Procurement News - Latest Tenders News & Updates

Get latest Procurement news & updates on Bid Detail. Set Alert for Upcoming Global procurement News & New Tender News worldwide. Search International & Global Procurement News & Tender news on Bid Detail.

1.

Bid Ocean & NAPC to Launch $2 Trillion in Digital Currencies

No, the headline above is not a misprint. We really are creating digital currencies with a value of 2 trillion dollars. Read on to find out how, why and what it means for you. Technology is rapidly c ......

  • United States
  • Information Technology
  • 26 Apr 2018
view notice less notice
Description No, the headline above is not a misprint. We really are creating digital currencies with a value of 2 trillion dollars. Read on to find out how, why and what it means for you. Technology is rapidly changing our world. Combined with a growing human population, technology has given us the means to change our world – but also to destroy it. With our unsustainable and inefficient conversion of Earth’s resources into the food, energy, housing, transportation and gadgets that humanity needs, we have facilitated the most rapid extinction of life in our planet’s history. More than half of our planet’s wildlife and forests are already gone, and every major ecosystem is in a state of rapid decline. And perhaps worst of all, we have triggered runaway climate change that imperils all life on Earth. This winter the Arctic experienced a catastrophic and unprecedented warming with more than 61 days above freezing so far and temperatures reaching more than 60°F above normal. This could mean an ice free summer for most of the Arctic for the first time in millions of years, and a huge increase in the already massive outpouring of CO2 and methane which will drive global warming and climate change ever more rapidly. If we continue on the same path, our own mass depopulation is inevitable and our extinction becomes a distinct possibility. But now there is hope. A new technology has made it possible for us as individuals to work together to transition from a path that leads to a bleak future to one that offers survival and sustainability. This new technology is called blockchain, and it is leading a revolution in digital record keeping because it provides a mechanism for anyone with an Internet connection to transfer any asset with unmatched security, efficiency and integrity. One application of blockchain technology is digital currency using cryptography, commonly called cryptocurrency. The first cryptocurrency was Bitcoin, and it has been changing how people think about money and showing us that money doesn’t have to only come from governments and that non-governmental digital currencies can be a valid and widely accepted medium of exchange. While Bitcoin and similar cryptocurrencies have clearly shown that people can indeed create their own independent digital currency and that that currency can be exchanged for a wide range of goods and services and other currencies, most of them are not suitable for wider use by government agencies and most businesses. In the coming months, Bid Ocean, North America Procurement Council (NAPC) and other partners will be launching international digital currencies designed to better meet the needs of government agencies and businesses. The currencies will be used as regional currencies, with the regions defined as North America & the Caribbean, South America, Asia & the Pacific, Europe and Africa. At least ninety percent of the currencies will be given as grants to government agencies, qualified non-profit organizations and technology R&D to help fund specific development projects that support climate-change adaptation and a new climate-proof and sustainable civilization. The rest of the currencies will be made available to early investors and distributed to Bid Ocean/NAPC/Trillions members to seed the business-to-business economic network required to support the development projects. The currencies are being developed in partnership with the International Digital Monetary Council, a new non-profit think tank that will have a core council of 12 leading thinkers who will craft the policy and regulatory framework and standards essential for the success of regional digital currencies. The council will be supported by another 24 advisers with a wide range of expertise. Once the council has developed the standards, they will be made public and submitted to the United Nations as a model for consideration for other regional digital currencies. The standards will continue to evolve as experience is gained with the regional digital currencies and issues arise and are resolved. The new digital currencies will be different from existing cryptocurrencies in several important aspects and will be suitable for use by government agencies and businesses. They will be secure, accountable, taxable, stable and sustainable. Instead of it taking hours to complete a transaction, as it does now with Bitcoin, transactions will be easily completed in seconds through secure apps with transaction records exportable to accounting software supporting digital currencies. The digital coins will also be more secure than credit or debit cards because every user, user device, coin and transaction will be authenticated and secured. Large transactions will have additional security measures. Because transactions will not be anonymous, the currencies will not be useful for money laundering or criminal activity. The currencies are intended to be used as a medium of exchange in centrally managed business networks and are not intended to be used primarily as an investment commodity (as most cryptocurrencies are being used now). Therefore, the value of the regional currencies can be more easily managed.
Industry Information Technology
Source http://www.napc.pro/procurement-news/145291-Bid-Ocean--NAPC-to-Launch-2-Trillion-in-Digital-Currencies.html
2.

