TRENDS IMPACTING MIDSIZE COMPANIES FOR 2020

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Rethink Business Models Innovative operational, business and organizational models will be required to improve competitive advantage and customer experience. Experience-centric models will engage data, automation [RPA] and Artificial Intelligence [AI] to sense what the customer needs; it will then provide timely and the right experience for the customer. To effectively do this, businesses must use the right tools, skillsets and build effective technology partnerships. Go Digital – Digital initiatives IDC predicts that by 2023, 50% of midsize companies will consider digital transactions and communication critical to their business. The right investment in technology and skillsets will improve productivity, efficiency, innovation. It is important to alignRead More →

CYBER SECURITY: RISK ASSESSMENT

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Cyber Security: Risk Assessment, Best Practices  With the evolution of technology, the risk of cyber threat has grown exponentially both in sophistication and complexity. Since cyber attacks impact businesses of all sizes, it is but critical for CEOs, CFOs, and CIOs to stay informed about cyber security and take concerted efforts to deal with the menace. Here is a compilation of best practices to manage the threat from cyber risk. This should help you better manage risks and bolster cyber threat awareness. Security experts can provide insight into current threats and ever-increasing technological and operational challenges. Organisations may need guidance on : Bolster action planRead More →

TRAINING EMPLOYEES FOR BUSINESS SENSE

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Management skills are not inherent; they are acquired through learning and training A recent study conducted by Bersin by Deloitte, a leading provider of human resource research and advisory services, revealed that more than 70 per cent of organisations cite “capability gaps” as one of their top five challenges. Extensive employee training has been suggested as the most effective way to close the skill gaps by a majority of corporates the world over. In fact, research shows that companies which fall into the high-impact category spend significantly more on employee training than others. It is a well-accepted fact that an increased investment in training isRead More →

HABITS FOR SUCCESSFUL CEO

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Winners have certain common habits that go a long way in helping them reach where they are 1) Starting the day early Waking up early is something that almost all successful CEOs do. So much so that the adage goes, “Show me a CEO who wakes up late and you are showing me a mediocre CEO”. Starting the day early gives you the time to plan your day, reflect, read, write, go through your mail, work out and so forth. 2) Exercising and meditating Almost all successful CEOs say they take care of their physical and mental health. It helps them to stay focused andRead More →

THE CFO’S TRANSFORMATION

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In the past, the primary focus of a Chief Financial Officer (CFO) involved ensuring accuracy in relevant reporting, Balance Sheet impacting strategies and Analytics. But since digital transformation has become a matter of great importance to business in recent years, CFOs now have a say in major technology decisions that can directly affect profits. Digital Transformation involves much more than IT. IDC, a global intelligence company, thinks that by 2025, Digital Transformation [DX] spending will be more than double what it was in 2020, reaching $2.8 trillion. Expenditures in digital tools and services will be a major driver of this development. The financial services sectorRead More →

THE POWER OF TRUST IN THE WORKPLACE

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Why trust is important in the workplace? Well, trust is the weapon that can turn the tide in the favor of an organization. Since employees want to feel valued in the workplace, it is possible only in a trusted atmosphere, where they feel motivated, empowered, and encouraged. Both employees and employers have a responsibility to trust each other so they can collectively resolve issues, take up challenges head on, and solve problems. What is trust in the workplace? It is hard to strive in a tough work environment with unreliable, disengaged, and uncommunicative employees. A low-trust workplace is more likely to have such employees thatRead More →

ORGANIZATIONAL RESILIENCE

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Successful organizations have a well-laid-out process and established routines to get things done. The routines may break down in times of uncertainty or when the company is faced with a crisis situation. Organizational resilience is the ability of the company to anticipate and be prepared for challenges ahead of time that makes adaptation to sudden disruptions easier in tough times. Organizational resilience holds the key to survival of an organization in turbulent times. A resilient organization can: Learn and quickly adapt to the changes and still grow in tough times. Create a preparedness plan and adapt them in times of need. Manage a burst ofRead More →

IT BUDGET SPENDING IN 2023

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Diverse at work is a term that refers to a workforce comprising individuals of different races, gender, religion, region, ethnicity, and demographics. People are the powerhouse of a business, and diversity is key to its success. Diversity in the workplace affects your work environment and reputation. Diverse organizations are known to be more adaptable to changes and set themselves as competitive industry leaders. Measuring the unique demographics of the company helps you tracking your growth and success. It also helps understand any inclusion gaps in the workforce. Why Diversity Matters Having a diverse workforce that includes employees from different ethnic and lingual backgrounds can helpRead More →

IT BUDGET SPENDING IN 2023

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Now that 2022 is bidding us good-bye, it is the right time to plan for next year’s budget and goals. With your eyes set on 2023, planning should help, especially with the many sectors bearing the brunt of inflation, recession, and interest rate hikes. The need of the hour is to be extra cautious about where to spend money in the next calendar year. Of course, when you want to get the best value from investment, it would help to allocate funds to the right technology. Where To Spend Your IT Budget in 2023 CloudCloud-based technologies will continue to grab a major share of theRead More →

BENEFITS OF SAP BUSINESS ONE FOR BUSINESSES

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The Rise of SAP Business One: From Concept to Action SAP Business One is a business management solution that is designed to meet all the needs of small and medium-sized enterprises (SMEs). This article will delve into the concept, evolution, and significant benefits of SAP Business One, highlighting its crucial role in streamlining operations and empowering businesses of all sizes. Understanding SAP Business One SAP Business One can be defined as an integrated enterprise resource planning (ERP) software that combines various functionalities to streamline core business processes. SAP Business One offers a suite of tools aimed at enhancing financial management, inventory management, sales, and customerRead More →