#and reduced inventory. Increasing sales can be done through marketing and sales initiatives

[eosnox]

The Top Benefits of Crypto Investment

[restaurantesenacapulco-blog]

Restaurants Kinds and Characteristics

Broadly speaking, restaurants can be segmented into a number of categories: 1-  Chain or independent (indy) and franchise restaurants. McDonald's, Union Square Cafe, or KFC 2-  Quick service (QSR), sandwich. Burger, chicken, and so on; convenience store, noodle, pizza 3-  Fast casual. Panera Bread, Atlanta Bread Company, Au Bon Pain, and so on 4-  Family. Bob Evans, Perkins, Friendly's, Steak 'n Shake, Waffle House 5-  Casual. Applebee's, Hard Rock Caf´e, Chili's, TGI Friday's 6-  Fine dining. Charlie Trotter's, Morton's The Steakhouse, Flemming's, The Palm, Four Seasons 7-  Other. Steakhouses, seafood, ethnic, dinner houses, celebrity, and so on. Of course, some restaurants fall into more than one category. For example, an Italian restaurant could be casual and ethnic. Leading restaurant concepts in terms of sales have been tracked for years by the magazine Restaurants and Institutions.

CHAIN OR INDEPENDENT The impression that a few huge quick-service chains completely dominate the restaurant business is misleading. Chain restaurants have some advantages and some disadvantages over independent restaurants. The advantages include:

1-  Recognition in the marketplace 2-  Greater advertising clout 3-  Sophisticated systems development 4-  Discounted purchasing

When franchising, various kinds of assistance are available. Independent restaurants are relatively easy to open. All you need is a few thousand dollars, a knowledge of restaurant operations, and a strong desire to succeed. The advantage for independent restaurateurs is that they can ''do their own thing'' in terms of concept development, menus, decor, and so on. Unless our habits and taste change drastically, there is plenty of room for independent restaurants in certain locations. Restaurants come and go. Some independent restaurants will grow into small chains, and larger companies will buy out small chains. Get More Info RESTAURANTES EN ACAPULCO

Once small chains display growth and popularity, they are likely to be bought out by a larger company or will be able to acquire financing for expansion. A temptation for the beginning restaurateur is to observe large restaurants in big cities and to believe that their success can be duplicated in secondary cities. Reading the restaurant reviews in New York City, Las Vegas, Los Angeles, Chicago, Washington, D.C., or San Francisco may give the impression that unusual restaurants can be replicated in Des Moines, Kansas City, or Main Town, USA. Because of demographics, these high-style or ethnic restaurants will not click in small cities and towns.

5-  Will go for training from the bottom up and cover all areas of the restaurant's operation Franchising involves the least financial risk in that the restaurant format, including building design, menu, and marketing plans, already have been tested in the marketplace. Franchise restaurants are less likely to go belly up than independent restaurants. The reason is that the concept is proven and the operating procedures are established with all (or most) of the kinks worked out. Training is provided, and marketing and management support are available. The increased likelihood of success does not come cheap, however.

There is a franchising fee, a royalty fee, advertising royalty, and requirements of substantial personal net worth. For those lacking substantial restaurant experience, franchising may be a way to get into the restaurant business-providing they are prepared to start at the bottom and take a crash training course. Restaurant franchisees are entrepreneurs who prefer to own, operate, develop, and extend an existing business concept through a form of contractual business arrangement called franchising.1 Several franchises have ended up with multiple stores and made the big time. Naturally, most aspiring restaurateurs want to do their own thing-they have a concept in mind and can't wait to go for it.

Here are samples of the costs involved in franchising:

1-  A Miami Subs traditional restaurant has a $30,000 fee, a royalty of 4.5 percent, and requires at least five years' experience as a multi-unit operator, a personal/business equity of $1 million, and a personal/business net worth of $5 million.

2-  Chili's requires a monthly fee based on the restaurant's sales performance (currently a service fee of 4 percent of monthly sales) plus the greater of (a) monthly base rent or (b) percentage rent that is at least 8.5 percent of monthly sales.

3-  McDonald's requires $200,000 of nonborrowed personal resources and an initial fee of $45,000, plus a monthly service fee based on the restaurant's sales performance (about 4 percent) and rent, which is a monthly base rent or a percentage of monthly sales. Equipment and preopening costs range from $461,000 to $788,500.

4-  Pizza Factory Express Units (200 to 999 square feet) require a $5,000 franchise fee, a royalty of 5 percent, and an advertising fee of 2 percent. Equipment costs range from $25,000 to $90,000, with miscellaneous costs of $3,200 to $9,000 and opening inventory of $6,000.

5-  Earl of Sandwich has options for one unit with a net worth requirement of $750,000 and liquidity of $300,000; for 5 units, a net worth of $1 million and liquidity of $500,000 is required; for 10 units, net worth of $2 million and liquidity of $800,000. The franchise fee is $25,000 per location, and the royalty is 6 percent.

What do you get for all this money? Franchisors will provide:

1-  Help with site selection and a review of any proposed sites 2-  Assistance with the design and building preparation 3-  Help with preparation for opening 4-  Training of managers and staff 5-  Planning and implementation of pre-opening marketing strategies 6-  Unit visits and ongoing operating advice

There are hundreds of restaurant franchise concepts, and they are not without risks. The restaurant owned or leased by a franchisee may fail even though it is part of a well-known chain that is highly successful. Franchisers also fail. A case in point is the highly touted Boston Market, which was based in Golden, Colorado. In 1993, when the company's stock was first offered to the public at $20 per share, it was eagerly bought, increasing the price to a high of $50 a share. In 1999, after the company declared bankruptcy, the share price sank to 75 cents. The contents of many of its stores were auctioned off at a fraction of their cost.7 Fortunes were made and lost. One group that did not lose was the investment bankers who put together and sold the stock offering and received a sizable fee for services.

The offering group also did well; they were able to sell their shares while the stocks were high. Quick-service food chains as well-known as Hardee's and Carl's Jr. have also gone through periods of red ink. Both companies, now under one owner called CKE, experienced periods as long as four years when real earnings, as a company, were negative. (Individual stores, company owned or franchised, however, may have done well during the down periods.) There is no assurance that a franchised chain will prosper.

At one time in the mid-1970s, A&W Restaurants, Inc., of Farmington Hills, Michigan, had 2,400 units. In 1995, the chain numbered a few more than 600. After a buyout that year, the chain expanded by 400 stores. Some of the expansions took place in nontraditional locations, such as kiosks, truck stops, colleges, and convenience stores, where the full-service restaurant experience is not important. A restaurant concept may do well in one region but not in another. The style of operation may be highly compatible with the personality of one operator and not another.

Most franchised operations call for a lot of hard work and long hours, which many people perceive as drudgery. If the franchisee lacks sufficient capital and leases a building or land, there is the risk of paying more for the lease than the business can support. Relations between franchisers and the franchisees are often strained, even in the largest companies. The goals of each usually differ; franchisers want maximum fees, while franchisees want maximum support in marketing and franchised service such as employee training. At times, franchise chains get involved in litigation with their franchisees.

As franchise companies have set up hundreds of franchises across America, some regions are saturated: More franchised units were built than the area can support. Current franchise holders complain that adding more franchises serves only to reduce sales of existing stores. Pizza Hut, for example, stopped selling franchises except to well-heeled buyers who can take on a number of units. Overseas markets constitute a large source of the income of several quick-service chains. As might be expected, McDonald's has been the leader in overseas expansions, with units in 119 countries.

With its roughly 30,000 restaurants serving some 50 million customers daily, about half of the company's profits come from outside the United States. A number of other quick-service chains also have large numbers of franchised units abroad.While the beginning restaurateur quite rightly concentrates on being successful here and now, many bright, ambitious, and energetic restaurateurs think of future possibilities abroad. Once a concept is established, the entrepreneur may sell out to a franchiser or, with a lot of guidance, take the format overseas via the franchise. (It is folly to build or buy in a foreign country without a partner who is financially secure and well versed in the local laws and culture.).

The McDonald's success story in the United States and abroad illustrates the importance of adaptability to local conditions. The company opens units in unlikely locations and closes those that do not do well. Abroad, menus are tailored to fit local customs. In the Indonesia crisis, for example, french fries that had to be imported were taken off the menu, and rice was substituted. Reading the life stories of big franchise winners may suggest that once a franchise is well established, the way is clear sailing. Thomas Monaghan, founder of Domino Pizza, tells a different story. At one time, the chain had accumulated a debt of $500 million. Monaghan, a devout Catholic, said that he changed his life by renouncing his greatest sin, pride, and rededicating his life to ''God, family, and pizza.''

A meeting with Pope John Paul II had changed his life and his feeling about good and evil as ''personal and abiding.'' Fortunately, in Mr. Monaghan's case, the rededication worked well. There are 7,096 Domino Pizza outlets worldwide, with sales of about $3.78 billion a year. Monaghan sold most of his interest in the company for a reported $1 billion and announced that he would use his fortune to further Catholic church causes. In the recent past, most food-service millionaires have been franchisers, yet a large number of would-be restaurateurs, especially those enrolled in university degree courses in hotel and restaurant management, are not very excited about being a quick-service franchisee.

They prefer owning or managing a full-service restaurant. Prospective franchisees should review their food experience and their access to money and decide which franchise would be appropriate for them. If they have little or no food experience, they can consider starting their restaurant career with a less expensive franchise, one that provides start-up training. For those with some experience who want a proven concept, the Friendly's chain, which began franchising in 1999, may be a good choice. The chain has more than 700 units. The restaurants are considered family dining and feature ice cream specialties, sandwiches, soups, and quickservice meals.

Let's emphasize this point again: Work in a restaurant you enjoy and perhaps would like to emulate in your own restaurant. If you have enough experience and money, you can strike out on your own. Better yet, work in a successful restaurant where a partnership or proprietorship might be possible or where the owner is thinking about retiring and, for tax or other reasons, may be willing to take payments over time. Franchisees are, in effect, entrepreneurs, many of whom create chains within chains.

McDonald's had the highest system-wide sales of a quick-service chain, followed by Burger King. Wendy's, Taco Bell, Pizza Hut, and KFC came next. Subway, as one among hundreds of franchisers, gained total sales of $3.9 billion. There is no doubt that 10 years from now, a listing of the companies with the highest sales will be different. Some of the current leaders will experience sales declines, and some will merge with or be bought out by other companies-some of which may be financial giants not previously engaged in the restaurant business.

[landauctionsgeorgia4-blog]

Hiring An Auction Company

Construction equipment auctions georgia

Estimating your assets worth:

Typically, among the first questions that a business operator will ask me is,"how much does the assets attract at an auction". After taking the time to reassess the resources, the auctioneer should provide the customer a conservative estimate of the deal based upon his experience and the current market trends. It is necessary that the company give sensible expectations so that the seller will make informed decisions based on their very best interest.

farm equipment auctions Georgia

Is the company you are considering working for you or against you? The arrangement you decide may ascertain this.

A business owner should carefully consider the way the auction company is compensated. The most usual commission structures include: straight commission, outright purchase of assets, guaranteed base using a split above to auctioneer and seller, ensured foundation with anything above moving to auctioneer or a flat fee structure.

At a straight commission structure, the business is paid an agreed upon percentage of the entire sale.

In an outright purchase arrangement, the auctioneer simply becomes your conclusion purchaser. The organization purchases your resources and relocates them. While this can be an alternative in some exceptional circumstances, remember that they will want to purchase your assets at a extremely reduced price to create a profit at a later date.

In a minimum foundation guarantee, the auction company guarantees the seller which the auction will generate a minimum amount of earnings. Anything above that amount either goes into the auction company or split with the vendor. Even though a seller might feel more comfortable doing an auction understanding that he's guaranteed a minimum amount for his sale, keep in mind it is the best interest of the auction company to secure a minimal base price as low as you can in order reduce their fiscal liability to the vendor and secure increased reimbursement for the sale.

At a flat fee arrangement, the auctioneer agrees to appear for the sale and call the auction. There's no incentive for the auctioneer to get the lowest prices for your assets. The auction company is paid whatever the outcome of your sale.

What's the best alternative for business owners? In my experience, an agreed upon straight commission structure. This puts the responsibility on the auction company to offer the best outcome for everyone involved. There is an incentive to get the auction business to work hard for both parties, setup and operate a specialist sale, get the highest bid and sell each item on the inventory. Successful auctions interpret to a higher base line for both the seller and the auction company.

Auction Expenses:

In most auction arrangements the expenses to run an auction are passed to the seller. In the event the auction provider pays for the expenses, it is simply absorbed in higher commission prices.

All expenses should be agreed upon in advance in a written contract. Normal costs include the expenses of advertising, labor, legal fees, travel, gear rentals, protection, printing and postage. A respectable auction company will be able to estimate all costs based upon their own experience in prior auctions. An agreement should be real costs charged as expenses, not an estimated sum.

Advertising is typically the highest price in running an auction. The auction provider should set up an advertising campaign that will encourage the sale to the best advantage, not overspend to simply advertise the auction business.

Once the auction is done, the auction company should offer a comprehensive breakdown of all expenses to the vendor, such as copies of receipts inside the auction summary report.

What's a buyer's premium? In the event you attend auctions frequently, you're extremely familiar with this term. The auction company charges a fee to the purchaser when they buy an item on the market.

