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How The Age Of Acceleration Is Changing The Business Of Service

By 2020, there will be more than seven connected devices for every person alive. Service providers must anticipate this new reality, the speed at which it’s emerging, and its impact on business models.  The global economy is in the middle of the most disruptive period in all of human history. Companies that have been fuel for the global economic engine that powered the late 20th century are quickly disappearing from the global stage. According to the Olin School of Business, 40% of today’s Fortune 500 companies will be gone in the next 10 years. Much of this business transformation is due to the accelerated advancement of technology. We are, in effect, making better and cheaper things that enable us to make better and cheaper things. Organisations that do not recognise this reality, ......

Shaking The Tree: Disruption Hits Capital Equipment Assets (And Why That’s A Good Thing)

If you had to pick a moniker for this decade, then “disruption” is a pretty good one. It’s now so pervasive that it’s almost become a cliché of itself. Everywhere you look, from banking to music to taxis and hotels, traditional business models and markets are being disrupted. All driven by technology being applied in innovative new ways. Now it seems it’s the turn of capital equipment assets and the machines themselves to be disrupted – or at least the way we manage, use and maintain them. Industrial downtime is no joke. Unplanned downtime in just about every industry has a significant impact. The Aberdeen Group last year reported that the cost of downtime across industries went up to $260,000 per hour on average between 2014 and 2016. That’s a huge jump with a considerable hit on any busi......

Top 4 Workplace Motivators To Boost Productivity

For a team of motivated, hard-working individuals, nothing stands in the way of peak productivity and inhibits the pursuit of company’ goals. Therefore, motivation is never to be taken for granted. Each and every person has different motivations and expectations regarding work. That is not to say that satisfying everyone is an insurmountable task. Work environment always has a profound impact on motivation, engagement, and productivity. 1. Money & More On Mind Studies have revealed that money is not the top work motivator. Then again, it is still one of the main driving forces, so underpaying your work would be a wrong move. So, a company must provide a fair salary and benefits in order to attract and retain a committed workforce. The financial aspect encompasses not only compensation ......

4 Ways Technology Can Change The Modern Workplace

The adoption of technology in organisations has drastically contributed to reshaping the average workplace in many parts of the world. The environment that formed a majority of the offices a couple of decades ago is no longer. Technological advancement has taken over the traditional office environment, giving employees a chance to have a better interaction with the global market; as well as reduce their workload. The use of new technologies in organisations has brought a lot of convenience in professional and personal lives. Particularly, facility managers and human resource leaders are some of the people who are having the best of technological advancement and use in organisations. Nowadays, almost every aspect of an organisation runs on technology. For a business to make high returns and......

Quick-Fix Tips To Beat The Back-To-Work Blues

When the summer holiday season comes to an end, for many of us, the all too familiar “back to school” feeling descends along with the pumpkin spice latte: the final nail in the coffin which signifies the end of the warmth and sunshine. The out of office replies have been removed, the coffee is being poured by the gallon and employees often struggle to exit vacation mode and regain productivity. This can also lead to unwanted security side effects; as passwords are forgotten and software updates are long overdue. In order to give teams the best chance of succeeding in the post-holiday season, now is a good time to do an audit of workplace processes and practices to improve workflow and security while warding off the back to work blues: Crack Down On Meeting Etiquette Respect start and end t......

Predictive Analytics: How It Can Improve Your Business

In a world where data is constantly being generated and where businesses have an unprecedented amount of insight into their customers, predictive analytics has never been so important. This form of analytics uses data, algorithms and machine-learning techniques to identify how likely a future outcome will be based on what has happened in the past. Predictive analytics, therefore, has now become a vital part of business strategy. Businesses can analyse data from past activities in order to identify what is likely to happen in the future, and therefore pivot their services accordingly – transforming datasets into actionable insights that make a real impact. When it comes to marketing, marketing departments have come to the forefront in business, helping drive profit and growth. The abi......

MiFID II Offers A Chance For A Much-Needed Data Cleanse

Investment companies can look forward to increased visibility throughout the trading workflow in the coming months. Challenges remain on how data is processed and managed but technology will provide the answers. The upcoming MiFID II regulations will increase the role of Legal Entity Identifiers (LEI) in the trading workflow. MiFID II requires that all entities need to be able to identify each other using a LEI. Essentially that means no LEI, no trade. Existing trading and portfolio management systems should be able to handle aspects of this process with relative ease; just add on a new field for each broker or client account, for example, that can store the LEI. However that may not be the end of the challenge. We know that the Global Legal Entity Identifier Foundation (GLEIF) estimates t......

The Best Ways To Test Your Business Idea

So you’ve had the idea, and the Next Big Thing is in your hands. But before you start, developing your business or product, and definitely before you can start making money, you need to test your idea to see if it works. Testing it out will save you stress, money and hassle later down the line. Unfortunately, not everyone will share your passion and vision from the off, so you need to be able to prove that your business idea is viable if you’re looking to start a business, particularly if you will require funding. You’ll need to show how you’ve tested it, and justify that it’s a good concept based on the proven fact there’s a market there. First things first, you need to build your minimum viable product – the simplest form of whatever it is that you’re going to deliver. You could skip thi......

Is Your Business Ready For The Generation Z Revolution?

96% of Generation Z own a smartphone! A staggering statistic, but an example of how technology has been ingrained into the core characteristics of our future workforce. Born into a world of constant updates and instantaneous access to information, Generation Z has had to adapt to processing and filtering a lot of information. This makes them great multi-taskers – but prone to suffering from a low attention span. The good news for businesses is that Generation Z employees are entrepreneurially inclined and will pursue more efficient avenues of progression to start new ventures. So what can you do now to prepare your business to harness these skills and attract the talent of the future? Generation Z employees are looking for fun, sociable environments to work in. They want training, personal......

6 Things Entrepreneurs Must Do To Protect Their Assets

Entrepreneurs spend a lot of time in growing their business, but often fail to focus on protecting their assets. All the effort of today can easily be lost if efforts are not also made to plan for tomorrow. Asset protection helps not only you, but your family after you pass away. Assets generally include investments and retained earnings, but it can also encompass patents, proprietary technology and exclusive contracts with suppliers. Entrepreneurs need to think and prepare for unforeseen events such as death and make sure proper succession plan is put in place to facilitate smooth transition. With that in mind, here are a few tips entrepreneurs should follow in order to better protect their finances and assets… 1. Make A Will The first call to action in setting up your financials fo......

5 Ways To Bring Skeptical Clients To Your Business

Dealing with some clients who might be wary about your business and what it has to offer can be one of the major challenges as a business. Whether you are brand new and trying to attract your first clients or you have been established and want to encourage a new demographic to check you out, knowing where your clients are coming from can make all the difference. Here are five ways you can encourage skeptical clients to consider you rather than the competition… 1. Know Your Buyer Well Before you even begin any sort of marketing campaign, you want to know exactly who you are planning on selling your product to. This might mean that you need to sit down with your team and think about exactly what methods you want to take, who your buyer persona is, and why he or she might be hesitant ab......

5 Ways Technology Helps A Business To Grow

Technology helps a business to grow seamlessly, and it is a proven fact. Companies that accept technological improvements for business process management are found to be more successful as well as long sustaining. There are certain ways in which modern technologies can help business. To make a business process seamless as well as long sustainable, different kinds of technological improvements have been done. 1. Make A Business More Profitable Technological improvements make a business more profitable as it helps to reduce the use of human efforts. As a result, it saves a lot of efforts and it also saves time. Most importantly, technology brings accuracy. Automated machines perform specific jobs with more seamlessness than human beings. Machines can achieve faster results as well. So, the o......