The tech giant also increased its capital spending in the quarter under review as it focused on AI amid fierce competition from rivals such as Alibaba. Tencent reported a surge in AI revenues from activities like advertising and cloud computing.

Surpassing Projections

Tencent reported $23.9 billion in quarter four revenue. This was slightly higher than the $23.4 projected by analysts. Profits attributable to equity shareholders also increased slightly to $7.1 billion compared to the expected $6.3 billion.

Tencent is among the world’s largest gaming firms. In quarter four, its revenue from domestic games rose 23% year on year. The tech giant attributed this surge to growth in its user base as more players embraced hit games like Peacekeeper Elite and Honor of Kings. The company recorded a 15% increase in revenue generated outside

Chinese borders. With the local gaming market slowing down due to regulatory and macroeconomic challenges, the company is doubling overseas efforts with games such as Tencent PUBG Mobile. Revenue from the company’s advertising business rose by 17% in the fourth quarter.

Tencent owns the largest messaging app in China, WeChat. The app has 1.38 billion active users per month. The company has been seeking to monetize the platform by advertising products like search and videos.

Focusing on AI

Although Tencent maintains a lead in gaming globally, the tech giant has placed strong focus on establishing itself as an important AI player in China. This focus came with increased spending, pushing Tencent’s 2024 capital expenditure to 76.8 billion yuan compared to the 23.89 billion spent in 2023.

The AI spending was directed to acquisition of graphics processing units and servers. The tech giant has reorganized its teams and expects the increased spending to facilitate growth.

“Starting a few months ago, we have reorganised our AI teams to sharpen focus on both fast product innovation and deep model research, increased our AI-related capital expenditures, and increased our research and development and marketing efforts for our AI-native products. We believe these stepped-up investments will generate ongoing returns via uplifting productivity in our advertising business and longevity of our games, as well as longer term value from accelerated consumer usage of our AI applications and enterprise adoption of our AI services,” Tencent said.

Investors are waiting to see how Tencent will monetize AI investments on customer-facing platforms like WeChat.

Tencent AI Models

Tencent has developed various AI models for its own use over the last two years. The tech giant has an inhouse AI bot called Yuanbao. This chatbot is based on DeepSeek’s R1 model as well as the company’s Hunyuan foundational model.

Tencent is looking to integrate DeepSeek’s technology in its Chinese products including the search feature on its WeChat messaging app. The recent AI push reflects the current competition among Chinese tech companies. The competition has been triggered by DeepSeek’s highly efficient AI model launched earlier this year. Since then, companies like Baidu and Alibaba have been releasing AI updates at a much faster rate.

This past weekend, Baidu introduced two AI models, one being a new reasoning model. Alibaba also unveiled an update of its AI assistant that is powered by its reasoning model, its Qwen AI last week. Tencent also revealed Hunyuan3D 2.0 model. This AI model can convert images and text into 3D graphics.
The company had also launched an AI-powered chatbot Turbo S to respond to user queries fast. The company says that AI is facilitating product improvements across the company. For instance, the technology has driven its advertising business growth. The company also said that revenue from Tencent’s AI cloud computing unit doubled in 2024. The business is housed in its fintech and business service decision, which recorded a 3% growth in quarter four.

The post Tencent Increases AI Spending as Gaming Industry Revenue Pushes Profit Up 90% appeared first on Tech Research Online.

Analysts project a 41% growth in TSMCs quarter one revenues. TSMC’s revenue climb is a reflection of a resilient semiconductor market and a sign that demand for Nvidia AI chips remains high.

Demand for AI Chips

Being one of the leading producers of AI chips, TSMC Q1 revenue points to the industry’s performance. Tech companies and investors have started discussing the sustainability of the AI boom that catapulted Nvidia to become one of the most valuable firms in the world.

This debate has become more pronounced following the emergence of Chinese AI bot, DeepSeek, whose researchers have claimed cost much less to develop.

“Taiwan’s robust growth in integrated circuit exports in January imply AI chip sales are driving up TSMC’s revenue, export data show,” Bloomberg Intelligence Analysts Masahiro Wakasugi and Takumi Okano wrote.

Even so, semiconductor market trends show that demand varies for different wafer sizes.

