are rationalized into a single virtual account management (VAM) network.
05/30/2025
Overcoming Check Challenges for AP and AR
As both the federal government and payments industry stakeholders work to curb check usage, the days of check payments may be numbered. As new payment methods proliferate, many accounts payable (AP) and accounts receivable (AR) departments would like to eliminate checks altogether to reap the benefits of more efficient digital payments.
As both the federal government and payments industry stakeholders work to curb check usage, the days of check payments may be numbered. As new payment methods proliferate, many accounts payable (AP) and accounts receivable (AR) departments would like to eliminate checks altogether to reap the benefits of more efficient digital payments.
05/29/2025
Creating an FP&A Function at The Fujitsu Group
This case study explores how Fujitsu formed a new financial planning & analysis (FP&A) function at its global headquarters in Japan and trained its staff — many of whom were from non-finance backgrounds — to become FP&A professionals.
This case study explores how Fujitsu formed a new financial planning & analysis (FP&A) function at its global headquarters in Japan and trained its staff — many of whom were from non-finance backgrounds — to become FP&A professionals.
05/27/2025
Is Your AP Function Ready for ISO 20022?
ISO 20022 is a common global standard for cross-border transactions that uses extensible markup language (XML) syntax. Accounts payable (AP) teams need to be aware of some critical deadlines for ISO 20022.
ISO 20022 is a common global standard for cross-border transactions that uses extensible markup language (XML) syntax. Accounts payable (AP) teams need to be aware of some critical deadlines for ISO 20022.
05/22/2025
Days Sales Outstanding (DSO)
Days sales outstanding (DSO) is the time between when a credit sale is made and the cash is collected from that sale.
Days sales outstanding (DSO) is the time between when a credit sale is made and the cash is collected from that sale.
05/21/2025
6 Ways Finance Leaders Are Managing Uncertainty
At a roundtable in Boston hosted by the Association for Financial Professionals (AFP) and Robert Half, finance leaders from various industries shared how instability is playing out differently depending on industry, business model and company size.
At a roundtable in Boston hosted by the Association for Financial Professionals (AFP) and Robert Half, finance leaders from various industries shared how instability is playing out differently depending on industry, business model and company size.
05/16/2025
4 Best Practices for Virtual Account Management
Virtual accounts are highly flexible and are used by all types of companies, from single entity organizations through to multinational corporations. While the technology underpinning each solution is the same, the use cases vary significantly. However, there are still some best practices that all potential adopters can follow.
Virtual accounts are highly flexible and are used by all types of companies, from single entity organizations through to multinational corporations. While the technology underpinning each solution is the same, the use cases vary significantly. However, there are still some best practices that all potential adopters can follow.
05/15/2025
Beyond the Bottom Line: Strategic Cost Management in Action
True strategic cost management is not a one-time fix — it’s a cultural shift. It requires alignment across leadership, better tools and data, and a willingness to challenge the status quo.
True strategic cost management is not a one-time fix — it’s a cultural shift. It requires alignment across leadership, better tools and data, and a willingness to challenge the status quo.
05/14/2025
How to Maximize Working Capital by Paying Faster
Today’s finance leaders are rethinking the traditional playbook. Through the strategic use of virtual cards, dynamic discounting and supply chain financing, they are extending days payable outstanding (DPO), generating rebates and reinvesting working capital more effectively.
Today’s finance leaders are rethinking the traditional playbook. Through the strategic use of virtual cards, dynamic discounting and supply chain financing, they are extending days payable outstanding (DPO), generating rebates and reinvesting working capital more effectively.
05/12/2025
Why Aren’t FP&A Teams Using the EPM Tools They Bought?
According to the 2025 AFP FP&A Benchmarking Survey, FP&A professionals are primarily using EPM tools for control and consolidation, not for advanced planning and forecasting.
According to the 2025 AFP FP&A Benchmarking Survey, FP&A professionals are primarily using EPM tools for control and consolidation, not for advanced planning and forecasting.
05/05/2025
5 Steps to Thriving in Your Corporate Culture
Corporate culture refers to the shared values, beliefs, attitudes and behaviors within a company that shape how employees make decisions and interact with others. Understanding corporate culture is critical to communicating more effectively, reducing conflicts and choosing actions that align with your company’s priorities.
