Business Finance Articles

Your First Financial Choice....

Blog

Different Types of Corporate Financial Reporting

Last Updated on By Leave a Comment

Corporate financial reporting is the system that builds the economic reports of a company. A corporate financial report not only shows the financial statements of a company but also aims to highlight the necessary financial data and furthermore shows the application of financial policies.

The three main and basic targets of financial reporting are as follows:

  1. to provide lenders and investors insights of a company’s financial health
  2. to helps in determining a company’s cash flow
  3. to tracks and analyzes your business’ income and reports it concurrently.

Good financial reporting can take your company to new heights, as it shows the true financial position of a company. If the accountants work efficiently to highlight the company’s weak points, they can be saved from hidden losses.

Corporate financial reporting includes income statement, balance sheet, statement of cash flows, and statement of retained earnings and change of equity.

Income Statement or Profit Loss Statement

One of the three important financial statements is the income statement. The income statement summarizes a company’s revenues and losses over a specified period of time that could either be the end of every month, every six months, or every year, depending on the company’s policies.

Income statements give investors and lenders an estimate about how much a company’s monthly or yearly profits and losses are. Therefore it is also called a profit and loss statement.

It clearly reports a company’s financial performance and consequently gives investors an idea of the profitability and future growth of the company that helps them analyze whether or not to invest in it.

The income statement aims at four things: revenue, expenses, gains, and losses.

Starting with the details of sales down to computing net income, and earnings per share (EPS), the income statement has it all.

Net income= (total revenue+gains) – (total expenses and losses)

Balance Sheet

A balance sheet gives an overview of a company’s finances at the moment. It’s a financial statement that reports a company’s assets, liabilities, and shareholders’ equity during that specific time.

Or you can say it’s a statement that identifies what a company owns and owes, as well as the amount invested by the shareholders. What really matters when someone’s looking to invest in your business is the fact that “Is your current asset subtotal compare to the current liabilities subtotal enough to pay off your short-term obligations/debt?

More debt than listed equity in the balance sheet is clear single that company may dangerously have a high amount of borrowing in the future, therefore it is also known as debt to equity ratio. The former information also helps creditors decide whether lending the additional credit would result in bad debt.

To make it easier for you to understand, let me define some major terms used above in more detail.

Assets

Anything owned by your company that has a dollar value is called an asset. List your asset in cash, or how easily they can be consumed or turned into cash.

A current asset is anything that you plan to convert into cash eventually within a year or so. Current assets include money in a current account, money in transit, accounts receivable, short-term investment, inventory, pre-paid expenses, and cash equivalents.

Long-term assets are the things you don’t plan to convert into cash within a year. Long-term assets include property, machinery and equipment, intangible assets (goodwill, franchise agreement, copyrights, and trademarks), and long-term investments.

Liabilities

Liabilities are the things that your business owes to others.

Assets and liabilities are listed in both the long and current terms. These current liabilities include payable accounts, wages against hours employees have worked, taxes and loans to be paid in the same year.

Whereas non-current or long-term liabilities include loans that you don’t have to pay within twelve months and bonds your company has issued.

Equity

Equity is the money held by your company. It shows what belongs to the corporate owners. Equity is dropped if the owner draws money out of the company to pay themself or when the corporation issues dividends to the shareholders.

Cash flow Statement

A cash flow statement is a financial statement that summarizes the cash or cash equivalent entering or leaving the company in a specific period of time.

Cash flow determines how well a company generates cash to pay off its debt obligations and fulfill its expenses. This way the statement of cash flow reconciles the income statement and balance sheet, serving along as one of the three core financial statements for any corporate.

Statement of cash flow is of utmost importance to both investors and lenders to determine whether to work with your company or not. Because it certainly indicates how financially stable a company is.

