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Cashback and Refund Bonuses are Standard in the iGaming Industry, but is There Such a Thing as Risk-Free Gambling?

Claire James
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Cashback and Refund Bonuses are Standard in the iGaming Industry, but is There Such a Thing as Risk-Free Gambling?

‘No-risk’ or ‘risk-free’ bonuses have grown in popularity recently and are now one of the most commonly offered welcome bonuses for players at online casinos, sportsbooks, and bingo sites. But what is a risk-free bonus, and is there such a thing as risk-free gambling?

A ‘risk-free’ bonus is most commonly a welcome bonus (although a gambling site can give it at any point in the consumer journey) that requires players to deposit and wager. Should the player make overall net losses during the expressed period of the deal, the operator will refund the net loss to the consumer as site credits, which they can use to bet with again. As the player cannot lose, the offer suggests there is no risk. The refunded bet or credit is not withdrawable and must be used on new wagers at the same site. While these types of promos are also called ‘cashback’ or ‘refund’ bonuses, they’ve become more popularised (especially in the US) as ‘risk-free’ bonuses. 

Let’s just run through a couple of examples:

  1. Play risk-free for your first 24 hours: This deal is typically found at online casinos and comes with an upper financial cap, between £100 and £1,000. Most terms and conditions will include wagering requirements.
  2. Score a £1,000 risk-free bet as a new player: This betting bonus is the sports version of the deal and guarantees a player’s first bet from losing. The first bet must be between the minimum and maximum thresholds, and the operator will refund the bet credit should the player lose. The bet credit is usually non-withdrawable, and there may be rules regarding the original bet, such as odds conditions.
  3. Get 10% cashback on monthly net losses: Moving away from welcome offers, this is promoted as an ongoing ‘risk-free’ cashback bonus for regular players. As an ongoing bonus, the refund amount is only 10% rather than the total amount, as seen with the above examples.

Whether the ‘risk-free’ bonus is a welcome bonus or an ongoing offer, it comes with time limits, financial caps, wagering requirements (or other withdrawal rules), and other terms and conditions. 

Taking note of these terms and conditions is vital because, for example two, the sportsbook’s bet bonus, some sportsbooks include bet conditions, such as the first bet must be used on markets with odds of +200. This, plus the fact that the offer only extends to the first bet, could encourage riskier consumer betting behaviour, with players laying larger or different bets to their original plan. 

Should the player’s first bet win, they will be well rewarded for potentially upping their bet amount. However, if it loses, the player will receive a single bet credit of the same amount back, binding them to a second large bet. Should the second bet win, the player will not receive the bet amount in payout, only the winnings, meaning the original bet amount was risked. 

Example one doesn’t tend to encourage the same level of risk-taking behaviour as example two, in that players can lay any level of bet and play multiple slot spins or game rounds. However, the refunded amount tends to come with wagering requirements, which means even if the player receives a refund and goes on to win, they’re still bound to spend more at the casino to cash out. Again, this encourages more risk-taking behaviour on the player’s part to access a withdrawal.

In the case of example three, ongoing offers, it’s clear this deal is not without risk either, as it only refunds a partial amount of the player’s money. There is also the fact that gambling is not a risk-free behaviour. Gambling is inherently risky; it’s why people do it, and while we hate to be cliche, as the saying goes: no risk = no reward.  

In the US, many states have legalised online gambling since 2018. Ohio is the latest state to join the fray, with sports betting going live on Jan 1st, 2023. Many operators in Ohio opened offering ‘risk-free’ bonuses, which has already led the Ohio Casino Control Commission to issue fines to BetMGM, DraftKings and Caesars. What was the issue? The wording ‘free’ or ‘risk-free’ on bonuses that require consumers to deposit and incur risk or loss to earn the bonus. 

The Ohio case makes it clear that this type of bonus is not risk-free from a regulatory stance and that by requiring the consumer to deposit and incur a loss, whether it is refunded or not, there is an inherent risk. Interestingly, a much lower-risk kind of bonus (as players can withdraw freely once the bonus is used) does exist – no wagering bonuses. 

Casinos and bingo sites with no wagering do not encourage excessive gambling to access or complete a bonus. Instead, consumers can claim the bonus, use it and then withdraw their money as they wish. While this type of bonus is not without risk (in most cases, consumers still need to deposit to claim the offer), neither is it marketed as a risk-free bonus, meaning the same issues do not apply. Above all, it’s a fairer and better type of bonus for players, as it does not bind players to wager large sums of money.