Xero Launches Virtual Reality Experience As Part Of Cloud Street Campaign

Xero, online accounting software for small businesses, today unveiled a glimpse into the future of shopping with its Cloud St retail experience at the Xerocon South conference in Brisbane. Powered ......

  • Australia
  • Information Technology
  • 15 Oct 2016
view notice less notice
Description Xero, online accounting software for small businesses, today unveiled a glimpse into the future of shopping with its Cloud St retail experience at the Xerocon South conference in Brisbane.

Powered by Xero, Cloud St is a pop-up store exclusively for online only retailers with a different business popping up each day. Cloud St provides a bricks-and-mortar presence for those that don’t have one — a physical space and the ability to connect to their customers in person.

The pop-up store launched to more than 2000 accountants and bookkeepers from Australia, New Zealand and Asia at Xerocon South with an immersive virtual reality experience. Attendees at the store were given a VR headset to wear and explore a virtual retail storefront for small business innovators bellabox, Homely Creatures and Holy Funk.

They will see a pop-up store featuring products from all three retailers, as well as a virtual chat with bellabox founder Sarah Hamilton, and a makeup artist giving a makeover to a customer.

This is the second phase of Cloud St, with its initial appearance at the 2015 holiday shopping season in Melbourne’s CBD producing big results for small businesses:

Homely Creatures saw website visits up 34 per cent, online sales up 18 per cent, and overall sales doubled

Holy Funk saw a significant boost in website traffic to their website during Cloud St, with traffic remaining higher for the rest of December, and increased on the same corresponding period the previous year. Sales increased 70 per cent from the same period one year earlier.

Revenue generated for beauty subscription leader bellabox through the pop-up store was three times their daily average revenue. Their offline brand activation successfully drove shoppers to their website to transact.

Small businesses that are using Xero are able to enter the competition now via the Cloud St website. The Cloud St pop-up store will tour from Brisbane, where it launches in October and will travel down the east coast where it will finish up in Melbourne and will be supported by an advertising campaign.

Andy Lark, chief marketing and revenue officer at Xero, said: “Technology has changed the retail landscape and Cloud St is great example of the fusion between the offline and online environment. We’re taking it a step further this year and incorporating a VR experience, showing small business customers from Richmond to Redfern a sneak peek into the future of retail.”

Sarah Hamilton, founder of bellabox, said: “Cloud St allowed us the chance to offer a full bellabox experience, by going offline to engage with customers in person. This included offering busy time poor locals the chance for ‘me time’ and discover new products through advice and therapies.”
Industry Information Technology
Source http://www.bandt.com.au/media/xero-launches-virtual-reality-experience-part-cloud-street-campaign
3.

Xero launching new chatbot for Facebook Messenger

Accounting software provider Xero has unveiled a chatbot, codenamed “Hey Hero”, to be available later this year, which it says will have the capability to connect more than 50 million small businesses ......

  • New Zealand
  • Information Technology
  • 15 Oct 2016
view notice less notice
Description Accounting software provider Xero has unveiled a chatbot, codenamed “Hey Hero”, to be available later this year, which it says will have the capability to connect more than 50 million small businesses who use Facebook Messenger every month into the wider Xero ecosystem.
According to Xero, Hey Hero will provide small businesses and their advisors with a completely new way to access the Xero ecosystem and their accounting data quickly, from their platform of choice.

Using Hey Xero, businesses will be able to access the Xero Advisor Directory and be recommended a suitable accountant or bookkeeper in their area.

And, Xero subscribers will also be able to discover new apps in the Xero ecosystem and query their latest financial data, such as who owes them money or when their next bill is due.

{loadpositiion peter}According to Xero chief executive Rod Drury, connecting the more than 50 million small businesses on Facebook Messenger with accountants is a “huge opportunity for our industry”.

“We’re opening up access to accounting software, solutions and advisors to help millions of small businesses be more productive and get the advice they need to grow and create jobs.”

Developed on Amazon Web Services, Hey Xero will enable small businesses to talk to their accounting system without leaving Facebook to better understand their business.

Drury says that for accountants and bookkeepers, it means more and better business leads, less time answering basic questions and more time providing real, high-value business advice.

And, Xero says it is also working to make the tools available to other messaging platforms such as Slack in the future, enabling its subscribers and new customers to access their accounting dashboard from their platform or device of choice.

