Quora Discloses Data Breach

Quora announced Monday night a “malicious third party” gained access to one of its computer systems, potentially exposing the account data, including private messages, of about 100 million users.The company said the data breach was discovered Friday and the situation had been contained.The crowds...

By William Sprouse • Dec. 5, 2018

Hackers Target 35,000 CFOs for Phishing Scam

A group of Nigerian hackers included 35,000 CFOs in their list of targets for bogus requests to transfer money, highlighting the dangers of increasingly common “business email compromise” (BEC) scams.Cyber threat detection firm Agari reported the group known as “London Blue” chose their targets f...

By Matthew Heller • Dec. 5, 2018

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The CFO Strategy for Artificial Intelligence

Artificial intelligence’s impact on the office of the CFO continues to evolve, and finance chiefs must be aware of the opportunities it will create for growth. 

By CFO.com staff

Marriott Discloses Reservation System Breach

One of the largest data breaches in history may have exposed the personal information of up to 500 million people who made a reservation at one of Marriott’s Starwood hotel chains.Marriott disclosed on Friday hackers had gained “unauthorized access” to the Starwood reservation system since 2014 b...

By Matthew Heller • Dec. 3, 2018

Cloud ERP: The Time Has Come

Hardly any software vendors today want to be stuck with an on-premises-only product portfolio. In the ERP subsector, probably the most important technology area for CFOs, it took market leaders Oracle and SAP longer than most to diversify into the cloud. But now they’re leaders there as well.But ...

By Yasmin Ghahremani • Dec. 3, 2018

Ford, Walmart Unveil AV Grocery Delivery Project

Ford Motor is ramping up its strategy of developing commercial uses for self-driving technology, unveiling a joint grocery delivery project with Walmart and Postmates.The collaboration announced on Wednesday is aimed at creating a service that will use autonomous vehicles manufactured by Ford to ...

By Matthew Heller • Nov. 14, 2018

What Are the Top ERP Systems for 2019?

[Editor’s note: The opinions expressed in this article are the author’s and do not necessarily represent CFO‘s opinions.]A number of emerging trends herald an exciting year for the ERP market and companies’ digital transformations. First and foremost, I believe there will be a shakeup in the rank...

By Eric Kimberling • Nov. 7, 2018

Companies’ AI Leaders Sense Competitive Urgency

A lot of companies are just now starting to create use cases for cognitive technologies and artificial intelligence. A bit ahead of them are those that are staging limited pilot projects. It’s early days, they may be thinking. Why rush now to invest a lot of capital and effort in something with a...

By David McCann • Oct. 29, 2018

Google+ Bug Exposed Data of 500,000 Users

A software glitch in the Google+ social network exposed the private data of hundreds of thousands of users until it was patched in March 2018, Google said Monday in belatedly disclosing the bug.According to a post on a Google corporate blog, the bug meant app developers who were given permission ...

By Matthew Heller • Oct. 9, 2018

Tech Giants Unveil Data Portability Project

Four of the world’s tech giants have teamed up to develop new technology for moving data between apps, an approach they believe will ultimately lead to “universal data portability.”Many internet platforms already offer some kind of data-download tool, but those tools rarely connect with other ser...

By Matthew Heller • July 23, 2018

LabCorp Hit by Ransomware But No Data Stolen

LabCorp, one of the largest medical diagnostics companies in the United States, has disclosed it was hit by a ransomware attack, highlighting the vulnerability of health organizations to data breaches.LabCorp first reported the breach on Monday, saying in a regulatory filing that it had detected ...

By Matthew Heller • July 20, 2018

Equifax Agrees to Fixes to Prevent Another Hack

Equifax has reached an agreement with eight states to correct data security deficiencies that led to what may be the most costly breach in corporate history.The consent order addresses, among other things, Equifax’s failure to patch a software vulnerability, which hackers exploited to compromise ...

By Matthew Heller • June 28, 2018

Cryptocurrency Theft Hits $1.1B in Last 6 Months

A total of $1.1 billion in cryptocurrency was stolen over the past six months, with criminals increasingly using the dark web to facilitate theft on a large scale, according to a new report.Cybersecurity company Carbon Black said data from the FBI’s Internet Crime Center showed the volume of cryp...

