Friday, July 1, 2022

Half of Aussie businesses have seen a rise in data threats in the past...

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Half of Australian businesses have seen an increase in internal threats or data leaks in the last 12 months, according to new research by email security and cyber resilience firm Mimecast. Coinciding with the National Privacy Awareness Week, (2–8 May), Mimecast revealed that 47% of Aussie firms are concerned about the risk naïve employees pose to their businesses.

FWX shows drop in gender equality but improvement in superannuation

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Progress to gender financial equality reversed in the March quarter despite a significant win in superannuation savings for women which saw the gender gap narrowing by the most in over a decade, according to the latest Financy Women’s Index (FWX). The FWX is a quarterly index of the economic progress of women and timeframes to gender equality in Australia.

Consumers are increasing their digital activity despite rising fraud concerns

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Digital financial transactions have become commonplace in recent years, growing a number of savvy consumers with a heightened awareness of fraud and the role security tools play in protecting them. Insights from Experian’s annual Global Identity & Fraud Report found that over half of consumers surveyed globally have been a victim of fraud or know someone who has – where identity theft has surpassed credit card theft as their biggest security worry.

Research shows surge in household finances despite economic stagnation

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Despite a sudden increase in unemployment across many countries at the start of the COVID-19 pandemic, personal equity has proven to significantly grow across many OECD countries throughout 2020, according to new research by Compare the Market. Of the 20 countries studied, South Korea recorded the greatest positive change in household net wealth last year despite the onset effects of COVID-19. The nation saw a 19% increase, jumping from US$46,810.10 per capita in 2019 to US$55,675.78 per capita in 2020.

Supply chain issues leave customers frustrated; brand loyalty at risk

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Supply chain issues continue to impact Australians, affecting both their mood and shopping behaviour, according to new research by Toluna, a leading consumer intelligence platform. The research, which surveyed 1031 Australians between 4-9 February 2022, showed that many shoppers are happy to switch brands when their preferred brand isn’t available, leaving long-term brand loyalty in question.  

87% of business leaders to increase digital use to drive sustainability

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Tata Consultancy Services (TCS) has launched its inaugural 'The Digital Sustainability Index (DSI)'. The first APAC framework and index has been developed in partnership with The Centre of Digital Enterprise (CODE) at the University of Auckland Business School to track the adoption and leverage of digital tech along with their social and environmental objectives.

Support for 40:40 vision expands to ASX300 to achieve gender balance

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40:40 Vision, the investor-led initiative to achieve gender balance in executive leadership, has expanded to the ASX300 with media giant Southern Cross Austereo (SCA), homewares retailer Adairs, healthcare company Healius and insurer QBE among the latest signatories. Chief Executive Women (CEW) census data shows firms in the ASX300 are some of the worst performing when it comes to gender diversity in executive leadership, compared to the ASX100 and ASX50. 62% of all ASX300 firms have no women in line roles, meaning there’s no consistent pipeline to increase the proportion of female CEOs and executive leaders.

Simpleview launches study on digital transformation in tourism sector

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Simpleview, in conjunction with Karen Bolinger Consulting, conducted a global survey into the current digital landscape, finding the visitor economy is not keeping pace with other industries and is fuelled by low digital literacy within organisations and stakeholders.

Rising wage inflation and interest rates top the list of concerns for SMBs

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Rising wage inflation is the top concern for SMBs with over 70% of small-and-medium-sized-enterprises worried about increased wage costs impacting their business this year. According to the latest SME Growth Index by Australia’s non-bank business lender, ScotPac, 75% of larger SMEs (revenue between $5 – $20 million) are worried about rising wage costs, with 68% of smaller SMEs (revenue between $1m and $5 million) citing an increase to employee expenses as their number one concern for reaching revenue targets this year.

Half of ANZ SMEs can’t secure funds due to slow lending and red tape

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Half of small and medium-sized enterprises in Australia and New Zealand have been unable to secure sufficient funding on at least one or more occasions over the last five years, according to a new report from cloud banking platform Mambu. Alarmingly, more than two thirds of SMEs globally have been unable to secure adequate business financing in that same period. The ‘Small business, big growth’ report surveyed over 1,000 SME owners globally, including SMEs in ANZ, who set up their company and applied for a business loan in the last five years.