“While 300-mm silicon wafer shipments signal a recovery, 200-mm wafers appear to reflect weaker automotive and industrial demand. Electric components need an order pickup from consumer-device companies,” the analysts added.

Reassuring the Market

Following the market sell-off triggered by DeepSeek earlier this year, big techs have been seeking to reassure investors that AI computing spending remains healthy. Broadcom is the latest tech company to make this move. Last week, Broadcom stocks surged 6.7% after the company forecasted revenues of about $14.9 billion in quarter 1. Analysts had projected a $14.6 billion average sales.

Broadcom’s projections are pegged on AI growth. The report by the Apple chip supplier shows that the historic AI spending frenzy is still strong. Over the years, the company has benefited from AI spending as its data center customers invest huge amounts in building new AI infrastructure.

Last month, Nvidia’s earnings suggested that demand for AI remains robust. The tech giant’s quarter four report indicated that AI infrastructure that heavyweights like Microsoft and Amazon are building is still relevant. Nvidia Q4 results reflected a 78% increase in the tech company’s quarterly revenue, which was largely driven by rising demand for AI chips. Nvidia’s data center business, where it sells high-end GPUs to artificial intelligence models, remained a top revenue contributor.

Taiwanese chip maker Hon Hai Precision Industry Company also reported a 25% increase in revenue in the first two months of this year. The company attributed this rise to the launch of new products by its clients and a surge in AI-related orders.

Chip Import Tariffs

TSMC and other chip manufacturers currently face uncertainty due to potential chip import tariffs that US President Donald Trump has threatened to introduce. The giant chip maker could have benefited from stockpiling or front loading ahead of these tariffs. While meeting with President Trump at the White House last week, TSMC CEO CC Wei committed an additional $100 billion investment in the US, the largest outlay that a foreign company in manufacturing has made in the country. This move was viewed as a bid to avoid tariffs.

Back in Taiwan, TSMC’s US investments raised concerns that the company could be shifting advanced technology away from the Island country. TSMC defended its decision to make the investment in the US, saying it will not affect local investments. In a joint statement with the Taiwanese President, Wei reassured the public of the company’s commitment to boost investments in Taiwan where it would produce and retain its highly advanced technology.

According to Cecilian Chan, Bloomberg Intelligence credit analyst, the additional $100 billion investment will not affect TSMC’s credit ratings. This is because the company already has a high net cash position of about $44 billion. However, it could extend the time needed for the company to break-even. This could affect its profit margins if Trump decides to terminate CHIPS Act funding.

The post Why TSMC’s 34% Revenue Surge Points to a Strong Semiconductor Market appeared first on Tech Research Online.

According to Yahoo Finance, the Marshall founding family may retain its stake in the transaction. The people involved said that HongShan, also known as Sequoia Capital, emerged as the likeliest buyer for Marshall after outbidding other funds.

They added HongShan and Marshall are negotiating final details of an agreement that could be reached in the coming days. Talks are ongoing and no final decisions have been made.

Hongshan is a venture capital and private equity firm that invests in technology, healthcare and consumer sectors. It was founded in 2005 and has backed 1500 firms like alibaba Group Holding Ltd., BYD Co. and ByteDance Ltd..

A Strategic Move in Audio Technology

Through its acquisition of Marshall Group, HongShan showcases its expanding consumer electronics market leadership. Since the 1960s, Marshall has been producing high-performance audio equipment and guitar amplifiers that have long been essential for musicians worldwide.

HongShan funding will accelerate Marshall’s expansion into smart audio technology by combining AI-powered audio engineering and next-generation wireless solutions. Experts believe Marshall will do better in facing industry leaders Bose and Sony when they update their technology.

The acquisition by a tech investment firm raises questions about the HongShan vs Marshall relationship but analysts see a partnership with opportunities for both companies. Marshall and HongShan’s partnership brings analog heritage with digital processing which benefits both audiophile enthusiasts and technological trend followers. Top company executives believe this joint venture will keep the business going in its original path while delivering HongShan’s financial support and skills.

Global Expansion and Market Implications

The deal should give HongShan a greater foothold in the consumer electronics market, with a strong client base in the U.S. and Europe through Marshall. Having more capital at its disposal coupled with HongShan’s investments in technologies, Marshall should be able to expand its high-end product line and enter areas such as gaming and virtual reality immersive audio products.

