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The finance world is changing big time, driven by a wave of innovative technologies collectively known as Fintech. But what exactly is it? In a few words, it is a dynamic domain where IT companies like Relevant Software are developing tools and solutions that are transforming the way we manage our money. 

Why is this transformation so critical? Traditional financial services, while established, are often riddled with inefficiencies, limited accessibility, and a lack of personalization. This translates to a frustrating and time-consuming experience for customers, who increasingly demand agility, convenience, and a tailored approach to their finances. 

So, how can Fintech address these challenges? Let's look at the details.

Digital Banking

Fintech innovations are breaking down barriers to financial inclusion. Millions of people worldwide still lack access to basic financial services. Fintech is bridging this gap with mobile-based solutions that don't require traditional bank accounts. This allows individuals to save, send, and receive money securely, promoting financial independence and inclusion. 

Payment Innovations

Remember when making a payment meant writing a check or waiting days for a bank transfer to clear? Those days are long gone. Now, peer-to-peer payment apps, contactless payments, and instant payment systems are the norms, radically reducing transaction times and increasing user convenience. 

Automation and AI

Fintech introduces automation solutions powered by Artificial Intelligence (AI) that streamline tedious manual tasks. Mortgage approvals, for instance, can be significantly expedited with AI-driven document processing and risk assessment, saving both time and resources for lenders and borrowers. Similarly, AI-driven chatbots can handle customer inquiries 24/7, providing a level of service that was unimaginable just a few years ago. 

Low Code Platforms

Low code platforms are shining as a new trend in fintech innovation. By using visual tools instead of writing code, creating fintech apps becomes much easier, helping close the skills gap. Fintech newcomers can harness the power of low-code platforms to quickly bring to life innovative ideas that stay in step with market trends

Blockchain and Cryptocurrency

It's impossible to talk about Fintech without mentioning blockchain. Through this technology, one can perform transactions securely and with transparency, without reliance on a centralized authority. Additionally, blockchain is used to prevent fraud, streamline cross-border payments, and improve supply chain transparency.

RegTech

The fintech sector moves fast, often outpacing regulatory frameworks. This can lead to a gray area where innovations flourish without adequate oversight, potentially leading to risks for consumers and the financial system at large. Therefore, collaboration between fintech companies, traditional financial institutions, and regulatory bodies is crucial to ensure that innovations benefit everyone without compromising security or fairness. 

InsurTech

Insurance is another area ripe for disruption. InsurTech companies are utilizing tech to make insurance options more economical, widely available, and tailored to specific preferences.. Think pay-as-you-drive car insurance, or parametric insurance that pays out based on specific events, like a natural disaster.

Open Source & SaaS

For fintech startups, being quick and adaptable is key. That's where open source and SaaS (Software as a Service) come in. They allow companies to use and improve software without the hassle of managing it. This means more time focused on customers and less on tech headaches. 

Embedded Finance

This means users can access financial services through non-financial platforms. Think buying insurance from your favorite online store or getting a loan from your ride-sharing app. It's making finance a seamless part of everyday life. 

It's easy to get caught up in the excitement of all these innovations, but it's also essential to approach them with a critical eye. Regulatory hurdles, security concerns, and the digital divide (the gap between those with access to digital technologies and those without) are just a few of the issues that need addressing. Moreover, as the financial sector increasingly relies on technology, the risk of cyberattacks constantly grows, necessitating robust cybersecurity measures. But the potential benefits—increased accessibility, efficiency, and personalization of financial services—are too significant to ignore. 

And what about the traditional banks? Some may argue that fintech is spelling doom for conventional banking institutions, but that's not entirely accurate. Sure, fintech is disrupting the status quo, but it's also pushing banks to innovate and adapt, leading to collaborations that combine the best of both worlds. Traditional banks are leveraging fintech to enhance their digital offerings, making banking more accessible, efficient, and customer-friendly. 