The important elements of cash flow statements include,

  • Cash from operating activities
  • Cash from investing activities
  • Cash from financing activities

Supplemental information (disclosure of exchange of significant items that did not involve cash and reports the amount of taxes paid and the interest paid)

Operating Activities

This shows the day-to-day business income and regular expenses in a given period of time such as income from sales and paid receivables. Outflows may include payments to the suppliers, insurance, and company taxes.

Investing activities

Cash flow from investing activities signifies cash generated or spent upon bigger items like the purchase or sale of an asset, real estate, or equipment.

Financing Activities

Cash flow from financing activities is used to finance a business. It is the total amount of funds a company generates in a given period of time. Finance activities include issuance and repayment of equity, issuance, and repayment of the debt, payment of dividends, and capital lease obligations. It shows how a company funds its operations and includes changes in all the accounts of debt and equity.

Statement of Retained Earnings

Retained earnings statement represents the total amount of income your company has generated after dividends are paid to the shareholders. This statement reconciles the beginning and ending retained earnings of a company over a specific period of time.

This statement is further used by analysts to analyze how corporate profits are utilized. Retained earnings are the profits reserved by a company for further investment in future projects if they are already not used in making payment of any debt obligations.

Why Thrissur Should Be The Next Hot Place To Own a Flat in Kerala?

Last Updated on By 1 Comment

Thrissur is the cultural capital of Kerala, the southernmost state of India. Each year a number of people are visiting here to be the part of Thrissur Pooram. Apart from these festivals, Thrissur is famous for its natural richness, culture, resources, and so on. Due to this number of visitors, most of the flats in Thrissur are getting engaged.

Thrissur is also having a huge IT hub, that brings a lot of job seekers to this place. Most people of these IT companies search for the best flats in Thrissur for their stay. As the number of visitors to this place are increasing, it is now becoming the hottest place to own a flat in Kerala.

Some of the reasons for Thrissur getting the hottest place to buy flats in Kerala are discussed below

Luxury

Not every city in Kerala can claim the distinction to have a majority of flats or apartments that provide easy accessibility to the city’s biggest landmarks, attractions, and other utilitarian places. Thrissur is certainly an exception. Investing in apartments in Thrissur means that you are almost always guaranteed a home that is close to the nearest important landmarks.

Cash Flow

Positive cash flow can be assured while buying a property in Thrissur. It is one of the most preferred locations among job seekers. Therefore, if you are buying a property in Thrissur, it’s sure that you will have a continuous cash flow.

Buying & Selling

While buying a new house, you may have the intention to buy and sell. In case you are financially down, you must have to sell the property urgently. So, while buying the property you need to check whether the property is having resale value or not.

If you are buying a flat in Thrissur, then you are safe. Each day the developments in Thrissur are increasing. Thus the resale value of your property will also start increasing.

Investment Returns

The return of investment is the very first thing that comes to your mind while you think of investing in the real estate industry. If the investment doesn’t fetch great returns, it will be of no use.

With a steadily growing district such as Thrissur, it will be absolutely assured that the growing economy of the district will only contribute to the ROI of your property.

When you think of selling the property in the years to come, the price of the property will only increase. In that case, it must be mentioned that the longer you hold on to your investment property, the higher the returns you will get.

Buying a second home for investment is always a better choice as it can be used in different useful ways. You can use the second home for your needs, give for rent, or else you can resell it while you are financially down.

Cultural Environment

In the cultural capital of Kerala, you will get an extra benefit from a rich cultural environment. Thrissur is considered as the land of festivals and celebrations. The Thrissur Pooram brings the whole world to the land. The cultural importance of the district makes it one of the best investment options in Kerala.

Owning a flat in Thrissur can be a good second home to celebrate your holidays. During the festival seasons, the properties at Thrissur are of high demand by visitors or tourists. You can either use it for your needs or rent it.

Pride of Ownership

This cannot be explained in words. If you buy a property in Thrissur, you will able to enjoy the beauty of this place with this proximity. In many situations, having a property in Thrissur is an emotion. 

