What will outsourcing be like this year? Read this blog post to find out 8 upcoming outsourcing trends to look out for in 2018.
The outsourcing industry is likely to grow by leaps and bounds in 2018, with the aid of centralized technology. Latest survey reports have stated that 65% of firms that outsourced in the past will continue to do so this year. This only goes to show the faith and reliability that world-wide entrepreneurs have in outsourcing.
From cloud computing to artificial intelligence and transformation of communication, let us explore some of the upcoming outsourcing trends for year of 2018.
Cloud computing will reach its peak
Cloud computing in 2018 has been predicted to reach 200-Billion USD very quickly. Firms will now be able to increase their functionality capabilities and process areas, while managing the problems/requirements of clients with ease. Cloud computing will pave the way for cost-effective and customized solutions.
Do you want to establish your brand and stay on top of the market? If yes, then find out how to gather and use market intelligence.
With the increase in competition and companies trying to out beat each other, market intelligence plays a crucial role in keeping an enterprise on the top. Without adequate market intelligence, decision makers will be incapable of taking the right decision or altering business strategies. Now that you know the importance of market intelligence, how do you gather it?
Here are some ways that you can use to gather market intelligence:
1.Get in touch with your sales team: Ask for information from your sales force. Your sales team will have the maximum interaction with your end customers and can give you up-to-date information about improvements in your products, effective marketing strategies used and new products, which customers are looking for in the market. Such feedback is both realistic and practical. Your sales team can be requested to conduct regular market surveys to gather useful market intelligence.
2. Question your channel partners: Get feedback from your channel partners when it comes to product expansion or the sale of a new product. Your channel partners can let you know which products will sell better in the market, which products can be ready to stock and which product your enterprise should focus on next. They can also suggest improvements on your current marketing strategies. Channel dealers are after all the internal customers of your company. Asking for feedback from them is a great way to gather market intelligence.
From huge cost savings to optimal risk mitigation and better flexibility, find out the top ten reasons why outsourcing software development is an absolute must for every enterprise.
With globalization on the rise, companies are trying to cut down their costs, offer better customer services and optimize their efficiency. But how can you achieve all of this, within a short period of time? Outsourcing is the answer.
For instance, outsourcing software development can not only allow you to minimize your internal costs, but also help you shift the focus on your core competencies. Here are some reasons why outsourcing software development can work for you: Continue reading →
From sales forecasting to database marketing and basket analysis, find out how data mining can be used in seven unique ways.
Do you have loads of good customer data, but are not doing anything with it? Customer data, if used correctly can increase your customer loyalty, reduce your client churn and unlock the hidden profitability of your enterprise. Would you like to know how data mining can help you use your data effectively? Here are some practical ways that you can use to get the most out of your data.
Also known as affinity analysis, you can find out what your customers have purchased from your website. Such data can help you improve your layout and even list out related products that customers might be interested in. This type of analysis can enable you to predict future customer behaviours from past performance. You will also get to know how credit cards are used, the patterns of telephone use and identification of fraud insurance claims.
If you know what your customers bought, you can predict what they will buy again. You can evaluate effective strategies and figure out what complimentary products to sell. The data can be used to look at a number of customers in your market and predict how many consumers will actually buy. Customer data can also help you project your cash flow in a better manner. You can accordingly plan the right amount of capital that you would require to sail over difficult situations.
Read this blog entry to find out why your customs brokerage company requires NAFTA certificate verification services.
The North American Free Trade Agreement or NAFTA is an agreement that is signed by the governing bodies of Mexico, Canada and the United States of America. The primary purpose of NAFTA is to develop a tri-lateral agreement in North America.
NAFTA came into existence on January 01, 1994, with the aim of getting rid of the trading barriers that existed between Canada, Mexico and the United States of America.
NAFTA gets rid of trade and investment barriers between Mexico, U.S and Canada. When NAFTA was first implemented in the year of 1994, the tariffs that existed between exports and imports within the three member countries were eliminated.
Why invest in NAFTA certificate verification?
If your customs brokerage company operates within Canada, Mexico or the U.S.A, it is mandatory to own a NAFTA certificate of origin. This certificate will enable you to leverage the advantages of free trade with similar companies in other countries.
If you do not own a NAFTA certificate, your company will not be able to trade in a duty free zone. At the time of B3 form filling, an existing/renewed copy of a NAFTA certificate has to be produced for hassle-free processing. If you were to get a shipment released without a valid NAFTA certificate, you stand the change of incurring huge penalties and implications from the Canadian Society of Custom Brokers (CSCB). Continue reading →
Have the myths around mobile app development stopping you from outsourcing? Read on to find on to find out how we bust six popular myths on mobile app development.
With the mobile ecosystem being new in comparison to web start-ups, several first-time mobile app entrepreneurs have misbeliefs about the entire mobile application journey. The following myth busters are guaranteed to turn novice mobile entrepreneurs in the right direction and keep them aware of what lies ahead during the development of an app.
