Business, Management, Marketing, Money, Tax, Law, People

A useful Guide for Investing in Digital Transformation

Everyone is interested in investing in digital transformation solutions. Leaders want to take their products and services online to provide a frictionless digital customer experience with the added benefit of improving their bottom line.This is the frontier of value creation for businesses, and it is much more than automating current processes behind the guise of digital transformation. The opportunities for digital transformation continue to expand as ground-breaking innovations like cloud technology and artificial intelligence create new options.In this guide, we explore the common misconceptions about digital transformation solutions, review the common pitfalls encountered when choosing a solution, define digital transformation strategy, and explain how to create a digital transformation roadmap.

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How to Use a Customer Journey Map to Measure Success

Does your organization actively measure and report on your customer experience (CX)? Or is your customer experience a vague catchphrase, like “This initiative is critical to the customer experience” or “We are a customer-driven organization?” No one can argue the validity of statements like that. But if you’re like many organizations, you rarely have the necessary tools to accurately analyze the customer journey to back up those customer experience statements with actual data. Historically, customer satisfaction (CSat) and net promoter scores (NPS) are the responsibility of the analytics team, measured every six months. So, how do teams typically collect information on the customer experience? The secret lies in purpose-driven CX with an actionable assessment tool. In this guide, we explore the need for a CX assessment tool, explain how to create a customer journey map, and explain how to measure points along the customer journey.

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Getting Access to the Fast Track for Career Equity

The Research The author conducted the research underlying this article while co-leading Mercer’s Workforce Sciences Institute.i The author analyzed the results of his research team's statistical analyses of three to five years of employee data for 20 large and midsize, mostly global, employers representing manufacturing and services companies in a range of industries, including consumer and industrial products, pharmaceuticals, technology, financial services, and professional services. Collectively, these companies employed over…

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Are you a Scottish taxpayer? Then you should read this

If you spend time in Scotland, it’s useful to check whether you’re there enough to become a Scottish tax resident. And if you’re already a Scottish tax resident you might also need to be aware of the implications on your wealth. Peter Webb, our Head of Tax Advisory, takes a look at some of the nuances of the Scottish tax system. By Peter Webb - Head of Tax Advisory Scotland…

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7 amazing investment tips from the “Oracle of Omaha”

An “oracle” is traditionally somebody who offers advice or delivers a prophecy, often thought to come from divine origins. Stories of legendary oracles like Pythia, who delivered prophecies from the Greek god Apollo, tell of people travelling from far and wide to hear her wisdom. It is perhaps quite fitting then, that Warren Buffett is nicknamed the “Oracle of Omaha”. Many investors closely follow the world-famous businessman hoping to learn…

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UK Purchase of residential property

A prospective purchaser of property in the UK will ask what taxes they will encounter. One of the taxes is Stamp Duty Land Tax or shortly known as “SDLT” . You must pay SDLT if you buy a property or land over a certain price in England and Northern Ireland. The tax is different if the property or land is in Scotland or Wales. In July 2020 the UK government…

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Logistics Disruptors Latin America – Fostering trust in e-commerce

Latin America was once considered an e-commerce laggard, full of consumers who were reluctant to buy online. No longer. The region now has one of the fastest-growing e-commerce sectors in the world. The start-up Melonn (founded in Colombia in 2020 by six friends) aims to capitalize on Latin America’s booming cadre of small and medium-size B2C e-commerce companies. But one of the challenges Melonn faces is a deficit of trust:…

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US Strategic Plan 2023: A look into the future of AI

The Select Committee on Artificial Intelligence (“AI”) of the National Science and Technology Council have recently released their latest update to the US Government’s National AI Research and Development (“R&D”) Strategic Plan (the “Plan”). Updated to account for the substantial developments in technology, the Plan sets out a comprehensive blueprint to ensure the US remains at the forefront of the AI industry.   The Plan sets out several strategies that not only…

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Taking Stock and Understanding Consumer Motivations

Consumer engagement is critical for any consumer products company today. Understanding your consumers, their motivations, and their connection to your product is what drives success, and it needs to be a cross-functional effort. In our last episode of Taking Stock, we dove into the concept of consumer engagement – what it is, how it’s evolved over the past years, and what to consider when building an effective consumer engagement strategy.…

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Considerations for Cash Management Policies