You can always be of the property in the land of festivals. Due to many reasons, buying a flat in Thrissur will be never a loss. 

The above-mentioned are some of the reasons for Thrissur becoming the hottest place for having a flat.

How Social Media Impacts Brand Building

Last Updated on By 1 Comment

Social media is the most powerful thing that has emerged in recent times. It has given voice to anyone and everyone. It just depends on how you use it and what kind of energy you are spending on it.

Building brand equity used to be a difficult job in Pre-social media times. Now, however, people are so eager for validation that it has become much more comfortable for brands to target their specific market and craft content specifically intended for its niche.

Five ways how Social Media impacts Brand Building

  1. User-Generated Content
  2. Trend Setters
  3. Hashtags
  4. Validation
  5. Stardom syndrome

User-Generated Content

With the advent of social media, everyone has a voice and wants to say something or put their life on social media. Creating content that gets engagement on social media and lets everyone know what you are up to.

For instance, if I go to Rice Bowl, enjoy my meal take a couple of fresh shots, I safely come back home and write a review on the restaurant and publish it on any of my social media.

Tagging not only the restaurant but a multitude of people and hashtags related to writing restaurant reviews. Because that gets you noticed by the social media’s algorithm, and you are ranked higher on the feed page.

Every event we ever go to, we can create content in the form of Tiktok or pictures or snap chat. It is now in the hands of the brand managers to offer such unique opportunities to the consumers to create engaging content such as a photo booth at a festival that is a prevalent idea these days.

Brand managers are focusing on creating Instagram-able events and spaces—a term that didn’t even exist about ten years ago. 

Trend Setters

How many times have we heard on the TV that “Abhinandan” was trending number one or “WelcomeIK” was trending when Prime Minister Imran Khan was on his way back from United Nations.

Because social media has the power to make, anything trend as one of the most popular hashtags around the world. Which makes you and your country and your product stand out. What brand managers take away from this is to find those new hashtags, and the perfect moment when it clicks.

Hashtags

Brand managers are well aware of the trendsetters of the nation, which is why they must hit the iron when it is hot. Keeping their target market in mind creates a new set of hashtags that excite the consumers and urge them to use these hashtags on their content and post to social media.

Hashtags not only promote trends but have a following of their own to which works in your favor as the hashtags boost work to show up more often.

Validation

We crave validation. The GEN-Z craves validation from friends and their social community, which is the way we post on our social media and check up on the number of likes or shares our posts have.

Instagram and some bloggers have recently taken a stance on how such mentality is affecting our mental health, and we are unable to focus on other more essential things in life.

What brands can use in this case is connecting with their audience more engaging with their influencers who use the brand’s hashtag. There are now campaigns where people who capture the picture of the brand’s billboards wins a free entry ticket to their event.

This naturally generates UGC as the consumers capture photos and upload them on their social media platforms using the brand’s hashtags. 

Stardom Syndrome

Everyone wants to be an influencer these days because we have a window to write whatever we can and throw it out into the world. Just because we have a phone with a camera, we can make videos and get up to 5 million followers and become TikTok stars.

This is where the brands comes in as they, the influencers, create tailor-made content or sponsored content for the brands that they work with and get paid for the number of views or number of conversions. 

Final Word

Social media has offered opportunities to many influencers, and brands are more than ready to pounce on the opportunity to make money and tap into the right niche market at the right time.

As the number of influencers grows, so does the number of platforms. And more brands are getting their feet into the game.

What is the Scope of MBA after Engineering?

Last Updated on By 1 Comment

A large number of well-reputed universities receive hundreds of students’ applications for MBA after their Engineering degree on an annual basis. It has become a normal practice that B. E, B. Tech, B.C graduates shift their career to Management Sciences since a decade ago.

In today’s era, where competition for employment has been raised than ever, it’s perceived quite difficult to solely depend on one specialization. It is not only difficult for new grads to get hired quickly but also observed for experienced employees in their career path progression; soon they find it necessary to enroll in the MBA program.

