CFI.co Blogger, Author at CFI.co Blog

5 Skills Needed for Success in International Business — *Photo Courtesy of Pixabay.com*

International business is so much more involved and politically charged than it was even a decade ago. The need for a unique set of soft skills to help you navigate the international scene has become essential. While you still need to be an efficient negotiator and have analytical skills, the more subtle skill set will make a difference to your success.

To remain competitive on the international stage, new graduates must have critical soft skills to help them relate to their colleagues and clients. Corporate management is still looking for those that excel at the technical skills but are also interested in candidates that are proficient in networking, adaptive thinking, and collaboration.

With inclusive programs from MBA Discovery, future business associates will learn how to adapt to the changing world of business. Let’s take a look at a few of the crucial soft skills that will help you succeed in international business.

Cross-Cultural Communication

Thanks to the reach of the internet and the convenience of modern travel, companies are doing business across the world. Your role in any industry will include working within a diverse environment. Finding ways to communicate across cultural lines effectively is essential to your success. You will need to keep an open mind, respect differences, and have a high level of appreciation for different cultures, traditions, and religious beliefs.

Networking Abilities

Developing a collaborative network outside of your home country is essential to success in today’s business world. When you have a strong international network, you are often afforded opportunities you would never have otherwise. Online platforms like Linked In make networking across the globe an easy task. Making lasting connections requires diplomacy, excellent listening skills, and mastering your elevator pitch to be sensitive to all cultures.

Adaptive Thinking

To be an effective adaptive thinker, you must hone your skills, including tact, impulse control, and humility. Having the ability to think outside of the box can help you to thrive in any international environment. When things change quickly, adaptive thinkers can control their impulses and come forward with a thoughtful solution.

Resilience

You need to be mentally tough and need to be able to bounce back from the long hours and regular travel that a career in international business demands. Changing time zones, long meetings, and late hours can take a toll. You need to build up your resiliency to be at your best with your international colleagues and clients.

Emotional Intelligence

Becoming a self-aware and confident business person will help you in your international dealings. Being able to control your emotions in various tense and serious situations will gain you respect from your peers and customers. Strong empathetic skills, a listening ear, and flexibility are all critical aspects of emotional intelligence.

If you are entering the realm of international business, you need to up your game to succeed. Strengthening your soft skills, including your networking abilities, being an adaptive thinker, heightening your emotional intelligence, and increasing your resiliency can assist you in becoming a successful international businessperson.

Budgeting

A Quick Guide to Bitcoin Kiosks

ByCFI.co Blogger

Cryptocurrencies are on the rise. So many people are investing in cryptocurrency, as well as using it for spending regularly.

And of course, the most commonly purchased cryptocurrency is Bitcoin. There are many ways to buy Bitcoin. One of the most underrated, though, is by using Bitcoin kiosks.

These are essentially ATMs that allow you to deposit cash or use a debit card to purchase Bitcoin, along with other major cryptocurrencies.

They are fast, efficient, and secure. So should you try using that Bitcoin kiosk located outside your favorite restaurant? Probably!

Here’s everything you need to know about buying Bitcoin using a physical kiosk.

Why Buy Bitcoin

Did you know that in 2010, the first purchase using Bitcoin was for two pizzas? Do you know how much that person spent on those pizzas? 10,000 Bitcoin.

Back then, Bitcoin was brand new, and no one knew what it was worth. Over the course of a decade, it started to catch on as a new form of internet currency.

Demand for Bitcoin grew, and with it, the price per coin. So while you could’ve purchased a Bitcoin for a few cents back in the day, it would cost you around $40,000 as of late September 2021.

That’s a huge gain. Bitcoins’ price has constantly been rising. Especially lately as it’s become a mainstream investment class, people worldwide are investing in and using Bitcoin regularly.

Many experts agree that Bitcoin’s price is likely to move past $100,000 in the near future.

So why should you buy Bitcoin? Most people buy it in hopes of seeing some of these impressive gains. They would love to make a 100% profit. And doing so is likely, as long as you can hold onto your investment long enough and not panic sell when the price dips.

Bitcoin primarily acts as a hedge. It will protect your money from inflation, which is running rampant these days.

If you’d like to invest in a unique asset that has provided far greater returns than anything else in the last decade, you should buy Bitcoin today.

What Are Bitcoin Kiosks?

One way of buying Bitcoin is by using a Bitcoin kiosk or ATM. These function just like regular ATMs.