So, if these bonuses are not without risk, why are they labelled as risk-free? It’s a simple case of appealing (or misleading) advertising. The way gambling operators advertise promos has been a continued issue of regulatory concern for the UKGC, and more so lately (see the UKGC updated guidance for bonus terms and conditions). On subsequent occasions, the UKGC has called on operators to clear up their language regarding bonuses, ensuring the terms and conditions are clear and fair for consumers. Unlike in Ohio, the use of ‘risk-free’ terminology has not, thus far, caught the attention of the UKGC.

However, the UKGC has in the past called out VIP schemes and cashback offers as irresponsible (even threatening to ban them) as they target problem gamblers and incentivise losing, or as the Daily Mail puts it, after investigating Bet365, locking players into a cycle of betting. 

Gambling as an activity of betting real money on chance can never be risk-free. However, aside from remarketing this type of bonus to reflect better the fact that it does include risk, operators can also do more to ensure that gambling is as safe as possible. This includes flagging player accounts which show problem gambling indicators, ensuring they assess players who are making large deposits, and providing it’s affordable for the player, encouraging the use of safer gambling tools, like deposit limits and reality checks.

The Implications of the Energicon Holdings Decision for Offshore Companies Operating in the Cayman Islands

Claire James
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The Implications of the Energicon Holdings Decision for Offshore Companies Operating in the Cayman Islands

The Cayman Islands is known as one of the largest offshore financial centers in the world. Its legal system, based on common law, provides a stable and predictable environment for businesses and individuals seeking to establish themselves in the jurisdiction. The recent Energicon Holdings case is a significant development in the Cayman Islands’ legal environment and has major implications for offshore companies operating in the region.

In this case, the liquidators of Energicon Holdings sought the court’s sanction in respect of two share sales. The application was opposed by Tempest BVI, a majority shareholder and minority creditor, whose ultimate beneficial owner was an individual sanctioned under the EU Consolidated Financial Sanctions List. This made it unlikely that local counsel could be retained, and Tempest sought an adjournment of the application in writing and permission for its Russian attorney to appear remotely.

Justice Kawaley, a judge sitting in the Grand Court of the Cayman Islands, examined the opposition and considered that, if there was a good argument, the court could be empowered to grant procedural relief. Judge Kawaley dismissed the four substantive objections raised by Tempest: undervalued sale price, sale for the benefit of the liquidators and the purchaser, insufficient financial information and lack of due diligence. This decision by Judge Kawaley demonstrates his commitment to ensuring that the court acts fairly and impartially and that the rights of all parties are protected.

However, Tempest was unable to demonstrate that it would have a realistic prospect of persuading the court that the liquidators were unreasonable in making the decision to make the two share sales. Accordingly, the application for an adjournment was dismissed and the right of access to the court was upheld.

This case is significant because it highlights the complexities that can arise when dealing with sanctioned persons in the offshore financial centre of the Cayman Islands. It also focuses on the right of access to the court, which is at the very heart of the legal system and a crucial aspect of ensuring the protection of companies and individuals operating in the jurisdiction.

Access to courts is a fundamental aspect of any legal system and is considered a cornerstone of justice and the rule of law. The right of access to courts is enshrined in international human rights law and is considered a basic principle of due process. It is essential to ensure that individuals and businesses have the means seek reparation and have their grievances heard. It allows individuals and companies to have their legal rights and obligations determined by an impartial and independent tribunal, thus providing a fair and impartial resolution of disputes.

Fundamentally, the Energicon Holdings case is a significant development in the Cayman Islands’ legal environment and illustrates how imperative the provision of court access rights is to ensure the protection of companies and individuals operating in the Cayman Islands’ jurisdiction. It is a clear affirmation of the strength and stability of the legal system and its commitment to ensuring that businesses and individuals have access to justice and the rule of law.

Leadific Review – 7 Amazing Benefits for Small Businesses

Claire James
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Leadific Review – 7 Amazing Benefits for Small Businesses

We all know that small businesses have limited budgets and resources, which means they cannot use the enterprise CRMs like Hubspot or Salesforce. Most of these businesses fail to make the most of the biggest advantage small businesses can have over brands, which is to build strong relationships with customers on a personal level.

Leadific is a sales and customer relationship management software built with small businesses in mind. It solves some of the biggest problems a small business can face.