The buyer's premium has existed since the 1980's and is regular auction clinic. It was initially used by auction houses to help offset costs of conducting mortar and brick permanent auction centers. Since that time, it has spread to all aspects of the auction industry. It's prominent in online auctions and enables auction companies to cover additional expenses incurred from online sales.

It's the responsibility of the auction business to provide clear disclosure of the buyer's premium to both buyers and the vendors. Those not familiar with stocks are often taken back by the buyer's premium. They looked upon it as a beneath given manner for the auction company to earn more money. Reputable auction companies provide whole disclosure within the market contract, advertising and bidder registration.

Usually, an auction company will charge online buyers a greater buyer's premium percent compared to those attending an auction in person. Extra prices are incurred with online bidding and are charged accordingly to buyers. This gives the seller a level playing field for both internet buyers and people attending the auction in person. Without the buyer's premium, there's no means to get this done.

Pre-Sales:

We have all been there. We are looking forward to attending an auction only to discover that some products were sold before the auction date.

As an auctioneer with over thirty-six years of expertise, I can honestly state that pre-sales will hurt an auction. When a business makes the decision to liquidate their resources, it's simple to market off high-end parts of gear through online resources, gear vendors or to other businesses. The seller receives immediate cash and avoids paying a commission to an auction business.

Auctioneer's find themselves emerging to behaving in a self-serving capacity when prospective clients say they are planning to sell off portions of the stock prior to an auction. It is hard not to consider the auctioneer's commission if they warn you to not pre-sell anything. Yes, the auctioneer would like to make a commission on these sales . however, it's more important that the auctioneer take care of the purchase from potential negative backlash that comes from pre-selling. The purchasing public knows when an auction has been"cherry picked" prior to the sale and it reflects in their bidding. It becomes a sale of"leftovers" which affects prices.

A purchaser who purchases prior to the auction ordinarily doesn't attend the sale. They already bought gear at a fantastic price with no contest. If they do attend the auction, then they tend to let others know of their great pre-sale purchases which again, affects prices and the general excitement of the purchase.

It is necessary to understand that auctions work best with a complete stock. You need competition on your higher end equipment. The easy to sell items make it feasible to gain respectable rates for hard to sell items.

When a company owner decides to liquidate their gear assets, there's only one chance to do it correctly. Hiring a respectable auction company will assist you with a professional, systematic and timely liquidation.

[jimmymehr]

Hiring a Zoho CRM certified consultant: The one-step solution to flourish your business

In the development epoch, customers' relationship or the link with businessman or company play a pivotal role. The entire superstructure of the business depends on how well they maintain the relationship with customers. Customer relationship management (CRM) is a general way to manage, maintain and analyze existing customers and future customers and retain them to drive the growth of the organization.

Every business relies on its customer for development and profits. Customers or clients play a significant role in making the company a profitable one by consuming its products and services. Therefore, it is essential for businesses to impact their purchasing decision favorably. The strategy of the company should be such that it retains the existing customers while attracting new customers. Whether a consumer will rely on business shall also depend on the quality of the products and services, and how its employees behave with them.  

A large part of the customer relationship management or CRM is determining a metric for success. A Zoho CRM certified consultant provides experienced and qualified partners who help in resolving all critical issues; it’s a one-step solution to success. They aim to optimize and automate business processes that boost productivity. They also enhance the working of the business.

They provide business owners with useful advice and also give them access to shape the robust bond between buyers and sellers. They promote executive comfort, enables sales leadership, track companies sales activities to make necessary changes. They also optimize workflow by automating various processes.

Customer relationship management or CRM handles all the aspect such as sales, marketing, customer’s reviews, inventory management functions, customer support, etc. A CRM opens up incredible opportunities for small businesses and large enterprise alike to thrive.

Zoho CRM certified consultant program provides skilled and certified partners who ensure that the projects are managed professionally and effectively. Zoho's CRM compiles company’s information to contact with customers which include live chats, phone numbers, product, services, etc. It ensures smooth running operation and reduction in costs.

Also, Zoho CRM Deployment Service provides for advanced analytics integration, through this users can automatically manage several processes. The functionality of the CRM is based on the sales process of the individual company. High-level research, and analysis, proper engagement, needful development and integration, skillful project communication are the essential features of Zoho CRM Deployment Service. Thus this feature helps the employee of the company to take the next step towards the customer based on their data. It also suggests the next move.

A Zoho CRM certified consultant works on the aspects given below-

●       Improving customer retention is a significant role played by the company; the company also aims to help clients to satisfy customers demand also provides a better view of every aspect and help its client in maximizing profit and gaining revenue. It transforms the obsolete targets and views invent new ideas and present the company in a more systematic and presentable manner.

●       Information and prospects of the clients such as email number, business details are kept at one place. Detailed research is done by the consultant to ensure better advice regarding their business; the consultant does complete analysis on all the matters and prospect of the client so that nothing remains left out.

●       A Zoho CRM certified consultant goes through detailed analysis and create a report and ensures proper interaction to provide a required solution to the problem faced by clients; company creates solution design to address clients business, interface and performance requirements, advice on third party and customization. The company assists sales and pre-sales team to prepare proposals, participate in clients presentation and support business development and sales of professional services whenever necessary.

●       A Zoho CRM certified consultant is friendly, helpful and manages tasks efficiently, execute important tasks, minimizes turnaround times, etc. It takes keen interests in all the aspects that are required to be handled and initiates plans or goals for the company as well.

●       In modern era competition is increasing massively and thus the company provides consultants that deals best with the situation and come up with various strategies and idea that helps business to maximize their profits. Coming up with extraordinary schemes and goals allows clients to provide a better option to the customers.

●       Turns raw data into stories that resonate, leverage standardized tools, reduces lost leads, and focuses on a particular approach that could save money and time.

Hence, it will guide clients through pitfalls, complement your in-house team and manage them entire project as well.

Now let’s discuss how to choose the suitable certified consultant for a company as there are many providers. Following steps must ensure the right choice of consultant:

●       The company should pen down the requirements that the consultant should fulfill and also search for such a partner that suits their requirement without any compromise. A clear opinion should be taken from the investors to ensure complete satisfaction regarding the consultant. The business companies should always do detailed research before coming to any conclusion.

●       Search for companies that provide certified consultants which match the company’s requirements. And also grab an understanding of the working and scope of the consultant, get in touch with various companies providing certified consultant compare and contrast and then draw necessary conclusion.

●       Provide the consultant with required details, cope with the strategies and plan provided by and try to get the broad view provided by the consultant. Also, adjust with the advice of the consultant as he works for the betterment of the business.

●       If the Company is unsure about the services, then they can ask for a demo to the consultant to have a clear picture of the work. Besides, it will give a better view of the services provided by them, and a test drive is always important and necessary.

Thus, every competent business person wishes to have a

Zoho CRM Certified Consultant

for better handling of business and also to see their business grow exponentially. But most importantly it lessens the wedged gap between the buyer and the seller and also tackles the sales productivity that would bring revenue and profit. Also, by availing Zoho CRM Deployment Service a company can scale new heights.

[farooqshahzad]

Business Turnaround Tips

Businesses, like markets, can be volatile. A sound business plan that helped a company grow and achieve record revenues in the past might not be as successful several years down the line as it was originally, due either to changing economic conditions or increased competition, among other factors. While it can be stressful leading a business through a period of poor performance, it also presents an opportunity to pause and thoroughly evaluate the business and determine what needs to be done to execute a turnaround. Whether already leading or purchasing a struggling business, the first step to a successful turnaround is to identify any issues or problems. Start by performing comprehensive research on the business and the industry in which it operates. This might involve examining financials and speaking with industry leaders, corporate partners, and consumers. The most common business challenges or inefficiencies are found in management, products and services, marketing, and system processes. Once the problems have been identified, executives can work on creating an effective business turnaround plan with an emphasis on sales and marketing, as well as operational adjustments. This is not only invaluable to help the management team and staff execute the turnaround but can also provide investors and creditors with confidence that the business can improve its bottom line. Be sure to meet with creditors and see if there's a plan that can be arranged to alleviate pressure on the business while ensuring they receive a positive return on their investment. Involving managers and team members is also important to promote a sense of shared responsibility and ownership in seeing the business succeed. Executives can hold brainstorming sessions with employees to gain input from those involved in the day-to-day operation of the business. This is especially crucial for those purchasing a struggling business with the intent to initiate a turnaround. The next steps should be to stabilize the business and restore profitability. This means enforcing strict cash controls and perhaps even reducing assets to improve inventory management and increase cash generation. Data analysis is key to optimizing strategies designed to boost sales and increase profits. Regularly examine sales and cost figures to identify inefficient sales areas and develop plans to either eradicate those ventures or improve performance. At this point, executives should look for innovative ways to boost sales without having to increase the marketing budget. This can be done by raising prices, converting more leads with interested customers, and improving customer service. Executives should be transparent with employees about the business' health and viability during the turnaround. Acknowledging hard work and celebrating individual or team successes can cultivate a workplace environment in which all employees feel valued. It's important to note, however, that some employees may have to be let go in certain situations to execute a successful turnaround. Executives should be aware of which employees are vital to the success of the business and keep them on staff if possible. Don't bother trying to minimize employee loss with sporadic cuts. Instead, make as many cuts as necessary to get the business back on track and be transparent with employees. It's not a good business practice to have employees constantly in fear of losing their jobs. via Blogger http://farooqshahzadwi.blogspot.com/2022/06/business-turnaround-tips.html

[nathan345]

Amadeus GDS System

Aamdeus GDS is an online platform known as the global distribution system that bridges the gap between tour operators and travel bookers worldwide by offering centralized services, including airline ticket bookings, car rental, hotel rooms, and more. These solutions allow travel agents such as airlines, cars, hotels, travel agencies, and tour operators to operate and enhance the travel experience of its individuals.

Amadeus GDS System is a computerized web service that provides pricing, real-time availability, comprehensive data display, and reservation features to the global travel industry in a highly unified manner. If a travel company wants to remain competitive, it becomes very essential to align a powerful global distribution system with the Amadeus GDS system.

No alternative can be better than this. Amadeus GDS is one of the most preferred GDS systems for travel agents and companies providing deals and commissions on airlines, hotels, transfers, and sightseeing. Amadeus GDS performs the highest number of transactions every day.

The incorporation of Amadeus GDS web services will definitely take the travel agency to a new level, as it can access the vast array of travel content governed by Amadeus GDS.

BookingXML provides Amadeus GDS System with a full travel management system with all the key competencies, advantages, and variety in aggregating the travel contents. We provide consultation and development on all aspects of B2B & B2C Amadeus GDS/Amadeus XML/Amadeus API Integration.

Using the BookingXML Internet Booking Engine platform, the integration of Amadeus GDS XML API web services can be done directly to your website, enabling you to maintain your site's identity and initial concept and branding.

Why Travel Agents/Tour Operators and Travel Management Companies should use the Amadeus GDS System?      

Amadeus is one of the leading GDS providers, developing and transforming the travel industry with its travel marketplace. Amadeus GDS system is used by thousands of travel suppliers and customers to facilitate market planning, sales, business operations, and more.

Amadeus GDS system retains its position as a global leader in the travel and tourism sector by repeatedly innovating technologies such as e-power suites, web services, APIs, and other value-added services. Amadeus Global Distribution Systems are primarily responsible for the growth of the travel industry and the pace of most internet-based travel services.

It delivers worldwide data, prices, inventory, deals, and real-time availability of airlines, hotel rooms, car rental, bus tickets, and much more to make the travel industry more informatics and sophisticated.

Amadeus GDS System allows travel companies, agents, and their customers to access travel data by comparing prices, booking choices, access schedules, and inventories (hotels, airlines, car rentals, holidays, bus fares, holiday packages) and allowing customers to book tickets online.

Key Benefits of Amadeus GDS Integration:  

Fast integration and maintenance work

Instant access to the richest and most important content for travel

Optimized business processes, procedures and business intelligence and reporting, and payments

Travel management solutions that are appropriate and optimized to reduce costs and generate more revenue

Opportunities for exploring new revenue opportunities, cross-selling, and integration with other vendors

GDS is highly successful in attracting international travelers. This is why the use of Amadeus GDS among travel agents is rising exponentially every year

OTAs have significantly enhanced customer travel shopping experience and convenience and higher price transparency

Amadeus GDSs allow travel agents to make their travel services available to customers worldwide where they would otherwise not be able to achieve successful global market  

Penetration through direct marketing efforts

Booking via Amadeus Global Distribution System is ideally suited for corporate travel agents as an appropriate process for booking holidays, air, hotels, and rental cars

Travel agents can have a global platform for their business with a strong market penetration

Amadeus Global Distribution System is the basis for corporate clients worldwide

The use of the Global Distribution System indicates an increase across corporate and leisure travelers

The unique selling point of GDS is that it can provide the guests with the best prices which no other system can offer. Your guests can find packages that include hotel, air travel, and car rental

To know more about us

Please visit our website: https://bookingxml.com/

[digitalagriculturefarmsio]

The Importance of Food Traceability in the Agro Industry

Food Traceability is the ability to trace and follow the food produced or processing that passed through all stages of production and distribution through the value chain. So is also called the ability to trace the history of various farm inputs applied to produce the product or the process it underwent during the production, packing, or supply chain. 

“It is known that Food Traceability involves Identifying the origin of the food, ingredients applied and food source.”

The essential role of Food Traceability

 The role of food traceability is to maintain food safety. Traceability requires food producers to have sound, integrated systems in place to ensure effective controls, both in day-to-day operations but also in the case of a contamination or other safety issue.