Therefore, what can we expect for financial services moving forward with the rise of Fintech? It's a question many in the industry are pondering. While the trajectory seems clear—more automation, increased personalization, and further democratizing financial services—the pace and nature of these changes remain fluid. 

What's certain is that those who can adapt to and leverage these innovations will find themselves at the forefront of a new era in finance. The journey is complex, but the destination—a more inclusive, efficient, and secure financial ecosystem—is undoubtedly worth the effort.

 

The present invoicing and billing technologies were developed to manage the payment processes for businesses. Paper invoicing remains a popular option for several companies in the United States. But the majority of them have shifted to electronic methods of billing and invoicing.

The country was lagging far behind to adopt the technological advancements in electronic invoicing compared to Europe and Latin America. However, the current trends have revolutionised electronic billing and invoicing for the past couple of years.

These advancements are responsible for the gaining popularity of the current invoicing and billing technologies. Let’s see how technology has shaped the way businesses in America send bills and invoices to their clients.

Automation of the Invoicing Process

The automation of the invoicing process has reduced the need for companies to track their financial transactions. Most companies in the United States have stopped using paper bills. Even those companies that have not automated their entire billing process prefer using blank invoice templates for service providers

Automation of the process enables organisations to get reminders for due dates and delays in receiving payment. It has also helped companies in the country stay on track with their billing and payment schedules.

Automating the manual responsibilities of creating and sending bills allows business owners and staff to focus on other essential tasks. Companies can also save money because they do not require additional staff to take care of these responsibilities.

Several companies have also adopted blockchain technology to streamline their billing and invoicing processes. It allows them to keep a record of all their financial transactions. It also eliminates the need for additional resources or third-party vendors.

Automating the manual responsibilities of creating and sending bills allows business owners and staff to focus on other essential tasks.

Blockchain technology has not only made financial management smoother but has also improvised the entire invoicing process. The technology prevents any manipulation or accidental deletion of invoices once they are recorded and sent to the client, thereby eliminating the risk of fraudulent activities.

With the gradual adoption of blockchain technology in American businesses, we have started noticing the decline in traditional invoicing systems.

AI and Machine Learning

The advancements in AI and machine learning technology have taken the automation of invoicing solutions up a notch. Most software providers can offer a holistic approach that features functionalities beyond the basic invoicing cycle.

The intervention of AI and machine learning unlocked humanly unimaginable software abilities. Companies can process hundreds of invoices in a short time while processing significant amounts of financial data.

It is also easier to identify or verify past transactions, which gives the business better control over their cost and supply chain. Using AI and machine learning technology can also spot anomalies and errors with the least amount of human intervention.

Cloud Invoicing

With the increase in the use of the Software as a Service (SaaS) model, most billing technologies have started operating from the cloud. They allow businesses to access financial records and data from a device connected to the Internet anywhere in the world.

Cloud-based invoicing also enables people to receive real-time business updates and take the required action. Business personnel can address any urgent issues with the payment in real-time to maintain their company’s reputation. Digital wallets have also become a part of cloud invoicing already.

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Most business owners and managers can access cloud invoicing through mobile apps these days, which has made the process extremely convenient. With the increase in remote working due to the COVID-19 pandemic, most companies have started relying on cloud-based software instead of traditional ones.

In the present times, any company that fails to provide mobile billing options is bound to lose valuable clients.

The Rise of Real-Time Global Payments

Gone are the days when companies had to wait for days or weeks to send invoices and receive payments. Every business expects real-time transactions these days. The COVID-19 pandemic affected the economy of the entire world, so businesses need their money in real-time.

That is why most companies rely on electronic billing and invoicing processes, as they tend to be faster and more accurate than the manual ways of raising a bill or sending an invoice.

Businesses of every size have started adopting electronic invoicing because they reduce the cost and increase efficiency. As we mentioned before, most countries in Europe and Latin America had already started using electronic invoicing before America. Therefore, to continue business relations with these countries, American companies have to adopt electronic billing and invoicing methods.