Myth: Mobile app development is all about technology
You are not from a tech background, but still want to develop an app and are worried about how it can be done. Technology is just an enabler, but not the idea of a mobile app. For example, you need not know about coding to develop a tech product. Simply outsource mobile app development to a service provider who can understand your ideas and create the app for you. Continue reading →
Managing invoice processing in-house can prove to be expensive, difficult and burdensome. Read more to find out how beneficial outsourcing invoice processing can be.
Is in-house invoice processing becoming a burden? Are you unable to reduce costs, obtain access to better data or improve purchase controls? Outsourcing is the answer to these problems. Right from storing and imaging your company’s invoice documents to handling the pre-purchase authorization and vendor payment, an outsourcing service provider can efficiently manage your invoice processing.
Outsourcing invoice processing to India can enable your company to leverage not one, but several value-generating benefits. From lower costs, to better accessibility and lack of errors, here are the many reasons why invoice processing is best outsourced. Continue reading →
What is RPO? How can it help your enterprise? Find out the 6 benefits that RPO can bring to your company.
For many companies, REO or Recruitment Process Outsourcing is still a new concept. While some enterprises have no idea on how to improve their recruiting process, still others just stick with other solutions just because that was the way it was always done. However, if you want to find out more about recruitment process outsourcing, here is what RPO can really do for your organization.
1.Minimal recruiting costs
Reduced recruiting costs is one of the biggest benefits of choosing RPO. In-house recruiting can cost more in terms of job boards, headhunters, long hiring processes, use of outdated technology or high turnover rates. An RPO service provider on the other hand can minimize your cost through streamlined recruiting processes. You can also get access to better candidates, with lesser time and money.
2. Scalable recruiting capabilities
There are many employers who look for seasonal employees. If you are one such employer, an RPO service can help you easily scale up or back down, before and after a particular season. RPO is also a great option for rapidly expanding companies that need a helping hand in scaling up their recruitment capacity to address the surge in growth.
3. Consistent recruitment-to-hiring process
Do you have multiple departments or multiple entities within your company? Do each follow their own hiring process? RPO can help you put everything together and also make the recruitment-to-hiring process seamless and consistent across your organizations? This makes it simpler to understand what is going on and what your employees are doing when hiring new candidates. The new recruits will also be able to know where they stand in the recruitment process and what is going to happen next. Continue reading →
Business research can help your enterprise make the most of data and use it to exponentially increase your profits and sales. Read this post to find out more about business research.
Have you thought about researching the different aspects related to your business? Finding out more about your process, market trends, target audience and business practices can enable you to accurately spot new opportunities, steer clear of problems, project your sales and even predict trends.
Reasons why every business needs business research
Business research is an important tool that can help you find out what a potential customer wants. This in turn can enable you to develop your products/services in a better fashion. Business research can give you inside information on what your competitors are doing and even assist you in catching on to the latest market trends. Evaluating your in-house departments and their performance and then comparing it against projects can help your enterprise make suitable adjustments.
Popular types of business research
There are a wide range of business research types that can help you make the most of your data. To start off, you can conduct focus groups or customer surveys to find out more about prospective customers. Next, you can be a part of a trade association and get free access to their research studies. Another type would be to perform budget variance analyses for every business quarter. This will throw light on your revenue and guide you in adjusting your budget. You could keep a close watch on your competitors to find out more about their products, the advertising used and the prices charged. When it comes to your website, you can use business research to check the traffic data and find out more about the customers visiting your site, the pages they are viewing and the keywords that they are using. Continue reading →
How do you make a choice between Xero and QuickBooks? Which software is better? Read on to find out which software you must choose.How do you make a choice between Xero and QuickBooks? Which software is better? Read on to find out which software you must choose.
If you are keen on installing an accounting software on your hard disk, then go ahead with QuickBooks. However, using Xero is a great way to take advantage of technology. It is anonline accounting solution and not a streamed down version of a desktop accounting software. Xero offers quick dashboard access. You can also match your transactions in Xero. There is also a handy discuss tab where you can classify your bank transactions.
QuickBooks on the other hand has to be installed on a hard drive and the cost of the software increases with every new user. This software also requires a server for multiple users. If you want to share information with a CPA, you will have to give access to the server or exchange the downloaded file. Another disadvantage of QuickBooks, is that it forces you to update its software every few years.
Both these products are great for bank synchronization, bank reconciliation, accounts payable, accounts receivable, inventory, invoicing, bill management, payroll, financial reporting, cashflow and document sharing to name a few.
Xero Vs QuickBooks
1. Easy bank reconciliation: QuickBooks and Xero enables users to sync bank accounts and download bank transactions, but only Xero allows you match previously recorded transactions with your bank transactions at the click of a button.
2. Bank rules for quick transactions: Bank rules are used to define how a bank transaction will be recorded. While Xero has hand this function for a long time, QuickBooks only incorporated bank rules into their system last year and is yet to catch up with Xero. Continue reading →
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