Thoughts as 2008 Draws to a Close (Finally!)

by Erin McCune on January 1, 2009

in Current Events, Finance

Dec 31

I am happy to see this year go!

It's hard, with all the market turmoil and uncertainty to remember the good things that happened this year. So, rather than dwell on the negative, here's my (admittedly subjective) take on 2008:

GOOD NEWS of 2008

  • As a result of the credit crisis many people are learning more about Finance – perhaps more than they ever wanted to know! Yet in the coming months (years?) businesses and consumers alike will be hard-pressed to manage their short term cash flow and invest in long-term goals without sound financial management. If anything good is to come from this crisis, let it be better understanding and appreciation of sound financial principles.
  • Liquidity concerns are great for e-payment. Businesses are gradually making more and more payments electronically. Tight credit makes companies eager to bring receivables in the door faster via ACH and card payments and motives companies to automate payables in order to better understand spending and manage cash outflows. (Watch for details about  a repeat of the Forte Financial + Glenbrook eB2B Payments workshop in NYC, May 2009.)
  • SaaS solutions are gaining momentum in the Enterprise space. This is particularly exciting for small-to-medium sized businesses, but will have great potential for larger companies, too. (Much more on this topic at ForteBlog in 2009.)
  • Social networking and Web 2.0 are shaking up the financial industry, challenging banks and personal finance management providers. As the economy continues to falter and consumers struggle to manage their finances, they are increasingly looking to hosted, community-oriented solutions. This in turn is attracting investment and innovation. (I'm doing a series of workshops and webinars on this topic in 2009. Stay tuned.)
  • And – last but not least – after a grueling (and occasionally tiresome) campaign the US has a new President Elect. We – and the rest of the world – are hopeful.

Thank you for your interest. I look forward to continued dialogue with the ForteBlog community in 2009. Best wishes for a festive New Year's Eve. (Don't forget to appoint a designated driver.)

– Erin & Forte Financial

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