Author: Mei Ling Tan

  • Nowhere to hide for online sellers as taxman catches up

    Nowhere to hide for online sellers as taxman catches up

    Many individuals who have been earning thousands of dollars from Facebook, Google, YouTube, and other online platforms have been taxed in recent years, officials said.

    The HCMC Tax Department for instance said at a forum Friday that it collected over VND8 billion ($342,759) each from two individuals last year and this year on their earnings from YouTube and TikTok.

    In 2018 it collected VND4 billion from a man who earned VND41 billion from Google, it said.

    It also found a person in Quang Nam Province earning nearly VND17 billion from Google and passed on his details to authorities there.

    In 2017 it discovered a woman had sold cosmetics worth over VND499 billion through live streams between 2013 and 2016.

    She had to pay over VND9 billion in taxes and fines.

    An individual who supplied the goods to her had to pay over VND1.7 billion.

    The Hanoi Tax Department said it has discovered at least 1,194 people with incomes from foreign entities like Google and Facebook and collected VND129.3 billion last year and VND134 billion in 2020 from them.

    Last year it set up a database, which now has 32,084 online shops and 2,307 online property landlords, for collecting taxes.

    There are 139 companies operating e-commerce platforms in Vietnam, and they record an average of 3.5 million visits a day, according to the General Department of Taxation.

  • Vietnam Airlines cuts losses by nearly half

    Vietnam Airlines cuts losses by nearly half

    Vietnam Airlines managed to cut its losses by 44 percent year-on-year in the second quarter to VND2.48 trillion ($106.25 million), thanks to soaring summer travel demand.

    Its revenues nearly tripled to VND18.43 trillion, exceeding its target by 35 percent.

    This was the highest quarterly revenue since 2020 when travel was yet to be affected by Covid-19. But the high fuel prices remain a sore point for the carrier.

    At the end of June, JetA1 fuel was above US$160 per barrel, double the average price last year.

    International travel demand has not fully picked up, especially in Northeast Asian countries, which were a major source of tourists for Vietnam pre-pandemic.

    The airline also saw sales expenses double to VND660 billion.

    First half losses were down 39 percent to VND5.1 trillion.

    Its accumulated losses have climbed to VND28.9 trillion. The airline expects the summer travel season to last until the end of August and the relaxed entry restrictions in other countries to help boost its revenues.

    Vietnam Airlines and its low-cost subsidiaries Pacific Airlines and Vietnam Air Services Company together transported nearly 9.5 million passengers in the first six months, 24.6 percent higher than targeted.

    Vietnam Airlines accounted for eight million.

  • Bamboo Airways appoints new general director after predecessor quits

    Bamboo Airways appoints new general director after predecessor quits

    Bamboo Airways appointed new general director Friday night after Dang Tat Thang, who helped set up the airline in the early days, resigned as its chairman and general director.

    Nguyen Manh Quan took the new position after having served as the carrier’s deputy general director.

    Quan joined Bamboo Airways in July 2020 and has 30 years of experience in aviation, service, and commerce. He used to work for the Ministry of Industry and Trade, Vietnam Airlines, Noi Bai Airport Services Company, and Vinpearl.

    Bamboo Airways said in a statement Friday: “The transition of the general director position is part of the work to consolidate the high-ranking management system to speed up the process of restructuring of and selecting strategic investors for FLC and Bamboo Airways.

    After leaders of property group FLC, the parent company of Bamboo Airways, got into legal trouble earlier this year, the airline has been in the process of looking for new investors to accompany and serve its future development needs.

    Thang said in his resignation letter that for some personal reasons, there were many things that he needs to sort out, therefore he could not arrange to continue his current positions. He also resigned as FLC’s vice chairman.

    Thang, 41, was appointed chairman of FLC and Bamboo Airways after former chairman Trinh Van Quyet was arrested at the end of March for allegedly manipulating the stock market.

    He served as FLC’s vice chairman from early this month after the group elected Le Ba Nguyen as its new chairman for until 2026 at an extraordinary shareholders’ meeting.

    Thang started working at FLC in 2014 as deputy general director, in charge of investment and project development. He was the leader of Bamboo Airways from the early days of its establishment in 2018.

    Under his management, Bamboo Airways has generated rapid development with a roster of 30 aircraft and became the first private airline in Vietnam to operate wide-body aircraft. After over three years, Bamboo Airways is operating nearly 60 domestic routes and 12 international routes, including routes to the U.K., Germany and Australia.

