“ClearConnect Gateway ensures that treasury teams and the office of the CFO have a modern, maintenance-free API-connectivity architecture always at their disposal,” said Victoria Blake, Chief Product Officer, GTreasury.

Seamless Data Connectivity with Wells Fargo

This integration is not just about expanding GTreasury’s data connectivity suite. It’s about empowering businesses, particularly treasury teams and CFO offices, with effortless access to real-time and historical financial data. Wells Fargo’s addition to the ClearConnect Gateway bolsters a growing list of integrations, including Bank of America, Goldman Sachs, and JPMorgan Chase.

The ease and speed of accessing financial data via this integration underscores its importance in strategic business planning and decision-making. Data-driven insights are not a luxury but a necessity in the modern business landscape.

Empowering Treasury Teams with Real-Time Data

The GTreasury Wells Fargo Integration promises more than just instant data connectivity. It ensures that organizations have real-time visibility into balance and transaction data, a crucial factor driving accurate and informed business decisions. The ClearConnect Gateway replaces the traditional slow and expensive banking connections with a modern, seamless, and efficient API connectivity and data integration.

“Integrated data sources and seamless information access mean greater accuracy, improved efficiency, and more time for treasury teams to devote to high-level tasks,” the GTreasury team highlights.

A Glimpse into the Future of API-Connectivity

In a world where the demand for real-time data is insatiable, this integration is a giant leap forward. GTreasury isn’t just providing a solution; they are setting a standard, crafting a future where data accessibility and accuracy are not just desired but inherently integrated into the fabric of business operations.

GTreasury’s Global Impact

With its headquarters in Chicago and locations serving EMEA (London) and APAC (Sydney, Singapore, and Manila), GTreasury continues to carve out a niche in the global market. Their innovative solutions are not just about numbers and data; they are about people, teams, and organizations reaching their full potential.

Conclusion

The GTreasury Wells Fargo Integration is more than a technological advancement; it’s a pathway to informed, accurate, and timely business decisions. In a world inundated with data, the ability to access, interpret, and utilize this data effectively is the cornerstone of successful business strategy.

We’re eager to witness the transformative impacts this integration will bring to the world of finance and beyond. But the conversation shouldn’t end here. What are your thoughts on this integration? How do you see real-time data shaping the future of business decisions? Share your insights and join the conversation below in the comments section! We’re excited to hear your perspectives!

Please visit our homepage for the latest scoop in the business technology landscape!

The post GTreasury Wells Fargo Integration Promises Instant, Seamless Data Connectivity first appeared on Tech Insight.

In the constantly evolving landscape of the digital economy, ensuring effective tax and accounting compliance has been a prominent challenge for online marketplaces, especially those based in or dealing with the EU. TaxBit, the acclaimed pioneer in providing comprehensive tax solutions, emerges as the beacon of innovation with its recently launched “TaxBit DAC7 Compliance Solution”. This meticulously crafted solution is not just a tool but a comprehensive strategy that automates tax compliance, infusing a blend of accuracy, trust, and regulatory adherence.

Key Features and Benefits for EU-Based Digital Marketplaces

The introduction of the TaxBit DAC7 Compliance Solution comes as a breath of fresh air for businesses entwined in the intricate webs of taxation. Erin Fennimore, Vice President of Tax Solutions at TaxBit, aptly encapsulates the essence of this innovation, stating:

“As the digital economy continues to evolve, TaxBit remains committed to simplifying the complexities of tax compliance for businesses globally.”

The solution is a testament to TaxBit’s unwavering dedication to fostering a milieu of trust, precision, and compliance in the fluctuating regulatory environment.

With effortless onboarding, businesses can seamlessly collect and verify Personal Identifiable Information (PII) within the app, ensuring a streamlined process that is as effective as it is efficient. Moreover, the alignment with the DAC7 regulatory framework guarantees that businesses not only meet but excel in their reporting obligations, ushering an era of transparency in taxation.

Navigating the Complex World of Digital Economy Taxation

In a world where digital tax compliance in the EU is as complex as it is essential, the TaxBit DAC7 Compliance Solution stands as a vanguard of simplification and efficiency. It empowers online marketplaces to generate the annual DAC7 XML Report to EU Member States with unmatched ease and precision. The secure TaxBit Dashboard establishes a centralized hub for managing essential tax, accounting, and compliance procedures.

TaxBit: A Trusted Partner in Global Tax Compliance

The TaxBit DAC7 Compliance Solution is not just a product but a commitment, a promise, and a partner to digital marketplaces navigating the tumultuous waters of the global digital economy’s taxation. Aligned with the ethos of empowering businesses, TaxBit is not just on the frontier of innovation but is the frontier, transforming challenges into opportunities and complexities into simplicity.

