Tesla stock hits $500 for the first time

Tesla | January 13, 2020

Tesla stock continued to rally Monday, rising 5% and passing $500 per share for the first time. That puts Tesla at a fresh all-time high as it continues to soar on its entrance into China and optimistic delivery figures. The stock has more than doubled over the past three months, according to FactSet. The recent gains bring Tesla’s market cap to about $90 billion, which is nearly $5 billion more than that of General Motors and Ford combined. The companies’ market caps, which measure the value of their outstanding equity, don’t tell the full story, though.

Spotlight

Thomas Olsen, who leads Bain’s Strategy practice in the Asia-Pacific region, shares why banks need to take a long-term view.

Spotlight

Thomas Olsen, who leads Bain’s Strategy practice in the Asia-Pacific region, shares why banks need to take a long-term view.

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PAYMENTS

Esker Launches Esker Pay, a Comprehensive Set of Payment Capabilities and Strategic Fintech Partnerships

Esker | October 06, 2021

Esker, a global cloud platform and leader in AI-driven process automation solutions for finance and customer service functions, today announced the launch of Esker Pay, an extensive set of integrated payment capabilities and strategic Fintech partnerships to help businesses unlock cashflow. Fully integrated with Esker’s Procure-to-Pay and Order-to-Cash solution suites, Esker Pay helps businesses better manage cashflow by eliminating manual, complex, and inefficient processes for both accounts receivable (AR) and accounts payable (AP). Esker Pay’s end-to-end payment automation reinforces sturdy supply chains by providing early payment discounts and supply chain financing options, while also addressing fraud prevention, late fees and negatively impacted cashflow concerns. "The axiom that 'cash is king' has only been reinforced over the last 18 months. When times are tough for many businesses, getting paid and paying suppliers on time can be a tall order,” said Catherine Dupuy-Holdich, Product Manager at Esker. “With Esker Pay we offer the technologies and partnerships to facilitate and expedite payments.” Esker enables companies to achieve true positive-sum growth at a time when business success depends on it by facilitating an ecosystem where companies, customers and suppliers create value together — instead of at each other’s expense. For suppliers, prompt payment from customers results in secured cashflow. And for customers, paying suppliers and maintaining good relationships is key, as onboarding new ones can be costly and risky. Through partnerships with leading Fintech companies like Stripe, Corpay, Wind River Financial, Jack Henry, SisID, Pytheas Capital Advisors, Payroc and SlimPay, Esker Pay offers a range of payment capabilities, including: Domestic and international payments Supplier payment automation Supply chain financing (reverse factoring) Dynamic discounting Integrated payment methods (e.g., cards, direct debits, transfers, etc.) Factoring Early payment discounts Payment information verification “And this is just the beginning,” concluded Jean-Michel Bérard, CEO at Esker. “We will continue to enrich Esker Pay through technology developments and future partnerships to further optimize customer and supplier B2B payments, reduce risk exposure, and improve back-office efficiency.” Esker Pay is immediately available across the globe to all customers and prospects. About Esker Esker is a global cloud platform built to unlock strategic value for finance and customer service professionals, and strengthen collaboration between companies by automating the cash conversion cycle. Esker’s solutions incorporate technologies like Artificial Intelligence (AI) to drive increased productivity, enhanced visibility, reduced fraud risk, and improved collaboration with customers, suppliers and internally. Esker operates in North America, Latin America, Europe and Asia Pacific with global headquarters in Lyon, France, and U.S. headquarters in Madison, Wisconsin. For more information on Esker and its solutions, visit www.esker.com.

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SECURITY AND COMPLIANCE

Broadridge Upgrades International Post-Trade Client Onboarding Using PeerNova's Data Quality SaaS Platform