The only drawback with Leadific is that it can have quite the learning curve because it’s such a comprehensive tool. But while it will look overwhelming initially, it is made for ease of use. There are ready-to-use templates and workflows that you can use. You only need to spend a few days, and you will kill it.

Let’s read about the benefits Leadific has for small businesses.

Lack of sales resources: 

Small businesses have different sales resources than larger ones, making it difficult to generate leads or sales. They have limited staff, market data, research access, or budget for marketing initiatives. Leadific can work like a small sales team looking after lead generation, follow-ups to convert leads into clients, upsells, and more.

Lack of marketing budgets and knowhow: 

Marketing can be expensive, and small businesses often have limited budgets for marketing and advertising initiatives. Plus, they need help understanding the nitty-gritty of online marketing. Leadific comes with tutorials and templates that you can copy and use immediately. It is built with tried and tested strategies, and you can easily apply them without going through hours and hours of training videos. As soon as you sign in and get to the dashboard, things will make a lot of sense.

Lack of brand recognition: 

A small business usually doesn’t have the same brand recognition as a larger one, making it harder to generate sales and attract customers. They often think that they need huge advertising budgets to create brand awareness. In reality, it is much simpler. You need to target a small audience and then keep following up to ensure your brand stays on top of their minds. Again, Leadific will help you do exactly that.

Difficulty standing out from the competition: 

Small businesses often have to compete with larger firms for customers and sales. This can be difficult, as customers may be more familiar with and loyal to larger brands. Building personal relationships is the best way to beat bigger brands. Small businesses need to turn clients into their friends by sending personalized messages. 

It is important to know your customers and pay attention to their likes and dislikes. Customers will always prefer to do business with someone who can offer customized services or products. Leadific makes this customization much more straightforward. 

Lack of customer data: 

Without customer data, developing targeted marketing and sales strategies can be difficult. This data can be used to create buyer personas, understand customer needs and pain points, and develop targeted content and messages. Leadific gives you plenty of data and insights to help you make well-informed decisions.

Limited customer base: 

Small businesses often have a more limited customer base than larger businesses. This can make it difficult to generate enough sales to sustain the business. Thanks to Leadific landing page and sales funnel builders; you can set up a lead generation system for unlimited leads for your business. 

Cross-selling is another way to get more sales from a small customer base. This is when you sell another product or service to a customer who has already bought something. Businesses often use PPC marketing campaigns to reach customers who have already bought from them. Leadific lets you sell more to your customers without paying for every click or view.

Also, remember that Leadific will help you make the most of your limited customer base. It doesn’t matter if the sales come from new or repeat customers. Getting a repeat sale costs less than convincing someone new to buy from you.

Difficulty scaling: 

Small businesses may find it difficult to scale their operations as they grow. This can include hiring new employees, expanding into new markets, or increasing production. Leadific makes scaling so much easier. The membership plan comes with little or no limitations. You can add unlimited customers and create unlimited sales funnels without paying extra.

Leadific is great for digital marketing agencies because they can offer it as a value-added service. Or you can launch your own SaaS business because it can be white-labeled.

It doesn’t need a lot of selling. Remember that you are helping them solve some of their biggest problems, such as lead nurturing and sales. They will gladly pay for it if it brings them more customers and sales. 

Navigating conveyancing Transactions: A Guide to Working with Conveyancing Solicitors and Tax Lawyers

Claire James
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Navigating conveyancing Transactions: A Guide to Working with Conveyancing Solicitors and Tax Lawyers

Buying or selling conveyancing can be a complex and stressful process, involving legal and financial aspects that require expert knowledge and guidance. This is where conveyancing solicitors and tax lawyers can play a crucial role in helping you navigate conveyancing transactions. In this article, we’ll take a closer look at what these professionals do, and why they are essential in ensuring that your conveyancing transaction is successful.

What are conveyancing solicitors?

A conveyancing solicitor is a legal professional who specializes in conveyancing law. They provide legal guidance and support in various aspects of conveyancing transactions, including buying, selling, leasing, and developing conveyancing. Conveyancing solicitors work to protect their clients’ interests, ensure compliance with legal requirements, and help to avoid potential legal disputes.

You should always work with specialist conveyancing solicitors like AVRillo who offer conveyancing solicitor services in Essex, Enfield, and other areas in the UK.

