ReportWire

Tag: transformation

  • Your Workers Probably Think You Stink at Managing Change. Here’s How to Fix That

    [ad_1]

    “Intelligence is the ability to adapt to change,” according to renowned physicist Stephen Hawking. By that measure, the average manager is duller than a dusty rock orbiting a distant moon, according to new research that shows how bad organizations are managing change. Data from Virginia-based management consulting firm Eagle Hill Consulting found that a huge majority of employees across the country, across generations, feel this way about their employer. The news may prompt you to change how you communicate with your workers when big changes are afoot.

    In fact, in Eagle Hill’s survey of over 1,400 full-time and part-time U.S, workers, some three in every four workers feel this way—a statistic so large it can’t be an anomaly, nor easily dismissed as sour grapes complaints from disgruntled staff whose companies have undergone changes. 

    There’s some stark variations in the data though, with different generations having very different feelings about organization-wide changes, marking what Eagle Hill’s press release calls “generational divides, including differences in enthusiasm, stress, motivations, and perceived benefits of change that dramatically shape how employees experience transformation.”

    Gen-Z, the data show, is the “most optimistic workforce cohort” when it comes to change, with 70 percent saying “process changes made their organization better.” Only 45 percent of Baby Boomers feel the same, compared to just 36 percent of Gen-X workers (the weary “forgotten” generation that’s busy trying to juggle work-life balance and being the first generation caring both for their kids and aging parents at the same time.) Eagle’s data shows just how disheartened Gen-X is, with just three percent saying that “return-to-office changes improved their organizations” representing the “largest generational gap in the survey.”

    When it comes to feeling supported during change, the older generations also seem to feel worse: with just 18 percent of Baby Boomers saying their organization makes change easy to “embrace,” and only 20 percent of Gen-X agreeing. 

    Change, like launching work habit-upending tech like AI, mergers or dramatic business pivots, can be emotionally challenging, of course, and workers turn to their colleagues and workplace friends for support under transformational situations. More than one in four Gen-Z workers say workplace friends are their “most influential change supporters,” but just 23 percent of Millennials agree, and only 11 to 12 percent of older workers feel this way (again supporting the notion older workers are tired out, as well as underlining a trend that says the “workplace bestie” is a fading phenomenon.)

    The press release quotes Melissa Jezior, Eagle Hill’s president and chief executive officer explaining that the “findings point to a fundamental shift: a one-size-fits-all approach to change management is no longer sufficient.” If company management wants to make changes and see them “stick,” with renewed business habits and even cultural changes, leaders must tackle it as a “multi-generational experience, anchored in a shared purpose and tied to the different motivations, needs, and expectations that each generation brings to work.”

    Go inside one interesting founder-led company each day to find out how its strategy works, and what risk factors it faces. Sign up for 1 Smart Business Story from Inc. on Beehiiv.

    [ad_2]

    Kit Eaton

    Source link

  • Find More Pictures of Her Here>>

    Find More Pictures of Her Here>>

    [ad_1]

    Find More Pictures of Her Here>>

    [ad_2]

    Source link

  • Billionaires Row NYC 2024: Exclusive Manhattan Skyline

    Billionaires Row NYC 2024: Exclusive Manhattan Skyline

    [ad_1]

    Nestled in the heart of Manhattan, Billionaires’ Row in New York City has established itself as the gold standard for urban luxury living.

    Synonymous with wealth and prestige, this opulent stretch along 57th Street has transformed the skyline with its array of architecturally significant towers.

    Boasting unrivaled views of Central Park and Midtown, these residential skyscrapers offer an unparalleled level of extravagance and exclusivity. 

    These homes are equipped with state-of-the-art amenities and bespoke in-house services, catering to every conceivable need and desire of their affluent residents.

    Furthermore, the cultural significance and influence of Billionaires’ Row have permeated various aspects of life in the city, from the arts to the culinary scene, adding to the fabric of New York’s rich history.

    Key Takeaways

    • Billionaires’ Row epitomizes NYC’s luxury living, featuring skyscrapers with unparalleled amenities.
    • Influences NYC’s culture and economy, enhancing the city’s global prestige.
    • Notable residents include Michael Dell, Ken Griffin, and Sting, among others.
    • The average apartment price on Billionaires’ Row exceeds $20 million.
    • Continues to evolve, setting trends in luxury real estate and architectural design.

    Overview

    Billionaires Row in Manhattan, once a stretch of modest 19th-century living, has transformed into the epitome of luxury and modernity. Its journey began with the development of high-end retail and continued with the advent of luxury hotels and residential buildings.

    By the early 21st century, advances in construction technology and demand for luxury living catalyzed the rise of supertall skyscrapers. One pivotal moment was the construction of One57 in 2009, which set a new precedent for luxury and height.

    The transformation of this iconic skyline can be traced through a series of developments:

    • 2009: The inception of One57, which upon completion in 2014, became a hallmark of opulent living.
    • Follow-up Projects: The surge of development with the rise of 432 Park Avenue and 111 West 57th Street.

    New developments capitalized on their proximity to Central Park, intending to offer unparalleled views and amenities. As they reached into the sky, these residence towers featured ultra-luxury apartments, attracting a global elite clientele.

    The current landscape of Billionaires Row stands as a testimony to New York City’s architectural ambition and the desire for luxury living. Its history is marked by a consistent push towards greater heights, both literally in its buildings and figuratively in levels of affluence.

    Exclusive Residences on Billionaires Row

    Billionaires’ Row in New York City is synonymous with luxury and exclusivity, boasting some of the most prestigious and expensive apartments in the world. High above the bustling streets, these residences offer unparalleled views and amenities.

    One57, a trailblazer in luxury living, set the standard for the opulent skyscrapers that now define the Row. The One57 Penthouse is an example of the pinnacles of luxury, with a price tag to match its altitude as highlighted by Robbreport.