But unlike a normal ATM, which puts cash in your bank account, a Bitcoin ATM uses the money you deposit to purchase Bitcoin at the current market rate.

So if you put a $100 bill into a Bitcoin kiosk when the price is $40,000, you would receive 0.0025 Bitcoin.

You can also use a Bitcoin ATM to sell Bitcoin in exchange for cash. So if you want to sell your 0.0025 Bitcoin one month later, when the price is $45,000, you would receive about $112, minus any transaction fees.

When buying and selling Bitcoin, and any other cryptocurrencies, you’ll pay blockchain transaction fees. These aren’t charged by the ATM but are changed by the blockchain to record the transaction down, which proves ownership over your newly purchased Bitcoin.

Benefits of a Bitcoin ATM

So why should you use a Bitcoin ATM over an online exchange? Bitcoin ATMs are fast and secure. Plus, they are easy to find these days. You can check out www.bytefederal.com to see where any of their 900 ATMs are located.

When purchasing via an ATM, you’ll complete your transaction in a matter of moments. And once of the main benefits is that identity verification is instant.

When you sign up for an online exchange, identity verification is an in-depth process. While this is considered a good thing, it’s a sign of solid security; it’s definitely a hassle.

It can take users a few days before they can actually start buying and selling crypto on an online exchange. But with an ATM, the process is instant.

Plus, your information and your Bitcoin are never exposed on an online exchange. These exchanges are the main targets for hackers since there is so much valuable currency and user data.

Attacks have happened in the past on all major exchanges. But with an ATM, you can bypass all of that.

How to Buy and Sell Bitcoin Using a Bitcoin Kiosk

So what do you need to do to use a Bitcoin kiosk? First off, you need to have a cryptocurrency wallet. When you buy Bitcoin for the first time, you need a place to store it.

You don’t receive any physical Bitcoin, as cryptocurrencies are virtual currencies that live on the internet. So your wallet is a device that stores transaction files.

You can either download a software wallet, which is an app on your mobile device or computer. Or, you can purchase a hardware wallet, which is the most secure option since it’s never connected to the internet. These are basically USB drives for storing crypto.

Regardless of what type of wallet you use, you’ll need a QR code, which displays your wallet address. When you visit an ATM, you’ll insert your money or debit card to make a purchase.

You’ll need to show the QR code on your mobile device, or even a printed version, which the ATM scans. Then, it sends your newly purchased Bitcoin to the wallet.

Keep Your Details Safe

Because your Bitcoin is instantly sent to your private wallet, this type of transaction is considered very safe. The most important thing you can do, however, is keep your wallet details safe.

Each wallet address comes with a private key and a public key. The public key is what you use to receive crypto to your wallet. It’s what you show to your ATM.

If you purchase cryptocurrency online, you would input your public key to transfer it to your wallet. If a friend worldwide wants to send you some crypto for your birthday, you give them your public key.

Displaying your public key is safe, and no one can steal from your wallet using your public key.

Your private key, on the other hand, is what authorizes wallets to send and release funds. Never share this with anyone. Write it down and store it in a safe place because if you lose it, you may lose access to your crypto.

Make Your First Bitcoin Purchase

Now that you know how to use Bitcoin kiosks to buy and sell this valuable cryptocurrency, it’s time to invest in some for yourself. First, set up your personal wallet, which doesn’t take very long at all.

Then, find your nearest kiosk and make your first purchase today. In a year’s time, you’ll be very glad you did.

Looking for more tips like this? Head over to our blog to keep reading.

Technology

Agtech Firm ‘Natufia’ wins KPMG’s Inaugural Saudi Tech Innovator Competition

ByCFI.co Blogger

Natufia, a Saudi Arabia-based agri-technology provider that enables you to grow fresh plants and herbs all year round, has emerged winner of the KPMG Private Enterprise Tech Innovator in the Kingdom of Saudi Arabia competition for 2021.

Dr Abdullah Al Fozan, Chairman, KPMG Saudi Arabia

Natufia now joins the winning tech innovators from 20 countries worldwide to qualify for the inaugural KPMG Private Enterprise Tech Innovator competition at Web Summit 2021 in Lisbon, Portugal, in November.

Natufia, which goes beyond farm-to-fork to provide herbs and plants from kitchen-to-table since its founding in 2014, was up against four other tech startups in a closely contested competition from BRAQ Aerospace, Juleb, Digital Pharma Company, Mawidy and Tarjama who are shortlisted from 22 applicants in this inaugural edition.