PeerNova | November 03, 2021

Broadridge Financial Solutions, Inc, a global Fintech leader, has deployed PeerNova's Cuneiform® Platform to streamline its customer onboarding process when implementing its international post-trade processing solution. Broadridge has a well-established track record of prioritizing client experience and implementing effective technologies to place its customers first. With the Cuneiform® SaaS Platform now in production, Broadridge is continuously monitoring and managing its data quality across internal and external client data sources. The platform quickly identifies, prioritizes, and resolves data quality challenges, and delivers data quality and business impact scorecards across the customer onboarding workflow. Today, more than ever, high-quality data is a critical ingredient that can help avoid unnecessary complexity when onboarding new customers. Broadridge continues to invest and innovate to ensure a complete, efficient, and well-controlled migration process. Using the Cuneiform SaaS Platform for data quality, Broadridge is reducing costs associated with onboarding, driving efficiency, and improving time-to-value, while confidently expediting its customer go-live dates." Danny Green, Head of Post-Trade Processing, Broadridge International "We are excited to work with Broadridge to help them further enhance their client experience," said Gangesh Ganesan, PeerNova's Founder and CEO. "Our platform is purpose-built to monitor data quality problems in real-time, and, in this case, to help Broadridge migrate client data quickly, effectively, and accurately every time." About PeerNova PeerNova's mission is to empower financial institutions to make confident and timely decisions using high-quality data. Cuneiform is a zero-code platform that provides data quality monitoring and exception resolution across internal and external data sources. The platform instills confidence in data by measuring data quality metrics and allowing users to resolve data quality errors quickly. This enables financial firms to increase operational efficiency, improve business performance, and address executive, stakeholder, and regulatory inquiries confidently and promptly. Founded by entrepreneurs with deep expertise in data and financial infrastructure, PeerNova is a Silicon Valley technology company with sales offices in New York and London.

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FINANCIAL MANAGEMENT

Bill.Com Has Agreed To Buy Invoice2go, A Leader In Accounts Receivable Software

Invoice2go | July 20, 2021

Bill.com, a leading provider of cloud-based software that simplifies, digitises, and automates complex back-office financial operations for small and medium-sized businesses (SMBs), announced today that it has signed a definitive agreement to acquire Invoice2go for approximately $625 million in stock and cash. Invoice2go is a major provider of mobile-first accounts receivable (AR) software that enables small businesses and freelancers to expand their client base, manage invoicing and payments, establish their brand, and much more. Invoice2go provides a huge global customer base of small businesses from headquarters in Sydney, Australia and Palo Alto, California. The acquisition will strengthen Bill.com's current accounts receivable product and contribute to the company's aim of making it simple to connect and do business. Through mobile and desktop applications, Invoice2go's AR solution enables businesses to engage and interact with their consumers, generate professional invoices, and simplify their AR operations. With electronic payments and Bill.com's platform and payments experience, there is a great opportunity to help businesses get paid faster and more conveniently. “We are making investments to expedite the adoption of our accounts receivable solution. Bill.com will get a top product and a highly skilled team with the acquisition of Invoice2go. It contributes to our plan of investing in our platform to become a one-stop shop for businesses to alter their financial processes, make and receive payments, and manage their cash flow. “With Invoice2go's worldwide workforce and client base, we will be able to service more businesses all over the world,” stated René Lacerte, CEO and Founder of Bill.com. “Today, paper checks are used in the majority of small business transactions. Nonetheless, we know from our customers that there is a significant push to digitally change and implement e-payments. When combined with Invoice2go's product capabilities, our payments knowledge and go-to-market capabilities can make it even easier for businesses to get paid swiftly and electronically. Bill.com and Invoice2go send billions of dollars in invoices each year that can be converted to electronic payments,” Mr. Lacerte said. “We are overjoyed to be partnering with Bill.com,” stated Mark Lenhard, CEO of Invoice2go. “By combining Bill.com's market-leading payments platform and broad market reach with Invoice2go's deep AR experience, we have created a one-of-a-kind opportunity to give SMBs and freelancers with a strong platform to automate their day-to-day financial operations and regulate their cash flow. I am equally excited for both firms' employees, who share a culture that stresses delivering innovation and excellent customer value to all small company owners.” Specifics About the Proposed Acquisition: The transaction has been approved by the boards of directors of both Invoice2go and Bill.com, and it is scheduled to conclude before the end of the calendar year, subject to regulatory clearances and other standard closing conditions. Bill.com will pay approximately $625 million for Invoice2go (75 percent in Bill.com Common Stock and 25 percent in cash), subject to standard adjustments for such transactions. About Bill.com Bill.com is a prominent provider of cloud-based software for small and medium enterprises that simplifies, digitises, and automates complex back-office financial activities. The Bill.com platform is used by customers to handle end-to-end financial workflows and make payments. The Bill.com AI-powered financial software platform connects businesses with their suppliers and clients. It aids in the management of cash inflows and outflows. The company collaborates with some of the leading financial institutions in the United States, the majority of the top 100 accounting firms in the United States, and popular accounting software providers. The company's headquarters are in San Jose, California. About Invoice2go Invoice2go is a technology startup that provides simple tools to freelancers and small businesses to help them with their day-to-day workflow. Users can utilise our software to expand their customer base, handle invoicing and payments, maintain financial wellness, create their brand, and much more.

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