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Retailers may not be ready for Amazon to hit Australia

June 22, 2017
Australian retailers have already experienced a significant downturn this year with insolvencies increasing. Amazon’s impending arrival in Australia may be another hit for the sector, adding to the pressure for local retailers who may struggle to compete when it comes to cost, convenience, and range. Recent research from the ABS showed there has been a 0.1 per cent drop in retail spending and the...

Four tips for a successful new financial year

June 16, 2017
With the end of the financial year fast approaching, businesses should get organised, reconsider business practices, so they can plan for success, according to Concur. Matt Goss, ANZ managing director, Concur, said, “Retaining customers, remaining financially solvent, and expanding and diversifying are key challenges for most businesses. Using the new financial year to reassess structure and cut...

Why businesses must consider their cybersecurity before the end of financial year

June 13, 2017
Businesses that fail to properly secure their environments are leaving the door open to the increasing threat of cyberattacks and the resulting financial and reputational repercussions. In the wake of recent attacks and with the end of the financial year in sight, now is a good time for Australian businesses to strengthen their cybersecurity defenses, according to Palo Alto Networks. Ian Raper,...

Slavery in the supply chain: the Federal Parliament’s Inquiry into establishing a Modern Slavery Act in Australia

May 31, 2017
Consumers and governments are looking to the business sector to do more to address the international problem of slavery in the supply chain. The Australian Parliament has recently been conducting an inquiry into whether Australia should adopt national legislation to combat modern slavery, comparable to the UK’s Modern Slavery Act 2015 (MSA). Michael Milnes, Head of Commercial Law - Practical Law...

How businesses can control employee expenses and save money

May 30, 2017
Many finance departments face challenges with their expenses process. The combination of paper receipts and spreadsheets can make the process difficult for all involved. Yet, the expenses process is one of the most important elements in controlling overall business and employee spend, according to Concur. Murray Warner, business development director, Concur said, “All businesses are looking to...

From the back seat of a car to building a business

May 30, 2017
After working from the back seat of a car through winter and summer and not paying himself a salary for the first nine months, Rahul Daga’s revenue has increased by 75% from the last financial year. Rahul started with the Snap family in 2004, working as a Sales Consultant for two franchises, Blacktown and Seven Hills in Western Sydney.  “I was working alternate days with each centre and helping...

Security and privacy concerns when moving to the cloud

May 30, 2017
As cloud offerings continue to grow and become more attractive in coming years, so will their risks. Michael Shatter, partner, Risk Advisory Services, RSM Australia said, “With demands for greater productivity and profitability, businesses are seeking initiatives that offer greater scalability, diversity, and processing capabilities. As a result, we have seen a widespread transition to the cloud...

How companies can learn to swim in the data lake

May 30, 2017
By Kevin Park | APAC platform alliance lead | Concur How companies can learn to swim in the data lake Big data refers to the huge and growing amounts of information available to businesses due to increased digitisation of business operations. Every time a customer interacts with an organisation, it creates a new piece of data, whether they engaged via email, online, social media, or telephone....

Misunderstanding millennials: why it’s essential for businesses to understand what drives this lucrative market

May 26, 2017
When it comes to describing millennials, stereotypes abound, yet new research by Qualtrics and Accel has found that this demographic may be the most misunderstood generation. Businesses looking to target the lucrative millennial market segment must learn to understand millennials to improve their chances of success. Qualtrics and Accel surveyed more than 6,000 millennials, Gen Xers, and Baby...

Fear of change is holding businesses back – Entrepreneur shares tips to stand out from the competition

May 26, 2017
Change is inevitable in every industry. Businesses need to recognise and respond to these opportunities before their competitors do. Often it’s difficult to realise that limitations in business growth are self-imposed by mind maps from former success. Past perceptions limit what we ‘see’. Tim Kremer, co-founder of Avaza (www.avaza.com), Australia’s fastest growing Work Management software, shares...

What to look for when outsourcing your Payroll

May 23, 2017
BDO comments in the wake of alleged payroll-linked fraud In the wake of the recent, alleged fraud involving an Australian payroll service provider, Mark Molesworth, Tax Partner at BDO said now is a good time for businesses to assess their payroll provider arrangements and review associated risks. “If you are using a payroll service provider now is the time to assess the provider’s integrity and...

What is the quickest way to expanding market share?

May 22, 2017
By Raz Chorev, Founding CMO at Orange Sky There are a handful of tactics companies can employ to increase their share of market. But first, let’s understand what market share is, before we get into tactics.Market share represents the percentage of an industry or market's total sales that is earned by a particular company over a specified time period. Market share is calculated by taking the...

Australia Leads the Way in Global Adoption of IoT

May 17, 2017
Teradata study also finds Australia second only to Germany when it comes to organisational uptake of big data and analytics Businesses operating in Australia are embracing big data and backing the growth in the Internet of Things (IoT) to maintain global competitiveness - that is according to the findings of a study released today by Teradata (NYSE: TDC), a leading analytics solutions company....

5 Goals Every Business Should Set

May 12, 2017
Setting goals is an important part of running a business – not only because it determines the direction you go in, but also because it keeps you motivated to actually get the job done. Still, coming up with goals you want your business to accomplish may not always be as easy as it seems. With this in mind, we have come up with 5 goals that every business should set. Making your meetings more...

The Treasurer digs, tunnels, flies and powers out of a deficit but not much for small business

May 10, 2017
Mark Molesworth, Partner with tax experts BDO, said the Treasurer has flagged his intention to dig, tunnel, fly, and power its way out of a deficit with the launch of its  A$75 billion infrastructure plan. “Building infrastructure for the future of Australia - and borrowing where necessary to do so - is a good solution for the government, so long as the chosen projects increase productivity in...

High mortgages having repercussions for the Australian retail sector

May 9, 2017
The $1.6 trillion mortgage debt is having a negative effect on the Australian retail sector, according to trade credit insurance provider, Atradius. Mark Hoppe, ANZ managing director, Atradius, said, “22% of households are in mortgage stress and this is really being felt by the retail sector. (1) Because people tend to have such high mortgages, they’re less inclined to spend money on retail items...

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