    Residence Description Highlights
    One57 Penthouse Situated atop the Park Hyatt Hotel 8 rooms, landmark views
    1930s Triplex Penthouse Features a timeless design Listed for $18.75 million
    432 Park Avenue Known for its sleek design One of the tallest residential buildings

    In addition to these notable buildings, the development of Billionaire’s Row began with One57 and continued with 432 Park Avenue, and several other structures that contribute to the skyline. The ever-evolving Row continues to add impressive projects, each vying for the attention of the world’s most affluent.

    Who Lives There?

    Michael Dell: In 2014, the Dell Inc. founder acquired a penthouse in One57 for an impressive sum of $100.47 million as per CNBC.

    Bill Ackman: This billionaire hedge fund proprietor secured an apartment in One57, shelling out close to $91.5 million for it according to Business Insider.

    Ken Griffin: Setting a new benchmark, the Citadel hedge fund originator purchased multiple floors at 220 Central Park South for a staggering $238 million.

    Sting: The iconic musician, alongside his wife Trudie Styler, invested in a penthouse at 220 Central Park South, paying around $65.7 million.

    Leonard Blavatnik: The Ukrainian-American magnate acquired a penthouse in 432 Park Avenue, with the purchase price estimated at $77.1 million.

    Daniel Och: The founder of Och-Ziff Capital Management acquired a lavish apartment at 15 Central Park West for approximately $93 million.

    Dmitry Rybolovlev: The Russian fertilizer tycoon owns an apartment in 15 Central Park West, which he secured for around $88 million.

    A notable resident previously linked to the area was David Koch, an influential financier and philanthropist. Also, the former New York City Mayor Michael Bloomberg has been associated with this illustrious locale, adding a layer of prestige to the community.

    Architectural Marvels and Design Excellence

    Billionaires’ Row in NYC encapsulates the pinnacle of contemporary architecture and design, a showcase of how the limits of luxury living are constantly being redefined.

    Pioneering Skyscrapers

    Billionaires’ Row is synonymous with the cutting-edge of skyscraper engineering. Buildings such as Central Park Tower claim the title of the tallest residential building in the world, with their elegant silhouettes defining Manhattan’s skyline according to architecturaldigest. 

    Interior Design Trends

    Each residence within these towering structures is a canvas for world-class interior designers. Luxurious interiors play with light, space, and materials to create bespoke environments that offer an unparalleled living experience. 

    Sustainable Building Practices

    Sustainability is also at the forefront of these developments. Many of the high rises on Billionaires’ Row integrate green technologies and sustainable practices, merging luxury with responsibility. They incorporate features like high-efficiency heating and cooling systems and use of sustainable materials, striving for a balance between upscale living and environmental consciousness.

    Amenities and In-House Services

    Billionaires Row in New York City prides itself on offering a suite of amenities and services that cater to every luxury living need. These exclusive services are designed for privacy, convenience, and indulgence, reflecting the status and lifestyle of its esteemed residents.

    Concierge and Security

    The concierge service at Billionaires Row is nothing short of world-class, providing residents with anything they require—from booking private events to securing hard-to-get reservations. Security is paramount, with 24/7 on-site presence and state-of-the-art surveillance systems that ensure safety and privacy for all inhabitants according to Vice.com.

    Concierge Services:

    • Private event planning
    • Exclusive reservations
    • Travel arrangements

    Security Features:

    • 24-hour surveillance
    • Personalized access control
    • Experienced security personnel

    Recreational Facilities

    Residents have access to a range of recreational facilities that rival top resorts, including on-site swimming pools, private theaters, and landscaped terraces. The social rooms and lounges provide exquisite spaces for entertainment and social gatherings, embodying the essence of high-end community living.

    Facilities Include

    • Indoor swimming pool
    • Private cinema room
    • Rooftop lounge

    Wellness and Health Services

    Health and wellness are given top priority with facilities such as a fully equipped fitness center and personal training sessions. Additionally, spas and on-demand massage services are available to support the well-being of residents, making self-care seamlessly accessible.

    Wellness Amenities

    • State-of-the-art fitness center
    • Personal trainers and nutritionists
    • Spa and massage services

    Real Estate Impact

    On Billionaires’ Row, real estate transactions are measured in the tens of millions, influencing market expectations and pricing strategies citywide. The sales within this district have been noted for their record-breaking prices, such as a double sale totaling roughly $33.75 million. These transactions often set benchmarks for luxury properties, creating a trickle-down effect on the surrounding real estate market.

    Art and Philanthropy Engagements

    Residents of Billionaires Row are often notable figures in art circles, regularly involved in philanthropic efforts that benefit New York’s cultural institutions. They may sponsor exhibitions at premier art museums or fund performances at iconic venues like the Lincoln Center. For example, contributions from these benefactors have led to the establishment of new gallery wings and scholarships for emerging artists. Such philanthropy has a ripple effect, fostering a vibrant cultural landscape across the city.

    Fashion and Lifestyle Statements

    The impact of Billionaires Row extends into the realms of fashion and lifestyle, where its influence is both conspicuous and trendsetting. The residents of this enclave often dictate high-end fashion trends, patronizing luxury boutiques along Fifth Avenue according to this source.

    Designers frequently draw inspiration from the lifestyles of the individuals in this locale, crafting bespoke pieces that capture the essence of Billionaire’s Row opulence. This phenomenon underscores its role as a benchmark for luxury living on a global scale.

    Technological Innovations in Luxury Living

    Residents in Billionaires’ Row enjoy the luxury of controlling their environment with state-of-the-art smart home systems. Everything from lighting, climate control, to entertainment systems can be managed with the touch of a button or voice command. High-end apartments have embraced technology like Creston or Control4 to provide unparalleled convenience and comfort.