When working with a conveyancing solicitor, they will typically take on the following tasks:

  1. Reviewing contracts and agreements: conveyancing solicitors can help to ensure that contracts and agreements are legally binding and that the terms are fair and reasonable.
  2. Conducting due diligence: conveyancing solicitors can investigate and evaluate the legal and financial status of a conveyancing to ensure that there are no legal disputes or financial liabilities that could affect the transaction.
  3. Coordinating with other parties: conveyancing solicitors can liaise with estate agents, mortgage lenders, and other parties involved in the transaction to ensure that everything runs smoothly.
  4. Drafting legal documents: conveyancing solicitors can draft legal documents such as sale contracts, leases, and other agreements.
  5. Representing clients in legal disputes: In the event of a legal dispute, conveyancing solicitors can represent their clients in court, arbitration, or mediation.

What are tax lawyers?

Tax lawyers are legal professionals who specialize in tax law. They provide advice and guidance on a range of tax-related issues, including conveyancing transactions. Tax lawyers can help you to navigate the complex tax laws and regulations that apply to conveyancing transactions, and can help you to minimize your tax liability.

You should always work with expert tax lawyers in the UK to get the maximum benefit.

When working with a tax lawyer, they will typically take on the following tasks:

  1. Advising on tax issues: Tax lawyers can advise on tax issues related to conveyancing transactions, such as capital gains tax, stamp duty, and other taxes.
  2. Structuring transactions: Tax lawyers can help to structure conveyancing transactions in a tax-efficient way, helping you to minimize your tax liability.
  3. Representing clients in disputes: In the event of a tax dispute, tax lawyers can represent their clients in court, arbitration, or mediation.

Why work with conveyancing solicitors and tax lawyers?

Working with conveyancing solicitors and tax lawyers is essential for a successful conveyancing transaction. Here are some of the reasons why:

  1. Legal expertise: conveyancing solicitors and tax lawyers have specialized knowledge and expertise in their respective fields. They can provide you with the legal guidance and support you need to ensure that your transaction is legally sound and compliant with relevant laws and regulations.
  2. Risk management: conveyancing transactions involve various risks, including legal disputes, financial liabilities, and tax issues. By working with conveyancing solicitors and tax lawyers, you can help to mitigate these risks and ensure that your transaction runs smoothly.
  3. Time-saving: conveyancing transactions can be time-consuming and stressful. By working with conveyancing solicitors and tax lawyers, you can save time and reduce stress by delegating legal and tax-related tasks to the experts.
  4. Cost-effective: While working with conveyancing solicitors and tax lawyers does involve additional costs, it can be cost-effective in the long run. By minimizing legal disputes, financial liabilities, and tax liabilities, you can save money and ensure a successful transaction.

Conclusion

In conclusion, working with conveyancing solicitors and tax lawyers is essential for navigating conveyancing transactions. They provide legal and tax-related expertise that can help you to ensure a successful conveyancing transaction for a secure financial future. 

Want to Send Money in 28 Currencies? Black Banx Offers this and more!

Claire James
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Want to Send Money in 28 Currencies? Black Banx Offers this and more!

Looking for an easy way to send money all over the world? Look no further than Black Banx! We offer a simple platform that allows you to send money in 28 currencies in 180 countries. Plus, we offer low fees and great customer service! Whether you are sending money to family or friends, or need to make a business transaction, Black Banx is here to help.

Our products offer full account transparency and value, which can be customized to each client’s unique needs. This gives them complete control over their assets. We adapt to requests from customers in various geographic markets, always striving to better fit the ever-changing business and personal banking requirements of both developed and developing countries.

Some of the key benefits that Black Banx are offering to their Private and Business clients worldwide:

  • Private and business Group accounts in 28 FIAT and 2 cryptocurrencies
  • International payments in 28 FIAT and 2 crypto currencies using local instant
  • Settlement system where possible (e.g. FPS, SEPA instant credit, etc.)
  • Inter platform instant payments in 28 FIAT and 2 crypto currencies
  • Multi Currency Debit Card (plastic and metal) + virtual cards
  • Real time 24/7 currency exchange services
  • Real time 24/7 crypto trading services
  • Interest bearing savings accounts in EURO, USD, GBP, JPY
  • Batch upload or API to execute large number of payments for business customers 

Clients who use our cryptocurrency services will be able to connect their Black Banx account with a Black Banx crypto wallet, giving them the ability to pay third parties directly from our platform instead of having to go through a middleman.

Who is Michael Gastauer?

Michael Gastauer is a German entrepreneur, billionaire founder, and group CEO of Black Banx. He specialize in financial technology and is considered one the most powerful people in FinTech globally. He is ranked among the top 100 most influential people in Financial Technology.

