Packaging Security’s Battle Against Counterfeiting
KNOWLEDGE & EXPERTISE Press & Blog Packaging Security’s Battle Against Counterfeiting In today’s global marketplace, the issue of product counterfeiting has become increasingly prevalent and concerning. Counterfeit products not only deceive consumers but also pose significant risks to their health, safety, and overall trust in brands. As a result, ensuring product security has become a crucial aspect of business operations across various industries. To combat the growing menace of counterfeiting, businesses are implementing robust product security measures. Product security involves implementing strategies and technologies to protect products from unauthorized duplication, tampering, and fraudulent activities. These security measures aim to safeguard the integrity, authenticity, and safety of products, ensuring that consumers can confidently purchase genuine items without any concerns about their quality or safety. Tamper-evident Seals Specifically designed these specialized security seals to safeguard products from tampering and unauthorized access. When the tamper seal is opened or altered, it swiftly reveals a permanent void effect, making it impossible to reattach. This clear indication of tampering ensures that any compromise to the product is easily identified. Additionally, this feature effectively prevents repackaging issues and unauthorized product substitution by irresponsible parties. Link:https://www.packtica.co.th/our-solutions/products/tamper-evident Holographic Labels Holographic labels feature unique, three-dimensional patterns that are highly challenging to replicate. Serving as a visual authentication feature, they enable consumers to distinguish genuine products from counterfeits with ease. Link:https://www.packtica.co.th/our-solutions/products/holographic-label Unique Identifiers Packaging can incorporate distinct identifiers such as serial numbers, barcodes, QR codes, or RFID tags. These identifiers facilitate comprehensive tracking and tracing of products throughout the supply chain, empowering companies to authenticate their products and monitor their movement accurately. Specialty Inks and Printing Techniques Advanced printing techniques, such as UV printing or invisible ink, can embed covert security features into packaging. While these features may be imperceptible to the naked eye, it can detect them using specific tools or under specific lighting conditions, providing an added layer of protection. Conclusion In conclusion, packaging security plays a vital role in contemporary business practices, safeguarding both products and consumers. By prioritizing secure packaging, businesses can effectively shield their brands from counterfeiting, uphold product integrity, foster consumer trust, and comply with regulatory standards. The significance of packaging security extends beyond physical protection—it contributes to the overall customer experience and plays a pivotal role in cultivating strong, reputable brands. In an era where consumers demand authenticity and safety, investing in packaging security emerges as a wise strategy for long-term success. Share Via BACK TO LISTING You May Also Like All Posts Read More Elevate Your Brand with Smart QR Code Label Printing with Suppliers in Malaysia Read More Hologram Security Label Read More Secure QR Codes
WHY YOU SHOULD OPT FOR QR CODE PACKAGING FOR YOUR PRODUCTS?
KNOWLEDGE & EXPERTISE Press & Blog WHY YOU SHOULD OPT FOR QR CODE PACKAGING FOR YOUR PRODUCTS? From the restaurant’s menu card, and product packaging, to payment options, you will find QR codes everywhere across various industries. QR code is like a barcode but instead of it has an array of black and white squares that are used to store the URL of the information you want to share with customers. Unlike barcodes, QR codes can be easily read by s smartphone camera and are used for a range of different purposes across different industries. So, if you are wondering what’s so special about QR code packaging and why is it widely used across the world, here are some reasons why QR codes are so popular and why you should also opt for it. Quick Launch Whether you are selling consumer products or furniture items, your buyers do not want to wait for a customer representative to answer their queries. A QR code will help you connect with your customers ASAP. With a smartphone, buyers can get to whatever information they want to share with them with just a few clicks. Whether it is the nutritional value of your products, or how to use your products, QR code packaging is a great way to share information in a second without having to wait for a customer representative to answer queries. A Source for Better Data Analytics Data analytics has taken over the world by storm and businesses are using it to increase their sales, customer satisfaction, employee satisfaction, and whatnot. QR code packaging is a great source to gather accurate data for efficient data analytics. With a QR code scan, data is automatically transferred to your database, you will know when and where your product is bought and what customers are looking for. This will help you know which products are most in demand, which cities or areas, these products are mostly sold in, and where people are not buying them. Hence, QR code packing is not only a source of quick connection, but it is also a valuable source to gather relevant and accurate data for data analytics. Real-Time Information Update Do your business information change frequently? Or does the information you are sharing with your clients changes over time? And you are fed up with constantly changing your packaging because of these changes? Dynamic QR code packing will solve all your problems. Dynamic QR codes give you the liberty to change the information you are sharing with your customers at any time without having to worry about the printed QR codes. All you need to do is change the URL of the information you are