    Transportation and Accessibility

    Billionaires’ Row in New York City is well-served by an array of transportation options. Located in Midtown Manhattan, residents and visitors have easy access to major subway lines, buses, and taxis.

    Subways: The area is highly accessible via the subway with several lines running through the vicinity. Key subway stations include:

    • 57th Street-7th Avenue: Serving the N, Q, R, and W lines.
    • 57th Street: Servicing the F line.
    • Columbus Circle Station: Access to the A, B, C, D, and 1 lines.

    Buses: Multiple MTA bus routes service the area. Major bus lines include:

    • M5, M7, and M104: These buses run along Broadway.
    • M57 and M31: These cross-town buses run East-West along 57th Street.

    Cycling: For those preferring to cycle, there are designated bike lanes and Citi Bike sharing stations readily available.

    Taxis and Car Services: Taxis are abundantly available, and car service options are prevalent, including ride-hailing apps like Uber and Lyft.

    Accessibility: The neighborhood’s central location ensures that whether by train, bus, or car, reaching other parts of the city or commuting to and from work is convenient. Nearby Penn Station and Grand Central Terminal offer further connections for longer-distance travel.

    Market Trends and Predictions

    2024 sees persistent high mortgage rates influencing the New York City housing market, likely leading to a modest decline in asking prices. The threshold that triggers the so-called mansion tax is at the $1 million mark, which may become a less frequent concern as prices adjust.

    • Price Adjustments: Prices are expected to settle modestly below the mansion tax trigger point.
    • Luxury Living: Despite the adjustments, Billionaires’ Row maintains its status as the epitome of luxury living.

    The demand for luxury properties on Billionaires’ Row may see fluctuations. Transactions in recent years indicate a blend of peak-performance sales and periods of market softening.

    • Sales Activity: A reliance on broader economic stability and buyer sentiment is evident.
    • Market Resilience: The resilience of this segment, despite economic turbulence, remains noteworthy.

    Market predictors highlight that just over one-third of listed properties were removed from the market without finding buyers, suggesting a competitive environment with discerning purchasers.

    • Inventory Dynamics: Property listings experience removal due to non-sale.
    • Buyer’s Market: Potentially transitioning towards a buyer’s preference scenario.

    Future projects and developments aim to continue the legacy of grandeur that defines the stretch of Manhattan’s 57th Street, mapping a skyline that is ever-evolving and increasingly opulent.

    • Development Continuum: The skyline continues to transform through forthcoming projects.
    • Opulent Outlook: Luxury living remains at the forefront of design and amenity offerings.

    Frequently Asked Questions

    What are the defining features of properties on Billionaire’s Row in NYC?

    Properties on Billionaire’s Row boast expansive floor plans, panoramic views of Central Park and the city skyline, high-end finishes, and state-of-the-art technology. The attention to detail and quality is unparalleled, catering to the tastes of the world’s most affluent individuals.

    How has the real estate market on Billionaire’s Row changed recently?

    In recent times, the real estate market on Billionaire’s Row has seen a shift towards even taller and more slender high-rises, nicknamed “supertalls.” The demand for luxury living has driven developers to push the boundaries of architecture and exclusivity.

    Which architects and designers are behind the most iconic buildings on NYC’s Billionaire’s Row?

    Renowned architects and designers like Christian de Portzamparc, who designed One57, and Adrian Smith + Gordon Gill Architecture, responsible for Central Park Tower, have contributed to the skyline of Billionaire’s Row, each building a testament to modern luxury.

    What amenities typically come with residences on Billionaire’s Row in NYC?

    Residences are equipped with amenities such as private dining rooms, state-of-the-art fitness centers, in-house spas, pools, concierge services, and in some cases, private parks and theaters. These are designed to offer a complete luxury living experience without needing to leave the comfort of home.

    Can you list some of the notable buildings that shape the skyline?

    Notable buildings include One57, Central Park Tower, and 432 Park Avenue. Each building contributes significantly to the unique silhouette of Billionaire’s Row, reflecting the pinnacle of luxury living.

    How does the luxury real estate of Billionaire’s Row compare to other upscale areas in NYC?

    Billionaire’s Row stands out even in a city known for luxury real estate. While areas like Tribeca or the Upper East Side are renowned for their opulence, Billionaire’s Row presents an unmatched level of grandeur, with cutting-edge architecture and the most sumptuous interiors designed for the world’s elite.

    Final Words

    Billionaires’ Row in New York City represents the zenith of luxury urban living, setting a global benchmark for architectural innovation, exclusive residences, and unparalleled amenities.

    As this iconic stretch of Manhattan continues to evolve, it not only reshapes the skyline but also reinforces New York’s status as a beacon of opulence and sophistication.

    The developments and residences along Billionaires’ Row reflect the aspirations and achievements of those at the pinnacle of success, offering a unique lifestyle that is the epitome of luxury and grandeur.

    As we look to the future, Billionaires’ Row will undoubtedly continue to captivate the imagination and desires of the world’s elite, maintaining its place as a symbol of the ultimate in luxury living.

    Disclaimer

    All information presented in this text is based on our own perspectives and experiences. The content is provided for informational purposes only and is a reflection of the personal views of the authors. It should not be taken as professional advice, nor should it be used as a basis for making significant decisions without consulting a qualified expert. We do not guarantee the accuracy or reliability of the information provided and shall not be held responsible for any inaccuracy, omissions, or inaccuracies. We highly recommend consulting with a qualified expert in the relevant field for personalized guidance or advice specific to your situation.

