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The SME’s guide to effective outsourcing

Author

Maziar Foroudian
May 24, 2024

Latest Stories

Unlock growth and streamline your business with effective outsourcing strategies. Read insights from top experts in this edition of ‘Let’s Talk’ focused on aiding SMEs in their journey to progress and thrive.

Tech startups, it's time to pivot East! Discover why India's thriving tech scene and astronomical economic growth are creating a jackpot of opportunities for Australian startups. Find out what you're missing with expert insights from Arrow Digital CEO.

Step into the future of fun at IAAPA Expo Asia 2024. Join industry leaders and witness the cutting-edge advancements shaping the amusement industry, from thrilling rides to AI experiences, all under the roof of Bangkok’s Queen Sirikit National Convention Centre.

The hospitality industry could be in hot water: new analysis shows an alarming 7.45% probability of business failure in the next year, highlighting serious economic challenges for food and beverage establishments.

Savour the global talent pool without skirting the law! This in-depth article navigates the complexities of worker classifications and how businesses can stay ahead of the curve by embracing a flexible workforce- carefully and correctly.

Join us in celebrating Lucy Fidock, the admirable winner of the 2024 ESET Women in Cybersecurity Scholarship, who exhibits exceptional talent in Australia's booming tech industry, all while championing the cause for increased gender diversity in STEM fields.

Australian fintech firm, Zeller, seeks to foster innovation in rural towns with a fresh $10,000 yearly grant for regional small businesses. Discover how Inglewood's business community has overcome adversity and thrived in their changing economic landscape.

The Startup Daily Best in Tech Awards return bigger and better! With 5 new categories and expanded finalist spots, it’s an unmatched showcase of Australia's thriving startup sector. A chance for trailblazing tech startups and scaleups to shine.

Top Tools

  • RephraseAi: Turn text into professional videos with ease

  • SlidesAI: Create presentations with AI

  • Text Blaze: Chrome extension for productivity and efficiency

  • Osum: AI-powered market research

  • Bardeen: Automate with Ai

  • GalileoAI: Revolutionizing design ideation with AI

  • DecktopusAI: Transform your presentations with AI-owered features

  • Klaviyo: Power your marketing with AI and personalization

  • Graphy: Reporting with AI-powered dashboards

  • WP-Stack: Streamline WordPress site management with ease

Top stories

Creators are not just changing marketing, but also transforming product development. They are driving demand for specialized products, accelerating product life cycles, and changing what customers value. Companies that recognize this power can partner with or act as suppliers to creators.

The Australian government launched a $36 million grant program to support the quantum sector through the Critical Technologies Challenge Program. This funding aims to accelerate the commercialization of quantum solutions, addressing the challenges in securing private capital for early-stage quantum tech.

Australia

Hospitality tech platforms HungryHungry and MOBI merge to expand into new markets, with a focus on the US. The deal will bring together innovative software, with both brands continuing under a new holding company. Exciting new products and services are on the horizon.

New legislation before Australian parliament will require large businesses to disclose detailed information on their efforts to reduce carbon emissions. This move comes after the COP26 conference highlighted the importance of transparent climate-related financial information.

Southern Phone was fined $244,140 for not managing customer complaints properly, breaching regulations 77 times in 2023. ACMA found delays in informing customers and inadequate records. Changes have been made by the company.

Australian Economy

The Fair Work Commission will soon announce new National Minimum Wage and awards wages, with various stakeholders advocating for sustainable increases. The Council of Small Business Organisations Australia recommends capping wage increases at 3% to alleviate rising costs.

Farmers caution against cutting immigration for political gains, citing urgent need to address skills shortages in key sectors like health, education, aged care, and tourism. Labor's plan to reduce net migration could have negative economic impacts.

World

Aaron Silverbook stumbled upon a study from 2000 about a genetically engineered oral bacterium that could prevent tooth decay. He tracked down the original author, founded Lantern Bioworks, and launched Lumina Probiotic. The product is raising safety and ethical concerns.

China's response to economic challenges includes investment in high-tech goods to secure control of global supply chains. Traditional exports are declining in demand, causing a shift towards green technology and flooding global markets leading to a drop in export prices.

The internet may not be as eternal as we think. Digital decay is causing a significant number of web pages to become inaccessible, leading to a phenomenon called "link rot." This trend can have negative impacts on journalism and our ability to understand subjects.

Tech

Marigold's white paper explores the practical applications of generative AI for marketers, including ideation, copy adaptation, image generation, and text summarization. Crafting effective prompts is essential for aligning AI-generated content with brand voice and goals.

Google Ads' new customer acquisition (NCA) feature helps businesses reach and convert new prospects. Leveraging NCA effectively involves setting campaign parameters, monitoring data closely, and using multiple methods to classify customers as new or existing. Implementing NCA with a direct new customer tracking command is recommended for accurate results.

Honor to include Google's AI assistant Gemini in upcoming smartphones. Company's latest flagship, Honor Magic6 Pro, already boasts AI features. Competitive move against Samsung's Galaxy S24 series. Future devices will also feature Google's text-to-image technology Imagen 2.

X, formerly known as Twitter, is removing public "likes" from user profiles. Director of Engineering Haofei Wang said this change aims to reduce backlash for liking "edgy" content and improve content recommendations. Musk's history of changes to X makes this likely to happen.

Curated for you

Traditional performance reviews can be frustrating and ineffective, leading to misunderstandings and employee dissatisfaction. Transforming reviews into a continuous conversation focused on development and clear communication can lead to better results and mutual benefit for employees and companies.

Research shows people often feel pressured to agree to requests, leading to resentment and lower-quality work. Managers can ensure voluntary agreement by giving time to respond, asking for replies via email, and providing examples of saying "no."

Ruminating on negative thoughts can hinder a leader's effectiveness. Rumination is distracting, worsens moods, and distorts self-perception. To break the cycle, observe thoughts objectively and reframe them positively. Carving out "worry time" can also help.

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