Why Are ETDs Important In Modern Finance

Exchange-traded derivatives, or ETDs, are financial agreements created by one or more parties, either people or companies. Through these agreements, the parties determine a fixed price for the terms of the present and future asset exchange.

Unique Advantages And Benefits

ETDs are one of the best derivative instruments on the market. They are excellent sources of liquidity for investors. Let’s explore some of the most prominent benefits: 

Protection Mechanisms 

Intermediaries control ETD agreements, ensuring that both parties honour their contract ends. These parties are unbiased and objective, enforcing order and compliance on both sides of the agreement. Therefore, these agreements have little to no counterparty risk. 

Standard Agreement Templates

All ETD agreements follow the same template, meaning the contracts are standardised across the board. While specific prices, periods, and contractual amounts can change, the nature of the contract is essentially uniform. Thus, investors will always know what they get from this agreement. 

Elevated Market Accessibility

ETDs are very liquid and tradable on the open market. Investors can easily find counterparties to make these deals as matching orders are abundant. Thus, these contracts can be obtained without sacrificing optimal prices. 

Closely Monitored By The Regulators

The ETD Industry is closely monitored, regulated and overseen by various government authorities across the globe. Thus, these instruments are relatively secure and free from fraud or other white-collar crimes. These highly reputable instruments are a great signal for investors, further increasing the liquidity metric. 

How Do ETDs Stack Up Against OTCs?

While OTCs and ETDs are pretty similar, they have several key differences. Over-the-counter contracts are less standardised, which gives investors more flexibility to construct custom contracts. However, they are mostly peer-to-peer agreements, which means that the two parties do not have the luxury of intermediaries monitoring the contract’s progress. Thus, OTCs are more freeform and flexible, but they are also riskier and less regulated overall. 

How To Trade ETFs – Best ETF Trading Strategies

Financial markets can be challenging in light of the variety of assets and trading instruments, and an investor may be tempted to purchase multiple securities to seize multiple opportunities and diversify their trading portfolios.

Exchange-traded funds are an excellent portfolio diversification option, allowing investors to buy and sell multiple assets together with a twist. ETFs are considered one of the safest trading methods in the market and a perfect choice for rookies who want to dip their toes in the seas of financial trading. 

Let’s dive deeper into this term and explain some of the best strategies to trade ETFs.

How Do ETFs Work?

Exchange-traded funds collect multiple trading instruments in one pool. These securities may include stocks, foreign currencies, bonds, crypto, etc. The prices of ETFs fluctuate according to the market price of products involved in the exchange fund.

ETFs are a safer trading option because they include multiple securities. If one product underperforms in the market, there is still some chance for other assets to perform better and make up the losses.

Significant financial corporations and institutions purchase massive quantities of securities and deposit them with the ETF provider, who, in exchange, provides shares of the exchange funds.

Then, the investment firm sells these shares in secondary markets for the outer public, where traders can purchase stakes in several ETF pools.

The Best ETF Trading Strategies

ETF trading requires proper planning, which may be slightly different from other instruments. Here are some excellent ETF trading strategies.

Swing Trading 

This strategy entails buying and selling assets depending on the trend fluctuations and benefiting from short-term gains. This can be helpful in ETF trading because it is easier to implement and less risky, given the higher stability provided by the ETF.

Long-term Holding

Buy and hold is a perfect strategy to use in conjunction with ETFs because it implies buying shares in the exchange fund pool and keeping them for an extended period of weeks or months. 

This strategy is supported by the risk-averse nature of ETFs and steady performances over the long run.

Rotation

Rotating between industries is more of an approach than a strategy. This is one way to diversify this portfolio diversification strategy further.

ETFs apply to multiple industries like commodities, cryptocurrencies, real estate, finance, etc. Therefore, a trader may buy shares from different industries, hoping that one market underperformance can be offset by another overperforming one.

Conclusion

Exchange-traded funds are asset pools where investors can buy shares and speculate on the price action of each security in its market. Therefore, take advantage of price stability since one ETF includes multiple assets rather than a single stock or product.

Excellence In Technology Recognised At Leaders Awards 2023

Frank Madden, Founder & CEO, Crest Solution has been named Tech Person of the Year at the 2023 Tech Industry Alliance Awards. The prestigious awards ceremony recognises individuals and organisations which are striving to drive innovative leadership, excellence and overall positive impact in our business ecosystem in the South-West. The event attracted over 120 nominations and entrants this year. 

