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Finance
  • December 6 2019 Five smart ways to keep your corporate travel budget down

    According to Roy Morgan, there are currently 2.1 million business travellers in Australia alone. For a country that is home to one of the world’s busiest flight routes (Melbourne – Sydney), this won’t come as a surprise to many, but as corporate travel continues to grow domestically, the bottom line impact on business expenses is being Read More…

  • December 5 2019 Payroll expert reveals the 7 red flags for payroll fraud

    Although it’s near impossible to accurately quantify, payroll fraud – defined as the theft of cash from a business via the payroll processing system – is less rare than many of us might think. This is because incidents of payroll fraud are often not reported in the media and are managed instead by internal HR Read More…

  • December 2 2019 Report: 4 in 5 organisations are using 20 year old payroll tech

    New data has revealed that 83 per cent of organisations are using payroll technology developed 20 years ago or more. The findings come at a time when a wage underpayment epidemic is sweeping across some of Australia’s biggest companies… The data comes from the 2019 Payroll Benchmarking Report, an annual study by the Australian Payroll Read More…

  • November 28 2019 Don’t accept late payments, just because you’re a small business

    Any small business owner will know the struggle of time – being short on time, and not getting paid on time. It’s often easy to forget the importance of back office functions, particularly invoicing and debt collection processes. Luckily, if you take the time to streamline these processes, the amount of time wasted chasing late Read More…

  • November 25 2019 Why the payments industry needs to champion workforce diversity

    It’s an undeniable fact that the financial services industry is currently undergoing massive changes. While a stable global payment ecosystem is more critical than ever, the advent of neobanks and open banking are challenging industry norms and ushering in a new era of disruption. For decades, the incumbent financial institutions and payment solution providers dominated Read More…

  • November 22 2019 The underrated benefits of the new e-invoicing hype

    Recently we covered the news that federal government departments will start paying e-invoices to businesses within five days. This applies only to contracts valued up to $1 million. If departments do not adhere to this new rule, they will face interest charges on any late payments – as long as both the supplier and agency use Read More…

  • November 13 2019 Use director loans with caution, urges insolvency specialist

    Jirsch Sutherland, national insolvency and business recovery firm, has warned company owners and directors to understand the risk of using debit loan accounts. This comes after noticing an increase in bankruptcies as a direct result of director loans.  “Used wisely, director loans can be useful,” said Stewart Free, Jirsch Sutherland Partner. “However, there are some circumstances where Read More…

  • November 5 2019 Seven Aussie businesses among the world’s leading fintechs

    Seven Australian fintechs have been included in KPMG’s and H2 Ventures’s annual list of the world’s leading fintechs, selected alongside the world’s leading players, announced today by Fintech Innovators.  Cross-border payment provider Airwallex is the highest ranked Australian firm at #32 on the Top 50 Established firms, having risen from #49 in 2018. It’s followed Read More…

  • November 5 2019 RBA expected to hold, but for how long?

    With predictions of a November rate cut having all-but evaporated, the question now seems to be when the Reserve Bank might resume its cash rate reductions. The Reserve Bank is widely expected by economists to leave the cash rate unchanged at Tuesday’s monthly board meeting but yet more gloomy economic data has reinforced an impression Read More…

  • October 31 2019 The solution to small business late payments (Part 2)

    In Part 1 of Small Business Late Payment Solutions, we talked about how late payments are costing small businesses and that everyone – big business, small business, bookkeepers, accountants, advisors and small business advocates – all need to do their part to fix this issue. The discussion touched on the importance of technology and credit Read More…

  • October 21 2019 Businesses still need to negotiate loan terms if they want to benefit from favourable borrowing conditions

    A revitalised property market and record-low interest rates mean businesses should be able to find affordable financing, but only if they negotiate effectively with lenders, a Melbourne lawyer has said. Rigby Cooke Special Counsel Daryl Lim said since most loan agreements are generally heavily one-sided in favour of a lender, it is extremely important when Read More…

  • October 10 2019 The solution to small business late payments (Part 1)

    Noel Tiufino (Managing Partner) and Raj Saini (Partner) from MyAccounts and Angus Capel (Small Business Advocate) from Xero, recently spoke to Creditorwatch about late payments and what small businesses can do about them. In the Dynamic Business interview with Trent Innes at Xerocon (September 2019), we revealed just how much small businesses are affected by late Read More…

  • October 8 2019 “Non-property owners appear to be at a distinct disadvantage in small business”: Research from ebroker

    ebroker.com.au, the fintech matching platform that works with over 70 non-bank lenders, has released a series of statistics revealing insights into Australian small business lending habits. The insights are taken from a sample of just over 10,000 unique businesses using ebroker.com.au over the last 12 months, through to the end of June 2019. Urgent loans Read More…

  • October 4 2019 Lessons from the Thomas Cook collapse: how to tell if a company is in trouble

    Thomas Cook, one of the world’s largest and oldest travel companies, recently went out of business due, at least in part, to unserviceable debt levels. (1) While carrying debt is a standard business practice and a legitimate cash flow management technique, businesses should keep a close eye on how much debt is too much, and Read More…

  • September 30 2019 Significant decline in SMEs naming accountants as their most trusted advisor

    Accountants are losing ground when it comes to SMEs nominating their most trusted business advisor, according to a national survey of more than 1000 Australian businesses. The September 2019 SME Growth Index found that only one in 20 business owners named their accountant as their most trusted business advisor. In 2017 when the question was Read More…