Moreover, the transition of the modern corporate world is not willing to rely on only the traditional set of minds and skills.

MBA is a program where students find opportunities to learn a different aspect of businesses, economy, management, problem-solving, and analytical reasoning.

If an individual opts for an MBA, he will get a better scenario of what will be his/ her career path in the future instead of vague and uncertain information.

Whereas, engineering degree provides you knowledge about technical skills but lacks in organizational and management practices. Due to this, many engineering graduates will have confusion where their career path will lead them.

While selecting an engineering program, most students do not know their interests and future goals and when they join any organization it gets tough to adjust in the office environment. Sooner or later they have to enroll in an MBA degree or a Management course for a better understanding of organizational setup.  

Here you can read the scope or benefits of selecting an MBA after your engineering degree:

Sooner and better Job Opportunities

In the corporate sector, trends have been changed. Daily, the HR department receives the bulk of resumes for current and future vacant positions.

To stand out of crowd, technical and management degrees will build a good impression on a recruiter because there is more focus on multitasking, nowadays.

If you have an MBA along with your engineering degree, the recruiter will gain an idea that you can perform both the technical task and the management task.

In this way, you have a chance to meet person – job fit criteria. 

Career Advancement

It has been observed, an individual who has prior knowledge about the task and can deal under uncertain circumstances can be more confident and productive than a person who knows the task but is unable to deliver according to certain criteria and policies.

Thus, the MBA will make you one step superior to other ordinary individuals and you can easily move forward in your career ladder. Moreover, possessing two degrees opens the door to early promotions, get high paychecks and you can also easily enjoy the benefits of a managerial position.

Broader Career Options

In a business degree, up to date and a wide variety of subjects is offered, which is both general and specialized. These courses are related to each department found in an ideal organization such as Human Resource, Marketing, Finance, Project Management, IT, Personnel Manager, etc.

Thus, an MBA provides you a lot of options to widen your skyline and to move according to the changing dimensions of the world. You have multiple options if you want to enter the banking sector or can be hired as a financial analyst or can take HR as your career.

Better Interpersonal skills

An MBA degree holder knows the importance of interpersonal skills at an organizational level. He/ she will have a better understanding of how to interact, communicate and deal with different individuals of different personalities and mindsets. At the managerial or team level, a person having this skill will better know how to complete the specific task/ project efficiently.

Start your own Business

Yes, you’ve read this correctly. You can also start your own business with an innovative idea and become an entrepreneur. You can earn millions instead of working 9-6 for an employer.

MBA multiplies opportunities and success rates for you. If you have the expertise and have personal or acquired finance, you can easily start your venture and can multiply your profits.

In this way, you can be successful in making your position as a businessman in a corporate division. 

Transition in traditional thinking

MBA is a course with modern and innovative principles. It changes the typical thinking pattern of an ordinary person. During MBA, universities provide much exposure to students to visit different industries, solving case studies and arranging different events, and managing different projects in teams.

Students develop in themselves different soft skills and that is very important if you want to be successful. For instance, learning of different business software, leadership skills, stress handling, communication skills and so forth polish their personality. Students can utilize their thinking capabilities to be productive. 

Networking

Through MBA, you will get many chances to work with industry leaders, professionals, and innovators. With a better understanding of management subjects, you can create good relations with them and in other sense, you can craft your networks.

During your one career path, you want to switch your current company, then these networks or links can be utilized and you can work for them on better compensation packages, designations, and in better working environments. 

MBA saves your Career

During engineering degree, many students soon lose their interest because of trouble in understanding complex and dry subjects. After their degree completion, they remain unemployable.

Moreover, they also face a lack of engineering jobs in the market specifically in some countries or find irrelevant jobs or remain unemployed or leave jobs soon after their joining.

But the MBA can save them from entering and growing in a dry career which they don’t like. They can easily find any managerial job as these jobs are widely available.

