Day: March 14, 2020

We accept automation in our personal lives. So why are we so afraid of using it to optimize our companies?

4 min read

Opinions expressed by Entrepreneur contributors are their own.

Automation makes 21st century life possible. Siri and Alexa help us schedule our days, adjust our thermostats, lock our doors and turn off our lights. Our cars park themselves and remind us when another vehicle is in a blind spot. We accept automation in our personal lives, so why are we so afraid of using it to optimize our companies? In a word: control. Entrepreneurs don’t want to let go of the reins. They want to curate the customer experience themselves.The truth, though, is that automation doesn’t make a business less personable. In fact, paired with the human touch, it can provide a personalized experience from the first interaction. Here’s how to do it.

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Having initially brushed off the potential impact from coronavirus-linked claims, global are waking up to the prospect of a double whammy – a sharp rise in payouts at a time of big investment losses.

Because epidemics are excluded from many business policies, the early prognosis was for a low levels of claims.

But as recession threatens the global economy along with rising insolvencies, all sorts of companies with trade credit insurance, from airlines to retailers are coming under strain.

Meanwhile, insurers’ investments are coming under pressure.

They manage more than $20 trillion in assets globally but their big government bond holdings are becoming problematic as the threat of recession grows and central banks’ interest rate cuts have sent yields plunging.

Companies struggle to pay bills

The $11 billion trade credit market covers

In a move that is likely to make more expensive, Council today proposed a high in the Goods and Services Tax (GST) rates on and allied parts.

Addressing a press conference following the Council meet, Finance Minister Nirmala Sitharaman also brought the manufacture of matches to a common rate of 12 per cent across the board. Earlier, hand-made matches attracted 5 per cent, while machine-made ones attracted 18 per cent.

She also said interest for delayed payment will be charged on net tax liability, not gross tax liability, and would be effective July.

Sitharaman said all decisions taken at today’s GST Council meeting would come into effect on April 1.

Stating that a there were a host of technical glitches in GST administration, the minister said she was engaging with

High volatility in have delivered a double-whammy to jewellers, with consumers staying away amid the coronavirus spread and reduced discretionary spending. While jewellery sales have virtually come to a standstill, the advance tax payments they have made has also put them under pressure. Prices continued to fall today even as the inauspicious period is expected to last for the next 10 days. Demand is likely to improve only next month.

have begun reducing inventories to avoid additional cost of handling. As against the level of 35-45 days of stocks held earlier, they are building stocks for only 7–10 days to protect themselves from price volatility.

usually pay a lump sum as advance tax on presumption of sales during the January–March quarter and compensatory tax, if any, from the previous three quarters of the current fiscal. This year,