Industry insiders believe that this deal by HongShan will set a precedent for more tech-driven acquisitions in the music and audio sectors. With a surge in the demand for high-quality audio experiences, companies with strong brand heritage and innovation potential are seen as attractive targets for investment firms.

Sources close to the negotiations indicate that the final terms of the agreement are being ironed out, with regulatory approvals and due diligence processes in their final stages. If the deal closes successfully, it will represent one of the largest acquisitions in the premium audio market.

The post HongShan to Acquire Rock Icon Marshall in Landmark $1.1 Billion Deal appeared first on Tech Research Online.

Financial management software takes the hassle out of bookkeeping, helping you stay organized, save time, and make smarter financial decisions. The right software can make a huge difference in managing your business’s money, from tracking expenses and generating invoices to handling payroll and preparing for tax season.

This article will examine the top 10 financial management software for small and medium businesses. We’ve chosen the tools discussed here based on their ease of use, features, and how well they fit the needs of companies like yours.

So, if you’re looking to simplify your bookkeeping, move from traditional to digital accounting, and get a better handle on your finances.

What is Financial Management

Finance management involves planning and controlling financial resources and activities to achieve an organization’s financial goals. It includes budgeting, tracking income and expenses, managing cash flow, and making strategic financial decisions that improve revenue and profits.

Financial management also ensures that companies are making strategic financial decisions that improve revenue and profits by:

• Managing their resources efficiently
• Managing their liabilities to maintain financial health
• Setting and adhering to long-term goals
• Evaluating risks
• Planning for future growth or stability

To simplify finance management, companies need financial management software to automate the process, reduce errors, avoid costly mistakes, and gain real-time insights into financial operations.

What to Look for in Financial Management Software for Small Businesses

Choosing the right financial management software for your small business can feel overwhelming. But if you know what to look for, you can make the decision much easier.

First and foremost, choose user-friendly software. You don’t need to be a financial expert to use it, so look for a tool with a simple, intuitive interface that won’t require hours of training to master.

The second key feature to consider is scalability. Your business might be small now, but you want software that can grow with you. Ensure it can handle more clients, employees, or transactions as your business expands.

Third, integration is also essential—look for software that can integrate with the other tools you already use, like your CRM or payroll system. Since accounting firms are highly vulnerable to cybersecurity threats, any tool that integrates with your systems should have the highest security standards.

Fourth, consider the specific features your business needs. Besides robust invoicing options such as automated expense tracking or real-time financial reporting, you should also consider AI capabilities. Adopting AI might seem impossible for a small business, but starting small is a crucial step to embracing AI in your business. So start small by using AI-powered financial software.

Lastly, don’t forget about customer support. Good support can be a lifesaver when you run into issues.

10 Top-Notch Financial Management Software to Streamline Your Business Operations

1. QuickBooks Online

QuickBooks Online is a popular financial management software for small businesses. It is a cloud-based solution that covers everything from tracking expenses and invoices to managing payroll.

It is one of the most comprehensive financial solutions available for this market. The platform offers a variety of features, such as accounts payable, receivable, and invoicing. There is a payroll module for businesses with employees, and a time-tracking module is also available for those billing clients by the hour. If you’re using IoT to enhance processes like inventory management, you’ll also find QuickBooks’ inventory management tool handy.

One of the best things about QuickBooks is how it works effortlessly with other tools. For example, it can connect with PayPal, Square, and eCommerce platforms like Shopify and Woocommerce, allowing you to manage your income and expenses in one place. QuickBooks also integrates with FreshBooks for time tracking. Furthermore, it makes it easy for multiple users to collaborate while keeping sensitive financial information safe.

Advantages of QuickBooks Online:

• Over 700 app integrations
• Payroll and inventory management
• FreshBooks integration
• Supports multiple users simultaneously

Whether you have a small team or need something more robust, you can scale your online business with QuickBooks Online.

2. FreshBooks Accounting

FreshBooks is an intuitive cloud-based financial management software designed specifically for small businesses. It simplifies tracking expenses, organizing financial data, and generating reports. FreshBooks also includes features for managing projects and sending professional invoices, helping companies maintain a steady revenue stream while on the go. This financial software solution automates many bookkeeping tasks, saving time on manual processes.

