Two thirds of businesses need to look beyond the financial imperative in post Covid-19 world

Research from ACCA and PwC shows two thirds of organisations need to embed finance business partnering further into strategy and decision making

Companies are being urged to look beyond the financial imperative as economies around the world look to kickstart as a result of the Covid-19 pandemic.

Finance Insights – Reimagined, a new report from the Association of Chartered Certified Accountants (ACCA) and PwC, surveyed more than 3,400 firms on the changing role of the finance professional and how they can influence companies’ future direction.

The report highlights the greater focus on the finance business partner (FBP): individuals, or a group of individuals, who are the conduit between finance and its stakeholders. It outlines how they can help companies navigate turbulent economic times.

Results show finance business partnering was a proactive role in organisations, a fundamental part of decision-making and strategy. However, only 37% reported that it was truly embedded and that the remaining 63% are compromising their agility to support and influence business decision-making at this critical time.

The report outlines the FBP will be more commonplace than other finance roles as a result of automation and process efficiency. It also envisages the role of the partner will become more strategic and collaborative to support operational decision-making across the organisation.

Clive Webb, senior insights manager at ACCA, says finance business partnering is a key consideration for firms seeking survival and a more sustainable future ahead of an impending recession.

He said: ‘There is a temptation in responding to the COVID-19 events, as organisations and economies seek to recover, that the sole focus is on the financial imperative.

‘This approach could ignore the dangers society will continue to face and may lead to narrow responses to broader issues that are connected to the financial performance. To respond to this, accountancy and finance professionals need to have a robust skill set and must show they can play an ever-important role in driving business performance.’

Mr Webb concluded: ‘The two most valued aspects in the role were the support of business strategy and the analysis of current performance; this suggests that finance professionals might not yet be achieving the forward-looking view on which the future of the finance function depends.

‘The six hypotheses generated in this report allow businesses, both large and small, to explore the opportunity for finance insights and the role of business partners in generating sustainable value creation.’

Brian Furness, Partner at PwC, underlined the importance of the six capitals identified in the report in future planning.

He said: ‘The six capitals - financial, manufactured, intellectual, human, social and responsible, and natural - which are outlined in the report, provide a unique framework to evaluate how any finance function is performing.

‘In response to COVID-19, and by using this framework, CFO’s will be able to make sense out of the current situation, and plan successfully for the future.’ 

Uber rolls out enhanced safety measures amid Covid-19 outbreak

●     Uber will use new technology to verify all drivers are wearing a mask or face covering before taking a trip in Pakistan, as part of its #MovewithSafety campaign

●     Uber has allocated $50 million for safety equipment globally, asking both drivers and riders to take additional safety precautions.

As the government begins to ease off lockdown and workplaces slowly resume operations, Uber Pakistan’s #MoveWithSafety campaign aims to educate and raise awareness of the additional safety measures it has put in, in order to help the app’s users stay safe.

Uber partner drivers in Pakistan will be asked, as part of a new in-app safety checklist, to verify that they are wearing a mask using their new object recognition technology. Any driver who is not wearing a mask or a face covering will not be able to go online. Drivers can cancel the ride if a rider is not wearing a mask, without incurring a penalty. Partner drivers will also be asked to confirm if they have taken additional safety measures, such as regularly sanitising their car and making hand sanitizers available for their riders. Riders will also be able to cancel rides, without incurring penalties, if drivers aren’t wearing masks.

Similarly, riders will be asked whether they have taken necessary safety precautions, like washing their hands before getting in the car, sitting in the backseat and opening windows for ventilation. Only two riders per car will be allowed, in line with government regulations in Sindh and Peshawar, and three riders per car in Punjab and the Federal Capital.

