Pulse Alert – News Pulse for August 9, 2019

A daily download of SME, startup, fintech and tax news from around Australia.

CBA technology to advise customers whether to spend

Commonwealth Bank will begin advising the 5.6 million users of its banking app what they should do with their money, as digital banking shifts from facilitating transactions to providing personal, customised insights to customers based on data.

CBA said it will use artificial intelligence technology to advise customers whether a tax return should be saved, if they are entitled to claim a government subsidy, or if the costs of their automated digital subscriptions rise.

Global Talent visa made permanent

A trial visa program helping Australian tech companies attract skilled overseas workers has been made permanent by the federal government following a 12-month pilot.

The Global Talent-Employer Sponsored (GTES) program (formerly the Global Talent Scheme) has been made a permanent program by the federal government after 23 companies signed up to it during a trial in the last financial year.

‘They’ll order anything’: Menulog in it for the long-term in Australia

Food delivery platform Menulog believes there is still room to squeeze growth from Australian’s snacking habits, and despite small business concerns about food delivery platforms said the treatment of its restaurants is key to future growth.

“This has to be a partnership… it’s very easy to say that, but I don’t want to be in a situation where a restaurant owner is turning around to me and saying, ‘you have all the control’,” recently appointed Menulog managing director Ben Carter said.

SME cash flow risk can be avoided with proactive credit monitoring – here’s how 

It won’t come as a surprise to hear that inadequate cash flow is one of the main reasons why many small businesses in Australia fail, so for small businesses looking to get ahead, minimising the risk of bad debt should always be front of mind.

With over 97 per cent of the 2.2 million actively trading businesses in Australia being small businesses, owners are constantly placed in situations where new customers need to be assessed.

End of an era as MYOB chief quits

Longstanding chief executive of accounting software company MYOB Tim Reed has resigned, three months after the company left the ASX boards following an acquisition by private equity giant KKR.

Mr Reed’s departure marks the end of an eventful 12-year tenure as CEO, which has seen the company twice sold to private equity and also list on the Australian Securities Exchange.

MYOB to get a new boss

Accounting software maker MYOB boss Tim Reed is stepping down, with former Realestate.com.au CEO Greg Ellis set to take his place.

Mr Reed, who has had a 12-year stint as MYOB’s chief executive, is stepping down within months of the company being bought by private equity heavyweight Kohlberg Kravis Roberts (KKR).

MYOB’s chief tipped to take reins of Business Council

Corporate Australia may have breathed a sigh of relief when Bill ShortenHon Bill Shorten MP,  Federal Member for Maribyrnong Leader of the Opposition from 13.10.13 lost in May – the member for Maribyrnong spent much of his campaign ineffectually complaining about the “top end of town” – but the job of lobbying Canberra remains a work in progress.

As this column has noted on more than one occasion , the Business Council of Australia has been trying to find someone to replace president Grant King without success for some time.

The 10 most innovative technology companies

The AFR BOSS Most Innovative Companies list recognises the most innovative organisations in Australia and New Zealand, as judged by the expert panel assembled by The Australian Financial Review and Inventium . The assessment methodology is outlined here .

In 2019 the list has been split into 10 industry-specific categories. These are the top 10 innovations in the technology category.

Tips, comments or suggestions? Let me know in the comments, send me an email or tweet me @simeonduncan.


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