Wednesday, March 27, 2019

How to manage businesses with multiple locations

business locations
If you have never assessed the need for business process management systems in your company, now is the right time to think about it. Such systems play a significant role in maximizing the performance of any company, both small and large. Successful implementation of management systems requires an understanding of process management software, the selection of appropriate departments and subdivisions for their implementation, and the creation of a plan for their implementation.

What is the core of business management systems?

Business process management systems allow companies to expand. For example, if you are planning to expand a company and open new departments in several places districts, states or internationally, you are unlikely to succeed without management systems. Process management systems such as accounting, payroll, purchasing, pricing, discounts, hiring, production, mailing, delivery of goods, etc. - occupy an important place in the success of any company. But before uploading appropriate process control systems in your company, first start by assessing which processes systems your company need and which manual processes can potentially be automated.

Automation of business processes

In the conditions of constantly developing technologies, today, more than ever, it has become easier to automate business processes. Automation creates a business platform that offers entrepreneurs and directors the ability to manage a company using current data. For example, in order to advertise a product or service, you can use automatic systems for sending electronic messages.

What processes require automation?

You can consider automating of several processes, including:

- Salary calculations;
- Purchase of inventory;
- Accounting;
- Processing of applications for consumer loans;
- Processing of receivable invoices and accounts;
- Pricing;
- The process of selection, recruitment, and maintenance of labor discipline;
- Operational procedures;
- The process of sales and customer service.

Here are some great tools to automate your business:

Campaign Monitor offers a platform for organizing email newsletters. The company helps small and large businesses personalize their services and products. Service optimizes customer life cycle. It presents information about each email in one place to see the status of tasks, and mailing results.

Sales force integrates customer information into a single integrated platform that helps create a customer-focused business. The service offers cloud solutions for sales, service and business promotion.

Hub Spot offers a package of inbound marketing tools that automate routine tasks. The service organizes and monitors customer relations, offers analytics via communication channels and automates the work with e-mail and scheduling meetings. The system can be embedded in landings, newsletters, on a website or in social networks.

Tally fy monitors all business processes in the company and helps automate daily and other routine tasks. The system keeps track of repeating processes, expenses, helps to plan events and answer user questions. Inaddition, the service makes the work transparent.

Saturday, January 19, 2019

Learn These Rules Before You Start Day Trading

trading in light
There are plenty of people around the world who dream of earning a fortune by day trading on the stock, Forex or Futures market. If you're willing to be patient, spend your time improving your strategy, and focus on learning about day trading, then you could become successful quicker than you might imagine. However, it's important to remember that any trading strategy - no matter how good, can lead to disaster if you rush in without the right mindset.

To get your mindset right for day trading, one of the first things you'll need to do is learn the ground rules. Remember, research suggests that many day traders fail to make consistent money when they don't have the right strategy in place. Here are our ground rules for day trading to keep you moving in the right direction.

The Golden Rule of Day Trading

Perhaps the most important rule you can keep in mind when you're day trading is that you should never use any money that you can't afford to lose. At the end of the day, it's true that many people make great money with their day trading strategies, but you should go in expecting to win. In fact, the aim for most people in day trading is to simply "lose" less often than they win. Focus on using the money you can afford to lose.

If you can't afford to lose anything, then the best thing you can do is start by practicing. Paper trading solutions and virtual trading simulators will help you to put your skills to the test while you're still getting to grips with the ins and outs of day trading. Though you won't make any money on a paper trading simulator, you won't lose anything either.

Start Small and Work Your Way Up

Another important rule to keep in mind when you're day trading is that you should never rush in too fast. It's tempting to get excited in the day trading environment, particularly when your strategy leads to the occasional quick win. However, if you jump into action too quickly, then there's a good chance you'll be left with bigger losses than wins. As you first start to day trade, keep a tight rein on your money, and don't spend anything extra until you know you're confident in your decisions.

Ultimately, a lot of people want to day trade instead of working for a living, and if that's your goal, there's nothing wrong with that. However, you shouldn't quit your day job too quickly. There are plenty of day traders out there that get a great run of luck but end up losing everything because they get too cocky too fast. Remember that it's just as easy to lose quickly as it is to win fast. The key to excellent day trading is remembering to keep a reign on your feelings of fear and greed and starting off as small as possible while you're still learning.

Thursday, January 17, 2019

Why Freelancers Should Hire an Accountant

finance accounts
Many freelancers only talk to accountants at the end of the financial year to get help with the tax returns, which is fine in itself. However, if you are serious about your freelance business then an accountant can be a valuable asset all year round.

Accountants can look at any number of areas including helping to identify potential tax deductions, advising on any trends or patterns in your finances and supporting you with business growth if you need to take on staff in the future.

Here are a few key reasons why freelancers should hire an accountant:

1. They can advise you all year round

If you only take your books to an accountant at the end of the tax year, all they can do is make sure they are in order and complete your tax returns. They can’t advise or suggest ways to do things differently because you have already completed that year.

