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5 Ways SAP Can Transform Your Business

The business world is continuously changing — forcing companies to adapt and innovate. To stay ahead of the curve, businesses must not only have the latest technology, but also know how to use and implement it efficiently. Enterprise Resource Planning (ERP) solutions — such as System Analysis and Software Development (SAP) — provide a centralised platform for streamlining procedures, analysing data, and optimising operations.

Whether you’re looking to improve performance, expand into new markets, or enhance customer experiences, SAP can revolutionise and transform your business’s operations. Let us tell you about the five ways SAP can bring about positive changes in your organisation.

Why Building Your SAP Dream Team Matters First

By prioritising the recruitment of skilled SAP talent, you lay the groundwork for a smooth implementation and unlock the true power of SAP for your business. It’s the investment in your people that sets the stage for a successful and transformative journey.

To truly unleash the potential of your dream team, consider partnering with a specialised SAP recruitment agency. They can leverage their expertise to identify qualified candidates and streamline the hiring process. While generic recruiters might cast a wider net, specialist SAP recruiters offer a distinct advantage. Their deep understanding of the SAP landscape allows them to identify qualified candidates with the specific skill sets and certifications required for your unique needs.

Specialist recruiters, such as Eursap, differentiate themselves from their competitors by offering “experience, tools and resources, a proven track record, competitive prices and 100% SAP-focused specialism”.

Additionally, specialist recruiters often have established relationships with top SAP professionals, giving you access to a talent pool that might not actively be searching job boards.

In the next section, we’ll delve into the exciting ways SAP can revolutionise your operations, with your dream team at the wheel.

5 Ways SAP Can Take Your Business to the Next Level

1.     Boosting Productivity

SAP’s selling point is built around its capacity to improve operational efficiency and productivity within an organisation. SAP provides smarter, faster decision-making by essentially breaking down boundaries and integrating fundamental business processes, from supply chain management to customer relations. This connectivity is enhanced by SAP’s powerful analytics and machine learning capabilities which automate complicated processes and deliver actionable insights, allowing organisations to respond swiftly to market changes. The resulting operational adaptability enables businesses to sustain high productivity levels  — even under volatile market conditions.

2.     Reducing Costs

SAP’s influence on a company’s cost structure is layered; by automating common processes, the system lowers labour costs and avoids errors which can result in costly fixes. Moreover, SAP provides real-time visibility into financial and operational information, allowing for proactive cost control and optimisation. Businesses can monitor their spending habits, inventory levels, and supply chain efficiencies in real time – allowing them to make cost-cutting modifications without sacrificing quality or customer satisfaction. This highly strategic approach to cost management is a game-changer, providing a leaner and more efficient operational model.

3.     Increasing Sales and Revenue

Leveraging SAP for sales and revenue growth involves making use of its powerful CRM capabilities and data analytics to strengthen client connections and generate new revenue streams. SAP enables businesses to customise their goods and marketing tactics to fit the specific needs and preferences of their target audience, increasing customer engagement and loyalty. In essence, SAP provides a single source of truth for customer data, ensuring that sales teams have the information they need to nurture leads effectively and close deals more efficiently. Furthermore, the ability to analyse market trends and customer behaviour patterns using SAP analytics tools supports strategic decision-making, allowing organisations to find and capitalise on new revenue opportunities.

4.     Improving Customer Service

SAP has had a significant impact on the development of customer service. Its integrated platform offers an in-depth view of the client’s experience, allowing for personalised and consistent interactions across all interactions. This level of personalisation and responsiveness not only improves the customer experience, but it also fosters trust and loyalty, which are essential in the highly competitive economy of today. Furthermore, SAP’s ability to use data analytics for predictive customer service allows it to handle anticipated difficulties ahead of time, setting new customer satisfaction benchmarks.

5.     Gaining a Competitive Advantage

The synergistic combination of enhanced efficiency, cost reductions, increased sales, and superior customer service gives SAP-using enterprises a significant competitive advantage. This advantage is strengthened by SAP’s scalability and flexibility, which promote strategic expansion and allow organisations to respond swiftly to market changes. Companies that use SAP may not only optimise their current operations, but also strategically innovate to explore new markets and business models, assuring long-term success and market dominance.