Speaking about the Tech Industry Person of the Year Award, Gerry Murphy, Chairperson Tech Industry Alliance said: “For over 25 years, Frank Madden has been building an enormous success story with Crest Solutions, now known as Catalyx. His outstanding contributions to the field of manufacturing operations and technology innovation has transformed the landscape of the Life Sciences and high-end manufacturing industries. With an unwavering commitment to advancing technology in manufacturing, exceptional leadership, an ability to forge successful collaborations as well as being dedicated to helping the next generation of entrepreneurs in our region, Frank is a most deserving recipient of the Tech Person of the Year award” 

Other award winners at the black-tie gala Awards Ceremony Cloudera, CergenX, Everseen, Solarwinds and Skillbase. Cork ETB and Kerry ETB received the Chairperson’s award for their exceptional contribution to skills and talent development in the region. McEgan College which received the Excellence in Education Award were presented with a cheque for €5,000 to further promote STEM activities within their school.

Commenting at the event, Minister for Finance, Michael McGrath TD said:  “The Tech Industry Awards are a tribute to exceptional organisations and individuals within the South-West’s business and tech ecosystem. The extraordinary quality of finalists reflects the enormous capabilities, innovation and talent flourishing Cork and Kerry . I want to congratulate tonight’s winners but also all the finalists and nominated organisations who are dedicated to excelling and driving positive impact in the diverse markets and communities they operate. I also commend the Tech Industry Alliance for its invaluable role in fostering connections and nurturing a supportive environment, empowering companies to thrive, prosper and succeed both here and on a global stage” 

KerrySciTech Chairperson, Manjit Gill, also commented: “Since joining forces to become Tech Industry Alliance, our membership has gone from strength to strength and the businesses and organisations we serve are benefitting hugely from the knowledge sharing, connections and immense support that our combined network provides. The winners and finalists tonight are testament to this as they demonstrate the exceptionally high standard of excellence within the technology sector across Cork and Kerry which together are elevating the region’s status as a location of choice for companies, talent and investment”.

Full list of winners:

  • Tech Person of the Year Award -:  Frank Madden, Founder & CEO, Crest Solutions
  • Tech Start Up of the Year Award – CergenX 
  • Scale Up of the Year Award – Everseen
  • Multinational of the Year Award –Cloudera
  • Tech Industry Alliance  Skillnet Best Learning Workplace Winner – Solarwinds  
  • Smart Technology Innovation Award – Skillsbase  
  • Diversity, Inclusion and Social Impact Award – Cloudera
  • Chairperson’s Award – Kerry ETB & Cork ETB
  • Excellence in Education Award – McEgan College  

Sponsors for this year’s Leaders Awards include:  Tech Industry Alliance Skillnet, Trend Micro, KPMG, Enterprise Ireland,  Grant Thornton,  Barden, Deloitte, Cork Smart Gateway, Cork County Council, Cork City Council, MTU, REEdI, Fuzion Communications and Kinsale Spirit Company. 

For over 16 years, the Leaders Awards have recognised those who have excelled in the technology sector in the South-West region of Ireland, from notable multinationals and disruptive start-ups to ground-breaking individuals and emerging companies. Find out more on www.techindustryalliance.ie  

Information on Winners

Winner Smart Technology Innovation Award: Skillsbase  

Skillsbase is a solutions provider for companies with high-complexity problems, specialising in Mobile-first solutions using AI and AR. Skillsbase gave the judges a very compelling presentation about the company, the technologies they are using and have developed covering Artificial Intelligence, Augmented Reality, Cloud and mobile app, electronics, etc. And all done with a small team in Cork. 

Winner of the Start Up of the Year Award:  CergenX  CergenX leverages recent advances in AI to help identify newborns at risk of brain injury. The judges agreed that Cergenx is a truly world class startup with all the ingredients to deliver on their mission. A UCC Spin out after years of research in the INFANT Center led by Dr Geraldine Boylan, CergenX aims to use artificial intelligence to identify newborn infants that are most at risk of brain injury, a purpose that the 14 strong team in Cergenx are very passionate about. The panel were impressed with the strength and depth of the executive team who have founded, scaled and exited from previous startups, and will bring that experience into Cergenx.