Forecasting of Business Market Trend

MBA degree when coupled with experience, you will be able to analyze upcoming industrial moves or changing patterns which will be implemented at the organizational level later on.

So, this compels you to think in a broader aspect rather than gaining just a basic career position. This will make you a prominent, important, and valuable employee of an organization.

Do remember if engineering is a technical degree, then an MBA is a professional degree. Consulting career counselors may bring good outcomes. There is no harm to make a switch if the results are fruitful in the long run. But, before that, you must identify your interest and goals, anticipate if the change is obligatory, and then take a bigger move.  

10 ways to Drastically cut Household Expenses

Last Updated on By 1 Comment

Is it hard for you to cut household expenses? Do you stay worried about how to save money? No need to worry more. This article will provide you with the easy and best ways to reduce expenses. As we all know expenses are increasing day by day.

For many people, it is very difficult to survive within a limited salary and budget. The greatest challenge is to determine, how to utilize your personal finance on the right things, so it would be helpful in saving money.  

Financial management is not only important for businesses but it is equally significant for household expenses. Little financial management on daily basis could lead to bigger results on monthly savings. For that purpose, you are in right place to take some superb ideas about how to drastically cut your household expenses.

10 Highly Effective Approaches

Buy in bulk

Buying in bulk means is to purchase a large quantity of one product at one point which reduces its unit price. Everyone looks for the best product quality at a minimum price. Buying in bulk is the best way to cut household expenses.

When 1 product is purchased it would cost high, but when things are purchased in bulk, it cost much less than usual. Many people prefer to buy in bulk whenever they go shopping e.g. tissue rolls, diapers, batteries, soaps, pasta, detergents, rice, sugar, coffee, clothes, etc.

A huge number of grocery stores offer discounted prices when a person buys a product in bulk -form. Stores like Wal-Mart, Trader Jae’s, 7-Eleven, Kroger, Whole Food Market are a few of its examples.

The second way is to get offers from online stores. For example, Amazon, eBay, Alibaba are some of the popular online selling stores it also gives discounts to its customers when they order products in bulk.

Save Electricity

Turning off unnecessary light, buying efficient appliances which consume less energy, using natural light are very significant methods in minimizing electricity costs.

Installing LED bulbs saves a huge percentage of electricity. Replacing an incandescent bulb with LED bulbs can save energy up to 80% of energy.

According to research, an LED bulb can save about $3 to $5 per year. When there are more than 30-40 bulbs installed in a home it can save you around $100 on yearly basis. Using less electricity will eventually reduce monthly electricity bills and it would help in saving for household expenses.

Spend Less on Hoteling

Food is considered to be one of the largest household expenses. All around the world people invest 20% to 40% expenses on only food. Restaurants and cafes take much higher prices on the food they serve and they also apply government tax on billing.

Reducing the number of hangouts, lunches, and dinners outside can increase savings. If an individual’s dining-out percentage is decreased from every weekend to once or twice a month, it could make a huge difference.

Avail Discount Offers

Availing discount is very self-satisfying for every single individual. There are many kinds of discount offers all around the world. There are Christmas sales, Easter sales, Black Friday sales, summer sales, winter sales, Eid sales, Independence Day sales, clearance sales,s and many more to attract customers. However, it’s marketers trick to boost sales but still helpful.

Utilizing these discounts on clothes, shoes, groceries, electronics, and gadgets is the best way to manage personal finances. Sales/discount offers can vary from brand to brand but on average some offer only 10% discount and some may offer up to 70%.

Purchasing stuff in a buy one gets one free deal is also a perfect saving method. Comparing product prices before buying a product could also help in buying the best quality at a low price. The more people can avail highest sale offers the more it is beneficial for them.

Grow Fruits and Vegetables at home

Growing fruits and vegetables in the home garden is an amazing idea of saving money. Fruits like oranges, mangoes, banana guava, pomegranate, etc., and vegetables like potatoes, peas, cabbage, spring onions, tomatoes, and lemon can be grown at home easily which saves a lot of money in comparison to buying them from grocery stores on market rates. Home gardening is not only best for health, but it is also best for one’s pocket.