If your business deals with physical products, FreshBooks’ inventory management feature will help you track stock levels, set reorder alerts, and create purchase orders.

Additionally, FreshBooks generates important financial reports like profit and loss statements, balance sheets, and cash flow reports, so you always know where your business stands financially and can make better decisions.

Advantages of FreshBooks

• Automates accounting processes, including invoice management
• Unlimited users, ideal for collaborative work
• Comprehensive customer support

FreshBooks is particularly handy for freelancers and service-based businesses. It makes it easy for such individuals to track time, manage expenses, and send professional invoices. Plus, FreshBooks automates many nitty-gritty bookkeeping tasks, saving you time and hassle. If you are often on the go, you will appreciate its accessibility from any device with an internet connection.

3. Xero

Xero offers a full suite of accounting tools perfect for small businesses looking for something comprehensive yet easy to use.

It enables businesses to track income and expenses and provides real-time updates to keep owners and accountants informed of financial changes as they happen. Xero supports multi-device access, ensuring your accounting data is always within reach.

However, it may be less cost-effective than other financial management software tools due to the limited availability of free add-ons despite its competitive pricing.

Advantages of Xero

• Unlimited users across all plans
• Comprehensive inventory management
• Detailed reporting in all plans
• Automation for bill captures
• Double entry accounting

While it may not be the cheapest financial tool, Xero’s emphasis on real-time reporting and ease of access from multiple devices makes it a solid choice for those who value up-to-date financial insights.

4. Zoho Books

Zoho Books is a financial management software solution that helps businesses manage accounts payable, billing, and invoicing. It enables users to monitor multiple bank accounts, credit cards, and bills and integrates with other accounting platforms like QuickBooks Online and Xero. This integration feature reduces the need for duplicate data entry, making it a time-saving for accounting professionals managing multiple clients.

Advantages of Zoho Books

• User-friendly interface
• Integration with other Zoho apps
• Workflow automation
• Excellent customer support
• Customized versions for nonprofits and startups

5. ZSage 50

Sage 50 is security-first software, which is a strong selling point. Small businesses lack IT infrastructure management best practices, making them vulnerable to cyberattacks.

Sage 50, previously known as Peachtree, has long been a trusted accounting software for small businesses. It’s a tool for Pros.

It offers comprehensive features and integrates seamlessly with QuickBooks. Auto entry, one of Sage 50’s top features, lets you create invoices directly from sales orders, saving time by preventing repetitive data entry.

Advantages of Sage 50

• High security
• 24/7 customer support
• Easy to navigate with a user-friendly interface
• Automated backups
• Facilitates efficient collaboration with partners and accountants

6. Wave Accounting

If you are on a tight budget, try Wave Accounting. It is a free accounting tool that offers premium features—like financial reports and automated payment processing—typically found in paid software.

It generates financial reports like balance sheets and income statements, which you can download as PDFs or Excel files. By automating payment processing, Wave ensures your bank balances are updated with each transaction, making work easier, especially during tax season preparation.

Advantages of Wave Accounting

• Free and transparent
• User-friendly interface
• Unlimited tracking of income and expenses
• Multiple user support
• Double entry accounting

7. FreeAgent

FreeAgent is perfect for freelancers and small businesses that need a simple but effective financial management software.

It supports recurring invoices, which it sends automatically. Once linked to a bank account, it automates transactions, reducing daily administrative tasks. The software is user-friendly and takes the hassle out of day-to-day bookkeeping tasks.

Advantages of FreeAgent

• Quick and easy estimate creation with templates
• Time tracking capabilities
• Dashboard provides a comprehensive overview

8. Finom

Finom is a newer player in small business accounting but is quickly gaining traction. It is handy for freelancers and small businesses looking for an all-in-one solution.

With its user-friendly interface, e-invoicing, accounting integrations, and automation features, Finom aims to enhance your fiscal management experience.

Finom’s invoicing features are top-notch. It allows you to create, send, and track invoices easily. It also integrates with your bank and other financial tools, making it a great option to keep things simple and streamlined.