Winner of the Excellence in Education Award:   McEgan College  

McEgan College is a co-educational school providing a broad curriculum to both girls and boys. The judges were truly impressed by McEgan’s whole school approach to the design, development and rollout of their ICT and digital strategy. Their student centric focus pivots their ICT Strategy, adapting to student needs and maximising resources. Their ambitious yet practical longer term ICT vision is tightly connected into and across the curriculum fostering a school culture of learning, development and innovation. 

Winner – Chairperson Award: Kerry ETB and Cork ETB

With the rapid pace at which skills needs for the tech sector evolves, the learning models that allow our tech companies to access skills and develop our people are essential for the sustainable growth of our industry. Our region’s Education and Training Boards, Kerry ETB and Cork ETB are not only committed to delivering innovative and high quality education and training programmes but they have also been hugely flexible and progressive in their engagement with our industry and our upskilling and reskilling needs. Their positive influence and impact on the region’s skills landscape is nothing short of remarkable. A warm congratulations to the entire ETB community across Cork and Kerry on being this year’s receipients of the Tech Industry Chairperson’s Award” 

Winner of the Tech Scale Up Award: Everseen 

Everseen is  a computer vision AI technology company trusted by over half of the world’s top 15 retailers. Everseen has already demonstrated its ability to scale, with consistent year-on-year revenue growth, expansive international client-base, highly scalable platform and roadmap, strong proven leadership team and the vision and, with a recent €65M funding round, have the resources to build an Irish HQed multinational.

Winner of the Diversity, Inclusion & Social Impact Award:  Cloudera  

Cloudera delivers an enterprise data cloud for any data, from the Edge to AI and advance digital transformation. Cloudera provided the judges with an impressive all round presentation, touching on all areas of diversity, inclusion and social impact.  The judges agreed that they live and breathe this category. 

Winner of the Best Learning Work Place Award: Solarwinds  Solarwinds is a leading provider of simple, powerful, secure observability and IT management software. This accolade is a testament to Solarwinds’ dedication to fostering a positive and innovative learning environment, setting an inspiring example for others in the industry. Solarwinds’ holistic learning initiatives, tailored training programs, and cutting-edge resources such as their mentoring platform and competency role mapping empower employees at every level to expand their skills and knowledge. Through a strategic combination of learning technologies and a supportive environment, they have not only enhanced individual career trajectories but also cultivated a collaborative workforce that encourages continuous growth and development aligned with inclusion, belonging and wellbeing.

Winner of the Environmental Sustainability Award: Logitech  

Logitech designs products that bring people together through gaming, video, digital content, work and learning. Logitech stood out for a few reasons but mainly for its consistent and mature approach to sustainability throughout the organisation and its supply chain. The efforts to reduce carbon and use of virgin materials in its production process is not new and have been underway for many years. The standards and accreditations they have pursued and achieved are remarkable, and the global impact of their efforts is also notable. 

Winner of the Multinational of the Year Award:   Cloudera  

Cloudera – a company that empowers people to transform complex data into clear and actionable insights. Cloudera has demonstrated strong commitment to the South West, growing by 205% in just 3 years, with solid plans to expand even further in the future. They demonstrate incredible investment into their people through mentorship, internship, internal promotion programs and Unplug days. Cloudera are leading the way in diversity with a 48:52 Female:Male ratio and 20 countries represented. Finally, their contribution to the local community is very impressive. Cloudera ESAT scores are very strong, and it is clear to see why.

Winner Tech Person of the Year Award : Frank Madden

Frank Madden unquestionably deserves the Tech Person of the Year award for his outstanding contributions to the field of Manufacturing Operations and technology innovation. With a rich background in electronic engineering, as well as a Post Graduate in Innovation and Design Thinking, he honed his skills and knowledge. Before founding Crest Solutions, Frank played a pivotal role in Apple Inc’s manufacturing operations in Ireland, showcasing his expertise on an international scale.

As the founder and CEO of Crest Solutions, Frank has consistently delivered multi-national and multi-site compliant projects that leverage cutting-edge technologies such as Machine Vision, Serialization, Industry 4.0, and Resourcing Solutions. His dedication to innovation has transformed the landscape of Life Sciences and high-end manufacturing. In 2020, Frank’s visionary leadership led to the formation of CXV Global Ltd, a groundbreaking collaboration with long-term partner companies, further expanding their global reach.  Growing strongly through the years NOW Catalyx, merging Crest Solutions with Xyntek, Vistalink, and Panacea Technologies, is on the road to a global Irish HQed multinational tech company.

