Whether your business is focused on auditing, apple farming or architecture, it needs to have a digital arm. By now most business leaders accept that “digital” is – or should be – an integral part of the organisation’s approach to its activities.
And while it sounds fancy and forward-thinking, the reality is that very few South African businesses are truly embracing and adopting a digital-first approach to business. There’s no denying that it’s a daunting concept, particularly for those CEOs who cut their managerial and leadership teeth in more analogue environments, but ignoring it certainly won’t make it go away.
As such it is useful to consider digital simply as another area of the business aimed at supporting value creation and operational efficiency, not unlike the production, finance or marketing functions.
A digital strategy cannot simply be a “nice-to-have”. In companies where digital functions add real, measurable value, the digital strategy is seamlessly aligned to the organisation’s strategy at large.
In 2020 CEOs need to focus on elevating the strategic importance of the digital function within their organisations. It’s about using digital systems, tools and agile thinking to improve business performance.
Further considerations in this regard include the following four points:
Understand what you’re in for
An important first step is engaging with the question around what digital means to your company. In contrast to a more uniform function, such as finance, digital is closely related to the output of the company and thus needs to be uniquely structured to meet the needs of individual organisations.
The CEO needs to consult, recruit, read, ask questions, talk, listen and find out. Digital moves fast, it evolves all the time. Today’s cutting-edge is tomorrow’s outdated. Accept and appreciate it for what it is. Then commit to staying informed.
Put somebody in charge
The digitally savvy CEO ensures that digital strategies are present at all levels of the company and that a digital strategy is not an appendix to the overall business strategy but central to it. And while the CEO’s job is to ensure digital integration across all business sectors, they are also smart about recruiting the right person to take charge of the digital arm of the business, as one would with finance, operations, HR, marketing and more.
A chief digital officer is not a position limited to disruptive startups or tech giants. Every company interested in creating value, making profit and ensuring their own longevity are making room for a digital lead who, ideally, is focussed on pursuing innovation and optimising operational efficiencies across the business.
Fall in love with data and analytics
According to research conducted by The Hackett Group, advanced analytics is the most significant digital investment companies can make. At Hoorah we firmly believe that data is the competitive advantage. In fact, we’ve built our business model on the conviction that big data, where it is meaningfully organised, analysed, interrogated and interpreted, is what ultimately allows us to do work that drives measurable results.
Part of the CEO’s role in individual organisations is to understand the metrics that matter most to the business. This is typically the data that aligns to the organisation’s commercial and client goals, and to ensure this data is strategically incorporated to support the company goals and objectives.
Data is a central component of a robust digital strategy. As such, it is of utmost importance to prioritise the mining, storing and analysing and application thereof.
Focus on future proofing the organisation
In 2020 an organisation’s digital capability is central to its ability to evolve with the market, to stay relevant and to keep adding value to customers in an increasingly competitive global market.
As such, the digitally savvy CEO’s task is to always be looking to the future, to anticipate the changing needs, to embrace and welcome the new and the unfamiliar, and to recognise the potential within it.
When business leaders come to associate digital investments with business value, the integration becomes a seamless one. And only when digital enjoys priority in a business will the value, for both the business and the customer, become apparent.
Huawei Mate Xs foldable goes beyond design
The new foldable handset from Huawei ups the game with great performance and improved hinge design, writes ARTHUR GOLDSTUCK
“Falcon Wing Design.” Run those words over your tongue. It sounds cool, it looks cool and it feels cool. And it sums up the high-tech engineering that will make the new foldable handset from Huawei a formidable competitor in this fast-growing segment.
But it is not only design that sets the new Huawei Mate Xs apart. Unlike its predecessor, the Mate X, the device runs on EMUI10.0.1, an operating system based on Android Open Source Project. The software is based on Google’s mobile operating system, but is not affected by the United States government ban on Huawei using American technology. That means the phone operates like an Android 10 phone, but does not run Google Mobile Services (GMS), which includes the Play Store and its automatically updated apps.
Instead, it uses Huawei Mobile Services (HMS), which replaces the likes of Google Assistant with Huawei Assistant, and allows services like Gmail to run on top of a built-in email service. It allows browser-based versions of any Google service, like YouTube, to be accessed via an on-board browser, and includes workarounds for various other commonly used Google apps.