    [ad_2]

    Srdjan Ilic

    Source link

  • VerraDyne LLC Awarded Major Legacy Modernization Project With a State Educational Organization

    VerraDyne LLC Awarded Major Legacy Modernization Project With a State Educational Organization

    [ad_1]

    Press Release
    •

    Nov 7, 2023 18:00 PST

    VerraDyne LLC has been awarded a major legacy migration project with an educational institution in the United States. The contract is to convert their legacy COBOL code to C#.


    MISSION HILLS, Calif., November 7, 2023 (Newswire.com)
    –
    VerraDyne LLC, a world leader in legacy modernization, announced today that it has been awarded a contract to modernize the legacy support systems of a large educational institution in the United States. 

    The project will migrate more than one million lines of COBOL source code to C# on .NET and the screens to a modern interface using Winforms. VerraDyne’s Lexicon toolset will automate the migration process, which includes all code, scripts, and data. The modernized systems will be implemented in more than 150 school districts, enabling them to take advantage of the changing technology market by allowing access to a larger resource pool, a wider range of applications, and increased developer productivity. VerraDyne LLC is based in California and has a reputation for delivering projects on time and at a fixed rate.

    VerraDyne LLC is a world leader in Legacy Migration. The Lexicon toolset was developed over many years to highly automate the process of modernization. Based in California, VerraDyne has a reputation for delivering projects on time and at a fixed rate.

    Source: VerraDyne LLC

    [ad_2]

    Source link

  • Transforming Switzerland’s payments landscape: Benefits for banks with ISO20022 and instant payments – Banking blog

    Transforming Switzerland’s payments landscape: Benefits for banks with ISO20022 and instant payments – Banking blog

    [ad_1]

    The implementation of the ISO20022 offers a great opportunity to transform and modernise banking operations and payments.

    The growth in Payments

    Payments are the lifeblood of the economy, facilitating transactions for goods and services and the greater flexibility and speed have greatly expanded the choices.

    In Switzerland, besides cash, debit cards were the preferred payment method between from 2017 and 2020 (22% to 32% of payments by volume and 28% to 34% by value). Whereas volume and value has remained on a similar level since then, contactless payments have increased between 2020 and 2022 (from 13% to 19% in value).

    Additionally, a substantial growth in mobile payment transactions have been observed between 2020 and 2022 (4% to 11% by volume and 4% to 8% by value).

    Image 1 ISO20022Source: Swiss National Bank

    Insights of our recent Payments survey

    In our recent payments survey of more than 40 banks in Switzerland, 45% rate payments as a strategic driver, and 55% as a need-to-have commodity.

    Furthermore, 82% of the banks consider that payments will be even more important in five years than it is today, and only 18% believe that they will be less important.

    Payments are a key connector between a bank and its customers. Depending on a bank’s positioning and product offering, over 50% of customer interactions involve payments.

    Image 2 ISO20022Source: Deloitte payments survey 2023

    Payment regulation

    ISO20022 and instant payments

    The implementation of instant payments and adaption to ISO20022 is mandatory and follows a clear roadmap outlined by SIX (mandated by SNB) with a product migration path.

    Together with the financial institutions, SIX is initiating the technical rollout of ISO20022, followed by the technical readiness for SIC5 by the end of 2023. The largest Swiss banks must comply by the end of 2024, with a capability of processing instant payments (receiving), and the remaining banks must comply by 2026 at the latest.

    Open banking

    Open banking − which permits access to bank customer interfaces for third-party providers − is not yet mandatory for banks and other financial institutions in Switzerland. However, Open banking was made mandatory for banks and other financial institutions in the EU with the regulation Payment Services Directive 2 (PSD2) regulation.

    On 28 June 2023, the European Commission published draft legislation, PSD3, which aims to:

    • Combat payment fraud by allowing financial institutions and payment service providers to share fraud-related information with each other

    • Strengthen consumers’ rights, improving transparency on their account statements

    • Enabling non-bank payment service providers to access all EU payment systems while preserving their right to a bank account

    • Improve open banking functionality and customer control over payment data, allowing new and innovative services to enter the market.

    In Switzerland, the Federal Council has included open banking in its ‘digital agenda’ for 2024. Therefore, it can be assumed that this will trigger transformation activities for banks and financial institutions on the regulatory side.

    Implications

    Payments are undergoing a profound transformation, based on/initiated by changes in customer behaviour, technology, commercial/business models, partnerships/fintech’s as well as in regulation.

    It will therefore not be sufficient in the long term simply to implement the new regulatory requirements for payments.

    Banks and other financial institutions should now deal with the challenge of payments transformation holistically and set the right course.

    Banks and financial institutions will be confronted with the following consequences if they do not modernise and upgrade their payment systems:

    • Lack of innovation, less customer proximity and resulting weaknesses in the market offering

    • Ever-increasing process-related disadvantages compared to other banks and competitors, due to costs not being reduced and processing times not being accelerated

    • the consequences of regulatory non-compliance.

    Image 3 ISO 20022

    Payments transformation

    ISO20022, combined with the advent of instant payments, holds immense potential for financial institutions in Switzerland and Liechtenstein. This combination offers many opportunities for early adopters, enabling them to enhance their operations, streamline processes, and stay ahead of the curve.

    Opportunities and advantages from early adoption

    • Enhanced operational efficiency: ISO20022 introduces a standardised data format that allows for seamless inter-communication and interoperability between financial institutions. By adopting ISO20022 early, Swiss and Liechtenstein financial institutions can leverage this standardised format to simplify and automate processes such as payment initiation, reconciliation, and reporting. This streamlining of operations reduces manual effort and the risk of errors and improves overall efficiency.

    • Better customer experience: Instant payments, enabled by ISO20022, revolutionise the speed and convenience of transactions. With real-time payment capabilities, financial institutions can offer their customers around-the-clock near-instantaneous and frictionless fund transfers. This enhanced customer experience should foster customer loyalty and satisfaction and help to attract new clients by differentiating early adopters from their competitors.