Stock issued by a corporation is treated as qualified small business stock (QSBS) only if, among other requirements, at least 80% of its assets (by value) are used by the issuing corporation in the active conduct of one or more “qualified trades or businesses” (the active business requirement) during substantially all of the applicable investor’s holding period for such stock. This requirement has become particularly relevant to many startup and…

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Competition and Markets Authority responds to the UK Government’s AI White Paper

On 1 June, the UK’s Competition and Markets Authority (“CMA”) issued their response (“Response”) to the UK Government’s (“Government”) AI White Paper (“Paper”) consultation, detailing their considerations on the proposed framework the UK seeks to implement in the regulation of artificial intelligence (“AI”). The CMA’s response is the latest contribution from UK regulators, following the Information Commissioner’s Office own response to the Paper in April 2023. The Response is the…

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What is social media?

A energetic and tightly grouped collection of social media reaction icons including hearts, thumbs up, happy and surprised faces along with comment and texting bubbles and hashtags. You probably already know what social media is. Whether you cringe at the memory of your Myspace page from the early 2000s, keep in touch with your aunt on Facebook, or are regularly unsettled by too-relevant ads on Instagram, few of us are…

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Overseas investors thinking of investing in UK real estate

CAN ANYONE INVEST IN UK REAL ESTATE EVEN WITHOUT A UK PASSPORT? Yes.  Foreign individuals (over the age of 18) and corporate entities (subject to being registered at Companies House) may purchase or invest in UK real estate. WHAT TYPES OF INVESTMENTS CAN BE MADE? There are many ways to invest in UK real estate. Some of the more conventional routes in England and Wales include: Ownership of a legal…

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New York Minimum Wage: Increase for 2024 and Beyond

On May 3, 2023, New York Gov. Kathy Hochul signed legislation into law increasing New York’s minimum wage for most employees beginning January 1, 2024, through 2026. Enacted as part of the state’s budget legislation, increases to the minimum wage beginning in 2027 and beyond will be indexed to the consumer price index. Below, we’ve outlined what employers should know about this development. Minimum wage increases, 2024 – 2026 The…

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Dr. Heidi Gardner: 6 tips for smarter corporate collaboration

You’ve likely heard collaboration categorized as a “soft skill.” Distinguished Harvard Fellow and award-winning author, Dr. Heidi Gardner, says that’s not true. Dr. Gardner was in Toronto for BLG’s smarter collaboration session, sharing the stage with Patrice Walch-Watson, senior managing director, general counsel and corporate secretary for Canadian Pension Plan Investments; Sandra Perri, senior vice president and general counsel at Sun Life Canada; and Graham Ross, BLG’S chief client officer.…

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Case Study – A Family Investment Company can be a Benefit

Mr Smith has been a client of Dixcart’s for many years and he wants to explore the options available to provide financial help to his children, as they get older and start their careers. The children are all in their teens, with the eldest just about to start university. Mr Smith wants to ensure that they make considered future decisions financially and do not take the opportunity to have a…

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AI is the new nuclear bomb, so, proceed with caution

The current AI revolution is often compared to the industrial revolution, but a more fitting comparison is to the creation of the nuclear bomb, as the Centre for AI Safety recently highlighted: “Mitigating the risk of extinction from AI should be a global priority alongside other societal-scale risks such as pandemics and nuclear war”. While nuclear fission’s immense power was feared by its inventors (and rightly so) it is now humanity’s strongest hope for reducing…

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3 Ways to Build Customer Loyalty with Conversational Marketing

For many years, brands talked at their customers instead of with them. Marketers told customers what they wanted, rather than asking them what they needed. Advertisers addressed everyone with a single campaign. Thanks to conversational marketing — connecting with customers through personalized, two-way conversations in real time — these “one size fits all” tactics are becoming a thing of the past. Over the past two years, 68% of customers have…

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Delta’s largest-ever trans-Atlantic schedule takes flight

Customers traveling on Delta can take advantage of more than 650 weekly flights across the pond in peak summer, a remarkable 30% increase in the airline's seat capacity compared to 2022. Delta's largest trans-Atlantic schedule ever is officially in full operation, and customers are flocking to idyllic locations like the golden beaches of France's enchanting Cote d'Azur, sun-soaked Mediterranean islands and other vibrant cities brimming with history. Customers traveling on…

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Ask the expert – What is estate planning?