Modern billing and invoicing methods have enabled American companies to build better business relationships within the country and the world. With increased productivity, companies can save costs and time.

The present billing and invoicing technologies played a prime role in mitigating the challenges faced during the COVID-19 pandemic. We can expect the technology to progress further and increase productivity while reducing losses.

What pops into your mind when you think about payroll services? Probably making some complicated calculations in the massive number of worksheets. However nowadays, as the technology evolves day by day, like every other business domain, personnel management, workforce planning as well as alignment with the accounting process are being enhanced and re-designed with new generation software as a service (SaaS) platforms.

Payroll is more than a calculation of paycheck. Rather, it is a secure form of the income statement that is both critical for the employer and the employee. It is a simple yet highly technical field of expertise and may have resulted in legal penalties and burdens on the employer if the payroll process is not managed correctly. Because payroll calculation includes income tax, other tax calculations, and withholdings, as well as considering benefits like premiums, expense reimbursement, health insurance, and so on.

If you are a small business owner or an HR or Administration responsible working in a small business, to avoid wasting too much time each month for a specific task, and to find a solution with an affordable budget, the best payroll services may be the software solutions for your case.

Software as Service (SaaS) payroll solutions will benefit you in terms of time and save your money that might otherwise be wasted in outsource payroll companies or hiring personnel dedicated to this, which indeed cost more than a subscription to payroll software.

Automatic Payroll Calculation and Tax Features

For a small business with a limited number of full-time employees, payroll service software may be seen as the best payroll service option to choose from.

Payroll is more than a calculation of paycheck. Rather, it is a secure form of the income statement that is both critical for the employer and the employee.

They offer automated payroll calculation along with the necessary legal tax calculations such as income tax as well as manage financial reflection of benefits like health insurance and overtime payments.

You can calculate the payroll of your employees quickly and do not have to deal with complicated menu bars.

Adjusted to company size

Most of the payroll services online offer you several plans which can be adjusted and customised based on your employee number and needs. When choosing the one among the best payroll services that fit your company, please bear in mind to control their policies, whether they ask fee per person or a certain limit or they demand an extra fee for part-time employee payments which occur irregularly. If they have payroll limits per month and you have too many variables changing at each monthly period, then you should search for the best payroll service that provides more flexible options.

Workforce Management

If your company operates based on shifts, managing schedules and employee working hours is a big deal, especially considering that the best payroll services come with built-in HR tools such as workforce planning, automated shift planning, and platforms for personal agendas which would be a beneficial asset.

Through this feature, if you need it, you can see your daily schedule, which will reduce the rate of errors. Special reports as per company unit, date range, and type of employee, and monthly shift reports for employees may also be produced.

Integration to Company Software

Whether you have a digital service company or a business that has brick and mortar stores, you will have several other pieces of software to execute your business ranging from CRM tools and financial dashboards to procurement and shipping platforms. Particularly, the integration of payroll tools to accounting software or existing workforce management or HR tools such as SAP will be a crucial factor when deciding for the best payroll service for your company.

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Why is SaaS the best payroll service solution?

  They are affordable and a smart decision for a small business compared to a full-time expert or outsourcing.

  On a single screen, you can do all your calculations.

  In real-time, you can monitor the payrolls and share them with the accounting department or legal party.

  You will not get lost in complicated menus.

  They complete payroll calculations quicker because of these properties.

  Simplify with one click the entire shift schedule.

  Online recording of all payroll payments, expenditures, promotions, incentives, and bonuses.

  An online framework to control leaves and shifts

  Each worker can have his or her account, demand leave, and oversee their shifts or overtime hours.

  Manage  I-9s, part-time W-2 workers, 1099 contractors, and freelancers.