sharing, and all your QR codes will direct you to the new information. Isn’t it time and effort-saving? Gateway For Digital Marketing Gone are the days when print media was the source of marketing your product or services. Nowadays, digital marketing is the most popular and effective source of marketing products and services. Digital marketers use QR codes to lure buyers to information they would like them to see. It can be a link to your product advertisement or you can also direct them to your website through QR codes. Smart Packaging Whether it’s home renovation or buying products, the world is moving towards smart options. You can increase your sales and attract customers through smart packaging. QR codes are a step towards smart packaging. You can use these codes to educate and inform your customers about your product. Moreover, QR code packaging is also a smart solution for warehouse inventory management. With QR codes you can have access to real-time information on product production status, and your can easily share this information with your clients. No Compromise on Aesthetics Well, no one wants to damage the aesthetically designed product packaging, and so do you. The good news is QR codes will not damage your sleekly designed packaging. QR codes are customizable, and you can get a QR code that matches your product packaging. No worries at all!! Hope, we have cleared your doubts about QR packaging, and now you are looking for a trusted QR packaging services provider in Malaysia. Look no further! PACKTICA SDN BHD is here to help you with it. Whether you need Smart packaging services, void sticker, holograms, or brand protection, PACKTICA is your one-stop solution. Share Via BACK TO LISTING You May Also Like All Posts Read More Elevate Your Brand with Smart QR Code Label Printing with Suppliers in Malaysia Read More Hologram Security Label Read More Secure QR Codes
Benefits of Product QR Codes on Packaging
KNOWLEDGE & EXPERTISE Press & Blog Benefits of Product QR Codes on Packaging If you’re not familiar with them, a QR code system is a two-dimensional barcode system that can be scanned by a Smartphone’s camera with special software. By just scanning a QR code, an end user may instantly obtain more information about a service, a product, or an initiative. Most product QR code systems will offer a shortcut to real-time updated internet material, eliminating the need to memorize lengthy addresses. Also, you get to save a copy of this data in a digital archive that you may access whenever you need it. By utilizing our distinctive QR codes and active serial numbers, Packtica can assist your goods in becoming distinctive and standing out from the competition. CheckNow TM will provide a complete tracking route for QR Code scanning activities, including the name, date, and location of the scanning activities. We assist you in digitizing your goods and bringing them to life online by providing a special QR Code in the Consumer Intelligence CloudTM. Benefits of QR codes for product packaging: Product information: If you’re in business, you understand how crucial it is to tell your clients about your products. The only approach to assure product transparency and win their trust, after all, is to do that. However, one drawback of conventional product packaging is the little amount of printing area. You are unable to provide accurate information because of it. Yet you’re covered by QR Codes. Without worrying about the limited package area, they may assist you in providing as much information as you like. You only need to generate a Product QR Code and add the necessary information to it to do this. Any type of content, including pictures, text, website links, and even social network sharing buttons, might be used. Provide discounts and coupons: You are surely aware of the value of discounts and coupons. They are employed to draw in new clients while retaining current ones. And a QR code for a coupon might make the procedure simpler for you. It offers two advantages: The whole coupon redemption procedure is now contactless thanks to QR Codes, first. It implies that you only need to include them on the product package, after which buyers may scan them to redeem them. Also, users don’t need to manually write the code or memorize it while using a coupon QR code. To use it, users only need to scan the QR Code and click the Redeem button. Everything beneath your house is trackable, recognizable, and engaging thanks to our exclusive QR Code. It may be used in RFID tags, security labels, tamper-evident labels, and smart packaging. Getting feedback: Regular consumer feedback is crucial for a business and is extremely prevalent. Those comments provide insightful information. They aid in determining whether or not your clients are satisfied with your offerings. You can pinpoint your areas for improvement using this data. Yet, getting client feedback is not simple. This is because users must first laboriously input the feedback form’s URL into the browser to access it. They won’t be able to access the form till after that. A QR Code system, however, can simplify the entire procedure. Just design a feedback QR Code and place it on the box of your goods. Increase social media or website traffic: Currently, practically all companies have websites. Also, you would want people to go to it if you have one for your firm. And a QR code for a website’s URL can assist you in doing that. Just make one and affix it to the product packing. It will quickly direct readers to your website after being scanned. A social media QR code works similarly to grow your following on social media. Users who scan this QR Code are taken to a web page with buttons that link to all of their social media profiles. Share Via BACK TO LISTING You May Also Like All Posts Read More Elevate Your Brand with Smart QR Code Label Printing with Suppliers in Malaysia Read More Hologram Security Label Read More Secure QR Codes
How To Secure Your Brand With Packaging?