Food Traceability

Food Trackability

 Traceability – Traceability consists of two distinct components: tracking and tracing. Tracing creates a history of a product’s navigation throughout the entire food chain. Whether for a single unit or a batch, the tracing history provides information about the product’s origin and its movements forward.

 Trackability – While tracking is the ability to pinpoint the destination of a particular product, following its path through the food chain from the point of manufacturing to the final point of sale or point of consumption. 

In comparison, tracing looks backward to a product’s origin while tracking looks forward to its destination.

Top 10 Roles of Food Traceability in The Agro Industry:

1. Food Safety incidents

2. Food Residue Surveillance

3. Risk assessment from food exposure

4. Enforcement of labeling claims

5. Control Grading Fraudality 

6. Reduce Food Wastage

7. Ensure Food Hygiene

8. Farmer Empowerment

9. Export Enhancement

10. Customer Trust

 Role of Food Traceability in Agro Industry:

Food traceability plays a crucial role in ensuring self and public health safety. Unsafe foods can contain harmful pathogens that can transmit contagious diseases and cause serious illness to the consumer.

Food Safety refers to the handling, processing, or storing of foods in the best possible way to reduce the risk of people falling sick because of unhygienic or unhealthy practices. There are various food certifying companies available to certify the authenticity of the food product. 

Food safety issues generally relate to pathogens, residues of veterinary drugs, pesticide residues, toxins, dioxin, residues of cleaning chemicals, use of unauthorized food additives, simple adulterants, heavy metals, etc.

In addition, food safety issues can also be an outcome of filthy or unsanitary conditions, allergens, and unregistered processes or manufacturers. 

For example, In corn cultivation – The transparency in food traceability helps the consumer or the importing countries to get to know about the hazardous nature of the Pesticide or fertilizer applied in excess to cultivate the crop or to mitigate the crop loss.

In case of the process and packed foods, the banned food preservatives or the hazardous chemicals used during the cold or dry storage or during transportation can be identified and avoided. 

With the increased global population, food residue surveillance helps to find and reduce the chemical and microbiological contaminants in the food produced. Food Traceability helps to regulate the use of harmful synthetic pesticides or antibiotics applied on the farm or animals to treat insects, weeds during pre and post-harvest. 

Note: For example: When it rains, the heavy metals in the pesticide that is used to treat the crop end up in the nearby pond or water bodies and contaminates the ecosystem.

Food Residue surveillance and pesticide monitoring regulatory programs regulate the presence of pesticide residues present in food. Approximates and adopts the use of climate resilience crops that can withstand the diseases and avoid the use of the pesticide or fertilizer application.

Hashtags for internal Reference Only:

/Food Residues Survey Programme (FRSP)

/Ministry for Primary Industries (MPI)

/maximum residue level (MRL)

/Federal Insecticide, Fungicide, and Rodenticide Act (FIFRA)

/EPA Environmental Protection Agency

/Pesticide Monitoring Program (PMP)

 The risk assessment of the food exposure includes hazard identification and risk characterization. Food Traceability helps to make decisions on whether the given food commodity is safe to consume or to be prevented from human consumption.

The exposure assessment is the process of estimating the magnitude, frequency, and duration of exposure to the substance.   

1: Identify the hazards.

2: Decide who might be harmed and how.

3: Evaluate the risks and decide on precautions.

4: Record your findings and implement them.

5: Review your risk assessment and update.

Speaking of labeling claims in the food labeling standard, many people may think of Nutrient Function Claims but in a broad sense, the purpose is to prevent misleading representations of various kinds of claims.

 such as;

Allergen Free

Zero Salt

Low Sugar

No Colorant

Zero Calorie

Organic/Natural 

No GMO Used

A Consumer should be able to make claims based on the product label specifications representation. As part of quality assurance, Food Labelling ensures the claims about food safety standards, quality of the content, and ingredient specification with the manufacturing data.   

Food fraud is the act of purposely altering, misrepresenting, mislabeling, substituting, or tampering with any food product at any point along with the farm–to–table food supply–chain.

Fraud can occur in the raw material, in an ingredient, in the final product or in the food’s packaging.

Fraudulent and intentional substitution, dilution or addition to a raw material or food product, or misrepresentation of the material or product for financial gain by increasing its apparent value or reducing its cost of production or to cause harm to others by malicious contamination, is ‘food fraud.’

Grading is done by assessing the number of characteristics of the food product to obtain the overall quality. This can be normally carried out by experts or trained operators, food inspectors, or through laboratories.

Grading is more expensive than sorting because this involves the high cost of skilled personnel requirements. 

While food waste is commonly a result of consumer behavior after purchase, food manufacturers and their trading partners can help ensure more edible food stays out of the garbage by implementing better traceability processes.

The supply chain processes based on GS1 Standards have served the grocery industry well to provide a solid operational foundation to facilitate less food waste.

Food manufacturers and their trading partners can ensure consumer confidence in the safety and freshness of their food without sacrificing product quality. Adopting standards-based traceability procedures will lead to more precise inventory planning and category management.  

Poor food hygiene is the major cause of human illness. Most hygiene problems are caused by faulty handling of food and, in the case of processed or packaged food, often occur after manufacture and packaging. 

Food traceability ensures the good health of consumers by the measures to control the hazards of chemical, the microbiological substances being added in the food. New metrics to control food hazards through Food traceability have been identified and implemented. 

In order to ensure food safety, the processing facilities must maintain essential principles such as microbiological, chemical, and physical safety within the production facilities, including the interior surfaces, equipment, instruments, and devices.

To monitor hygiene in the working environment, simple and rapid methods are needed in food-processing plants. Various detection methods including direct/indirect methods, culture-based methods, immunological methods, and nucleic acid-based methods for rapid monitoring are developed and evaluated.

FBDS Food-borne disease surveillance

FSMS Food safety management systems

GAP Good agricultural practices

GFSI Global Food Safety Initiative

ISO International Organization for Standardization

Food Sanitation Act

WHO World Health Organization

HACCP Hazard Analysis and Critical Control Point

Food traceability helps the farmer with the market linkage with the international buyers, as they can locate or retrace the source of the product produced. Farmers who are part of this value chain benefit from the higher market price. 

For example, the farmer who cultivates corn tags the harvest sacks with QR codes. Which gives information about the Corn variety, plantation date, farm inputs applied, date of the harvest, and packed dates. The Geo-Tagging of the corn sacks is done right from the Cultivated farmland till it reaches the processing facility and the retail unit for consumption.  

���In Food Traceability – The consumer can locate the farmer and the farm even before buying the produce”. 

Small and Medium farmers face obstacles in reaching the foreign market, which include lack of market information, lack of knowledge on export complexities and risks, policies, etc.  Export Enhancement programs are aimed to enhance the export potential of the rural and small farm holders to improve their economic well-being through cross-border trade facilitation.

1) Agro Commodity Demand Traceability analyzes the export assistance needs of small and medium rural and agricultural firms.

2) Identify export assistance and promotion services offered at the central and state levels to

meet the needs of small and medium rural and agricultural firms.

3) Identify factors that may increase the effectiveness of export assistance programs

/CCFICS – Codex Committee on Food Import and Export Inspection and Certification

/EU European Union

/Export Enhancement Program (EEP) 

FAO Food and Agriculture Organization of the United Nations

/WTO World Trade Organization

/APEDA

Consumers who pay high prices for the food they consume have the right to know about the source and quality of the food. When it comes to processed or packaged food products the batch level traceability helps to identify and recall unsafe foods. Thus the Traceability provides the ultimate customer trust and gives them confidence about the authenticity of the product delivered on time. 

Conclusion: 

Farmsio’s Food Traceability and Trackability come down to systems that can meet the needs of an increasingly dynamic food chain through a Blockchain network. Track and Trace Processes need to be standardized among producers, suppliers, and distributors so that, in the case of an issue, traceability can be a powerful asset in the diagnosis and recovery efforts.

Farmiso with extensive experience in Sustainable Agriculture Methods and Modern Digital technology for Agriculture expertise can ensure traceability and food safety throughout the food chain and work closely with the Food and beverage producers, processors to find the right tailor-made, result-oriented, traceability solutions.

[elenabennet]

How To Go Live With Super Market Grocery Shopping App?

Everyone nowadays is trying to find solutions that would save them time and effort. People are becoming more engaged with the online platform to reduce stress and uncertainty when purchasing food. People would enjoy online grocery shopping app development that have appealing features and are delivered to their homes. Individuals who are unable to start picking up what they have bought from the supermarket can have it delivered through the use of grocery delivery apps.

Grocery Application Categories

There is a classification system that will assist you in selecting a grocery shopping app. You can take a look at the options offered by the developers.

Apps for grocery shop chains

Integrated applications

Innovations for the marketplace

Application for groceries delivered to a particular resource

Apps For Grocery Shop Chains

It's a form of on-command grocery delivery application that offers customer service. There's a sense of on-demand delivery arrangements that are both physical and practical. Customers who are unable to pick up their orders from the grocer can have them delivered to their homes. It is straightforward and convenient to purchase groceries through internet applications.

Integrated Applications

A list of payment solutions that can be given to users is provided. Customers can choose from a list of groceries to purchase at a supermarket. It allows clients to choose the things they require from their particular mobile application. The confirmation of the supermarket order can be done in a variety of ways. Grocery consumers will receive a message to track the progress of their orders. The delivery is made to the customer's specified address. It's important to remember that delivery is the responsibility of a certain store, as detailed data is presented on the sites.

Innovations For The Marketplace

When the marketplace has a delivery staff, the grocery buying app is pleasant and convenient for clients. The requested things are supplied to the customer's address, and they are informed as to whether or not they can be supplied at a certain time. Customers will enjoy this style of supermarket shopping.

Application For Groceries Delivered To A Particular Resource

If you require a specific supermarket facility for a single day, you should look into the construction of a grocery business application. For appropriate operation and online news updating, there is an opportunity to manage several stages of mobile buying. These specific facility grocery delivery applications allow for the purchase of goods for a specified purpose.

Components Of Grocery Application That Are Competitive

To ensure the success of online shopping applications, commercial characteristics should be recognized throughout the creation of grocery shopping apps. A list of features is provided below;

1.   Obtain a business license

Once you've settled on an online grocery company, you'll need to register your company, receive all of the appropriate approvals from the authorities, and file all of the necessary tax forms. For all the requirements, get professional guidance from a licensed tax adviser or chartered accountant.

2.   Product Lines on the Target list

To attract clients and produce income, you need more than just an internet store or a mobile app with product lists. To become a dominant player on the internet, you need a new website that complies with SEO and search engine standards, has a customer-centric user interface, loads quickly, and is mobile-friendly with plenty of features.

3.   A variety of search possibilities

Customers have a variety of search choices with a good online grocery buying application. They can shop for specific items by browsing through several product categories. Account coupons are also available. The growth of digital grocery is at an all-time high, offering clients a variety of search alternatives.

4.   Financial alternatives

Various programs have been set up to promote the growth of grocery applications. When paying for groceries, it's a good idea to look into electronic wallet solutions like Paytm. It will give guests quick and dependable services as well as a wide range of options. It is a necessary commercial feature for online grocery purchasing software.

5.   Approaches for delivery

Potential consumers of the grocery shopping app will prefer to have their orders delivered to their homes. The greatest application should allow you to track your orders and cancel them once they have been placed. Furthermore, users will feel more at ease if they receive answers to all of their delivery-related questions. It is another feature that must be included in the construction of a grocery shopping app.

6.   Application notifications

Push alerts are another important feature of grocery apps. Various sorts of notifications are sent to users about advantageous discount codes. It will keep the audience interested in the app and raise the number of sales for the grocery store. It's important to remember to add it as a function in your online grocery shopping app.

7.   Take a look at your competitors

Keep a watch on what your competitors are up to and contrast their products. Pay attention to their offers and devise a marketing strategy that will enable you to outperform the competition. Examine your competitors' pricing models and delivery policies regularly.

8.   Invest in the best SEO firm

Once your grocery store is up and running, your work isn't done. That is only the start. To market your website to the internet world and attract the attention of the target audience, you'll need to hire dedicated SEO experts. The correct SEO Company can help you increase sales by driving more traffic to your company's website.

9.   Inventory management

Stocking up on supplies or forming an initial partnership with a local food store are two options for inventory management. Preparing a list of products and making arrangements for them is the best approach to get started.

10. Cost

The cost of developing an online grocery shop and an online grocery store app is determined by the client's requirements and features, as well as the project's size and design, features and advanced features, location, and completion time.

The white-labeled store and application will cost you roughly $3000-$5000 in total. If you have a specific requirement for an on-demand grocery app with extensive capabilities, it will cost you between $12,000 and $25,000, including the one-time setup of your business and three months of post-deployment support.

And if you own a mega-store and have a novel strategy where you want a multi-vendor grocery app for intermediaries or chain businesses like InstaCart or Amazon that works on all platforms due to its cross-platform capability with features that can attract more customers and generate more revenue, it will cost around $50,000.

Conclusion

In an essence, the categorization with application presence can be accomplished in the manner described above. The success of the online grocery industry will be determined by the design of the shopping service. Recall that with each passing year, internet buyers will have additional prospects for growth and sales. You may learn more about the highlighted online grocery shopping app by reading the above-mentioned facts.

If you'd like to open an online grocery store, think about the factors listed above. If you believe we at Apps On Demand have missed something, please let us know in the comments section below.