At first sight, one gets the sense that HMS and EMUI10.0.1 will quickly teach users that they are not as heavily dependent on Google apps as they may have imagined. Our first half hour spent on the phone suggested very little commonplace functionality that was not easily available. On a personal level, once Gmail is sorted for me, my apps needs are highly specific, rather than being dictated by an ecosystem – whether HMS or GMS.
But let’s get back to the Falcon Wing design. It was first used on the origjnal Mate X, but the new version, which features more than 100 interlocking parts, is made with a zirconium-based liquid metal, resulting in a hinge that is both more durable and provides a more satisfying 180-degree fold.
The flexible display uses a two-layer polymer structure, manufactured by adhering two layers of aerospace-grade polyimide with an optically clear adhesive. This, says Huawei, allows the display to produce great image quality, colour saturation and brightness while retaining a high degree of durability.
In folded mode, the Mate Xs is a dual-screen smartphone, with a 6.6-inch main screen on the front and a 6.38-inch secondary screen on the back. The secondary screen folds into an edge which serves as a grip when the device unfolds into an 8-inch tablet.
Unfolded, the Xs comes into its own. It offers Multi-screen Collaboration, which Huawei says “breaks down the boundaries between Windows and Android devices”. This means that it allows content to be moved easily between supported devices, and can allow two systems to be controlled from one device.
The phone also provides seamless Multi-window support, allowing two apps to be opened side by side, with a third one “floating” on top, and allowing content to be dragged between the apps – including text, images and documents. The Floating Window can be used to respond to instant messaging, for example, without closing the other apps.
Talking of apps, the Mate Xs debuts a revamped AppGallery, which Huawei intends to develop as a replacement for the Google Play Store. The company would, of course, want to suggest that it is a superior option, but that could take a few years more.
Read more on the next page about the cameras on the Mate Xs, along with the device specs.
Surviving tax season: An accountant’s tech guide
As we approach the February tax-year deadline, Xero SA country manager COLIN TIMMIS offers tech tips for tackling the number-crunching
We’re approaching the end of February, which means it’s officially coming to the end of the tax and financial year. It’s a difficult time for accountants and businesses as admin piles up, and task lists get longer by the day. And to top it all off, it’s summer too.
The good news is that it doesn’t need to be a time drain. Research from Xero found that accountants can save up to 15 hours a week by using cloud accounting. That’s an average of 54 hours per month or 27 days – an entire annual holiday allowance, plus change. When respondents were asked what they would do with this spare time, of those who chose non-work related activities, 30% would spend more time with family, while 22% selected more time at the beach.
Together with Simon Magner, Xero partner and Director of Iridium Business Solutions, we’ve come up with a checklist to help accountants and small businesses prepare for this busy time.
Ensure your bookkeeping is up to date
The first thing you need to do is to make sure that your bookkeeping is accurate and up to date. You don’t want to be scrambling for the information that you need at the last minute – doing the legwork to make sure all the data is ready will pay off in dividends when you come to generating the year-end report.
Check employee data
Remember that your employee data needs to be up to date, and it isn’t up to your employees to sort this out. If it’s not your responsibility to collect this data, warn the relevant people about the year-end in advance. You’ll need to gather all information on payroll and bonuses, while also collecting all receipts for expenses.
Use technology to help you
Admin-heavy work like invoicing, transaction imports, reconciliation, payments – and more – are time-consuming. Even though software can do all these tasks, they’re often done manually by accountants and business owners – which means there is more room for human error. Xero research reflects this too – a quarter of accounting and finance professionals said they could work smarter if they spent fewer hours on administrative tasks.
Having up to date records in real time using cloud accounting software allows you to make better business decisions in terms of your tax position and avoid any costly mistakes.
Don’t let the leap year fool you
Even though 2020 is a leap year, the last working day is the 28th of February – so don’t think you can file your return on the 29th. On that note, don’t leave it until the 28th, either – just in case issues pop up at SARS on the last filing day of the tax year.
Use previous data to guide you
Remember to use past data to inform your current return. Last year’s assessed profit should be used as a starting point to determine the minimum tax you should be paying as a business. And remember, if you made an assessed loss in prior years you could deduct it against the current year’s profits.
When experienced accounting professionals and business owners have to spend time inputting data, processing reports, and scrutinising invoices, they can’t work on strategy, pursue new business or developing client relationships. If accountants want to spend some time away from their desks during tax season, they need to invest in the right processes. It will save them time, energy and costly mistakes.