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BUDGET-FRIENDLY WAYS TO ENSURE YOUR BUSINESS AND EMPLOYEES’ SAFETY

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Your staff members’ health and safety is your highest priority. When an individual is hurt on the job, it can take a toll on them as well as slow down production for you. You can protect them from the dangers of the workplace and save cash for yourself as well. Here are some budget friendly ways to ensure your business and employees’ safety.

 

Teach Your Staff How To Use The Equipment

Employees who operate the machinery in your business should be properly trained on how to use it. Those members of your company who are unsure of the correct procedure can damage the equipment while hurting themselves in the process. As a person is hired on, carefully instruct them on how to do their job, then observe them as they perform it. If they are required to operate electrical equipment or a generator at any time, indicate where the manual transfer switch is and how it operates. Point out where the sharp points are on the item they are working with and provide them with the protective gear they will require to take care of themselves. The more that they know about their duties and what they are using, the fewer chances they will have to get hurt.

 

Purchase Quality Safety Equipment

While you will have to spend extra at the onset, buying high quality safety equipment will save you cash in the long run. You will less likely have to replace what you have bought right away and it will last for months. Tools and personal protective gear that is cracked or worn out could fail and put your employee in danger. Analyze the situation where it is needed to determine what you should purchase. Do research to find out what items that you are looking for have the highest rating and are recommended the most. You can also reach out to your colleagues in your industry to see what they suggest and what has worked the best for them. As you investigate this, record which store has the best price. While you should make the investment into the best instruments available, you should also look for the best deal to save you money.

 

Know What OSHA Requires Of You

Knowing how the law applies to a business of your size can aid you greatly in protecting your employees. Find out what is required for you, then adapt your workplace to accommodate it. Purchase the needed equipment that your staff must wear to keep them safe. Make the necessary changes to the layout of your facility, including keeping walkways clear and emergency exits free of clutter. Document what has been done in the event that you must speak to someone at the agency or explain an accident to investigators. Making adjustments at the start can save the cost of a fine if you ignore them.

 

Educate Your Employees About Safety Procedures

It is one thing to buy all the equipment needed to take care of your staff. It is another for them to use it. Schedule time to meet with each department and explain how to utilize the items that they have to protect themselves. Demonstrate how each works, then ask them to try it also. Provide documentation to them to refer back to when they are on the job and must apply it. Conduct training seminars on the correct procedures in the event of an emergency, such as fire or damaging weather. Let those employees who have questions or want to learn more know that they can come to you at any time and you will talk with them about it. Communication with those in your facility is a great way to keep them safe and to defend your business.

 

Notate Safe Procedures Throughout Your Building

Your staff may need a reminder of what to do about safety when they are on the job. Post signs around your equipment to indicate where pinch points and sharp places are on the machinery. Tape signs around the facility that remind your employees of things they should do, such as pick up trash or keep walkways clear. Keep track of the days that your business has operated safely and reward everyone who works for you when they reach a certain goal. Be generous with the notes that you set up around the building. While some might feel that it might be excessive, there will be a time that they will be grateful for the reminder. Any opportunity that you can take to keep them protected from injury is worth the time to do. Keeping your employees healthy and happy is vital to the success of your business. However, you do need to make a profit at the end of the year so you must watch what you spend. Budget friendly procedures, such as posting notices about safety or instructing your staff how to do their jobs correctly, will save you cash in the long run while protecting the individuals that work for you from harm.

Business

WHY A MULTI-ACQUIRER STRATEGY IS KEY TO GLOBAL GROWTH

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As online business grows exponentially, finally fulfilling the internet’s promise of a ‘global village’ in which anyone can buy and sell anything from anywhere, CellPoint Digital is providing merchants with the ability to increase conversions, reduce operational costs, and boost profits.

Typically, merchants retain long-term partnerships with a single acquirer that processes credit or debit payments on their behalf. However, leading merchants and payment services providers are increasingly finding that working with multiple acquirers can deliver compelling commercial benefits.

As a payment orchestration platform provider, CellPoint Digital connects merchants through a single API to the acquirers they want, that will support them on their growth journey. This ensures they can offer customers anywhere in the world the seamless payments experience that is so desired.

While many merchants still opt for traditional payment services, others are learning that this one-size-fits-all approach is becoming incompatible with a more complex and international eCommerce landscape.

Here Mark Patrick, Head of Global Payments at CellPoint Digital explores the concept of multi-acquirer strategies and touches upon the benefits to customers of CellPoint Digital’s solutions.

 

What is a multi-acquirer strategy?

A multi-acquirer strategy is one in which a merchant holds accounts with more than one acquirer which processes credit or debit card payments. Though introducing multiple players might at first appear to be a needless complication of a merchant’s payment ecosystem, the advantages of a multi-acquirer strategy are significant.

Factors such as the sector they operate in, their size, and the regions they cover all contribute to a merchant’s decision to diversify the number of acquirers they work with, but others are more universal.

Increased conversion rates – Increasing the completed number of sales is essential for achieving growth objectives, yet is impeded by the likes of declined transactions, abandoned carts and unsatisfactory customer experiences.

With increased payments acceptance – facilitated by more intelligent routing –  coupled with an ability to accept a wider range of payment methods, merchants are able to provide their customers with a greater mix of both domestic and international payment options.

Omnichannel support – Today’s merchants need to be able to take various forms of payments to maximise sales. As a result, omnichannel support and the flexibility it affords is a key benefit of deploying a multi-acquirer strategy.

With the migration towards digital channels gathering pace every day and the growth in alternative payments reaching record highs, consumer expectations are more sophisticated than they have ever been. They demand secure and seamless payment experiences across a range of channels and the ability to use their preferred payment methods.

