Improving Productivity & Effectiveness With Bartercard

When it comes to productivity and effectiveness, there has been no tool more enduring than the humble ‘to do’ list. However, these days, we find that our lists are growing faster and faster, so if you’re finding your ‘to do’ list continues to grow rather than shrinking, take note of these tips to help you get organised.

Be clear and stay focused on your vision, strategy, goals, plan and priorities; take control; delegate and outsource; understand where you are wasting your time; don’t get distracted or allow interruptions; decide the best time of day for your different activities, AND limit your ‘to do’ list!

A great first step is organising a hierarchy for your ‘to do’ list, from high priority tasks through to the less urgent. The first step is identifying your ‘must do’ tasks, e.g. meetings and appointments, as well as other urgent work. Taking these prioritised tasks and including a deadline on your list can help you action the work. Organising a hierarchy for your tasks and giving them deadlines gives you a great idea of how to best utilise your time.

So, what do you need to be asking yourself when it comes to ordering your tasks according to priority?

How important is it?

How long is it likely to take to complete?

What are the consequences of not completing it now?

Are there any special tools or information I need before I can complete this task?

Once you’ve answered these questions, you can decide which jobs to tackle first and prioritise your tasks effectively.

Outsourcing is an efficient way of handing over admin tasks to someone else.  If they don’t require your expertise and you have too much to do, consider outsourcing and delegating your tasks as much as possible to relieve some of the strain. This works the other way – be open to people delegating and outsourcing tasks to you. We work well when we work cooperatively.

You can’t plan for every eventuality so it is important to leave a window in your diary for unplanned things – answering emails, unexpected phone calls, last minute tasks. If you leave 10 minutes of every hour to these unexpected delays, you’ll be adequately prepped if anything comes up. And if nothing does, you’ve just found yourself 10 minutes when you can re-align yourself with the work at hand, and get kickstarted on the next job, so for more information on increasing profit, increased sales and selling old stock please go to www.bartercard.co.nz .

Bartercard Discuss the New AML Changes That Came Into Effect on 1 July 2018

As Bartercard explain, legislation is constantly changing, to keep up with the fast paced and ever evolving business world and latest technology advances.  As they say, “You can’t plan for every eventuality, but there are some things you can plan for,” and one of them is the changes that have just occurred to the Anti-Money Laundering (AML) & Counter Financing of Terrorism (CFT) Act, which was first introduced in 2013.

The original act imposed a series of obligations on banks, fund managers, financial advisers, debt collectors, safe deposit box vaults and numerous other entities, and was designed to ensure such businesses and financial instructions were able to detect and report potentially criminal origins or purposes of money.

However, this year, these legislative requirements are being extended to include the legal, real estate, sports betting, and high value goods industries (jewelry, precious metals, precious stones, watches, motor vehicles, boats, art, or antiques where cash payments of $15,000 or more are taken).  It is estimated the impact will more than quadruple the number of businesses in New Zealand required to contend with The AML Legislationrequirements.

Bartercard warn that with a shift from warning to prosecution, it’s imperative businesses understand their obligations in ensuring AML processes and structures are in place ahead of the legislation which has now come into force for their industry.

The Compliance Officer role is perhaps one of the most important aspects of the AML/CFT system, and as Bartercard explain, an employee must be designated to administer and maintain a business’ AML/CFT programme.  It doesn’t have to be a standalone position; however, the role must report to a senior manager of the reporting entity with access to any board of directors or relevant management committee.

The CFT and AML Compliance Officer has a substantial stake in the business to meet legislative requirements with them becoming personally liable for breaches of the Act, the penalties for which can be up to $200,000 per breach.

Monitoring Suspicious Activity in addition to Transaction Reporting to the Police Financial Intelligence Unit is also an important component of the legislation. International wire transfers of $1,000 or more and any physical cash transaction of $10,000 or more must be reported to the Police Financial Intelligence Unit. For high value goods dealers, they will have to file reports on any cash transaction of $15,000 or greater and may file a report on suspicious activity that does not result in a transaction.

For more detailed information on the AML & CFT Act, download Bartercard’s free eBook (https://bit.ly/2tgwXOb).  Formore information on increased salesincreased profits and increasing profits please go to www.bartercard.co.nz