To Sum Up

Payrolls must consist entirely of accurate statistics. The payrolls must be properly maintained and preserved in the case of court proceedings concerning the employee and the employer since they are valuable evidence. For this purpose, efficient and smart payroll software, instead of the effort, money, time, and manual labor spent on complex files, is a very practical solution among the best payroll services on the market, particularly for small companies.

A Clutch study shows that 44% of workers in the United States are working remotely at least five days a week due to the pandemic. This is an increase of 17% before the outbreak of COVID-19. While remote working offers excellent benefits like eliminating unnecessary physical contact, it also presents several challenges like lack of work-life balance and routine, increased distractions, slow internet in certain areas, and remaining productive.

Fortunately, SaaS companies are working to offer solutions to alleviate the stresses encountered by remote workers, including finance teams.

Cloud-based lending

Cloud-based loan servicing software allows organizations to create, collect, and service loans online. In contrast with antiquated paper-based systems that have been completely stymied by COVID-related shutdowns, SaaS loan servicing doesn’t require any face-to-face interactions and it isn’t hampered by snail mail. That means finance teams in real estate, sales, and banking can close loans in significantly less time, even if the local office is temporarily closed.

Of course, the job’s not done when a loan is signed and accepted. SaaS companies are also helping finance teams to manage these e-loans efficiently by building time-saving automations into the software. Think of it like cruise control for banking, so you can focus more time on other parts of your business that require human interaction.

Team communication

Slack serves as a virtual office for remote teams, enabling group or one-on-one communication between colleagues and facilitating immediate access to news and feedback.

Slack is best known for its communication service. However, it also allows you to produce alerts about feedback or new product reviews and automate progress and business activity reports with added plug-in apps.

A Clutch study shows that 44% of workers in the United States are working remotely at least five days a week due to the pandemic.

The features promote engagement and focus among employees in everything they do and allows them to also focus on the company’s collective goal. Slack allows users to create chat groups called channels. Individuals can use GIFs or emojis to convey their emotions to their colleagues, which is vital, especially in these difficult times.

Cloud-Based Storage

You can get work done from the comfort of your home by utilising cloud-based storage solutions like Google Drive, Microsoft OneDrive, DropBox, and more.

Some of the best features offered by Google Drive for remote work on its free version include 15GB cloud storage, 10GB email for large files, and working on spreadsheets and documents offline. It also offers optical character recognition, professional templates, control access to files, and customisable sharing settings.

Google Drive is compatible with nearly everything, including Microsoft Office, so you do not have to convert files. While you can use the free version comfortably, upgrading to your desired package offers more cloud storage, which is vital for professionals who work with large files.

Project Management

Managing a project can be a daunting task that may become much harder if your team works remotely. However, project management solutions like Monday allow you to manage your work and team in one workplace, ensuring effortless tracking, delivering, and planning. While it offers hundreds of customisable and visual templates, you can also develop your own to suit your preferences and needs.

Through automation, you can avoid repetition and minimise human error, allowing you to focus more time on handling essential tasks rather than correcting avoidable mistakes. Monday lets you visualise your work with views in the form of a calendar, map, kanban, timeline, and many more. You can reach the company customer support team at any time and even watch their tutorials, join every day live webinars, or go through the knowledge base.

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Video Conferencing

Zoom became a popular mode of communication when the pandemic became widespread. People had to stay home, so they started using Zoom because it offers an easy and reliable cloud-based platform for audio and video conferencing. You can use it to host an online meeting or as an instructional webinar tool.

While a free account accommodates 25 participants in a single meeting, you can add more people depending on your subscription. It comes with screen sharing, which aids in resolving issues and makes it easier to show and discuss different processes visually.

Conclusion

Since the pandemic thrust many people into remote working, workers have learned to rely on SaaS solutions to perform their duties. These tools have made the transition to remote working less challenging.

The number of employees working from home has drastically increased over the past two months, and employers are starting to realise the benefits. In fact, 74% of CFOs intend to shift some employees to remote working permanently, according to Gartner. Allowing employees to work from home was previously used as a method to reduce overheads and as an employee incentive to reduce staff turnover.

