Key points: The festive season can disrupt business finances due to increased spending and shutdowns. Cut non-essential expenses, avoid long-term contracts, and diversify suppliers. Engage with banks early, build cash reserves, and maintain strong customer relationships. The festive season, often a period of increased personal spending and celebration, can also pose significant cash flow challenges […]
Key findings: A data lake serves as a central repository for comprehensive productivity insights. Data lakes support various data types, efficiently stores unstructured data and uses object storage for easy retrieval. Decision making is improved by uncovering patterns, improving decisions and enhancing productivity. Your business might already be collecting data but without a central resource […]
Key points: The Australian health and wellness industry is booming, with a 7.1% growth expected over the next eight years. Middle market businesses can tap into this growth by updating strategies, investing in R&D, going digital, forming partnerships, and embracing sustainability. Success hinges on agility, proactive leadership, and a knack for innovation and collaboration. The […]
Key points: Having a reliable Number Two allows you to focus on strategic goals and explore new opportunities Empower your Number Two by giving them decision-making power and recognising their contributions Supporting your second in command can help maintain company culture in times of transition As a middle market business owner, you have a lot […]
Key points Mature businesses must regularly review performance and adapt to stay relevant and competitive. Leveraging AI and automation helps reduce costs and defend against disruptive market entrants. Succession planning and strategic restructuring are essential for long-term sustainability and growth. In this third article in our series on the four stages of the business cycle […]
Spring is a season of renewal, growth, and optimism. Traditionally it’s time to air out the house, take stock of how the year is going and see what needs to still be achieved. It’s also a great time to take a look at your business and see how healthy it is. But what exactly is […]
When Generative AI burst on the scene with the release of ChatGPT in November 2022, the barriers to adoption for law firms seemed to outweigh the benefits. There were questions around data leakage, some high-profile examples of ‘hallucination’ (the fictitious creation of legal precedents), and concerns that adopting AI could introduce errors into legal documents. […]
Delivering Value for Money (VFM) in infrastructure and major projects is crucial for achieving the best outcomes at optimal costs. This encompasses financial efficiency, but also the quality, timeliness and the overall impact of the project. In Australia, infrastructure projects play a pivotal role in the national economy and face distinct challenges. But how can […]
Infrastructure and major projects are essential for the economic and social development of any country. According to the 2023 Infrastructure Australia report, for every $1 billion invested in infrastructure, Australia sees an estimated $3 billion boost to the economy. These projects create jobs, stimulate local economies and enhance overall productivity. They provide the backbone for […]
Key findings: AI has the potential to boost productivity, but the actual benefits have not fully materialised Like an employee, AI needs trust-building, clear expectations and small projects to demonstrate benefits Accurate and transparent data is crucial for AI performance – poor data inputs can lead to high ‘hallucination’ rates Artificial intelligence (AI) has been […]
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