Advantages of Finom

• Flexible pricing options
• Supports unlimited invoices and users
• Advanced features like e-invoicing and accountant access

9. Kashoo

Kashoo is a straightforward and practical financial management software designed for business owners who value simplicity. It is a clean, easy-to-navigate platform that focuses on the essentials, making it great for filing your first invoice or using accounting software for the first time.

Kashoo offers two packages: truly small accounting for small businesses and Kashoo, perfect for advanced businesses and individuals.

In addition to handling small business accounting needs like income and expense tracking, invoicing, and tax preparation for small businesses, it also reduces manual data entry, enhancing accounting accuracy. Kashoo also simplifies accounting and fiscal management for advanced businesses with more accounting tasks.

Advantages of Kashoo

• Automatic expense categorization: Kashoo automatically organizes your expenses, reducing manual data entry and saving you time.
• Real-time financial reports: instantly generate vital financial reports to get a clear view of your business’s financial health.
• User-friendly interface: The straightforward design makes it easy to navigate, even for non-accounting experts.

10. ZipBooks

ZipBooks is a handy tool for managing the key financial aspects of your business. It allows you to manage accounting tasks like tracking accounts receivable, automatically categorizing transactions, and reconciling your bank accounts without hassle.

Expense management with ZipBooks is simple, as the software allows you to manage your billing needs by creating custom invoices, setting up recurring payments, recording and categorizing expenses, monitoring clients’ payment history, saving receipts digitally, and managing your vendors.

With the intelligence feature, you get insightful tools like a Business Health Score and Smart recommendations to help you make informed decisions and keep your business running smoothly.

Advantages of ZipBooks

• Smart insights and recommendations. Gain actionable advice based on your financial data, helping you make informed decisions.
• Integrated project management. Easily track time and expenses on a per-project basis, perfect for service-based businesses
• Customizable invoices. Receive payment faster with professional, branded invoices tailored to your business.
• Flexible pricing plans. Choose from free or paid options, allowing you to scale your accounting software as your business grows.

Conclusion: A Smart Investment for Small Businesses

The best financial management software is one that fits your business needs and budget. Whether you are just starting or looking to upgrade your current system, investing in the right bookkeeping tools can help you stay organized, save time, and help your business thrive.

As your business grows, having a reliable accounting system in place will be invaluable, providing the support you need to succeed in a competitive environment. The right accounting software can help you automate routine tasks, improve cash flow management, and offer real-time insights into financial health.

The post Top 10 Financial Management Software for Small and Medium Businesses appeared first on Tech Research Online.

Dell’s PC Sales Decline

Dell reported a quarterly sales decline for its personal computer unit. According to its Q3 financial report, revenues from this business dropped by 1% to stand at $12.1 billion, which is lower than the projected estimates. During the earnings call with analysts, Dell CFO, Yvonne McGill acknowledged that the slow personal computer market could continue till next year.

“The PC refresh cycle is pushing into next year,” she said.

HP’s personal computer unit reported a 2% increase in sales revenue to hit the $9.59 billion mark. Even so, this amount is still below analyst’s estimates. HP CEO argued that Microsoft’s new Windows edition has not encouraged corporate customers to buy new PCs fast the way previous releases did.

Historic Market Decline

The PC market has experienced a gradual decline in recent years. Demand for new laptops hit the peak in the early months of the Covid-19 pandemic. At the time, demand was driven by the fact that corporate employees and students were stuck in their homes.

There have been signs of market recovery this year. However, industry analysts from IDC say that shipment of personal computers dropped in quarter three of this year. Dell and HP revenues were expected to pick up following the introduction of new machines that had been touted as better for AI workloads. Analysts say that the new products were yet to spur demand as expected.

“Buyers have yet to see clear benefits or business value,” Gartner Analyst, Mikako Kitagawa said last month.

Stock Performance

Dell stocks dropped by 13% in premarket trading on November 27, 2024. Since the beginning of the year, the stocks had gained 85%. HP shares also dipped by about 10%. The stocks had increased by 30% since the beginning of this year.

Dell quarterly earnings showed that sales from its infrastructure unit, which manufactures servers, increased by 34% to reach $11.4 billion in the quarter ending November 1 2024. This was slightly more than the $11.3 billion that analysts predicted. Overall, The company’s total revenue rose by 10% in the quarter under review to reach a high of $24.4 billion. This is slightly lower than the $24.6 billion projected by analysts.