    • Competitive edge: By embracing ISO20022 and instant payments at an early stage, financial institutions can gain a significant competitive advantage. They can position themselves as leaders in the industry by providing cutting-edge payment solutions that cater to the evolving needs and expectations of customers. This proactive approach should also help to attract business partners who seeking collaboration with innovative financial institutions.

    Modernising applications and processes

    • Seamless integration: ISO20022 is a catalyst for modernising existing applications and legacy systems. Financial institutions can integrate ISO20022 messages seamlessly into their existing infrastructure, enable smoother data exchange between various systems, and pave the way for improved analytics, reporting, and compliance monitoring.

    • Enhanced data insights: ISO20022 supports the transmission of enriched data, including detailed payment information and contextual data. Financial institutions can use this additional information to obtain valuable insights into customer behaviour, spending patterns, and markets trends, enabling them to offer personalised services, develop targeted marketing strategies, and make data-driven business decisions.

    Fostering innovation

    • Open banking opportunities: ISO20022, combined with instant payments, lays the foundation for open banking in Switzerland and Liechtenstein. It enables secure and standardised data exchange between financial institutions and third-party providers, fostering collaboration and innovation. By embracing ISO20022, financial institutions can explore new revenue streams, offer value-added services, and create innovative partnerships with fintech firms, whilst ensuring the security and privacy of customer data.

    • Product and service innovation: ISO20022’s rich data capabilities enable financial institutions to develop innovative products and services that go beyond traditional payment offerings. By analysing customer behaviour and preferences, they can identify opportunities for creating tailored financial solutions, such as real-time budgeting tools, personalised savings plans, and AI-driven investment recommendations. These innovations will not only enhance customer engagement but will also generate new revenue streams.

    Conclusion

    ISO20022 and instant payments present Swiss and Liechtenstein financial institutions with unprecedented opportunities to modernise their applications, streamline their processes, and innovate. Early adoption of ISO20022 will enable them to gain a competitive edge, enhance operational efficiency, and deliver an exceptional customer experience. By leveraging ISO20022’s capabilities, financial institutions can transform their operations, unlock valuable data insights, and drive product and service innovation.

    Embracing ISO20022 is not only a strategic move. It is also a crucial step in future-proofing the payments landscape.

    Finally, payments will be a challenge for banks and financial institutions to develop process excellence and to meet regulatory requirements. Payments will become a key differentiator in the management of client expectations and customer centricity.

    Picture1

    Banner Payments Event

    Cyrill kiefer

    Cyrill Kiefer, Partner, Banking Consulting Lead

    Cyrill is Partner in the Banking Transformation Practice. He has successfully led various «end-to-end» transformation projects from strategy to go-live in the area of trading, regulatory, sales excellence, digitalisation and organisational change management. He has more than 18 years of consulting experience in serving retail and private banks as well as market operators. Cyrill focuses on optimising the interaction between banks and clients by using digital solutions and develops agile front-end solutions for the Fintech industry.

    Email | LinkedIn

    Roger Kuhn pic

    Roger Kuhn, Partner, Consulting Business Operations Lead

    Roger is the Lead Partner of Deloitte’s Business Operations practice in Switzerland with over 20 years of experience advising clients on large-scale business transformations and technology implementations. He collaborates with our clients across the spectrum of their end-to-end journeys, focusing on the transformation, modernisation, and optimisation of their business operations systems.

    Roger’s academic background lies in economics and business administration at the University of St. Gallen, with a specialization in financial accounting and reporting. In his previous roles, Roger was responsible for overseeing complex global finance transformation programs for major Financial Service organisations.

    Email| LinkedIn 

    David frei

    David Frei, Director, Payments Lead Switzerland

    David is Deloitte Switzerland’s Payments Lead and a Director in the Business Operations Consulting practice in Zurich, with global experience gained in Consultancy and the Banking industry. He has vast experience and a macro view across retail and banking payments, payments processing, financial service products, consumer, payments costs, regulations and systems as well as detailed knowledge of key processes in Acquiring, PSP and omni-channel/e-commerce payments.

    He has advised large clients through impactful payments transformation and digital payments projects in Switzerland and Europe.

    Email| LinkedIn 

    M Penning

    Michael Penning, Payments Expert

    Michael is part of Deloitte’s Business Operations practice and a member of the Payments offering. He has over 7 years’ experience in the banking area with focus on banking operations and transformation.

    He has gained diverse experiences in financial services from the inside out, through advising, auditing, and working as an employee. From client facing role to IT transformation and executing the multi-year plan for the Chief Operating Officer and regular meetings with Senior Management.

    Michael is an experienced project manager and led transformation projects, ranging from IT implementation projects to adapt the ISO20022 standard to projects with focus on B2B cross-border payments and ESG initiatives among others.  

    Email| LinkedIn 

    [ad_2]

    Lena Woodward

    Source link

  • The Coalition on Adult Basic Education Holds Legislative Briefing on Adult Education: The Hidden Talent Pipeline

    The Coalition on Adult Basic Education Holds Legislative Briefing on Adult Education: The Hidden Talent Pipeline

    [ad_1]


    WASHINGTON, May 16, 2023 (Newswire.com)
    –
    Today, the Coalition on Adult Basic Education (COABE), the leading association representing 79,000+ educators working with millions of adult learners nationwide, held a briefing on adult basic education. Legislators and their staff were invited to the Senate Russell building to hear from learners whose lives have been transformed through literacy as well as business leaders, a community college vice president, and partners.

