Respond to the Interest Rate Rise by Increasing Your Data Efficiency.

Following the Reserve Bank’s decision to hike interest rates it’s once again time for Australian businesses to explore ways to minimise economic headwinds. 

Business analysts suggest these potential approaches: 

1. Improve Productivity and Efficiency: Review processes and output and look at ways to improve or streamline your operations, such as automation of processes including business software. 

2. Strategically Cut Costs: Review your current service providers and contracts and compare to the current market.  

3. Revisit Your Banking and Financial Products: Look beyond the short-term and make sure the interest rate on your business loans is competitive. 

4. Develop a Pricing Strategy: Look at ways to leverage or bundle existing goods and services. 

5. Reconsider Your Supply Chain: Consider reducing risks by finding a domestic supplier to slash the costs of freight and storage. 

6. Review Workforce Arrangements: Consider offering flexible work arrangements, nine-day fortnights, and training and development opportunities - particularly those subsidised by government. 

Improving Data Efficiency 

One key way to improve the efficiency of your business is to reconsider how it transfers data between employees, with customers, and with supply chain partners.  It’s a core process for every modern business, and that makes it a prime target for improving efficiency, productivity and cost saving. 

Many businesses are still relying on manual data transfers.  Employees attach files to emails or use ad-hoc cloud sharing platforms like Dropbox and the like.   

The time that’s wasted by these manual data transfers – by every employee, every day – adds up to significant levels of cumulative incremental headcount.  And then there’s the heightened risk of human errors, and exposure to cybercrime, through inadequate security on such transfers. 

More Efficient, Safer, Less Expensive 

A Managed File Transfer solution, such as GoAnywhere MFT is a more cost-effective approach to moving data within your business and supply chain.   

In fact, a study by Aberdeen Strategy & Research found that businesses which invested in a professional Managed File Transfer solution: 

• experienced 26% fewer issues with file transfers,  

• resolved problems 4.8 times faster, and 

• achieved a full return on investment in less than 12 months through elimination of the hidden costs of "free" or manual file transfer methods. 

Local Data Efficiency Experts  

Generic Systems Australia are your local experts in file transfer solutions.  If you’d like to discuss how MFT can help your business save money and become more secure and efficient, please feel welcome to get in touch with me.