If you employ an accountant all year round they can offer ongoing advice and point out different ways to organise and run your finances which might save you money and reduce your tax bill so they are worth talking to early in the year.

2. Work out your taxes properly

As an employee you never had to think about taxes before so starting out in business can be a real shock as you have to pay a tax bill at the end of your first year. An accountant can help you work out what your taxes are likely to be as the year goes on, helping you to plan and save.

Working with someone all year to calculate your taxes properly and knowing exactly how much you are likely to owe, early on, means you can avoid the problems of suddenly experiencing a large tax bill which you then can’t afford to pay.

3. They can advise you on business finance

An accountant can offer valuable advice and insight to a new freelancer, looking at the business as a whole and advising on different approaches. They can look at trends and advise you of any potential problems before they cause your business major issues.

Having an accountant on board means you have someone to talk to about any changes in tax law, or plans to borrow to grow your business, or whether you are in a good position to think about outsourcing some other aspects of the business now.

4. They can save you a lot of time

Dealing with the financial management of a business can become incredibly time-consuming as you have to prepare all your invoices, keep track of payments coming in, sort out staff payments, deal with taxes and record all your expenses.

While it might only be a simple spreadsheet when you first start out, as your business grows and becomes more complicated the financial management side can get more and more time-consuming leaving you stressed out and overworked.

By employing an accountant, you can make sure all of your finances are managed for you and as your business grows you can be confident your accountant can handle that for you. It means you have a lot more free time to focus on actually running the business and delivering your services to clients. You can even try services by companies like Crunch that gives you access not just to accounting but to other finance services.

5. You are not a finance expert

The chances are that you are not a finance expert so why take the risk and try to do it yourself? If you get your figures wrong, or leave all your receipts in a pile in a shoe box, or pretend the tax bill will just go away you could end up in serious financial trouble and it could spark the end for your business.

The chances are that dealing with all of the finances is actually your least favourite job and can end up causing you stress and sleepless nights, so why carry that entire burden on your shoulders when you don’t need to?

You pride yourself on delivering a professional service to your clients, so likewise you should respect and make use of the professional services of an accountant to help support you in your own business.

These are five good reasons why every freelancer should employ an accountant to support them within their business but there are many more. An accountant can become a valuable asset to your business, offering advice, support and help throughout the year, not just when it comes to filing taxes. 

If you have plans for business growth and to take on staff then your accounting will become far more complex than you are used to but having an accountant on your side will make the whole process far simpler and straight forward.

Accountants can save you money, save you time, and reduce all of the stress that comes with dealing with numbers so the real question is why wouldn’t you hire one?

Saturday, January 12, 2019

3 Golden rules to follow while taking out loans – Don’t miss any one of them

easy loans
In an ideal situation, everyone would have enough funds to pay for all their needs but the reality is far different from that. Majority of us have very few funds left in our bank accounts and hence the only option for us is to borrow money from lending institutions. Considering the banks and other lenders, this yawning gap between the consumer’s income and expenses seem to be their biggest opportunity on carry on their business. In fact, the lenders are already carpet-bombing the customers with loan offers that they send them through SMSs, mails and also over phone calls.

With the changes brought about by technology, you can not only get payday loans online but all sorts of lenders are available online waiting to meet your needs. They will just take 10 seconds to disburse a loan amount to their customers through net banking. But before you opt for loans, here are few of the golden rules that you need to follow.

Golden Rule #1: Borrow only an amount which you can pay back

The foremost rule of smart borrowing is something that the older generation has been advising us since years – ‘live within your means’. Make sure you take out a loan that you can repay easily. A thumb rule that you should follow is that your car loan installments should never surpass 15% and the personal loan instalments shouldn’t account for 10% of your net income that you make in a month. The total monthly income that you make towards all the loans shouldn’t be more than 50% of the monthly income.

Golden Rule #2: The loan term should be as short as it should be

The home loan tenure that is provided by few of the major lenders is 30 years. You have to understand the calculation that the longer the tenure is, the more will be the payment towards interest rate. However, it is always better to take out loans with shorter time period so that you can pay less on interest rates. On the contrary, if you take out short term loans from online sites like, you will get high interest loans for a short span of time as they don’t have any collateral and they offer loans to people with poor credit as well.

Golden Rule #3: Ensure paying back on time

As long as repayment of dues is concerned, you should be on time while repaying debts. Whether it’s a short term loan like a payday loan or a cash advance loan or a long term loan like a car or a home loan, you should never forget to make payments on time as this will lead to accumulated interest rates which will lead to debt. Also take care of your credit card payments as they carry the highest interest rate.

Therefore, when you’re wondering about the ways in which you can take out a loan and yet stay in financial peace, make sure you follow the golden rules mentioned above.