Michael Gastauer, originally from Germany, founded his first company at the young age of 24. In less than three years, the business acquired over US$1bn in assets and was sold for US$16m to a Swiss investment firm. In 2000, as one of the first in Europe, Gastauer created an online payment system that provided global card acceptance and payment processing solutions for eCommerce businesses and other industries seeing rapid growth online. Under Gastauer’s leadership, the business grew steadily and became profitable quickly, reaching a US$480m valuation before it was sold in 2008.

After successfully selling his second business, Michael Gastauer founded the Gastauer Family Office (GFO), a single family office with US$10 billion assets under management. The GFO has a venture capital arm that invests in cutting-edge FinTech companies. In addition to being the Founder and Chairman of GFO, Michael is also the head of Gastauer Foundation-a non profit organisation committed to providing financial inclusion globally and reducing the number of people without access to basic financial services (2.2 Billion).

What’s Next For Black Banx?

For our private clients, we have continued to make progress in executing our global payments and wealth strategy. We grew our net private client funds held on account by 110% from $4.2bn to $8.8bn between June 2021 and June 2022, with $1.75bn coming from Asia Pacific alone where we experienced a 112% increase in growth.

Within a twelve-month period, the total payment volume of our active private clients increased by 37%, going from $97.2bn to $133.5bn. This contribution coupled with continued asset management product offerings resulted in a 110% increase in private client balances, amounting to $8.8bn and revealing growing loyalty and trust from our clients.

How to Rock the Smart Casual Look for Men

Claire James
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How to Rock the Smart Casual Look for Men

When it comes to outfits for men, it is important to dress for the occasion. Many men invest in nice suits and even formal dinner suits for work and for special formal events. They also have casual clothes for going out with friends and family or for wearing at home. However, many want something that falls between these categories, and this is where the smart casual look really works.

The smart casual look is ideal for all sorts of occasions and outings where you don’t want to look dressed up to the nines, but you also do not want to look too casual and informal. It basically combines the smartness you would get with more formalwear with the informal vibes of a casual outfit, which means that you get the best of both worlds. In this article, we will look at some of the wardrobe additions that can help you to rock the smart casual look.

Smart Casual Additions for Your Wardrobe

Investing in the right clothing for your smart casual wardrobe means that you can create the ideal outfits by mixing and matching different options. Some of the staples to consider for your smart casual clothing collection are:

Smart Jeans or Chinos

If you want to combine smart and casual, a pair of smart jeans or chinos can help you to create the perfect look. It is a good idea to invest in a range of colours if you can, as this means that you can create the right contrasts when dressing in smart casual attire. It is best to wear contrasting separates to create the perfect look, so if you are wearing a dark top, go for lighter jeans or chinos and vice versa.

Selection of Polo Shirts

Some men decide to just go with a shirt without the tie and with the top button undone for a smart casual look. This is fine if you want to err on the more formal side of smart casual. However, if you want to go for a traditional smart casual look, polo shirts provide the ideal solution. You can choose from a variety of colours so that you have options to go with different pairs of jeans and chinos. You can also enjoy feeling more comfortable and relaxed when wearing a polo shirt.

Smart Blazer

To complete your smart casual look, a stylish tailored blazer is essential. This will give your outfit a smart overall finish while the rest of the outfit adds to the casual look of the outfit. You can choose from different materials so that you have blazer options that are suitable for all seasons. There are also many different colours and designs that you can choose from to cater to your individual tastes and preferences.

Get a Consultation to Create the Perfect Smart Casual Look

If you want to rock the perfect smart casual look, it is well worth arranging a consultation with fashion experts. This will help to ensure you invest in the right separates for your smart casual wardrobe so you can create the perfect outfit for any occasion.

Modern Home Appliances Every Household Needs

Claire James
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<strong data-src=Modern Home Appliances Every Household Needs" title="Modern Home Appliances Every Household Needs" />

In the digital age, home gadgets and electrical appliances have become a staple in households across the world! From bluetooth connected devices to tools that help simplify daily tasks, almost every family will admit to owning and using digital home appliances. 

With more new gadgets released every year, the latest craze is never too far round the corner, such as making your own household labels. Consumers are always quick to snap up the latest must-have gadget, helping to sell out popular brands in just some hours. Just look at the current air fryer hype, so many families and households have jumped on board this trend, selling out popular air fryer brands online and in stores! In this article, provided by wholesale, DK Wholesale, we will be discussing just some of the most popular home appliances every household needs. 