“By developing this capability, Xero will be able to share the tools, technologies and best practice methods with banks and financial services connected to the small business community to further enhance the global financial web Xero is building,” Xero says.

Hey Xero was announced at Xero’s Xerocon South accounting conference which is just concluding in Brisbane.
Industry Information Technology
Source http://www.itwire.com/accounting-software/74717-xero-launching-new-chatbot-for-facebook-messenger.html
4.

Machine learning, AI at heart of new Xero products

Rod Drury, founder and chief executive of accounting software company Xero, says it’s poised to introduce a number of smart services through machine learning and artificial intelligence. Xero has n ......

  • New Zealand
  • Information Technology
  • 15 Oct 2016
view notice less notice
Description Rod Drury, founder and chief executive of accounting software company Xero, says it’s poised to introduce a number of smart services through machine learning and artificial intelligence.

Xero has now completed the two-year migration of its global platform onto to Amazon Web Services which allows it to use AWS’s additional machine learning and artificial intelligence services to delve into the $1 trillion in transactions Xero handled in the past 12 months.

In his keynote address to Xerocon South in Brisbane today, Drury recounted how the $400 million of investors' capital spent on developing the company’s software development to date has set up a global platform capable of taking advantage of the huge data set it compiles from small business customers.

Xero now has 717,000 paid subscribers globally and Drury said it was well on track to hit its target 1 million by the end of the March 2017 financial year.

Machine learning is already in people’s everyday lives without them really noticing, such as Uber being able to tell travellers how long their trip will take, Drury said.

“We can see machine learning in our personal life and it is our job as software developers to really get this happening in our business lives as well. That’s what our entire team is focused on because we think it is really the next wave and it’s here now,” Drury said.

In one example, machine learning has revealed Xero small business owners, particularly tradies, are terrible at coding invoices for payment once a job is completed. Most simply code a job to sales, the first drop down on the software menu, or to general expenses rather than the right one.

By early next year Xero hopes to be able to eliminate small businesses having to code because the machine learning will let it be done automatically when the daily bank reconciliation arrives. Any mistakes can simply be picked up later by accountants and bookkeepers as they are now under Xero’s time-saving find and recode function.

Drury labels eliminating coding as “one of the biggest changes to ever happen to accounting”, saying it will save small businesses thousands of hours.

Another innovation due for launch next month is a Facebook Messenger chatbox linked to Xero where small business owners will be able to pose questions such as ‘how much money do I have in my bank account?' or ‘who owes me money?' and get instant answers.

Xero is also adding in other features such as recommending firms that can help with bad debts if a company has a problem with late payments of money owed or, if they’re looking for an accountant, the chatbox can recommend firms in their local area that specialise in their industry.

The big data is allowing Xero to offer accountants more insights such as 22 percent of small business customers having multiple banks. It has just added an explorer programme for accountants and bookkeepers which lets them see who their customers are banking with and what industry they are in.

“Who would have thought the accounting software was the abstraction that links it all together,” he said. “We’re not just looking at what one person did, we’re looking at how hundreds of thousands of small businesses work.”

Key to using the smart services to introduce benchmarking for small businesses is being able to tell where they are, what industry they’re in, and seeing all their financial information.

The last leg still to resolve is what industry the firms are in and the new explorer programme allows accountants to input that themselves, which Drury said they’re incentivised to do as it will lift their industry rankings on the online directory and chatbox.

Xero is aiming to differentiate itself from competitors by aligning itself to the “fintech” theme (financial technology) emerging in financial markets. Accounting software sits at the heart of these new payment systems.

It has made a number of announcements at Xerocon on new software iterations, such as Live Contacts, that allows small business and advisers in New Zealand and Australia, and soon the rest of the world, to automatically link into public information on millions of business within the Xero platform and update it when any change is made.

The announcements themselves are relatively small beer, other than to accountants, but they reinforce Xero’s pitch that it is globally leading the charge on accounting technology.

Last year it began describing the global platform as a “financial web” with more than 80 financial firms such as banks and payment providers linked in and more than 500 app providers offering curated services to small businesses to help them grow faster.

Drury said the software-as-a-service company has had to be disciplined about focusing on “beautiful accounting software” but in the near future Xero will also look to add other services itself rather than just through partners as an additional revenue stream.

Xero has put off a planned listing this year in the US where growth has been slower than some other markets and incumbent Intuit remains the market leader. Drury said three things have to happen before it can list in the US: making more than $100 million revenue a year which is has already achieved; the market being right for tech listings which is starting to turn; and convincing US investors that Xero is going to take more than 20 percent market share in the US which is yet to happen.

