The cloud is redefining how we live and do business. It is now being recognised as a global economic engine underpinning new innovations, new business models and even entirely new industries. Now data can be created, stored, disseminated and accessed real-time from anywhere in the world that is connected to the internet. This has created a data explosion with 90% of the world's data being created in the last 2 years!
[WHY TIMES FIVE PODCAST] with Sophie Hossack from Receipt Bank - best in class bookkeeping automation technology
WTF had the privilege to meet Sophie Hossack, Country Manager of Receipt Bank. We hear about the humble beginnings of Sophie and the RB team, born from the hatred of life admin and the love of automation technology. Today their technology is now helping bookkeepers, accountants and SMEs save up to 2.5 minute per transaction!
[WHY TIMES FIVE PODCAST] with Will Rogers - CEO of Kent & Lime - Online mens fashion stylist delivering your image in a box.
Welcome to the 1st episode of the Why Times Five Podcast hosted by Skippr Cash Flow. We have Will Rogers on the show to hear how Kent & Lime is taking the online retail market by storm. Any man with fashion sense listen in to hear how you can look good with out the pain of shopping. A truly disruptive business redefining how we can shop for clothing.
"Oh yeah, we're gonna bring in some entry-level graduates, farm some work out to Singapore, that's the usual deal" - Bob Slydell - OfficeSpace (1999)
Not sure if you have watched the comedy cult classic called OfficeSpace, which was set at the turn of the century when technology was disrupting the employability of man-kind. Using dark and awkward comedy we got a taste of what was to come in the 21st century - Automation & Outsourcing!
It is all to common to hear the traditional Australian banks preaching their support for small businesses but falling short on delivery. Why? It is to costly for them lend to a small business. That is why there is a renaissance in small business lending!
A new wave of non-bank alternative finance startups (aka Fintechs) are listening to the cries of the capital constrained businesses and addressing a $60bn funding gap forged by the big banks. Fintechs are capitalising on a fresh canvas and building technology to not only understand risk better but also deliver a better customer experience.
So what are the alternatives available to a small business today?
“Everybody has a plan until they get punched in the face.” - Mike Tyson
Have you ever noticed how your budgeted projections don't look anything like your historical numbers? Projections tend to resemble a calm blue ocean however historical numbers look more like a tumultuous pot of troubled energy. The world is a volatile place, especially for small businesses. Despite this, we have a tendency to create smooth forecasts that rarely reflect reality. This is partly why SMEs frequently get blindsided by cash flow problems.
“Show me the money!!!” - Jerry Maguire
"I have enough money” - said no business ever
A journalist recently told me that if he made a dollar for every pitch he heard on “the next Xero” or “the next disruptive technology that is going to disrupt business forever” he would be a rich man. It’s no secret that business processes are being “disrupted” (excuse the cliché) by technology and capital is pouring into the space at a rapid clip - if you dont believe me just ask your Uber driver where he is investing his money.
Guest content courtesy of Thomas Taylor @ T2 Consulting