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News that impacts your business. Collected by biztips staff with you in mind.


Companies are failing to assess risks of new technology

While companies are increasing their focus on emerging technologies to help transform their businesses, many are not assessing the risks that come with their adoption, according to KPMG LLP's Tech Risk Management Survey.

Nearly half of the 200 senior IT risk management executives surveyed whose companies have adopted mobile applications and devices have not included them in recent IT risk assessments.

"Change and disruption has never moved faster and the speed of technology deployment is critical, but it can't be at the enterprise's expense," said Phil Lageschulte, Leader of Global IT Advisory Services for KPMG.  "Tech risk management should anticipate changes while or before they happen and determine the associated risks. Accordingly, tech risk management should be involved in strategic business planning, embedding the risks and adding value upfront."

For more information: KPMG Tech Risk Management Survey Report: Disruption is the New Norm.


The business road ahead

U.S. economy looks set to keep exanding

LEADING ECONOMIC INDICATORS suggest the U.S. economy will continue expanding at a solid pace for the remainder of this year.

That's the word from The Conference Board, a global, independent business membership and research association.

Its Leading Economic Index (LEI) for the U.S. increased 0.6 percent in July to 110.7 (2016 = 100), following a 0.5 percent increase in June, and a 0.1 percent increase in May.

"The strengths among the components of the leading index were very widespread, with unemployment claims, the financial components, and the ISM New Orders Index making the largest positive contributions," said Ataman Ozyildirim, Director of Business Cycles and Growth Research at The Conference Board.

• The Conference Board Leading Economic Index (LEI) for the U.K. decreased 0.2 percent in June 2018 to 96.7 (2016=100).


Annual home sales up nearly 2 percent

JULY HOME SALES rose 1.8 percent year-over-year, making it the second month of 2018 to post a sales increase year-over-year, according to the RE/MAX National Housing Report.

In the July 2018 report, 37 of the report's 54 metro areas posted sales increases over July 2017. April was the first month of 2018 where more homes were sold than the same month in 2017. The report also marks the 28th consecutive month of year-over-year price increases.

The Median Sales Price of $250,575 was up 4.4 percent from July 2017, and represents the third-highest price in report history—topped only by May and June of this year. Months Supply of Inventory was at 2.9 —the smallest total ever recorded for July.

"Because we've faced challenging inventories and increasing home prices for some time now, a seasonal slowdown that rebalances the market a bit might actually be a positive in the months ahead," said RE/MAX CEO Adam Contos. "It could level affordability to some extent and create more opportunity for buyers who've been priced out of hot markets.

Medical services forecast to  reach $3.1 trillion in four years

US DEMAND for medical services is forecast to reach $3.1 trillion in 2021, according to Medical Services: United States, a report recently released by Freedonia Focus Reports.

Providers of medical services are expected to benefit from continued growth in consumer incomes, government healthcare spending, and the number of acute and chronic conditions, driven by an aging population. Faster gains in value terms will be limited by government and insurance company efforts to curb growth in healthcare costs.

Notably, spending for home healthcare services is projected to exhibit the most rapid growth among discrete segments to 2021. The lower costs associated with home healthcare services relative to nursing homes and the desire of many persons to remain in their homes are expected to drive spending. In addition, the growing elderly population is projected to boost demand.

More information.


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