KNOWLEDGE & EXPERTISE Press & Blog How To Secure Your Brand With Packaging? Selling identically packed products or using your packaging to sell another product is common and is one that many good brands are permanently closed. Product counterfeiting and tampering are real and can severely damage your brand identity. You must be wondering how you should protect your products from such attacks. Secure packaging is one way to protect your brand identity and is successfully used across the world. Here are some popular and successful secure packaging methods that are used across the world for product security. Let’s have a look!! Shrink Bands Shrink bands are commonly used for packing bottles and small containers used for condiments and other edible items. It is usually made of polyvinyl chloride (PVC) or polyethylene (LDPE) and comes in bundle form. These films are first wrapped around the product and then heat is applied which makes the film shrink and seal the opening of your product. Once opened, these wraps cannot be put back. Moreover, you can print these wraps with your logo or branding on them which will further improve the security of your product packaging. Tamper Evident Tape When you use cartons to pack and transport your products, there is no other way to pack them than to use tape. However, you have the option of using tamper-evident tape to curb the chances of tampering and counterfeiting your products. Tamper-evident tapes are similar to normal tapes but if these tapes are removed, they leave a trace for you to identify that your carton has been opened. There are three types of tamper-evident tapes. first, use a strong glue that doesn’t come off without damaging the carton hence you will know when the carton has been tampered with. Your second option is the void tape. It is similar to regular tape but it has the word ‘void’ written all over it and when the tape comes off, the word void is printed all over the carton. The third option is colour changing tapes. These tapes are temperature sensitive. SO, when someone tries to take them off, the temperature is changed which makes them change the colour, and you can identify the theft. Tamper Evident Cartons Another option for protecting your products from tampering and counterfeiting is using tamper-evident cartons for packaging your products. These cartons are specially designed according to the shape of your products and they cannot be opened without damaging the carton. So, if someone tries to open these cartons, they will not be able to assemble them back in the same form. Hence, leaving a trace of theft and tampering with your products. Use Inside Of Carton For Branding If you are afraid that your cartons can be stolen or tampered with while transporting them, a good way of protecting them is using plain cartons which has branding inside of them. This will make them difficult to be identified and you can also couple it with other security packaging methods to further increase the security. We would recommend you use a hologram sticker or void sticker along with these cartons. Pull Tight Tags If you are using big containers or wooden containers to pack and deliver products, pull-tight tags are a great option for you. They don’t come off unless you cut them open which makes them permanently damaged. Classic plastic pull-tight tags are suitable for small containers. For heavier and sturdier containers, you can go for metal swing tags which are sealed with copper or lead. Hologram Sticker Hologram sticker are specially designed vinyl stickers that have a rainbow-like feeling. Usually, 3 or 4 images are printed on these stickers and when you tilt it you see different images of colour. Some hologram stickers are pressure sensitive. If you remove them, they are damaged and cannot be put back. Others are designed to leave a specific keyword or pattern when they are removed alerting that the package has been tampered with. We hope now you know much about security packaging methods and that you are looking forward to using these methods for your products. So, whether you like the hologram sticker method, void sticker, or shrink bands, PACKTICA SDN BHD is here to help you. We deal in a vast variety of security packaging materials and methods. Feel free to contact us to secure your products. Share Via BACK TO LISTING You May Also Like All Posts Read More Elevate Your Brand with Smart QR Code Label Printing with Suppliers in Malaysia Read More Hologram Security Label Read More Secure QR Codes
The Importance Of Budgeting In Business & How To Do It
KNOWLEDGE & EXPERTISE Press & Blog The Importance Of Budgeting In Business & How To Do It A budget is a comprehensive financial plan for achieving the financial and operational goals of a company. When used correctly, a budget is the map of the company’s strategic plan. In creating the budget, the company is developing its objectives for the acquisition and use of its resources. Once in place, it becomes a valuable benchmark to determine how well the steps taken by management are ensuring objectives are attained. A budget is a plan to: Control the finances of the business Ensure that the business are able to fund its current commitments Enable the company to meet its objectives and make confident financial Make sure that the business has money for future projects. The benefits of budgeting: Budgeting can help a business to estimates revenue, plans expenditure and restricts any spending that is not part of the plan Budgeting ensures that money is allocated to those things that support the strategic objectives of the business A well communicated budget helps everyone understand the priorities of the business Formalizes the coordination of activities between departments while aligning these activities to the company’s strategic plan and that they are working towards the same goal Provides the assignment of decision-making responsibilities