Comparing Commercial Credit Insurance: Top Picks for 2024

Commercial Credit Insurance

Commercial credit insurance plays a pivotal role in safeguarding businesses against potential financial risks. In 2024, the importance of this insurance cannot be overstated, as economic uncertainties and market fluctuations continue to pose challenges to businesses worldwide. Therefore, it is crucial for businesses to carefully evaluate their options and select the most suitable commercial credit insurance policy to protect their financial interests.

For expert advice on finding the best policy and tailoring coverage to your business’s needs, consult with Rowlands & Hames. They can help you navigate the complexities of commercial credit insurance and ensure you have the right protection in place.

Understanding Commercial Credit Insurance

Commercial credit insurance, also known as trade credit insurance, is a type of insurance policy that protects businesses from losses arising due to non-payment of trade debts. It typically covers losses resulting from insolvency, protracted default, or political events that prevent payment by the buyer. When comparing commercial credit insurance, it’s crucial to understand your business’s specific risks and choose a policy that provides comprehensive coverage.

This type of insurance can be a game-changer for businesses that operate on credit terms, offering a safety net against financial uncertainties. To ensure you have the best policy for your business, consult with Rowlands & Hames for expert advice on commercial credit insurance.

Key Factors to Consider

  • Coverage Limits: Businesses need to assess their exposure to credit risk and determine the appropriate coverage limits to protect their interests adequately.
  • Exclusions: It is essential to understand the exclusions of the policy to avoid any surprises during a claim. Common exclusions include losses due to fraud, contractual disputes, or pre-existing conditions.
  • Policy Terms: Examining the length, renewal options, and conditions of policies is crucial to ensure that the policy meets the business’s needs and can be adjusted as necessary.

Top Picks for Commercial Credit Insurance in 2024

  • Comparison of Coverage: Different insurance providers offer varying levels of coverage. Comparing coverage limits and exclusions can help businesses select a policy that best suits their needs.
  • Strengths and Weaknesses: Each provider has its strengths and weaknesses. Some may offer competitive rates but have stricter policy terms, while others may provide more flexibility but at a higher cost.

Expert Insights on Selecting the Right Insurance

Industry experts recommend that businesses look beyond cost and coverage when selecting commercial credit insurance. Factors such as the insurer’s financial stability, claims processing reputation, and customer service should also be considered.

Claims Process for Commercial Credit Insurance

Understanding the claims process is essential for businesses. Knowing how to file a claim and what to expect during the process can help expedite the settlement of claims and minimize disruptions to cash flow.

If you need guidance on the claims process or have questions about filing a claim, Rowlands & Hames can offer expert advice and support to ensure a smooth and efficient experience.

Cost Considerations

The cost of commercial credit insurance can vary depending on various factors such as the level of coverage, the business’s industry, and its creditworthiness. Businesses should explore ways to manage and reduce insurance costs while ensuring adequate coverage.

Regulatory Compliance

Compliance with financial laws and regulations is paramount for businesses. Comparing Commercial Credit Insurance policies can help businesses comply with these regulations by providing financial protection against potential losses.

By choosing the right policy, companies can meet legal requirements and reduce the risk of financial setbacks due to non-payment, ensuring a smoother path toward regulatory compliance.

Future Trends in Commercial Credit Insurance

Emerging trends in commercial credit insurance, such as the use of technology to streamline processes and assess risks more effectively, are expected to shape the industry in 2024. Businesses should stay informed about these trends to make informed decisions about their insurance needs.

For expert insights on how these trends might impact your credit insurance coverage and to ensure you’re up to date with the latest developments, consult with Rowlands & Hames. They can guide you through the evolving landscape and help you choose the best insurance policy for your business.


Commercial credit insurance is vital for businesses to protect their finances in an uncertain economic environment. By comparing different options, understanding key factors, and seeking expert advice, businesses can select the right insurance policy to secure their financial future.

For personalized guidance on choosing the best commercial credit insurance, Contact Rowlands & Hames at 01253 627181 to speak with their insurance experts.