Accommodating these diverse and changing consumer preferences while preserving growth requires merchants to modify their payment strategies through multiple acquirer relationships.

International growth – The transaction speeds and success rates of payment gateways can vary considerably depending on payment methods used and consumer location.

Smart routing offers a solution through the use of advanced data analytics and technologies such as artificial intelligence (AI) and machine learning (ML). By analysing large datasets according to payment method and location, it can be determined which payment gateways will generate optimum returns per transaction. It means merchants can more effectively process payments, enhance revenues, and save on cross border transaction fees.

Merchants across the globe are now implementing these dynamic routing techniques on a much broader scale and boosting their transaction success rates both domestically and across borders.

Compliance support – With a greater online presence, more and more merchants are offering their services globally. However, meeting regulatory mandates as part of a global operation is complex.

With a Payment Orchestration Platform forming the bedrock of a multi-acquirer strategy, merchants access bespoke middleware designed to not only manage multiple PSPs but also achieve jurisdiction-based compliance.

The Platform provides the merchant with PCI compliance using flexible tokenisation of personal data and streamlines KYC and PSD2 management, helping the merchant ensure compliance while reducing compliance costs.

 

Less is not always more

The deeper we get into the digital age, the more it’s communicated to us that benefits are had by having less. Accessing operations through just one interface. Managing accounts through just one app. Completing digital transformation through just one provider.

For the most part, this is true. But it is not true when it comes to working with acquirers. By developing a multi-acquirer strategy, merchants can plug into different acquirers across the globe, helping them to expand cross border and avoid the need to navigate relationships with individual acquirers. And, with intelligent routing, each payment is processed in a way that works best for both merchants and customers alike.

 

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TAKE THE NO-CODE LEAP TO DIGITAL INNOVATION WITH A FUSION TEAM

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Chris Obdam, CEO, Betty Blocks

 

In the last couple of years, a new sector has emerged alongside enterprise financial organisations—an ecosystem of fast-growing Fintech startups that develop innovative solutions for the banking sector. These small, flexible startups and scale-ups began filling a gap the ‘big boys’ left quite some time ago. Then, they gained even more ground during the pandemic. According to KPMG, Fintech investments worldwide amounted to $98 billion USD in the first half of 2021, compared to $121.5 billion over the whole of 2020[1].

 

The massive surge has financial regulatory bodies scrambling to balance the benefits of modernising the industry with the necessity of strong oversight. But, what if traditional financial enterprises could combine their durability, reliability and years of experience with the flexibility of a startup? They can! More and more enterprise organisations are becoming agile, empowering digital-savvy colleagues and improving competitive value.

 

Fusion teams

Their approach? They break through patterns and almost literally through walls in their organisation. The most successful organisations team up with genuine problem solvers. It’s a solution-oriented approach, which can be really successful if governed the right way. We like to call it a fusion team, a team that empowers digitally-skilled and solution-oriented employees to work side-by-side with the IT department while using a low-code and no-code development platform.

 

Citizen development

A fusion team brings together people with diverse professional backgrounds who use data and technology to achieve shared business outcomes. Ideally, a fusion team combines pro-developers with citizen developers. A citizen developer is a business person without coding experience that builds apps using a no-code or low-code platform.

The purpose of the professional developer, in a fusion team, is not to train the citizen developer to become a pro-developer but to bring guidance and governance to the project. Before building successful software, a fusion team will require knowledge and guidance through the software development life cycle (SDLC) phases. IT feedback is crucial to helping a fusion team understand what makes good software and how new platforms can (or cannot) integrate into an existing system. Citizen developers should receive coaching to make decisions that lead to architecturally sound, value-adding applications.

 

What are the challenges that a fusion team can tackle?

  • Modernisation of legacy systems. Many banks have been around for years, expanded their software, but regularly have to deal with legacy systems or even a vendor lock-in.
  • Regulations can change fast; that’s why financial organisations need to increase flexibility and improve adaptability. A flexible layer on top of core systems or legacy systems can profit the whole organisation.
  • Counter shadow IT. Thousands of employees means that a lot of solutions are single handedly-built. All these solutions can be beneficial for the employees and even for your customers, but the thing is that they are not checked and governed by IT. For example, you run the risk that they are not meeting all your security requirements.
  • Digitisation of processes, like the onboarding process for customers, is still a long paper process within financials. What if this could be 100% digital and automated? This could save you a lot of repetitive work, energy and money.

 

Create an environment for innovation

Banks tend to have difficulties setting up the right conditions to empower the workforce to innovate towards the future. Our first reaction to possible security risks is to impose more rules and restrictions, while the solution lies in a coaching attitude, independent of strict regulations. You can empower digital transformation by using a no-code or low-code platform.

A fusion approach encourages better software governance, allowing IT to help mitigate the risks of shadow IT projects. With a no-code or low-code platform, you can combine existing secure systems, extract data more efficiently, effectively communicate and convey between systems and thus better manage qualitative information. Governance is not a simple process or a task to check off and forget about; the essential governance feature for low-code or no-code development is a platform provider with the flexibility to adapt to specific needs of an enterprise. The provider should be a partner in expanding the role of citizen developers within the organisation.

Taking the leap into no-code software development with a fusion team will empower the entire organisation in digital transformation. It’s a strategic move that helps enterprises become more resilient against unexpected challenges – such as a pandemic or new consumer demands. Furthermore, you create a modern and innovative working environment with digitally-capable and engaged employees.

 

[1] Source: KPMG:

https://home.kpmg/nl/en/home/media/press-releases/2021/09/record-fintech-investeringen-in-eerste-helft-2021.html

 

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