As you accumulate wealth, it is important to consider what would happen to your estate in the event of your death. An estate is defined as everything a person owns when they die, and this can include property, investments, money, and personal possessions. The time to consider your estate isn’t just when retirement is approaching, it is at any age where you have accumulated wealth or possessions. If you are…

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Samsung Launches Filter To Protect Oceans From Laundry Plastics

Samsung Electronics today announced the launch of the new Less Microfiber Filter, an external washing machine filter designed to significantly reduce plastic microfiber emissions during laundry cycles. Designed with inspiration from apparel maker Patagonia and expertise from the global ocean conservation organization Ocean Wise, the filter builds on the success of last year’s Less Microfiber Cycle to substantially cut microplastics and enable sustainable laundry washing that is both effective and effortless.…

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Expanding Meta Verified to India – Legacy Verified Badges Globally

We’re expanding our test of Meta Verified to India after seeing good results from our early testing in several countries globally. We’ll also continue honouring verified badges that were granted previously based on existing criteria.  To help up-and-coming creators grow their presence more quickly on our apps, in February we announced that we’ll begin testing a new offering called Meta Verified. It is a subscription bundle on Instagram and Facebook…

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Learning About Data Is Easier Than You Think

There is arguably nothing more valuable to your company, and central to its success,  than data. According to a 2023 survey, 88% of business leaders are increasing investments in data and artificial intelligence (AI). But only 39% of companies make data training available to all employees. We can help you change that. Learning about data isn’t as hard as you might think. Here, we’ll share some of our best data…

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Empower Your Team and Empower Yourself

In today’s rapidly evolving work environment, professional development is no longer a nice-to-have perk, it’s an imperative. With budget tightening and workforce disruptions such as layoffs affecting many sectors, now is not the time for organizations to eliminate employee professional development and training. Likewise, individuals should continue to upskill regardless of whether organizational resources are plentiful. In this article, we explore ways that executives may approach learning and development (L&D)…

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Customizing solutions with low code – a new strategy for ‘buy or build’?

Generally speaking, when a company needs a new system or solution, they usually have to choose between an off-the-shelf solution (COTS) or building something themselves. And there are pros and cons to both. Out-of-the-box will probably offer most of the functionality you need, but if you need anything tweaked, you are totally dependent on the supplier – and this will cost you. The beauty of custom-built is that you can…

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Navigate the Impact of Inflation – The Retail Industry

Inflation has presented a serious issue for retailers throughout the last year. Increased costs may mean lower profit margins if in-store prices are not raised, but raising prices could push loyal customers away. Sustained high prices are also squeezing shoppers’ wallets as household expenditures rise and customers must prioritize “essential” items like food or gas rather than that new outfit or pair of shoes. This is a dilemma that will…

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USA – Deposits, Deposits, Where r u?

On May 31, the Federal Deposit Insurance Corporation (FDIC) reported to the public what many banks already knew and had been experiencing for the past year – that deposits are declining in the American banking sector. There has almost been $1.2 Trillion removed from the banking system over the past year. In addition, the recent banking stress, which resulted in several large bank failures, has amplified the outflow of deposits…

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Why a Fast-Moving Labor Force Doesn’t Always Indicate a Healthy Job Market

Studies of developed economies have suggested that rapid job turnover is linked with economic growth, perhaps because workers are more efficiently re-allocating their labor to where it will be most productive. But for a new study, Yale SOM’s Kevin Donovan and his co-authors took a broader view, incorporating data from 49 countries, including developing economies. They found that high labor flows are actually negatively correlated with GDP per capita.  …

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What? Not a Mindreader — But a Great Buyer Persona

She fit our buyer persona to a tee — or so it seemed. She was an HR leader with a $100k problem: trying to grow and keep her people. I was a partner at Dale Carnegie with a training program that had the answer. But five minutes into our first call, I knew it was a bust. She wanted a lunch-and-learn when what she needed was a development program. She…

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Electric kickscooters come to age – Regulators noticed

Once considered toys, shared electric kickscooters (e-kickscooters) have grown up. Expanding in number from virtually nothing in 2017 to a peak of 350 million trips among global leading players in 2022, shared e-kickscooters have caught the attention of regulators worldwide. To better understand how guidance may evolve, we identified and examined the regulatory archetypes of the top 100 cities worldwide. Regulatory review of the top 100 global cities Five years…