The Natufia Smart Kitchen Garden is an innovative automated garden for every home, offering 100% nutritious herbs and vegetables without GMO or pesticides.

A panel of four KPMG judges – Dr. Samer Abdallah, Head of ICT Sector, Fuad Chapra, Head of Private Enterprise & Family Business, Mazhar Hussain, Digital Lighthouse Leader, and Buthainah Albaity, Associate Director Private Enterprise and Family Business – chose the final winner after intense deliberations based on six equally weighted categories, including innovation and disruption, market potential, customer adoption, marketing traction, long-term potential, and quality of their pitch.

Dr. Samer Abdallah commented: “The response to the KPMG Private Enterprise Tech Innovator competition was astounding. The competition was pretty intense and demonstrated the thriving and flourishing technology community in Saudi Arabia. Amid innovative ideas and strong pitches from all contestants, Natufia was chosen the winner.”

“We are excited to be named KPMG Private Enterprise Tech Innovator in Saudi Arabia. We thank KPMG for the opportunity and support received throughout the process. We are all set to head to the Web Summit to share our concept with a global audience,” stated Duaa Albalawi, Chief Botanical Officer at Natufia.

The award was presented by KPMG in Saudi Arabia Chairman, Dr Abdullah Al Fozan.

About the competition

The KPMG Global Tech Innovator competition is hosted in more than 20 countries around the world. The Tech Innovator finalist in each country will represent their country on the world stage at Web Summit 2021, where they will be given the opportunity to get recognised as the global winner.

Banking

KPMG Report: NBFIs Lending in Saudi Arabia Sustained Growth in 2021

ByCFI.co Blogger

Khalil Ibrahim Al Sedais, Office Managing Partner – Riyadh at KPMG in Saudi Arabia

Highlights

Report provides a directional view on the $14.5 billion NBFI industry.
It is covering the real estate, automotive, commercial equipment and other consumer financing.
NBFI sector is expected to grow further backed by the measures taking inspiration from the AML compliance, fintech advancement, cybersecurity, business continuity planning and digitalization.
Currently, more than 35 NBFIs are operating in Saudi Arabia.
SAMA has further applied a new framework for the supervision of finance companies.

(RIYADH, DUBAI) – September 27, 2021: The first edition of KPMG’s Future of Non-Bank Financial Institutions (NBFIs) Financing looks into the performance of these institutions in the Kingdom. The publication provides a directional view on the $14.5 billion (SAR 54 billion) NBFI industry covering the real estate, automotive, commercial equipment and other consumer financing. This sector is already playing a pivotal role in lending to specific segments of borrowers in Saudi Arabia.

“Despite market turbulence, we have observed growth momentum during the first half of 2021 that started during the second half of 2020 after consumer confidence was regained. It is especially noticeable in the mortgage industry, where volumes were all time high due to domestic demand of housing, low interest rate environment and government guarantee for the first house of citizens. The NBFI sector is expected to grow further backed by the measures taking inspiration from the AML compliance, fintech advancement, cybersecurity, business continuity planning and digitalization in Saudi financial services sector,” said Khalil Ibrahim Al Sedais, Office Managing Partner – Riyadh at KPMG in Saudi Arabia.

Currently, more than 35 NBFIs are operating in Saudi Arabia. As at the end of FY 2020, the total paid up capital of these entities was SAR 14.2 billion ($3.8 billion) where real estate companies stand at SAR 3.9 billion ($1 billion), non-real estate companies SAR 8.8 billion ($2.3 billion) and Saudi Real Estate Refinance Company (SRC), as the refinancing entity of the industry, SAR 1.5 billion ($403 million).

Industry-wide total assets as at the end of FY 2020 were SAR 53 billion ($14.2 billion) which included real estate companies’ assets amounting to SAR 14 billion ($3.7 billion), non-real estate companies’ assets amounting to SAR 31.5 billion ($8.4 billion) and SRC assets amounting to SAR 7.5 billion ($2 billion). Moreover, there was an outstanding loan book, on and off-balance sheet, of approximately SAR 54 billion ($14.5 billion) which included real estate companies’ loan book of SAR 23.5 billion and non-real estate companies’ loan book of SAR 30.6 billion.