Drury, ever optimistic, said it's winning on the technical front and partnerships like the one Xero recently signed with the Wells Fargo Bank should help significantly boost growth in the US.

“Go time will be next year,” he said.
Industry Information Technology
Source http://www.scoop.co.nz/stories/BU1609/S00345/machine-learning-ai-at-heart-of-new-xero-products.htm
5.

IODM Unveils New Brand Identity To Differentiate In Crowded Accounting Software Market

Fintech company IODM has unveiled a new brand identity and positioning that aims to cut through the cluttered financial/accounting software market and communicate its core proposition, Rein in Receiva ......

  • Australia
  • Information Technology
  • 15 Oct 2016
view notice less notice
Description Fintech company IODM has unveiled a new brand identity and positioning that aims to cut through the cluttered financial/accounting software market and communicate its core proposition, Rein in Receivables, to small business and their trusted advisors including accountants.

The new brand will be launched at XeroCon, Xero’s annual customer event that draws the largest gathering of accountants around the country.

IODM is a cloud-based software platform that fully automates the process of chasing invoices to get cash off the balance sheet and into the bank account.

IODM interfaces with leading accounting software brands such as Xero, MYOB, Intuit and Reckon, and is targeted at the end-user SME as well as providing a new revenue opportunity for accounting firms.

Created by brand agency, Thread, the brand tagline – Rein in Receivables – features a visual interplay depicting a reindeer head within the logo and use of reindeer imagery throughout the core brand assets.

Damian Arena, managing director at IODM, said: “We wanted to capture both the tech savvy and established practice principals at accounting firms that are seeking new business advisory revenue streams, as well as the SME market which comprise 97 per cent of all Australian businesses.

“Managing cash flow is the no. 1 issue for most small business, that are collectively owed a staggering $26 billion in unpaid invoices at any point in time, and spend 18 million hours each year chasing debtors,” he said. “There’s a huge market opportunity for us to help SMEs improve their velocity to cash flow.”

Arena said the brand identity is designed to stand out in a crowded field, with 4 out of 5 Australian small business owners now running their business in the cloud today* and have so many software options to choose from.

“We wanted a brand that would cut through the noise and differentiate from the myriad of other fintech brands all vying for the attention of SME and their influencers,” he said.

The new brand debuts at XeroCon South in Brisbane this week as part of a phased approach in the development of a brand strategy for IODM. A brand campaign will be implemented in the coming months.
Industry Information Technology
Source http://www.bandt.com.au/marketing/iodm-unveils-new-brand-identity-differentiate-crowded-accounting-software-market
6.

New Website Assists Entrepreneurs in Launching, Streamlining Small Biz Operations

- When it comes to maximizing the performance of a new or small business, efficiency is a key factor in keeping things running smoothly. To accomplish this, many business owners are turning to contrac ......

  • United Kingdom
  • Information Technology
  • 15 Oct 2016
view notice less notice
Description - When it comes to maximizing the performance of a new or small business, efficiency is a key factor in keeping things running smoothly. To accomplish this, many business owners are turning to contractors who are known experts in their field in order to save costs while at the same time ensuring their business goals are being met. The Smart Contractor is one such service, and although relatively new to the contractor accounting scene, the company has quickly established itself as a leader among similar services across the UK.

TSC staff provide a wide range of expert level services including accounting software, bank feeds, invoicing, VAT returns, payroll, tax services, and more. The company also specializes in helping others launch small business through a process that can be completed in only a matter of minutes.

"From the very beginning, our goal with TSC was to offer a suite of services that are aimed specifically for entrepreneurs in the information age, Phil Smith, Owner at TSC says. "Even though we are relatively young, business people are turning to us because of our awesome customer service, wide range of professional services, and genuine passion for growing the economy in the UK."
Industry Information Technology
Source http://www.digitaljournal.com/pr/3063770
7.

Latest EzAccounting Software From Halfpricesoft.com Offers Unlimited Accounts For No Extra Cost

1888PressRelease - ezAccounting 2016 business software has been improved for customers to add unlimited accounts at no additional cost. Test drive the trial for 30 days at www.halfpricesoft.com. Ac ......

  • United States
  • Information Technology
  • 15 Oct 2016
view notice less notice
Description 1888PressRelease - ezAccounting 2016 business software has been improved for customers to add unlimited accounts at no additional cost. Test drive the trial for 30 days at www.halfpricesoft.com.

