Monthly Archives: June 2015

The Top 5 Countries for Outsourcing Business

Posted on June 26, 2015

Read this informative blog post to find out which country you must outsource your business to.

Usually there is a lot of research and analysis that goes in before outsourcing. For instance, a company might consider a particular outsourcing location because they have a good people score (measured by educational skills, language diversity, and the size of their information technology industry). At times, the political/economic environment of an outsourcing location will be considered.

Is the political environment under control? How good is the country’s infrastructure? Is the cost of labor low? Does the country have a growth potential? Is the country financially attractive? These are some considerations that can help you evaluate if a particular country can efficiently manage the business you outsource to them.

Here is a list of the top five countries best suited for outsourcing business.

No 1: India

India, tops the chart as the most popular choice for outsourcing. In fact, hearing an Indian accent is quite normal, when you attempt to activate your new Smartphone. Companies, both far and near are continuing to reach out to India because the country has an ample availability of efficient, intelligent and extremely hard-working individuals. The only drawback is the country’s political environment and large population, which can sometimes create an unstable environment.

No 2: China

China, the second largest outsourcing service provider is still making its way in the world’s economy as it joined the global business only 21 years ago. Today, China has over 1.3 billion consumers in their market and is one of the most popular locations for manufacturers and retailers. China is one of the key players in the global outsourcing industry and plans on stealing a huge segment of India’s outsourcing revenue in the near future.

No 3: Malaysia

Today Malaysia is one of the world’s top three global leaders, with its net value being close to $1.9 billion dollars in 2014. Malaysia is a key contender for IT consulting, Systems Integration and Business Process Outsourcing. When compared with India and China, Malaysia has low people skills, which has lowered its outsourcing attractiveness. Continue reading

What is 3D Printing?

Posted on June 23, 2015

Read this informative blog post to find out about the benefits of 3D printing, its limitations and the upcoming 3D printing trends in the future.

3D printing refers to an additive material deposition process that is used to develop solid objects (3D) from a digital design file. Before an object can be used for 3D printing, a virtual design of the object has to be created by using the CAD software. Next, a digital file is developed from the CAD design and used for 3D printing. Selective Laser Sintering (SLS), Fused Deposition Modeling and Stereolithography are the three most popular methods of 3D printing

Benefits of 3D printing

  • 3D printing is excellent for rapid prototyping
  • 3D printing is more cost-effective that the traditionally manufactured parts in terms of the cost and time required to produce parts
  • 3D printing can produce objects from a different range of materials
  • With 3D printing, wastage of material can be avoided. The complications associated with machining, filing, grinding and milling can also be eliminated
  • Since 3D printing is suited for rapid prototyping, it leads to a short product development cycle and faster time to market

Types of 3D printing

Today 3D printing is growing at a fast pace, the two major types being industrial printing and personal printing

  • Industrial 3D printing: Concept cards, shoes, parts for fighter jets, prosthetics, jewellery, statues, dental crowns and bridges to name a few
  • Personal 3D printing: Musical instruments, medical models, model replicas, fabrics, guns, coffee cups, phone cases, toys and handbags amongst others

Continue reading

7 Steps to Selecting An Ideal Data Entry Service Provider

7 Steps to Selecting An Ideal Data Entry Service Provider

Posted on June 13, 2015

Looking for a data entry service provider from India? Find out how you can find an ideal data entry service provider by using these seven steps.

If you have thought about outsourcing data entry, then without doubt, India would have come to your mind. India is indeed the ideal outsourcing destination for data entry, with both large and small businesses benefitting from the country’s special skills. If your organization wants to utilize in-house resources for your core business, save on cost and channel more time into business growth, then outsourcing data entry is definitely for you.