Globally, Uber is investing $50 million to help ensure every driver and courier has access to personal protective equipment, and cleaning and sanitising supplies needed to work more safely on the Uber app. This includes providing masks to drivers across Pakistan and reimbursing eligible drivers and couriers for the purchase of a sanitizer or disinfectant product of their choice up to a maximum amount which is defined for each country. So far, Uber has provided or reimbursed hand sanitisers, cleaning sprays and disinfectant wipes to drivers in Pakistan, as well as over 20,000 masks. It is also partnering with Unilever to distribute hygiene kits to drivers and couriers across Europe, the Middle East, and Africa.

Saad N. Pall, General Manager at Uber Pakistan said, “At Uber, we put safety at the heart of everything we do and we believe technology can make travel safer than ever before. Now, as cities begin to reopen, we want to ensure that both riders and drivers recognise that they have a shared responsibility to make travel safer, and enough flexibility to manage this, while prioritising health and safety. Governments as well as the private sector across the globe are continually working to assess and adapt a world post the COVID-19 pandemic, and we want to use the scale and influence of our platform to proactively complement the government’s efforts to help everyone stay safe and healthy.”

Previously, Uber also announced the launch of Uber Medics in the UAE and Saudi Arabia as part of its global commitment to Move What Matters, providing healthcare workers with discounted trips to and from their workplaces. Additionally, ‘Uber By the Hour’ offers riders with an hourly ride option, without having to re-request a trip at each location - strengthening safety, providing additional flexibility for riders and an additional earnings opportunity for drivers.

Other safety initiatives announced in light of COVID-19 include:

●     New health and hygiene feedback system: Uber is adding new options for feedback in the app. This includes an option to report if a rider or driver is wearing a mask or not. Anyone who is repeatedly flagged for violating the new safety policies risks losing access to Uber’s apps.

●     Safety education materials: Working with the World Health Organization and the latest public health advice, Uber has compiled safety tips and recommendations specifically geared toward ridesharing. This will be used to educate riders and drivers on unsafe behavior.

●     Financial Compensation: Financial assistance will be provided for up to 14 days to any driver who is diagnosed with COVID-19 or is individually asked to self-isolate by a public health authority while their account is on hold.

These new safety measures will stay in effect until the end of July, when they will be reviewed based on the latest official health guidance.

HUAWEI Y6p and HUAWEI Y8p are ready to Rock the Stage

The newest offerings from Huawei took the entry-level market by storm, clinching a coveted spot in its price segment. The HUAWEI Y6p goes for PKR 20,899/- while the HUAWEI Y8p is priced at PKR 37,999/-

Huawei has made its youth-centric offerings HUAWEI Y6p and HUAWEI Y8p available in Pakistan. These two new entrants join the line-up of Huawei’s extremely popular Y Series – catering to the entry-level and midrange price segments. The HUAWEI Y Series is an embodiment of youth, vibrancy and pizzazz. It opened to a successful pre-order phase, where the HUAWEI Y6p sold out all pre-order stock in less than a week. While the devices have received widespread consumer aplomb, it goes on for sale across Huawei outlets and Daraz.pk starting today.

Huawei’s Y Series is a mix of flagship technological features and a pocket-friendly price point. People get to experience the very best of Huawei in their suited budgets – with the devices standing out in design, display, camera, memory, processing and battery. The HUAWEI Y6p is one such device – which brings a 13MP Triple Rear Camera and 5,000 mAh battery to the entry-level segment.

The feature-rich HUAWEI Y6p that goes for PKR 20,899/- boasts a power-packed experience that lasts long. Fitted with a 3GB RAM and 64GB ROM, it is perfect for this social media savvy consumer segment. A 13MP Triple Camera at the back takes great photos along with a 5MP Ultra Wide Angle Lens and 2MP Depth Sensor while the front shutter clicks stunning selfies with its 8MP lens. With an immersive 6.3-inch HD+ display, the smartphone creates a great viewing aura. It also has one of the fastest fingerprint sensors and comes in beautiful colours of Phantom Purple, Emerald Green and Midnight Black.