    In his most recent public appearance in July, Thang said that Bamboo Airways aims to increase its roster to 100 aircraft by 2028.

  • 7 days left to register for Startup Viet 2022

    7 days left to register for Startup Viet 2022

    Startup Viet 2022, an annual event hosted by VnExpress to promote entrepreneurship, closes registration in seven days.

    The sixth edition of the competition, themed “the New Era of Innovation,” has received dozens of registrations since it opened June 13.

    The startups are from various sectors including e-commerce, logistics, fashion, manufacturing, agriculture, customer service, business management and software development.

    The contestants will be evaluated based on revenue growth, organization, sustainability and international prospects by startup experts, investors, venture fund representatives and other successful businesspeople.

    To register, click the link below:

    Startup Viet 2022 Registration

  • China Now Has More Than 1.85 Million 5G Base Stations

    China Now Has More Than 1.85 Million 5G Base Stations

    China’s Ministry of Industry and Information Technology said that the country has now deployed more than 1.85 million 5G base stations nationwide as it pushes for its target of a total of 3.64 million by the end of 2025.

    According to the government website, fixed asset investment in the telecommunications industry has also increased by almost 25% year-on-year, now reaching 189.4 billion yuan during the first six months of the year.

    Data from the industry regulator shows that as of June, the country has deployed more than 1.85 million 5G base stations, and the number of 5G mobile users was at 455 million.

    The spokesman and chief engineer of the Ministry of Industry and Information Technology, Tian Yulong, stressed that initiatives should be undertaken to immediately begin a series of crucial projects in 5G, gigabit optical networks, the industrial internet and other new information infrastructure to both broaden investment and boost consumption.

    Officials also said that China is seeking to add 600,000 5G base stations this year and speed up their upgrade of the industrial internet.

  • SpaceX To Roll Out Starink Satellite Internet Services by Year-End

    SpaceX To Roll Out Starink Satellite Internet Services by Year-End

    The Philippines’ Department of Information and Communications Technology (DICT) has announced that SpaceX’s Starlink satellite internet services will start to be available by the end of this year.

    A press conference was held to update the media on the latest developments in this much-anticipated project to address the digital gap in the country.

    In a press release, DICT chief Ivan John Uy said, “The DICT is closely following the directives of President Ferdinand Marcos Jr., that is to provide digital connectivity across the many islands of the Philippines by building the country’s digital infrastructure, that will also lead to effective e-governance.”

    He added, “This will bridge the digital divide in the country especially in an archipelagic country like the Philippines where laying fiber cables or establishing cell towers in mountainous areas can be challenging.”

    Starlink is expected to connect the rural and remote communities in the country, which are underserved by major telecom operators. This breakthrough is a response to the new government’s call for digitalization of the country, wherein Filipinos from remote areas can have access to education, health services and online banking, among other digital needs.

    SpaceX Executive Rebecca Hunter said that Starlink’s entry to the country does not mean competition with existing telecom players, but rather it will be a complementary connectivity solution to bridge the digital divide in the country.

     

  • New management To Steer UBS Hedge Funds Business

    New management To Steer UBS Hedge Funds Business

    The Swiss bank’s cherished hedge fund boutique O’Connor is reshuffling its top management at a time when the industry is seeing significant outflows.

    UBS is naming Blake Hiltabrand as global head of UBS O’Connor business, and is appointing Bernard (Bernie) Ahkong and Casey Talbot as co-CIOs of the unit, it said in a statement Friday.

    All three will replace Kevin Russell, who carried out the roles of CEO and CIO at the bank’s hedge fund business and looks back on a 29 year career in the industry, it said.

    Hiltabrand, who currently co-heads event driven strategies will assume his new role on October 1. Hiltabrand has worked at UBS O’Connor for over 15 years and is a senior member of UBS O’Connor’s management team and capital allocation forum.

    Talbot currently heads of credit strategies for the global multi-strategy portfolio and will assume the additional role of co-CIO for the portfolio. Casey joined UBS O’Connor in 2013 from Deutsche Bank and is a senior member of the UBS O’Connor capital allocation forum.