Frank’s remarkable achievements have not gone unnoticed, as evidenced by numerous awards and accolades, including being a finalist in the Ernst and Young Entrepreneur of the Year Awards in 2015 and Crest Solutions winning both the Cork Chamber Large Company of the Year award and the Deloitte Best Managed Company award in 2020. Frank Madden’s unwavering commitment to advancing technology in manufacturing, his exceptional leadership, and his ability to forge successful collaborations make him a deserving recipient of the Tech Person of the Year award, solidifying his place as a true tech industry visionary.

Qualcomm announces $127M investment in cutting-edge R&D at Cork campus

Qualcomm Technologies, Inc. a wholly owned subsidiary of Qualcomm Incorporated, has announced a $127M expansion of its Research and Development facility in Cork City. The investment is expected to create more than 150 highly skilled engineering roles over the next four years.

This project, which is supported by the Irish Government through IDA Ireland, seeks to create and develop core new knowledge for a broad range of industries, significantly advance skills capability in its subsidiary, QT Technologies Ireland, and advance the skillset of QT Technologies Ireland’s R&D team.  This expansion of facilities will see hardware and software research teams co-locate in the Cork facility.

Minister for Enterprise Trade & Employment Simon Coveney TD said: “QT Technologies Ireland’s expansion at Penrose Dock is fantastic news for Cork. Up to 150 specialized jobs will be created over the next four years, and I understand recruitment is already underway for many of these engineering posts. These roles which will provide excellent opportunities for our talent pool to join a world-renowned tech company such as QT Technologies Ireland. At the heart of this project is digital transformation, bringing QT Technologies Ireland’s R&D, hardware and software teams together in Cork, and allowing for innovative and exciting new work to be undertaken. This announcement further highlights Ireland’s position as a global hub for the world’s leading tech companies, and I would like to thank Qualcomm Technologies for its continued investment in Ireland. I wish all the team every success with this new expansion.”

Qualcomm Technologies provides critical advanced semiconductor technology to mobile communications and other industry sectors. Headquartered in San Diego California, Qualcomm Technologies has had a presence in Cork since 2013, where QT Technologies Ireland already employs hundreds of people.

“We are excited about this investment in QT Technologies Ireland where we continue ground-breaking engineering work.” Said Ajay Bawale, SVP, Engineering, Qualcomm Technologies, Inc. “This project will introduce new highly specialized skills into Ireland and QT Technologies Ireland is currently recruiting engineers across several areas.”

“We are very proud that this project means the highly skilled teams in Cork will be addressing market challenges by enabling industries such as manufacturing, automotive, hyperscale computing, gaming, medical and education.” Said Paul Kelleher, VP Engineering, QT Technologies Ireland Limited. “Enabling Digital Transformation at every level. QT Technologies Ireland is a very exciting place to work, given our uniqueness in Ireland in developing the broad set of skills and capabilities required to execute on advanced process technology nodes.”

“Since 2013, the QT Technologies Ireland facility in Cork City has grown from strength to strength. This globally recognised company, in its sector, is now creating and developing critical leading-edge tech, in a regional location.” said CEO of IDA Ireland, Michael Lohan. “This latest investment increases the strategic functions managed by the leadership team at the Cork facility, significantly enhancing the South West of Ireland’s established tech cluster. I wish QT Technologies Ireland continued success and assure them of IDA Ireland’s continued partnership.”

To explore opportunities to join the team in Cork, visit  Careers (myworkdayjobs.com)

Sustainably crafted audio gifts from House of Marley this Christmas

House of Marley is an eco-conscious audio brand created in collaboration with Bob Marley’s family, taking the guilt out of tech purchases. The brand has some great options for music-loving loved ones, and are great for those looking to be more sustainable in their gifting this year! House of Marley crafts its products from mindfully sourced materials, including FSC certified wood, recyclable aluminium and the brand’s signature REWIND™ fabric.

Little Birds True Wireless Headphones – RRP £49.99

Available from: thehouseofmarley.co.uk, and Amazon

Crafted from bamboo and recycled plastics, these eco-friendly earbuds offer 6 hours of playtime, and up to 24 hours of listening with 3 additional charges with intuitive touch controls making music management swift and simple.

