Month: October 2019

Improve Efficiency Of Your Operations With The Latest Business Management Solutions

Business Management blogger

In a perpetually changing business environment, companies operating in different industries require scalable solutions that can contribute in increasing the productivity and eliminating any kind of inefficiencies to increase their profitability. Whether you are in the retail industry, hotel industry or restaurant business or any other corporate field, you need solutions that maximize productivity, reduce operational costs and generate quick results. The latest business management solutions can go a long way in ensuring that you achieve all this within your budget. From accounting to sales and property management, everything can be carried out using the right combination of hardware and software systems.

In countries like Australia, it has become very common to see major players of the hospitality industry making use of the latest accounting systems and point of sale solutions to better coordinate their operations. Restaurants, cafes and bars etc. make use of restaurant POS systems as these considerably reduce the man-hours and help in serving fast & accurate orders to customers. Moreover, there are several innovation based companies in Australia that manufacture accounting systems for hotel Point of Sale and motel of sale so that the cash inflows and outflows can be handled with the highest level of accuracy. Not only can the accounting systems Hotel Point Of Sale help in reducing data entry errors but also save considerable amount of time and money.

Today, hotels, resorts & restaurants have the option of getting customized Point of Sale solutions designed for meeting the specific requirements of their businesses. The business solution providers first assess the needs of the hotel or motel in question and then suggest a combination of hardware or software that can best fulfill their requirements depending on the scale of their operations. Apart from the accounting systems and motel point of sale solutions impeccable property management software can prove to be ideal for managing reservations, group bookings and even multiple tariffs. Since the entire process is automated there is no scope of manual errors, missed reservations, double bookings or guest charges.

Even the costs incurred by an in-house guest on accommodation, telephone, at bar or restaurant, and room service can be seamlessly tracked and processed using an accounting system Point of Sale. Using the latest software restaurants or bars in a hotel can instantly transfer the in-house guests costs to their room accounts. Property management software can help in managing Transaction Packages, Multiple rooms per booking, corporate activity tracking, floor plan display, maintenance tracking and even mailing list management. Therefore, if you are an aspiring player of the hospitality industry in Australia, bring the desired amount of efficiency in your operations using the latest business management solutions.

Determining Kpi Metrics For Measuring Brand Impact On Your Business

Business Management blogger

The idea of a brand is deeply rooted in the psyche of managers as being associated with the delivery of tangible products to consumers but today we are increasingly delivering intangible services rather than goods so is branding still relevant. Traditionally a business has been viewed by senior management as split into discrete divisions, sales and marketing, production, HR, IT, legal and accounting. Some divisions created revenue and b the brand identity was important for customer recognition and action needed to be taken to maximize that while other divisions created cost that reduced the brand value and this needed to be cut. Following this methodology would logically result in increased profits.

This led in practice to highly dysfunctional decision making with, for example, IT staff being cut only for decreased effectiveness across the business producing reducing sales generation and increasing costs in other parts of the business.

Decreased profitability was the result of making otherwise perfectly logical business decisions based on KPI metrics.

The Balanced Business Scorecard seeks to address this dysfunctional approach to business management and looks at how the entire business operates as a cohesive, holistic whole. Viewing all divisions of the business as creating value allows for logical rational business decisions that do lead to increased shareholder value and enhanced profitability.

Is measuring traditional brand metrics still relevant?

The blunt answer is yes, the company brand is perhaps more important than it ever has been but how the brand is being used has probably altered greatly as is how the value of a brand is perceived not just by customers but also by shareholders.

For many listed companies the value ascribed to the company brand accounts for more than a third of the company share value. In many instances, brand value accounts for far more than that. The issue is how do we measure brand value and what metrics are available for us to use as part of a Brand KPI tool.

Using financial metrics for brand performance measurement you will find the following as the primary metrics to monitor and analyze:

– Sales Generation – measures brand as a factor in the purchasing decision
– ROI – measures the ROI using the accounting goodwill value and treating it as any other balance sheet asset
– Transaction Value – looks at the contribution from product lines and product mix and the impact of the brand on that contribution
– Growth Sustainability -this is a measure of how much the brand is contributing to sales rate growth without the business introducing further investment to gain that market share.

