May 19, 2020

Digitisation to help add 30,000 new Australian marketing jobs by 2022

Deloitte Australia
Australian marketing industry
Addie Thomes
2 min
Digitisation to help add 30,000 new Australian marketing jobs by 2022

Advancing technology and deepening integration of marketing roles into other parts of businesses will see 30,000 new jobs added in Australia by 2022.

According to ‘The future of work Occupational and education trends in marketing in Australia’ report, compiled by Deloitte for RMIT University, this 11% rise represents a shift in thinking in organisations.

“Marketing is increasingly seen as part of the broader business calculus rather than a standalone area, with greater integration between marketing and other parts of a business such as product design and data analytics,” the report said.

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By 2021-22, the size of Australia’s marketing workforce will be around 299,000, up from the current level of roughly 269,000. This represents an average annual growth rate of 2.2%, some 50% higher than the 1.5% rate forecast for Australia’s workforce as a whole.

Average salaries in the sector are expected to rise also. The average annual income of marketing workers with a postgraduate qualification in management and commerce was $129,004 in 2016-17, forecast to rise to $150,431 in 2021-22.

Speaking to cmo.com.au, RMIT Program Director of Post-Graduate Marketing Programs, Dr Foula Kopanidis, said: “Although technical digital skills are becoming increasingly important, the core mix of technical and creative skills underpinning marketing roles is still critical for success in the job market.

“This creative aspect of marketing, in particular, is seen as a factor which is required to ensure that a product or brand is successful in the market, and the human element associated with this creative flair can be difficult to be substituted with technology.”

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May 3, 2021

DBS Bank expands digital trade finance on Contour platform

DBS
Contour
DigitalTransformation
Finance
Kate Birch
2 min
DBS Bank and Contour extend digital trade finance offerings to four key APAC markets for corporate customers – boosting resilience and efficiency
DBS Bank and Contour extend digital trade finance offerings to four key APAC markets for corporate customers – boosting resilience and efficiency...

DBS Bank has boosted its digitalisation extending its offerings on trade finance network Contour to corporate customers in four key Asia-Pacific markets – Australia, China, Hong Kong and Singapore.

Singapore-based DBS was the first bank to sign up to Contour’s beta network and completed the first fully digital Letter of Credit (LC) transaction on Contour last year. The bank has moved to Contour’s production network to offer streamlined digital LC transactions for customers, to help digitise global trade. 

Contour’s network focuses on digitising paper-based trade finance processes which can be expensive and time-consuming.

APAC is seen as a key region for digitisation of trade finance as banks and corporates seek to mitigate risk and enhance cost efficiency, including moving away from traditional paper-based LC processes.

Via Contour, which is also based in Singapore, DBS will be able to provide a fully digital end-to-end LC settlement process for customers in Australia, China, Hong Kong and Singapore, including the transfer of electronic trade and title documents – increasing efficiency in the process by up to 90%.

Digitised trade finance builds resilient ecosystem

“Our partnership with Contour aligns with DBS’ ongoing efforts to drive greater efficiencies in trade and unlock strategic value for our corporate customers,” said Sriram Muthukrishnan, Group Head of Trade Product Management, DBS Bank.

“We recognise that digitisation is a powerful enabler to simplify the highly complex nature of trade finance, especially for processes relating to letters of credit. Digitising trade processes is also an increasingly relevant and heightened priority for corporates to survive and thrive in the new normal and will form an integral component for resilient trade ecosystems of the future.”

Contour’s decentralised network increases security as it validates all identities and leverages technology partners to match trade documents to real-time data. Contour also offers a sustainable way for companies to reduce their carbon footprint.

“The addition of another major Asian bank to our production network highlights Contour’s growing presence in APAC as an industry standard for digitising trade finance documentation,” said Carl Wegner, CEO at Contour. 

“DBS has been an important partner for Contour in our work to support Singapore’s position as a key trading hub and has already participated in a number of successful transactions on our network. We’re delighted to facilitate its transition to offering live services to customers in these four markets. This is another important step on our journey to becoming the new digital end-to-end infrastructure for global trade.”

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