Stir it Up Lux Wireless Turntable – RRP £349.99

Available from: thehouseofmarley.co.uk, HMV and Amazon

A replaceable Audio-Technica 95E elliptical stylus and aluminium headshell, the Stir it Up Lux elevates your experience by way of improved sound quality and tracking ability.

Positive Vibration Frequency Headphones – RRP £99.99

Available from: thehouseofmarley.co.uk, HMV and Amazon

Experience convenience and uninterrupted listening pleasure with the Positive Vibration Frequency On-Ear Headphones. Offering a 34-hour playtime, these headphones enable you to enjoy your listening without needing to repeatedly recharge. In a hurry? Top up the battery with a 15-minute charge for 4 hours of music.

Get Together 2 Bluetooth Speaker – RRP £249.99

Available from: thehouseofmarley.co.uk, HMV and Amazon

Offering smooth acoustics and an impressive bass output, the latest addition to Marley’s line-up promises 15 hours of playtime – so you can enjoy your go-to playlists wherever you are. Featuring quick-charge technology, three EQ modes and a multipair setting, the Get Together 2 Mini speaker seamlessly connects to the entire Get Together 2 range for even bigger stereo sound. Built to withstand the elements, the Get Together 2 Mini speaker is water and dust-resistant, while upholding the classic bamboo accents House of Marley is known for.

Creative’s Christmas Gift Guide for the tech geek in your life

Over the years we have been using pretty much all of what Creative have to offer when it comes to tech and this Christmas perhaps you should check out the latest on offer from the company which we can certainly stand by and recommend this year for a gift for yourself or a loved one in the family. Gamers should take note of what the company has to offer too and there is a wide range of affordable products on offer this year and below is some of the deals they have to offer.

For the gamers

Zen Hybrid Pro SXFI (£134.99) Review soon

The launch of Creative Zen Hybrid Pro headphones marks the start of a new era in wireless audio, utilising LE Audio to deliver pristine audio quality, ultra-low latency streaming, and the versatility of multi-streaming for a truly elevated audio experience.

 

Extra features of the Zen Hybrid Pro SXFI include:

  • Bluetooth LE Audio

  • BT-L4 Bluetooth LE Audio SXFI Transmitter

  • Boom Mic

For the chilly, scenic walks

Outlier Free Pro+ (£119.99) – See our review

The Creative Outlier Free Pro+ features an IPX8 waterproof rating, allowing it to withstand all kinds of activities and weather, including swimming and rain. With a built-in 8GB MP3 player, enjoy your music without needing your phone or the internet.

 

The Outlier Free Pro+ also features:

  • Lightweight silicone

  • Titanium memory alloy

  • Adjustable transducers

Share the joy of Christmas music

Pebble V3 Artisan Edition (£54.99) See our Pebble V3 review

The Creative Pebble V3 Artisan Edition offers a fresh and inspiring initiative aimed at empowering the creative community through collaborations with talented local artists from around the world. With two designs from Lester Lim, a Singapore-based artist, the speakers talk volumes about his talent and dedication.

The Creative Artisan Edition is a unique commitment to empowering the creative community. By continuing to develop artist partnerships, Creative aims to transform everyday technology into limited-edition art pieces that will remain exclusive and not be restocked once sold out. We will have our review of these soon too.  Stay tuned.

 

Other features include:

  • 1.2m USB Type-C cable with a USB-A converter

  • 1.35mm molded cable connecting left and right speakers

  • Compatibility with both Windows and iOS

VPN for Business: Features and Benefits

People use the internet and look for privacy; thus, they find VPNs. It touches on individual cases. When it comes to business, the tools change.

Some strive to find the best vpn for iOS, Android, MacOS, Windows, and Linux for commercial usage. It uses the same fundamentals of privacy and security but scales them to the company level. More details are in the article below. 

What Is a VPN?

A Virtual private network provides safety and anonymity for online activities. The service connects you to the remote server and allows you to hide your IP address and encrypt your sensitive info.

It helps users stay anonymous on websites that impose geographical restrictions. It also protects information from interception if using a public network. 

That is what most users are used to in terms of individual usage. Business usage also aims to provide safety by keeping valuable information enclosed.

What Does a VPN for Business Do?