    The legislative briefing, sponsored by Senators Jack Reed (D-RI) and Todd Young (R-IN) and hosted by COABE, entitled “Adult Education: The Hidden Talent Pipeline,” highlighted the interconnected role of adult education in our workforce development and higher education systems. “The latest National Reporting data clearly shows that over 1,000,000 employment connections have been made over the last four years from adult education programs to the workforce sector. Learners are earning credentials, participating in integrated education and training programs, and getting jobs as a result of attending WIOA Title II federally funded adult education classes,” said Sharon Bonney, Chief Executive Officer for the Coalition on Adult Basic Education.

    Jody Angelone, board president, noted, “While local adult education programs continue to experience severe funding issues, receiving on average just $583 per learner compared to $10,000 per pupil in elementary education, WIOA Title II local programs continue to deliver high-quality results.”

    The briefing consisted of two panels, which were moderated by public policy chair and president-elect, Regina Suitt. Regina noted that “In addition to hearing from learners, business leaders from Forbes 100 companies, and community college leaders, legislators learned of bipartisan efforts led by Senators Reed and Young to increase adult education funding and introduce new legislation to strengthen adult education so more learners can gain the skills desired by employers, allowing them to earn a family-sustaining wage.”

    Senators Reed and Young recently introduced S. 1268, the Strengthening Research in Adult Education Act, to ensure strong and actionable research based on what works best to support adult learners. The Senators plan to soon reintroduce the Adult Education WORKS Act, to update, enhance, and expand access to adult education programs funded under Title II of the Workforce Innovation and Opportunity Act (WIOA).

    ###

    About COABE

    COABE’s mission is to inspire educators so adults succeed and communities thrive. The Coalition on Adult Basic Education exists to provide leadership, communication, professional development, and advocacy for adult education and literacy practitioners to advance quality services for all adult learners. COABE provides a variety of services, including professional development through annual, state-of-the-art national conferences, webinars, symposiums, annually, advocacy and communication, and a peer-reviewed journal. 

    Source: Coalition on Adult Basic Education

    [ad_2]

    Source link

  • Macy’s CFO says his finance team will help ‘shape outcomes’ in 2023, not just report results

    Macy’s CFO says his finance team will help ‘shape outcomes’ in 2023, not just report results

    [ad_1]

    “The finance team will not report the news,” says Macy’s Inc. CFO Adrian V. Mitchell. “The finance team is going to help shape outcomes with our partners across the enterprise. That mindset shift was quite critical.”

    As we head into 2023, I followed up with Mitchell about the progress of Macy’s transformation to a digitally-led business. He says the finance, planning, merchandising, and supply chain teams are working together to modernize the retailer, which has been in business for more than 150 years.

    “Much of the modern department store ambition is about retooling Macy’s by building new capabilities, exiting legacy capabilities, and showing up for the customer,” he says. 

    Macy’s Inc. CFO Adrian V. Mitchell / Courtesy of Macy’s Inc.

    By streamlining its supply chain, Macy’s improved inventory turnover by 15% compared to before the pandemic, the company reported in its Q3 earnings. A big part of supply chain and inventory management has to do with analytic capabilities using tools like machine learning and demand forecasting, Mitchell says. 

    With a deep focus on the supply chain in 2021, “We were able to get the vast majority of our inventory in time for the holiday, and very little [of 2021 goods] actually spilled into 2022,” he says. “In 2022, we’ve seen the supply chain loosen up. The fill rates continue to improve every month, and every quarter this year. So we’ve adjusted and we’re watching confirmed orders.”

    He continues, “So if you think about the 2022 holiday, we had 55% newness, which is 30 percentage points higher than 2019. We’re coming into the season with a lot of newness as a fashion retailer, and we can actually adjust in season based on the demand profile.”

    Location-level pricing is an area where Macy’s uses machine learning, Mitchell says. For example, they can look at the velocity of a particular item like a black Polo sweater, its inventory availability in specific locations, and availability for the digital business “Then we can predict for that black Polo sweater what the appropriate markdown magnitude and timing should be,” on a case basis, he explains. This is different from the past when looking at the sell-through rate and then making decisions on markdowns that would apply to every store in a particular region, he says.

    “Pricing analytics continue to pay dividends for us,” Mitchell says.

    Mitchell has replaced manual processes with technology that includes enterprise reporting “that’s one truth for how the entire leadership team and their managerial teams talk about performance,” he says. “We talk about inventory, sales, margin, credit business, marketplace business, all on one sheet of data and information.”

    Macy’s reported net sales in Q3 were $5.2 billion, down 3.9% compared to the same time last year. However, the retailer beat estimates. “We’re pleased to be on the higher end of our sales expectations,” Mitchell says. “We were able to beat the bottom line handily relative to expectations.” 

    “Our stores were ready for the holiday in mid-October,” he says. “This year, we believe the holiday pattern is very much a pre-pandemic pattern.” The demand is on Black Friday, Cyber Monday, cyber week, and the 10 to 12 days leading up to Christmas, he says. 

    “The consumer remains under pressure,” Mitchell says. “We do recognize that in dollars things are more expensive on the nondiscretionary side. So we have to continue to delight the customer.” The company will be able to share more data in January, he says.

    For Mitchell’s finance team, getting a 360-degree view of the business is critical, and you can’t just do that from your desk. “My finance leaders and their teams are now going to [distribution centers], they’re going to stores, they’re sitting in working sessions with business partners to understand the levers that we need to pull in order to drive the financial outcomes,” he explains. 

    See you tomorrow.