Despite SAMA’s new regulations allowing deposit-taking by finance companies, currently, NBFIs are highly dependent on borrowing and securitization as the main source for financing their lending activities. At the end of 2020, equity and liabilities totaled SAR 53 billion of which, liabilities accounted for 63%, while capital and reserves represented 27% and 10%, respectively.

Ovais Shahab, Head of Financial Services at KPMG in Saudi Arabia, said: “Over the past two years, major developments took place in the sector, including enhanced governance through issuance of new regulations mainly to govern deposit-taking, debt-based crowdfunding, provisions for the expected credit losses etc. Moreover, we have seen competition in the market and some players have gained market share on the basis of their customer reach and efficient onboarding process. SAMA has further applied a new framework for the supervision of finance companies, a risk-based supervision approach to oversee the sector and increase the maturity level of NBFI, a framework that is similar to those implemented to oversee the banking and insurance sectors and similar to what is used by other international regulatory bodies.”

Finance

Different Types of Stocks: A Guide for Beginner Investors

ByCFI.co Blogger

If you are considering investing in stocks, the first thing you need to do is understand the different types of stocks and how they work. You can then make a more informed decision as to what the best investment option is for you. Start by checking out the following guide for beginner investors.

*Image source: https://pixabay.com/photos/stock-trading-investing-stock-market-6525084/*

Common Stock

You can buy stocks in companies from a wide variety of sectors, from technology firms to casinos. You may like to invest in the latter if you enjoy playing games like roulette and blackjack at online sites like Kazoom Casino or in the former if you have a penchant for things like computers and machinery. But your investment choice needs to be based on the best financial option first and foremost. Before you begin looking at different sectors to invest in, you need to understand the different types of stocks that are available. The commonest form of stock that people invest in is aptly called common stock. It represents partial ownership in a company. As a shareholder, you can potentially have unlimited upside potential. However, there is a risk. If the company should fail without having any assets left over, you would lose everything. But if assets are left over, you would receive a proportional share of the remaining assets.

Preferred Stock

Investing in preferred stock works much like investing in common stock. The main difference is if the company should dissolve, as a preferred shareholder you have the right to receive dividend payments before common shareholders do.

Cap Stocks

Market capitalization involves stocks being categorized by the total worth of the shares. The companies that have the largest market capitalizations are called large-cap stocks. As companies get successively smaller, they are called mid-cap and small-cap stocks. Large-cap stocks are generally considered to be the safest investment. On the other hand, mid-cap and small-cap stocks are riskier but they have a greater capacity for future growth.

IPO Stock

IPO stocks are available in companies that have recently gone public via an initial public offering. IPOs always generate a lot of interest when the companies are creating a buzz and using a promising business model. But IPO stocks can also be volatile, especially if the investors disagree about the prospects for growth and profit. The very nature of IPOs means investors have to act early. A stock typically retains its IPO status for between one and two years, but it can be an IPO stock for as long as four years after it first goes public.

Growth Stock

Although growth stocks carry a higher risk level than many other stocks, their potential returns can be very attractive. Successful growth stocks have businesses that are on top of the rising demand among customers to identify long-term trends. There can be a lot of competition for growth stocks, though, and there is always the risk of a growth slowdown, which would make stock prices quickly fall.

Value Stock

Value stocks carry less risk than growth stocks, so they are seen as a more conservative investment option. You will typically find value stocks for experienced and well-known big companies that have little room for expansion because they are already market leaders and their business models have stood the test of time. If you are looking for more price stability, value stocks can be a good option.

Dividend Stock

You could choose a dividend stock, which means dividend payments are paid to shareholders on a regular basis. Choose the right stock, and your dividends could provide you with a valuable income. But due to that reason, they are highly sought-after. Furthermore, stocks are not required to pay dividends and non-dividend stocks can still be an excellent investment option.

Lifestyle

3 Questions You Need to Ask Yourself When Buying Your First Car

ByCFI.co Blogger

Buying your first car is an exciting milestone that promises a great deal of added freedom, but before you can enjoy yourself, you need to know how to handle the car-buying process as a first timer. Below are three of the most important questions you must ask yourself to ease your first car purchase.

1. What’s My Budget?

When it comes to buying your first car, budgeting is one of the most important factors. In all likelihood, this is one of your first major purchases, so you need to be smart and strategic about it.

