MYOB INCITE Roadshow 2017

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Tomorrow, today

This event was predominantly for bookkeepers and accountants who use MYOB. The event opened with Gus Balbontin, former Executive Director of Lonely Planet. The theme of the event was ‘Tomorrow’. Gus spoke of how Lonely Planet had to adapt to the change of media and publishing from the ‘old media’ of papers and magazines to the ‘new media’ of the digital age where everything could be found at the click of a button. A reminder that if you do not move to meet what your customers want for tomorrow, then you will be left behind.

Customers buy holes, not drill bits.

The second part of the roadshow centred around add-ons and getting the most out of them. With a number of add-on exhibitors, this allowed me to re-acquaint myself with those I knew and those I had yet to meet. The event re-inforced the fact business needs are constantly changing. This includes accounting and financial management products. There are literally thousands of add-ons available and our business clients require us to be able to give them recommendations for these add-ons that will allow them to make informed decisions.

Leaders in Business

For this reason Foley Business Management invests time in understanding not only the needs of our clients, but the tools they require to make their businesses better to serve their clients. We are finding our services not only consulting to our clients, but to the providers of accounting and add-on software. Why? Because of our expertise in management accounting, we understand what is needed in software to make it a benefit to users. We are advising the makers of drill bits what the drill bit needs to be able to do and what it needs to do that serves the client.

  • Businesses need a hole.
  • Add-on providers make drill bits.
  • We advise Add-on providers what is needed to use a drill bit, such as a power drill, and how the client will use it, such as in hard wood or soft wood.

How we can assist you and your business or ‘make sense of your dollars’

Our purpose is to build sustainable communities. What we do is provide financial management solutions to small business, not for profit and social enterprise that allows their owners and board members make more informed decisions. We do this by providing bookkeeping, management accounting and consulting services, specialising in the Indigenous sector.

Your business is a valuable part of the community. You provide employment, spend money in the community, provide goods and services the community uses and needs. We want to assist you to do this better by allowing you to make more informed business decisions. Basically, we help to make sense of your dollars.

President Trumps 90 day ban is trade opportunity

90 Day Ban

The 90 day ban on immigrants and visitors to the USA from mainly Muslim states by President Trump creates an opportunity to strengthen business relationships. The banned countries are Iran, Iraq, Libya, Somalia, Sudan, Syria, and Yemen. Some countries are declaring already they may retaliate with counter policy. As a result trade will be impacted between the USA and these countries. The opportunities are two sided. Businesses wanting to trade with the banned countries have opportunities to improve relationships. Where the banned countries have strong marketplaces in the USA, it allows opportunities to improve US relationships.

Canada’s Gain

Countries like Australia can take advantage of this ban. While it doesn’t prevent trade, it will impede meetings and negotiations. Canada, I foresee, will be a winner out of this. Canada will become a meeting place being convenient for US company travel.

US Multinationals To Be Effected

The impact will be felt by multinational organisations working in these countries. Employees requiring day to day business visits for internal staff meetings will be effected. At this time they will not be able to enter the USA. Potentially USA employees may be banned from entry into the banned states. This creates an advantage to competitors of US multinational companies. The tension over the 90 day ban is palpable. Trade partners in countries with policies more hospitable to the banned countries may be preferred suppliers and clients.

Ban Temporary, But A Bird In The Hand

The ban is currently only 90 days and may not continue beyond the 90 day period. The temporary ban could be enough for President Trump to appease supporters of his election promises. Whether President Trump continues the ban is unknown, but this is a 90 day ‘bird in the hand’ window of opportunity for Australian businesses.