and enhances management’s responsibility The process of creating a budget provides opportunities to involve staff, resulting in them sharing the organisation’s vision Engaging the team in reviewing and comparing the budget with actual facts can provide information that highlights the strengths and weaknesses of business. Improves performance evaluations – providing a common base for discussion on how well the manager met his goals Providing a talking point concerning why actual results veered from the original budget A good budget shall include the following 7 components of; Bookkeeping Keeping record of the numbers is essential to keep track of where the money had gone to, and what amount had flown into the account that is available for use. A record of last year’s numbers or industry averages (for startups) can help a company roughly grasp the estimated financial in and out for the current year. If you’re running your business without a proper budget you may be actually just running around in circles and not meeting your long-term goals. By taking the time now to set a budget, you will free up time in the future and give yourself the best chance of achieving the rewards you want for your hard work. Share Via BACK TO LISTING You May Also Like All Posts Read More Elevate Your Brand with Smart QR Code Label Printing with Suppliers in Malaysia Read More Hologram Security Label Read More Secure QR Codes
Supporting Local Businesses Through The Help Of Technology
KNOWLEDGE & EXPERTISE Press & Blog Supporting Local Businesses Through The Help Of Technology Since the Covid-19 pandemic hit us and had the Movement Control Order (MCO) implemented, various industries and businesses have been negatively affected. However, many businesses have found ways to transform and evolve not only to survive, but also to find ways to survive amidst the new norm post- Covid-19. One particular industry that has drastically changed is online platforms, which typically work with drivers and delivery partners. They have since adapted to newer, innovative technology with small & medium enterprises (SMEs) to expand their coverage. When the MCO began on March 18, online platforms like Grab, Foodpanda, Zalora and others have broadened their platform reach to micro, small and traditional businesses. Hence, creating thousands of job opportunities for the people, particularly in the delivery services, personal shoppers and food preparation sector. The sudden expansion of these services allowed the people to have additional, or at the very least, basic income by monetising their personal vehicles. Nevertheless, people at home also spent time learning about baking and cooking, then offered their creations onto social media platforms to generate some side income while white collar workers have also shifted their business operations fully online by working from home. While the government has encouraged small businesses to go online and adopt digitalisation for years, the MCO magnified the importance of digitalisation within businesses to stay afloat in the new norm as social distancing measures are here to stay. Under the National eCommerce Strategic Roadmap, e-commerce was estimated to record a 20 per cent growth rate this year to RM170 billion. As more SMEs go digital, people will grow more comfortable with online platforms, trusting digital payments and eCommerce will expand to other forms of digitalisation. These include B2C communication, business operations, data collection & analytics, cloud adoption — all innovations that lead to increased productivity and higher service value. Businesses who adapted early to technology and digitalisation before the pandemic hit were much ready and even resulted in sales growth during the lockdown. As such, Hypergear Malaysia was one of Packtica’s clients who adopted the online CheckNow system prior to the pandemic. Watch the video below and find out how early transformation helped them thrive during the hard Collectively, transformations and digitalisation within businesses will produce a more robust business community and in turn, keep the economic growth on a positive trajectory, as more businesses return to 100 per cent capacity over the RMCO period. Meanwhile, eCommerce and adaptation to technology is the way to go for future businesses without the burden of having to stay at one point or location. Share Via BACK TO LISTING You May Also Like All Posts Read More Elevate Your Brand with Smart QR Code Label Printing with Suppliers in Malaysia Read More Hologram Security Label Read More Secure QR Codes
A Guide To Collecting Data For Business Growth
KNOWLEDGE & EXPERTISE Press & Blog A Guide To Collecting Data For Business Growth Businesses everywhere are constantly collecting data on their customers, using it for studies, understanding and business growth. With technology and the convenience of instant communication channels, an organisation’s ability to capture, analyse, and use data has never been better before. Having the sufficient amount of right data makes businesses much easier, giving organisations greater insight into what their customers and consumers want. 1. The importance of consumer data collection For many businesses, consumer data is the key to their success. But how does data help in businesses? Data is important and great for getting to know customer’s interactions with different departments within a business from the beginning. a. Better Customer Experience Customer experience is becoming a bigger deal with younger consumers who are willing to spend more in exchange for a better or an extraordinary experience. Customers are growing and getting used to businesses catering to their individualized needs with hassle-free shopping experiences, personalisation and Omni channel shopping platforms. Data is the essential element to learn about customers, of what they want, where they make purchases, and even who they are. If a business chooses not to ‘hear their customers out’, consumers will eventually shop elsewhere, looking for a better replacement. b. Better Marketing Strategies Marketing is way different than it once was. While personalisation is the key, marketing campaigns being stretched across multiple platforms largely increases product exposure, creating better and repeated product awareness. The more complete data an organisation has, the more accurate and successful their marketing campaigns will be as they will be able to know their target audiences better. Data allows businesses to rethink and refine their marketing strategies to improve conversions and sales through personalisation and curated campaigns. 