If you're looking for a great photography experience, then your search should end at HUAWEI Y8p that has Huawei’s true 48MP AI Triple Camera and a stunning display. Priced at PKR 37,999/-, its rear camera setup enables spectacular imaging even in low-light. The front selfie shooter is a 16MP lens that creates strikingly brilliant selfies. Delivering an outstanding performance with the Kirin 710F chipset and EMUI 10.1, it also packs 6GB RAM and 128GB ROM. The battery is a 4,000 mAh powerhouse which can perform all day and night. It has a 6.3-inch HUAWEI Dewdrop OLED display, with an FHD+ resolution (2400 x 1080) and an In-Display Fingerprint sensor. The phone comes in the colours of Breathing Crystal & Midnight Black.

Moreover, the Y6p and Y8p come with pe-installed HUAWEI AppGallery to provide users with access to many famous global and local apps. It’s the third largest app marketplace in the world taking full advantage of Huawei Mobile Services (HMS) and a variety of cross-platform apps. These devices can also access AppFinder and other third-party app stores to download more apps.

Both of these powerful smartphones are Huawei’s exciting offerings for the youth. They revolutionize the Y Series with their synonymous brilliant HD cameras, super long-lasting batteries and great multitasking performance. This new line-up promises more premium-phone features and sophisticated designs, for the first time in this affordable device segment. The HUAWEI Y6p comes at an amazing price of PKR 20,899/- while the HUAWEI Y8p costs PKR 37,999/-.

‘71% businesses in Pakistan admit to cash flow problems’, ACCA’s latest survey reveals

Findings for Pakistan reveal organisations are focusing on the long-term return to strategic opportunities for the future beyond 6 months, as they look ahead post-pandemic

Organisations face increasing operational challenges as a result of the domino effect of Covid-19. Irrespective of size, sector or country the economic and social impact of the pandemic has expanded, and challenges are growing for business and the accountancy profession, reveals ACCA’s Covid-19 global survey ‘The Road to Recovery’.

Following March 2020’s original report, three months on the picture now crystalises many key issues that need to be addressed by policymakers and governments. ACCA is calling on governments worldwide to review economic rescue packages and enable a return to sustainable growth.

For Pakistan, the overall picture is one of a slow return to normal. The survey asked respondents in Pakistan a number of questions specific to their role or organisation sector and the results show:

• 55% say employee productivity is negatively affected
• 48% of organisations are focusing on the long-term return to strategic opportunities for the future beyond 6 months
• 52% say customers have stopped or reduced their purchases
• 71% admit to cash flow problems.

Sajjeed Aslam, head of ACCA Pakistan says: ‘Our data for June reveals continued cash flow challenges, with half of respondents in the Pakistan saying this is a problem. Since the March research, the new data reveals greater concerns over financing and debt issues, and given the global economic climate, it means these will be difficult matters to resolve.

‘The key issue at the centre of these issues is a collapse in customer demand for many organisations, with more than half of respondents citing purchases as completely stopped or reduced here in Pakistan. It’s a domino effect, with both product launches and investment plans being deferred, further compounded by supply chain challenges and issues with customer order fulfillment.’

Other results for the Pakistan show:

• 72% have now adopted flexible working from home strategies, with 42% adopting staff rotas to accommodate social distancing requirements.
• 47% are implementing an operating cost reduction strategy
• 40% are reviewing organisation processes to identify efficiencies
• 27% evaluating their social responsibility to the wider communities affected by the outbreak

The poll also asked respondents about the effectiveness of recent government schemes, and found less than a quarter of respondents from Pakistan rating the economic stimulus package as effective. Challenges remain across many other countries.

Sajjeed Aslam concludes: ‘The pandemic has had a profound effect that will resonate well beyond 2020. But it is good to see respondents planning ahead, thinking of the longer term while managing the present, and also thinking of the bigger picture about their responsibilities to the wider community that’s also been impacted by Covid-19.’

