True disruption—the kind that marks lasting paradigm shifts in the predominant way things are done—is more than a technology story. It’s a virtuous circle in which technology spawns changes in market and competitive dynamics, and vice versa. To stay on the right side of disruption, businesses need to anticipate the signals and adapt and reinvent themselves before disruption upends them. For the middle market, that means establishing a digital strategy that balances the long-term vision with realistic short-term goals.
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Digital transformation: innovation’s holy grail. For some organizations, digital transformation is in their DNA. The adaption to—and adoption of—emerging technologies to further business goals comes instinctively to them. For the majority of middle market companies, however, digital transformation requires a lot more foresight, consideration, and planning. Companies that begin their journey today are much more equipped to continue evolving tomorrow. The challenges will be great—but the rewards, greater.
Choosing a technology platform is a time-consuming process leading to a critical decision. You need to be confident that the platform supports your multi-year benefits strategy, and that the HR technology vendor you select will meet your needs today—and in the future. When it comes to choosing the right vendor and solution, it is crucial to ask the right questions.
It's clear that tax reform is just one manifestation of the changes happening across the tax function. What was once a relatively routine field now faces shifting regulations and compliance issues both at home and abroad. The role of the tax professional is changing from numbers-cruncher to strategic leader, and adept tax professionals in 2019 and beyond will need to prioritize adaptability, process efficiency, data analysis, and effective communication around total tax liability to maximize their impact.
While major cyber incidents and data breaches at large corporations capture global headlines, middle market companies are starting to recognize that they are often the prime target for cybercriminals. With generally limited resources, middle market organizations must place a premium on awareness and benchmarking to help mitigate the threat of cybersecurity attacks and to comply with data privacy regulations.
Businesses are more likely to face an employment practices liability (EPL) claim than one related to general liability or property loss. Litigating a single EPL lawsuit typically costs between $200,000 and $300,000. But there are six strategies you can take to reduce the risk and cost of EPL claims.
Cyber security is a subject that continues to make headlining news. Because every business is at risk of a cyberattack, it’s important to know what types of threats your business could be subject to and understand the techniques you can implement to help prevent attacks from happening.
Defending an employment practices liability (EPL) claim can easily take a year’s time, consume large amounts of money and resources, and distract from normal business operations. But these business claims are prevalent, even for employers who are dedicated to healthy and helpful employee relations. The fact is your business is three times more likely to face an EPL lawsuit than it is to experience a fire. Learn how an EPL insurance coverage can help your business and bottom line.
In the course of administering an employee benefit plan, many decisions must be made. Whether those decisions are being made by an individual or a committee, the process for making the decision must be prudent. Importantly, if the decision later is challenged by a participant by making an ERISA claim in federal court, how can the person or committee who made the decision demonstrate prudence? Becoming informed is the first step in demonstrating prudence.
Potential drains on business efficiency include groups of remote workers unable to communicate well with one another, tools that make it hard to adapt to changes or new needs quickly, and the high cost of equipment and IT personnel. Cloud-based solutions address these areas and more. In fact, four options provide the opportunity for your business to become more efficient in very little time.