Friday, January 4, 2019

Gambling in the Forex trading industry - Something different !!

forex matters
If we are not careful with our professions, they will get out of hand. This can be easily visible in the trading business. For the sake of good returns from this business, traders will have to maintain it. Many traders though, happen to mislead their business and make a mess out of it. They happen to fall for various traps and make their trading experiences miserable to look at. In this article, we are going to discuss some of the most common and serious problems of the trading business. The following will be filled with all of the information about those mistakes. We will try our best to make the traders aware of them. We hope the traders at least the novice ones who are reading this article, will be able to change their business for a greater outcome from this profession.

Over trading is the most dominating

The most important in the sense of distracting ones trading business is the over trading problem. It can single-handedly mess with your trading business big time. When traders fall for that it becomes unorganized and the trade setups become haphazard before executions. This can cause the traders some serious losses from their accounts. You see, over trading is solely based on the trading frequency. It means the traders are placing their trades more frequently than others. This denotes the traders are not planning for most of the trades and when you are not making pre-planned trades, they end up looking very bad and the result from those trades do not bring any good luck. Because the position sizing may have been wrong and when several trades stay like this the total impact on the trades gets really massive. So, try to avoid this problem in your own trading business.

Getting rich quick

Many people in Singapore think high leverage trading account gives them the perfect environment to make tons of money within a short period of time. But if you do some analysis, you will be surprised to see all the risk takers are the ultimate losers of this industry. Forex trading is one of the most sophisticated business in the world. You can’t make any real progress unless you want to find the perfect way to lose money. Learn proper money management technique so that you can save your investment in the long run.

Risking too much is not good either

Like over trading problem, many traders happen to do too much with their risks. It means the traders have a poor money management plan for their business. When the trading business is running like that the outcomes from the trades will not be so good. The risk to profit margins will not bring any good smile to the trades. this not a false story at all, most of the traders think that with more money invested into the trades they will be able to make more profits. This comes from the general ideas about other businesses. When the traders use this strategy for their businesses without any kind of good position sizing, they begin to fall very short. The loss from those trades happens have a negative effect on a trader’s peace of mind. This also affects a trader’s performance after losing trades.

Micromanaging is bad for the mind

Some traders happen to fall for another problem by micro-managing things. It is the whole trading process we are talking about. The main problem comes when monitoring the markets because they are the main thing for proper position sizing. Doing this the traders becomes more engaged with the trades and their tensions during live trades affect a lot on the performance. This is because they begin to lose faith in the trading strategies which has been created from your own mind. So, for the sake of your own relaxation in this business, try to be calm and cool with the whole trading process.

Monday, October 8, 2018

Advantages of Opening Your Savings Account with Leading Banks

money bank
Savings account is a traditional investment option that’s much conservative in nature. It helps you store your extra funds with a banking institution as it’s safer than keeping the funds at home. Compared to the checking account, savings account yields more benefits like the interest that you earn on the funds. Unlike other liquid investments, your savings account helps you obtain an easier access to your money as and when you need it. With much lesser risk involved, your savings account actually provides numerous financial benefits. You must consider it while checking out options for protecting your funds.

Check Out the Major Benefits that Come with Your Savings Account:

Interest on the Funds Deposited

For all the funds deposited with your basic savings account, you’ll earn interests. This is the most important benefit associated with any savings account. The interest that you earn with your savings bank account is arrived at by multiplying the rate of interest by the value of funds deposited and maintained in the account. The rate of interest will even vary from time to time.

Simplified Access to Funds

The money that you deposit after an online saving account opening can be brought out easily in the event of an emergency. The funds that you deposit can be withdrawn for covering any unforeseen financial obligation. With a majority of banking institutions, funds can be accessed over the internet for 24 hours a day. Linking your savings account with your other financial accounts is a possibility with most banks just to ensure a smooth flow of funds. The most important benefit of maintaining your savings account is the quick access and mobility of funds that it supports.

Automatic Transfers

You might find it tough to save money out of your daily expenses and obligations. However, your savings account yields another benefit to resolve this issue. You may set automatic deposits with your account on a weekly or monthly basis. The amount of saving will then get transferred from your checking account on the date specified every month. This way, you won’t need to do the math of extracting money from your monthly budget.


Liquidity is certainly a major benefit associated with your savings account. All the money entrusted with your savings account can be accessed without any prior notice. Also, you may withdraw your funds as frequently as you need by availing facilities like the bank teller, internet banking, and ATM. However, you’re entitled to enjoy up to 6 electronic transfers each month as per the government regulation. In case, you need more funds, you may achieve it through an online transfer and it hardly takes a few minutes to get it processed. It’s much easier than taking your funds out of any certificate of deposit, government bond, and stock that charge a substantial amount as penalty.

Opening your savings account and operating it is much easier than your other modes of saving. You may achieve a few interest advantages with banks that bridge your savings packages and checking facilities. You may even choose to avail lower initial deposit with some of these banks.