Financial value is probably the simplest metric to determine as we can extrapolate “goodwill” valuations using accounting and financial data coupled with share price information. At least with share pricing information we have a set finite value that the market is placing on our business and the financial accounting information can give us a basis for determining how much of the price the market will pay for a share is determined by the valuation of the goodwill.

Measuring brand perception and performance is trickier as we dealing with nebulous concepts that we know have an impact but cannot directly measure. Performing customer awareness surveys will help in providing a measure of how well known the brand is with consumers in a given section of the population or target market segment. All of these can be measured but the metrics that are produced are based upon subjective questioning and even more subjective answers.

Save Money with Small Business Management Software

Business Management blogger

Small businesses owners often find that there are certain times of the year when cash flow is not as healthy as it could be. This could be due to the fact that the business has seasonal customers, money being spent wastefully or through outmoded business practices. Regardless of the reason as to why money is being lost one thing is for certain good business owners and managers are all looking for a way to save the business money.

One way to save money in a small business is to implement small business management software. Software such as this enables a business with less than 50 employees to be operated via one software application. By being able to switch to one application a small business owner can save thousands every year as all other applications that require a monthly or annual fee to be discontinued.

As soon as they see just what small business management software can do many business owners and managers are keen to start using it. Not only can small business management software save a business money in terms of slashing the number of applications a business has to pay for it also saves money in other ways such as:

Increasing the number of leads that are converted into sales with ease. When using small business management software an employee can create a quote and save this to a customers file. This will contain their contact details and other relevant information. If this quote is not accepted within a certain period of time, this lead can then be chased up by the sales department.

By ensuring that projects are always completed on time a business will not lose customers. With small business management software projects can be assigned and tracked in real time. Managers and owners can quickly and easily check on projects that are nearing their due date in order to ensure that they are progressing as they should be. By utilizing this feature projects should never be behind schedule ever again, which means that money will be saved in the long run through customer retention.

Small business management software also allows employee calendars to be seen by owners and managers at a glance. This means that projects and so on can be planned with regard to staffing numbers. Money is therefore saved by ensuring that all employees are working to capacity and not being diverted to projects which are already fully subscribed.

As small business management software is web based it means that it can be accessed from anywhere in the world that has an internet connection. So if a manager or owner is away from the office on business they can access the application and get any information that they need. This saves business money as laptops and mobile internet is not required when an owner or manager visits potential customers.

These are just a few of the ways in which small business management software can save a business money each month.

High Net Worth Individual Singapore Wealth Management Industry

Business Management blogger

Original Source: High Net Worth Individual Singapore

Buy Now: Market Research

HNWIs population and wealth is growing at a very fast rate when compared to the global and Asia-pacific average. The wealth of HNWIs in Singapore is growing at 35.6%, whereas wealth of HNWIs is growing at 17.1% globally and 25.8% in APAC. The population of HNWIs is growing at 35.6% in Singapore, whereas it is growing at 18.9% globally and 30% in APAC. The growing wealth and population of HNWIs in Singapore provides a huge opportunity for wealth management companies. It is imperative for wealth management companies to know the changing needs and behavior of HNWIs in order to increase their profitability and customer base.

HNWIs in Singapore are demanding frequent personal interactions with their wealth managers. They want their managers to possess better product knowledge, be open to new ideas, and personally interact with them on a regular basis. They want them to understand their needs and the risk associated with a particular investment product. One of the major reasons why HNWIs change their wealth managers is their failure to understand the needs of clients.

The growing population of HNWIs in Singapore is providing a huge opportunity for wealth management firms to increase their revenues and customer base. The main purpose of this report is to study the changing needs and behavior of HNWIs in Singapore. It also aims to study their investing patterns and the factors, which will drive HNWIs wealth and the challenges faced by wealth management firms.

Scope of the report
Market Overview
This section discusses the market size and segmentation of the wealth management industry as a whole, and segmentation of the wealth of HNWIs in Singapore based on the way they have accumulated it, and the different asset classes and geographies in which they invest it.

Market Dynamics
This section discusses the trends related to changes in the needs and demands of HNWIs in Singapore as well as the factors that are driving wealth creation in the country. It also discusses the investments made by HNWIs in different asset classes and the challenges faced by the wealth management firms.

