business Archives

Traditional logistics versus technological players

Posted on December 20, 2019 by Malcolm Eppinette

Although the rewards of a digital transformation can be significant, so are the challenges to making it happen in logistic industry. Traditional freight forwarders are reluctant to implement modern technological solutions. They still prefer proven methods of customer service and preparing quotes.

What are the most important reasons for this? What is holding them back?

The reasons for the lack of investment in modern software

There are at least three reasons why a freight forwarder does not invest in modern software. The first is belief that creating a state-of-the-art IT environment is a must before launching a digital transformation. But this belief is a misconception. The implementation of modern technological solutions can be phased. Building systems that cover the entire business of the company is not necessary. A better strategy is to focus on areas where it is possible to quickly increase competitiveness.

The second reason for the lack of investment is faith in the effectiveness of currently used solutions. Freight forwarder believe that their customers prefer personal contact with sales employees, they are accustomed to negotiate rates and do not expect any changes. However, the ability to quickly receive information about the price of the service is one of the service standards most appreciated by customers. This strengthens their willingness to use the services of a specific company and builds loyalty.

Finally freight forwarders hesitate before implementing freight rate management software because they don’t know if the investment will bring the expected growth. This is another mistake. The effectiveness of the sales team is one of the most important factors affecting the level of sales. Improving the freight quote preparation process increases the number of potentially supported queries and translates into increased sales.

The emergence of technological competition

One of the strongest threats for traditional freight forwarders is from players that are adopting digital technology as the basis for business model. That lets them compete with a much lower cost base and operational excellence.

More and more such companies are appearing on the market. Their founders believe that the industry is ready for digital change which will significantly improve customer experience.

Investors who are willing to finance a technological startups also believe in the technological future of the industry. Innovations are not only related to the implementation of freight rate management software, but also to cargo monitoring, transport safety and transactions. Instant freight quotes are just the first step in the digital development of the industry. Blockchain, artificial intelligence and others are waiting in queue.

Opportunities for traditional freight forwarders

Fortunately, traditional freight forwarder have many opportunities to apply digital technology. Modern freight rate management software helps not only to improve their operations and grow their businesses but also to maintain their existing customer relationships with acceptable costs and acquire new ones.

But first they must believe that investment will be profitable and will not mean that their business must be turned upside down or rebuilt from scratch.…

Financial Problems Around The World

Posted on June 30, 2019 by Lucille Stouch

As much as economists try to avoid this situation, it seems that the economic downfall of a country or domain affects the surrounding nations and market fields, as well. Initially, it was believed that a separation of each economic field would prevent financial recessions from happening as the crisis within one domain would not affect the rest of the domains. In 2008, however, a series of events came to shatter this lawyer Perth belief down by proving that a disease in the bank industry can weakened all the other industrial branches.

The instability of the two biggest currencies in the world, the dollar and the euro, has had powerful effects over the other nations that used to make business with companies in the West. Everyone expected the Japan and Chinese companies to gain popularity during the years of the economic recession and the Asian continent to become one of the main players on the market. However, it appears that American companies were their main buyers; Thus, the low buying power of the American customers has produced significant losses in the income of the Asian companies.

Europe, as we very well know it, is affected by the downfall registered in the stock market as most of the countries import oil. Currencies in Europe are connected to the Federal currency as the price of the oil is given by the US dollar. If the value of the American currency lowers, the price of gas increases and thus, the entire Europe will be affected by these growing rates. As a consequence, the increased price of the gas will determine a growth in the costs of numerous other products that are transported and delivered in stores with the help of trucks, cars and other means of transportation.

Third world countries have always had financial and economic problems and their issues seem to aggravate in the years to come. Since many of the local or multinational countries have been forced to close some of their headquarters, the rate of unemployment in third world country has gone sky-high. Consequently, many more protests are expected to take place in the following five years all over the world, especially in these underdeveloped countries.