Dell is a market leader in manufacturing computers for corporations. The Texas-based company has enjoyed renewed investor interest after it developed high-powered servers to support AI workloads.

The company maintained conservative projections for the quarter ending February 2025. The company estimated total revenues for the quarter to be about $24.5 billion. HP’s revenue estimates did not impress investors. The Palo Alto-based company projected earnings of between 70 cents and 76 cents per share for the quarter ending January 2024.

Leveraging the AI Boom

Earlier this month, the PC maker announced that it was shipping servers that run on Nvidia’s Blackwell AI chips to leading cloud infrastructure provider, CoreWeave. Dell reported that it had shipped AI-optimized servers worth $2.9 billion in Q3. This was a drop from the $3.1 billion the company had generated in Q2.

“AI is a robust opportunity for us with no signs of slowing down,” Jeff Clerke, Dell’s COO said in the statement.

Clerke said that AI server orders in Q3 had hit the $3.6 billion mark and that the company had noted growing demand for the servers across all customer types.

The post Dell and HP Sales Miss Analyst Targets As the PC Market Slows Down appeared first on Tech Research Online.

According to Reuters, the startup’s performance in the IPO points to investor receptiveness of China-based companies under the Biden administration. The US and China have been competing to dominate the autonomous driving tech industry.

Years of Uncertainty

The Chinese tech IPO took place after about two years of uncertainty following the global delisting of another Chinese company, Didi three years ago. The delisting happened amidst regulatory backlash in China. The country eased the tensions by addressing a prolonged audit dispute with the US regulatory agencies in December 2022.

Even with the IPO completed, Pony AI still faces other challenges in the US robotaxi market. These include data privacy concerns, rising public skepticism about robotaxis, and stiff competition from companies such as Waymo and Elon Musk’s Cybercab. Tesla has promised to introduce public autonomous ride-hailing services in Texas and California in 2025.

Limited Scope

The Guangzhou-based autonomous vehicle company says that its operations in the US will be limited, at least in the foreseeable future. Pony.ai was founded in 2016 in Silicon Valley. The startup manufactures and operates fleets of autonomous vehicles in China and the US. Its vehicles include robotaxis and trucks.

The company got a permit to provide fare-charging, fully automated taxi services in China’s Guangzhou city in December 2023. Pony.ai has established research and development centers in Silicon Valley in the US and in Beijing, Guangzhou, and Shanghai in China.

Earlier this year, several China-based companies went public in the US. These include self-driving company, WeRide and EV manufacturer Zeekr.
The two companies went public at a time when the company’s IPO market was picking up. At the time, US investors were starting to show renewed interest in viable tech startups.

US Trading

Shares of the Toyota Motor-backed startup will start trading on November 27, 2024 on the Nasdaq. Pony AI’s IPO raised $153.4 million through concurrent private placement. The autonomous vehicle company sold 20 million depositary shares through the IPO. Pony AI IPO’s price was $13 per share. Even as it woes US investors, Pony AI’s valuation has dropped from $8.5 billion about two years ago to the current $4.55 billion.

The self-driving startup went public about its plan to go public in the US back in October 2024. At the time, the company said it was seeking to raise about $300 million, but said that the amount could change.

Analysts say that widespread adoption of autonomous vehicles could take years, The slow adoption of this travel technology is attributed to safety concerns and reliability challenges. Unlike China, the US has been slow to approve trials of self-driving vehicles compared to China.

The post Pony.ai US IPO Successfully Raises $260M, Stock to Debut at $13 Per Share appeared first on Tech Research Online.

Reuters reported that Atos is undergoing restructuring to manage its large debt. Moreover, the government has also been making continuous efforts to keep the ownership of the Atos’ strategic technology assets inside the country.

After negotiations with other private firms and a non-binding agreement by the government failed, it has now decided to sign a share purchase agreement with the company by 31st May 2025.

Atos Restructuring Plan

Atos advanced computing businesses include high performance computing and quantum operations along with business computing and AI division. The company has around 2500 employees and generated a revenue of €570 million in 2023.

In a statement, the company said that there will be an initial payment of €150 million when the agreement is signed. It also added that the deal amount could go up to €625 million, including the earn outs, as part of the Atos €500 million sale.

