Cryptocurrency mining is profitable when the cost of the primary production resource needed to mine it is low. Electricity accounts for upwards of 80% of total O&M spending in a typical-mining operation. For this reason, bitcoin miners circle the globe searching for $0.06/kWh. How much more appealing would the cryptocurrency mining business be if the power was acquired at cost?
ScottMadden recently polled attendees at the Shared Services and Outsourcing Network’s (SSON) SSOW Live Conference on the topic of virtual work. We have heard many success stories from our clients and other practitioners about how their shared services organizations (SSOs) were able to quickly transition to a virtual model when the global pandemic hit. In many cases, the nimbleness and efficiency of the organizations have allowed them to play crucial roles in supporting their business during these challenging times. Conversely, some who were not well prepared have struggled. The data from our poll highlight these successes and challenges and show how the pandemic will likely have a lasting effect on shared services models.
Light-duty consumer vehicles often own the spotlight in the world of electric vehicles. Now, 15 states have put their focus on accelerating the market for electric medium- and heavy-duty vehicles by signing a memorandum of understanding. See how utilities can prepare as the MOU signees develop an action plan within the next six months.
In this follow-up to our workshop presented at the Shared Services and Outsourcing Network’s digital Shared Services for Finance and Accounting conference, experts Brad DeMent and Trey Robinson go deeper with insights, tips, and recommendations on how to lean into the finance delivery model during COVID-19 and beyond.
Until the COVID-19 pandemic, Brazil’s economy had been steadily gaining momentum since the downturn experienced in 2015 and 2016. While Gross Domestic Product growth can no longer be expected to materialize in 2020, this growth is delayed—not cancelled. Economists currently forecast growth rates as high as 3.6% in 2021. Will your business be prepared for this return to growth?
Businesses of all sizes are shifting near- and long-term plans as they determine how to best weather and recover from the impacts of COVID-19. As a result of rapidly shifting priorities, corporate environmental, social, and governance (ESG) activities are also receiving additional scrutiny. Reading headlines about ESG in the COVID-19 era tends to prompt whiplash. Is corporate responsibility more important than ever before,[1] or are companies unilaterally abandoning sustainable practices in these difficult times?[2] The reality is more nuanced. While many companies will focus on mitigating the economic impacts of the pandemic, an effective recovery approach will also take a long-term view and address the following areas essential to ESG strategy.
It would have been extremely helpful if we had a service center in place during this pandemic.
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Healthcare systems continue to face a multitude of challenges related to their registered nurse (RN) population, including a growing demand, increasing turnover rates, and high replacement costs. In fact, the average hospital loses nearly $5 million per year on RN turnover.[1] However, that figure does not include additional costs related to impacts on patient satisfaction (e.g., brand image, decreased patient volumes) that may also result from an instability in the patient-facing RN population. Typical initiatives to combat the challenge are often high level, such as increasing retention or shortening time-to-fill, and tackled in a narrow or siloed fashion with limited insight into core issues.
HR professionals hold the “keys to the kingdom” when it comes to employee data and must always keep in mind the saying, “with great power comes great responsibility.” People analytics, as defined in our article, “Demystifying People Analytics,” is the practice of turning disparate employee data into insights that drive business decisions. Successful and sustainable people analytics organizations are built on instilling trust and proving value for the organization as a whole, as well as for individual employees.
In this follow-up to our workshop presented at the Shared Services and Outsourcing Network’s digital Shared Services in Higher Education conference, experts Courtney Jackson and Betsy Curry go deeper with insights, tips, and recommendations on how to lean into the shared services journey.
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