People have the power it takes to overcome this difficult period; all they have to do is to reduce the amount of unnecessary expenditures and become aware consumers of products. Adopting an optimistic attitude will turn out to be very helpful as we can use the current economic downfall to invest in tangible products, such as, gold coins that will later on, improve our income.…

4 Dirty Tricks That Financial Advisers Play

Posted on June 29, 2019 by Lucille Stouch

When it comes to money you want the most competent financial advisor to help you grow your assets and provide you with income, especially at a time closer to your retirement. However, over the past few years hundreds of millions have been lost due to bad investment advice from greedy financial advisors who know very well that the products they advertise are way too risky for average investors. The best product for you may or may not be the one that generates the highest commission for them, I have seen many investors blindly trust their advisers and buy a lot of low quality investment products that end up costing them a lot of money. It is important for you to understand that just because something is unethical does not make it illegal, and the current regulations do not provide enough protection for you as an investor. It is, therefore, very important for you to know the common tricks.

Some private bankers even went as far as breaking the law to profit themselves. Take the case of Kevin Wallace, an ex-Merrill Lynch private banker who offered financial advices to many Asian tycoons and their families in the late 90s. Mr Wallace was a Harvard Business School graduate, a high profile banker accused of unauthorized trading and later sent to jail. Singapore’s high court found Wallace guilty of forging signs and trading stocks without client permission. The incident was discovered by suspicious clients who complained to Merill Lynch that. Wallace had told them that there was no need to look at the official documents from the bank as they were incorrect. Interestingly, none of the bank’s support functions such as risk management, operations, compliance and audit was able to detect the funny business before the clients made a formal complain which triggered a high level investigation. Visit SEO company.

Mr Wallace was asked to resign shortly after. Merrill Lynch later filed a case against him and the judge ordered a payment of US $ 25 million to be made by Mr. Bush. Wallace to the bank.

There are several common tricks that financial advisors play:

Trick 1: Offering financial advices for “free”
Good, experienced private bankers charge a service fee for conducting careful research and analysis. They would carefully review a client’s financial goal, investment time span, risk tolerance and special family needs before deciding if certain portfolio strategies are appropriate. They would also disclose any conflicts of interests in the asset allocation process. Most advisers you meet out there, however, are only salespeople who get paid by the number of financial products sold. I would say about 60-70% of the advisers belong to this category. Because they do not get paid unless they are successful in selling certain types of products (often complex, risky derivatives), advisers would often recommend products that are inconsistent with your overall investment goal. The “free” advice you received often turn out to be very expensive as your portfolio loses tens of thousands of dollars.

Trick …

How a Home Loan Calculator Can Be Helpful to You

Posted on June 28, 2019 by

Home loan calculator is the automated tool that helps the user to automatically determine the EMI of the loan by provicing the inputs of total loan amount, repayment period and rate of interest.

Such calculators are used by most of the professional in the banks and other home loan departments to calculate the loan EMI and seo ohio save time. This tool is freely available on internet and can be downloaded easily for home use. One can also calculate the loan amount and find out the estimated and planned loan amount with interest sitting at home and just providing the basic details about the loan. This tool is providing much beneficial for the professionals as it saves much of their time. Any changes in the interest rate or loan amount do not require making changes in whole calculations from the beginning, but you just need to change the amounts in the relevant columns.

If you are thinking of buying a new house and do not have any idea about the home loans and the terms associated with it, the home loan calculator is the best option for you. Here, you just need to enter the figures of the loan amount required, interest rate charged by the bank and repayment period and you will directly get the details of the loan payment and the principal EMI amount.

Columns in the Home Loan Calculator:

Home Loan Amount: It is the total amount of the loan required by the individual for starting the business. Entering this amount and filling the other necessary details, you can know what will be the monthly installment for that particular loan amount.

Annual Interest Amount (%): This column requires the input of the annual rate of interest charged by the bank or the money-lender on the home loan. The annual interest amount can vary from bank to bank and lender to lender.