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What is nearshore software development

Nearshore software development is the outsourcing of business processes to specific companies located near your country. Nearshoring companies are located in countries with similar time zones, so they can move their operations to a cost-effective location where the time difference between the two companies should not exceed 1 to 3 hours. Thanks to the proximity and fewer cultural and time differences, communication reaches a higher level in nearshoring. This type…

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Best Practices for Your Business Success with Marketing Automation

Marketing automation is the use of technology to automatically handle marketing operations and multifaceted campaigns across several channels. To boost income and maximize productivity, marketing and sales teams employ marketing automation to automate online marketing campaigns and sales activities. Employees are freed to work on higher-order issues when repetitive jobs are properly handled by automation and human error is decreased. Marketing automation allows marketers to offer real-time, targeted, data-driven campaigns…

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Five Year non-competition covenant in Canada: Reasonable

Non-competition covenants are regularly included in commercial agreements related to the purchase of a business and are critical in ensuring that the vendor of a business does not compete following the sale. However, even in commercial agreements, to be enforceable, non-competition covenants must be reasonable in geographic scope, length of time and the scope of the activity prohibited. Recently, in Ruel v Rebonne, 2023 ABCA 156 (CanLII), the Court of…

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Canada – New OPC guidance Privacy in the workplace

On May 29, 2023, the Office of the Privacy Commissioner of Canada (OPC) released new guidance on employee privacy rights in the workplace (the Guidance). The Guidance considers the balance between respecting employee workplace privacy while also recognizing that, under certain circumstances, employers may have a legitimate need to monitor and manage their employees. Overview While employers may need to collect certain information about their employees, employees will still have…

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Monthly digest by Ayming Consulting

Can the Cloud Accelerate the Transition to Lower Carbon Industries? In today’s ever-evolving landscape, technological advancements play a pivotal role in propelling innovation and shaping industries. One area that holds immense potential is the cloud computing ecosystem and its capacity to expedite the transition to lower carbon industries. The cloud offers numerous benefits for industries striving to reduce their carbon footprint. By leveraging cloud infrastructure and services, businesses can optimise…

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Why companies need a Corporate Philanthropy Strategy

Corporate philanthropy spending reached new heights in 2021, exceeding $21 billion in the U.S. alone and marking a 24% increase over the previous year. These contributions, which traditionally focused on supporting galleries, museums, and shiny new buildings, have gained a higher profile in corporate decision-making. While management scholars have long pointed out the importance of corporate philanthropy, businesses’ approaches to it vary widely, and few have fully integrated it into…

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Cyprus: Additional annual leave days for employees with children

Paternity leave Paternity leave remains at two weeks and may be taken within the period from the week of the birth or adoption and up to two weeks after the end of the maternity leave period. The paternity leave can also be claimed in the case of a stillborn child. If the mother passes away before or during childbirth or even during maternity, then any remaining maternity leave not claimed…

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How Generative AI can Help Marketers Connect With Customers

Generative AI has raised considerable buzz lately, but with this hype comes a lot of misconceptions and confusion on how it can help marketers. With customer expectations rising and personalization now an expectation, marketers can use generative AI to help maintain customer loyalty and gain insights in a post-cookie world. We’ve already seen how AI can help marketers, commerce teams, salespeople, and more make informed decisions. This merely scratches the…

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Business ready for relentless and exhausting period of change

Already stretched HR, ER, WHS and Legal teams are about to confront a (seemingly) never-ending stream of law changes that will require cross-team collaboration to operationalise. At a time when there are already broader economic and market challenges for businesses, leading employers will need to have sufficient resourcing and planning to confront the changes we know are coming. To take some simple examples: 1 April 2023 – Commonwealth and Queensland…

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Is Generative AI the future of HR?

Generative AI: It’s powerful. It’s accessible. And it’s poised to change the way we work. On this episode of the McKinsey Talks Talent podcast, talent leaders Bryan Hancock and Bill Schaninger talk with McKinsey Technology Council chair Lareina Yee and global editorial director Lucia Rahilly about the promise and pitfalls of using gen AI in HR—from recruiting to performance management to chatbot-enabled professional growth. An edited version of their discussion…

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