Jamie Lyon, the report author and head of business management at ACCA, explains the ACCA’s roadmap to recovery advice detailed in the report: ‘Through our “roadmap to recovery”, we’re recommending that organisations follow the “three As” – Act and respond sustainably to the immediate crisis in the short term; Analyse the different information sources to start to build the path to recovery in the medium term and Anticipate how strategies need to evolve over the longer term.’

ACCA’s roadmap to recovery is available here. This June survey of over 4,500 ACCA members follows the publications of ACCA’s report COVID-19 Global Survey: Inside Business Impacts and Responses in April 2020, and continues to track ACCA sentiment around the world on the impact of COVID-19 and examines how organisations are responding.

A Battery Beast at 5,000 mAh: Meet the new HUAWEI Y6p

This long-lasting power-packed smartphone is up for pre-orders till Monday, 29 June, 2020 on Huawei outlets and Daraz.pk. So grab the HUAWEI Y6p with double-deposit offer where you get to pay PKR 20,999/- only.

Love playing games on your phone all day? Or maybe even watching entire movies on the go? If you are someone who does this, you will definitely be one to carry a power bank or a charger with you at all times. But what if you didn’t have to? What if your phone was a power bank by itself? No, we are not talking about bulky smartphone cases or big heavy duty smartphones. Meet the HUAWEI Y6p, the latest stylish and elegant entry-level smartphone from Huawei that boasts one of the largest smartphone batteries you may have ever seen.

Running out of battery while playing a game, during a phone call or watching a movie is always the worst and plugging into a power bank is just not comfortable on the go. Keeping this in mind, Huawei implemented a massive, super-long lasting 5000 mAh battery into its new HUAWEI Y6p. That’s right, 5000 mAh! That’s enough for up to 16 hours of movies or 20 hours of Internet surfing or even 3 days of normal use! Just imagine what all you can do with this! Complete entire seasons of your favorite show, or watch all the parts of a movie trilogy, finish as many games as you can, all of this on a single charge!

On the other hand, you can also use the HUAWEI Y6p as a power bank to recharge other devices, with the help of an OTG cable to easily recharge other devices on the go, perfect to recharge your wireless earphones, wearables or even a second smartphone! In addition to charging for others, HUAWEI Y6p’s Backup mode allows for quick data backup and transfer at up to 60Mb/s between it and the other Android smartphones.

The HUAWEI Y6p has a lot more to offer on top of its super battery. In fact, it comes with a 13MP Triple Camera on the back that consists of a 13MP main camera with low-light photography capabilities, a 5MP wide angle camera with 120 degree field of view and a 2MP depth camera for rich bokeh effects, ensuring that you can enjoy exploring your photography skills with stunning results every time. Selfie lovers, you are not forgotten! Upfront, the HUAWEI Y6p has an 8MP selfie camera with its own beautification algorithms for that perfect selfie!

On the other hand, if you are someone who uses your smartphone for intensive tasks, be it gaming or even for work, you need a smartphone that is smooth, efficient and powerful. With its 3GB of RAM ensuring everything runs smoothly and 64GB of storage space ready to store all your files and photos, the HUAWEI Y6p delivers on the performance front as well. At its heart, it is powered by the MTK Helio P22 with EMUI 10.1 to support it. Confused? All you need to know is that when you are switching between apps or even playing intensive games, you can rest assured that everything will run smoother than ever.

Are you a music lover? If yes, the HUAWEI Y6p is your perfect choice to enjoy all your favorite tunes. The HUAWEI SuperSound feature in the HUAWEI Y6p brings a synergy between hardware and software greater speaker volume, louder sound, deeper bass and high quality sound effects, ensuring that you don’t miss a single beat or tempo. On the other hand, if you prefer listening to the radio, you can always opt for the HUAWEI Y6p’s FM radio, which does not require earphones to act as an antenna. Just turn it on and listen away. The HUAWEI Y6p also comes with Party Mode, which connects different phones in the same network to play different channels of the same song, for a more immersive and surround sound effect.