Home Loan Term: This column represents the total repayment period of the complete loan amount including the rate of interest. The borrower has the option for choosing the repayment period according to his paying capabilities. If he chooses the short-term period for loan repayment, the monthly EMI for the loan amount will be higher. If the repayment period is maximal, the EMI will be minimal.

Starting Month: The EMI starts after the loan is disbursed to the borrowers. You can provide the month when your loan process is completed and loan is ready to disburse in this column.

Display Usage: This calculator also provides you with the option for displaying the output information in the tabulated or plain text format. You can select any one option as per your interest.

This loan calculating tool is gaining popularity for being used by many people for evaluating the details of the home loans immediately with proving some input figures. This tool can save your time and without going to the banks you can calculate the estimation for the home loan if you know the interest rate charged by …

A Financial Advisor for Private Wealth Management

Posted on June 26, 2019 by

Private wealth management, usually abbreviated as PWM describes the investment and financial management services provided to investors and include aspects such management of trusts, real estate, businesses and stocks planning. Investors with vast estates and business usually desire a level of anonymity and most of the time the banking transactions are handled with high security levels and strict rules on confidentiality. Most of these investors need a dedicated account manager and a financial advisor who will guide them in the different aspects of the management of their wealth. Many financial and investment institutions offer these kinds of services and in order to find the best type, the investor should ensure that they check out a number of things in order to select the most effective financial advisor.

Since the financial advisor will help the investor achieve their goals, it is important that the investor will check out their background information as this will help them determine their capacity as a financial advisor. This is very important because the investor is putting his financial issues in the hands of these advisors and therefore they need those that are trustworthy. While inspecting their backgrounds, it is also essential that the investor ask for references in order to contact previous or current clients, to discuss the experiences of the adviser. This will also enable them single out those individuals who offer the same advice to all their clients since all different investors come with different needs.

It is also very important to make sure that the financial advisors are certified. Those that have a certification are known to hold a higher standard of professionalism since they follow a code of ethics as well as proper advisory practice standards established by the certifying body. Additionally, the years in practice should also be considered, the more years the advisor has the better services would be because they have knowledge and skills that encompass all areas of wealth management.

Different financial advisors for Private wealth management come with different investment properties and investors should find out about these before they hire one. The investment philosophies should reflect the needs and plans of the investor and should be appropriate all through- whether in good times or bad times. The Investor should ask the adviser for portfolio examples that is similar to their situation in order to understand their strategies and plans before they make their decision.

The other important thing for the investor to do is understand the manner in which the investors are compensated. Financial advisors can be paid as based on a commission, based on a fee, on fee only or a combination of the three. A trustworthy financial advisor will give appropriate and clear details of all the types of fees that the investor need to pay, as well as all the expenses in relation to any type of investments that they make. It is recommended that the investor seek those who are geared towards independence because they will be willing to give them …

Why Financial Accounting is Crucial For Every Business?

Posted on June 25, 2019 by

Financial accounting is important part for every type of business like small, mid and large business. Financial accounting is the field of accountancy concerned with the preparation of financial statements for pronouncement makers, such as stockholders, suppliers, banks, employees, government agencies, owners, and other holders. accounting may be the single most critical data method your company will require. Financial accounting aims to generate two basic financial reports, the balance sheet along with the earnings and loss statements. A predictable software system uses a ledger of accounts to categorize financial activities of one's corporation.

Financial accounting is used to arrange accounting information for people outside the organization or not concerned in the day to day running of the company. Management accounting provides accounting information to assist managers make decisions to handle the business. In short, Accounting is the procedure of abbreviation financial data in use from an organization's accounting records and publishing in the form of annual or monthly quarterly reports for the benefit of people outside the organization.