    Ahkong, who heads UBS O’Connor in Europe and is the portfolio manager for the European long/short equity team, re-joined the firm in 2016 from BlueCrest Capital, having previously been a portfolio manager at UBS O’Connor from 2006-2013. He is also a senior member of the UBS O’Connor capital allocation forum.
    Hedge funds have seen huge outflows this year, with institutional investors withdrewing an estimated $27.5 billion from hedge funds in the second quarter as they position themselves for global inflation and a recession.

  • Are We Heading Towards Passwordless Log-In?

    Are We Heading Towards Passwordless Log-In?

    Technology is constantly evolving, and new innovation is taking place. Firstly, the users had a password to protect their accounts; multi-factor authentication was created to give an extra layer of protection. However, with time, new requirements emerged. For instance, keeping a strong password or changing the password at regular intervals which then became a matter of inconvenience. Now with new changes, we are heading towards passwordless sign-in. 

    Why Passwordless Log-In?

    Passwords once considered secure are no longer secure enough to protect different accounts. Passwords can be guessed and hacked. For instance, a laptop whose password is guessable can be operated by anyone, which can have many dangers, especially when IP addresses can be easily tracked. If you do not know the IP address of your device, use What Is My IP platform. Finding the IP address can be this easy!

     

    Also, most users do not follow any digital hygiene while creating or securing their passwords. It is common to find users one or two passwords for all the accounts simply because it is easier to remove. The downside is that if one account is compromised, all accounts are at risk. 

    Therefore, big companies like Google, Apple and Microsoft are moving towards Fast ID Online Alliance (FIDO) or passwordless sign-in, which is considered both secure and convenient for everyone, especially if it becomes industry standard. 

    The Problem With Passwords 

    Every account requires a password. An average internet user will have plenty of accounts, a few important ones like an online bank account and a few unimportant ones like a gaming account. However, the accounts’ passwords are almost similar for easy remembrance. This makes passwords extremely unsafe. 

    There are plenty of other issues with passwords. With the brute force method, it is easy to generate a common username and password combination that can compromise an account. With credential stuffing, the information available in one account can be used to compromise another account. Phishing, one of the most common ways of carrying out a cyberattack, can leak a victim’s credentials. Keylogging can capture the username and password keystrokes of the users. Hence, there are many problems, which is why passwordless log-in is in the picture now. 

    Passwordless Log-In And Its Types

    Passwordless log–in allows passwordless authentication. In other words, it can verify the identity of the user without the need of the password. There are plenty of ways through which password log-in can be supported. 

    Firstly, biometrics like fingerprint or retina scans and behavioural traits will play a key role in identifying a person without needing a password. We already have a fingerprint and face scanner that enables the user to login into a device like a laptop or a smartphone without entering a password. However, its application is not still widely used in the software. 

    A second way to support passwordless log-in is through the possession factor. In this approach, the identity can be verified with authentication of something the user carries. It can include OTP through SMS and even codes generated by a smartphone authenticator app. We mostly see its usage in multi-factor authentication. 

    Further, there is an option of running magic links to the users. In this method, the user receives a magic link in their email address through which they can access their account. 

    The Benefits Of Passwordless Log-In 

    Passwordless log-in is beneficial, especially for the users who use risky passwords for their accounts. Further, it enhances the user experience by eliminating the need to keep and remember different passwords. This increases the convenience of the users. Few of the major benefits of password-less authentication come in the form of improved user experience, strengthened security and simplification of IT operations. 

    Apple, Google And Microsoft Are Supporting FIDO 

    All three prominent companies have joined together to show their support for FIDO. With the development in this segment, it will become possible for consumers to engage in passwordless sign-ins across all platforms and devices. If implemented, the user will need to sign into different services individually, on their devices. This will also enable switching passwords. 

    With the expansion of the services, the users will further be able to sign in without passwords both in their new and old devices via FIDO. it will eliminate the need for individual login to the different accounts. FIDO is further trying to enhance the smartphone sign-in option. If the development follows the plan, the smartphone will act as a universal key for all the users’ accounts. 

     

  • In House Content Development: Is It Worth The Investment?

    In House Content Development: Is It Worth The Investment?

    Content creation is important in the present time, especially when digital marketing is booming across the globe. With the world going online, pushing out relevant content for the consumers is extremely important for a business. With the help of content, it is possible to increase brand awareness and brand loyalty and further build customer engagement. 