2. The importance of consumer data collection There are multiple types of data to collect as the more detailed the data is, the more the business will be able to create loyal customers. The following shall be the primary types of data to be collected for any businesses a. Contact Details Contact details are essential to allow an organisation to communicate with its customers. Whether to introduce a new product or to get valuable feedback, it wouldn’t happen if there are no contact details for the business to connect with the customer. b. Personal details As not everyone is willing to give out their personal details such as name, gender, age and address, this is one of the best data to be collected as this allows an organisation to accurately deliver the right message to the right group of target audience. For instance, a customer’s name could be a good use in marketing to send personalised messages or email subjects. E-mails with a personalised subject line are more likely to be read than disposed before reading. Gender, age and address could be used for future business planning. These statistics could determine your next new product, location of your next physical shop and more. c. Business Discovery Data Getting customer experience data helps an organisation to understand how well their services and products are performing. This allows organisations to be informed of their services and products flaws (if any), dissatisfactions and room for improvement. They might also get brilliant suggestions from their customers too. d. Purchase Decision Data One of the best ways to obtain purchase decision data from customers is to ask them directly for their feedback. It is important to let the consumers know that the organisation values and appreciates their feedback for business upkeep and improvement. Purchase decision data allows an organisation to get to know why the consumer buys its products whether it’s due to convenience, pricing, discounts, promotions, recommendations or so on. This will allow the organisation to refine their industry position and keep targeting the right group of people. To retain success, a business should always know why people buy from them instead of its competitor. e. Business Discovery Data If a business doesn’t know how their customers discover them, they won’t be able to scale on an agreeable level. When they know how their customers are finding them, they can double down on their entry point and make themselves more visible to more people. If a business is already running multiple marketing campaigns, it is even more important to know where their customers get to know them to measure the effectiveness of the marketing campaign. Sort out which platform or which type of exposure suits the business more. f. Customer Churn Data Some customers come and go, but why? How inspiring if an organisation gets to know why their customers are leaving them. Churn happens to every business, but with the reason and data, the business can at least improve and innovate on the reasons of people churning. g. Sign-in Data If a certain account hasn’t logged in for a period of time, maybe it is time for a business to retarget that customer in an attempt to reduce churn. However, an organisation can only do this with close supervision and the right tool to measure interactions. If there are such cases detected, all the organisation needs to do is send out an email to that group of people who hasn’t logged in for a while to ask why and let them respond instantly to prevent ignored mail. 3. How to Collect Customer Data One of the biggest challenges that businesses face when collecting data is how to get the data? With more and more data scandals happening these few years, consumers are on their guard and becoming more vigilant in giving out their information. Fortunately, there are a few soft methods to collect consumer data and here’s some of the best ones: a. Intelligent business tools It is 2020 and most of the businesses already embrace intelligent business tools in some way such as online business operation platforms, POS systems, accounting systems and so on. CheckNow, primarily
How Businesses Survived COVID-19 By Utilising The Internet, E-Commerce & Online Marketing
KNOWLEDGE & EXPERTISE Press & Blog How Businesses Survived COVID-19 By Utilising The Internet, E-Commerce & Online Marketing THE IMPACT OF COVID-19 ON BUSINESSES With higher screen time during the lockdown of Covid-19, does this lead to a golden opportunity for embracing technology and online marketing amongst businesses? Almost no business that is unaffected by the pandemic, those that suffer most are SMEs that may not have the capital to stay afloat and companies that relied heavily on physical stores and face-to-face interactions such as beauty salons, clothing stores, pubs and bars and yoga studios. The instruction for non-essential services to close down amid the pandemic, producing high revenue losses and economic downfall. Fortunately, it is 2020 and technology advancement is here to help. All businesses from neighbourhood yoga studios to multinational luxury companies get to support its business through digital marketing. While lockdowns have