Accounting Information of employees which play an essential responsibility has to be managed in an appropriate way so that at the year end reports can be generated effortlessly without any hassles. It is very essential to set up appropriate business financial strategies which can be followed so that the business can eventually meet the schedule. The different tips that will assist you to flow the cash in the accurate way and will assist you to understand the need of the accurate arrangement of the different business financial accounting can be listed as follows:

• Check Financial Transactions
• Revising Billing Statements
• Review the Invoices
• Maintaining Transparency
• Updating with Taxation Rules
• Follow GAAP for Accounting Management
• Maintain Simplicity in your Accounting Records

These are certain principles that the accountant or any other accounting services provider outsourcing company should pursue in order to run the business fairly and to meet the financial require of the organization. A methodical accounting procedure helps the business to develop and thenby meet the estimated profit. …

How to Buy a Business in Australia

Posted on June 24, 2019 by

So now its time to take that big plunge and be your own boss. Where will I start? What do I look for? And for that matter what business will I buy? Will I relocate? Can I get finance? Who do I go to for the right advise?

These are just a few of the concerns when you decide on buying a business and believe me its not an easy road ahead, but with the right advise and the right business for you there are rewards unlimited to help you on the way to building a bank and a good quality of life. This article will help you all the way.

Important Points when Buying a Business

Every day I receive emails from purchasers and business owners needing assistance in selling or buying. I use my many years of experience in business sales and running a chain of shops to assist them in the right decision for them. It's a bit like a psychologist really. Its just not a sale for me, it's a dedication.

The first thing to remember is you must get it right the first time because the business you buy should be in for at least 4 to 7 years. I advise my sellers and purchasers to give yourself a 4 year plan. You may love the business so much you want to stay longer but the majority of people are burnt out after 4 years and are looking for a change, especially if it's a café or restaurant, and if you feel it's wearing you down the business will suffer if you do not sell then and of course you will not achieve a good price if the business is run down.

Finding a Business!

I find in my business newspaper advertising brings me very little sales. My statistics tell me a genuine purchaser will go to the search engines to find a broker and scan the lists. We do use the papers to get our website name out there and this works to our advantage far more than a long expensive add that lasts one day. Our site http://www.bestbusinessbuyes.com.au is the most valuable tool we have and our journal Best Business Buys gives you months of good reading to give a purchaser information on how to buy and where. So scan the net under search engines business brokers, if you can not find a business on our site there are other brokers listed that may be of assistance to you. Or better still tell us what you want and we will go find it for you!
Anywhere in Australia.

Problems with Newspaper Adverts

You will often see a private add in the paper and you may think this is great, we will cut out the agent and get the business cheaper.

DO NOT BE FOOLED!

Now I am not saying all private adds are no good, some may work out, but in my experience those people who try to do it themselves do it …

The Advantages and Challenges of a Family Owned Business

Posted on June 21, 2019 by

Family Business account for over 80% of all US businesses, contribute 50% of our Gross National Product and provide half our workforce. However only about 10% of family businesses make it to the third generation due to the unique challenges family companies encounter.

Starting a Venture with your Family …

There are certain advantages to starting a family venture:

– Initial costs and losses are easily shared.
– Later success benefits the family as a whole.
– Enables the family to be together.
– Family may trust each other more than outsiders.

However, there are many challenges which come up during a start-up venture that need to be addressed:

Tips for Spouses jointly running and starting a business:

– Follow business rules; romance is for non-business hours.
– Clearly define each spouse's role.
– Accentuate each other's talents.
– Keep business and personal life separate- understand the inherent conflicts of interest.
– Set strong ground rules and understand you will not always agree.
– Define your expectations specifically and clearly.
– Set aside family time.

– Involve young family members in the business for fun, short tasks and jobs.
– Have a system for recognizing and rewarding hard work and accomplishments of family.
– Understand clearly what the business relationships of Family are.
– Have a solid Business Plan which clearly defines the company structure, responsibilities, roles, strategic direction and so forth.
– Clearly identify who is the lead entrepreneur.
– Identify the strengths and weaknesses of each family member.
– Understand each family person's business experience and background.
– Establish how much money each family will contribute.
– Agree up front how equity will be divided.
– Honest and clear communication between family.
– Professional, business environment and structure.
– How and where non-family will be incorporated into the venture.