Now, however, working from home has become the new normal, and as the workforce becomes increasingly disparate geographically, cybersecurity needs to be higher up on the executive agenda. Organisations need to have the appropriate cybersecurity measures to empower employees to work remotely, whether it be from home, in an office, or on the move. CFOs have the ability to facilitate a conversation with CIOs and CSOs to avoid incurring any additional costs from unnecessary IT help desks and data breach fines. Simon Biddiscombe, CEO of MobileIron, outlines the risks of remote working and potential safeguards.

Productivity

Not only does increased working from home present organisations with a significant cybersecurity risk, it also has the potential to limit productivity. The Office of Budgetary Responsibility has estimated that the financial services may see a 5% drop in productivity whilst enforced working from home policies are in place. CFOs need to carefully balance budgets to ensure productivity whilst maintaining the benefits of remote working.

Traditional cybersecurity principles are archaic and dangerous and threaten corporate resources. The on-premise perimeter has been decimated by a general shift to cloud applications and mobility, and the recent surge in remote working has only emphasised this shift. As more employees use personal devices and networks to access business applications, the line between business and personal data is becoming blurred.

CFOs need to carefully balance budgets to ensure productivity whilst maintaining the benefits of remote working.

Additionally, cybercriminals are already exploiting the relaxed security measures brought about by the sudden need for organisations to shift a large part of their workforce to teleworking, as shown by a Europol report. If a bad actor penetrates a device through a personal channel, what is to stop them from breaching a business application?

The Security Foundation

Organisations need to increase their governance over the devices being used to access corporate data. A unified endpoint management (UEM) platform allows IT teams to secure, manage and grant authorised users, devices and apps access to corporate resources and networks. UEM also provides visibility and insights into usage and patterns that IT can use to determine and enforce compliance. As financial services employees work from home, having this level of visibility over employees’ personal devices is just as important as having control over corporate devices if they are using business applications.

UEM separates the corporate digital workplace from personal activities on a device. This is done by containerising and protecting data and applications through application sandboxing. Device encryption can also be deployed so only authorised users can access crucial data. For instance, when banking staff return to work, a corporate scanning app can allow managers to scan a customer’s ID and passport with a smartphone camera.

Integrating threat detection management with a UEM platform allows for continuous enforcement and protection of data, both on the device and on the network. AI-based software constantly assesses the risk a device poses to a company’s ecosystem as a whole through its entire life cycle. Having this 24/7 capability allows IT teams to mitigate any threats should they arise, resulting in a more secure remote work experience and increased productivity.

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Scalable Solutions

Security systems should be reviewed to ensure that all networks, devices, and applications are verified before access to crucial business data is granted. As we look for COVID-19 exit strategies, there is a clear need for any cybersecurity solutions to be scalable to accommodate the fluctuating numbers of remote workers in the future.

The accessibility of UEM means it is a highly scalable solution. The enrolment process is as simple as downloading an application and updating a device. Additionally, employees can use a self-service portal to track, add, or remove devices they have under management. If the user needs to retire a device, unenrolment can be initiated immediately. In the event that a device becomes compromised, IT teams can wipe business related applications to remediate the threats. This ability to deprovision devices remotely and selectively delete data is critical for an end-to-end device life cycle management program.

SaaS Flexibility

In order to be as agile as possible and still meet businesses essential security requirements, UEM platforms are widely available on a software-as-a-service (SaaS) basis.  A subscription-based SaaS model provides CFOs more flexibility in their payment structure as they are only required to pay for what they use instead of paying a large upfront cost for a fixed number of software licences.

A subscription offering of UEM generally gives CFOs a better return on investment. Maintenance and support are usually included in the service provided, making the need to purchase a separate maintenance and support contract redundant. Software updates are included in a subscription, helping organisations stay current with the latest capabilities and ahead of potential threats.