Be realistic when setting your budget for the car itself. Think about your income as well as your current expenses (e.g. rent, phone bill, tuition costs). Then, consider how much money you’ll have left over each month and how soon you need a car. Figure out how much you can save up within that designated period of time and go from there.

When crafting your budget, you’ll also need to consider other expenses on top of the vehicle itself. For instance, think about car insurance and how much it will cost you on a monthly basis. To get a better idea of these expenses, try to get some online car insurance quotes from a few different providers. With this knowledge, you’ll be better able to take control of your money and make it work for you.

2. Is There a Brand or Make That Suits My Lifestyle the Best?

Consider what purpose you want this vehicle to serve in your life. Do you want something that is compact and easy to drive, especially around the city, or do you want a car that’s more spacious for long-distance road trips?

Based on the answers to these questions, you should be able to find the right car for your lifestyle. If you prefer a smaller car that’s easier to handle, you might like a Nissan Versa, a Toyota Yaris, or a similar model of car. On the other hand, if you want something roomier with lots of room for your friends, an SUV such as a Ford Explorer or a Hyundai Santa Fe might align with your needs a little better.

3. Will I Drive Manual or Automatic?

This is another important consideration you need to keep in mind when buying your first car: manual vs. automatic. If you only know how to drive automatic, then the answer to this question will likely be a bit easier for you. However, if you drive manual, you have more choices.

Many people find manual cars trickier to drive in stop-and-go traffic. If you plan to do a lot of city driving, you may be better off with an automatic. However, some drivers prefer the amount of control you have when driving a manual. If this sounds like you, a manual car could be a great fit.

If you’re in the process of buying your first car, self-reflection is an important ingredient in making the right selection. By asking yourself these questions, you’ll ensure that you pick the best car for you.

Finance

Money in the USA

ByCFI.co Blogger

Taxes

Nearly all working U.S. citizens are required to file their income tax returns with the Internal Revenue Service (IRS) each year. Everyone in the U.S. has a Social Security card, which helps record wages and income for tax purposes.

The main types of taxes are FICA and income tax (not to be confused with Payroll Tax). If you are in business, you need to be well versed in this, information to learn about the types of taxes available on this blog post.

FICA includes a Social Security tax and a Medicare tax on the health insurance program for the elderly and disabled. The Social Security tax is 6.2% and is paid only on income up to $132,900 a year; Medicare is 1.45% and is charged on all annual income.

As for the income tax, the tax rate rises with income and ranges from 10 to 37%. The federal income tax system in the states is progressive. The amount of tax differs depending on whether you are single, married, or head of household.

Medicine

There are both public and private medical clinics. The public clinic will ask about your income level when you fill out the form. If your income is less than $1,000 per month, each visit to the doctor will cost $35, to be paid immediately at the time of the visit. Tests can be paid in installments.

At a private clinic, the standard cost of a doctor’s visit in the absence of health insurance is $150. Things are more complicated with dentistry: it is much more expensive. It costs $200 to $500 to $500 to $500 to $1,000 to fix a tooth and $500 to $1,000 to put a crown on.

Loans

In our country it is very important to have a good credit history, otherwise, they will not rent a house and may not even be hired for a prestigious job.

It is interesting that most average American families live “in debt” and take out loans even for small purchases.

Credit histories are being scrutinized now, especially after the 2008 crisis, but if there are no problems with that, getting long-term loans with minimal interest and a fixed rate is relatively easy.

Housing

Approximately one-third of one’s income is spent on rent or mortgages, utilities, and home improvements.

The approximate cost of renting a 2-bedroom apartment in Florida is $1,200 to $3,000 a month, depending on the city and the area. Lodging most often rents without furniture.

The cost of buying a property is from 200,000 and up, depending on location and size.

Nutrition

Food is the third most expensive item in most Americans’ budgets. This spending varies by social and marital status and state of residence. For example, in California, Florida, and New York State, people spend about the same on meals “outside the home” and “at home,” while people in the central states prefer to eat at home.

Transportation

A bus ride costs $1.30 to $2.25 depending on the route; a subway ride costs $2.25. There are special prices for low-income people. It is also possible to save a little money and buy a bus pass.

Florida, like most states, has an underdeveloped public transportation system, so the main way to get around is by car.

Conclusion

· Being law-abiding is very important. Paying taxes on time is sacred.

· Every second invests in the U.S., preferring safer and more traditional investment instruments.

· Medicine is expensive here, but you can always buy insurance or pay for medical services in installments.

