Master the new financial year with Paycorp
If you chose to align your business’ financial year with the tax year of assessment, then you’ve just closed off the first month your business’ financial year. By now, you’ve learnt all the early lessons and are ready to adjust your game plan for the remainder of the upcoming year. We at Paycorp always like to lend a hand by making sure you have the necessary information and solutions to give your business a competitive advantage. From financial planning and hiring best practices, to everything that’s ahead in fintech and payments in 2017, here’s an overview of what we touched on in March.
Getting your business in the right shape
How well you formulate your financial plan has an undeniable effect on the financial success of your business. Management becomes easier when you can forecast and prepare. That being said, you need to assess the previous year’s financial plan to be able to put any sort of critical thinking into this year’s plan. Once you know where you stand, it’ll be easier to draw up a revenue model and balance it with all your projected costs and expenses. After that, it’s all about tracking, monitoring and protecting your bottom line from any financial curve balls.
You might also be looking to hire more employees. That’s good news because it means that your business is growing. But you have to remember that hiring is a delicate and extensive process that you shouldn’t hurry. Your workforce is one of your business’ most valuable assets and making sure you get it right every time will benefit your business. Read the tried and tested hiring tips that have helped Paycorp cultivate a united working family since 1999 here.
2017 will be another big year in fintech
Every year seems to be bigger than the last in fintech – and 2017 won’t be any different. This is the year that some are calling the year of blockchain while the mobile payments market is predicted to hit $780 billion (about R10 trillion). Our payments might be more secure in the very near future, thanks to huge leaps being made in biometric security measures and the use of artificial intelligence in payment security.
2017 is also the year that the ATM turns 50 years old. The ATM started out as a cash dispenser in the late 60s, and improved and evolved into the multifunctional, indispensable, innovation we all rely on today. As ATM Solutions turns 18, we look forward to another 50 years of this resilient and highly adaptable innovation.