Accountants that are seeking an easy-to-use and flexible accounting software to handle clients accounts should try out the latest version of ezAccounting software. ezAccounting 2016 business software from halfpricesoft.com has been updated with the ability for customers to add unlimited accounts within the software application at no additional cost. Designed with simplicity in mind, ezAccounting software makes it easy to tracking profits and costs. It also includes payroll and check printing feature by default.

"New EzAccounting 2016 business software does not limit the number of accounts added within the application." said Dr. Ge, the founder of halfpricesoft.com.

The sales team at Halfpricesoft.com has just slashed the cost of ezAccounting 2016 business software by $30 from the originial cost of $149. With the price reduction, new customers can purchase and process end of year payroll for less! This limited time offer will give new customers peace of mind streamlining the business in 2017 when the new version is available.

Potential customers can download and try this software at no cost or no obligation at http://www.halfpricesoft.com/accounting/accounting-software-download.asp

EzAccounting is a new and innovative accounting solution for small businesses to track income and expense, process payroll, print checks, generate reports and print tax forms. The main features include, but are not limited to:

User friendly interface
Track profits and costs

Print invoices, receipts, estimates and more forms

Processes payroll checks for employees
Prints tax forms 941, 940, W2 and W3

Generates multiple reports for sales, orders, payroll and other business reports
Free customer support for software product
Quick start guide available for new customers
Check verification not required

Support unlimited accounts and unlimited checks with one flat rate on the same machine
No obligation download version

Priced at $149, (See special bundle offers with link below) EzAccounting software is affordable and easy to use. Customers seeking a way to simplify business operations are welcome to start the no obligation 30-day test drive today at:
http://www.halfpricesoft.com/accounting/accounting-software.asp
Industry Information Technology
Source https://industrytoday.co.uk/it/latest-ezaccounting-software-from-halfpricesoft-com-offers-unlimited-accounts-for-no-extra-cost
8.

The Latest ezCheckPrinting Business Software Will Migrate Data From Other Software Applications

ezCheckPrinting business check writer offers updates in migrating data from other software applications. Test drive at http://www.halfpricesoft.com. ezCheckprinting business check writer has just b ......

  • United States
  • Information Technology
  • 15 Oct 2016
view notice less notice
Description ezCheckPrinting business check writer offers updates in migrating data from other software applications. Test drive at http://www.halfpricesoft.com.

ezCheckprinting business check writer has just been enhanced with an easy way to migrate data from other software applications. This makes switching to the software even more enticing.Halfpricesoft.com developers accommodate new customers can to now import history data from .csv file and customize check layout. This will ultimately eliminate the need for expensive pre-printed checks.

"Latest version of ezCheckprinting allows for migrating data from other software applications," said Dr. Ge, founder of Halfpricesoft.com.

ezCheckPrinting Windows version works on Vista/7/8/8.1/10 and later systems, 32-bit/64-bit system or MAC machine installed with Virtual Machine or Parallels. EzCheckPrinting Mac version works on MAC OS.

To learn more about this check writer software, visit http://www.halfpricesoft.com/product_ezcheck.asp

Features within the program include, but are not limited to:

Supports unlimited clients
Supports company logo and other customizable design features for a professional, corporate look to company checks

Supports network version from 2-10 users
Reprint checks from the register quickly

Eliminates extended learning curve for those who don't have an accounting or IT background
Supports unlimited accounts
Supports printing unlimited number of checks

Prints MICR characters accepted by most banks (for use with laser printers) — Eliminates high cost pre printed bank checks
Supports both blank check stock and pre-printed checks in check-on-top, check-in-middle, or check-on-bottom formats
Supports signature image on checks to save time signing checks
Supports multiple easy to use report features

Export and import of check data for use with ezTimeSheet, Excel file, QuickBooks, Microsoft Money, and other accounting software
Print recurring checks

The price starts at $39.00 for a single user version of ezCheckprinting business check writer. There are never monthly fees or yearly subscriptions. If the company grows and more applications are needed, the software can be updated to a network version at the cost difference already paid.

Download and test the application for up to 30 days at no cost or obligation by visiting http://www.halfpricesoft.com/product_ezCheck.asp
Industry Information Technology
Source http://www.benzinga.com/pressreleases/16/09/p8429101/the-latest-ezcheckprinting-business-software-will-migrate-data-from-oth
9.