Atos also said that as a part of the restructuring plan it would commit to launch a formal sale process for its cybersecurity products and mission critical systems, which generated a revenue of about €340m in 2023. The company also added that it has agreed with the financial creditors to get an independent expert to assess the deal so that it reflects the correct market value.

As Atos is trying to restructure itself due to huge debt, it has also sold its energy division World grid to Alten, an engineering service firm, for €270 million. The French government is helping the company through the restructuring to keep the strategic technology within the country.

Atos has received approximately €1.7 billion as finances from the banks to pay back its debts. The company also converted €2.9 billion of its credit in shares, thereby giving the creditors control of the company.

Outlook for Atos

Atos’s share has also been taking a hit, as it dropped from €7.7 in December 2023 to €2 in the beginning of 2024 to €0.18 today.

The French Finance ministry said on Monday, 25th November 2024, “It is the role of the French State to guarantee, as a shareholder when it is justified, the perennity and development of the industrial activities that are most strategic for our sovereignty”

In April 2024, a Finance ministry official also said that Atos’s advanced computing system, critical systems, and cyber products are he part of the company’s cyber security unit BDS.

The post French Government Moves to Acquire Atos Advanced Computing for €500 Million appeared first on Tech Research Online.

On November 6, 2024, the digital payments company announced that its first-half profits stood at £217.3 million, which is £77 million more than the amount the company recorded a year ago.

Rise in Active Customers

The UK fintech profit jump came on the backdrop of a 25% rise in active customers. The company reported that overall, 11.4 million businesses and consumers use its digital payment platform.

Wise reported £591.9 million in annual revenue, which represents a 19% increase in its year-on-year revenue amounts. Following the Wise profit jump announcement, the value of its shares rose by 8% on November 6. The stock surge came right after the company entered a new partnership with the Standard Chartered bank.

“I continue to be bullish on Wise at these levels. While management lowered consensus expectations during full year results in June citing increased investments, I believe they have over provisioned the cost base as they have done in the past,” Gautam Pillai, Fintech Research Head at Peel Hunt said.

This partnership will see the British digital payments platform facilitate cross-border payments for the bank’s retail customers.

Link to Global Payment Systems

Earlier this year, fintech firm Wise released a sales warning that caused its shares to dip by 21%. In June 2024, the digital money transfer firm said it expected its year-on-year income for the 2025 fiscal year to grow by between 15% and 20%. These projections were much lower compared to the 31% growth the company had realized in the year ending March 2024.

Pillai attributed the increase in Wise profits beyond the projected amount to the company’s increasing direct linkage to the global payment systems. He further adds that lower foreign exchange costs may have enabled the company to lower the cost of its money transfer costs, which boosted its profit margins.

In October 2024, Wise recorded a 17% rise in its underlying income for quarter two of 2024. The company said it was on the way to achieving a 13% to 16% underlying profit before tax margin in the medium term, noting that it needed not make additional investments to reduce its prices in the second half of the 2024 fiscal year. When announcing its half year results, Wise said its underlying profit before tax margin for the first-half was 22%, which is above its 13% to 16% target. Wise expects its investments to bring down its product prices and reduce its profit margins to its target levels in the second half of its 2025 financial year.

Expansion Plans

In August 2024, Wise announced plans to expand its services to the Indian market. The expansion plan was part of the fintech company’s strategy to expand Wise market share and tap into India’s overseas remittances which currently stand at $32 billion.

Last week, UK’s Financial Conduct Authority (FCA) fined the Wise founder and CEO Kristo Käärmann a total of £350,000 ($453,565) for failing to notify the regulator of a £365,651 penalty he paid to HM Revenue and Customs (HMRC) in February 2021. Kaarmann had attracted the penalty after he failed to inform the tax authority of a capital gains tax liability after he sold shares worth $10 million in 2017.

The post Expanded Market Share Causes a 55% Profit Jump for UK Fintech, Wise appeared first on Tech Research Online.

Buyer’s guide to
ESG reporting and
data management
software

About IBM Envizi

IBM Envizi helps organizations automate the capture and management of environmental, social, and governance (ESG) data into a single system of record to calculate GHG emissions, streamline sustainability reporting and disclosure, and identify and manage decarbonization opportunities. Envizi has been supporting organizations on their sustainability journey for over a decade to build a data foundation, streamline reporting and disclosure, accelerate decarbonization.