In Summary

TaxBit is not just changing the game but is redefining it, setting new benchmarks of excellence and innovation in the realm of digital tax compliance. As we navigate through the intricate corridors of the digital economy’s taxation landscape, solutions like TaxBit’s DAC7 are not just welcomed; they are essential.

We invite you to explore and engage with this innovation that promises to be a cornerstone in the evolving narrative of digital taxation. How do you perceive the impacts of automated tax compliance solutions like TaxBit’s DAC7 in transforming the digital economy’s taxation landscape? Share your insights, perspectives, and foresights in the comments below. Let’s delve deeper into this dialogue, exploring the intersections of technology, taxation, and trust in the digital age.

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Modernization and migration of enterprise workloads to IBM Cloud frequently necessitate parts of their services to run on various other cloud networks. This practice poses a technical challenge for secure and reliable connectivity, especially in regulated sectors such as banking, insurance, and healthcare. This blog aims to iron out common questions, providing essential insight for connecting IBM’s application workloads to multiple clouds.

Understanding the Distribution of Workload across Multiple Clouds

Regulated enterprises manage intricate processes that often demand a blend of specialized services or applications not native to the same cloud. Companies depend on managed service providers operating on a centralized cloud that required dispersed resources to cater to varying regulatory requirements, risk of vendor lock-in, and to prevent outages.

A Look at Typical Workloads Demanding Multicloud Connectivity

The workloads necessitating multicloud interaction mainly fall into categories like application data exchange, batch data transfer, administration access, monitoring and tooling data transfer, and data replication.

Connecting IBM Cloud Regulated Workloads to Other Clouds

Enterprises working with IBM Cloud often follow the VPC-based reference architecture from IBM Cloud for Financial Services. Businesses can facilitate secure connections between their Virtual Private Clouds (VPCs) and other clouds or networks using services such as IBM’s Site-to-Site VPN, Direct Link Connect, and Direct Link Dedicated.

Exploring Various Modes of Multicloud Connectivity

The three primary methods for establishing connectivity between workloads running across different cloud providers are over the public internet, through connectivity partner networks, and direct connectivity at data center facilities. The selection of the correct method aligns with an enterprise’s long-term strategic objectives and technical requirements.

To conclude, regulated business entities have multiple options to secure the connectivity of their multicloud workloads across diverse cloud platforms and on-premises networks. Provided with a variety of offerings matching their specific needs, businesses can pick the best solution for establishing their connections.

Engage in the comments below to share your insights or ask any questions. We value your perspective and look forward to a knowledge-exchange community!

Learn more about how to navigate multicloud connectivity for regulated enterprise workloads on the IBM Cloud for Financial Services platform.

The post Mastering Multicloud Communication for Regulated Industry Workloads via IBM Cloud first appeared on Tech Insight.

What happened at Splunk’s .conf23? 

The conference was huge, with more than 7000 attendees, 1500 partners and 40 sponsors. Along with educational workshops and keynote speeches, there were over 200 technical breakout sessions. All these offerings work to provide attendees with technical and theoretical knowledge to bring back to their teams. This will boost digital resilience and extend the benefits to their customers. 

Gary Steele, president and CEO of Splunk said ahead of the event…

“Splunk is celebrating 20 years of helping organizations around the world keep their digital systems secure and reliable,” …  “To mark the occasion, we will unveil exciting new AI-enhanced products and other powerful innovations across security and observability to thousands of our customers and partners at .conf23.”

Representatives from FedEx, Carnival and IKEA were all in attendance. And VMware came along to share their latest security and observability products. At the start of the conference Splunk customers and executives came together to demonstrate their unified security and observability platform. Splunk Enterprise Security allows businesses to manage their security risks with data-driven insights, ML-powered threat detection and full visibility. 

.conf23 Highlights 

One of the stand out educational sessions of the event was run by CardinalOps about MITRE ATT&CK, a group of over 500 techniques used by threat groups including APT28, the Lazarus Group, FIN7, and LAPSUS$. It’s thought that already 89% of organisations use these methods to mitigate security risks, so this talk tapped into a vital topic. 

CardinalOps’, MITRE ATT&CK Security Layers solves several prevalent operational problems, extends protections and provides users with “detection-in-depth”. The new tool will allow users to quickly find blind spots, which can ultimately be rectified. 

The world of business is becoming more and more digitised which brings with it many unprecedented security risks. Company leaders need to be adaptable to these changes. The solutions put forward by .conf23 speakers and partners would help enable this development. 

Jon Oltsik from TechTarget’s Enterprise Strategy Group said…

“As the digital landscape evolves, organizations really need a holistic approach to security and observability. A comprehensive strategy can help security teams safeguard their valuable assets, detect and address potential threats proactively, ensure regulatory compliance, maintain operational continuity and build trust among their stakeholders,” … “Splunk’s latest innovations can help, as they are designed to empower and speed up IT operations, security operations and engineering teams’ work and collaboration for detecting, investigating and remediating security issues.”