The components of a business VPN suggest the following:

  • Prevent unsanctioned access to data – the network connects computers to the system. If someone tries to access the information without knowing the password, they will fail. 
  • Encrypt data to make it unreadable to third parties – if someone tries to pass the data for personal profit, a VPN for business makes it impossible due to encryption. 
  • Make remote work efficient – remote employees connect to the network, have authorized access from their PCs, and do not need to go to the office. It opens up more opportunities for both company leaders and employees. 
  • Help comply with specific industry requirements – some industries, like healthcare or insurance, demand additional layers of security to keep information hidden. Business VPNs provide such features and facilitate data management. 
  • Simplify collaboration – if companies need to work together on projects or in long-term cooperation, a VPN helps manage and sort the data the other party has access to. Thus, you prevent information leaks, maintain high-level security, and keep the data well-managed. 
  • Grow according to how the business grows – VPNs for businesses tailor tools to the needs of particular companies and are usually scalable. So, when the business meets new challenges, a VPN service will meet the requirements. 

Details on how VPN providers deliver these features depend on the service. Legislation peculiarities may impact these details considerably. It is appropriate to look for a VPN provider that operates in your country and complies with local laws and regulations. 

Benefits of Using a VPN

Generally, the benefits that VPN services bring to business customers include the following: 

  • commercially valuable information is secure;
  • sensitive data remains protected;
  • VPN prevents malicious initiatives and attempts;
  • you do not need to implement additional protective tools in collaboration;
  • providing access to new remote employees is less risky;
  • remote work is faster and more efficient because people operate within the same network;
  • centralized control means simplified problem-solving;
  • more flexible work opportunities mean comfortable conditions that contribute to better productivity. 

VPN services for businesses make the working process faster, simpler, and safer – so, generally, better. It saves much time on management and, from a long-term perspective, shows better budget efficiency.

Final Thoughts

Businesses have more requirements for VPN services because their demand is higher. Companies must save their customers’ and employees’ data, manage enormous amounts of information about potential customers and business partners, and so on.

These tasks suggest creating an enclosed network that would protect against any external or internal attempts. VPNs for businesses can provide such features and additional security layers. 

Choosing a credible VPN provider for your business is a complicated task. Consider reputation, years of expertise, encryption, connection protocols, and other aspects. Explore and call for professional consultations for better selection.

Survey Reveals Irish SME Resources Overwhelmed by HR Requirements, Lack of Suitable Tech to Blame

Small and medium enterprises (SMEs) in Ireland & the UK feel that HR requirements are overwhelming vital resources, according to a survey commissioned by Meath-based HR tech company HR Duo.

In its survey of over 300 SMEs it was found that almost two-thirds (64%) say that trying to keep on top of all elements of HR in their business is extremely challenging. But despite the difficulties in the current business environment, just 10% say their HR function is likely to decrease in the next 12 months, with 45% predicting an increase. This is leading to a perfect storm, where HR requirements are continually increasing while a majority of SMEs feel that they are already overextended.

The survey identified that the lack of suitable HR technology for SMEs is central to their struggle to manage the HR workload. Three quarters (74%) feel that automation of manual tasks would be of major benefit to their business, with 66% saying that there are lots of paper processes in need of digitisation.

Yet roughly the same amount (67%) feel that addressing HR challenges is very different in SMEs compared to large organisations, meaning that existing options don’t address their needs. Indeed a majority (60%) of SMEs feel that HR tech platforms generally are geared towards the needs of larger companies, and adapting these to the needs of SME would be too onerous, with 70% believing they need a lot of expertise to set up and use effectively.

The result is time and resources wasted by SMEs in conducting routine HR tasks, which would be better utilised running and growing the business.

Jerome Forde, Founder and CEO of HR Duo, commented, “SMEs are the driving force of the Irish economy, employing 1.19 million people – roughly two-thirds of the total workforce – and generating almost half of the turnover in the private sector (source: ISME). But so much time and resources are being wasted on outdated manual tasks, meaning less opportunity to grow the business and hire new people.”

Unsurprisingly, two-thirds (64%) of SMEs said that increased productivity through better use of automation and tech is a priority for them over the next 12 months. Recent entrants to the market are making this more of a possibility for SMEs and challenging incumbent brands that prioritise larger organisations.

Jerome continued, “From speaking to SMEs around the country, it is clear that here is a huge need for a simple but innovative software solution that works for them straight out of the box – time is critical for them and they need a service tailored to their needs. With this in mind we developed HR Duo, a cloud-based platform that automates 80% of routine HR tasks, with the remaining 20% serviced by an expert team to help with more complex issues. unlocking capacity that can be better used in their business.”