The post Buyer’s guide to ESG reporting and data management software appeared first on Tech Research Online.

Transforming end-to-end Financial & Accounting Processes through outsourcing, Automation, and Workflow Innovations with Ascent Business Solution

About Ascent

Ascent Business Solutions is your trusted partner in financial process automation. We equip businesses of all sizes with the technology and expertise to achieve peak efficiency, accuracy, and compliance. Our mission is to empower your finance team to focus on strategic growth initiatives, while we handle the intricate details of payment processing and other critical financial tasks. 

The post Transforming end-to-end Financial & Accounting Processes through outsourcing, Automation, and Workflow Innovations with Ascent Business Solution appeared first on Tech Research Online.

2. Blockchain Applications

Cryptocurrency and blockchain have become highly controversial things to talk about these days. Some people are pro-crypto and will give you examples of people who’ve become rich overnight thanks to crypto-trading. While others who don’t like it will explain the absurdity of these currencies.

Regardless of your opinion on cryptocurrency, blockchain has huge potential to improve FinTech as it’s doing already. The blockchain enables distributed ledger technology (DLT) that allows you to record and share data across multiple data stores. Furthermore, blockchain enables other recent FinTech innovations like digital wallets, digital assets, decentralized finance (DeFi), and non-fungible tokens (NFT).

Things like smart contracts, digital wallets, and the blockchain make cross-border payments have faster settlement times, access to newer markets, lower costs, increased security, and greater transparency compared to traditional payment methods.

3. Voice-Enabled Payments

Voice assistants are becoming a part of daily lives. Regardless of the brand of your smartphone, there will be a smart assistant to help you navigate the phone and the web. Voice-enabled payments is a FinTech innovation that allows users to make payments using voice commands. This can be done through a variety of devices, such as smartphones, smart speakers, and even point-of-sale (POS) systems.

To make a voice-enabled payment, you need to have a linked payment method, such as a credit or debit card, or a mobile wallet. When you initiate a payment, the voice assistant will verify and authenticate it using your linked payment method.

Voice-enabled payments offer a number of benefits to both users and merchants. For users, voice-enabled payments are convenient and hands-free. They can be made without having to type or enter any information, which can be especially useful when users are multitasking or in situations where they cannot use their hands, such as when driving or cooking. Voice-enabled payments can also be more secure than traditional payment methods, such as credit cards, as they use biometric authentication to verify the user’s identity.

For merchants, voice-enabled payments can help to improve the customer experience and increase sales. They can also help to reduce fraud and improve operational efficiency.

4. Virtual/Online Cards

Cashless payments have been the primary mode of transaction for consumers. It is by and large better, faster, and easier than handing over cash. Some primary modes of cashless payments include online payments, debit cards, and credit cards.

The use of virtual cards is an emerging FinTech innovation that is making it easier for consumers to apply for new cards and use them conveniently. Since online shopping has become common, users relying on it completely don’t need to use their physical cards at all. Which begs the question, what if new users don’t ever need a physical card?

Virtual cards bring more to the table than just the convenience of applying and using them. They’re great for protection against fraud by limiting the amount of information shared during a transaction. They also offer spending control features like setting amount limits and choosing specific vendors only. As online shopping becomes even more mainstream than it already is, virtual cards will become better.

5. Robotic Process Automation

Automation is a major trend this decade in every industry. Businesses want to maximize efficiency and reduce labor costs using automation in every possible part of the process. Robotic Process Automation (RTA) uses AI, computers, or any machine to perform specific tasks. These tasks can range from copy and paste to filling or moving forms.

Now, this isn’t exactly a ground-breaking FinTech innovation. However, it solves mundane problems and improves general tasks. In FinTech, RPA promises to improve customer experience, increase productivity, and make the accounting process better.

Some other important applications of RPA are KYC and AML procedures where RPA automates manual tasks and helps with abnormal activity detection. It also supports banks with tedious processes like mortgage lending and loan underwriting.

Some people fear that RPA is a major threat to many jobs. That concern has its merits but the fact remains; If banks and finance institutions want to offer better customer services, they need RPA in some capacity.

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