Australia’s technology industry: What to expect in the next few years

Realistic expectations for the technology sector in Australia 

RSM’s 2022 technology report looks at the current challenges facing the industry, while offering hope for “unglamorous” companies likely to weather the current economic storm without too much damage. Featuring recommendations and insights from a broad range of experts, this report paints a picture of the challenges and opportunities at play that is grounded firmly in reality – not science fiction.

Inside the report

Adjusting to economic turbulence – unit price economics and realistic capital allocations

How long will the bear market last? How will that affect valuations and capital allocations? What are investors likely to look for? How should startups approach raising capital?

Skill shortages – global competition for tech talent, policy changes and hiring remote workers

How will the changes to permanent migration and visa-processing bottlenecks affect recruitment challenges? What complications can arise from remote workers? What can we expect in terms of local talent? What other factors are at play?

Subsectors promising growth – opportunities for the next decade

Which subindustries have proven strengths and which struggle to perform? What impact will policies like emission reduction targets have?

Digital transformation – data analytics, SaaS, cloud storage, and cyber security

How do you safely navigate a digital transformation? What can we learn from the rapid transformation of healthcare and healthtech innovations? What is the best approach for cyber security and avoiding a data breach? How does remote work factor in?

Responsible financial management

Where to save pennies to stay cashflow positive? What are the common traps to avoid? How to approach expanding into foreign markets.


Modern Card Issuance: The “new normal” in Banking

What does modern card issuance mean in 2022?

For banks, modern card issuance means delivering an immediate, digital-first payment experience. It also implies the delivery of an intuitive mobile app combined with the swift roll-out of an integrated solution. This involves redefining card issuance to combine traditional payment cards with virtual cards, digital cards (via in-house and OEM wallets) and scalable, resilient payment solutions. Modern card issuance opens the door for more innovative perks and customised credit card programs, including personalised rewards, compelling APRs, more redemption opportunities, adaptable credit lines, and crypto payments.


How to maintain quality CX in tough times

Few sectors have experienced a greater boom in recent years than the FinTech industry. From a time when the banking and financial services market was dominated by a handful of traditional brick-and-mortar banks, today’s consumers are increasingly attracted to the convenience of real-time, 24/7 solutions offered by a range of neobanks, payment apps and other FinTech innovators. So rapid has been the rise that it is no surprise PWC has reported that 88% of incumbent financial institutions believe part of their business will be lost to standalone FinTech companies in the next five years.

For all the good news though, the FinTech industry is not immune to two issues creating headaches for the corporate world – budget pressures and access to talent. Amid soaring inflation, supply chain issues and the lingering impact of the COVID-19 pandemic, many businesses are looking to reduce costs in preparation for the likelihood of rocky roads ahead. Simultaneously, a global labour shortage is making it increasingly difficult for firms to attract and retain talent. Given such pressures, FinTech companies need to think outside the square to ensure they maintain the strong foothold they have gained in the market.

One of the areas most at risk of slipping when budgets are cut and staff turnover increases is customer experience, which is bad news as it is also among the most pivotal reasons for attracting the modern consumer. Research has found that 86% of people are willing to pay more for great customer service, just as 69% of customers who plan to leave their financial institution say it is due to poor service rather than poor products.

Amid all the talk of cost-cutting and labour shortages though, all hope is not lost and that is because there are various ways for FinTech companies to approach operations differently without sacrificing customer experience – and, in many cases, even improve it. This includes tapping into the benefits of outsourcing to revolutionise contact centres, enhance back-office efficiencies or handle the often emotive field of credit and collections.

Along with allowing in-house staff to concentrate on what they do best through outsourcing non-core business functions, the innovative workforce strategy can deliver labour cost savings of up to 70% due to the lower cost of living in offshore hubs such as the Philippines. Alternatively, many organisations prefer onshore solutions that provide similar access to many benefits of outsourcing and keep operations closer to home.

Digital transformation is also rewriting the customer experience script, with many FinTech firms using technology to deliver productivity gains while offsetting workforce and budget pressures. From artificial intelligence and robotic process automation to interactive voice response and virtual agents, there are an increasing number of tools and solutions available to create more seamless and enjoyable customer journeys and, in turn, boost profits. In a world where people not only expect but demand 24/7 support and faster interactions, technology is the key to ensuring they receive it.

As disruptors by nature, FinTech companies have used innovation and enterprise to not only break into the banking and finance sector but shake it up. For the same reason, they should view the current economic and labour climate as an opportunity rather than a threat. There are smarter ways to do customer experience and combining the power of outsourcing, strategy and technology is a sure-fire way to navigate a better path through the current landscape.

To learn more, visit

CEO Sleepout

On 23 June 2022, leaders in business, community and government will once again sleep without shelter on one of the longest nights of the year to help change the lives of Australians experiencing homelessness. 


Homelessness is one of the key issues of our time and it doesn’t discriminate. Approximately 116,000 Australians of all ages and backgrounds will experience homelessness on any given night.  Attending the Vinnies CEO Sleepout will give you the opportunity to understand a little more about what Vinnies does to address this issue whilst raising money to help fund vital services for homelessness around NSW.

On the night, you will come together and meet with other like-minded business and community leaders who are looking to lead by example. You will also gain new insight through listening to the personal stories of people who have previously or are still experiencing homelessness and disadvantage. 

If you would like to nominate a peer or colleague, you can do so here:


If you would like to register, you can do so here

and if you have any questions at all please reach out to the event manager, Katrina Ortolan –


Navigating rental relief with Law Squared

We know a lot of our friends with commercial and retail leases are doing it tough – whether that’s because they’re running on reduced capacity, or their businesses are currently shut – however, there is finally some rental relief reprieve from state governments in addition to the rental relief measures in place from last year.