· Housing and transportation costs consume a large part of the budget.

· Many Americans traditionally take out loans for housing, cars, starting businesses, and other needs.

Business

Is Credit Repair Good or Bad?

ByCFI.co Blogger

You’re ready to make some major moves in life that require the best credit report you can muster. Well, you now have decisions to make. To wit, you can try to shine up your credit yourself or you can hire a credit repair agency. But is credit repair good or bad? Let’s take a gander.

The Issue

It’s difficult to move forward with too many negative marks on your credit reports, so it’s understandable that you’d want them removed. However, what you need to know is that, if you have the time, patience, and persistence, there’s nothing a credit repair agency can do that you can’t.

However, if the unfavorable items on your reports are accurate, they technically cannot be removed, and if you wait, they’ll fall off naturally in due time. Now, some companies can sometimes gum up the works to such an extent that the negative entry is extracted. However, this is a poor strategy and hardly ever works.

Let’s take a holistic look at credit repair.

Just What is Credit Repair?

At its essence, it’s hiring a credit repair organization to get info expunged from your credit reports. Most such firms tout themselves as being able to help you make unverifiable or incorrect info on your credit reports disappear.

The real deal, though, is that most companies try to also get negative, albeit correct, data off your reports before they, at length, drop off by themselves. Check out lexington law reviews to see what’s said about that leading credit repair company.

How Do I Know I’m Getting a Legit Company?

That’s a good and proper question, since scams abound in this industry. There are bad actors out there who seek to take advantage of existing financial and emotional vulnerabilities of people like you. The good news is that you’re protected by the federal Credit Repair Organizations Act, which sets forth what credit repair agencies can and cannot do.

For example, such companies may not:

Counsel you to make erroneous statements to the top credit reporting agencies: Experian, Equifax, and TransUnion.
Suggest that you alter your identity to block the credit reporting agencies from linking you with what’s on your credit reports.
Charge you up front, before they’ve performed services on your behalf.
Guarantee that it can get info from your reports removed.

Likewise, credit repair outfits are required to disclose to you the following:

You do have the right to, for free, dispute information in your credit report.
You can file a lawsuit against it if it breaches the Credit Repair Organizations Act.
While it will do its best to act reasonably to make sure the info on your reports is correct, mistakes are sometimes made.

How Much Does Credit Repair Cost?

It depends on the company, but credit repair companies generally either bill you at month’s end for services rendered during the past month or charge you per delete.

With the former, a kind of subscription service, you can expect to pay $50 or $100 monthly. Here, such companies are incentivized to keep you around for as long as possible. With the latter, “pay for delete,” the company doesn’t bill you until it gets an item removed.

So, is credit repair good or bad? The answer mostly depends on what you truly want. If you’re looking to have inaccurate or unverifiable information removed from your credit reports, but aren’t inclined to tackle the task yourself, then, sure, hire a firm. However, paying a company in hopes that, somehow, it can get adverse but accurate info removed is frankly a fool’s errand. If you can’t wait for the item to drop off by itself, perhaps you need a different financial strategy.

Finance

3 Benefits of Using a Stock Screener

ByCFI.co Blogger

*Photo Credit: Chris Liverani (Unsplash)*

Investing in the stock market is a great way to make an additional income and save for the future. Regardless of what you may have heard, playing the stock market is by no means a get-rich-quick scheme. It requires a lot of hard work and dedication. Some people opt to pay a broker to invest money on their behalf but if you really want to make a long-term pursuit of this venture, you’ll need to do the groundwork yourself. You’ll need to invest a lot of time reading about stocks and strategies, while keeping a constant eye on the market to spot the trends.

While it might feel overwhelming, especially for novice investors at the start of their trading journey, there are now plenty of tools that have been developed to make trading that little bit easier. One such tool is a stock screener, which allows you to trade through available stocks and can be tailored according to your investment criteria.

In this post, we’ll examine the main benefits of using a stock screener and how it can help you get your investment journey off on the right foot:

It Saves Time

There are thousands of stocks listed on the market, which can make screening them a tedious task. You’ll need to study the financial history of each stock in detail to evaluate its performance over time as well as its prospects for the future. This is no straightforward task. Thankfully, stock screeners help narrow down your stock options by filtering stocks according to your investment objectives. Whether you are looking for stocks with a low-level P/E ratio or those that are undervalued, a good screener will help you find your options faster.