Air Fryers 

As previously mentioned, air fryers have become an incredibly popular domestic appliance in recent years. Providing an alternative method of cooking that is not only healthier, easier, and enjoyable, but also a great way to save energy. Great for families, couples, busy professionals and more, air fryers are practical and make cooking fun for everyone. With various functions and styles, air fryers have advanced exceptionally, now offering a low fat cooking method for such a wide range of foods and meals. 

Juicers and Blenders

Juicers and blenders have certainly become a popular domestic appliance with those who enjoy making quick and easy smoothies and juices. Perfect for getting your 5 a day in one drink, juicers and blenders can make any morning routine so easy! With juicers capable of juicing all types of fruits and vegetables, whilst also discarding the pulp and seeds families can enjoy fresh and healthy fruit juices in a matter of minutes. While not only will blenders make great fruit smoothies, they can also be used to blend cooked vegetables for soups, purees and more. 

Coffee Machines

For those who can’t go without a cup of coffee every morning, a coffee machine is an absolute must-have gadget. With so many on the market to choose from, coffee lovers now have a wide range of options when it comes to finding a coffee machine to suit their taste. Plus, with a choice of flavours, syrups, and additional gadgets like coffee bean grinders and milk frothers, it’s never been easier to create barista style cappuccinos, lattes, espressos and more. 

Food Processors 

Food processors are the perfect kitchen gadget for helping speed up the food preparation and cooking process. Saving time in the kitchen by assisting in the chopping of foods such as fruits and vegetables, as well as combining ingredients ready for cooking, a food processor is the ultimate must-have kitchen gadget for busy families and couples who want to continue to cook healthy, nutritious meals without spending hours preparing ingredients. 

Sandwich toaster 

For those who have always craved the perfect sandwiches and toasties, a sandwich toaster is a great gadget to have handy in the house. The ideal machine for creating a tasty snack, lunch or quick meal before running out the door. Sandwich toasters and grills are both practical but also compact, meaning they can be kept in a deep kitchen drawer or kitchen cabinet when not in use. Panini makers and sandwich toasters work with all kinds of ingredients means just about anyone will enjoy using them. 

Maximizing Cash Management Efficiency through Technology and Automation

Claire James
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Maximizing Cash Management Efficiency through Technology and Automation

Business cash management is the process of effectively managing a business’s cash inflows and outflows to maximize the availability of cash and minimize financial risk. It involves forecasting future cash needs, managing short-term and long-term cash requirements, and investing idle cash to generate a return. In this blog post, we will explore the importance of effective cash management and the role that technology and automation play in maximizing cash management for businesses.

Definition of Business Cash Management

Business cash management is the process of managing a company’s financial resources to ensure that it has the necessary cash on hand to meet its obligations and make investments. This includes forecasting cash needs, managing short-term and long-term cash requirements, and investing idle cash to generate a return.

Importance of Effective Cash Management for Businesses

Effective cash management is critical for the success and growth of a business. Without adequate cash on hand, businesses can struggle to meet their obligations and make investments, leading to financial stress and reduced competitiveness. On the other hand, effective cash management allows businesses to maintain financial stability and seize opportunities for growth and expansion.

Understanding Business Cash Management

In order to effectively manage cash, it is important for business owners to understand the basics of cash management, including cash inflows and outflows, the importance of forecasting future cash needs, and managing short-term and long-term cash requirements.

Cash Inflows and Outflows

Cash inflows refer to the money that comes into a business, such as revenue from sales, interest income, and loan proceeds. Cash outflows refer to the money that goes out of a business, such as operating expenses, loan payments, and investment outlays.

Importance of Forecasting Future Cash Needs

Forecasting future cash needs involves estimating future cash inflows and outflows to ensure that the business has enough cash on hand to meet its obligations and make investments. This requires an understanding of the business’s operating cycle, as well as an analysis of future sales, expenses, and investments.

Managing Short-term and Long-term Cash Needs

In addition to forecasting future cash needs, it is also important for businesses to manage their short-term and long-term cash requirements. Short-term cash needs refer to immediate cash requirements, such as paying bills and salaries, while long-term cash needs refer to future cash requirements, such as funding growth and expansion.

Maximizing Business Cash Management with Technology and Automation

The use of technology and automation can significantly enhance the effectiveness of cash management for businesses. From increased accuracy and efficiency to real-time data access and improved forecasting capabilities, technology and automation offer a range of benefits for businesses looking to maximize their cash management.