Cloud computing rewriting the business playbook for Australian start-up

This content has been produced in commercial partnership with Telstra. Like many start-ups, naturally sugar-free soft drink company Nexba has made full use of technology to streamline its operation ......

  • Australia
  • Information Technology
  • 15 Oct 2016
view notice less notice
Description This content has been produced in commercial partnership with Telstra.

Like many start-ups, naturally sugar-free soft drink company Nexba has made full use of technology to streamline its operations, accounting, logistics, workflow and communications.

That means you won't find a computer server and its corresponding complexity and management problems anywhere inside the Sydney offices of the six-year-old Nexba, which is poised to tackle the global market with its range of naturally sugar-free drinks.

Nexba, like most start-ups that are able to begin operations with a clean technology sheet, has used cloud-based software, tools and services from the moment founders Troy Douglas and Drew Bilbe decided to take on the soft drink world.

Being born in the cloud like Nexba, gives a technical agility advantage over large organisations that are often locked into ageing, inflexible on-premise software and hardware systems that are hard to fix or renew without disrupting day to day business operations.

Nexba offers a range of soft drinks that avoid the problems associated with calorie-laden sugar drinks and those that use artificial sweeteners.

The company sweetens its drinks with a blend of stevia plant and natural sweetener erythritol, a sugar alcohol that gives 70 per cent of the sweetness of sugar with only 6 per cent of the calories. Erythritol is not metabolised by mouth bacteria, so does not lead to tooth decay and is free of the gas and bloating effects of sugar alcohols commonly used as sweeteners.

The naturally sugar free pitch has paid off with customers. These days, Nexba drinks are sold by national retailer Coles among other distributors and in 2015 Nexba won the Telstra NSW Micro Business of the Year award.

In the race to build market share and take on the incumbent soft drink industry, Mr Douglas says that in the digital world with its mass social media outreach, his business needs to be more than just another product.

"The ability for us to engage technology helps us run a business that is able to challenge what is a multi-national industry," Mr Douglas says.

"All of the operational side of the business is cloud based," says Mr Bilbe. "We wouldn't invest in static software, it is all about that cloud-based stuff."

Nexba uses the Xero online accounting software, Dropbox for cloud storage and file exchange, Geckoboard as the business monitoring and visualisation tool or "dashboard" and the Highrise customer relationship management (CRM) package.

Hardware devices such as mobiles, tablets and laptops are all Apple, while Telstra is the choice for mobile connectivity.

"We are on the road a lot and I travel a bit internationally as well. The ability to be connected on the go and from roaming locations overseas is really important," says Mr Douglas of the decision to go with Telstra for communications bandwidth.

Simplicity and ease of use score heavily with Mr Douglas and Mr Bilbe when it comes to software choices such as Highrise.

"We primarily use Highrise for tasks and contact management.

"When you are in meetings you can take notes which are automatically tracked against that contact," says Mr Douglas.

Having the business in the cloud means Nexba's team of eight people and outside contractors patching into the company are always in sync and looking at the same thing.

Also, being cloud based makes switching software vendors simple.

When Highrise switched owners, the Nexba founders worried they could lose support and kicked the tyres of other CRM vendors.

They found switching CRM providers would not be difficult.

"We found the exporting of tasks and contacts and stuff is so simple when you are cloud based, it would have made switching really easy," says Mr Bilbe.

In the end, Nexba's fears about support worries were unfounded and the firm stayed with Highrise.

"Fortunately for us we didn't have to go down that process but it gave us assurance that being a cloud-based business makes it easy to switch," says Mr Bilbe.

Nexba uses Geckoboard as its business dashboard. The tool draws in information from the other software platforms to give a dynamic read on where key business metrics such as geographic sales are at.

Geckoboard allows the entire team to see at a glance whether critical targets are being met.

With Geckoboard we now have a couple of screens in our office which display key areas like live sales. We have a map that shows how interactivity with our website is tracking and live feeds with social media," says Mr Douglas.

"The engagement we get out of having those screens in our office is a big thing."

The next step for Nexba is expanding offshore next year and having a stable and settled cloud base

"Technology is critical to how we build our internal team and also critical to how we engage external partners for growth," says Mr Douglas.

"So we have become a lot clearer on functions and why we are using certain platforms within the business."
Industry Information Technology
Source http://www.brisbanetimes.com.au/small-business/smallbiz-tech/cloud-computing-rewriting-the-business-playbook-for-australian-startup-20160902-gr76w2.html
10.