Trends of HNWIs in Singapore
This section discusses the varying demands of HNWIs based on their age group and the criteria they follow to choose their wealth managers. This section also discusses what asset classes are favored by HNWIs in Singapore.

Business case study
The case study discusses the measures taken by Oversea-Chinese Banking Corporation (OCBC) Bank based in Singapore, to improve customer service by streamlining its operations and save time on managing client information.

Company Profiles
This section describes companies offering wealth management services in Singapore, and includes an overview, primary business, wealth management operations in Singapore, strategies followed by them and recent developments related to wealth management operations in India

What makes our report unique?
A strong heritage of providing cutting-edge research:
MarketsandMarkets provides clients with ground breaking marketing research. M&Ms unique research methodology and expert analytical capabilities will provide you the tools to apply the best marketing practices to your Financial Institution.

Ensure that your strategy is viable:
Our study will help you examine the breadth of possibilities you may encounter when planning future strategies and product launches. It will help you create plans that are resilient enough to meet the full range of unanticipated events.

Discover new opportunities:
This market research study will forecast the future roles, uses, and acceptances of new products, services, and applications emerging in the marketplace. It will identify opportunities where companies can get a leg up on the competition.

Key questions answered
How Singapore HNWI offers opportunity to the wealth management firms.
Needs, demands and behavior of HNWI in Singapore
Factors which will drive the growth of wealth in Singapore
Challenges faced by wealth management firms
Trends of HNWI in Singapore
What are the major drivers and opportunities in the market?

Powerful Research and analysis
The analysts working with MarketsandMarkets come from renowned publishers and market research firms globally, adding their expertise and domain understanding. We get the facts from over 22,000 news and information sources, a huge database of key industry participants and draw on our relationships with more than 900 market research companies.

Hygiene, plus why we think it’s essential for fluid as well as ventilation systems

Business Management blogger

Almost 30 or 40 years ago, commercial and industrial properties were built in addition to internal systems for instance air, heating, water and electrical were thought of as acceptable, until they broke. Many of these systems had been left relatively un-tampered with until particular issues arose, and that had been regarded as the norm up until the very last decade or thereabouts.

I am unable to remember a situation where cleanliness of those systems affected people or office stationed employees. But, don’t think everybody’s wellbeing was unaffected, most probably that afflictions were blamed on the common cold or standard viruses.

With advancements in technology and scientific procedures, numerous different work based health issues were being found to proliferate inside a typical buildings systems. Water systems are at risk to bacteria like legionella, e-coli in addition to coliforms. Hot and cold water systems and tanks have to be cleaned out and supervised on a regular basis. An infection with these sorts of infections is more often than not caused by ingestion or breathing.

Air con and airing ducting also has for the most part been brushed aside prior to the mid-2000s. Ducting is susceptible to the build-up of airborne debris with time, with kitchen extract systems retaining huge quantities of grease as well as oil. There have been a number of high profile kitchen fires lately, due to the accumulation of oil and the addition of high temperature. Kitchen vent systems are now been subjected to policies in addition to rules in which cleansing and standard inspections are compulsory. General supply and extract systems are likewise liable to identical regulatory rules, albeit not as strict.

Heating systems inside leisure and retail properties have kept basically the same over the years with adjustments for example building management systems in addition to chemical treatment procedures. Boiler chemical compounds such as decomposition inhibitors at the moment are included as a matter of practice. Cooling systems can be treated by chemical compounds for example ethylene glycol, as well as in systems where cooling towers are incorporated, legionnaires disease becomes a concern. Legionella is often cured with sodium hypochlorite or a similar disinfection substance, which has a biocide additive.

Electric systems vary in design and complexity, with wiring updates being an necessary requirement, especially throughout renovation or revamp.

In my view, the majority of the aforementioned expansion and improvements are imperative in boosting the entire effectiveness, performance and hygiene. But we must ask ourselves the query, Are they essential? A few of the system upkeep processes are obviously vital, legionella aversion to name one. Although i somewhat believe stricter and stricter health and safety policies and guidelines, combined with legal private claims are causing it to be harder for UK companies to be competitive with our own EU colleagues.

We can certainly anticipate that as time continues, the same policies and restrictions are used collectively. This would provide an equal quoting platform, as well as consequently provide UK companies an opportunity when competing for commerce.