Get In Touch With Us

[abrown455]

Leading Trends in Supply Chain Management in 2021

The constant change in supply chains, as well as the increasing business globalisation, has transformed the Indian perception of supply chain networks. Moreover, the Covid-19 pandemic has brought about a significant shift to redefine the operations of the supply chain globally. This is primarily done by leveraging the company workforce and resources to enhance responsiveness and efficiency.

Due to the pandemic, Indian economic development and recovery are dependent on consumer, pharmaceuticals and agricultural products. However, several more factors disrupt the recovery process in the given supply chain. In any case, we must commend India’s attitude and progress in effectively implementing the vision to recover its economy.

Why do we need supply chain management in India?

As with any other country, India is troubled by uncertainties and risks from the ongoing pandemic. However, it must explore and generate strategies to improve the supply chain and its management. Previously under-equipped companies have risen to the occasion by adopting technical standards and analytical practices even with limited resources. All of this needs constant risk assessment, upgrades and managements for an efficient supply chain management system, ensure sustainability and stabilise economic growth.

We would heavily rely on agile methodologies and digital technologies for the ever-increasing technological demand. Thankfully, we have the intelligence and resources for managers to equip themselves with new skills and an analytical perspective that helps them make better and informed decisions. Using state-of-the-art technology, interest in various cultures and a skilled workforce, we can adapt to the upcoming challenges and stabilise in the distant future.

What are the significant trends in Supply Chain Management in 2021?

Companies are expected to explore their business strategies, reconsider their trade channels and diversify their manufacturing process. In the end, the goal remains to develop cost-efficient technological changes in the cold chain companies in India. 

Sales and Operations Executive (S&OP)

If companies resonate with agile management, they can effectively devise and execute necessary plans during unpredictable demands, disrupting the entire supply chain management. Thus, they can predict risks faster and avoid disruptions easily.

Artificial Intelligence and Machine Learning

 Though the supply chain operations are mostly digitalised, the pandemic has only accelerated the sudden change. Therefore, artificial intelligence and machine learning will influence significant decisions by working through data collaboration and actionable insights.

Sustainability

Business plan to strategise sustainable development schemes in managing supply chains to counter environmental issues. Therefore, large-scale organisations are working together to replace traditional strategies with sustainable and eco-friendly standards. Over time, Indian companies have now embraced ecological business initiatives with the United Kingdom, the United States, Japan and France.

Automation

The term ‘automation has been around for several decades now. Repetitive and manual tasks such as data entry have been replaced by automated software, allowing business to focus their resources on intensive tasks. This speeds the process, reduces errors, ensures information availability, and gains market growth.

  What are our aims?

Due to the reduction in consumer demand during the pandemic-induced lockdown, the rate of rising consumer demand determines the supply chain’s future.

We must see a proportional increase in the requirement for capital goods to counter the sudden increase in consumer demand. This may impact the disturbed supply chain adversely, which is already struggling with cash flow inconsistencies.

Therefore, we must re-strategise business goals, integrate the supply chain procedures, foster productive vendor partnerships for improved inventory management and employ advanced technology.

What else can be done to better the situation?

First things first, India must position itself as the onus of the supply chain market globally. This needs fostering productive trading relationships with the international partners, facilitating effective supply chain processes based on the protectionist policies. Other supply chain solutions companies include:

Promoting a transparent and accountable culture

Advocating for eco-friendly and sustainable methods

Establishing global, regional and sectoral level supply chains

Restratregising external and internal operation to eliminate risks

Establish Common Facility Centres (CFCs) to reinforce technological standards at the exporting and importing level

Diversify the supply chain operations, promote business expansion and deliver industrial incentives to resume business operations

Increase the operational hours in management

Support businesses by supplying information to the logistics, distributors, buyers and customers

Upskill supply management professionals

Negotiate Free Trade arrangements, including post-Covid policy changes in Indian export and import

Despite devastating setbacks on the business and economy front, India prides itself on its expansive consumer base, FDI regulations and a healthy rank in the Ease of Doing Business. If you are looking for top supply chain companies in India, please contact us at  RK Foodland.

[pixelproductions]

Wholesale Liquidation Ecommerce: What Is It?

What is wholesale liquidation Ecommerce and more importantly how can it benefit your online business? Find out.

Whether you own a retail store, ecommerce site, or have a booth at your local flea market, buying items in bulk is most likely at the heart of your business model. When purchasing items in bulk, you can receive goods at a price either at or below market value. In return, you’ll be able to sell these items at a higher price to make a profit.

If you run an ecommerce business, one way to supply your inventory is through wholesale liquidation sales. Through wholesale liquidation sales, you can find bargain deals on supplies you need and then sell them for profit. Throughout this post, we’ll go over what wholesale liquidation ecommerce is, why it’s beneficial, and how to bring your online company to the next level.

What is wholesale liquidation ecommerce?

Wholesale liquidation ecommerce is when you buy large amounts of liquidation or clearance merchandise to increase your profit margins and save time and money. Whether you run an ecommerce site on trading platforms like eBay or Amazon or created a website for your ecommerce business, wholesale liquidation sales can keep your inventory full.

What exactly are clearance and liquidation sales? Clearance sales, also known as overstock sales, are sales on items that need to be cleared out to make room for new inventory. Clearance sales also pop up when businesses receive too much inventory and they need to sell it to get their money back. Clearance items are typically in brand-new condition with their original price tags and packaging.

Liquidation sales, on the other hand, occur when a business or retail establishment closes its doors. This doesn’t always mean a company is going out of business—sometimes, a business liquidates its inventory because they’re moving locations and don’t want to deal with transporting large amounts of inventory. Similar to clearance items, liquidated merchandise typically comes in brand-new condition with their original price tags and packages.

Side by side, however, liquidated sales often offer better deals. This is because when businesses are liquidating their merchandise, everything must go, so prices drop significantly to clear their shelves. Many large retailers, like Walmart, Big Lots, and Target, are known for their wholesale clearance and liquidation sales. So, keeping your eye out for truckloads of Walmart liquidation merchandise can help you bring in some big bucks.

Benefits of buying wholesale liquidation merchandise

There are many reasons why you might want to buy wholesale liquidation merchandise to fuel your ecommerce business. Some of the top benefits of wholesale liquidation merchandise include:

Higher Profits: One of the main benefits of shopping for wholesale items is that it can help increase your profit margins. When you buy a truckload of merchandise, you’re sourcing inventory directly from a merchandiser, who offers greater savings compared to buying a single pallet of merchandise.

Reduced Shipping Costs: Another cost-saving benefit of shopping wholesale is that you greatly reduce your shipping costs. If you source directly from a major retailer, like Amazon or Walmart, you can get entire truckloads of inventory. With an entire truck filled with products, it all ships simultaneously in one truck, which is more cost-efficient than buying a single pallet from multiple retailers.

Untouched Merchandise: Consumers don’t want to buy touched, used, or damaged goods. As an ecommerce business, you can get brand-new merchandise at a fraction of the cost in brand-new condition when shopping wholesale. Through wholesale liquidation providers, you won’t have to worry about middlemen cherry-picking through items and reducing their value.

High-Quality Merchandise: Because wholesale liquidation merchandise comes untouched, it maintains its high-quality and brand-new charm. Without intermediaries sorting through merchandise before you, you can have peace of mind knowing the wholesale merchandise you buy from major retailers and businesses is in tip-top shape.

As you can see, there are plenty of reasons why shopping wholesale can be beneficial for your ecommerce business. By doing so, you can find affordable merchandise that can be resold for a profit and keep your customers coming back for more.

Growing your ecommerce business

Now that you know what wholesale liquidation ecommerce is and why it’s beneficial, it’s time to bring your online business to the next level. With your inventory fully stocked, whether it be with apparel, tools, furniture, or home decor, here are some tips for growing your ecommerce business:

Social Media: Social media is a powerful tool. Through social media platforms like Facebook, Twitter, and Instagram, you can connect with your customers, reach a broader audience, and share new updates about product launches and new merchandise. Even better, social media is completely free! With a thorough social media marketing campaign, you can reel in new customers, create giveaways and raffles to boost engagement, and respond to reviews and comments to grow brand trust.

Email Marketing: As an ecommerce business, almost all of your business is done behind a screen. While email marketing might seem outdated, it continues to be one of the most powerful tools for reaching customers. Through email marketing, you can send newsletters, do giveaways, and send weekly or monthly updates and promotions.

Website Design: If you want customers to visit and stay on your site, website design is crucial. To improve user experience, it’s important to have two website templates: one for desktop and one for mobile. This way, mobile users will be able to access your site without slow page speeds or a faulty web design that’s not compatible with their smartphone. You’ll also want to focus on writing detailed product descriptions, keeping up with consistent blog posts, and improving your site’s overall SEO value.

Wrapping up

Wholesale liquidation ecommerce can be an extremely rewarding and lucrative endeavor if done correctly. There are many benefits to purchasing wholesale merchandise for your ecommerce site, such as increasing your profit margin and having access to high-quality items. And to grow your ecommerce site, it’s important to focus on a variety of marketing initiatives to reach more customers, such as using social media channels to interact with leads and email marketing to keep current customers up to date.

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How to attract Venture Capital & Angel Investment: A business plan from an investor's perspective

1.0 Introduction - Reasons for raising capital

Fundraising for startups is quite an important step and different methods are often utilized which include Venture capital, Bank loans, Crowdfunding or Angel investors.When seeking startup funding it is critical to understand what stage of maturity your enterprise has reached. It is vital to be sure that the type and stage of funding you seek is in alignment with what funders are looking for as financing can facilitate growth but it often comes at the expense of reduced equity and corporate control.

1.1 Stages of Funding

VC Pre-Seed/ Seed stage

Seed Stage capital is required to finance the early development of a new product or service.This early funding may be directed towards product development, proof-of-concept ,market research, or to cover the administrative costs of starting the enterprise. A true seed stage company has not yet established commercial operations .A startup in this phase establishes proof of concept by demonstrating a prototype(product or service) to potential customers and entices them to become sources of capital.The company’s goal in this stage is to test the market, establish the viability of the business idea, and measure interest and attractiveness to investors.

Startup stage

Financing for startups entering this phase provides funds for product development, some initial marketing and some administrative overhead.This type of financing is usually offered to recently organized companies or to those that have been in business for a short time ,but have not yet sold their product into the marketplace.Startup companies in this stage have,often times,assembled key management, prepared a proper business plan,and have conducted due diligence on the market viability of their product or service.

Early stage

Startups requiring“early”stage financing have usually been in business between 2-3years and have launched the company.The management team has been established, commercial operations have begun and funding at this stage is often required to cover cash flow requirements. Financing in this stage also strengthens capabilities in the areas of manufacturing, sales,and marketing.

Second stage capital financing facilitates the expansion of companies that are already selling products or services. At this stage a company raises additional equity capital to expand its engineering, technology platforms, sales, marketing, and manufacturing capabilities. Many companies in this stage are not yet profit-able and they often use the financing obtained in this stage to cover working capi-tal requirements, and to support organizational overhead, and inventory costs. Third Stage financing, if necessary,facilitates major expansion projects such as plant expansion,integrated marketing programs,the development of a large scale sales organization,and new product development. At this stage the company is usually a tor near breakeven or profitable.

Mezzanine Financing Phase

Mezzanine financing is a late stage form of financing for startups and is often used for major expansion of the company.This type of financing can also fund an emerging growth opportunity for the company. At this point the company may not wish to seek an additional round of equity diluting investment and may prefer the hybrid form of financing that mezzanine debt/equity financing offers.In addition, entrepreneurs may still be unable to obtain traditional bank loans at this point. Mezzanine loan investors are able to obtain a higher degree of security than an ordinary investment in equity since their rights, as debt holders, are senior to that of shareholders.

2.0 Types of funding

Angels

Once the initial start-up phase of a start-up is over, business angels often appear as the first external equity providers in the seed phase. Business angels are wealthy individuals who invest their private assets in young start-ups with great growth potential. This is done by providing venture capital in exchange for company shares. Often having been active as founders themselves or as experts in a specific industry, business angels can contribute additional expertise and an excellent network in addition to their capital and thus support the founders comprehensively. Companies that receive their first BA financing are, on average, 10.5 months old,and only just under 30% can already show sales. Once a start-up has been able to win a BA as an investor, this increases the attractiveness of the start-up for other investors as well (Denis 2004; Mitter & Kraus 2011). This signal effect is one of the most important added values offered by an angel investor, along with the contribution of one's own experience and active participation in the further development of the company. If a start-up even manages to attract several co-operating BA investors, this syndicate of co-investors, due to a wider range of non-monetary contributions, demonstrably leads to increased business performance and a higher survival rate within the next three years after the investment.