Conclusion

Splunk’s inspiring .conf23. Bought together thousands of people keen to learn about cybersecurity and observability. As all businesses now rely on the digital world, executives will benefit from engaging with these discussions. Not just to handle their own companies’ security risks but to find new ways of working in our changing world. Will you be at Splunk’s conference next year?

The post Splunk’s .conf23 Responds To Our Unprecedented Cybersecurity Landscape first appeared on Tech Insight.

In a significant development within the technology sector, IBM has announced its involvement in the Internal Revenue Services’ (IRS) $2.6B IT modernization program. The leap in IBM’s IRS modernization project signifies an integral milestone in restructuring the IRS’s technological footprint and reshaping the way the agency communicates with taxpayers and the tax community. This is a crucial step forward, aligning with the agency’s six-year Modernization Plan, announced in 2019.

The IRS, with its expansive reach and critical interaction points with the public, is poised to undergo a transformative journey in the coming years. With this award, IBM underscores its comprehension of the IRS’s technology challenges and highlights its firm-wide dedication to the mission at hand.

IBM’s Role in EDOS Contract

Susan Wedge, managing partner, U.S. Public and Federal Market at IBM Consulting, commented:

“The IRS is arguably one of the federal agencies with the most direct and crucial touch points with the American public, and IBM is honored to continue helping its team provide the modern, efficient digital experience that taxpayers expect and deserve.“

IBM’s participation in the Enterprise Development Operations Services (EDOS) contract is pivotal in bringing about technological advancements in the IRS’s infrastructure.

The Impact of IBM Technology on the IRS

As a leading provider of global hybrid cloud, AI, and consulting expertise, IBM is well-poised to offer cutting-edge solutions for the IRS. The IBM IRS modernization effort will streamline the agency’s business processes, reduce costs, and provide a competitive edge in their industry. With the support of IBM’s hybrid cloud platform and Red Hat OpenShift, government and corporate entities can expedite their digital transformations effectively and securely.

IBM’s breakthroughs in AI and quantum computing, along with their industry-specific cloud solutions and consulting, provide open and flexible options to the IRS. This is further backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity, and service.

A Noteworthy Initiative

The IBM IRS modernization plan is a noteworthy initiative, indicating the growing role of technology and AI in reshaping government operations. As we continue to follow IBM’s work with the IRS, we invite our readers to join the discussion. What are your thoughts on this technological transformation? How do you foresee this impacting the taxpayer experience? Share your views in the comments below. For more information, visit IBM’s official website.

The post IBM Joins $2.6B IRS IT Modernization: A Leap for Digital Transformation first appeared on Tech Insight.

For the past three years, the UK has had the bare bones of a new Industrial Strategy that is forward-looking, and imaginative, and sees technologies such as robotics, artificial intelligence, autonomous vehicles, digital health, and renewable energy sources as critical to economic prosperity.

These technologies will help the UK meet the ‘grand challenges’ of the future, says the government – clean growth, caring for an ageing society, future mobility, and forging a role for AI in a data-driven society. Those concepts are core to the Industrial Strategy and its associated missions.

One problem facing the UK, however, is that this strong message – which could inform and inspire the populace, galvanise business, and impress overseas investors, partners, and researchers – has been largely drowned out by the political infighting of Brexit. As the Chair of a Westminster eForum event observed earlier this year, both the country and Parliament are “impaled” on the issue.

That hasn’t stopped some ambitious programmes from taking place. Investments from UK Research & Innovation – via Innovate UK and the Industrial Strategy Challenge Fund – have bet millions of pounds on British startups and innovators, alongside the new Sector Deals that combine public funds with private sector backing.

Meanwhile, via Innovate UK’s and the Knowledge Transfer Network’s Expert Missions, the UK has been reaching out to countries such as the US, China, Japan, Canada, and South Korea to open the door to British startups, academics, and blue chips. The programme puts technologies such as robotics, AI, digital health, and quantum computing at its core.

On 9 September, a new report, Automation and the Future of Work was put to the government, a draft document that seeks explanations for why UK productivity has been flatlining since 2008-09. It proposes the operational and strategic opportunities presented by robotics and artificial intelligence as a partial remedy.

It explains that the problem is not that the UK has too many robots in the workplace – despite the media’s obsession with job-taking machines – but that it has too few. In 2015, the UK had just 10 robots for every million hours worked, compared with 167 in Japan. By 2017, we represented just 0.6 per cent of industrial robotics shipments worldwide.

According to the International Federation of Robotics (IFR), the UK is the only G7 economy with a below-average robot density: 71 robots per 10,000 workers, against a global average of 74 (a more recent study suggests the global average is 85).