As we look to the future, one thing is clear: business solutions need to remain agile. COVID-19 has shone a light on the need for agility when it comes to the enterprise cybersecurity, and CFOs should embrace these solutions.”

Most of Nitin’s career has been involved with business model changes around disruptive technologies and M&A work in the TMT sector for companies around Silicon Valley. He has developed M&A strategies, conducted commercial/operational/technical due diligence and has assisted with M&A integrations and separations for his clients. He specialises in creating value from emerging technologies and helping his clients prepare and adapt to the next big thing. A veteran with over 1,000 transactions, he specialises in revenue synergies and has also led dozens of cost-focused consolidation M&A deals. His recent work includes helping CEOs, boards, investors and business leaders transform their business models by leveraging disruptive trends and M&A to pivot into new business models, utilising technologies such as SaaS, SDN, blockchain, open source, AI, IoT, AR/VR, drones and voice-enabled devices.

“As a Silicon Valley insider for two decades, it is a fascinating challenge to utilise my business knowledge, network of experts, consulting skills and experience in M&A deals to solve problems at the cutting edge of new technologies”, says Nitin. “I have built an expansive network in Silicon Valley with TMT sector clients who look to me to help them through difficult business changes, serving as both a trusted adviser and personal advocate.”

 What are the current key business and technology trends within the TMT sector?

I believe that today we are experiencing the equivalent of tectonic shifts in business that are primarily technology-driven and are impacting the fundamental ways we do business – and these trends extend far beyond the technology sector. These shifts can conflict with each other, making business strategy more difficult to conceptualise and execute today than it was in the past. Some of these shifts are as follows:

Each of these shifts is a transformation that presents an opportunity to get ahead of the game.

There are few absolute rules in this new frontier – companies need a data-driven approach to navigate the complexity, uncertainty and ambiguity, which has become profound over the last few years and is not likely to abate.

Traditionally, technology has served to enable or enhance existing business models or to create entirely new ones. More recently, we find ourselves in a place where there is a developed technology, but the ecosystems and business models around it are taking longer to evolve. Take, for instance, blockchain – here we have a viable technology, but it will take a few years to build scalable business models around it and monetise it. CEOs and corporate think tanks must devise new ways of adapting in such a landscape.

I have built an expansive network in Silicon Valley with TMT sector clients who look to me to help them through difficult business changes, serving as both a trusted adviser and personal advocate.

How is FTI positioned to take advantage of these so-called shifts and disruptions in the market?

FTI is configured differently than traditional consulting firms because we have an expert-centric approach to creating value for our clients. Most of our practitioners have deep industry experience, having operated businesses as executives and in consulting for several years, which has created a lot of credibility with clients and other executives. We are also an industry- and sector-oriented firm and taking a profitability view of the business is a highly valued and impactful perspective for our clients. We not only understand the sector, trends and structural shifts, but can also translate those into meaningful operational and tactical outcomes. Our clients tend to hire us for our expertise and experience rather than to simply add leverage to their internal teams. Given the highly sector-focused approach, we tend to formulate points of view on what is coming next, to ensure our clients are well prepared to adapt.

You have quite an amazing M&A background as well. What are key current M&A trends and drivers in the sector?

There is a lot going on in the M&A world. The last two years have been record-breaking, with unprecedented deal activity across industries, geographies, private equity and corporates. While there is some rumbling that M&A is slowing, I think that the big drivers are intact. For one, the US dollar has appreciated significantly against some developing market currencies, and that creates an interesting value discount. The 2017 tax cuts will continue to put more money in the hands of corporates, which will likely fuel M&A activity. The wave around digital business models is not cresting, and companies will acquire or strengthen their capabilities in this space. Incumbents will continue to consolidate to survive and create scale.

