We know. You’re secretly ready for this scorching summer to be over. The long days were nice and all, but they were also HOT, and now it’s time to put on some tweed and consume pumpkin everything like the grownup you are.

Amid the changing seasons, we know the absolute last thing on your mind is yet another dispatch about AI implementation in finance, but please, give us this one. You’re a savvy financial pro who needs to keep abreast of industry trends! It’s time to eat your vegetables.

While there’s been a slight slowdown in AI enthusiasm in recent months—in August, research and advisory firm Gartner said finance leaders need to temper their generative AI expectations—the same firm is out with two new reports that highlight some promising AI adoption figures across finance functions.

Finance is no longer a laggard: Last year, when Gartner conducted a survey of finance leaders’ AI adoption, Marco Steecker, senior director of research in the company’s finance practice, noted that “other administrative functions (such as HR, legal, and procurement) were twice as likely to be using or scaling out AI solutions compared to the finance function.”

That gap is now “almost nonexistent,” Steecker noted in a recent statement.

For more on finance’s adoption of AI, click here.—NP

It might be an old adage, but time really is money when it comes to everything finance teams juggle.

Time-consuming processes like manually reviewing expense reports and hunting down receipts distract finance teams from tasks that actually propel a business forward. Well, finance teams that aren’t using Ramp, that is.

From corporate cards to expense management to accounts payable, Ramp automates all your finance ops, putting time and money back in your hands. Here’s what else Ramp offers:

• corporate cards with built-in controls to prevent wasteful spending
• expense submission via text or the mobile app
• AI-powered software that flags non-compliant expenses
• automatic transaction coding, categorizing and mapping

And that’s just the tip of the Ramp iceberg. Time is money, folks. Get started today.

Is it finally time to say M&A is officially back?

EY’s latest monthly M&A report found that in August, the total value of large deals (worth $100+ million) reached $1.1 trillion, a 26% YoY jump. This was thanks in part to a 44% YoY increase in deal value last month, to $137 billion, according to the report.

Deal volume increased more modestly compared to value in August. The 115 deals last month marked a 5% increase YoY. Through the first eight months of 2024, deal volume was up 23% compared with the same period last year. EY now estimates M&A volume will finish 21% higher in 2024 than in 2023, a slight increase from the 20% spike it predicted a few months ago.

According to the EY report, “the surge highlights the confidence in the market across sectors to make strategic acquisitions. The sustained growth in larger deal values suggest that companies are capitalizing on certain valuations and opportunities for consolidation.”

Sectors driving deal activity include technology, energy, and life sciences, which are “buoyed by trends in digital transformation, sustainability, and healthcare innovation.” For instance, the technology sector has seen 256 deals totaling $258 billion in value through August, representing YoY increases of 43% and 65%, respectively.

For more on the M&A rebound, click here.—AZ

That giant mound of Keurig cups in your “recycling” bin just got a stern talking-to.

Keurig Dr Pepper (KDP) will pay a $1.5 million civil penalty to settle charges from the Securities and Exchange Commission alleging the company made inaccurate claims about the recyclability of its K-Cup pods, the agency said last week.

Per the SEC’s order, in annual reports for fiscal years 2019 and 2020, Keurig said its K-Cup pods “can be effectively recycled,” yet failed to disclose that two of the largest recycling companies in the US “expressed significant concerns to Keurig regarding the commercial feasibility” of recycling K-Cup pods, adding “that they did not presently intend to accept them for recycling.”

The SEC was concerned that the misleading claims may have influenced consumer behavior.

K-Cup pods made up “a significant percentage of net sales of Keurig’s coffee systems business segment” in fiscal year 2019, the SEC noted, while prior research from a Keurig subsidiary “indicated that environmental concerns were a significant factor that certain consumers considered, among others, when deciding whether to purchase a Keurig brewing system.”

In a statement it shared with CNBC and other outlets, Keurig said its “K-Cup pods are made from recyclable polypropylene plastic (also known as #5 plastic), which is widely accepted in curbside recycling systems across North America.”

Click here to keep reading.—NP

Future-ready. From growing workloads and complex tasks to hiring/retaining top talent, finance is changing—and it’s keeping accountants busy. FloQast and the University of Georgia teamed up to help leaders manage the new normal in Embracing Financial Transformation. This e-book analyzes data from accounting pros on finance’s transformation, AI, + more. Read here.