Angel Investors often provide a required round of financing to startups that are on the early stage path to profitability. In many cases,startups have overlooked the category of angel investor for their financing needs. Some academics place angel investors in the seed stage category of capital sources and others identify angel investors as filling the gap between seed stage capital and venture capital.Angel investing is in actuality,a hybrid between the two. Angel investors are often affluent people such as successful entrepreneurs, who wish to stay involved with their industry by assisting the next generation of startups. It is not just money that motivates angel investors; providing needed and valuable guidance to management of the startup is gratifying as well. Startup founders need to take a close look at their own needs and requirements before entering customized agreements with angel investors as they may find them-selves giving away more control over their companies than they really want to. Angel investors require a return on investment in the area of 20x-30x their initial investment. These investors are not interested in slow-growth or “lifestyle” busi-nesses. They are after businesses that can grow at an annual rate of 40% or more. Unlike venture capitalists (VCs), many angel investors do not calculate Internal Rates of Return (IRR) and other measures of investment performance. Angels often regard these types of calculations as too speculative. Startups can also expect a changing playing field when negotiating return expectations with angel investors

Venture Capital

The financing of angel investors is often followed by another form of external equity financing, namely venture capital (VC). Unlike business angels, VCs operate in the form of public or private investment companies that provide venture capital to start-ups. The invested sums usually comprise amounts in the millions. The primary investment targets are innovative companies with high growth potential, but which often entail a high risk . From the founder's point of view, the same applies: venture capital is attractive for start-ups with great growth ambitions and the associated high strategic uncertainty, low prospects of success, but in the case of success, strongly positive cash flows. In addition to venture capital, VCs as active investors bring their expertise and access to networks to the respective start-up as value-adding services. They also perform monitoring tasks to reduce existing information asymmetries. This active investment approach, combined with the risk taken, makes VC funds demand a higher return, which in turn leads to high capital costs compared to otherwise financed start-ups. Additionally, VC funds often require a substantial ownership share. Venture capital is a source of financing that usually follows seed stage funding and angel investor funding that is utilized in the earlier stages of the startup’s life. This type of growth financing is provided to high-potential,growth-oriented companies that require a substantial round of investment.The amounts are usually in excess of five hundred thousand dollars and up to tens of millions of dollars or more.However,it should be noted that venture capital funding can occur at any time throughout the startup’s initial phases prior to IPO.

Venture capital firms bear a high degree of risk investing in startups, including a complete loss of their investment. As such,most venture capital investments are done in a pooled for-mat,where several investors combine their investments into one large fund that invests in many different startup companies.Large pooled funds of VC firms can range anywhere in size from$25million–$1billion.The VC firm will generally take a seat on the Board of Directors of the startup and will take an active role in bringing their management experience to the company. Many VC firms specialize in certain industries such as technology, biotechnology, and health care where they bring deep industry expertise to bear. VC’s most often take equity positions in startup companies in exchange for their capital and expect annual rates of return of between 30%-50%.It should be noted, however, that rates of return in this category are subject to a wide variety of factors, not least of which has been the difficulty in raising pools of capital for venture financing over the last several years. VC’s require high rates of return because ,in many cases ,their investments in startups are highly illiquid and require anywhere from 3-7years to come to fruition through a favorable exit event such as an IPO,merger and acquisition,or a leveraged buy-out. It is critical for startups to perform their due diligence on VC firms before jumping into bed with them.

2.2 A Business Plan

A Business Plan is a document in which a business opportunity, or a business already under way, is identified, described and analyzed, examining its technical, economic and financial feasibility. The Plan develops all of the procedures and strategies necessary in order to convert the business opportunity into an actual business project

A business plan, in principle, can be seen as a document that commercial-izes your business idea as a whole towards potential investors and stake-holders. A business plan is successful if you succeed in conveying to the reader the most significant opportunities and growth capacities of your company realistically. A business plan should justify and describe your business idea and further business development in a clear and adequate manner. It should not merely aim at emphasizing the strengths of the company, but rather at presenting a realistic portrait of its problems, risks and obstacles. In addition to this, appropriate solutions should be proposed and discussed in detail. A business plan can be used for specific purposes. One target might be to obtain new means of investment for the development of a product or the marketing of a new product.

2.3 Aspects of an attractive business plan from an investors perspective

Financial performance

It is vital to prove to potential investors that the company has excellent financial performance. Venture capitalists will look for a potential of high returns and a clear exit opportunity. Investors will wonder if the company shows signs of growth and if it has plans such as issuing shares or borrowing money to stimulate growth

Background and experience in the industry

Investors don’t want entrepreneurs to make mistakes on their dime. Investors look for experienced entrepreneurs and management teams with a track record of high performance and leadership in the company’s industry or in prior ventures. Most investors will research your business experience and your background in the industry. Passion and commitment should be evident to inspire confidence in investors and stakeholders.

The product or services need to be unique. It is vital to prove to investors, with concrete evidence, that the market potential is big enough to make investing worthwhile.Venture capitalists are influenced by product characteristics such as proprietary features and competitive advantage. Also, investors look for features that distinguish the startup from potential competitors and give them some sort of advantage, such as intellectual property protection, exclusive licenses and exclusive marketing and distribution relationships.

Effective business model

The startup will start to display its strategic value as soon as it begins to generate profits. It is important to prove that the business model that is currently being used  will help the company become more profitable.Different types of investors seek different attributes from a business plan. It’s important to customize the business plan and pitch to each investor. For example, venture capital fund managers and angel investors tend to put more emphasis on both market and finance issues, so those are areas that a startup should focus on when approaching these types of investors.

Large market size

Angel investors typically invest in solutions that address major problems for significantly large target markets. On the other hand, venture capitalists look at market characteristics such as significant growth and limited competition when investing.The larger and more stable customer base that your brand has, the stronger competitive advantage a startup will have when pitching to investors. A larger and more stable customer base will serve as proof that the company has a great impact on its target market.Investors look for companies that can grow quickly and manage this high growth scale. Investors must see that the company can generate significant profits beyond the initial product idea with adequate financial projections and a plan to include multiple sources of revenue.

References

Uniformed Services University of the Health Sciences. (2003). Strategies for attracting angel investors. Journal of Commercial Biotechnology, 9(January 2003), 8. https://www.researchgate.net/publication/233551418_Strategies_for_attracting_angel_investors

Università degli Studi del Sannio. (2014). The New Ways to Raise Capital: An Exploratory Study of Crowdfunding. nternational Journal of Financial Research, 5(April 2014), 10. https://www.researchgate.net/publication/273985092_The_New_Ways_to_Raise_Capital_An_Exploratory_Study_of_Crowdfunding

University of Glasgow. (2004). What do Investors Look for in a Business Plan?: A Comparison of the Investment Criteria of Bankers, Venture Capitalists and Business Angels. International Small Business Journal, 22(June 2004), 10. https://www.researchgate.net/publication/247738793_What_do_Investors_Look_for_in_a_Business_Plan_A_Comparison_of_the_Investment_Criteria_of_Bankers_Venture_Capitalists_and_Business_Angels

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Global Point Of Sales Market to Garner 34.77 Bn Valuation by 2025

Point Of Sales Market

Market Research Future (MRFR), in their latest report has stated that the global POS software market is anticipated to project a robust CAGR of 14.27% during the forecast period. The report has also mentioned that the global POS software market was valued at USD 14.10 billion at the beginning of teh forecast period and is expected to grow at USD 34.77 billion by the end of 2025. POS software, or point-of-scale software refers to a solution that is used in combination with POS hardware terminals like cash registers, debit card and credit card processing equipment, displays, special terminals, optical scanners, and magnetic card readers.

The POS software system has the capability of analyzing the inventories, sales reports, and optical scanners, along with magnetic card readers. The POS software system can analyze inventories, sales reports, and many other parameters that are offering a graphical and pictoral representation for facilitating better business insights. This, in turn, aids a simplification of business operations and a rise in employee productivity, customer satisfaction, and operational efficiency.

The global POS software market is majorly driven by the increasing adoption of smartphones, tablets, and other smart handheld devices. Apart from that, changing payment options that include a growing use of debit cards, credit cards, and other digital payment wallets has also supplemented the market growth for POS software, globally. Government has introduced various regulations which is supporting the development of high-speed networks, which in turn, is also aiding the mushrooming of the global POS software market over the forecast period.

Regional Analysis

The geographic analysis of POS software market has been done for North America (the US, Canada, and Mexico), Europe (Germany, the UK, France, Spain, Norway, Benelux, and Italy), Asia-Pacific (China, Japan, India, South Korea, Australia, Malaysia, Indonesia, and the Philippines), Middle East and Africa (Saudi Arabia, Israel, Turkey, and South Africa) and South America (Brazil, Peru, Chile, and Argentina).

North America is currently dominating the global POS software market. The US followed by Canada is currently leading the market as the country has been the earliest adopter of advanced technologies. Additionally, well-established network infrastructure, developed economy, and increasing demand for POS terminals are driving the growth of POS software market in the US. Furthermore, the region houses the majority of the key players who are focused on developing POS solutions to meet the consumer demand which is contributing to the growth of POS software market in the region.

Europe holds a significant share in the global POS software market. Increasing number of initiatives by the European government to reduce dependency on cash payments and digitalize the payment process and replacement of non-EMV Master, Visa and Europe POS terminals with PCI-compliant EMV POS terminals to reduce fraudulent activities is driving the growth of POS software market in Europe. Furthermore, growing adoption of cloud-based POS solutions has significantly increased the demand in the region.

Asia-Pacific region is projected to grow at the fastest CAGR in the global POS software market. Increasing demand for POS terminals across retail and hospitality sectors and increasing popularity and ease of cashless transactions is driving the market growth. Furthermore, the growing number of SMEs across the region which demands cloud-based POS software is further contributing to the market growth.

The Middle East and Africa and South America are expected to grow at a steady pace in the POS software market. Growing demand across enterprises in the region to streamline the transaction process, increasing government initiatives regarding secure payment transaction, and rising adoption of mobile POS solution to improve customer engagement, customer satisfaction ratio, and customer experience is expected to increase the demand for POS software.

Key players

MRFR has considered Microsoft Corporation (US), Toast Inc (US), Square Inc (US), TouchBistro Inc (Canada), Poster POS (Ukraine), Vend (New Zealand), Miva, Inc (US), Lightspeed (Canada), Shopify (Canada), Salesforce.com, Inc (US), Intuit (US), Bindo POS (US), Erply (US), GOFRUGAL (Dubai), Toshiba Corporation (Japan), PAX Global Technology Limited (Hong Kong), Panasonic Corporation (Japan), Intel Corporation (US), and HP Inc (US) as some of the key players in the Global POS Software Market.

More Information@

POS Software Market by Application, Component, Growth and Forecast – 2025 | MRFR

POS Software Market is supposed to reach USD 34.77 billion by 2025 growing at a CAGR of 14.27%…

Read on marketresearchfuture.​com

About Market Research Future:At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Reports (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research and Consulting Services.Contact:Market Research Future+1 646 845 9312Email: sales@marketresearchfuture.com

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The Ultimate Guide to Building a Website Redesign Strategy

So… you want to redesign your website. Maybe you just finished a brand overhaul or your product was recently updated. Whatever your reason, a redesign can be a huge success — or a total flop. It can also be a long and tedious undertaking, which is why every redesign needs to start with a clear vision and/or problem to solve.

The better you are at defining that vision at the very beginning, the more successful your redesign will be — and the smoother the entire process will be as well.

Whether you’re working with an agency, redesigning your site in-house, or proposing a redesign to company stakeholders, this guide will help you strategize your website redesign and ensure it turns out to be a huge success — not a total flop.

Website Redesign

A website redesign is the process of changing and updating the content, structure, format, and navigation of your website to improve performance and convert more visitors.

Many organizations opt to redesign their website to welcome more traffic as their business grows and scales; others invest in a website redesign as part of a larger rebranding initiative. Regardless of why your company is interested in a website redesign, the project itself is a massive undertaking. Not to mention an important one to get right considering the critical role your website plays in your marketing and brand image.

In fact, 80% of consumers say the experience your company provides is as important as the products or services you sell — including the experience they have with your website.

How Often Should You Redesign Your Website?

According to Business 2 Community, the average lifespan for a website is 1.5 to 2.5 years. Because design trends change and technology advances, this is the average amount of time that a redesign will feel “fresh” and competitive. However, that time frame is only a benchmark, so you will need to determine what works best for your organization. 

The following factors will determine how often you should redesign your website: 

How often your brand or goals change. When you’re itching for a new site, first ask yourself, “Does this website still represent who we are as a company?”

How much budget you allot to design and development. Ask yourself, “Can a site design wait, or do I have reasons to use the budget on our site now?”

How long your website stays functional and fast. Step into your customers’ shoes and see if you can navigate the site well and find everything you want to find without encountering errors or long page load times.

The performance of your website. Ask yourself, “Is this site converting a reasonable amount of traffic? Do people stay on the page for a reasonable amount of time, or do they bounce?”

Changes in the industry. For example, when Google announced that it would be changing to mobile-first indexing, it necessitated that sites be mobile-friendly, or they’d lose organic traffic from Google.

Your website is where visitors and customers go when they want to ask questions, read content, or purchase products or services. For that reason, it’s best to be extra prepared when committing to a website redesign.

You may spend more time building your website redesign strategy than you will on the redesign itself. If you’re wondering what should go into your website redesign strategy, start with the steps below.

How to Redesign a Website

Benchmark your current performance metrics.

Determine your website redesign goals.

Define your branding and messaging.

Define your buyer persona(s).

Protect your search engine optimized pages.

Analyze the competition.

Take inventory of your high-performing assets.

Choose the right software.

Let’s unpack eight critical steps to take when redesigning your website.

1. Benchmark your current performance metrics.

Before you begin planning your website redesign, document your current performance metrics. This will give you a good idea of where your current website stands and what metrics you can improve upon through your redesign.

Analyze your existing website’s monthly performance in the following areas. The importance and relevance of each may vary depending on your website redesign goals, but it’s helpful to pull each metric before you dive into your redesign.