    However, pushing out good content and that too consistently is difficult. This raises the question of whether one should have in-house content development or outsourcing is a good idea. In-house content development requires plenty of resources like the high-internet connection that you can verify on either Speed Test or PLDT, a proper dedicated team and financial resources. On the other hand, when you outsource content development, you must specify the guidelines. 

    It raises the question of whether one should engage in in-house content development or outsource it. Both of them demand investment in resources. However, which process is worth the investment?

    Outsourcing Content For Long Term Is Bad 

    In the beginning stage, many businesses outsource the content because it looks like the best option. It is the best option, especially when a business is just starting. However, in the long term, outsourcing content is a bad idea. Firstly, most businesses experience hiccups during the entire content generation process. The risk increases, especially when the client fails to meet the deadline. As a result, the return on investment decreases significantly. 

    Further, the client may not always know about the daily development of customers and prospects and aligning everyone at the same time always requires time and effort investment. Furthermore, if all the recent developments are not considered, the content quality suffers. On the other hand, the in-house content development team takes into account all these factors. Here are a few reasons why investment in in-house content development is worth it. 

    Deeper Understanding Of The Brand 

    A dedicated team working for the brand and constantly in touch with the development taking place in the company will always have a deeper understanding of the brand. Further, content creation requires experimentation. The in-house team can take the risks of experimenting with different content and further polish it depending on the requirement of the brand and customers. 

    Flow Of Ideas 

    An in-house team can easily access all the members working for the brand. Therefore, it becomes extremely easy to stay in touch and connect the different dots to create the perfect brand. One does not require to engage over email or phone again and again to change the instructions or to give out feedback. Graphic designers, product designers, photographers, and other key members can all work together to create the best content possible. 

     

  • Why We Need To Say Goodbye To Fast Fashion?

    Why We Need To Say Goodbye To Fast Fashion?

    The fashion industry is all about glamour, and being fashionable. Most of the time, it comes at the expense of the environment, especially when it is all about fast fashion. Fast fashion borrows the name from the fast food industry that is all about cheap, in-season and fast-moving products. Fast fashion is trendy, but it is not long lasting. Therefore, it is essential to take care of fast fashion. 

    Fashion is cheap and disposable, which is why it is a part of modern life, especially amongst the young people who can purchase such items. However, investing in fast fashion is similar to investing in Lottery Sambad and recklessly spending the winning amount after winning the Dhankesari ticket. It might give temporary benefits, but in the long run, it is harmful in several ways.

    The Impact Of Fast Fashion 

    Most fast fashion clothing is designed to last for a short period. Therefore, most of these clothes are thrown away after a short interval of time. Such garments end up in landfill and create nuisances for the environment. Not only does it pollute the land, but it also emits greenhouse gasses. The fashion industry is the second biggest consumer of water. Further, it is responsible for about 9% of global carbon emissions. To give you an idea, this is the carbon emission produced by combined international flights and maritime shipping. 

    Also, the process involving the creation of fast fashion products results in water pollution and further dries up the water sources. According to the UN Framework Convention on Climate Change report, textile emissions will increase by 60% in 2030. Therefore, now is the right time to say goodbye to fast fashion to avoid this damage. 

    It is common for fast fashion to use synthetic fibres like acrylic, nylon and polyester to create clothes. These fibres generate microplastics that often end up in the ocean. Microplastics are non-biodegradable plastic that can tragically harm the marine ecosystem. 

    Not only the impact of fast fashion is high on the environment, but also, it has many societal problems. Most fast fashion production occurs in developing countries where there has been evidence of forced and child labour. Now that we know the impact of fast fashion, here are a few ways to engage in a responsible fashion. 

    Invest In High-Quality Key Pieces Of Clothing 

    The sure shot way of eliminating fast fashion from life is by investing in high-quality key pieces of clothing. Not only will it last long but also, it ensures that it stays fashionable. The consumer can identify the key pieces of clothing that they wear the most and invest in it to stay fashionable. 

    Further, one can work out different permutations and combinations to create a wide variety of designs from the key pieces alone. Buy less and always invest in high-quality products. 

     

  • How To Ensure A Balance Between Inventory And Sales?

    How To Ensure A Balance Between Inventory And Sales?

    With the recession taking place, many businesses that deal with physical products are considering overstocking the items to cut higher costs in the future. However, blindly overstocking the products can expose the businesses to the changes and further mercy of the consumer behaviour. Therefore, inventory management is a crucial part of businesses right now. There is a need to maintain a perfect balance between inventory and sales.