All these trends have put pressure on internal M&A teams and external advisers to create more value and to do it quickly. M&A integration has gone through a lot of change, and many professionals have still not adapted to the structural integration aspects and approach it ‘function-by-function’, limiting their ability to create value. There are several industries and sectors where the M&A wave is just starting – the scaling of technologies such as blockchain and AR/VR will attract preemptive strikes from bigger players. Private equity firms continue to be aggressive and are developing some unique strategies for deploying capital and creating value. When you consider all of these trends, I don’t think that M&A activity in the sector will slow down appreciably anytime soon.

The last two years have been record-breaking, with unprecedented deal activity across industries, geographies, private equity and corporates.

How do you go about keeping up with all the trends in the market while continuing to build skills and reinvent yourself?

This is an important aspect that has become critical if you want to stay current, relevant and excel. Learning patterns, adapting and creating value for the entire ecosystem around you is vital when working within this field. Gone are the days when one could read a few books or attend a couple of training sessions to grasp a new subject. Our clients are very smart people and they have access to a vast collection of materials and resources.

The way I have adapted is by learning from my network. For example, I learned about autonomous driving by speaking with approximately 50 companies across the value chain. By the time I spoke with a couple of dozen players, I started seeing patterns and trends that they were not able to see individually, such as partnership opportunities, M&A opportunities, market needs and disruptive trends.

After you’ve networked, it’s about building insights and getting into more details through targeted discussions around specific areas of autonomous driving. Clients value market insights and trends from external sources as validating. I did something similar with blockchain and IoT previously. One can always dress up their credibility with technical credentials, but this is usually less effective than learning from the field and building insights and skills from it. People are also curious about what others are thinking and doing, hence forming a cohesive, defensible, fact-based point of view often goes a long way.

Gone are the days when one could read a few books or attend a couple of training sessions to grasp a new subject.

It is widely believed that you are one of the most connected C-Level Executives in the TMT sector. How have you built such an impressive network?

Great networks are always built over time. It is easy to make connections, but it’s a lot harder to maintain them. I like connecting with people in general and I like exchanging ideas and facilitating with them – be it making introductions, sharing insights, learning from them, advising them or being helpful otherwise. Not all meetings have to be about getting something out of them – be genuine, take interest, help if you can and I guarantee that will deepen your relationships with them. I always tell people that if your relationships are strictly an outcome of your business, then something is not right, but if your business comes to you as a byproduct of your relationships, then you are doing it right. Remember, it is about the quality and strength of your network – not the numbers. It takes a lot of commitment to genuinely foster and maintain a network as it gets bigger. Your network is like a living organism and it needs to be nurtured in order to strengthen and grow. There is not one magical formula for this; everyone has different styles, but it is important to know what works best for you. The crucial element is to put yourself out there in the field.

You have received multiple awards for pioneering new approaches in M&A – please tell us about them.

The most important outcome is to innovate and adapt – awards are only a byproduct of that but, of course, serve as a validation and recognition of your contributions. Some of my work that has been externally recognised is creating a new framework for delivering revenue synergies in M&A, a new approach to managing M&A from strategy through integration by utilising Wargames - a new and unique way to assess blockchain and understand how to unlock its business model value. Additionally, I am currently working on building a new approach to assess and integrate platforms, which requires a different approach from integrating products or processes. When it comes to platforms, the bulk of value created is outside the company and delivered through network effects. Stay tuned for more on this topic.

How does one go about generating new business in today’s world? Has the approach to sales changed?

I think the best way to sell nowadays is to be visible in the right places, share insights and experiences to create a ‘pull effect’. You can no longer just show up and talk about the services your firm offers and wait for the client to bite on something relevant. More specifically, today’s clients judge your expertise by how well you understand their business, trends and context apart from your technical or functional area.

Today’s clients judge your expertise by how well you understand their business, trends and context apart from your technical or functional area.

My field is highly relationship-driven – the deeper you know your topic, the more amplification you will get from the network or relationships in order to get referrals. We don’t live in an age of long attention spans. If you meet the CEO of a company in the elevator, speak about business issues relevant to him. If what you’re saying resonates, you’ll have plenty of opportunities later to talk about how great your firm is.