Corporate culture refers to the shared values, beliefs, attitudes and behaviors within a company that shape how employees make decisions and interact with others. Understanding corporate culture is critical to communicating more effectively, reducing conflicts and choosing actions that align with your company’s priorities.
05/01/2025
All Aboard! Gaining Alignment Through the Strategic Investing Process
A prominent financial institution’s two-category approach to technology investments provided a framework for ensuring stable operations while allowing it to pursue targeted advancements. However, the company saw it had room to improve its strategic investment planning process in areas of alignment, planning, prioritization, resource allocation and execution.
A prominent financial institution’s two-category approach to technology investments provided a framework for ensuring stable operations while allowing it to pursue targeted advancements. However, the company saw it had room to improve its strategic investment planning process in areas of alignment, planning, prioritization, resource allocation and execution.
04/21/2025
How Financial Professionals Can Apply GenAI to Data Workflows
Today’s financial professionals often find themselves in Excel purgatory — the endless cycle of exporting data from enterprise resource planning (ERP) software, juggling multiple spreadsheets, and repetitive copying and pasting before finally creating pivot tables and charts. But by harnessing the power of Generative AI (GenAI), financial professionals can break this cycle.
Today’s financial professionals often find themselves in Excel purgatory — the endless cycle of exporting data from enterprise resource planning (ERP) software, juggling multiple spreadsheets, and repetitive copying and pasting before finally creating pivot tables and charts. But by harnessing the power of Generative AI (GenAI), financial professionals can break this cycle.
04/21/2025
10 Treasury Policies Every Company Should Have
Treasury policies help companies document and communicate to employees and contractors the expected standards for treasury processes. By setting a baseline for acceptable practices, the company can ensure consistency in how treasury activities are carried out.
Treasury policies help companies document and communicate to employees and contractors the expected standards for treasury processes. By setting a baseline for acceptable practices, the company can ensure consistency in how treasury activities are carried out.
04/14/2025
When Raising Long-Term Capital, Should Your Company Go Public or Stay Private?
As companies grow and their capital needs evolve, understanding how to navigate and leverage both public and private funding channels becomes essential for financial planning.
As companies grow and their capital needs evolve, understanding how to navigate and leverage both public and private funding channels becomes essential for financial planning.
04/03/2025
Optimize Finance Data Visualizations to Boost Cognitive ROI
When we’re forced to spend our cognitive resources processing inefficient visuals, we have less in the budget for critical business decisions or strategic thought. But with some psychology and thoughtful design choices, we can stop wasting cognitive resources and improve the cognitive return on investment.
When we’re forced to spend our cognitive resources processing inefficient visuals, we have less in the budget for critical business decisions or strategic thought. But with some psychology and thoughtful design choices, we can stop wasting cognitive resources and improve the cognitive return on investment.
04/02/2025
Will Businesses Follow the Feds and Eliminate Checks?
Checks continue to be a constant fixture in the U.S. payments space, despite major efforts by industry stakeholders to move both businesses and consumers to digital methods. But with the federal government now making an even bigger push to reduce check usage, perhaps the United States is finally reaching the tipping point.
Checks continue to be a constant fixture in the U.S. payments space, despite major efforts by industry stakeholders to move both businesses and consumers to digital methods. But with the federal government now making an even bigger push to reduce check usage, perhaps the United States is finally reaching the tipping point.
03/27/2025
The Power of Data Automation in Finance: Moving from Chaos to Clarity
In today’s fast-paced financial landscape, outdated systems aren’t just inconvenient — they’re costly. Scattered data stalls critical insights, manual workflows breed errors and static reports leave leaders flying blind. The solution? A shift from chaos to clarity through data automation.
In today’s fast-paced financial landscape, outdated systems aren’t just inconvenient — they’re costly. Scattered data stalls critical insights, manual workflows breed errors and static reports leave leaders flying blind. The solution? A shift from chaos to clarity through data automation.
03/26/2025
How to Reduce DSO: Best Practices for AR Professionals
A low days sales outstanding (DSO) ensures a steady cash flow and access to working capital. Accounts receivable (AR) teams can reduce DSO and unclog that flow with a few easy steps.
A low days sales outstanding (DSO) ensures a steady cash flow and access to working capital. Accounts receivable (AR) teams can reduce DSO and unclog that flow with a few easy steps.