Number of visits, visitors, and unique visitors

Bounce rate

Time on site

Top-performing keywords in terms of rank, traffic, and lead generation

Number of inbound linking domains

Total new leads and form submissions

Total sales generated (in dollars)

Total pages indexed

Total pages that receive traffic

If you don’t have access to this information, I recommend adding tools like Google Analytics and HubSpot’s Marketing Analytics for better tracking and visibility into your website’s performance.

Furthermore, make note of which tools you used to measure each of these benchmarks in the past. Ideally, you’ll want to use those same tools when collecting your post-redesign metrics. Otherwise, you’ll be comparing apples to oranges.

2. Determine your website redesign goals.

What’s the “why” behind your website redesign? When considering a redesign, there should always be a good reason behind it.

If you’re answering with “well, it’s been a while since we’ve done one” or “my competitor just did a redesign,” those reasons aren’t good enough on their own.

Remember: It’s not just about how your site looks, but rather how it works. Be crystal clear about why you’re doing a website redesign, and tie those goals to measurable results.

Then communicate your goals with your team, designer, and/or agency. Consider the following data-driven objectives for your own website:

To increase the number of visits and visitors (both are important as one visitor could visit more than once)

To reduce bounce rate

To increase time on site

To improve domain authority

To increase the total new leads and form submissions

To increase the total sales generated

To enhance current SEO rankings for important keywords

Many of these goals are dependent on one another. For example, in order to generate more conversions, you may also need to increase traffic while decreasing your site’s bounce rate.

Also, take a look at the metrics you pulled out in step one. Are there any metrics you can improve upon with your new website? Perhaps you use your old website metrics to inspire new goals, too.

3. Define your branding and messaging.

Before crafting your new website design and content, be crystal clear about your desired branding, messaging, and unique value proposition. Doing so will ensure consistency across your entire website.

Anyone who visits your website for the first time should immediately understand what you do, how it may benefit them, and why they should stay on your site and not flee to your competitors’.

Think about whether you plan to change your branding and/or messaging, or if it will stay the same. If you plan to change it, what about it needs to change? Keep these changes top-of-mind as you redesign your website.

Download this free workbook for guidance and templates to simplify your next website redesign project.

As you develop your messaging, use clear, concise language. Avoid using industry jargon that may alienate parts of your audience and make you sound more like a business-babbling robot than a human.

Consider the following example of how we could describe HubSpot in a “gobbledygook” way:

HubSpot helps companies across multiple countries reduce churn by backfilling the sales pipeline with highly qualified traffic that generates leads that convert into customers with high lifetime value. We achieve this by providing leading-edge software that integrates all marketing channels for a synergistic view of the data that determines and prioritizes high-value marketing activities.

Say what? Let’s translate that into the way people actually speak:

HubSpot’s all-in-one marketing software helps more than 6,000 businesses in 45 countries attract leads and convert them into customers. A pioneer in inbound marketing, HubSpot aims to help its customers make marketing that people actually love.

Much clearer! I think visitors and potential customers would prefer the second description — don’t you?

Additionally, as you develop your branding, consider what visual aspects of your website need to be redesigned and what can stay the same. Have you created a new logo, style guide, or color palette? Make sure these are applied to your new website so it remains consistent with other parts of your brand.

4. Define your buyer persona(s).

Your website is not just about you. Actually, it’s hardly about you.

When your visitors land on your website, they’re asking themselves, “What’s in it for me? How could this help me?”

Speak to your visitors in their language by crafting your website design and content around your buyer personas.

For instance, if you’re a marketing manager at a hotel looking to bring in new business, you might target five different buyer personas: an independent business traveler, a corporate travel manager, an event planner, a vacationing family, and a couple planning their wedding reception.

Make sure you clearly identify your buyer personas so you can shape your website redesign strategy around the website visitors that matter most to you.

Check out our handy buyer personas template to help you research and create detailed buyer personas.

Is your target audience changing as part of your website redesign? Do your branding and content align with this audience? Answer these questions as you’re strategizing your website redesign.

5. Protect your search engine optimized pages.

Getting discovered online is also essential to improving your website’s metrics. If no one is able to find and visit your site, how can you increase new leads, reconversions, or sales? Here are some tips for designing your new website with search engine optimization (SEO) in mind:

Document your most search-valued pages.

Use your marketing analytics to figure out which pages receive the most traffic and inbound links, convert the most leads, and ultimately cover the most influential topics in your industry. If you plan to move any of these highly valuable pages, make sure you create the proper 301 redirects.

Create a 301 redirect strategy.

Speaking of 301 redirects, these are extremely important in terms of retaining the traffic and link value associated with a given page. Create a spreadsheet to record and map out your 301 redirects (old URLs vs. new URLs). Then hand this document over to someone technical for proper implementation.

Do your keyword research.

For every page on your newly designed website, pick one keyword/topic each page will focus on. Once you determine the keyword(s), use on-page SEO best practices to optimize your website pages. Furthermore, consider adding new content and pages to your website that address those particular keywords and topics that may be neglected on your current site.

Save time and rank higher on Google with our free on-page SEO template.

6. Analyze the competition.

While we don’t recommend obsessing over your competitors, it can help to know how you compare. First, run your website through HubSpot’s free Website Grader tool to generate a report card of how well your website is performing. You can also use this diagnostic tool to evaluate your competitors’ websites, so you’re aware of their strengths and weaknesses.

Next, take a look at your competitors’ websites, and take note of what you like — and what you don’t. This process is to help you realize what you can do better on your website. Once you conduct your competitive analysis, put together a list of action items highlighting some areas for improvement and how you can set yourself apart from your competitors.

7. Take inventory of your high-performing content.

While a redesign is a great way to improve the performance of your website, there are unfortunately countless ways in which it can hurt you. Your existing website likely contains many high-performing content assets that you’ve already built up, and losing their effectiveness because of a redesign can severely damage your marketing results.

For instance, such assets might include your:

Most-shared or viewed content

High-traffic pages

Best performing or ranking keywords and associated pages

Number of inbound links to individual pages

For example, if you end up removing a page from your site that has accumulated a high number of inbound links, you could potentially lose a lot of SEO credit, which would make it increasingly difficult for you to get found on search engine results pages (SERPs).

Keep in mind that many web designers don’t consider this step because they are neither marketers nor SEO specialists. Don’t hesitate to remind them about this, and help them along by auditing your site and providing them with a list for maintaining or updating critical pages on your site.

8. Choose the right software.

The final (but arguably most important) step of the website redesign process is choosing the right software with which to create and host your website. This software is typically called a content management system (CMS), and it’s used to develop, design, and publish your website for the world to see.

CMS software is beneficial for a few reasons. Whether you’re a novice digital marketer or a master web developer, a CMS can easily help you create a gorgeous, functional website. Choosing the right CMS depends on your business, such as what CMSs you’re already familiar with and what features your website redesign requires.

There are hundreds of CMSs to choose from, including CMS Hub — the only combined CMS and CRM. Or you can review some of the best CMS platforms to learn about your options.

Get Started on Your Website Redesign Today

Whew! Now you’re ready to plan, design, build, optimize, launch, and analyze your new website. Apply these seven steps to redesign a website that attracts more consumers, wows more visitors, and converts more customers.

Editor’s note: This post was originally published in January 2013 and has been updated for comprehensiveness.

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Tags: building, Guide, Redesign, Strategy, ultimate, website

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300+ TOP SAP Business One Interview Questions and Answers

SAP Business One Interview Questions for freshers experienced :-

1. What is SAP Business One? SAP Business One (or SAP B1) is an ERP (Enterprise Resource Planning) software platform specifically intended for small and medium-sized businesses (SMBs). SAP Business One was designed with the idea that smaller companies need ERP software to help manage their business, but not the kind of ERP that large and complex organizations need. It has functional modules for finance, customer relationship management (CRM), warehousing and production management, purchasing and procurement, and reporting and analytics. It provides managers with access to critical real-time data, enabling you to make quicker, better decisions to help grow your business. 2. Why SAP Business One? SAP Business One software is created specifically for small and midsized businesses. It’s a single, powerful application that can help you better manage practically every aspect of your daily operations. It’s affordable, easy to use, and quick to implement. SAP, a world leader in business management software for over 30 years, has performed more than 30,000 SAP Business One installations worldwide. Some important points of SAP Business one are It is very easy to use and learn It is affordable for SMEs It is designed for small and mid-sized businesses It is not a restricted or ‘cut-down’ version of SAP ERP. Its provides fully integrated functionality across all your business functions It is from the world leader in business applications It gives you a fast return on your investment It grows with your business SAP Business One is Global SAP Business One’s future development is assured 3. What are the features of SAP Business One include? SAP Business One some Features are: Accounting and financial management Customer relationship management (CRM) Supply chain and warehouse management Manufacturing Production management Purchasing and procurement Reporting and analytics Integration solutions 4. Can SAP Business One be customized? SAP Business One offers extensive customizability options. The SAP Business One Software Development Kit (SDK) provides programming interfaces, sample code, documentation, and a variety of utilities enabling customization of program functionality. 5. Which tool is provided by sap for keeping the track of events? SAP Business One Event Logger is a tool provided by SAP for keeping the track of events. Both SAP Business One and event logger should be executed simultaneously. Event logger will give you detailed list of events that fired while operating SAP. Event logger is very useful tool while developing add-ons in SDK.Coding can be done as per the events that are shown in event logger. For developing robust applications in SAP Business One SDK, event logger is useful tool since entire programming in SAP Business One SDK is event driven. 6. What are the SAP Business One Modules? Accounting Bank Transactions Business Partner Management Receivables Management Payables Management Sales and Distribution Purchasing Reporting Production Fixed Assets Material Requirements Planning Outlook Integration Service Management Sales Opportunity Management Stock and Warehouse Management Client Relationship Management (CRM) Human Resources Management 7. What are the benefits of SAP Business One? SAP Business One’s software provides many benefits including: A single application, SAP Business One is an exhaustive business management solution which takes care of your business’ diverse functions such as finance, sales, purchasing, manufacturing, inventory control, and human resources, among others. Enterprise Search: Find any data instantly. Enter an invoice number and the system will show you where it appears in any transactions Industry specific solutions: SAP Business One has the largest ecosystem of 3rd party providers that have built solutions in their open and extensible architecture to cover nearly any industry in any country. No solution comes close to the vastness of this well tested, certified and regulated community. Focus on your business and save time Clear, instantaneous insights & alerts: create up-to-the minute dashboards and business critical alerts Personalized/ Customer relationships: improve your employees’ productivity with a role-based user experience, built-in learning, analytics and collaboration. When different people assist you customers but know all the past conversations, emails and business transactions that took place, your customers feel like you care about them Support multi-currency transactions: multi-currency transaction and report capabilities Increase your bottom line: When a system is integrated across modules, including ones that many competitors expect you to bolt another solution on for, such as CRM (Customer Relationship Management) it reduces redundant data entry, complex or manual reporting to combine data, errors and delays. 8. What is the value returned when any method of a DI API object executes successfully? The Value 0 (Zero) is returned when any method of a DI API object executes successfully. 9. What are the different types of Data sources? The following are the different types of Data Sources: Data Tables DB Data Sources User Data Sources 10. What is DTW in SAP Business One? DTW (Data Transfer Workbench) is one of the most popular content in the context of SAP Business One. Whenever we talk about ERP Usage in an organization, that organization must have some legacy system from which they would like to import their initial data; or might be they are introducing a new web portal and need to export data from ERP. This import and export of data seems easy to hear, but it’s incredibly complex and difficult if not done properly.