    Sheryl Estrada
    sheryl.estrada@fortune.com

    Big deal

    Accenture’s new report, “Payments Gets Personal,” explores the consumer transaction journey and provides insight on future payment innovations. Globally, 66% of consumers surveyed use cash for payments at least five times a month. By region, North America had the lowest percentage of consumers (59%) that use cash frequently. Debit card came in second as the most frequent form of pay globally (64%). And more than half (56%) of respondents use a digital wallet. Biometrics payments is the authentication of physical characteristics such as retinas, fingerprints, and faces. Forty-two percent of respondents believe biometrics are likely to be widely used by 2025. In addition, 9% said they would be willing to use it as their in-person primary method of payment, if available, by 2025. The findings are based on a survey of more than 16,000 consumers in 13 countries across Asia, Europe, Latin America, and North America.

    Courtesy of Accenture

    Going deeper

    Amazon Web Services (AWS), Amazon’s cloud computing services, the company’s “best performing and least recognized business, is cutting few, if any jobs,” and may even add headcount next year, writes Fortune’s Geoff Colvin. For his piece, “The CEO of Amazon Web Services likes to hire people who are ‘restless and dissatisfied.’ Here’s why,” Colvin sat down with Adam Selipsky to talk about the culture of AWS and how he chooses team members.

    Leaderboard

    Christina Zamarro was promoted to EVP and CFO at The Goodyear Tire & Rubber Company (Nasdaq: GT), effective Jan. 1. Zamarro will succeed Darren R. Wells, who will become EVP and chief administrative officer. Zamarro joined Goodyear in 2007 after several years working for Ford Motor Company. She’s currently VP of finance and treasurer at Goodyear. For more than 15 years with the company, Zamarro has played key roles in financial strategy, treasury, and investor relations functions.

    James M. Moses was named vice chairman and CFO of First Hawaiian Bank and its parent company First Hawaiian, Inc. (Nasdaq: FHB), effective Jan. 3. Moses has more than 20 years of experience in the banking field. He joins the company from First Bank in St. Louis, Missouri, where he served as EVP and CFO. His previous experience includes serving as EVP and CFO of Berkshire Hills Bancorp, and SVP and manager of Asset Liability Management at Webster Bank.

    Overheard

    “We still have some ways to go.”

    —Federal Reserve Chair Jerome Powell said at a press conference on Wednesday that officials were not close to ending their campaign of interest-rate increases to tame inflation. Powell’s statement followed the central bank’s announcement of a 0.50 percentage point interest rate hike, which is smaller than the four previous hikes of 0.75 percentage points. Officials also signaled borrowing costs would head higher than expected next year, Fortune reported.

    [ad_2]

    Sheryl Estrada

    Source link

  • Schneider Electric launched in 1836 but solves 21st-century sustainability problems

    Schneider Electric launched in 1836 but solves 21st-century sustainability problems

    [ad_1]

    Schneider Electric was founded in 1836 in France, and in the 21st century it’s one of the world’s most sustainable companies, now helping Walmart decarbonize its scope 3 emissions.

    Over the past 15 years, under CEO Jean-Pascal Tricoire, Schneider acquired automation, energy-efficiency, and electricity brands including Invensys, TAC, and Andover. The company has been reinventing itself from selling electrical products to digitizing and automating the infrastructure of everything from humongous factories to a house on your block.

    At a time when sustainability is top of mind, Schneider positioned itself around energy management. For example, the company acquired start-up climate-tech platform Zeigo in January. And to support its software solutions, in September, it announced a full takeover of the British software company Aveva PLC for $11 million. Schneider reported Q3 2022 revenues of €8.8 billion (about $8.57 billion), up 12% year over year, energy management was up 12.1%, and industrial automation up 12%. 

    Joshua Dickinson

    Courtesy of Schneider Electric

    Forty-one-year-old Joshua Dickinson is the new SVP and CFO for Schneider Electric North America (NAM). Dickinson, based in Dallas, began his career at the company in 2015 and was most recently VP and deputy CFO of NAM operations. He’s now responsible for all financial operations of the approximately 8.2 billion euro (FY ’21) ($7.9 billion) region. I sat down with Dickinson to talk about cost savings, upcoming projects, grappling with digital transformation in finance operations, and his leadership style.

    This interview has been edited and condensed for clarity.

    Fortune: What are some of the cost savings related to the digitization process?

    One of the things I get asked as a CFO in this space is, how do you reconcile the cost to become more sustainable with managing your P&L? When you look at our sustainability business, a lot of the engagements that we take on in our performance contracting business are targeting about 30% energy savings every year for that company’s operation. Once we digitize the facility, we can show people how they’re losing money, and how their operation is inefficient. And when you present that to a CFO or anyone who understands profitability, it can be a very powerful tool to incentivize them to change.

    Schneider Electric has plans to invest about $46 million in your Lexington, Ky., and Lincoln, Neb., manufacturing plants to digitize operations. Both plants are more than 50 years old. Why is the company choosing to undertake this effort?

    It’s to ensure that we’re living out our own story to have an electrified and digitized operation both in North America and globally. But then also, we use facilities like that as a showcase to customers who don’t understand the value of electrification and digitization, especially to operations. During a recent trip to Mexico, I visited our Rojo Gomez plant which was built in 1967. I was surprised to see another great example of one of our older operations that has been on a journey of electrification and digitization, and the tangible value they were experiencing in their efficiency and overall quality of operations.

    Now that you’re CFO, and Schneider will have increased large-scale projects in the U.S., what will your role be in the process?

    I would say more of my role as a CFO at Schneider isn’t necessarily being a cheerleader but making sure that the decisions that I’m making on real estate and our facilities are enabling progress. Upstream supply is a huge part of this. As a large company, a lot of our carbon footprint is with our suppliers. My job as a CFO is to make sure that ESG remains at the forefront, leveraging it, and keeping it involved in the decision-making process.

    Speaking of ESG, as public companies await the passage of the U.S. Securities and Exchange Commission’s proposed mandatory climate-risk disclosure rule, CFOs will most likely be at the center of enhanced reporting. What’s your perspective?