By Matthew Heller • June 8, 2018

Robotics Is Going Mainstream in Finance

Following a number of years during which robotic process automation (RPA) was something only a relatively small number of companies had yet dabbled in, notable progress is now evident, a new report suggests.In a survey of 500 senior finance executives in North America and Europe by technology and...

By David McCann • May 31, 2018

Researchers Find ‘eFail’ Threat to Email Privacy

Cybersecurity experts in Europe have identified flaws in the popular PGP and S/MIME email encryption standards that could expose plaintext versions of encrypted messages to hackers.PGP, which stands for Pretty Good Privacy, has protected the privacy of the messages of journalists, whistleblowers,...

By Matthew Heller • May 15, 2018

HSBC Claims Blockchain Breakthrough for Trade

In a milestone for trade finance, HSBC announced Monday it had used a blockchain platform to process a shipment of soybeans for agribusiness giant Cargill.The U.K. bank said the digital transaction involving a bulk shipment of soybeans from Argentina, through Cargill’s Geneva trading arm, to Mala...

By Matthew Heller • May 14, 2018

Future of Finance: Humans and Machines Unite

Today, it seems you can’t go even a few days without hearing about the exciting — and also disruptive — implications of emerging technologies and advanced use cases for data and analytics. For finance leaders in particular, the promises of new developments in machine learning, predictive analytic...

By Eric Dowdell • April 30, 2018

Data Privacy Hoopla Is a Wake-Up Call

With Mark Zuckerberg enduring another day of grilling by members of Congress on Wednesday, it’s difficult to escape the conclusion that a watershed moment in the annals of consumer data privacy is at hand.But even before the Cambridge Analytica scandal came to light, consumers were up in arms ove...

By David McCann • April 11, 2018

Hackers Hit Hudson’s Bay in Latest Retail Breach

Hudson’s Bay has become the victim of one of the largest data breaches to hit a retailer, with cybercriminals stealing up to five million payment cards issued to customers of its Saks Fifth Avenue and Lord & Taylor stores.The Toronto-based company disclosed Monday that it had become aware of ...

By Matthew Heller • April 2, 2018

Atlanta Hack Highlights Ransomware Dangers

The city of Atlanta is still struggling to recover from a devastating cyberattack that its mayor has compared to a “hostage situation” and security experts say is a reminder of the vulnerabilities of government computer networks.The ransomware attack on Thursday targeted Atlanta’s online systems,...

By Matthew Heller • March 28, 2018

IBM Adds Watson Assistant to AI Portfolio

IBM has launched a new service based on its Watson technology that businesses can use to power voice-activated virtual assistants for their own products.An enhancement of IBM’s “Watson Conversation” service, the Watson Assistant is not tied to any one device but can be used by partners who licens...

By Matthew Heller • March 22, 2018

Spending on Digital Tech Will Spike This Year

Companies are planning a major boost in spending on digital transformation over the next year, according to a survey of senior finance executives by Grant Thornton in partnership with CFO Research.Among 304 executives surveyed, more than two-thirds (69%) said they plan to make greater investments...

By David McCann • March 9, 2018

Equifax Hack Could Cost ‘Well Over $600M’

Equifax’s massive 2017 data breach, which compromised the personal information of more than 147 million consumers, could turn out to be the most costly in corporate history.The credit reporting bureau disclosed Friday that it expects to incur another $275 million this year in costs related to the...

By Matthew Heller • March 5, 2018

IBM, Maersk to Bring Blockchain to Shipping

IBM has announced a joint venture with Danish shipping giant Maersk to use blockchain technology to cut through the red tape of global trade.The companies said their “global trade digitization platform” is designed for use by the entire global shipping ecosystem, including shippers, ports, custom...

By Matthew Heller • Jan. 17, 2018

Patches for Chip Flaws May Slow Down PCs

Microsoft has reported performance issues with computers and servers resulting from security patches for vulnerabilities in hardware chips from Intel and AMD.Patches for the memory corruption flaws known as Spectre and Meltdown were first released on Jan. 3. The bugs could allow hackers to bypass...

By Matthew Heller • Jan. 11, 2018

Kodak Plans Cryptocurrency for Photographers

An iconic name is joining the blockchain as Kodak announced plans to launch a cryptocurrency as part of a blockchain-based rights-management service for photographers.The KodakOne service uses blockchain technology developed by Wenn Digital and is designed to allow photographers to track the use ...

By Matthew Heller • Jan. 10, 2018