    With inventory management, the business can increase and improve customer service, cash flow cycle, resource capacity utilisation and supply chain efficiency. Furthermore, it reduces working capital requirements and inventory loss. Listed below are few tips for proper inventory management.

    Anticipating Customer Demand Is Essential 

    Consumer demand is dynamic; it keeps changing according to the economic condition. Even though it might seem a good idea to overstock the items and ship them through Ninja Van and other prominent shipping services like Shopee Xpress, it is essential first to ensure that there will be consumer demand. Overstocking inventory can put the business at risk as the inventory value has a chance to drop, and the business will be forced to push out the stock at heavy discounts. 

    Sales forecast plays a vital role in inventory management. It is essential to conduct thorough market research and collect all the necessary data to check whether the sales will be high or low. It is only through this information that it is possible to create the perfect inventory balance. 

    Identify The Risk Inventory And Get Rid Of It 

    Even though inventory acts like a shock absorber, it is critical to identify the risk inventory and eliminate it for its proper functioning. Identifying the risk inventory enables the business to reduce the cost of inventory management. Dead and obsolete inventory should be removed to ensure that the businesses have more cash on hand. 

    Alignment Between Sales And Stock

    When you keep the sales and stock levels in alignment, it is possible to ensure that you do not undertake or overstock the inventory. Keep real-time stock level data and adjust it whenever a transaction happens. There are plenty of tools out there that provide good recommendations about the items that need restocking. Further, keep the past trend in check to predict what you can consider in the future by considering the necessary variables. 

    Analyse Supplier Performance 

    A reliable supplier makes it easy to take care of the stock whenever it is required. On the other hand, an unreliable supplier can create plenty of problems. Keep the supplier’s performance in check and ensure that they are reliable. Further, the businesses should switch if the supplier is unreliable. Not only a reliable supplier is vital, but it is also essential to ensure that it provides the stock at competitive pricing. 

    Keep 80/20 Inventory Rule In Mind 

    The items that fetch the most money for a business should always stay in stock. In business, 80% of the company’s profits come from 20% of the stock. A business should identify this 20% of the stock and prioritise them in the inventory. Further, a complete understanding of the sales lifecycle of these items is important. Developing this understanding is possible when these products are closely monitored. 

    Track Sales And Understand The Pattern 

    During tough times, like the current recession, tracking sales daily is essential. Further, not only tracking the sales is important, but it is also crucial to understand the underlying pattern of the sales too. Analysing the sales data will shed light on the bestselling products and, further, identify the seasonal trend too. It will give the business the understanding that is required to restock the inventory at the right amount. 

    Inventory management might look tough, but it is not always tough with the right analysis and understanding. Keeping a tab on the inventory-to-sales ratio is vital to ensure that the inventory management is doing okay. Most of the time, the amount of inventory that needs to be kept is guesswork. However, it is possible to make intelligent guesswork with the right tool. 

    During the recession, taking inventory management seriously is extremely important. The items should neither be overstock nor understock. With proper planning, analysis and work, it is possible to engage in efficient inventory management that can ensure business profit even during tough times. 

     

  • The Relevance Of Customer Sentiment Analysis In Business

    The Relevance Of Customer Sentiment Analysis In Business

    Perception often becomes a reality in the business world. Perception has a habit of spreading like a forest fire through word of mouth. Therefore, it becomes essential to ensure that the perception of the customers and even non-customers towards your business is good. It has a direct impact on the credibility and reputation of the business. Even though perception is important, the real question is how can a business analyse customers’ perception of a business? The answer lies in customer sentiment analysis. 

    Just like we know, if someone has uploaded a Sad Status on their WhatsApp Status, the user is sad. Customer sentiment analysis allows the business to analyse how the customers feel about the business. With the analysis, a business can find whether the customer feels positively or negatively about the brand. 

    The Importance Of Customer Sentiment Analysis

    Customers are king for a reason. Their happiness and satisfaction matter for the growth of a business and there is no doubt about it. Research has indicated that a customer who has experienced a positive feeling while purchasing will tell an average of nine people about the experience. On the other hand, a customer who had a negative experience with a brand will tell 16 people about it. 

    In addition, customers with a positive experience will stay loyal to the business for more than five years compared to those with a negative experience. Further, the cost to serve a customer reduces by 33% when the customer experiences a positive feeling. It is why it is important to keep customer sentiment in check. 