The Importance of Password Security Within a Business

The Importance of Password Security Within a Business

Using secure passwords help protect important business information.  Your data is valuable and a target for cyber criminals.  It is essential you protect your business and this simple guide will show you how and why you should implement this. 

Here are 5 easy ways to correctly implement passwords to protect your business data:

1. Activate the password protection setting

There are several layers of password protection available. These include screen locking and PIN codes, face or fingerprint ID.  Your business should not have any devices that can you access without the need for some sort of password or verification.  Most modern devices have encryption built in, but encryption may still need to be turned on and configured, so check you have set it up.

2. Multi-level verification

Use a second level of security, MFA (multi-factor authentication) provides that. On top of a password, you get a code sent to your phone as a text message that is required to access your data or file.  So should anyone find out a password or it is easily guessed, it doesn’t mean they can automatically access a device.

3. Don’t be predictable

As part of your IT policy, offer guidance to staff for setting passwords that are more difficult to crack. Avoid defaulting to the same one or two passwords for ease of remembering.  The NCSC has some useful advice on how to choose a non-predictable password.

4. Use a password manager so you don’t have to remember them all!

Apps such as PassPortal can manage and store all your passwords safely and securely. Accessed by a master password, this is obviously the one to make sure that it is not predictable or previously well used.  This kind of app will use MFA and help generate very complex passwords, however it will mean you don’t have to remember lot of different passwords.

5. Change up the default passwords

There might be a default password on your device put there by the manufacturer. This should be replaced straight away, especially before the device goes to one of your employees. As part of your IT policy, you can put in place a reminder to routinely check devices for default passwords that have been left unchanged, this includes printers, routers, wifi and CCTV devices. They often get forgotten.

Using secure passwords is just one part of ensuring that your business is cyber secure.  Most businesses, large or small, will be targeted at some point by cyber criminals.  So its best to be proactive rather than reactive when it comes to cyber security within a business.

A good starting point to ensure your business is cyber secure would be to conduct a full cyber security health check across an IT network and all of its devices.  Using a specialised business IT support company that can deploy cyber security measures and help train your staff would ensure you mitigate your cyber risks.

Scotland Leads the UK Property Market in House Sales

UK Property Market

In the fast-paced world of real estate, Scotland stands out as a prime example of efficiency and speed in the UK property market. Home sellers in Scotland are currently experiencing rapid sales, with properties finding buyers in an astonishingly short time compared to other regions. This swift turnover is a stark contrast to the slower pace observed in other parts of Great Britain, particularly Wales and some English counties.

Scotland: A Market of Speed and Efficiency

The town of Carluke in Scotland is setting records as Great Britain’s fastest-selling property market. Here, sellers are typically finding buyers in a mere 24 days. Following closely are Falkirk and Larbert, where homes are snapped up in about 26 and 27 days, respectively. Overall, Scotland maintains an average selling time of just 43 days, demonstrating its lead in the UK’s property sales pace.

Comparative Market Dynamics

While Scotland excels, Wales has recently overtaken London as the slowest region to find property buyers this year. On average, it takes about 82 days to secure a buyer in Wales. This significant disparity highlights the varied dynamics within the UK’s property market, where location continues to play a crucial role in sales velocity.

The Current State of the UK Property Market

The average time to find a buyer across Great Britain is currently 71 days, an increase from 57 days last year. This period marks the longest average wait since 2019. Despite the overall slowdown, Scotland and London have shown resilience, with only a slight increase in the time it takes to find buyers compared to the previous year.

Regional Variances and Market Sensitivity

The East of England has seen the most significant increase in wait times, with properties taking an average of 19 days longer to sell than last year. Conversely, areas like Scotland have only seen a minimal increase. This situation underscores the price-sensitive nature of the market, with buyers taking their time to choose from a larger selection of available properties.

Coastal Markets: A Shift in Buyer Interest

During the pandemic, coastal areas like St Ives in Cornwall and Brixham in Dorset were highly sought after, often regarded as ‘coastal hotspots’. However, these areas are now among the slowest markets, with significantly increased wait times for sales. Swanage in Dorset, for example, takes around 136 days on average to find a buyer, reflecting a dramatic change in buyer preferences post-pandemic.