Speaking of surround sound, the HUAWEI Y6p comes with a 9.1 channel sky surround sound, which is perfect when you are watching movies for that theater like effect. When you say theater like effect, you need the right display to go with the audio. The ideal solution would be a large screen, with great resolution and minimal bezels. The HUAWEI Y6p comes with a 6.3 inch HUAWEI Dewdrop display with an HD+ resolution of 1600 x 720. This means every single detail will be rich in color and crisp with detail, for that immersive viewing experience.

The HUAWEI Y6p is also quite a good looking phone, thanks to its stylish design with nature inspired colors such as Emerald Green, Phantom Purple and Midnight Black, each unique in its own way.

Huawei’s latest entry-level smartphone shakes up its segment with its massive 5000 mAh battery, making it the perfect phone for heavy users. Be it a gamer, a music lover or a movie lover, the HUAWEI Y6p is one of the best choices for them all, especially due to its battery, audio features and stunning display. If you are someone who often carries a power bank or a charger, this new smartphone is one of the best solutions for you as well.

Grab this smartphone in the pre-order phase till Monday, 29 June, 2020 to reap the benefits of the double-deposit offer by paying PKR 20,999/-.

realme's flagship device realme X3 SuperZoom Launched in Pakistan. Pre Order Today & get Free realme Fitness Band!

The realme X3 SuperZoom is now official. realme Pakistan unveiled the realme X3 SuperZoom on June 25 through a digital event, scheduled at 03:00 pm on Facebook live. The realme X3 SuperZoom is “realme’s Flagship device for 2020” and that the phone has 60x zoom and Starry Mode. The realme X3 SuperZoom has been offered at 79,999 only & this is definitely and uncontested price range for a flagship device like X3 SuperZoom. On pre ordering, live from today you will get Free realme Fitness Band.

The realme X3 SuperZoom gets its name from the 8MP 122mm 5x periscope zoom lens, which through software and with the help of the 64MP main sensor can snap up to 60x hybrid zoom shots. The rest of the rear cameras are an 8MP ultrawide and a 2MP macro. The main camera offers Nightscape 4.0 complete with Pro mode with manually-adjustable settings like ISO, shutter speed, white balance and autofocus, as well as AI Mode, which does everything on its own. The Starry mode feature in this device will get you breathtaking pictures of sky & stars. A treat for Astrophotography lovers There's also a Tripod mode.

On the front the realme X3 SuperZoom packs a dual camera in a pill-shaped punch hole in the display. The main selfie sensor is a 32MP Sony IMX616 and on the side of it there's an 8MP ultrawide angle second shooter. The main sensor offers Nightscape Selfie capture - Night mode for selfies.

The X3 Superzoom has a 6.6-inch 1080p LCD screen with a 120Hz refresh rate. There’s a cutout for a 32-megapixel selfie camera and an 8-megapixel ultrawide. The fingerprint scanner is a side-mounted sensor that realme claims is good for 0.3s unlocks.

The X3 SuperZoom uses a Snapdragon 855+ chipset with 12GB of RAM, vapor chamber cooling and UFS 3.0 storage with Turbo Write, which was the last flagship-class chip Qualcomm made before it started forcing everyone to include 5G modems alongside the 865. There’s a 4,200mAh battery that charges at 30W over USB-C. The speakers and haptics are pretty good, and realme is claiming “three waterproof layers” in the phone’s chassis — there’s no formal IP rating, though.