Use free Apps for calling/texting

Communicating with people is part of the daily routine. Telecommunication brands have expensive rates not only within the country but also has double triple rates when someone calls across the border. Nowadays every single person uses the mobile phone to contact their relatives, friend, and colleagues.

Using free calling, texting applications like Whatsapp, Skype, Facebook messenger, ToTalk, Botim, etc. are considered to be the easiest and finest way to save money. On a weekly, monthly, and years basis these social interaction application saves $1,000 of customers globally.

Recycle old Stuff

Recycling is a method of making new things out of old. There is no doubt that recycling saves money. In every home there are old & used things which could be recycled into something better.

For example, recycling ice-cream containers can be converted into food storing containers. Plastic bottles could be converted into decoration pieces or stationery holders and tin cans could be used as a jewelry box, old wood pieces could be used in making shoe racks and there are many more things that could be possible.  

Sell used Stuff

Selling things that are no longer required is one of the outstanding ways to make money for household expenses. The idea is to earn profit by selling that used stuff on online applications. For example, reselling an old computer, sofa set, the table would be helpful in earning money from already used things.

For this purpose letgo, Facebook buy & sell groups, offerUp, eBay, varageSale are some of the best online selling applications. Earned money from sold stuff could be used in purchasing other necessary things.

Use Public Transport 

Moving from one place to another using public transport is less costly than using a personal car on daily basis. Public transport offers cheaper traveling rates to the public while on the other hand daily spending on petrol is very much costly. Pick and drop cab applications like Uber, Lyft, Grab, etc. should be widely used as they offer discounts on daily traveling to its customer.

Reduce Insurance Cost

Insurance is a very important thing, whether it is for health, car, or life insurance. Taking insurance that suits a person’s budget is a significant way to save money. Always try your best to find those options which are efficient in reducing insurance premiums.

Conclusion

In a nutshell, household expenses would be easily maintained, if every individual tries his/her best to cut expenses on a personal level. Cutting only 1$ from household expenses on daily basis would save up to 30$ monthly and around 360$ per year. Implementing different money-saving ideas could make big difference in one’s life.

Enhancing Financial Business’s Capabilities with AI tools

Last Updated on By Leave a Comment

Numerous challenges encountered by enterprises often require AI and machine learning solutions. AI tools offer such an amazing feature to enhance organizational capabilities such as automated decision power, boosting predictive analysis, data analysis and data theft detection, cyber threat protection and a lot more.

Why AI tool is the technology of next generation?

In today’s age, all leading organizations deploy AI based tools for their digital transformation. It helps companies in growing their business and marketing their top-notch products. It also helps in hiring the right people, automating company’s finances, increasing customer satisfaction ratio, identifying fraud, detecting cyber intrusion and a lot more.

AI tools enhance businesses productivity by automating the processes. With AI tool, enterprises can customize the solutions specific to a problem that usually human can’t do.

Some Statistics

  • About 84% of marketing companies implemented AI and machine learning enabled products in 2018
  • About 75% of businesses used AI and machine learning solutions to increase customer satisfaction by 10% in 2018
  • Corporate investment in AI was tripled in 2017 and its expected that it will become a $100 billion market by 2025.
  • In 2016, $5 billion investment was recorded in machine learning venture.
  • A recent survey found that about 44% of US customers prefer chatbots rather than humans.

AI Tool For Cybersecurity

Let’s see, how financial businesses and enterprises encountered security threats in past years.

Year 2017

Financial industry has seen a major shift in attacks in past few years. In 2017, attacks on atm machines continued to increase along with fileless malware attacks on banks infrastructure.

Number of end users affected by banking trojans rose up to 767,072.

Around 19% of corporate users were attacked by banking malware.

