Equip Issue 9 - Harnessing efficiency through smart purchasing decisions
(22 March 2019 - Australia) Commonwealth Bank’s latest issue of Equip explores some of the ways that businesses are making smarter purchasing decisions, and investing in new and more efficient equipment to set them up for sustainable success.
The Bank’s research, based on direct interviews with 898 businesses conducted by East & Partners from August 2018 to February 2019, shows that energy costs are increasingly impacting purchasing decisions. Grid electricity and petrol costs are a factor in 90 percent of cases, while petrol costs were considered in 71 percent. It also reveals the potential benefits of making smarter decisions, with businesses in the survey reporting an almost 30 percent reduction in energy costs as a result of efficient equipment.
“With this transformation will also come some unintended consequences – not least the reduction in the revenue generated by the government’s fuel excise. In this issue, we look at some of the attitudes to the fuel excise among the focus industries of our survey, and their preferred alternatives for securing future road funding” states Commonwealth Bank Asset Finance General Manager Sylvia Terry.
The latest issue also takes a deep dive in to the International Financial Reporting Standards (IFRS) 16 accounting standard, which came into force on 1 January 2019. The research shows that many businesses are unprepared for – and even unaware of the change.