Now that you have decided to outsource, the next step is to carefully select a data entry service provider. Avoid going by only the cost factor and make your decision on other factors as well. Here are some pointers on how to select the best data entry service provider in India and enjoy a high ROI:

Step 1: Clearly define your needs

It is very important that you identify and define your data entry requirements, which can be on a one-time or ongoing basis. For most businesses, data entry is an ongoing task, although the parameters of the data entry could change as a business grows and expands into new areas.

Step 2: Ask for a quote

If you are looking for low cost services that can reduce your overheads and minimize your operational costs, then you will need to find a service provider that offers quality services at a reasonable cost. Before you finalize on a service provider, you can request for a quote and then compare the quotes and find a service provider that best suits your needs.

Step 3: Look for quality

Finalize on a service provider who will offer you guarantee on the accuracy the data entry. Check if the service provider has an in-house quality assurance process that will catch data entry errors and correct them. For absolute accuracy, there should be quality checking process that is used at every step of the process.

Step 4: Tap into the skills of experts

It is critical that you choose a data entry provider who has skilled and experienced professionals who can carry out error-free data entry. Working with a team of experienced workers will not only ensure high quality work, but also keep your mind at rest, knowing that your data entry is being handled by experts. Make sure that you check if the service provider follows a stringent recruitment process, with adequate training. Continue reading

6 Tips For Error-Free Bank Reconciliation in QuickBooks

Posted on June 8, 2015

Have you tried reconciling your bank transactions in QuickBooks and faced errors or setbacks? If yes, then do read these useful tips on how to avoid errors while reconciling your bank accounts. 

Bank reconciliation is the process performed by an enterprise to ensure that the company’s bank and financial records such as, balance sheet, check register and general ledger account are accurate and up-to-date. Bank reconciliation is often time consuming and tedious. It can also get complicated when there are multiple banks to be reconciled. This is where outsourcing can help.

By outsourcing bank reconciliation services, you can not only accelerate the process of bank reconciliation, but also ensure better accuracy. Outsourcing bank reconciliation is also a great way to obtain a consistent data source, reduce cost, increase ROI and leverage the superior quality that only comes with offshoring.

Have you tried reconciling your bank transactions in QuickBooks and faced errors or setbacks? If yes, then do try these useful tips the next time you use QuickBooks to reconcile your bank accounts.

1. Ensure that you are working with the right bank account: If you own several bank accounts, it important to make sure that you are using the right accounts before attempting any bank reconciliations. This way, you will not end up making deposits or recording checks in the wrong accounts.

2. Look out for transposed numbers: The most common mistake while making bank reconciliations is to switch a number. For example, you could enter 45 instead of 54. However, transposition mistakes can be divisible by nine. But there should be no other error in the bank reconciliation. Continue reading

How To Create A Winning Marketing Strategy?

Posted on June 1, 2015

Use these five steps to create a winning marketing strategy that is sure to boost your ROI!

Do you want to come up with a successful marketing strategy? If yes, then you should develop a marketing strategy alongside your business plan. This way you can be absolutely sure that your marketing is going to give you the desired results.

Following a structured process for marketing can help you tap into all the creativity required to develop a great marketing plan, while making sure that your strategy is directed towards getting the results that your business needs.

Here are 5 steps that you can use to help you get started with a winning marketing strategy.

1. What is it that your business does, that others don’t? (USP)

This is the starting point for any marketing strategy. Getting to the core of what you do will be the heart of your marketing plan. Sit down with your team and describe your USP. This can reveal how your business is unique and different from other companies that offer the same products/services.

2. Who is your target market?

Clearly defining your target market is a key factor in the marketing activities that will later flow from your strategy. An undefined target market will lead to muddled up/ poorly targeted messages which use the wrong marketing methods. Defining your target market on a regular basis will ensure that your marketing choices are on track.

3. What are the benefits of your products/services?

Though stating the benefits of a product/service comes easily to many businesses, it can be executed poorly. You must remember to write down the benefits of your products/services from the point of view of your prospective customers. By defining the benefits of products/services from the point of view of your target market, you can obtain a huge advantage when you execute your marketing. Continue reading