HR Duo’s easy to use, low cost, and ‘always on’ proprietary software make it ideal for its target market of SMEs with 50-1,000 employees, acting as a bolt-on support to HR personnel, or indeed as a HR back-up for companies without a dedicated HR department. With subscriptions starting from as little as €10 per employee per month, the service can be scaled up or down as the business requires, with no lengthy, onerous contracts.

While HR tech solutions tailored to SMEs are now finally available, this does not mean they intent to reduce or eliminate HR capabilities. Indeed, feedback received during the survey revealed that SMEs don’t want a simple ‘set and forget’ solution – instead, there is a strong desire for a system to build institutional knowledge, with 85% wanting a HR platform that adds to their knowledge base. What SMEs desire is not a silver bullet, but a long-term partner in helping with their HR needs, freeing them up to build and scale their businesses into the future.

Survey Details

Research conducted by Heads Up Research & Insight (www.headsupinsight.com) throughout April 2023. Final survey response was 305 people who have influence in terms of HR decisions and/or resourcing the HR function in SMES between 30 and 500 employees in size. Maximum margin of error is +/- 6%.

Brits set to lose £800m to online shopping scams this festive season

Britons are being warned to stay alert this year with shopping scams expected to surge over the next two months during the festive season, which could cost the nation over £800 million. 

It comes as new research released today reveals that over 13 million Britons have been victim to an online shopping scam in the last year which has amounted to a loss of £1.4 billion. 

With over £800 million lost during the festive shopping season alone, cybersecurity experts are urging Brits to take measures to avoid losing cash to scammers as clothes, gifts and tech all top the list of popular scam buys. 

The research, conducted among 2,000 UK adults by Censuswide and commissioned by F-Secure, a global leader in cybersecurity, found that of those that had been scammed, those aged under 25 were hit the hardest financially, losing as much as £245 during the Christmas shopping period while two–fifths of 25-34 years old, more than any other age group, are most likely to fall victim to scam.

The research found the top 10 shopping scams are:

1. Fashion item 16%

2. Gifts 16%

3. Tech or IoT devices 15%

4. Beauty 13%

5. Food 13%

6. Sport gear 12%

7. Furniture or home dec 12%

8. Vehicles 12%

9. Travel 12%

10. Concert tickets / event tickets 11%

Further findings revealed men are slightly more likely to be scammed (28%) than women (21%).

The loss isn’t just hitting British pockets, the impact is also hitting the UK economy as the research revealed shopping scams are likely disproportionately affecting smaller retailers – which could force them out of business as more than half (56%) of Britons admit they now avoid shopping with small, independent online businesses, feeling more secure shopping with well-known brands.

However, the reality is that scams can occur with any sized retailer. Small independents accounted for 27% of the UK’s scams last year, only marginally more than large online platforms (such as Amazon and eBay) 23% and large retailers 21%. 

Tom Gaffney, F-Secure, said: “The next couple of months are the biggest shopping weeks of the year which we anticipate cybercriminals to try and take advantage of, particularly as the cost-of-living crisis may mean shoppers are looking for deals, but not necessarily safely. 

“We would urge everyone to be extra vigilant at this time of year and follow our tips before making any purchase online. Scams are becoming increasingly more difficult to spot but consumers can do very simple things to check they are safe when they’re shopping.”

With a quarter of online shoppers admitting they’re not confident they can spot a dodgy site, here are F-Secure’s top tips to stay safe when shopping online:

 

  • Use an online checker such as F-Secure’s ‘Online Shopping Checker’ to identify if a website is legitimate.

  • Always use a credit card where possible because you might stand a better chance of getting your money back with credit card cover.

  • If you’ve not heard of a site before, do your research, check social media and reviews – but be wary of too many five stars as fake reviews can be purchased.

  • If it’s too good to be true, it probably is. Legitimate stores tend to offer competitively priced offers. If you encounter an online store with exceptionally low prices, pay extra attention to other potential indications of a scam

F-Secure’s new Online Shopping Checker allows shoppers to test any online store’s URL to confirm its legitimacy. The free tool detects the reliability of the store and shows trust ratings before making a purchase. The same technology is included as ‘Trusted Shopping’ in F-Secure’s Browsing Protection: F-Secure Online Shopping Checker | F-Secure