Today is Tuesday, April 26 and JCPenney is reportedly looking to snap up long-time rival Kohl’s while payments startup Airwallex is possibly seeking more funding. Plus, automating AP processes saves time and money for CFOs.
Retail Rivalry: JCPenney and Kohl’s, longtime competitors in the apparel, home, jewelry and beauty retail space, could team up in an acquisition deal worth $8.6 billion. JCPenney owners Simon and Brookfield — two of the country’s biggest mall operators — are reportedly looking to pick up Kohl’s for $68 a share. READ MORE
Mo’ Money. Payments platform Airwallex could add another $150 million to its already-extended Series E funding round that could value the company at an estimated $5.5 billion. The Swedish startup is also mulling an initial public offering. READ MORE
AP Automation. Reducing the amount of time spent on accounts payable (AP) processes is something that 61% of CFOs are striving toward. Automation is critical for anyone in an AP leadership role in order to reap the benefits of improved capital management and cash flow. In the latest “AP Automation Tracker®,” PYMNTS examines how the changing needs of AP automation are unfolding at bigger organizations. READ MORE
Make it Digital. Utility company executives are aiming to make digital billing and payments processing the norm and see it as one of the main factors to drive growth. “The Digital Payments Edge: How Utility Companies Can Succeed In The Payment Processing Revolution,” a PYMNTS and ACI Worldwide collaboration, surveys billing and payments executives at utility firms to get a gist of their efforts when it comes to providing customers with a seamless, digital-first billing and payments experience. READ MORE
Unclogging Supply Chains. The pandemic is more or less in the rearview mirror, but some leftover issues are still a constant in everyday life. Supply chains are still suffering, for example, and ports remain clogged while the shortage of truck drivers continues to wreak havoc moving goods from points A to B to C. Krenar Komoni, CEO of supply chain provider and platform Tive, told Karen Webster that boosting the efficiency of supply chains comes with real-time tracking. READ MORE
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