    Customer sentiment analysis also throws light on customer loyalty and the customer lifetime value, which is essential to growing the business. 

    How To Do Customer Sentiment Analysis?

    If you are running a huge business, it is manually not possible to engage in customer sentiment analysis. Thankfully, there are software and tools that can automatically detect the customers’ sentiments through Natural Language Processing. 

    With the help of Natural Language Processing, it is possible to detect whether the customer’s sentiment is positive, negative or neutral. 

    The Benefits Of Customer Sentiment Analysis 

    The ultimate aim of any process involved in a business is to increase the profit for business. The same truth goes for customer sentiment analysis too. Here are a few benefits of customer sentiment analysis. 

    1. Better customer service 

    After experiencing bad service, most of the customers complained about it. There is a high probability that they will stop associating with the brand after the negative experience. However, it can be taken care of through customer sentiment analysis. After identifying the customers who have had negative experiences, the businesses can go ahead and provide them with better customer service by solving their business. Through this method, you can eliminate the negative experience of the customer. 

    2. Brand reputation management 

    Brand monitoring is essential, especially on social media platforms where everyone can view the comments. Through customer sentiment analysis, it is possible to monitor the mentions that a brand receives and is associated with negative emotions. Quick action towards it can help the brand to maintain its reputation. 

    3. Provides room for improvement 

    Customer sentiment analysis on the features of the product or services that require improvement. A sudden rise of negative mentions indicates a sudden need to fix an issue. Further, it helps the business better understand the customer’s requirements. 

    4. Hyper-personalized experience for the customer 

    Customer sentiment analysis can also be used to segment customers of your business based on their emotions towards the brand. It allows businesses to create hyper-personalized experiences and allows them to bring more sales. 

    5. Improved marketing and sales plan 

    With a new launch in the market, through customer sentiment analysis, it is possible to check whether the customers are experiencing any issues or not. Further, the reaction of the target audience can be measured. It gives the necessary data to the business for making any adjustment in the marketing or sales plan for the good. 

    Customer sentiment analysis is invaluable for any company. Every customer interaction provides room for growth for the business. The valuable information it provides makes it possible to improve the business and maximise profit. It is always wise to analyse customer sentiments and keep the brand’s image positive. 

     

  • Why A Team Of IT Consultants Is Important For Your Business?

    Why A Team Of IT Consultants Is Important For Your Business?

    If you are not very familiar with the field of the internet and technology, it can be difficult to keep up with the latest trends and developments in the world of technology. Having a knowledgeable expert on your side can help your team stay ahead of the competition. By having an IT consultant team on your team, your team can gain access to all the important information that can help to beat the competition.

    An expert IT team that has a broad knowledge of various platforms and technologies in your field will provide your team with solutions that will help your business succeed. If you are getting double-minded about whether to hire an IT consultant team or not then these reasons might help you refine your decision:

    Integration Of Technologies

    A major benefit or reason for having an IT consulting team on your side is they can help with the integration of new and old technologies. Technology is becoming more and more complex due to which it is becoming difficult for many businesses to handle, integrate, and coordinate everything on their own.

    A team of IT consultants can help with the integration, upgradation, and usage of existing applications and systems. They can provide solutions to all of the compatibility and integration problems that may arise with new technologies. The team will most likely consist of IT experts who are familiar with the technologies and applications that are being used in the industry, so integrating new and existing technologies won’t be a problem for your company anymore.

    Cost-Savings

    Hiring a team of IT consultants also helps with cost savings. To stay up with the competition, an investment in new technologies and applications is required after every few years. Upgrading technologies and implementing new applications required specialized knowledge of different types of software and hardware along with familiarity with how these applications and technology work.

    An expert IT consultant team who has knowledge about the latest technologies being used in the industry will be able to help with everything, right from upgrading the technologies to training the staff members. There also won’t be any need to hire additional IT staff or hire an IT consulting firm as you will already have an expert IT team on your side.

    Prevention Of Loss In Employee Productivity

    You can also prevent a loss in employee productivity by having a team of IT experts on your team. If there isn’t a team of IT experts on your team then it can take only a computer crash or a network disruption to cause a major dip in the productivity of the entire office and these issues can happen at any time, sometimes in the mornings resulting in loss of productivity throughout the day.

