Project management is a large and fascinating field. It supports the growth of countless enterprises globally. But there’s a scarier side to it; the side that most businesses would rather not talk about: the losses of failed IT project management endeavours. According to the Project Management Institute, the average large IT project runs 45% over budget, 7% over time, and delivers 56% less value than expected.
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Adopting new technology in business isn’t a simple task. It takes time and resources to make sure that you’ve found the right solution and that it will make a positive impact on your bottom line.
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If you haven’t been paying attention to mobile trends, you should. A lot has happened in the mobile space. In 2016, almost 70% of South Africans browsed the web on their mobile phone, this figure up by 15% since 2016.
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A lot has been written about the state of mobile wallet technology in South Africa. Some say it’s fallen flat and others say it’s not viable. As a company that spends every waking moment thinking about mobile wallets, payments and how to create more delightful customer experiences for our users, we realise that there is more that we can share on the state of mobile payment technology than anyone else.
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Consumer rewards programs are sometimes viewed as useless in the face of strong competition. Tight margins and high operating costs make finding worthwhile offers a real challenge for businesses. At least, that’s what some people think. However, in a paper by Marcel Corstjens and Rajiv Lal, they come to the conclusion that even low-margin retailers can create consumer rewards programs that strengthen their brands and create real profit growth.
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Consumer incentive programs can be a highly effective means of driving business growth, but to make them work you must …
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Consumer incentive programmes are meant to produce tangible results. Results can range from a decrease in customer attrition or an increase in sales of a new product, to the repayment of a percentage of consumer debt. Whatever the reason for the incentive programme, positive results are the goal.
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It’s been roughly 26 years since the idea of gift cards materialised. Today, they are pretty much everywhere and have even made their way into corporate businesses, aptly labelled as “corporate gift cards”. As far as we can tell, the very first gift card appeared in the US. Neiman Marcus, a department store company, wanted to explore a simple idea: give customers the option to pay upfront for a card that could be gifted to someone who’d buy clothing, shoes, handbags or accessories at a later date. It didn’t quite stick for them back then and became a novelty item – something to be kept out of sight unless explicitly asked for by a customer.
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Open- or closed-loop payment systems? These terms are starting to turn the heads of savvy business owners across South Africa. As technology continues to drive consumer adoption of new and more convenient methods to interact with companies and pay for products and services, business owners who want to stay competitive are looking for smarter ways to attract more consumers and increase wallet spend.
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There’s very little that you can’t do with a credit or debit card. On one Saturday you could shop up a storm in your local shopping mall, pay for parking, fill up your fuel tank, and grab dinner at your favourite Italian restaurant – all before picking up tickets to catch the latest blockbuster on the silver screen. Swiping your card is just a part of what happens in everyday life.
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