03/26/2025
AFP Welcomed Largest Class of New CTPs in History
The Association for Financial Professionals (AFP) welcomed 974 new Certified Treasury Professionals (CTPs) in 2024, the largest class of new CTPs in history.
The Association for Financial Professionals (AFP) welcomed 974 new Certified Treasury Professionals (CTPs) in 2024, the largest class of new CTPs in history.
03/26/2025
Check Fraud Needs a Rebrand
Check fraud continues to be the top source of fraud in the United States, year after year. Despite mountains of evidence that checks are, in fact, among the least secure payment methods available, the message simply isn’t getting through to a lot of organizations. Why is that?
Check fraud continues to be the top source of fraud in the United States, year after year. Despite mountains of evidence that checks are, in fact, among the least secure payment methods available, the message simply isn’t getting through to a lot of organizations. Why is that?
03/20/2025
4 FP&A Technology Mistakes to Avoid
To help FP&A professionals avoid missteps with their technology, AFP brought together a panel of experts for a webinar discussing data management, enterprise performance management (EPM) software implementation, balancing finance and IT responsibilities, and the trust factor that is crucial to data-driven decision-making for executives.
To help FP&A professionals avoid missteps with their technology, AFP brought together a panel of experts for a webinar discussing data management, enterprise performance management (EPM) software implementation, balancing finance and IT responsibilities, and the trust factor that is crucial to data-driven decision-making for executives.
03/14/2025
7 Most Widely Used Treasury Skills to Acquire
Today’s treasury teams are embracing a more strategic role, optimizing capital allocation, managing risk proactively and ensuring their organizations remain resilient in an ever-changing global landscape. Given the evolving nature of treasury, continuous skills development is essential to career success.
Today’s treasury teams are embracing a more strategic role, optimizing capital allocation, managing risk proactively and ensuring their organizations remain resilient in an ever-changing global landscape. Given the evolving nature of treasury, continuous skills development is essential to career success.
03/13/2025
10 In-Demand FP&A Skills to Develop
Hiring managers expect FP&A professionals to have both hard skills, such as traditional finance and accounting expertise and technology proficiency, and soft skills, such as communication and business partnering.
Hiring managers expect FP&A professionals to have both hard skills, such as traditional finance and accounting expertise and technology proficiency, and soft skills, such as communication and business partnering.
03/05/2025
Customized In-house Bank Account Management Solution Transforms Treasury Operations
In a joint effort with IT, Clarion Partners developed a custom in-house system, BARS (Bank Account Request System), to streamline account opening, track account information and centralize documentation. The system has transformed their treasury operations, reducing risks and improving efficiency.
In a joint effort with IT, Clarion Partners developed a custom in-house system, BARS (Bank Account Request System), to streamline account opening, track account information and centralize documentation. The system has transformed their treasury operations, reducing risks and improving efficiency.
03/04/2025
Credit Card Processing Explained: What It Is and How It Works
Given the prominence of credit cards in the payments landscape, having a thorough understanding of credit card processing is important to optimizing payments solutions and managing costs effectively.
Given the prominence of credit cards in the payments landscape, having a thorough understanding of credit card processing is important to optimizing payments solutions and managing costs effectively.
02/24/2025
How to Decide Whether to Lease or Buy Capital Assets
Whether you’re expanding operations, upgrading technology or managing your real estate footprint, knowing when to lease and when to buy can significantly impact your company's financial flexibility and bottom line.
Whether you’re expanding operations, upgrading technology or managing your real estate footprint, knowing when to lease and when to buy can significantly impact your company's financial flexibility and bottom line.
02/21/2025
How a Fintech Used Machine Learning-Based Forecasting and Business Partnering to Improve Cost Optimization
This case study reveals how a finance organization can become a key driver of strategic execution by leveraging machine learning (ML)-based forecasting and embedded business partners.
This case study reveals how a finance organization can become a key driver of strategic execution by leveraging machine learning (ML)-based forecasting and embedded business partners.
02/19/2025
Creating an Effective Enterprise Risk Management Roadmap
This article guides finance professionals through the process of creating an ERM roadmap to elevate their organization's ERM efforts, emphasizing the importance of ERM in strategic decision-making and the role of feedback loops in this process.
This article guides finance professionals through the process of creating an ERM roadmap to elevate their organization's ERM efforts, emphasizing the importance of ERM in strategic decision-making and the role of feedback loops in this process.