It affected users around the world including Germany, China, Russia, Brazil, Vietnam and the United states. The most dangerous among banking malware family are Zbot and Gozi that affected 33% and 27.8% of attacked users respectively.

Also in 2017, a large number of end users were attacked by android banking malware in Russia and Australia.

Year 2018

In 2018, financial phishing considerably decreased from 53.8% to 44.7% among all phishing detections. Phishing attacks on Mac users grew up to 57.6%. In 2018, the number of users attacked by Android banking malware increased up to 1,799,891 worldwide.

Most affected countries were Russia, South Africa, and the United States. In 2018, cryptocurrency became a hottest topic that brought the risks of ransomware.

In 2019, financial organizations suffered huge number of attacks, data breaches and data stealth.

Year 2019

Biometric systems were implemented in financial organizations for user identification and authentication and attacks were made on biometric data and hackers leaked several major biometric records.

These biometric records were then used to carry out POC ( proof of concept) attack.

In March 2019, several attempts of DDoS attacks against financial companies were observed. Attackers used TCP SYN-ACK packets that flooded their data centres and damaged their reputation.

Forecasting 2020

Considering the effects of cyberattacks on financial sector in past years, we can predict that in future, cyberattacks will continue to evolve, not only in the financial sector but also in other industries such as health care, retail and government.

Regarding financial organizations, cyber criminals are likely to develop more sophisticated ways to cause monetary losses.

In 2020, we can expect an increase in mobile malware and cloud-based attacks. Insurance companies and banks need to work on their security strategies as current practises are susceptible to vulnerabilities. The industry is likely to witness an increase in DDoS attacks especially banking sector.

In near future, hackers are likely to develop more mature malware to counteract current security mechanisms hence, it is high time to deploy an efficient security system that can ensure protection from all kinds of malware either traditional or advanced.

AI-Enriched Cyber Tool, An Ultimate Solution

An AI-enriched cyber toolprovides a complete solution for financial businesses that enable them to proactively hunt down malware variants and other critical cyber threats that can bypass security layers. Such tools are based on artificial intelligence and provides intrusion detection at all security layers.

From network configuration to digital connections to IoT device configuration, right selection of cyber tool monitors enterprise’s entire network for abnormalities and detects even a tiny behavioural anomaly.

Thus, the tool detects malicious threats in their earliest stages along with regular scans of any suspicious activity across endpoints of the enterprise.

There are numerous cyber tools available in the market offered by multiple companies but only AI-based cyber tool can cater the growing security and performance concerns of financial businesses

What Are The Different Causes Of Stress At Work?

Last Updated on By Leave a Comment

Stress-related to work and workplaces have been a growing problem for a few years. Work-related stress profoundly affects the employees of the workplace. However, it doesn’t only affect their well-being and health; instead, they also affect their productivity and output.

The stress at work happens when the workload of a person exceeds his capacity to cope with that workload. There comes a time when the brain starts giving in to the work pressure, and that creates the deadly case of stress.

Many different things like a person can cause Work-stress might feel pressurized when he is asked to pull overtime for a whole month. It is possible that the employees of a particular company who suffer from work stress might be working more than they should and not getting enough rest to balance the situation.

Another reason can be the co-workers, or tyrannical bosses or maybe constant threats to the job security of a person.

However, one thing is essential while talking about work stress is that not every employee reacts to one situation in the same way. The overtime rule might stress an employee, but another might take it as a challenge. These different reactions depend on a person’s psychology, their general health, their temperament, and their coping abilities.

Apart from these causes of stress at work, there are many other causes which we will discuss below.