    Even a problem with a PC program like Excel to PDF editor can cause a huge dip in the productivity of employees who have to work with digital documents. Without an IT firm, these problems can take hours to be resolved where you will need to call an IT consulting firm, ask them to come over, and resolve the problems, whereas, with an in-house team of IT consultants, these problems will be fixed in a few minutes. Whether it is a computer crash, a network issue, or a problem with the JPG to PDF Converter, these issues will be resolved quickly by an in-house team of IT consultants preventing a decrease in workplace productivity.

    Customer Satisfaction

    Having a team of IT experts on your side can also help with customer satisfaction. Often it is seen that when customers encounter a problem and no one in the company knows the fix to it or resolves it then they can get very frustrated. Customers don’t like doing business with companies that can’t even resolve their problems.

    By having an IT consulting firm on your side, all your technological needs will be taken care of and the problems that your customers will face will be taken care of. The reason why you will be hiring a team of consultants is to provide solutions for different technological problems and in this way, if your customers ever face any problem with technology at your company then it will be taken care of which will result in happy customers.

    New Business Strategies

    A team of IT consultants will also help with the growth of your business. Since they will be familiar with the technologies being used in the market, they will give suggestions to implement new technologies into your business operations. They will come up with new marketing strategies and how you can beat your competitors by using technology. Just having a team of IT consultants on your side, you gain a clear-cut advantage over your competitors. 

     

  • What Are The Benefits Of Ergonomics In The Workplace?

    What Are The Benefits Of Ergonomics In The Workplace?

    There is no doubt about it, ergonomics are helping to create a safe and efficient work environment for employees in offices so that they can perform at their highest level without having to worry about any physical injury. The main reason behind the implementation of ergonomics is the basis of creating a safe and efficient work environment where employees feel like going every day. 

    Some people, however, still avoid ergonomics and the implementation of a workplace because they think that it is not worth spending so much to make sure that employees don’t suffer any physical injury. These people are clearly wrong because there is no reason to risk the health of your employees over a little investment. Read on more to find out the importance of ergonomics in the workplace and why ergonomics shouldn’t be ignored:

    Improved Health Of Employees

    The main reason why ergonomic workplaces are designed is to improve the health of workers there. When employees work in a workstation where everything is comforting and beneficial for their health then they suffer fewer injuries. The major problem that people face while working in poor ergonomic workplaces is musculoskeletal disorders. Simply by improving the posture and maintaining the height of the chairs, you can see a 50% decrease in MSK disorders.

    Similarly, ergonomic workstations include adjustable chairs so that you can work at a specific position where you won’t be putting strain and tension on your eyes or neck. It also prevents the development of varicose veins and swelling in the legs because ergonomic workstations are designed in such a way that your blood flow is optimal.

    Higher Productivity Levels

    With an ergonomic workplace, your employees are better focused and they can work at higher productivity levels. By designing a workstation that is adjustable and allows for good posture, less force extortion, better reaches, and fewer motions, the employees are going to love it just as a board game lover loves the Word Unscrambler. An ergonomic workstation allows your employees to focus better which results in them having high levels of productivity.

    For your business to be successful, it needs to have productivity. Just changing the workplace for your employees and making it better for them will make them feel more comfortable, and valued, and they will feel like giving their best, which is obviously in the interest of your business.

    Better Work Quality

    If the place where employees work is not properly built and the workstation has poor ergonomics then it will lead to frustrated and fatigued workers who won’t be able to produce the best quality of work. Just because their workstation isn’t comfortable, the tools that they work with aren’t of high quality, they feel fatigued all the time due to which their work quality is affected.

    Simply by improving the ergonomics of the workstation and providing the highest quality of tools to employees and workers, you can see the best quality of work from them.

    Eliminates Potential Work Hazards

    Just as a person working in a lab wears a white coat, gloves, and safety goggles to protect himself against potential lab hazards, ergonomics in the workplace help to eliminate potential hazards. There are some unsafe distractions and daily hazards that can hurt your employees which can lead to serious consequences later on.

    Simply by applying ergonomics in the workplace, eliminating hazards that you observe yourself, and asking employees about the hazards that they face daily, you will be not only improving their safety but also letting them know that you care about them.

    Increased Employee Engagement

    When employees notice that their employer is making an effort to provide the best conditions possible to work and cares about their health and safety, they will feel like being a part of different business activities. Their interest in business activities will develop just as one’s interest in Scrabble develops after finding out about the Scrabble Word Finder

    You will notice they will be more motivated to work every day and this will help to reduce the turnover rate and increase the loyalty of employees as they would prefer working in a safe and comfortable place.

