Intelligent Issue 7 - Page 9


One-third of CFOs worry about paying employees on time

The imminent threat of a recession is increasing worry among

CFOs , forcing them to make short-term business decisions that may significantly impact growth levers for the long-term .
The priority concern is hitting sales forecasts in the next six to 12 months ( 91 %), as well as declining profitability and margins ( 42 %), meeting payroll ( 39 %) and going bankrupt / running out of cash ( 36 %), according to new survey data from Coupa Software .
CFOs will continue to face mounting hardships in today ’ s economic uncertainty and increasingly look to cut costs . Many have already resorted to layoffs , despite 86 % saying layoffs are a last resort to cut costs and 87 % recognising layoffs create longterm issues . That ’ s leading CFOs to prioritise alternate cost-cutting measures in 2023 , including increasing the price of products and services sold ( 38 %), enforcing stricter spending rules ( 33 %) and renegotiating supplier contracts ( 32 %).
“ Economic volatility calls for a strategy of managing costs intelligently , rather than hurrying to cut costs reactively . The
ability to do these hinges on having a wealth of data that is accurate and timely to inform decision-making ,” said Tony Tiscornia , CFO , Coupa Software . “ Resilient companies use intelligent spend data to execute in the present with urgency , but in a way that reduces the risk of unintended long-term negative consequences .”

Monash University launches digital ID card

device near a reader to securely enter campus buildings and facilities , make purchases ( e . g ., print documents and order food ), access transportation and more .

Students , faculty and staff at Monash University can now add their digital student IDs to their Apple Wallet or Google Wallet . As the mobile credential solution provider , Transact is offering these NFC-enabled digital IDs for Monash University .

Students and staff with a digital M-Pass can use their iPhone , Apple Watch and Android devices to complete any action that previously required a physical ID card . Students simply hold their
“ The new digital M-Pass stored in Apple Wallet or Google Wallet and enabled by Transact Mobile Credential enhances door access and contactless payment capabilities by putting student IDs right on student and staff ’ s mobile devices ,” said Nancy Langer , CEO at Transact . “ Monash can issue the digital M-Pass remotely without the need to see students in person or print physical cards , creating a safer , more cost-effective and more environmentally friendly process .”
To set up the digital M-Pass , Monash students and staff simply need to download the eAccounts app , authenticate with their university credentials and then add to Apple Wallet on iPhone or Apple Watch , or Google Wallet on Android phones . iPhone and Apple Watch users who add their mobile M-Pass to Apple Wallet can enable Express Mode , allowing them to access locations with just a tap without the need to unlock or even wake up their device . www . intelligentfin . tech