Banking on collaboration

The disruptive forces of technology and legislation are forcing banks to become open and collaborative, things which they historically found challenging. A friend who owns a small business recently ......

  • United States
  • Financial Services, Information Technology
  • 15 Oct 2016
view notice less notice
Description The disruptive forces of technology and legislation are forcing banks to become open and collaborative, things which they historically found challenging.

A friend who owns a small business recently went through what I call a “connected and choreographed” experience to get a loan. iWoka, a digital lending company, simply asked him to log on to his PayPal and Xero (accounting software) accounts and connect his bank feeds. This enabled them to quickly establish his credit worthiness and offer a loan. After accepting the loan via email, the money was transferred to his account and Xero automatically reflected the loan in his company’s balance sheet. This all happened in under an hour. Contrast this with a traditional bank’s lengthy and often cumbersome process, which requires a detailed business case upfront that can take weeks to put together.

How was iWoka able to do it? Through so-called application programming interfaces, better known as APIs. Put simply, APIs allow developers to build systems that talk to each other. This results in a connected experience that enables customers to use a range of financial services in new and exciting ways. By building open platforms and embracing collaboration, fintech companies are “bundling up” to compete with banks on more fronts.

Open technology platforms that provide third parties with access to data are becoming common. This leads to increased collaboration between companies that build services on top of each other. Traditional banks, on the other hand, manage a plethora of products that often sit on different platforms that work independently, even within a single company. In other words, their products don’t “talk to each other”, resulting in a fragmented customer experience. Banks also deal with legacy technology tied to lengthy release cycles, which means new features often take months before seeing the light of day and many face the risk of being descoped completely. With so much to fix, banks are struggling to keep up.

And this is only half of the story. Forthcoming regulation (PSD2 and Open Banking) will force banks to open their walled garden for the first time in history, allowing third parties – including competitors – to access their data. This “connectedness” in financial services will soon be the norm whether traditional banks are ready for it or not. As soon as third parties can plug into banks’ data, they will be able to build better customer experiences on top, thereby further weakening the role of traditional banks in our everyday life.

A good parallel example of the power of connected experiences is Uber. The ubiquitous private cab company is powered by Google Maps and Braintree (payment processor) through APIs. Uber launched its own API in 2014, allowing third parties to “pass a destination address to the Uber app, display pickup times, provide fare estimates, access trip history and more”. By not only providing an API but also actively encouraging developers to adopt it, Uber is now able to offer much more than a taxi ride. Today Uber customers can order a cab from the Google Maps app, listen to their own music via Spotify and automatically sync up their receipts to Expensify.

Mobile-centric banks like Monzo (formerly Mondo) are built on the premise of connected collaboration. Already redefining current accounts, Monzo’s strategy is to become a fintech hub and deliver services that go beyond its core product by connecting with other companies. By partnering with companies like TransferWise or Lending Club, it could offer low interest loans and cheap international transfers within its app. This allows them to compete with banks on more fronts whilst providing a superior customer experience.

Connected collaboration changes the game completely. First of all, it allows companies, like Monzo or Uber, to maintain their original focus whilst plugging into others that also deliver outstanding experiences. Second, it means an increased presence, specifically in areas that are contextually relevant for the users (e.g. Uber and Google Maps). Greater presence translates into more opportunities for business. And finally, it allows them to monetise customers’ ecosystems in new and exciting ways; without the effort of designing, building, selling and managing a new product or service.

Banks that embrace open platforms and collaboration through APIs, can connect externally – to other companies – and internally by connecting their products and teams. Some of the bigger banks are already adopting this new connectivity in meaningful ways. BBVA’s API market provides clever products that vendors can integrate to their websites. LHV, Estonia’s largest domestic bank, connected with TransferWise to provide “transparent and easy-to-use international money transfer service”. Capital One now allows its customers to do voice banking via Amazon Echo. Customers can ask Echo’s virtual assistant, Alexa, to check their most recent transactions or pay a credit card bill.

The key challenge for big banks is moving away from a “build it and they will come” mindset into a collaborative model where banks connect parts of their ecosystem with the preferred services that customers are already using. This will require a significant cultural shift. For those that manage it, the potential rewards could be transformational.
Industry Financial Services, Information Technology
Source http://www.bankingtech.com/514792/banking-on-collaboration/

Filter Procurement News

Top