Digital transformation and the use of emerging technologies is the single biggest challenge one in two (53%) Australian businesses say they are facing this year, according to new KPMG data.
End of financial year (EOFY) is an ideal time to get clear on your tech strategy while sharpening priorities and investing in clarity. If the organisation isn’t where it needs to be in terms of digitisation, this is the time to consider the company goals and create the systems to meet those needs.
In a fast-evolving, digitally saturated landscape, staying competitive means more than just adopting new tools, it requires a strategic commitment to building resilient digital infrastructure whether it’s AI integration, improved cyber-security, data analytics or leveling up customer experience, tech advances are changing quicker than ever.
Companies that know how to stay lead the AI wave are the ones that are leveraging latest technology with human empathy and emotional intelligence. What we call a ‘High-Tech, High-Touch’ approach that is a perfect blend of technology and human touch to stay ahead and irreplaceable.
Strategic AI integration
Almost half of Australians are now using generative AI – a huge jump in the last year – and 74 per cent of those using AI at work say it helps increase their productivity. It’s being used for everything from creating advertising content, marketing plans and social media posts, to automating tasks, analysing data and improving customer experience (CX). Companies that are not yet utilising these powerful tools risk being left behind in FY26.
Cybersecurity and data privacy
Having stringent protection around cybersecurity is important at any time of year, but this is particularly critical during EOFY when the risk of cyber threats soar. With an influx of calls, messages and emails at this time of year, there is often intensified pressure, creating a dangerous environment for cyber attacks emphasising the need of robust information security.
The increased reliance on technology and digitised business processes can further increase the chance of companies falling victim to a scam. Thus, high standard of compliance and regulatory practiced are must haves in today’s digitally evolving world.
Tapping into incentives
EOFY is a strategic time for Australian SMEs to apply for government grants and incentives such as the R&D Tax Incentive, Industry Growth Program and Export Market Development Grants (EMDG) which can fund innovation, expansion and training. These offers are often organised according to the tax season.
Automating admin
Accurate records and a well organised tax filing system will mean fewer surprises at EOFY. Streamlining processes and reducing manual work also increases efficiency, cost savings and employee satisfaction while reducing mistakes.
Improving remote collaboration
With around 40 per cent of Australian workers now regularly working from home, remote tools are critical for peak performance. With TP’s custom program Cloud Campus, a global virtual workforce platform that enables remote teams deliver consistent and seamless customer support services, we have equipped our teams to effectively collaborate and deliver borderless CX. What’s more? With cloud technology, we have even harnessed power of virtual workplace that enables onboarding, training, employee engagement and collaboration to drive service delivery and customer satisfaction scores.
Geographically dispersed teams can now interact via cutting-edge virtual platform, attend training sessions and participate in team building activities – all within a unified ecosystem. The platform also features AI-driven analytics to optimise performance and ensure operational excellence.
Level up customer experience
Customer experience (CX) is a proven driver of strong business growth. EOFY is an ideal time to enhance customer experience management because it creates a framework for the year ahead. Companies in the retail space tend to see some of their busiest times at EOFY, so it’s important to ensure that influx is capitalised on.
Richard Valente is the Executive Vice President CX Strategy at TP in Australia