Expert Insights on Market Trends

Tim Bannister, a property expert from Rightmove, emphasises the importance of market awareness for sellers. He notes that despite the overall market busyness, it is taking longer to find the right buyer compared to last year. However, Scotland’s property market shows only a marginal increase in wait times, contrasting sharply with the two-week average delay across Great Britain.

Adapting to a Multi-Speed Market

The UK property market is evidently operating at multiple speeds, with Scotland leading in efficiency. Sellers in slower regions may need to adjust their expectations and strategies in light of the broader market trends. For those looking to sell quickly, understanding regional dynamics and buyer behaviours remains crucial.

While the UK property market presents challenges, opportunities abound for well-informed sellers and buyers, particularly in areas like Scotland where the market is notably more dynamic and responsive.

Global Shipping’s Decarbonisation Drive: Unpacking the $5 Billion USD Moon-Shot Proposal


The maritime industry is at a pivotal juncture, facing the daunting challenge of decarbonising in line with the United Nations’ ambitious goals. A significant and groundbreaking proposal has been put forward—a $5 billion USD fund aimed at sparking the necessary research and development (R&D) to facilitate this transformation.

The Urgent Need for Maritime Decarbonisation

The maritime sector, responsible for transporting over 80% of global trade, also contributes approximately 2% of the world’s carbon emissions. The call for decarbonisation is not only a response to environmental imperatives but also a strategic move to align with global climate change initiatives.

Overview of the $5 Billion USD Proposal

At the heart of the initiative is the establishment of the “IMO Maritime Research Fund,” proposed to be financed by mandatory contributions from global shipping companies. This fund aims to support the International Maritime Research and Development Board (IMRB) in spearheading applied R&D of zero-carbon technologies tailored specifically for maritime use. This includes the development of working prototypes and supporting CO2 reduction projects, particularly in developing nations and Pacific Island nations.

Critical Timelines and Global Collaboration

The proposal is set to be discussed at a crucial meeting of the International Maritime Organization (IMO) in London, with hopes for approval in November 2021, coinciding with the UN Climate Conference (COP 26) in Glasgow. Led by major shipping nations like Georgia, Greece, Japan, and several others, this proposal is currently the most comprehensive plan available to meet the speed and scale of decarbonisation called for by UN Secretary-General, António Guterres.

Challenges and Imperatives

Achieving zero-emission ocean-going vessels by 2030 is a daunting task. The existing technologies are not yet capable of being scaled to accommodate large ocean-going ships. A robust R&D program needs to be initiated without delay under the auspices of the IMO. This program will not only focus on the technological aspects but also ensure that these innovations are feasible at a scale necessary for meaningful impact.

The Role of Governments and Shipping Leaders

Shipping leaders are urging governments worldwide to support this ambitious proposal, emphasising the need to be “on the right side of history.” The success of this initiative largely depends on the collective action and financial backing from all government sectors, underscoring a unified approach to a global challenge.

The Potential Impact of the Research Fund

The establishment of the IMO Maritime Research Fund could be a game-changer for the industry. By pooling resources and focusing on targeted R&D, the fund has the potential to catalyse the development of zero-emission ships. This would not only help in reducing global emissions but also in setting a sustainable path forward for the entire maritime industry.

A Call to Action

The shipping industry’s transition to a decarbonised future is fraught with challenges but filled with opportunities. The proposed $5 billion USD IMO Maritime Research Fund represents a significant commitment by the maritime sector to meet these challenges head-on. As the industry awaits the critical meetings later this year, the support from global governments will be paramount in determining the success of this ambitious endeavour. It is a call to action for all stakeholders to contribute to a sustainable and environmentally responsible future for global shipping.

This moon-shot proposal is not merely a funding mechanism but a beacon of hope for the entire industry, urging swift and decisive action towards a zero-carbon future.

How to Start a Business From Scratch in 7 Steps

Start a Business

Always dreamed of running your own business? The prospect can be both exhilarating and daunting, but we don’t think you should let a little thing like fear put you off. Whether you have an idea that could change the world, or you simply want to have a go at being your own boss, starting an entrepreneurial journey requires careful planning and meticulous execution. From conceptualization to launch, here are seven essential steps to guide you through the process of starting your own business.