By contrast, South Korea has 631 – and, it’s worth noting, a human unemployment rate of just 3.1%. Japan has nearly 300,000 industrial robots (and 23 percent of all the world’s robots) and an even lower unemployment rate: of 2.4 percent. The UK is a mere 22nd in the world automation league, and this is a major reason for its lack of productivity growth.

The report adds that, despite its many promises and endorsements, the government needs to start backing its vision with concerted action and bigger investments to match the ambitions of China, Japan, and the US in these fields. Yet despite the report’s strong wording and resolute aim, it was presented on the same day that Parliament was prorogued, meaning that, once again, a powerful message was lost amid the uproar of Brexit.

Of course, Leavers and political commentators would maintain that these problems would be solved by simply enacting Brexit and shifting focus back to the domestic and international agendas. But that isn’t the case. For one thing, roughly 80 per cent of the UK’s investment in robotics and AI in recent years has come from the EU. For another, the robotics report (commissioned by the government itself) explains that immigration and Europe remain critical to the UK’s ambitions in this field.

“Government’s immigration policy should provide certainty and ensure that as we leave the EU, we can recruit and retain researchers from around the world to support the sector, including where they earn below the £30,000 threshold recommended by the Migration Advisory Committee.

“We recommend that the government seeks to ensure that the UK has at least associate membership of EU research projects and can effectively collaborate with neighbouring states. The Government should seek to ensure that our future relationship with the EU and future deals with the rest of the world support new collaboration between institutions, including the free flow of researchers and academics.”

In other words, this story will run and run – and keep running for years into the future.

But there is another problem facing the UK, one that may be tougher to solve: it’s a generational issue rooted in the country’s political institutions.

Whatever your party’s political views may be, and whatever your views on Europe, Leave, or Remain, one thing is becoming increasingly obvious. The very people who are leading the charge out of Europe consistently present themselves as Luddites, rather than as forward-thinkers who are presenting a bold, technology-backed vision of the future to the nation’s youth.

Take the words of the Prime Minister himself at the UN this month – a speech that took place just before he was forced to return to the UK and reopen Parliament. “AI – what will it mean? Helpful robots washing and caring for an ageing population? Or pink-eyed Terminators sent back from the future to cull the human race?

“What will synthetic biology stand for – restoring our livers and our eyes with miracle regeneration of the tissues, like some fantastic hangover cure? Or will it bring terrifying limbless chickens to our tables?

“In the future, voice connectivity will be in every room and almost every object: your mattress will monitor your nightmares; your fridge will beep for more cheese.

“A future Alexa will pretend to take orders. But this Alexa will be watching you, clucking her tongue and stamping her foot.

“You may keep secrets from your friends, from your parents, your children, your doctor – even your personal trainer – but it takes real effort to conceal your thoughts from Google.”

He concluded his speech by – like the Victoriana-obsessed Jacob Rees-Mogg before him – wearing his classical education on his sleeve, rather than a bold vision of the future.

“When Prometheus brought fire to mankind. In a tube of fennel, as you may remember, Zeus punished him by chaining him to a Tartarean crag while his liver was pecked out by an eagle. And every time his liver regrew the eagle came back and pecked it again. And this went on forever – a bit like the experience of Brexit in the UK if some of our parliamentarians had their way.”

This is precisely the wrong note to hit if Britain is to have a global future outside of the EU, striking new deals and leading the way into a more modern economy.

Why? This is the voice of a Luddite and a reactionary, not a voice that entrepreneurs, business leaders, scientists, technologists, or anyone under the age of 50 want to hear. Where is the vision to inspire the nation’s young people? (This is one reason for the rise of the youth-led anti-climate-change movement: young people are crying out for leaders who speak their language – or who even notice that they exist.)

The voice that Johnson presented to the world on his UN platform was more concerned with its own wit, making jokes about drunkenness, dominant women, cheese, and mythology – more a vision of domestic life with Boris Johnson, in fact, than of Britain standing proud in the world. This was a self-conscious, backwards-looking, traditional, gluttonous, joker’s voice, playing to the gallery of angry middle England.

It’s time for a reality check. The UK can’t have both a modern Industrial strategy with a global stance, and this kind of public persona on the world stage. Not for any party political reasons (the leaders of other political parties are often seen as Luddites too), but because one comprehensively undermines the other. It’s akin to taking a cricket bat to the UK’s industrial policy – the one written by this government.

The more our political representatives, whichever party they front, use this kind of tone, the more they make it impossible for the nation to succeed in the modern world and restore global confidence in its vision and economy. It’s time to ask: Who is the UK in 2019: Downton Abbey in Downturn Valley? Or a modern industrial, forward-looking country with a bold vision of the future?

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