SAP Business One Interview Questions 11. What is company object in SAP Business one? Company object represents SAP Business One database. It is used to establish a connection to a Microsoft SQL Server database. 12. Explain different parts of DI API? The different parts of DI API are COM Interface: The COM Interface provides the interface to the add-on application. DI Core: The DI Core, which is the main component of the DI API, performs all the data logic operations. Data manager: The Data Manager stores temporary object data, converts object data to internal data formats, retrieves data from the database, and controls the database transactions. Schema Generator: The Schema Generator creates XML schemas based on object interface descriptions. The schema generator also creates object validation lists. 13. How is SAP business one implemented? SAP Business One is implemented as a two-layer architecture. The system is based on a Microsoft SQL Server database where data is stored centrally. The business logic is mostly processed on the client software (fat client). 14. What is difference between AP or A/P and AR or A/R? Account Payable: Accounts Payable (AP) is recorded in the AP sub-ledger when an invoice is approved for transactions where the company must pay money to vendors for the purchase services or goods. Accounts payable are amounts a company owes because it purchased goods or services on credit from a supplier or vendor. (Payable always a liability) Accounts payable will decrease a company’s cash is affect in a Business. Causes this Transaction: It purchasing goods on credit. Accounts Receivable: Accounts Receivable (AR) records any money that a company is owed because of the sale of their goods or services. On the company’s balance sheet, accounts payables are recorded as liabilities while receivables are recorded as assets. Accounts receivable are amounts a company has a right to collect because it sold goods or services on credit to a customer. (Receivable always an asset) Accounts receivable will increase a company’s cash. Causes this Transaction: It selling goods on credit. 15. What is difference between Transfer rules and Update rules? Transfer rules: It is mapping the fields in the data source to the info objects in Info source or target fields. It help you to distinguish which all fields in the data source are required in the info objects in the Info source. Update rules: Update rules to update something. Here it revolves around a source (info source) and a target (data target). Update rules are used to update the data targets. You have to create update rules if you supply a data target from an Info-Source with flexible update. 16. What is MRP? The Material Requirements Planning (MRP) module enables you to plan material requirements for a manufacturing or procurement process based on the re-evaluation of existing inventories, demands, and supplies on changing planning parameters (such as lead time determination, make or buy decisions, and holiday planning).MRP calculates gross requirements for the highest bill of materials (BoM) level, based on existing inventory, sales orders, purchase orders, production orders, forecasts, and so on. It calculates gross requirements at the lowest BOM levels by carrying down net parent demands through the BOM structure. Dependent levels might have their own requirements, based on sales orders and forecasts. The MRP run also takes into account predefined planning rules such as Order Multiple, Order Interval, Minimum Order Quantity, Inventory Level, and so on. 17. What is difference between Matrix and Grid in SAP Business One? Matrix: matrix is the historical item of SAP B1. (You see in marketing documents where you enter positions). It is very good for data editing It is robust, can be managed fully (validations, data editing etc.). Column visibility and edit purposes can be managed by Form Settings Use this 80%, especially when save data into the database (UDO, UDT, UDF, ETC). Effective for Udo’s Filled automatically by SAP b1 when your navigate Grid: Grid is a newer object in SAP B1, is it very good for visualization (you see in MRP Wizard, expand / Hide) It is Very fast, can be loaded from data table It can be hierarchical (expanding / Grouping/ etc.). You can load the data using a SQL Query. You cannot modify udo data (just for viewing) – can’t link to UDO 18. What Is DBDatasource? DBDataSource is used for storing data from database. DBDataSource is linked to database table and it represents tabular data. DBDataSource is used by all system forms. You can get DBDataSource as follows – Here I have assumed that I have opened the form of Sales Order and I want to get the database details of the sales order. The table name is ORDR. Dim objDS as SAPbouiCOM.DBDataSourceobjDS= SBO_Application.Forms.ActiveForm.DataSources.DBDataSources.Item (“ORDR”) 19. What is used in SDK for developing a form? Screen painter is used for developing form in SAP Business One SDK. Screen painter is provided as add-on by SAP and it can be used to designing and developing forms. The files created by screen painter has srf extension and these files should be renamed to xml for deploying then in SAP Business One. 20. What is BubbleEvent? BubbleEvent specifies whether the event will be processed by SAP Business One or not. If BubbleEvent=True, then SAP Business One will process the event else the execution will terminate 21. What is DI Server in SAP Business One? In SAP Business One, DI Server is DCOM service that runs on the SAP Business One server and accepts XML data packed in SOAP (Simple Object Access Protocol) 22. What is DI API in SAP Business One? The Data Interface API (DI API) is part of the SAP Business One Software Development Kit (SDK). The DI API contains objects and methods that enable developers to read, write, update, and remove data objects on the database level. With the DI API, business partners can: Link their existing solutions “as-is” to SAP Business One, Extend the functionality of SAP Business One for missing industry-specific functionality, and Adapt the functionality of SAP Business One to fit their customers’ needs. Articles Blogs Tools Code Samples 23. What will happen if we remove event filters? If we remove Event Filters, then the all the events will fire. While programming in SDK, the unnecessary events should be neglected since it will decline the performance of the application. When Event Filter is applied to the SAPbouiCOM.Application object, then the events will fire as per the requirement of the user and thus enhancing the performance of the application. 24. Which tool is provided by SAP for keeping the track of events? SAP Business One Event Logger is a tool provided by SAP for keeping the track of events. Both SAP Business One and event logger should be executed simultaneously. Event logger will give you detailed list of events that fired while operating SAP. Event logger is very useful tool while developing add-ons in SDK.Coding can be done as per the events that are shown in event logger. For developing robust applications in SAP Business One SDK, event logger is useful tool since entire programming in SAP Business One SDK is event driven. 25. Which are the dll’s used in SAP Business One SDK? Interop.SAPbouiCOM.dll and Interop.SAPbobsCOM.dll are the two dll’s used in SAP Business One SDK. Interop.SAPbouiCOM.dll is used for accessing the user controls that are displayed over the form. Different controls such as label, combo box, matrix etc. can be accessed using Interop.SAPbouiCOM.dll. Interop.SAPbobsCOM.dll is used for accessing objects that are used in SAP. For eg, item object can be accessed as, Dim objItem As SAPbobsCOM.Items 26. Explain Core modules of SAP Business One? Administration Module: Configuration is performed here. Financials Module: Various accounting & financial activities are conducted here. Sales Opportunities Module: Here existing customers and potential accounts are structured and tracked. Sales Module: Here orders are entered, shipped and invoiced. Purchasing Module: Here purchase orders are issued and goods received into inventory. Business Partners Module: Business Partners (customers, vendors, and leads) are contacted and maintained here. Banking Module: Here cash is received and paid out. Inventory Module: Inventory is valued and managed here. Production Module: Here bill of materials is defined and manufacturing is tracked. MRP Module: Here purchase and production planning takes place. Service Module: After-service products are managed here. Human Resources Module: Here employee information is kept. Reports Module: System-default and user-defined reports are generated from here. 27. Which table saves the details of country ? OCRY table saves the details of country. 28. Which property of matrix gives the total number of rows in the matrix ? The property VisualRowCount gives the total number of rows in the matrix. 29. In SAP Business One SDK, which object is used for executing SQL queries and stored procedures ? In SAP Business One SDK,recordset object is used for executing SQL queries and stored procedures. 30. What is the value returned by a method when it executes successfully ? 0 is the value returned by a method when it executes successfully. Sap B1 Questions and Answers Pdf Download Read the full article

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How IoT Can Change The Retail Business

There are many reasons why every upcoming programmer should consider becoming an internet of things developers. First, with the advent and inclusion of IoT technology in the retail industry, the portfolio items embracing this technology have immensely expanded resulting in a huge market for those experts.

Also, over the last few years, the retail industry has received the much-needed momentum to enhance sales. Instead of relying on e-commerce websites to increase sales, more and more businesses are using virtual internet connectivity to create smart shops, tailored shopping experiences, and long-distance product interactions, which have broadened the horizons of this technology.

In this blog, we will examine what IoT is, the industry that uses this technology, and its effects on the retail industry.

What is the Internet of Things?

The Internet of Things, which is a system of interconnected computing devices, digital equipment, and objects that have unique identifiers and are capable of transferring data in a network without human intervention.

Using embedded technology, IoT pushes internet connectivity outside of everyday devices to various devices that allow them to interact and communicate with the external environment through the internet. If you are looking for IoT app development company in Qatar

Examples of objects that qualify to be categorized as IoT system thermostats, cars, connected security systems, electronic equipment, alarm clocks, vending machines, and more.

How IoT Can Influence and Change the Retail Industry

Over the past 2 decades, the retail landscape has experienced dramatic changes. This has given retail businesses with an innovative possibility to collect and examine data for target marketing across different channels.

There is also a growing need to increase customer dedication influences which have noticed the uptake of IoT within the retail ecosystem in an equal measure.

Understanding Shopper Psychology

Initially, e-commerce marketing was a preserve of large online retailers like Amazon and eBay. This is no longer the case as retailers are also embracing smart devices like Beacon to observe and learn the shoppers’ psychology. These smart devices can only continue being smarter and sophisticated as IoT technology continues to improve.

More:- IoT app development companies in Qatar

Eradicating Checkout Lines

Many retailers evaluate the chance of reducing checkout lines using IoT. To some extent, this was successful when the first free Amazon Go grocery store was launched earlier this year. A customer uses the application to check inside the store and choose the items needed.

Of course, the concept is still in the infancy stage. However, once proven to be sustainable, this can dramatically change the way brick-and-mortar retail shops operate.

Smart Shelves and Fleet Management                    

Both small and big retailers face one common denominator, having enough inventories in the right place and at the right time. However, IoT has shown the potential of eliminating this vexing problem by taking RFID technology and using it to improve inventory tracking for retailers.

The internet of everything coupled with IoT can also play an important role in improving fleet management. By establishing a robust connection between retailers, manufacturers, and transport companies, these stakeholders can then interface their systems to share information making fleet management easy.

Beacons

Beacons have been touted to spawn the next retail revolution given their aptness in customer attraction. These peculiar Bluetooth transmitters send push notifications to customers’ smartphones within the business range notifying them on available offers and discounts. Given the miniature size, they can be easily attached to counters or walls.

Beacons are also relied upon by retail companies in data collection through tracking the navigation behaviors of customers. Once coupled with information from other mobile apps, retailers can easily boost sales and increase customer loyalty by targeting appropriate shoppers.

Generally, this is how beacons are programmed to work. Together with other smart devices and sensors, digital signages collect data. Data collation is then done to determine when customers flock to purchase particular items plus many other aspects. Using IoT technology, personalized promotions are then created using the collected data and played during this period.

Digital Signages

Digital signages are helping retailers create a personalized shopping experience. Signage solutions like IPad screens, intuitive touch screens and digital-out-of-home applications can be used by retailers to impress their customers hence boosting sales.

They can also be used by retailers to push price changes and ads in real-time. This is because they can be programmed using the accumulated contextual cues from the customers to establish connections.

Creating Smart Stores

Most people are familiar with smart homes, but retailers are also exploring the possibilities of running smart stores give massive money-saving opportunities.

Integrating HVAC systems, security, and lighting with IoT technology has proven feasible in terms of energy costs saving. Automatic On/Off lighting in some areas depending on how that particular space is being used or even setting the temperature inside cooling systems may seem like a yawn–but the cost-saving benefits cannot be downplayed.

Final Thoughts

Whether in an online business or the typical brick-and-mortar retail business, IoT has positively impacted the business world. It is changing retail marketing and everything about it. Instead of the traditional marketing methods, digital platforms are riding on IoT to target audience through custom-made marketing and shopping experience. As we speak, IoT technology is on the radar of big companies as multiple innovations are being created around it. Early-gamers do recognize that failing to explore the valuable opportunities of IoT may mean being irrelevant in the future, while the late-gamers are slowly joining the bandwagon. With a strong emphasis on enhanced customer reach, improved user experience, and speedy supply chain operations, IoT will drive retail business a long way.

If you are looking for a list of IoT app development companies in Qatar or looking for IoT app development company in Qatar Contact Fusion Informatics. Fusion Informatics is one of the best Mobile app development company in Doha

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On Demand Car Wash App Development Cost

Ecommerce App Development Cost

Cost Of Mobile App Like Paytm

Food Delivery App Cost Like Zomato

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Real Estate - How Blockchain Technology Could Disrupt Real Estate

Real Estate - How Blockchain Technology Could Disrupt Real Estate

Real Estate - How Blockchain Technology Could Disrupt Real Estate

By CB Insights,   Blockchain technology could have a major effect on the real estate industry, from property purchasing to due diligence to title management. We identify the early adopters and potential impact. The real estate industry is undergoing a digital transformation. While historically a “pen and pencil” business — often relying on inefficient and archaic methods for doing business and keeping records — technology has begun to help reshape the expanding global market. Blockchain technology, especially, is feeding into this transformation (in ways similar to how the emerging tech is disrupting other long-established industries like banking and insurance). The decentralized-record-keeping technology, which is designed to instill trust in the authenticity of digital transactions, could be used to create efficient solutions for both commercial and residential real estate — from buying property to conducting due diligence to enabling crowd-sourced investments, and more.

  Some big incumbents are already betting on the tech: Real estate giant RE/MAX has entered into several partnerships to explore blockchain use cases, while Hilton Worldwide has begun using a blockchain-based property management system. In this analysis, we dig into how blockchain technology could transform the real estate industry, and the areas where we’re already seeing its impact. TABLE OF CONTENTS Why blockchain tech could benefit the real estate industry Areas of real estate being transformed by blockchain technology Property search process Due Diligence and Financial Evaluation Process Property management Title management Financing and payment systems Real estate investing Challenges Conclusion Why blockchain tech could benefit the real estate industry Blockchain technology offers a form of shared record-keeping which is designed to be difficult to tamper with. Blockchain technology operates through decentralized peer-to-peer platforms, building resilience against the spread of corrupted information and boosting resistance to fraud. See our explainer for more on how blockchain technology works. 

Blockchain technology has the potential to address many challenges within the real estate industry, including: Improving trust and transparency: Blockchain technology offers a verifiable and censorship-resistant option for sharing information (such as valuation details). Reducing siloed databases: Real estate processes would benefit from secure and tamper-resistant shared databases that compile data and documents from various different stakeholders in one place. Making transaction processes more efficient: Most real estate transactions are still conducted through wire transfers and require costly verification processes that can take days to complete. Blockchain-based transactions could enable a streamlined process which delivers quickly and reduces costs. Limiting the use of intermediaries: Many intermediaries — from brokers to escrow companies — could be rendered obsolete by blockchain-based approaches, as records could be stored, verified, and transferred using blockchain technology. Removing the need for intermediaries could dramatically reduce costs and save time. Areas of real estate being transformed by blockchain technology We consider several areas that could benefit from the use of blockchain technology below, from due diligence to financing systems. PROPERTY SEARCH PROCESS Currently, the most common method that brokers, owners, buyers, and tenants use to store and access property listings are through third-party platforms such as Zillow.