02/18/2025
Getting ROI From AI in Finance
For the majority, unclear ROI remains a key barrier to AI adoption, along with related challenges in expertise and strategy. AFP brought together finance and AI experts to share their insights on how companies can obtain that elusive value from their AI investments.
For the majority, unclear ROI remains a key barrier to AI adoption, along with related challenges in expertise and strategy. AFP brought together finance and AI experts to share their insights on how companies can obtain that elusive value from their AI investments.
02/10/2025
Strategies for Managing Your Company’s Short-Term Investments
Short-term investment management revolves around three fundamental objectives: preserving principal (safety), maintaining liquidity and generating returns.
Short-term investment management revolves around three fundamental objectives: preserving principal (safety), maintaining liquidity and generating returns.
02/10/2025
An In-House AI Solution to Improve FX Exposure Forecasting Accuracy
Faced with a forecasting process that was time-consuming, labor-intensive and prone to error, the treasury team at ASML collaborated with its data science colleagues to create a fully automated AI-powered model.
Faced with a forecasting process that was time-consuming, labor-intensive and prone to error, the treasury team at ASML collaborated with its data science colleagues to create a fully automated AI-powered model.
02/03/2025
Managing Vendors to Prevent Fraud
No matter how sophisticated fraud solutions become, payments fraud still runs rampant in the business world. The 2024 AFP® Payments Fraud and Control Survey Report found that 80% of organizations experienced actual or attempted fraud in 2023 — an increase of 15 percentage points since the previous year. Thirty percent of those organizations were unable to recover the funds they lost.
No matter how sophisticated fraud solutions become, payments fraud still runs rampant in the business world. The 2024 AFP® Payments Fraud and Control Survey Report found that 80% of organizations experienced actual or attempted fraud in 2023 — an increase of 15 percentage points since the previous year. Thirty percent of those organizations were unable to recover the funds they lost.
01/29/2025
Interchange Fees Explained: What They Are and How They Work
Interchange fees can add up to considerable costs for organizations that accept card payments. Understanding what interchange fees are and how they work is important to managing these costs effectively.
Interchange fees can add up to considerable costs for organizations that accept card payments. Understanding what interchange fees are and how they work is important to managing these costs effectively.
01/27/2025
AFP FP&A Advisory Councils Reflect on 2024 and Look Ahead to 2025
AFP’s North America, Asia-Pacific (APAC), Middle East and Africa (MEA) Financial Planning and Analysis Advisory Councils (FPAACs) help AFP deliver insightful, relevant and timely content to our membership and the FP&A community worldwide.
AFP’s North America, Asia-Pacific (APAC), Middle East and Africa (MEA) Financial Planning and Analysis Advisory Councils (FPAACs) help AFP deliver insightful, relevant and timely content to our membership and the FP&A community worldwide.
01/27/2025
An Introduction to Account Analysis Statements
An account analysis statement is a comprehensive financial document that banks, typically in the United States, provide to corporate account holders, often monthly. It lists the fees for banking services provided to the corporate client and any offsetting earnings credits for deposited funds.
An account analysis statement is a comprehensive financial document that banks, typically in the United States, provide to corporate account holders, often monthly. It lists the fees for banking services provided to the corporate client and any offsetting earnings credits for deposited funds.
01/23/2025
How Behavioral Biases and Culture Impact Risk Management
The AFP community discussed behavioral biases and cultural considerations in risk management, how CFOs are constantly balancing risk versus reward, and how the treasury and FP&A functions each play critical roles in managing risk.
The AFP community discussed behavioral biases and cultural considerations in risk management, how CFOs are constantly balancing risk versus reward, and how the treasury and FP&A functions each play critical roles in managing risk.
01/17/2025
An Introduction to Project Management for Finance
Whether or not you are formally tasked with project management, having project management skills can help you better satisfy stakeholder expectations and build allies throughout the organization.
Whether or not you are formally tasked with project management, having project management skills can help you better satisfy stakeholder expectations and build allies throughout the organization.
01/09/2025
The Value of Payments Pre-Validation
By utilizing pre-validation, organizations can verify critical information before payments are sent, reducing fraud and errors while minimizing delays and providing a streamlined experience.
By utilizing pre-validation, organizations can verify critical information before payments are sent, reducing fraud and errors while minimizing delays and providing a streamlined experience.
01/09/2025
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