Four financial tips to get your business in great shape  

2 March 2021:

2020 was a year of financial uncertainty for businesses globally as many faced an uphill battle to stay afloat. With the economic fallout of the pandemic and the new realities that the next stage of Brexit brings, 2021 looks set to be similar. In the first month of the year, for example, Mastercard already announced that it would raise its fees for UK cardholders purchasing EU goods. As such, future-proofing all financial operations and effectively managing company budgets will be crucial for those doing business internationally. To maintain upward growth, businesses must learn from the lessons of 2020. Investing in technology and the right financial tools, keeping ahead of the latest industry changes, and creating a clear continuity strategy will be paramount for success.

Here are four key tips that will keep UK companies thriving in 2021 by understanding why business leaders should implement these changes now:

1) Invest in your collaboration tools

Although many businesses will be keen to reduce expenditure and protect their budgets after a financially turbulent year, investing in a fit-for-purpose technology stack for the long term must remain a priority. This is especially true in the area of employee collaboration, particularly as the future of work seems likely to be a hybrid of both in office and remote working. Focusing on tools designed to keep employees aligned will supercharge productivity and the speed of work, allowing teams to focus on strategic growth rather than fixing fragmented communication. The likes of Slack, Zoom, and Google Drive have been keeping distributed teams connected seamlessly wherever they are based. 

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Source: FinTech Magazine

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