not reduced the needs and wants of consumers, what businesses have to do is to change their way of reaching their audiences in order to continue running their businesses. Embracing e-commerce and digital marketing has been achieved by many companies during the pandemic and many of them thrived better than their physical stores. HOW TO EMBRACE TECHNOLOGY AND GO ON-LINE Covid-19 has changed the way consumers shop. Before the pandemic, everyone knew exactly which local business sold the best artisan patisserie or handcrafted organic beauty products in town. Now that these businesses have to close their doors due to their industry being deemed non-essential, no one really knows who is still in business and where they should spend their money to get them. It’s time for these affected businesses to make the change in evolving to; 1. Do business online Signing up for e-commerce platforms such as Lazada and Shopee is also a smart decision to keep the business running. Convenient, available 24/7, home delivery and easy payment has made e-commerce platforms a shopping heaven for almost everyone. 2. Revive neglected online assets like websites and social media profiles Websites and social media platforms shall be turbo charged with important information whether the business is still in operation, operation hours, contact methods, as well as changes in products and services provided during the lockdown. 3. Communicate with your customers Now when your website and social media platforms are running again, the next step is to start a dialogue with your customers and keep it rolling. For businesses that never collected customer email addresses or contact information, it’s time to build connections through CheckNow that are very important and critical to business continuity and keeping a healthy customer relationship. CheckNow is not only an online authentication platform but also your best business buddy 4. Get started with SEO marketing While consumers are avoiding purchasing things from malls and shopping centers, many businesses have seen a strong uptick in their brand’s SEO with significant increase in their organic search visibility from January to March 2020. The message is clear: it’s time to invest in, not cut back on SEO. Not only is it one of the most cost-effective digital marketing strategies, but it’s also delivering proven results amid the pandemic. Recommended steps for building a high-impact SEO strategy during COVID-19 include: Publishing content designed to build trust and loyalty. Proactively managing the corporate web presence. 5. Creating advertisement campaigns online Running an online advertising campaign can be overwhelming for many companies that have always thrived from word-of-mouth. While they can ask customers to tell friends and family that they’re still in business, an online campaign can spread the news much faster, and with lesser effort with these tips: Smart bidding in search enginePPC is an advertising model that lets businesses insert ads in search engine results for their chosen keywords, which they have to bid on in order to win placement. The most common options are Google Ads and social media ads. Many advertisers are benefiting from Google’s smart bidding strategies, which use machine learning to optimize their bids for conversion. Content marketingContent marketing is an indirect form of advertising, but a highly effective way to connect with a target audience. When businesses create and share interesting and insightful infographics, videos, blogs and other content, people will be more likely to engage with the brand, provided that the content is regularly updated so that it remains relevant. CouponsMost customers find coupons irresistible, whether they’re in print or digital form, which is why they’re an essential marketing tool until today. 6. Shifting daily operations online Thanks to many online tools like Zoom and Google Classroom, there are very few businesses that cannot shift their daily operations online. With advanced technology, employees, teachers and everyone can communicate and hold meetings online from anywhere. Moreover, businesses can make use of these free-to-use tools to: Take orders/ support customer service via email, live chat or video calls. Webinars can be held to educate students or clients anytime and it could be recorded for replays and sharing on social media platforms for bigger coverage and exposure. Online and cashless payments can be made anytime, anywhere to complete a deal. THE WORLD IS CHANGING FASTER THAN EVER On the other hand, bringing your business from offline to online is also a vital move for every business in the coming years. Promoting your products and services online allows potential customers to get to know you anytime, anywhere as long as there is internet connection. It is also a competitive advantage to provide online and delivery services for customers such as busy mothers who have a child to look after as well as the elderly and disabled people who are not convenient to grab it from your physical store. However, it is likely for many to use the internet for shopping, gaming, keeping in touch and other activities will have become a habit especially on the younger working generations. It could well be that consumers emerge from the crisis with some very different priorities, values and attitudes – all of
The Importance Of Business Continuity Plan And How To Make One