    Even if the SEC’s ESG reporting rules don’t go into effect, I think we’re seeing a cultural change in the interest level and the importance of this to people. I think it’s critical that both the CFO and the CEO are fully aligned on the commitments that they’re making. Greenwashing is having a negative effect within financial institutions, but also with shareholders. People are having more and more interest in what a company is really doing about their commitments.

    As a large global company, how is your digital transformation in finance going?

    There are times we struggle with the siloed effect. When you think about the digitization journey within finance, we’re really now in a process of taking the best practices from each zone. Internally, we have the tag phrase “One Finance.” When I was recently in Las Vegas at our Innovation Summit, a few mornings I had the privilege of getting on some 3 a.m. calls, being on Pacific time, and talking with some of my European counterparts. It was an opportunity to share best practices and make decisions on what we’re going to keep from the different pieces, but then we’re going to put it on a single digital platform, a single operating structure where we’re standardizing whatever we can. 

    If you think about it, if I explain my financial performance, say to Hilary Maxson [EVP and group CFO], using different tools and different KPIs [than my counterparts], when she’s hearing my explanation versus hearing from China or from France, that can be very confusing. And we might not be comparing apples to apples, right? I think for a while, we really held off and we were playing defense. But the leadership team right now assembled by Hilary is such a great group of people. We’re very like-minded. 

    What is your leadership style?

    I’ve got a great team and I would say that’s one of my strengths because I’m not an expert in every element of the finance function. My ability to attract talent and manage a team effectively, I think is part of my success story. It’s only been three months since I was a peer of a lot of the people that I’m leading. When you think about going from a peer and a friend to a boss, at least for me, it was a little intimidating. But that’s been one of the most rewarding parts of the last three months, just seeing the closeness and the level of talent that’s on my team. 

    I hope you enjoy your weekend.

    Sheryl Estrada
    sheryl.estrada@fortune.com

    Big deal

    PwC’s latest pulse survey, “Cautious to Confident,” finds business leaders continue to show optimism amid economic pressures. Ninety percent of executives surveyed are concerned about macroeconomic conditions. They’re also very concerned about the Federal Reserve’s tightening cycle, and the higher cost of capital (both at 86%). However, the findings also showed that executives are focused on the future. Seventy-seven percent of executives are confident that they can hit near-term growth goals, and 82% are confident that their company can execute overall business transformation initiatives. The survey was conducted from Oct. 12-18 and had a total of 657 executives from both public and private companies.

    Courtesy of PwC

    Going deeper

    Here are a few weekend reads:

    “This interactive map shows the home price shift in America’s biggest housing markets” by Lance Lambert

    “3 charts that shed light on when the stock market may hit bottom” by Lucy Brewster

    “How Peyton Manning built a ‘second chapter’ from quarterback to media king without a plan” by Jane Their

    “Four ways to adjust to Daylight Saving Time ending, according to a sleep expert” by L’Oreal Thompson Payton

    Leaderboard

    Here’s a list of some notable moves this week:

    Eliane Okamura was named CFO at Ford Motor Credit Company. Okamura will succeed Brian Schaaf, CFO, treasurer and EVP of strategy, since 2018, who will retire, effective Dec. 1. Okamura has been director of automotive strategy, risk, and agile finance on Ford’s treasury team, since March 2021. She joined the company in 1995 in Brazil as an analyst and held positions including treasurer of Ford South America. 

    Todd Wilson was named CFO at Red Robin Gourmet Burgers, Inc. (Nasdaq: RRGB), a full-service restaurant chain, effective Nov. 7. Wilson succeeds Lynn Schweinfurth who will retire. Wilson most recently served as CFO at Hopdoddy Burger Bar and Hibar Hospitality. Before that, he was VP of finance for Jamba Juice. Wilson also served as Division CFO and VP of finance at Bloomin’ Brands Carrabba’s Italian Grill.

    Jim Benson was named CFO at Dynatrace (NYSE: DT), a software intelligence company, effective Nov. 15. Benson will succeed Kevin Burns, who announced in May his intention to transition out of Dynatrace by the end of the year. Benson most recently served as EVP and CFO at Akamai Technologies, a global cloud services, and cybersecurity leader. Before joining Akamai, he spent 20 years at Hewlett Packard Company.

    Cecilia Situ was named EVP and CFO at Santa Cruz County Bank (OTCQX: SCZC). Most recently, she was SVP and treasurer at Bank of Marin, and previously controller and principal accounting officer. She had a 14-year tenure with the company. Situ started her career in public accounting at Deloitte & Touche with a specialty in auditing community banks, real estate firms, not-for-profit organizations, and other financial service companies.

    Jeff Stafeil was named EVP and CFO at Tenneco Inc. (NYSE: TEN). Stafeil will replace Matti Masanovich, upon Tenneco’s acquisition by Apollo Funds. Stafeil will join Tenneco from Adient PLC, where he served as EVP and CFO since 2016. Before that, he worked at global automotive electronics supplier Visteon, where he was EVP and CFO. 

    Andrew Lazarus was named CFO at Validity, a provider of data management and email marketing success solutions. Lazarus will leverage his experience in finance and investor relations to scale the company for its next stage of growth. Previously, he has served as CFO at several companies, including Electric, Pilot Freight Services, and BAE Systems Applied Intelligence.

    Overheard

    “I heard about the blue tick for a while, but I learned about the $8 thing at the same time you did. Anything that can reduce the bots on Twitter is fantastic.”

    —Binance CEO Changpeng “CZ” Zhao, who pumped $500 million into Tesla CEO Elon Musk’s vision for Twitter, commented during Web Summit this week about Twitter’s intent to start selling blue verification badges for user profiles as part of an $8-a-month subscription, Fortune reported. 

    [ad_2]

    Sheryl Estrada

    Source link