Benefits of Technology and Automation in Cash Management

Increased Accuracy and Efficiency

One of the biggest benefits of technology and automation in cash management is the increased accuracy and efficiency they provide. Automated systems can help eliminate manual errors, ensuring that financial data is accurate and up-to-date, while also reducing the time and resources required to manage cash.

Real-Time Data Access

Another key benefit of technology and automation in cash management is real-time data access. With real-time data access, business owners can easily monitor their cash flow and make informed decisions to maximize cash management.

Improved Forecasting Capabilities

Technology and automation also offer improved forecasting capabilities, allowing businesses to make more accurate predictions about future cash needs and requirements. With advanced forecasting tools, businesses can make informed decisions about investments, spending, and other financial activities to maximize their cash management.

Types of Technology and Automation Used in Business Cash Management

There are a variety of technology and automation tools that businesses can use to maximize their cash management. Some of the most commonly used tools include:

Accounting and Financial Management Software

Accounting and financial management software is designed to help businesses manage their financial operations, including cash management. With features such as real-time financial reporting, automated bank reconciliation, and budgeting and forecasting tools, accounting and financial management software can significantly enhance cash management for businesses.

Cash Management Systems

Cash management systems are specifically designed to manage a business’s cash inflows and outflows. These systems offer a range of features, including real-time cash visibility, cash forecasting, and investment management, to help businesses maximize their cash management.

Online Banking and Payment Processing Solutions

Online banking and payment processing solutions offer businesses a convenient and efficient way to manage their cash. With features such as online bill payment, electronic funds transfer (EFT), and automated reconciliation, these solutions can help businesses streamline their cash management processes and reduce the time and resources required to manage cash.

Considerations for Implementing Technology and Automation in Cash Management

While technology and automation can greatly enhance the effectiveness of cash management for businesses, there are also some considerations to keep in mind when implementing these solutions. These include:

Cost

One of the biggest considerations for businesses when implementing technology and automation in cash management is the cost. While these solutions can offer significant benefits, they can also be expensive to implement and maintain.

Technical Expertise

Another consideration for businesses is the level of technical expertise required to effectively implement and use technology and automation solutions. Businesses may need to invest in training or hire additional staff to effectively manage these solutions.

Integration with Existing Systems

Finally, businesses must consider how technology and automation solutions will integrate with their existing systems. This includes ensuring that data is accurately transferred between systems and that systems are able to communicate with one another.

Effective cash management is critical for the success and growth of a business, and technology and automation can greatly enhance the effectiveness of cash management for businesses. 

With increased accuracy and efficiency, real-time data access, and improved forecasting capabilities, technology and automation offer a range of benefits for businesses looking to maximize their cash management. However, businesses must also consider the cost, technical expertise, and integration with existing systems when implementing these solutions. By carefully evaluating the benefits and considerations of technology and automation in cash management, businesses can make informed decisions to maximize their cash management and achieve their financial goals.

Inflation here to stay: Where should you invest?

ABC Staff
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Inflation here to stay: Where should you invest?

Inflation is cooling gradually but remains stubbornly high in most major developed economies, including the UK and U.S., despite the efforts of central banks.

This week, official data shows that U.S. Consumer Price Inflation – CPI – is 6.4%, slightly higher than was expected, but down from a 40-year high of 9.1% in June 2022.  On Wednesday, the UK inflation rate was revealed to have fallen for the third month in a row in January to hit 10.1%, below economists’ expectations, but still five times higher than the Bank of England’s target.

Markets are now betting on a longer period of higher interest rates as they begin to take heed of the message from central bank officials, including those from the U.S. Federal Reserve, Bank of England and European Central Bank, that there’s still a way to go to cool inflation in the face of robust labour markets and wage growth.

Continuing hot inflation, agree experts, can impact an individual’s investments, leaving investors asking: where do I invest in an ongoing high inflation environment?

“Stubborn inflation affects stock markets because central banks, including the Fed, BoE and ECB, will have to continue to step in and raise interest rates. This means people adjust and rein-in their spending, it cools the economy and companies can struggle to make profits,” says Nigel Green, CEO of deVere Group, one of the world’s largest independent financial advisory, asset management and fintech organisations.

He continues: “Stock markets are correlated to the profits of the companies within that particular index.

“In this environment of higher rates for longer than had previously been anticipated, some companies are going to find it difficult to maintain margin and, as we’re now seeing, are failing to report earnings as had been expected. 