    Happier Employees

    Along with increased engagement, ergonomics also helps to produce happier employees. It all comes to you that how better are you able to utilize ergonomics in the office. The better you utilize ergonomics, the happier your employees will be. They will love coming to a workplace where they are able to work in a comfortable, distraction-free, and relaxing environment.

    You will notice it yourself when you will see that the mood of every employee is lightened up. When your employees are happy then it means that good days are coming for your company as they will be performing their jobs at the highest levels.

     

  • What Are The Benefits Of Workplace Automation?

    What Are The Benefits Of Workplace Automation?

    Automation is all around us, whether you believe it or not. From scheduling interviews to taking over day-to-day repetitive tasks, automation is everywhere. Some people are afraid of the fact that AI might replace them and take over their jobs but we haven’t yet reached a point where AI can fully function on its own without the need for human assistance. 

    With Automation in the workplace, productivity around the workplace is increasing. We are not even bothering ourselves with tedious and repetitive tasks as they are all done through automation. With AI taking over the repetitive tasks, we get more time to focus on important tasks that can help the business grow instead of wasting a few hours every day on a task that isn’t determinant to the company’s success. With that all said, let’s have a look at the benefits of automation in the workplace:

    Increased Workplace Productivity

    We are seeing a decline in workplace productivity, which could be because the employees are getting lazy or they are burdened with too much non-productive work that their productivity is hampered.  Businesses should be looking for ways to improve their workplace productivity to attain better results at faster rates and increase their revenue. 

    One of the ways to improve productivity is by automating repetitive and tedious tasks. Every day, every week, every month, and every year employees worldwide lose so many work hours just because of repetitive tasks that could instead be automated. A task like organizing job interviews or setting up a meeting seems minuscule but they can take so much of employees’ time without them even noticing. 

    So why not automate such repetitive tasks and give more time to employees so that they can focus on the work that matters, improve their productivity, and perhaps, play a game like Solitaire to refresh their minds. Just by automating these simple tasks, businesses can save so much and generate more money as employees would get the time to get more work done. All of this is just because of automation.

    Boosts The Morale Of Employees

    Automation in the workplace and business processes can boost the morale of your employees. It can also help to take a company to new heights of productivity and efficiency. When you automate different tasks around the workplace then the whole workspace is friction-free with minimal errors that allow employees to give their best. 

    When simple day-to-day work tasks are more manageable and automated then it becomes easier for the whole team to work seamlessly. Employees wouldn’t have to wait a long time for a task to be completed as automation software performs the tasks very quickly. When repetitive tasks will be taken care of then it will take the stress off of employees’ shoulders and they will be able to get things done in a better way. Just as playing Klondike Solitaire boosts your morale, workplace automation boosts the morale of employees.

    Cost-Effectiveness

    Workplace process automation is also a cost-effective option. Most workplace processes need to be performed manually because there are important tasks and handing them over to an automation software might not be the best thing to do but there are some workplace processes like repetitive tasks that can be automated and fully handled by automation software.

    Here the actual role of business process automation in cost-effectiveness comes into play. All the repetitive tasks can be handled by business process automation, reducing costs and allowing businesses to increase their revenue.

    Reduced Human Errors

    Workplace automation or business automation helps to reduce human error in repetitive tasks. Tasks like invoicing, data entry, or organizing can have human error but by automating such tedious and repetitive tasks, both the company and employees can benefit. As employees wouldn’t have to deal with such tasks which will translate into fewer mistakes and better employee satisfaction. A mistake by any employee in a task as simple as data entry or invoicing can end up being a huge blunder so automating such tasks is a win-win situation for both the company and the employee.

    Excellent Customer Service

    Workplace process automation can also be implemented in providing excellent customer service. The whole purpose of employing business process automation is to make things easier, faster, and more convenient. Customer service can be made better by using Chatbots to deal with customers. Chatbots are programs that use machine learning and artificial learning to interact with humans.

    Businesses all over the world have employed chatbots to automate customer service. These are highly-responsive and efficient programs that can deal with customers and provide them with the solution that they are looking for. There are also some programs available that can automate other tasks like organizing a meeting with clients, sending out invoices to clients, etc.