Zillow’s platform. Source: Zillow These platforms tend to be subscription-based and can command high fees from users. Moreover, there is a lack of standardized processes and often poor communication between the platforms. This causes property data to frequently be inaccurate, dated, or incomplete. Further, the data can be fragmented across multiple listing platforms, which introduces inefficiencies. Blockchain technology can fix these problems by allowing a property listing to exist on a single decentralized database. With data distributed across a peer-to-peer network, brokers would be able to have more control over their data, as it would be more difficult for it to be interfered with by any third parties. Market participants could access more reliable data at a lower cost. Imbrex is a real-world example of a blockchain-based property listing platform.

Source: Imbrex Imbrex’s real estate marketplace is built on the Ethereum blockchain. Buyers, sellers, and other agents can use the platform for free, earning rewards for contributing data and helping to maintain the marketplace. Data is encrypted and stored on a blockchain, which means Imbrex does not control it and cannot alter it — contributed data is controlled solely by the listing party. Imbrex is reportedly planning to launch smart contract-enabled transactions using its own cryptocurrency.

Imbrex’s platform. Source: Imbrex DUE DILIGENCE AND FINANCIAL EVALUATION PROCESS Physical paper documents for proof of identity are still the norm today. This approach requires the commitment of significant time and effort for due diligence and financial verification. This manual verification process also increases the likelihood of errors and can involve multiple third-party service providers. These factors can be costly and slow down the due diligence process. Using digital identities on the blockchain, this entire process can be taken online in a secure manner — increasing efficiency, lowering costs, enhancing data security, and reducing the chance of manual errors. For example, a real estate property’s digital identity could consolidate information such as vacancy, tenant profile, financial and legal status, and performance metrics. A digital blockchain-based solution is currently being developed by Lantmäteriet, the Swedish land authority, in collaboration with blockchain startup ChromaWay, Swedish telecommunications giant Telia Company, and several real estate enterprises. Its goal is to digitize contracts for sale and property mortgages that are authenticated by blockchain technology. This solution streamlines the process of transferring property titles while also adding some layers of security. All parties involved in the process, including the buyer, seller, real estate agent, the buyer’s bank, and the land registry, have their own digital identities. Each can use a single application to securely send and sign official documents using blockchain-verified smart contracts. All actors can view the associated documents and information, with verification of the steps that have taken place during the process. ChromaWay announced that it had completed a full transaction on the platform in June 2018.

A demo of ChromaWay’s application. Source: ChromaWay Other organizations around the world are also making blockchain real estate strides. Bank of China Hong Kong (BOCHK), for example, stated in mid-2018 that it processes 85% of real estate appraisals using its own private blockchain. BOCHK’s General Manager of Information Technology Rocky Cheng Chung-ngam said, “In the past, banks and appraisers had to exchange faxes and emails to produce and deliver physical certificates. Now the process can be done on blockchain in seconds.” PROPERTY MANAGEMENT Property management is highly complex, with many stakeholders involved — including landlords, property managers, tenants, and vendors. Most properties are currently managed either offline through manual paperwork, or through multiple software programs that generally don’t integrate well with one another. Through the use of a single decentralized application that uses blockchain-backed smart contracts, the entire property management process, from signing lease agreements to managing cash flow to filing maintenance requests, can be conducted in a secure and transparent manner. In residential real estate, for example, a landlord and tenant could digitally sign a smart contract agreement that includes information such as rental value, payment frequency, and details of both the tenant and property. Based on the agreed upon terms, the smart contract could automatically initiate lease payments from the tenant to the landlord, as well as to any contractors that perform periodic maintenance. Upon termination of the lease, the smart contract could also be set to automatically send payment of the security deposit back to the tenant. One business developing a blockchain-based property management system is Midasium. The company has built a private blockchain to execute smart contracts. This allows traditional contracts, such as mortgage agreements and tenancy contracts, to be brought onto a blockchain to establish a history of agreements and financial transactions that can be traced and audited.  

Creating a tenancy contract with Midasium. Source: Midasium All data, except for public information like property location, is confidential and encrypted. The intended goal is a reduction in legal, accounting, and transaction costs, as well as a decreased risk of fraud and corruption. AQUA is another enterprise that offers a blockchain-based property management system, except its application is specifically for hotel and resort management. The AQUA PMS application is a blockchain platform designed for inventory management, task management, and maintenance management. The service is seeking to help customers reduce operational costs and response times. AQUA PMS is currently being used by Hilton Worldwide. TITLE MANAGEMENT At present, property titles are often paper-based, creating opportunities for errors and fraud. Title professionals find defects in 25% of all titles during the transaction process, according to the American Land Title Association. Any identified defect makes it illegal to transfer a property title to a buyer until it is rectified. This means property owners often incur high legal fees to ensure authenticity and accuracy of their property titles. Moreover, title fraud poses a risk to homeowners worldwide. US losses associated with title fraud reportedly averaged around $103,000 per case in 2015, compelling many property buyers to purchase title insurance. These title management issues could potentially be mitigated by using blockchain technology to build immutable digital records of land titles. This approach could simplify property title management, making it more transparent and helping to reduce the risk of title fraud and the need for additional insurance. Some companies and governments around the globe have already implemented blockchain technology for the title management process. For example, blockchain startup Ubitquity offers a platform for land titles to be stored on a public blockchain, where they could be less susceptible to theft, corruption, damage, or fraud. In 2017, the company partnered with the Brazilian Cartorio de Registro de Imoveis (Real Estate Registry) to establish pilot programs.

Source: Ubitquity  Ghanaian blockchain company Bitland has been working on a similar solution for Ghana, where it is estimated that almost 80% of land is unregistered, according to Forbes. Those that possess unregistered land find it more difficult to prove legal ownership, increasing their exposure to the risk of land seizures or property theft. Bitland is seeking to create secure digital public records of ownership on its blockchain platform, with the aim of protecting land owners from title fraud. Bitland has expanded to operate in 7 African nations, India, and is also working with Native Americans in the US. Real estate giant RE/MAX has also been exploring blockchain use cases. RE/MAX partnered with blockchain company XYO Network to explore using blockchain technology to build a decentralized online land title registry in Mexico. XYO Network’s first project with RE/MAX involves tying location coordinates to unique digital tokens that represent land titles. As a property changes owners so will the digital token (with the transaction being recorded on a blockchain), establishing a transparent history of land ownership. SafeChain is another enterprise leveraging blockchain technology in the title management space. The company helps title agents verify client identities, bank account ownership, and securely transfer wire information. Its platform seeks to reduce losses from fraud and bring down operational costs. FINANCING AND PAYMENTS SYSTEMS Due to the extensive documentation required and the involvement of various intermediaries, existing modes of financing and payments for property transactions are currently slow, expensive, and opaque. These issues are especially pronounced when a property is financed through a mortgage and when international transactions are required. The current process for mortgage approval for residential properties takes on average around 30-60 days to complete, according to the National Association of Realtors. For commercial real estate — which is more complex to process than residential real estate — the time it takes to get approved can be even longer, often requiring around 90 days. This process could be simplified and made more transparent when blockchain technology is applied. For example, verifiable digital identities for properties could allow a reduction in both due diligence and loan documentation time, thus speeding up the mortgage approval process.

Source: Blockchain Technology Labs  The borrower and lender could also use blockchain technology to execute an immutable smart contract-based loan document, fully accessible by all legal parties involved. Adoption of blockchain technology could save the US mortgage loan industry up to 20% in expenses per year, according to a report published by Moody’s Investor Service, which would amount to $1.7B in annual savings. ShelterZoom is a startup aiming to streamline real estate transactions by putting all the processes on the Ethereum blockchain. Real estate agents, buyers, sellers, and renters can view offers and acceptances on the platform, which also allows access to property titles, mortgages, legal documents, and home inspection reports. ShelterZoom has partnered with over 90 brokerages around the world, including RE/MAX Revolution in Boston, Massachusetts. The platform is scheduled to go live in 2019.

ShelterZoom’s platform. Source: ShelterZoom While there are many blockchain-based payment solutions out there, one of the most established is Ripple. Ripple connects banks and payment providers on RippleNet, its private blockchain, seeking to provide a payment platform for transferring money globally.

Source: Ripple One use case for Ripple is facilitating cross-border real estate payments. All parties involved in a real estate transaction can be connected on an online platform, view past transactions between parties, and make payments. Ripple claims that its approach allows transactions to be secure, quick, and low cost — a compelling proposition compared to the high fees and multi-day wait associated with traditional international payment systems. REAL ESTATE INVESTING Real estate investing has historically only been available to those able to put down large sums of capital — especially in regard to commercial property and multifamily housing. Additionally, real estate investing often involves expensive intermediaries such as fund managers, further raising the barrier to entry. However, blockchain technology it looking to disrupt real estate investing by providing a way to decentralize the process through crowdsourcing and tokenization. Tokenizing real estate assets refers to a process in which a property owner can offer digital tokens that represent a share of their property. Using a blockchain to track these investments, with each transaction being time-stamped and immutable, makes it possible to limit the risk of fraud. This approach makes it easier to establish a market for property “micro-shares,” creating the potential for a property to effectively have numerous co-owners with a stake in potential returns. There are many blockchain-based real estate investment platforms that currently exist, though most are still in the development phase. One that is more established is BitofProperty. The Singapore-based company has built a blockchain-based crowdfunding platform that allows users to invest in both residential and commercial rental properties. Users receive monthly income from the properties they have invested in.

Properties listed on BitofProperty. Source: BitofProperty Another example is Brickblock, a smart contract platform which  is seeking to use tokenized real estate to help developers raise capital for projects. Brickblock has received almost $6M in funding from Finch Capital and has several partnerships, including with JTC Group, solarisBank, and Peakside Capital. The platform has not yet gone live to the public. Challenges While blockchain technology could help solve many problems within the real estate industry, there are always challenges that come along with transitioning to an emerging technology that has not yet fully matured. It is important to note that blockchain technology is still in its early stages, and full adoption across the real estate industry comes with its own set of challenges. REGULATION Navigating complex regional regulations around the globe is a key issue that faces the adoption of any new technology, blockchain-based platforms included.

Source: Lisk For example, some blockchain-based real estate investment platforms do not allow investors from the United States to participate because the relevant regulations tend to be strict and cause additional administrative overhead for the sale and trade of tokens. It is therefore easier for these platforms to simply prohibit Americans from participating, even with the loss of a huge market of potential investors. Moreover, not all states and countries recognize smart contracts as legally binding, which poses a huge threat to parties that may not be aware of this — especially when it comes to contracts representing sizable investments like properties and titles. The regulatory hurdles that come along with blockchain technology are holding many enterprises back from adoption. Though some movement is taking place in this area. Arizona Governor Doug Ducey signed a bill into law in March 2017 that made smart contracts legally binding. As of October 2018, 17 US state legislatures have either passed or are considering laws related to blockchain adoption, according to Deloitte. It is likely this trend will continue to spread across the US and the world. SCALING In the real estate industry, there are millions, if not billions, of global transactions made every year. This requires networks that can handle large transaction volumes quickly and efficiently. However, Ethereum can only currently handle about 15 transactions per second, and Bitcoin only around 5 transactions. In comparison, Visa claims it can process over 24,000 transactions every second. A transaction bottleneck would pose a major issue for large-scale real estate enterprises that require ultra-fast processing times. However, Ripple has claimed that its XRP token could theoretically process around 50,000 transactions per second — roughly double the amount of Visa. The blockchain startup has also stated that it already processes up to 1,500 XRP transactions per second, indicating that slow transaction speeds are not necessarily inherent to the blockchain approach and may dramatically improve over time.

Source: Ripple INTEROPERABILITY Many different blockchains exist, and most of them are unable to communicate or work with one another. This lack of standardization, or interoperability, is a challenge in the blockchain sphere as a whole. A rental company, for example, may wish to use the public Ethereum blockchain to execute lease contracts, but would prefer to keep tenant data and rent rolls on a private blockchain. Or an enterprise may begin using one blockchain solution, and later find a better solution for their needs and decide to migrate. To keep the past transaction histories protected, the second blockchain would need a way to reference the first blockchain — and this is currently not possible due to lack of interoperability. There are a number of organizations working to solve this challenge, including Interledger, which aims to create a protocol for enabling payments between blockchain networks. A solution to enable cross-blockchain transactions would be beneficial, but blockchain platforms may have to introduce shared standards to fully address the interoperability issue.

Source: Interledger WIDESPREAD ADOPTION As blockchain is still an emerging technology, most people still don’t fully understand what it is, how it works, and what its uses are. Widespread adoption of blockchain technology is still some way off,  especially as many industries have yet to fully explore its potential applicability. In the real estate industry, it could be a while before a majority of businesses feel confident enough in blockchain technology’s capabilities to adopt it for day-to-day operations. Until then, early adopters may find themselves with an advantage over those that lag behind, potentially creating opportunities to intensify competition and for new industry trailblazers to emerge. Conclusion There is a long road ahead before blockchain technology reaches maturity. Companies are still experimenting with its applications, and many issues remain to be addressed as the general public continues to learn how to use and understand the decentralized technology. Moreover, blockchain technology must overcome the somewhat negative image it has gained from speculative cryptocurrency bubbles, with some projects amounting to thinly-veiled get-rich-quick schemes or even outright fraud. Yet, it is clear that this emerging technology has the potential to disrupt many industries, including real estate. With industry leaders and governments exploring and implementing blockchain applications in the real estate space, it’s possible that this old industry may be one of the first to make the leap into a decentralized digital world. Read more https://global.goreds.today/real-estate-will-technology-replace-the-real-estate-profession/   Read the full article