KNOWLEDGE & EXPERTISE Press & Blog The Importance Of Business Continuity Plan And How To Make One A business continuity plan is vital for every business. It helps you to set out how you will prepare and respond as well as continuing your operations after the pandemic. Nothing should be more important to your business than to reduce the losses and minimise recovery time when a pandemic hits. Being able to analyse and manage the threats posed by a pandemic is critical for your business survival. A business continuity plan can help you handle the impacts when a crisis hits. A comprehensive business continuity plan shall detail your business’s risk management strategies and business impact analysis. It shall describe how your business intends to respond to an incident, specification of a recovery plan and defined policies and procedures for managing staff and communication during the crisis. As part of the planning process, you will need to: Identify your core services and what is needed to sustain the supply chain Identify arrangement for your employees such as telecommuting, cross-skilling & succession planning Develop a communication strategy for employees, customers and suppliers Protect the health & safety of your employees Consider your financial implications such as cash flow, cost increases and insurance Identify contingency plans for the unexpected events Schedule how the plan will be tested and updated. Prevention: Risk Management planning Risk management planning incorporates the prevention element that identifies, assess & develop strategies to manage risks. 1. ASSESS – The first step is to assess your critical business activities such as key services, resources, staff and things that could affect all of your critical business activities. 2. IDENTIFY – Identify where, when, why & how are these risks are likely to happen on a scale basis and its consequences. Here’s how to help you identify; Ask yourself if these risks are internal or external? Who might be involved or affected by these risks? Ask yourself ‘what if’ to find out more accurate answers Brainstorm with people from different department to get different perspectives Consider worst case scenarios to spot smaller risks part by part. Quick tip: Use mind map/ flow charts to develop a bigger vision and it’s easier for you to add answers easily 3. DEVELOP STRATEGIES – Develop potential strategies to avoid, reduce or transfer risks that you have identified by; Evaluating your risks – how severe are them and what are the actions can be taken to avoid and treat them? Draw out options to deal with unacceptable risks such as the method of treatment, people who are responsible for the treatment, costs involved, benefits of the treatment, the likelihood of success and ways to measure success. Avoid the risks when possible- you may choose not to proceed with the activity if risks are possible. Reduce the risks by having a QC, audit or staff training. Transfer the risks by shifting some responsibilities and cross-training staff, identify alternative suppliers, practice traditional ways of working and more… Adequate insurance for your business and staff might save you during a crisis. Business Impact analysis (BIA) While BIA is quite similar to risk management planning, a BIA helps to determine what most important activity for your business is and how long your business could stay afloat without these activities. To prepare a business impact analysis, you will need to identify; The resources needed to support each activity The impact of ceasing to perform these activities How long your business could cope without these activities To identify these answers, here’s a few key questions that you can ask yourself’ What are the daily activities conducted in each area of my business? What are the long-term/ ongoing activities performed by each area of my business? How important are these activities to my business? (on a scale basis) What are the potential losses if these business activities could not be performed? How long could each business activity be unavailable for (either completely/ partially) before my business would suffer? Do these activities depend on any outside products or services? Incident response plan An incident response plan should contain all the information you will need to respond immediately prior and after an incident/ crisis in terms of containment, control and minimising impacts. The following elements should be in your incident response plan; Business continuity plan activationOn the front section of your business continuity plan should include a clear statement of what circumstances should the plan be activated and also the details of the key person/ staff and their substitutes to authorise the activation of the plan. Incident response teamIdentify and state the key responding persons and their roles handling the incident/ crisis as well as their substitutes. Communication planPlan the communication methods and timings needed to keep everyone safe while getting your business running in the event of an incident/crisis. Contact listList down all your internal staff & their family member’s contact details, emergency services and external contacts such as your suppliers and clients. Recovery plan A recovery plan helps to pave the steps to take after the incident/ crisis to help your business operating again with minimal disruptions and shorter recovery times. Time frame for recovery The time frame shall be realistic in order for your business to run normal again Create a time frame based on critical business activities in BIA Assign a recovery time objective to each critical business activity Develop recovery strategies Prioritise critical business function Designate a recovery team (just like your incident response team) Review your emergency kit (shall include key documents that are essential for recovery) and contact list Maintain communication with your external parties such as suppliers and clients Identify alternative suppliers/ facilities and other equipment that can be used Keep your business operating Prepare emergency cash flow or opt for internet banking Reduce costs if possible during the incident/ crisis Consider different business strategies or models. If going left leads to nowhere, then try going right. Consider doing business online (or at least let your business
How Does A Pandemic (Currently Covid-19) Affect Businesses?