“In other words, if costs are going up firms can’t maintain margin, so that company is unlikely to be a good investment until things change.”

The deVere Group CEO identifies four key sectors that he expects to be “resilient in this current environment.”

He explains: “We’re looking at sectors that can maintain margin, despite inflation and interest rate hikes. 

“These include healthcare, luxury goods, energy and agriculture.

“Healthcare is a robust sector as people will always need to stay healthy – this has come into focus more than ever since the pandemic. Also, despite wider market volatility, there’s strong earnings potential due to ageing populations and other demographic changes. Plus, healthcare is becoming increasingly tech-driven, which offers fresh opportunities.”

He goes on to say: “Luxury goods can maintain margin due to the inherent aspirational ‘elite and exclusive’ aspect of the sector. 

“We’ll look at energy because there’s a shortage of energy in the world right now.

“Agriculture is another one as populations in emerging markets around the world are eating more meat. As they eat more meat, there needs to be more grain produced.”

In this, and all environments, there remains one clear way for investors to maximise returns relative to risk: the time-honoured practice of portfolio diversification. A considered mix of asset classes, sectors, regions and currencies offers you protection from shocks. 

A good fund manager will help you sidestep potential risks and benefit from key opportunities.

“Inflation is going to be an issue for investors for a while yet,” concludes Nigel Green.

“However, these can also be times of opportunity if you stay fully and wisely invested.”

REVEALED: Auditing is the most in demand finance career in the UK right now according to research

ABC Staff
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REVEALED: Auditing is the most in demand finance career in the UK right now according to research

These are the most in demand finance jobs in the world right now according to new research.

  • Auditing is the most in demand finance career right now
  • Accounting is the most desirable financial sector to work in

A new study from CMC Markets, an online trading platform, analysed monthly Google searches using Ahrefs for jobs within the financial industry to see which career is the most in demand. They also extracted the number of UK-based listings for each finance role from the job site Indeed during the month of December 2022.

RankJob TitleTotal global Google
searches
1Auditor222,500
2Actuary166,600
3Corporate banking96,280
4Bank teller43,250
5Forensic accounting39,650
6Compliance officer35,170
7Client advisor29,080
8Loan Officer22,950
9Branch manager18,560
10Risk manager17,430

Searches for ‘auditor’ ranked number one on the list with 222,500 monthly Google searches. People are searching 5,000 times on average a month for ‘auditor jobs’ and 500 times for ‘auditor careers’. There are currently 785 auditor jobs in the finance sector on Indeed.

Actuarial careers came closely behind as the second most sought-after job in finance with a combined 166,600 searches per month for ‘actuary careers’ and ‘actuary jobs’. An actuary was the only career within the insurance sector to make it into the top ten. There are currently 1,030 actuary jobs within the finance sector on Indeed.

The third most desirable finance career is corporate banking which amassed a total of 96,280 Google searches per month, 1,200 of which were for the search term ‘corporate banking jobs’. There are currently 3,748 corporate banking jobs on Indeed.

Another banking career took the fourth spot with bank teller totalling 43,250 Google searches every month, 12,000 of these monthly searches were for ‘bank teller jobs’. At present, there are only 35 bank teller jobs on Indeed.

In fifth place came forensic accounting with 39,650 Google searches per month and the sixth most in demand career in finance was a compliance officer with 35,170 monthly Google searches.

Despite being one of the ten most desirable finance jobs, forensic accounting only yields 64 job openings in the UK, according to Indeed. On the other hand, there are currently 6,685 compliance officer openings in the UK on Indeed.

With 29,080 Google searches a month, a client advisor was the seventh most searched for finance career and there are 811 job openings for client advisor roles on Indeed.

Loan officers and branch managers occupied the eighth and ninth place on the list with 22,950 and 18,560 monthly Google searches respectively. There are 1,744 roles on Indeed for both loan officers and branch managers in the UK.The research found that the tenth most in demand job in finance is a risk manager with 17,430 monthly Google searches. There are currently 5,259 job openings on Indeed for risk manager roles in the UK.Michael Hewson, chief market analyst at CMC Markets commented on the findings: “Despite the scarcity of jobs in some industries, it seems that there is a noticeable interest within different sectors of the finance world.

“It is interesting to see that a large proportion of this number is made up of searches related to the banking sector. And as a whole, financial careers are being searched for 2,935,840 times per month on Google.

“This number is definitely something to keep an eye on as we approach the new year, as people may look to seek new opportunities in 2023.”

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