The realme X3 SuperZoom is powered by the 7nm Qualcomm Snapdragon 855+ mobile platform, which integrates an eight-core Kyro CPU and Adreno 640 GPU. It clocks up to 2.96 GHz, providing super powerful performance and letting you run heavy games and applications smoothly. Compared to the Snapdragon 855, there is a 5% uplift to the single CPU core and a 15% boost to GPU rendering performance. It further supports Snapdragon Elite Gaming and Quad HD+ display for a formidable, enhanced gaming experience. The AI processing chip is also three times faster than the previous generation, swiftly and intelligently carrying out core operations.

The realme X3 SuperZoom is on pre-order starting today and will go on its first sale on July 2^nd 2020 . It comes in Glacier Blue and Arctic White in a single 12/256GB configuration, priced at Rs. 79,999/-

Specifications	realme X3 SuperZoom
Dimensions & Weight	163.8 x 75.8 x 8.9 mm 202g
Display	6.57-inch dual-hole-punch FHD+ LCD 1080 x 2400 120Hz refresh rate 20:9 aspect ratio Gorilla Glass 5
SoC	Qualcomm Snapdragon 855 Plus Adreno 640
RAM & Storage	12GB/256GB
Storage Type	UFS 3.0 + Turbo Write + Host Performance Booster (HPB)
Battery	4,200mAh 30W Dart 3.0 fast charging
Fingerprint Sensor	Side-mounted fingerprint
Rear Cameras	Primary: 64MP Samsung ISOCELL GW1 primary sensor, f/1.8 Secondary: 8MP 119° wide-angle sensor, f/2.3 Tertiary: 8MP 5x periscopic telephoto, f/3.4 Quarternary: 2MP macro camera, f/2.4
Front Cameras	32MP Sony IMX 616, f/2.5 8MP 105° wide-angle sensor, f/2.2
Android Version	realme UI based on Android 10

Digital Pakistan: ACCA hosts mega Virtual Job Fair

ACCA (the Association of Chartered Certified Accountants) organised a mega Virtual Careers Fair for the business & finance students and professionals in Pakistan. Featuring country’s over 60 top employers, the online fair offered an opportunity to over 3,500 attendees to connect with leading recruiters, learn from global career experts and build valuable connections.

Despite the limitations of current pandemic, ACCA embarked upon creating opportunities for the country’s youth by bringing another first of a kind experience in Pakistan. ACCA continues to lead the accountancy profession in Pakistan and supports employability of its members by unlocking the power of digital and employing innovative solutions.

Looking for best talent in business, accounting and finance, the online fair was attended by leading employers such as Nestlé Pakistan, KPMG, HBL, Deloitte, Unilever, S&P Global, PTCL, K-Electric, EY, Gadoon Textile Mills, Telenor Group, Master Tiles & Ceramics, PwC, Ufone, and Sitara Labels.

Commenting on the success of the job fair, Hammad Azim, ACCA’s head of marketing, said:

“Keeping in mind the challenges presented by Covid-19, to keep doors open for our students and members to new opportunities, ACCA has doubled down on innovation. Our virtual careers fair is just another example of how organisations can lead through these difficult times by embracing innovative thinking and adapting to digital solutions.”

In his welcome address, ACCA’s head of markets – business development, Assad Hameed Khan, said:

“We work with top organisations in Pakistan, and around the world. And employers trust ACCA and value our future-ready, world-class business and finance talent. For this fair, we’re excited to be joined by top brands offering an exciting mix of jobs. And we’ll continue to undertake similar initiatives to help realise all the career ambitions of our country’s youth.” 

The event received a very positive feedback from all participating employers and attendees who appreciated the overall experience of the event. The presence of major employers and the quality of jobs advertised at the fair reinforced the value of the accountancy profession. Employers also shared their satisfaction regarding the strong pool of highly motivated and qualified individuals that would help them build stronger, future-ready organisations .

The fair remained live from 08 in the morning till 08 in the evening. On average an attendee spent 1 hour and 17 minutes exploring different sections of the fair. In addition to recruiters chatting live with participants, senior career experts also delivered talks and shared valuable advice with current and aspiring professionals.