Tag: automation

It is almost impossible to keep up with the pace and direction in which business and technology are moving today. Artificial intelligence, automation, blockchain, big data, Internet of Things, the fourth industrial revolution. Who actually knows what any of these concepts mean for their business, much less how to integrate them?

From digital transformation through to the arrival of the Fourth Industrial Revolution (4IR), decision-makers are changing their views on how technology can benefit the organisation. But while much attention is placed on things like data analysis, the cloud, and automation, cyber security has fallen by the wayside.

The local contact centre industry is thriving and has seen substantial growth over the last four years, as South Africa became an enticing destination for offshore business. Concurrently, telcos across the world are seeking to improve their customer experience and reduce operating costs, largely due to disruptive business models, ever-increasing competition and the rising digital wave.

Victor Muguto | Long-term Insurance Leader | PwC Africa | mail me | Technology, cyber and change management risks have been pinpointed as the three...

Considering a career in accounting? With technological advancements and artificial intelligence reshaping the industry, the profession is no longer what it used to be. Budding accountants need to be adaptable and open to the changes in this ever-shifting landscape.

According to a report released in 2018 by the National Credit Regulator, of the 25 million ‘credit-active’ consumers in South Africa, a frightening 10 million were behind in their loan repayments.  Even the World Bank has deemed South Africa to be the most indebted country in the world.

Globally, the shift towards automation is being driven by the need to increase agility and provide customers with a greater sense of immediacy. In the South African context, particularly in the tough economic environment businesses currently find themselves in, these drivers are coupled with a greater need to retain customers and gain market share. After all, a great customer experience can lead to a substantial competitive advantage.

Big data is that buzzword that explains the growing volume of data encompassing every aspect of human life. It relates to the notion that almost every human action can be quantified and logged in a bank of data that is expanding at an unusual rate.

Despite its pivotal role in the 4th Industrial Revolution, the connectivity sphere is no different from any other business sector when it comes to profitability challenges. In the fast-moving and hyper-competitive economic environment of today, even the biggest players in ICT are under threat.

According to QuickBooks, there are already more than 700 apps that are assisting accountants to automate processes and reduce their workload. Gone are the days where accountants can be mere number crunchers, who collate and check data and allocate it to the correct cost centre. The future accountant will have transformed her/himself into a financial advisor, adding value to businesses by offering strategic advice, consulting and financial planning.