If You Join an Early Stage Family Venture …

Advantages for family persons joining a new family venture are numerous:

– Family can help and are inexpensive during the development period.
– Family wants the opportunity to help the business as it benefits the family as a whole.
– Flexible hours, days and pay are attractive to family member initially, using minimum resources.
– The business brings family back together.
– Family members Join the family venture because they are frustrated with their current work place and environment.

Issues to consider for an early stage family Venture:

– Largely interpersonal issues. Experience role reversals.
– Resentment can build if a family member is not adequately challenged and rewarded.
– Issues relating power, rivalry and jealousy are common among family members.
– Take in consideration a family member's personal interest, skills, experience and training when assigning areas of responsibility.
– Define, exactly, each family member's area of responsibility.
– Define who each family member is accounting to, as well as, for.
– Determination compensation structures- salary, bonus and equity stakes.
– How will a disagreement be handled?
– What will be done if a family is not contributing?
– If …

How to Start an E-Business

Posted on June 20, 2019 by

Because I've been running successful online business for some time now, people always ask me how they can achieve a similar level of success. How can I build a high-traffic website? How can I start an e-business online? My series of articles here will outline from a birds eye view how to start in several ways and what the benefits are.

I see how frustrated they get when they spend hours upon hours trying to put together a website that can earn them a full time income so that they can quit their jobs and have financial independence, its tragic to see them always giving up with in the first six months and sometimes even sooner than never getting enough traffic or maybe the idea just was not so profitable after all.

All of the successful E-businesses built by hand all have one thing in common. They are built around a formula that is usually referred to as "CTPM" Which stands for Content> Traffic> Presell> Monetize. Create in demand content, attract targeted traffic, Presell those visitors, and then finally monetize the presold traffic. This is the business model that many successful internet businesses and affiliates follow.

This business model usually will be best paired with a blog centered around a highly targeted subject that can be ever monetized. A website can also do well but the websites do not update with fresh content as often as blogs do. So my advice is to start a blog and fill it with a massive bulk of high value content about a subject you know a lot about and enjoy. This way you will not get sick and tired of it as well as you will not have to constantly be in the grueling process of researching the subject you're bored out of your mind with.

After you have at least forty blog posts or a website with one home page, ten tier two pages and at least two sub tier tree pages in each of those while using high quality high value keywords that traffic will come from than you can start to monetize it through ad sense and affiliate offers. …

Debt Management Agreements – The Pitfalls

Posted on June 17, 2019 by

Credit counseling is not a very well-regulated industry today. In the past, credit counseling was operated more like a social service rather than as a business designed to make a profit. The industry was known by the general term CCCS (Consumer Credit Counseling Service) and operated under the general guidelines of the NFCC (National Foundation for Credit Counseling).

The lay of the credit counseling landscape has changed. As more and more consumers find themselves deeper and deeper in unsecured debt (think credit cards), more and more for profit credit counseling services have sprung up. Some of these services are very good and very fair, but be aware that not all of them are. Some credit counseling services are good, others are bad, and then there are those that are just evil.

1. The debt management service that you choose should be a member of the BBB (Better Business Bureau). You can check with the BBB to see if the company has a good record and if there have been any complaints filed by others. Membership in the NFCC (National Foundation for Credit Counseling) or AICCA (Association of Independent Consumer Credit Counseling Agencies) is also acceptable.

2. If the debt management service promises you that it will take 20 minutes or less to solve all the financial problems, you need to run as fast as you can. They are referring to THEIR financial problems and not yours. It takes time and effort by a debt management service to help with your financial problems and get you the best deals possible.

3. Be certain that the debt management company can help with all of your unsecured debt and do not just deal with a few companies. Half a fix is often worse than no fix at all. …