Identify your niche

The foundation of any successful business lies in identifying a viable niche market. Conduct thorough market research to understand consumer needs and preferences. Look for gaps in the market where your products or services can offer unique value. 

For instance, if you’re considering a food delivery service, exploring niche markets like catering or specialised food delivery with fridge vans can be an innovative approach. You don’t have to reinvent the wheel, sometimes you just need to approach a problem from a different angle.

Write a business plan

A well-thought-out business plan serves as a roadmap for your venture. It outlines your business goals, target audience, revenue projections, marketing strategies, and operational framework. Be sure to include financial projections and a detailed analysis of your competitors. 

A comprehensive business plan not only helps secure funding but also provides clarity and direction for your business. If you find yourself losing focus and feeling conflicted about which direction you want to take your business in, you can refer back to this original document and allow this to shape your decisions. 

Explore funding options

Determine how much capital you’ll need to launch and sustain your business until it becomes profitable. Explore various funding options such as personal savings, loans, venture capital, or crowdfunding. Present your business plan to potential investors or financial institutions to secure the necessary funding. 

Remember that managing finances efficiently is crucial for the long-term success of your venture. If you don’t have a good head for numbers, work with an accountant from the start to ensure your business is financially viable.

Choose the right legal structure 

The next step is to choose a suitable legal structure for your business, such as sole proprietorship, partnership, corporation, or limited liability company (LLC). Register your business name with the appropriate government authorities and obtain any necessary licences or permits to operate legally. 

Consider consulting with legal and financial professionals to ensure compliance with regulations and tax obligations. The cost of these consultations will often be far less than the penalties you could face if you get something wrong in the beginning.

Build your brand

Develop a compelling brand identity that resonates with your target audience. This includes creating a memorable business name, designing a distinctive logo, and crafting a compelling brand message. 

Establish an online presence through a professional website and active participation on social media platforms. This is a cost-effective and popular way to reach a lot of people with a highly targeted message. Consistent branding helps differentiate your business from competitors and builds trust with customers.

Set up operations

Establish operational processes and infrastructure to support your business activities. This may involve securing physical locations, sourcing suppliers, hiring employees, and implementing technology systems. 

Pay special attention to logistics if your business involves transportation or delivery. Make the most of software packages available in your niche, so you don’t have to reinvent the wheel to digitise your business.

Create a marketing plan

Marketing isn’t something you turn on and off depending on how well your business is performing. It should be a permanent activity that is guided by a comprehensive marketing plan. Develop a comprehensive marketing strategy to attract customers and generate sales. 

Utilise a mix of online and offline marketing tactics such as search engine optimisation (SEO), content marketing, social media advertising, email campaigns, and networking events. Engage with your target audience regularly and solicit feedback to refine your products or services continuously.

Final thoughts

Starting a business from scratch requires dedication, perseverance, and adaptability. While the journey may be challenging, the rewards of building a successful venture that fulfils your entrepreneurial vision are immeasurable. By following these seven steps and staying focused on your goals, you can turn your business idea into a thriving reality.

Corporate Payroll Solutions that Improve Operational Efficiency

corporate payroll solutions

Adaptability and efficiency reign supreme in today’s business world and entrepreneurs are increasingly on the lookout for solutions that integrate and streamline their processes in a smooth manner. This is where the corporate payroll solutions of Flyfish come in, an innovative financial management service that has positioned itself as a beacon of promise for businesses seeking comprehensive solutions tailored to their modern needs.

With a keen focus on meeting the diverse demands of modern businesses, this company has emerged as a game-changer in the industry. By offering a comprehensive suite of services, they’ve not only addressed the current challenges faced by businesses but also anticipated their future needs. Now, let’s talk about the wide range of offerings provided by Flyfish. From cutting-edge technology solutions to online IBAN accounts. Once this review is over, you will know what makes this company stand out from the rest. 

Get Your Very Own IBAN Account

Expanding globally is essential for any growing company. And a key to this expansion is having your own dedicated IBAN account, the cornerstone of smooth international transactions. Flyfish distinguishes itself by offering a hassle-free application process, putting user convenience at the forefront. Instead of adding complications to its processes, this payroll management service simplifies things, enabling businesses to secure their online IBAN accounts swiftly.

An approach like this is what most people seek these days, paving a faster path to entry in the global markets. By facilitating rapid expansion into international markets, Flyfish empowers businesses to seize a wide range of favorable opportunities and expedite customer payment processing. It would be fair to say that this company stands as a trusted partner for enterprises navigating the intricate world of cross-border commerce. 

Customer Support that You Can Trust

When it comes to building trust, responsive customer support is of great importance Flyfish excels in this aspect with its dedicated support team. These high level professionals are always ready to assist users at every step of their journey. Whether you’re tackling technical issues, navigating international payments or facing unexpected hurdles, this corporate payroll service’s support staff showcases professionalism and expertise. Their comprehensive guidance ensures that users receive the assistance they require.

I was pleasantly surprised by how committed this company is to customer satisfaction. It highlights its reliability as a service provider. By placing a premium on user experience and adopting a proactive support approach, Flyfish solidifies its position as a trusted partner in financial management. If you have any questions from this company, don’t hesitate to reach out to their customer support team. They’re dedicated to helping you out, making sure that you can use their platform with ease.

Enhancing Efficiency in More Ways than One

Payroll management is not just about issuing paychecks; it’s about ensuring accuracy employee satisfaction. Here’s where Flyfish steps in, offering a comprehensive suite of payroll services that streamline processes and drive efficiency to new heights. By leveraging cutting-edge automation technology, this corporate payroll solutions provider eliminates the headaches that people often face when managing payrolls manually. This means fewer errors, fewer delays, and more time for your team to focus on strategic initiatives. With this company handling your business’spayroll, you can rest assured that salaries will be disbursed accurately and on time.

With all that said, Flyfish goes beyond just processing paychecks. Their intuitive platform provides insights and analytics that help businesses make informed decisions about labor costs, resource allocation and a lot more. By harnessing the power of data, this company empowers organizations to optimize their payroll processes and drive greater operational efficiency.

Improving Financial Oversight 

The business debit card offered by Flyfish is more than just a regular spending tool – it’s designed to help businesses manage their finances better. Unlike regular cards that might encourage overspending, this company’s approach is vastly different. With its strong system for monitoring transactions, the corporate debit card promotes transparency and discipline in tracking spending. This means businesses can get important insights into where their money is going and how to use it more wisely.

Using Flyfish’s online IBAN account and business debit card makes it easy for you to keep an eye on all of your company’s finances. This can help you handle tough financial situations with confidence. By using the card, businesses can simplify their financial processes, ensure everyone is accountable, and work towards steady growth. It’s a game-changer for managing expenses, offering a complete solution that goes beyond the usual limits.

Final Thoughts

Flyfish is a corporate payroll solutions provider that stays ahead of the curve by continuously updating and improving its services. Whether it’s integrating new technologies or refining existing processes, this financial management services remains committed to providing cutting-edge solutions that drive success for the long and short term. When you sign up for this company, you can benefit from its holistic approach to corporate financial management.

Compliance in FinTech: finding the right framework and sticking to it


In 2024, it’s more important than ever for the finance industry to bolster its defences, according to Hicomplya fast-growing tech platform offering information security management solutions.

The fintech industry has grown at a rapid rate over the last decade or so. From expanding cryptocurrency horizons to accelerating transactions and global economy accessibility, fintech is an exciting and dynamic field to work in. That being said, organisations operating in the space do need to be aware of the threats and risks at play.

Handling sensitive data like bank details and transactions is par for the course in fintech, so having the right defences in place is vital.

Gone phishing: the rising risks to fintech

Data security breaches are all too common within the financial technology sector, due to the high value of the information stored. This vulnerability affects companies of all sizes, including industry giants as well as challenger brands looking to scale-up quickly and build infrastructure later.

The fintech industry faces particular challenges when it comes to phishing attacks, which surged by 22% during the first six months of 2021. Although phishing typically exploits the trust of well-intentioned employees, the threat of insider actions cannot be overlooked. In the fintech sphere, there have been instances where staff or third-party service providers have intentionally abused their privileges for personal profit.

Protecting the pennies: compliance in fintech

Adhering to compliance standards sets a universal language, demonstrating a company’s dedication to cybersecurity across various sectors. By attaining key certifications like PCI DSS and ISO 27001, fintech companies not only foster trust but also mitigate the damage of financial penalties in the event of a breach.

Information security

At the heart of fintech compliance lies the protection of sensitive customer information. This involves the encryption of personal details such as sign-in details, financial dealings, and account identifiers to avert any security breaches.


Maintaining comprehensive audit trails also plays a crucial role in documenting fintech Information Security Management System (ISMS) activities. These logs serve as vital records for scrutinizing operations, guiding decisions on enhancing data security measures in the future.

Access controls

Implementing stringent access control measures introduces an additional safeguard by limiting data access in alignment with an individual’s association with the company.

How to achieve fintech compliance

Compliance should be woven into the fabric of any fintech organisation’s daily operations. Factors such as monitoring network endpoints to detect threats early on, restricting accessto limit the damage from compromised accounts, and developing secure codes to prevent flaws going undetected are all vital best practices.

What’s more, businesses can also introduce password policies to strengthen security further. 86% of data breaches are caused by weak passwords, according to Verizon, so introducing more robust measures like complex requirements, auto-lock out, and expiration periods can make all the difference.

Effective cybersecurity training is also essential, as rigorous data protection is an organisation-wide effort. Human error is a common gateway for cybercriminals, so training on elements like password creation, phishing identification, and handling sensitive data can help protect fintech organisations.

Final thoughts

As the fintech industry continues to evolve, it’s vital that companies in the industry take the necessary steps to protect their assets and their clients. Data protection is a non-negotiable part of any fintech organisation, and must be treated as such.

By implementing compliance best practices, fintech companies can avoid feeling powerless in the face of an ever-evolving threat landscape, and Hicomply is here to help you achieve compliance with ease.

Financial Settlement in Divorce: Step by Step Process


Considering that splitting up with your spouse is a regular occurrence in the UK, with 28,865  divorce applications filed in the first quarter of 2023, many people still find themselves a little in the dark when it comes to understanding the exact process of achieving a financial settlement. To help explain the process more plainly, here’s a simple step by step guide. 

Step One – Financial Disclosure 

Financial disclosure involves the sharing of information about each spouse’s financial situation. Full financial transparency is required from both parties and involves the completion of one of the following forms.

D81 Statement of Information (Basic Disclosure)

This is completed when the divorcing couple have agreed a financial arrangement and are looking to agree a Consent Order. It will be arranged by the solicitor drafting it. 

Form E – Detailed disclosure 

This is a longer, more detailed form. Both spouses complete one voluntarily at the request by a third party, such as a solicitor representing either spouse, or a mediator, prior to commencing financial mediation sessions. It is most common when there are complex finances, significant assets or a lack of information about one or both spouse’s finances. 

Step Two – Getting a Fair Settlement 


A solicitor can provide an outline of what sort of settlement might be fair based on preliminary information, but will be reluctant to commit to giving a clearer idea of what they think is reasonable until they have seen financial disclosure forms.


Some barristers will provide an informed opinion of what the outcome is likely to be in court, but this is a more expensive service, and therefore usually reserved for divorces involving high-value assets.

Step Three – Negotiation 

The aim here is to reach an agreement that will be deemed fair by the court. This stage can also be compounded by the fact that emotions and stress levels are often running high, which a negotiator can help to manage. 

Informal arrangements

This involves direct discussions between both parties, where the divorce is amicable and not financially complex. It is advisable to have informal agreements checked out by a solicitor and have them draft a Consent Order.

Solicitor – Out of Court Offer

Once financial disclosures have been completed, solicitors will advise their client on what sort of financial settlement they think is fair. One party’s solicitor will usually deliver a proposed settlement to the other party’s solicitor, which they either accept or make a counter-offer on. If an agreement is reached, a Consent Order can then be drafted for approval by the court. If not, then the next stage is either mediation or court proceedings.


Professional mediators will meet with both parties and try to reach a mutually agreeable resolution. The discussions will focus on areas of disagreement and aim to overcome them, to try to avoid ending up in court.

Step 3 – Going to Court: The final option

This happens if an out of court settlement hasn’t been achieved, and where a decision will be reached and enforced by the court. It is the most expensive route. Legal Aid may be available but this is likely to have to be paid back from your settlement Orders can be made for periodical child or spousal support maintenance, secured periodical payments on an asset, a lump sum order, transfer of property, sale of property, pension sharing, pension attachment and pension attachment of death benefits.

Court decision  

The court will base its decision on its assessment of a number of key factors, for example, the duration of the marriage, any children involved and their requirements, the financial position of each spouse, including earning potential and pension arrangements.  

The Ultimate Blueprint for Smooth Factory and Machinery Transitions

Relocating a factory is a monumental task that requires meticulous planning, coordination, and execution. The complexity of moving heavy machinery and ensuring that production is minimally disrupted can seem overwhelming. However, with the right approach and expertise, factory relocation can be streamlined, ensuring a smooth transition to your new facility.

Strategic Planning

Embarking on an industrial equipment relocation project without adequate preparation is a recipe for chaos. The key to a seamless transition lies in meticulous planning, well ahead of the moving date. This entails conducting a comprehensive risk assessment to guarantee the safety of the personnel involved and developing a phased moving plan to ensure that equipment is relocated efficiently and safely.

Consideration of your production schedule during the relocation process is crucial. Deciding whether operations will continue and if so, how your workforce will be accommodated, is a fundamental aspect of your planning stage. Addressing these concerns early on ensures that you are prepared for any unexpected challenges, facilitating a smooth transition.

Effective Communication

The success of a factory move largely depends on clear and effective communication across all levels of the organisation. From the outset, it is vital to establish open lines of communication with your team, including HR, health and safety, and quality control departments. Everyone involved must understand their responsibilities and how they fit into the broader relocation plan. This clarity prevents misunderstandings and ensures that the relocation progresses as planned, without unnecessary delays or complications.

Inventory Documentation

A critical step in preparing for a factory relocation is documenting your machinery and equipment. Understanding exactly what you have and the condition it’s in allows for informed decisions about what to move and what might be better replaced. This not only saves time and resources but also ensures that you do not transport equipment that is nearing the end of its useful life. Clear communication with your team about which items are being relocated and which are being discarded is essential to avoid confusion and ensure that only necessary equipment is moved.

Understanding the New Factory Layout

A successful relocation is not just about moving equipment from point A to point B; it’s also about knowing where each piece will go once it arrives. Familiarising yourself with the layout of the new factory and planning the placement of machinery are crucial steps. This not only optimises space but also ensures that installation processes are efficient. Some equipment may require special foundations or connections, so understanding the new facility’s layout is paramount for a smooth installation.

Maintaining Operations During the Transition

The impact of relocation on your daily operations cannot be underestimated. It’s important to manage expectations, both internally and externally, by communicating with customers, suppliers, and stakeholders about the move. Planning for operational continuity is essential to mitigate any negative effects on your business’s bottom line. Whether it’s arranging for temporary production facilities or adjusting delivery schedules, ensuring that your business remains operational during the move is crucial.

Avoiding Common Pitfalls in Factory Relocation

Awareness of potential missteps can significantly improve your relocation experience. Common oversights include failing to thoroughly audit inventory, neglecting to anticipate operational adjustments needed in the new facility, and losing track of budget constraints. By addressing these areas proactively, you can avoid unnecessary complications and ensure a smoother relocation process.

Relocating a factory is undoubtedly challenging, but with the right preparation, communication, and execution, it can be managed effectively. By adhering to the principles outlined in this guide, you can ensure that your factory and machinery relocation is conducted smoothly, with minimal disruption to your operations. Remember, the success of your relocation hinges on your ability to plan, communicate, and adapt to the unexpected. With these strategies in hand, you’re well-equipped to navigate the complexities of factory relocation.

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