It Can Prevent Emotional Decisions

A mistake that many investors make when playing the stock market is that they make decisions based on emotion rather than being driven by objective research. Emotionally based decisions are often illogical and can have a negative impact on your returns. Tools such as WallStreetZen’s stock screener eliminate investor biases that fuel bad decisions and filter stocks based on sound parameters.

Helps You Discover New Investment Opportunities

Even the most passionate investors can’t possibly know everything about stocks. This is because the market is extensive, and there are always new developments occurring, which can be challenging to keep track of. By trawling an extensive database of stocks to find those that meet an investor’s specific criteria, a good stock screener will draw your attention to new stocks that you may not have known about before. It may present the opportunity to invest in unpopular stocks with investment potential that may have been overlooked.

Getting acquainted with the stock market isn’t easy. Not even the most experienced trader can always stay ahead of market trends. However, using tools such as stock screeners to your advantage will undoubtedly serve to make the whole process much more efficient. Spend some time finding yourself a reputable stock screener and learn to use it effectively to reap financial rewards on the stock market.

Business

How Can Cloud ERP Solutions Help Manufacturing Businesses?

ByCFI.co Blogger

The manufacturing industry is super dynamic and highly competitive. There is continuous stress on manufacturers to adopt newer ways of conducting their business.

To run a successful manufacturing business, owners must focus on achieving multiple parameters such as,

Proper forecasting of customer needs
Right control over inventory
Efficient management of sales leads
Zero wastage
Optimised ROI

A cloud ERP solution like https://www.netsuite.com.au/portal/au/products/erp.shtml can handle manufacturing concerns efficiently. It can also aid in achieving the success parameters more effortlessly. Read on to find out how implementing a cloud ERP system can help your manufacturing business.

Enhanced Inventory Control

The ERP solution streamlines your supply chain and ensures customer demand is always met promptly. By using the supply chain management module, manufacturers can build optimised logistics strategies. With access to real-time data, there is greater accuracy in forecasting and lower inventory costs.

Improved Decision Making

The ERP solution represents a centralised view of all business operations. The central hub offers essential information about sales, customers, finances, labour management, etc. Stakeholders can make use of the data on a real-time basis to make an accurate decision. An ERP solution is the key to making perfect forecasting and budget plans.

Better Quality Management

Quality control is a critical aspect of any manufacturing process. The cloud ERP solution includes in-built features adhering to optimal quality standards. It improves process and product quality by maintaining related documents in the centralised hub. The documents include standards about manufacturing processes, audits, safety management, and employee training and management.

Better Data Storage

ERP systems eliminate the need for error-prone, redundant manual processes. With a sound ERP solution, your data is cleaned and processed efficiently. The data is then stored using the highest levels of security and privacy parameters.

Manufacturers can access the data from any location, using any device. The access controls are well-defined to ensure the optimal safety of data.

Optimised Customer Relationship Management

Manufacturing companies must stay connected to customers consistently and understand their impulses. The CRM module (customer relationship management) of the ERP solution ensures optimised customer satisfaction.

CRM improves customer response time. It helps the sales team to track and follow up with leads easily. It captures customer interactions from multiple sources and ensures that the customer is presented with the right product at the right time.

Better Supplier Collaboration

The ERP system takes care of your supplier relationships too. With an enhanced internal communication system, your team is well-prepared to handle suppliers from any part of the world. ERP reduces response time, helps track down issues promptly, and aids in resolving the problems with proper damage control.

Enhanced Revenue and Better Cost Control

An ERP solution can improve business revenue and help with cost reduction in multiple ways. Some of them are,

Automation of tasks leads to lowered labour costs.
Unlocking newer revenue streams by helping the business go digital.
Optimised inventory management that cuts down operating and administrative costs.
Better control over the quality of products makes business growth inevitable.

Cloud ERP System versus In-House Deployment

Some manufacturers believe that an in-house ERP system offers better control over their data and operations. This is, however, not true, and the cloud ERP solution is always the winner. Here are some of the critical benefits of a cloud system.

Automatic upgrades
Access to real-time data from any place and any device
Lowered costs
Saves more time
A cloud-based solution is easily scalable
Shorter deployment times

However, you cannot achieve the multiple benefits of an ERP system for manufacturing companies by simply deploying any software solution.

A trusted solution ensures 100% profitability and business growth. Explore the critical modules of ERP solutions and find out the different ways it can help your business grow.