KNOWLEDGE & EXPERTISE Press & Blog How Does A Pandemic (Currently Covid-19) Affect Businesses? The Covid-19 pandemic has disrupted all aspects of the business chain from the ability to continue manufacturing and producing goods to delivering products and services to consumers. Many companies will close their doors and jobs will be lost be it temporarily or permanently. Most businesses for non-essential items have to be fully halted during the lockdown/ MCO period which could last up to a month or longer. Employees are barred from getting back to office to work. Millions of people are forced to stay at home and are not allowed to go outside unless with valid reason. Important meetings and gatherings are banned to uphold social distancing and prevent sporadic spread of Covid19 Festivals and international conferences have to be cancelled due to restriction from traveling. The 2020 Summer Olympics in Japan have to be postponed. Certain essential items are being manufactured at maximum capacity but still unable to provide to the whole nation at once. If the pandemic continues for several more months, the World Travel and Tourism Council (the trade group representing major global travel companies) projects a global loss of 75 million jobs and $2.1 trillion in revenue While it remains to be seen how this crisis will impact all sorts of businesses in the long term, it is interesting to explore changes and opportunities in the online and technology industry. “The Chinese use two brush strokes to write the word ‘crisis.’ One brush stroke stands for danger; the other for opportunity. In a crisis, be aware of the danger- but recognize the opportunity.” John F. Kennedy, who lived through the Bay of Pigs (1961-62) crisis. The Covid-19 pandemic has changed many of our daily activities as consumers and restricted how businesses operate. For individuals, the Movement Control Order (MCO) requires all except those in essential services to work from home. Keeping our social distances and limited trips for essential groceries or health appointments have altered consumer’s behaviours. All businesses are also affected by these changes in government restrictions and consumer consumption behaviour. Across different sectors, we can see huge varying impacts from buying fresh produce from the morning market to ordering it online and meetings are done online. INFLICTING TECHNOLOGY OVER REGULAR BUSINESS OPERATIONS Being barred from going to the office has led millions of people working from home. Communication methods have changed from physical to virtual and through a screen via online communication tools such as Google Hangout, Microsoft Team and Zoom. Watch how we worked from home and fought through all the distractions on the below video; BOOK A ZOOM APPOINTMENT WITH US TODAY FOR FREE CONSULTATION While that’s for communication, the real estate industry has taken it to another level by offering property visits without leaving your house through Augmented Reality technology. Not only that, you can also visit Central Park of New York and Le Musee du Louvre of Paris from your seat at home. You could also visit Van Gogh’s museum, visit Prague’s castle or even take a stroll through the Vatican. Meanwhile, the growing need and demand for remote interactions during this pandemic has highlighted and potentially accelerated earlier adoption for a faster, better technology; 5G. Two key areas in need of the lightning-fast speeds, increased connection density and near-instantaneous communication are teleconferencing and telehealth. These two sectors have become critical for enterprise operations during this pandemic. While 5G might largely change the way we live and do things, people and businesses must first be willing to adapt to newer, more reliable technology. For instance, QR codes were introduced years back but people in Malaysia are just beginning to pick that up and implement them into their businesses. As such, Packtica provides a wide range of solutions from variable data printing to online authentication systems where it will be able to help you slowly transform your traditional operations to a more trendy and secured business. A CATALYST FOR ONLINE BUSINESSES Social distancing has led to a massive growth in consumers taking up the online shopping on various e-commerce sites. There has been a clear evidence of drastic sales drop in physical stores but maybe not so for online businesses. The consumer’s buying behaviours are also likely impacted by the panic buying trends and changing perceptions of what purchases are necessary during this hard time. In the aspect of panic buying, prices have surged to more than 100% for 3-ply surgical masks in Malaysia from RM45 to RM120 per box of 50pcs. Low availability in physical stores and fears around the virus have also sent consumers flocking to the internet to find extortionate priced hand sanitisers and infrared thermometers. What’s worse is the scammers are working 24/7 and grabbing the opportunity to cheat consumers out of their anxiousness. That’s a down point for buying online but there’s always a solution to it. Hologram stickers/ labels may be the basic protection against fake products but for Packtica, we do not stop there. Our QR codes are complemented with our in-house online verification system for ultra-protection on your goods and brand reputation against fraudulent activities. *Let us demonstrate how our online authentication system works On the other hand, it is interesting to see consumers continuing to purchase what may be classified as non-essentials through e-commerce sites. DPD noted growth in online shopping deliveries in Ireland with increases of 45% in clothing, 45% in cosmetics and hygiene products, 200% in electronic goods and others. Relatively, usage on social media platforms like Facebook, Instagram and TikTok has largely increased and longer screen time. Online streaming services such as Zulu, Netflix and Amazon Prime have also seen a surge in subscriptions as consumers are spending more time at home. With higher screen time, does this lead to a golden opportunity for the online marketing industry? On the other hand, being able to analyse and manage the threats posed by a pandemic is critical for your business survival. A business continuity plan can help you handle the impacts of a pandemic. A comprehensive business continuity plan shall