How ERP Brings Increased Productivity for the Financial Sector

The finance industry deals with stocks, equity, funds and hefty amount of investments. The aim of a financial service provider is to boost the profit figures of clients and build a mutually valuable relationship. However, increasing revenue for them not only limits to increasing customer acquisition and sales. It also signifies the fact that having a flawless process workflow also helps in downsizing costs and minimizing the turnaround time.

In a financial sector, especially in stocks, transactions happen in a single blink of an eye. Needless to say that these companies need to meticulously manage all the transactions and customer data. Thus, for streamlining these complex operations and increasing the level of efficiency, it is important to integrate an ERP software solution, which will deliver full data integration, ensure greater accuracy and accessibility of reports at real-time basis.

For a more detailed overview, here are some of the major advantageous [...]  Read More

Stash Your Cash – A Safe Haven for Your Savings

In the times we’re living in today many people are looking for alternative ways of saving their money. As inflation and debt levels continue to soar while wages remain stagnant, it’s becoming increasingly difficult for people to grow a nest egg.

In the book, “The Richest Man in Babylon”, Arkad was widely known for his great wealth. The story suggests he had a working theory of, “A part of all you earn is yours to keep. It should be not less than a tenth no matter how little you earn… pay yourself first.”

Unfortunately, most of society has strayed away from this thinking.

The fact is Canadians aren’t saving as they once did and collectively are holding record high levels of debt. The average household savings rate in Canada has dropped from about 20 percent in the 1980’s, to 5.8 percent in the fourth quarter of 2016.[i] Many people believe they cannot save because after paying “all their bills” [...]  Read More

9 Reasons You Should Always Carry $200 in Cash

We always need money to purchase what we need and desire. As consumers, we pay using old fashioned cash, or the more sophisticated credit or debit cards. Cards became popular sixty years ago and today they are used more frequently than cash. Yet, when you are in a pinch and can’t use either card, keeping $200 in cash on you is the next best alternative for nine reasons.

1. Electric grid shutdown: This is truly a nightmare that can destabilize the entire country, causing all electricity in the country to shut down. This scenario will turn off your credit and debit cards so you can’t use them at all. Not only is it good to carry money, but buying $200 worth of supplies before it occurs is essential to surviving the ordeal.

2. Frozen debit or credit card accounts: Both types of cards can freeze due to fraud. Banks freeze debit cards due to lack of funds in an account. Credit cards can be frozen due to missing payments when they are due. If you only [...]  Read More

Defining Inflation

Inflation is a steady rise in prices, owing to which, incomes and savings of the population will depreciate. Even the weakest inflation is dangerous for the development of the modern monetary economy. Therefore, all countries (including the most developed ones), take anti-inflationary measures to reduce inflation rates.

What causes?

Inflation – a monetary phenomenon associated with issuance of excessive money for circulation compared with the supply of goods. This increase in money occurs for various reasons. And the first of them is the growth of incomes of the population, not supported by a corresponding increase in the production of goods. This excessive demand pushes up prices and increases inflation rate. This imbalance between supply and demand for goods and services can also be resulted by crop failures, import restrictions, or actions of the monopolists. Also, rising costs of the production and increasing expenses of enterprises for wages, taxes, [...]  Read More

The Invention of Man That Is Destroying the World

Money, finance, the economy, and the impending end of the world are all linked and the reason is obvious. Greed and wealth creation is first and foremost in the minds of most who see nothing wrong with destroying the environment and taking whatever they can from others. Their goal is hoarding as much as they can while showing the rest of the world how great they are. What they don’t know is how poor they are.

Following my reincarnation and with a strong link to the Spirit of the Universe it has led me to see the big picture. At a time shown to me between lives it called to take me away from the world and teach me what life is about.

It’s a simple story but one that would be above the heads of most who try to understand it in the light of religious teachings and the greed that has impacted the earth. This is our only planet on which we can live and yet man is destroying it at a great rate of knots to make money and stick it in the bank or some investment portfolio.

 [...]  Read More

10 Rules for Composing Terms and Conditions for Your Invoices

Solid terms and conditions for your invoices are extremely important for your small business. If your invoices are complicated to understand or confusing to read, you may do some severe damage to your cash flow. Why? Mainly because if the client can’t understand your invoice they’re not going just pay. Your client wants to be sure that they’re being priced the proper amount of the goods or services that they requested.

1. Start thinking about all potential legal problems and scenarios.

The first thing that you must do before writing down your terms and conditions is to list all the probable legal obstacles or circumstances that could happen.

As an example:

– What measures will you take if the client does not pay the invoice?
– What will happen if you’re past due on delivering your services or products or service to the customer?
– What will you do if the client is dissatisfied with your goods and services?
 [...]  Read More

Bold Money Conversations That Can Change Your Life

From Kendall SummerHawk’s Feminine Money Mastery event, where women from all around the globe (and a few cool guys as well) gathered to improve their relationship with money, one of the most interesting aspects of this conference for me was learning to identify where we need to have “courageous money conversations” in our lives. These conversations are the ones we often avoid, as they bring up all sorts of disempowering money beliefs. We discussed how to make these conversations a routine practice and give them a methodology so that they aren’t as daunting to embark upon.

Powerful conversations can follow a format that eases some of the tension. Follow these steps and engage in, rather than avoid, the money talks that change your life.

1. Take a moment before the conversation to breathe and set your intention for the way you want the discourse to go. Decide on the outcome you want ahead of time and be very clear in your own mind before the other person is present.

 [...]  Read More

Why Is the Blockchain Technology Important?

finance blockchain technology

Let’s say that a new technology is developed that could allow many parties to transact a real estate deal. The parties get together and complete the details about timing, special circumstances and financing. How will these parties know they can trust each other? They would have to verify their agreement with third parties – banks, legal teams, government registration and so on. This brings them back to square one in terms of using the technology to save costs.

In the next stage, the third parties are now invited to join the real estate deal and provide their input while the transaction is being created in real time. This reduces the role of the middleman significantly. If the deal is this transparent, the middleman can even be eliminated in some cases. The lawyers are there to prevent miscommunication and lawsuits. If the terms are disclosed upfront, these risks are greatly reduced. If the financing arrangements are secured upfront, it will be [...]  Read More