Welcome to the halkin blog.
Your source for weekly stories and advice on local business, the economy in general and what’s happening in Sydney this weekend.
Thriving in the Shadow of Giants: How Startups and SMBs Can Compete Against Larger Companies
In the business world, startups and small-to-medium-sized businesses (SMBs) often find themselves in David-and-Goliath situations, contending against larger companies with far bigger budgets. While it may seem like an insurmountable challenge, numerous strategies can help these smaller entities carve out their niche, attract loyal customers, and grow sustainably.
The Importance of an Efficient AP Automation System
Technology is increasingly playing a part in how business is run. For SMEs, the use of cloud-based platforms and apps enabled affordable and agile improvements. Integrated platforms can automate processes and eliminate errors in manual and paper-based tasks.
Whether you’ve already decided on your automation system, or need help to define what are the next steps, the halkin technology team is ready to take your business to the next level.
Key Considerations When Choosing a New Inventory Management System (IMS)
For product-based companies, inventory management is a vital component to the business' health, competitiveness, and growth. However, nearly 50% of small and medium enterprises (SMEs) either don’t track inventory or use a manual method of doing so.
Growing SMEs must appreciate the benefits of a robust inventory management system (IMS), and might consider a system migration to a platform that can sustain and propel business growth.
What Is Cloud Computing?
Should I or Shouldn’t I?
That is the question plagued by small to medium sized business’s who when starting out didn’t have the time nor see faith in putting their data in the cloud.
Fast forward a few years and that’s all everyone talks about when it comes to collaboration and making your life easier tech wise. Now sure the idea of putting your valuable information somewhere in the digital sky is somewhat daunting but in today you are prompted at every step and turn with 2FA (which is a nice way of security at the club making sure you are in fact who you say you are) and secure passwords to make sure your data is safe up there. Much more safe than that non patched desktop server that your local IT guy installed 3 years ago and “monitors weekly”.
Business Process Mapping: The Key to Streamlining Your Business
What is process mapping?
Process mapping is an exercise to capture the key steps and deliverables of a company or area. The primary outcomes of a process mapping project must be visual and clear, so they can be easily understood by the business and used to spot improvement opportunities.
Why You Need To Know Your Director ID
If you’re a company director, are you aware you need a new Director ID as of November 2021? If you haven’t verified your identity and secured your ID number yet, here’s what you need to know.
What is a Director ID?
The new director identification number (director ID) is a 15-digit ID number unique to each individual, intended to combat fraud and false identity issues. The director ID applies for directors of all companies, including registered foreign companies and Aboriginal and Torres Strait Islander corporations. Once your director ID has been assigned, it will never change. This ID number will stay the same, even if you move, change companies, or cease to work as a company director.
What You Could (and Should) Automate in Your Business, and Why
It’s no secret that businesses must operate with a lean structure to be efficient, stay competitive, and enhance profitability. Additionally, in recent times the pandemic forced business owners into multitasking and being more creative to deal with the daily challenges of managing the company’s operations.
3 Common Problems Affecting Product-based Businesses
Effective inventory management requires reducing errors that frequently occur. These errors involving inventory can impact the business significantly. On average, inventory represents approximately 15% of total firm assets. Add the high inventory carrying costs (which can be over 40% of a company's average inventory investment), and it's clear why maintaining inventory consistency is amongst companies' top priorities.
Three Ways the Right Dashboard can Help Your Business
A business intelligence dashboard is an information management tool that uses data visualisation technology to analyse and display information visually in a practical and valuable way. BI dashboards can access data from multiple sources, analyse and display it via browser or mobile applications instead of manually compiling spreadsheets. The rapid analysis of a dashboard gives business owners transparency and, ideally, the opportunity to make immediate adjustments.
Why an Inventory Management System is a Business Asset
Well-managed inventory is one of the most critical assets a goods-based business can have, but it can be tricky to keep this area of your business running smoothly. If you’re involved with both physical brick-and-mortar stores as well as e-commerce, then having accurate inventory is even more crucial to your success.
5 Ways to Boost Business Value with Automation
Automation doesn’t have to be intimidating. If you’re looking to take your business to the next level, systems automation (which often goes hand-in-hand with cloud computing) can get you there. Here are five key ways that shifting to an automated model can boost your business:
