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Prepare For Tomorrow… Today

Upskill, reskill and become multi-skilled to build a workforce with future-proof skills.

Enterprises University of Pretoria

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Vital Stats

It is estimated that roughly one-third of the skills considered important for today’s global workforce will change vastly within the next five years.

Not only will this create a greater need to upskill or learn new skills, but it will also ignite a drive towards developing more well-rounded, competent professionals who can adapt within any organisation or industry.

In what has been coined as the world’s Fourth Industrial Revolution or Industry 4.0 – many organisations and business owners are gearing up to rightsize, re-energise and focus on core business while securing a multi-skilled, flexible workforce with a self-directed drive towards organisational goals and strategies.

Related: Embrace The Shift In Professional Training And Skills Development

Game-changing solutions

At Enterprises University of Pretoria, we have changed our approach to training and research interventions to help you better realise career objectives, capacitate yourself to change the game and increase your team’s ability to shift knowledge to insight.

Drawing from leading industry experts and some of South Africa’s finest academics, we provide you with customised, proactive solutions aligned to skills development needs for various industries, places of work, communities, the country and beyond.

Securing future-proof skills

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Relying on only one trade or skill will no longer make the cut when it comes to future-proofing your career. Already having made a significant impact on the careers of more than 320 000 professionals and 6 000 organisations from across the globe, we are taking our commitment to lifelong learning even further.

Being a multi-skilled professional means that you become indispensable to your team while also embracing opportunities to shift to better positions when the time is right.

Our dynamic interaction with industry role-players not only enhances levels of engagement, but also energises the drive towards lifetime decisions related to both individual (career growth) and organisational (critical business insight) undertakings. Your future starts here.

Related: The 10 Best Online Courses You Can Enroll In Today for Under R200

Shaping the career landscape

The wider your field of knowledge and expertise, the more likely you will be able to shape your own career prospects – whether in your current organisation or by shifting between career opportunities.

As your strategic partner, we deliver business insights informed by scientific evidence and showcase market relevance aligned to industry developments. When it comes to propelling your career – and organisation – to the next level, we want to equip you with the right skills set to take on Industry 4.0 with full force.

Here is how we can help you prepare the skills that will shape tomorrow’s careers:

  1. Customised solutions geared towards upskilling employees, addressing organisational and industry needs and corporate deals that get you more in the long-run without breaking the bank.
  2. Training that suits your schedule with online or blended training if you have time, space or budget constraints. Access training anywhere, complete it in your own time and go at it on your own pace.
  3. Industry-aligned interventions with more than 500 career-focused short courses across 20 fields of study, over 400 annual research projects and a client base that spans all industries and spheres of government.
  4. Continued Professional Development (CPD) activities registered with various national and international bodies of practice to stay on top the latest career developments while gaining critical insights for future growth.

Why partner with us

As the training and research partner of choice, Enterprises University of Pretoria translates the quality, relevance and impact of the academic and research-intensive outputs of the University of Pretoria into all-inclusive and innovative Training Solutions and Research Solutions for individuals and organisations alike. Learn more about our full offering at www.enterprises.up.ac.za.

Our Training Solutions and Research Solutions provide you with innovative, customised and practical solutions that ensure increased productivity and enhanced employee engagement within any industry – setting us apart from traditional training and research organisations. With some of South Africa’s most acclaimed academics and thought leaders on our team of course leaders and research specialists, we ensure that you continuously engage in ground-breaking knowledge transfer – shifting knowledge to insight. For more information, visit www.enterprises.up.ac.za.

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Company Posts

South Africa Seeks Innovative Solutions to Payments Systems

How to bridge the divide and bring FinTech technology and a new infrastructure of POS systems to the masses.

Harald Merckel

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News has been circulating that high-level players in South Africa are working hard to introduce structural changes in payments solutions. Some of the biggest players in the industry, including the Payments Association of South Africa, and BankservAfrica have begun work in earnest on facilitating expedited transactions settlements, by adding new payments systems and features into the market.

Financial technology, a.k.a. FinTech is powering the payments gateway to cost-effective solutions for South African businesses, consumers, domestic and international stakeholders. According to industry pundits, the payment system that currently exists in South Africa was formulated in the 1980s. At the time, it was highly regarded by world standards. However, the rampant innovation that has taken place with the Internet of things since then necessitates updating.

Various solutions have been touted, to rethink the infrastructure framework that currently exists in South Africa. The economy is rapidly changing, and mobile technology is being embraced across the board. The South African payments system is long overdue for an upgrade, as shifting priorities and the widespread digitisation of the economy take place. For starters, payments solutions across South Africa must factor in the large underbanked and unbanked sectors of society.

Related: 6 Lessons The Founders Of iKhokha Used To Launch An African Fintech Start-up

A key industry player, Bankserv which is owned and operated by Standard Bank, ABSA, and Nedbank among others is ringing the changes. Back in 2017, this financial entity processed R188.2 billion worth of ATM transactions. The total number of transactions numbered 452.6 million additionally. It processed 52.5 billion POS transactions valued at R290.9 billion in credit card authorizations in the same year. Electronic funds transfers (EFTs) to the value of R9.4 trillion were also processed by Bankserv. These are significant figures, and they point to a shift in financial transactions processing in South Africa.

Groundbreaking POS Systems to Debut in SA

The widespread innovation currently taking place in POS systems is reshaping retail industry, the food and beverage service, and other merchant networks across the board. One of the industry leaders in this regard is revel systems POS. It is fully integrated with a robust selection of features, the likes of which include superior reporting features, full kiosk functionality, and a modern kitchen display system for the thriving restaurant industry in South Africa. The technology was created back in 2010 by Chris Ciabarra and Lisa Falzone as an innovative Apple iPad point-of-sale system. It was tested in the San Francisco Bay Area and became an instant hit.

Today, the Revel POS system sports 25,000+ terminals around the world, at high profile company such as Cinnabon, Goodwill, Smoothie King and others. South African restaurants and food industry businesses can enjoy monthly subscription fees, and the software license is included in the monthly subscription fee. Flexible pricing is another advantage of using this POS system. Plus, users get to enjoy industry-specific software and integrations that can be used by quick service businesses and restaurants.

It’s ideally suited to businesses that have 500,000 SKUs, although it’s equally adept at serving smaller SA businesses. In terms of ease-of-use, this POS is intuitive for front-end use, and training videos facilitate backend learning and integration. The backend management is particularly effective in terms of training regimens, navigation, and utilisation. All that’s required to get started is an Apple iOS device, and any standard barcode scanner is fully compatible with the system.

Related: How Fintech Zoona Is Solving Customers’ Real Problems

Among the many features include the following:

  • Fully Functional point-of-sale systems
  • Real-Time Inventory control of SKUs, including cost considerations, pricing, inventory, size, colour, style etc. Digital menu boards, kitchen display systems, and kiosk point-of-sale systems are also available
  • Purchase Order Management and QuickBooks integration
  • Customer Management in terms of purchases, details and personal data is also available.

What Are the Current FinTech Challenges in South Africa?

Contrary to widespread belief, South Africa has one of the most sophisticated payments infrastructures. This is certainly a feather in the cap for South Africa’s financial and FinTech sector. Given that Internet usage is widespread, and the telecom network that facilitates Internet functionality is highly developed, South Africa ranks on par with the best of them.

There are effectively 2 parallel economies operating in South Africa – the first world developed FinTech economy, and the informal economy which dominates the outlying areas. South Africa has a challenge on its hands: How to bridge the divide and bring FinTech technology and a new infrastructure of POS systems to the masses.

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Company Posts

Investing In Value Creation Tools Can Help Your Business Grow

ACCA on attracting new clients, establishing and strengthening commercial partnerships and accessing external finance to help your business expand.

ACCA

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The business journey of many SMEs is often characterised by a gradual change in internal management practices which develop as the business operations grow. The subsequent recognition of the business’s value creation, across all its operations – tends to emerge slowly but surely alongside this process.

Gaining an understanding of ongoing value creation can be challenging. This is because smaller companies tend to not have access to simple and understandable data sets on everything, which is and isn’t contributing to value across the business.

For example, customer and supplier relationships, human capital and intellectual property are all common examples of activities where SMEs regularly experience difficulties in determining the real contribution to the businesses’ overall value. These are areas that are not picked up by financial reports that are a focal point of many growing businesses, hence the importance of these areas in business is not given the proper attention it deserves.

Related: Achieving Business Success: How Walter Muwandi Gained The Edge

However, by improving trust and relationships between customers and those along your supply chain, this information can be used to attract new clients, establish and strengthen commercial partnerships and access external finance to help your business expand.

Key actions to consider when capturing the value within your business include the following:

  1. Use cloud and data analytics technology to support growth;
  2. Create a business strategy which incorporates everything;
  3. Allow staff to use new technologies to innovate; and
  4. Appreciate the importance of technology in attracting external finance.

These actions will help you succeed in developing a successful business strategy.

Use cloud and data analytics technology to support growth

Purchasing relevant software packages could help you access the data you need to understand where and when value is being created. Cloud and data analytics technology can provide a real-time flow of information, offering detailed measures across workflows, whilst also complementing existing reporting processes.

More long term, this technology can provide you with greater flexibility when anticipating future periods of growth.

For example, when the time comes to up-scale your business operations, it could help your finance function adapt more easily to any additional demands being placed upon it and mitigate the risk of disruption towards ongoing operations.

At the same time investing in this technology doesn’t have to happen overnight. Software packages can be purchased in stages and tailored to meet the specific needs of your business.

Create a business strategy which incorporates everything

Business success will often be determined by how effectively you can combine the value of ongoing operations into the development of a single, overarching business strategy. Understanding of the key strategic themes by employees is critical in aiding future business expansion plans and growth. This integration can support planning processes.

By taking a short, medium and long-term view on how value creation might change across the business, you will be in a much better place to identify upcoming risks and opportunities related to your growth ambitions.

The practical delivery of this might involve regular integrated reporting across your business’s operations. The more data that is involved in this process, the more helpful it will be towards informing your management decisions.

Allow work teams to use new technologies to innovate

Companies might also want to consider supporting work teams in certain areas to come up with new ideas to enhance plans for business growth and learn from possible failures, without the personal risks that entrepreneurship entails.

Allowing employees to use new technologies could help to reduce costs and offer new revenue opportunities as your business expands. It could also help to stimulate a high growth business and to fully communicate business’s value to potential clients and commercial partners.

Related: The Rise Of Digital In Shaping Business Terrains

Appreciate the importance of technology in attracting external finance

Investing in technology at an early stage can help attract external investors, as well as reducing the cost of raising growth finance. Such investors need to be able to understand the broader strategy of your business.

Lenders are increasingly using data to build up a broad perspective on the growth potential of SMEs. If you can provide real-time information – rather than just historical data – of your business’s performance, this could greatly increase the chances of obtaining the finance you need to grow.

However, there remains a gap and potential to co-create new approaches of raising capital amongst growing businesses and in creating agreed terms of sharing risks. This could bolster the advancement of entrepreneurial houses toward creating real economic equity in long term.

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Accounting & Payroll

Save Your SME Money With A Good Payroll Management System

Not only does an efficient payroll system enhance staff morale and boosts your reputation, it can also save your business significant costs.

Sage

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Payroll solutions are designed to help hone the strategic focus of your business’ HR department, by shifting HR and payroll managers’ from paperwork to developing and motivating employees.

“The biggest potential saving comes from full compliance with tax and labour laws and regulations,” says Ania Strydom, Compliance Specialist at Sage. “Avoiding the massive costs of fines, interest and penalties that a company risks if it doesn’t comply.”

Here are her tips for conducting payroll, saving money on a good system, and pitfalls to avoid that most SMEs don’t see coming:

Choosing a viable payroll management solution

  • Look for a scalable product that can grow alongside the business
  • Find a solution with full local support that is kept up to date with relevant labour and tax laws for the markets where the business operates
  • Make sure the vendor has a proven track record and local reference sites
  • Ensure that the solution is built on flexible modern technology that accommodates today’s trends — mobility and the cloud, for example
  • Consider a solution with integrated employee self-service functionality.

Related: Brand And Marketing: Finding The Balance For SMEs

Vital considerations when conducting payroll

  • Ensure that the payroll department consists of people with a good knowledge of payroll and the required skills set to ensure success and compliance with payroll
  • Instil a payroll environment that does not need regular review
  • Conduct regular payroll compliance audits to ensure compliance minimises the risk of exposure.

How a good payroll management system actually save you money

  • Using automated payroll software with employee self-service functions can help organisations save time as it diminishes the need for manual data capture, calculations, reporting or returns
  • Rest easy knowing that automation reduces the possibility of human error, allowing businesses to focus on strategy, customers, and employee engagement rather than on red tape
  • Payroll can help businesses understand how employees are contributing to profitability, what resources are needed, the cost for major projects, and identifying gaps or surpluses in their human capacity
  • The risks of payroll fraud and incorrect payments are reduced by giving managers better visibility into transactions, providing an audit trail, and providing a set of controls, checks and balances
  • The biggest potential saving comes from full compliance with tax and labour laws and regulations – avoiding the massive costs of fines, interest and penalties that a company risks if it doesn’t comply.

Related: SME Leaders: How You Can Manage Growth

Avoid payroll errors SMEs typically make

  • The use of manual solutions due to tight budgets. They should instead, look at affordable, cloud-based solutions that are priced per payslip per month instead
  • Failing to enforce separation of duties. Different people should have responsibility for capturing payroll data and for managing access to the system as well as adding and removing employees from the payroll. Another person checking that the numbers add up could reduce risks of fraud and error
  • Not keeping abreast of changes to tax and labour laws such as the Employment Tax Incentive.

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