You also sit on boards of multiple companies – can you tell us about them? How do you choose the companies that you join?  

Foremost, I need to genuinely believe in what the company does and that I can really add value. I am always happy to help talented people with my ideas, skills or network. A great idea is unlikely to succeed without great management teams, and resonating with these people is a key consideration for investing time.

I’m also attracted to disruptive technologies that could have a big impact on the business world. Some of the companies that I am a board member of include Pronto, a partner orchestration and automation platform; SmartBeings, an AI based smart speaker focused on enterprises; and Crosby, a blockchain-based asset tracking technology which is unique and differentiated.

What is your advice to CEOs and how do you adapt to changes in today’s world?

What is your advice to the Management Consulting community on how they should adapt to the changing landscape?

Graham Parker is the CEO and Co-Founder of Gravity Supply Chain Solutions Ltd. Headquartered in Hong Kong, Gravity is a cloud-based SaaS "real-time" b2b, Supply Chain Visibility & Execution Platform. This month Finance Monthly speaks to Graham about the company’s beginnings, growth period and vision for the next few years.

 

How did the idea about Gravity come about?

Gravity came about borne out of frustration and an obvious gap in the market. Logistics and Supply Chain Physical processes had and continue to evolve extensively; however, there was no one system giving a real-time view. The bigger the supply chain, the more bolt-on systems were required and ultimately - spreadsheet reporting. Many proclaim to do this and do that, but the reality was they simply didn't, and certainly not across the entire critical path. Darren Palfrey (Co-Founder and COO) and I decided to address the problem and this is how we started Gravity.

 

What have you managed to achieve with the company so far?

Gravity is now moving from a beta to full execution status with a number of successful POC's and fully deployed clients on board. We now have/are moving towards having contracts with some very large logistics providers, FMCG & CPG clients and Manufacturing companies, some of which are significant within their industry. We have an aggressive but achievable growth period, sustainable by the work we have put into building out a robust and scalable backend over the past three years. In essence, we are good to go, "concept to commerce" and the adoption rate is growing.

 

What are the key challenges that you’ve been faced with in the past 12 months? 

Managing people’s expectations and keeping true to our core values. For example, when you initially start, everyone wants a little something extra. The danger is that you try to please everybody, all of the time. The challenge is not that you won't build these elements, it's just keeping the development teams focused and build to scope. Being able to say ‘no, not at this point’, however this is or will be planned into the next phase of development. From start-up, through scaling into Beta and execution, you have to remain focused. We also have a very loyal and keen investor base, who have been very patient and supportive, however, we are mindful that the business needs to move forward in line with our forecasts and projections. To date, we have raised circa US$8.5m and have hit/excelled every milestone along the way, including our MRR projections.

 

What is your vision for Gravity? Where do you see the firm in 3 years? 

We intend to dominate the supply chain visibility space. We are a supply chain tech company providing "real-time" solutions for the supply chain industry built by supply chain users and industry experts. Gravity will push the boundaries and expectations for supply chain executives, the overall opportunity is endless and we will certainly evolve into for more than just the SCM visibility sector. We have a strong vision, growth plan and roadmap, plus a lot of future ideas will come from our clients as they evolve and use the platform.

 

Tell us a bit about your role within the company – what are your main responsibilities? 

I'm focusing primarily on growth, customer adoption and business partnerships/collaboration. I also lead the BOD's and represent the interests of our investor base. We are a lean but fast growing team, and individually we all kind of jump in and help out where required. What we are good at is airing ideas, opinions and suggestions relating to product or approach. Key to this is the people, so making sure there is a good balance and allowing them to be creative, at the end of the day it's all about execution, experience and usability so I ensure we remain focused on the team and the business.

 

For more information, please email:  hello@gravitysupplychain.com

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