The NSW and VIC governments have just released updated Regulations which allow each business on a commercial or retail lease to seek rental relief from their landlord.

To help you kick start these conversations with your landlord, our friends at Law Squared have once again created some free resources which will provide guidance on the arrangements you can come to with your landlord given the difficult economic times caused by COVID-19.

These include:

  1. Rental Relief Fact Sheet and Letter to Landlord (Victoria): Given the substantial differences between the 2020 Regulations and the recent Regulations, the Law Squared Fact Sheet provides great insights on the differences. You can then utilise the template letter which should form the basis of your rental relief request with your landlord. There are a series of input fields and comments throughout the letter to assist you in customising the letter for your business/leasing needs.
  2. Rental Relief Calculator (Victoria): The Regulations outlines a number of tests to be applied to determine the rent waiver and deferral amounts. Law Squared have created a calculator to assist you in determining the relevant amounts.
  3. Rental Relief Letter to Landlord (New South Wales): You can then utilise the template letter which should form the basis of your rental relief request with your landlord. There are a series of input fields and comments throughout the letter to assist you in customising the letter for your business/leasing needs.

These resources are now available for free through the Law Squared website.

If you have any queries related to the rental relief resources, please do not hesitate to reach out to Law Squared Founder, Demetrio Zema ( or a member of the Law Squared team. They are more than happy to assist you during these unprecedented times.

7 Ways to Secure Funding for your Tech Startup

Australian technology startups have certainly shone on the global stage in recent years. Brilliant minds across software, artificial intelligence, machine learning, automation, and other related fields have contributed major innovations within the tech space.building start-up tech

Getting any new business off the ground is no easy feat though. And in a hyper-competitive field such as technology, it can be particularly challenging.

If you’re embarking on a new venture, it’s likely that funding is weighing heavily on your mind. Whether you’ve only just begun or are almost ready to go to market, funding could be the ticket to get you to the next stage in your business journey.

Here are 7 ways to help you drum up cash so you can take those all-important next steps – be it testing new ideas, hiring new employees, or preparing to launch.

Read full article here

Boost your tech business’s cash flow with government incentives

How can you boost your tech business’s cash flow with government incentives?

When you launch a startup, it’s natural to think being cash strapped comes with a territory. After all, you’ve likely seen plenty of movies and heard stories about the endless struggles of entrepreneurs who endure years of hard work before making a single penny.

However, our experience in the real world proves this doesn’t always need to be the case.

Although it’s reasonable to expect long hours as you invest all your time and energy into getting your venture off the ground, there are smart steps you can take totech business’s cash flow with R&D grants minimise the time it takes to reach a cash flow positive state.

And while you may be consumed by the technical activities of your business (where your passion lies), partnering with an advisor who can help you identify and take these smart steps can make all the difference.

One way an advisor may do this is by leveraging all available tax incentives and grants. Some of these are particularly valuable to technology companies and can provide a much needed cash injection into your business.


How to structure your tech company to get the most from your people

Often, tech companies get started on a wish and a prayer.

The founders have a great idea, apply for an Australian Business Number (ABN), or set up a company, and don’t give the structure of this new business a second thought as they barrel forward with hours upon hours of development activities.

While setting up a company might provide some sense of security in the short term, the longer that founders go without properly evaluating their structure, the more difficult and expensive it is to change in the future.

This may not mean much in the early days, but when the value of intellectual property begins to increase so too do founder’s concerns about protecting it.

Start with the end in mind While setting up a company might provide some sense of security in the short term, the longer that founders go without properly evaluating their structure, the more difficult and expensive it is to change in the future.  

Every business needs a structure that is fit for purpose.

This means it aligns with the founder’s vision and goals for the business, such as whether they wish to:

 – grow the business
– run and hold the business
– publicly list the business
– sell the business

Even if the ideal structure or end state is not yet known, most (if not all) possibilities can be accessed if the structure provides enough flexibility from the onset.

A company is not always the best structure, and the same applies with a trust. The right structure considers a wide variety of elements – from who is involved in the company to the types of products and services you offer, to how and where you operate.

The disbursement of profits, application of capital gains tax, implications of tax across multiple jurisdictions and so on, can have a big effect on your ability to reach a cash flow positive state sooner rather than later.



This was initially posted on The Fold Legal blog.

The Australian Finance Industry Association (AFIA) has released a new voluntary Buy Now Pay Later (BNPL) Code (Code) to address criticism that the industry is under-regulated and to enhance consumer protections. The objective of the Code is to encourage a customer centric approach, promote industry standards and drive an uplift in compliance. In doing so, the Code imposes several conditions and protections that go beyond the current legal and regulatory regime for BNPL providers. (more…)

Funding a fintech: how can startups and scaleups attract private equity investment

As the rollout of the COVID-19 vaccine helps to encourage economic recovery, Australian Fintech companies, from start-ups to scale-ups, are in the sights of Private Equity (PE) investors.

PE firms have become increasingly more active in the Fintech sector, with $137.5 billion invested globally in 2019. (more…)

Upcoming Events
  1. Architect your Fintech ‘Bank-Grade’- with Oracle Cloud

    February 15 @ 9:30 am - 1:30 pm

    February 16 @ 9:00 am - 10:00 am
  3. #ACCELERATERegTech2023

    April 26 @ 8:00 am - April 27 @ 5:00 pm

Ep 2: Fintechs Acceleration of Growth Since COVID

Ep 1: The Evolution of Payments

Scaling Product Globally


Lee Hatton – Afterpay: FinTech Australia Podcast

Anthony Jones – Visa AUS/NZ

Tim Cameron – TransferWise