20 Different causes of stress at work

  1. A lot of heavy workloads,
  2. Constant changes in the company regarding management or rules,
  3. Longer work hours,
  4. A constant fear of losing the job,
  5. Close and tight deadlines,
  6. Tedious and boring work,
  7. Frequent changes in duties and work,
  8. Being unskilled for a particular job,
  9. Mockery from superiors,
  10. Poor work environment,
  11. Over supervision/ being monitored continuously,
  12. Lack of office resources and equipment,
  13. Less to none opportunities to grow individually,
  14. High discrimination,
  15. Racism and harassment,
  16. A bad relationship with co-workers and bosses,
  17. Office crisis,
  18. Deaths, hold up or robbery at the workplace,
  19. Lack of Self-sufficiency, and
  20. Lack of support from the superior workers.

All these issues and problems are the fundamental and foremost reasons. These issues should be avoided or solved so that the employees could work in peace at the office and give their 100% to their jobs.

5 ways of prevention of stress at the workplace which can be useful for the company

If the head of the office, bosses, all the employees, and other workers work together, they can prevent the stress which happens at the workplace. Here are few of the things which will occur when the stress rate goes down at a workplace;

  1. The people who suffered from stress will have better mental and physical health.
  2. The employees will have less injuries and illnesses due to an improved environment, which will lead to less time waste and more work potential and productivity.
  3. There will be fewer absences and sick leaves due to better health.
  4. The job satisfaction will go overboard and will be great.
  5. The cost used on a stressed employee will be saved.

It is important for the employers as well as for the employees that they recognize the stress, which is present in the workplace. The company should take action to eliminate such issues and instances which lead their employees towards such a dangerous mental illness.

The company as a whole should ensure that all their employees are satisfied with the work environment, and everyone is trained for the job they are hired for.

Being under stress for too long can severely damage a person’s personality and can destroy that person from inside. The employees of a company aren’t just employees or working machines which won’t deteriorate if not provided with a proper work environment.

The employees are the greatest assets of a company, and they should be treated with love and respect and appreciation, they should have a voice and enough freedom to be able to speak up for what is bothering them and putting them under stress.

Digismart Credit Card: Terms & Conditions, Fees & Rates, and common FAQs

Last Updated on By 1 Comment

The Digismart credit card is carved out for everyone who enjoys digital platforms. Whether you are a shopping lover, movie freak, foodie or a wanderer, with Standard Chartered’s Digismart credit card you can avail exclusive offers and discounts at various merchant websites. Digismart credit card offers on flights are also a treat for those who travel quite frequently.

With some exciting features like Kuch Bhi on EMI, Contactless credit card usage facility, and SC mobile banking, you can enhance your experience of using a credit card. Along with the benefits, it is also very important to know the terms and conditions and additional charges that are applicable to the credit card.

This is necessary so as to avoid any sort of confusion related to anything while using the card. Travel around the country without burning a hole in your pocket with Digismart credit cards.

SOURCE: economictimes.in

Key Terms and Conditions of Digismart Credit Card

  • Standard Chartered Bank can remove, replace or change the merchants that are providing offers on the card and the cardholders will be informed about the same.
  • The bank has the rights to discontinue the benefits on the card without declaring any reasons for it. The bank is not obliged to continue the benefits on any cardholder’s request/demand.
  • The bank may revise/change the offers provided by the existing merchants on the card from time to time.
  • The cardholders shall not be awarded any reward points on the expenses of the card.
  • An existing Standard Chartered credit cardholder is not eligible for a Digismart credit card. Any application for the same will be rejected by the bank. The cardholder is advised to go through SC Phone Banking facility for more information.
  • A predefined monthly fee is levied on the card which will be charged regardless of its usage. 
  • Benefits of the card are not transferable to any third party.
  • Taxes and charges payable to the government or any third statutory authority which may arise in the future shall accrue to the sole account of the cardholder.
  • The bank has the authority to change/revise the terms and conditions of the card at any point in time.
  • Cashbacks are receivable by both primary and supplementary cardholders and the same take a processing time of a minimum 60 days.
  • In case of any issues or complaints regarding the benefits on the card, the bank’s decision will be the final one.

Fees & Rates of Digismart Credit card

  • A standard monthly fee of INR 49 is applicable on the credit card which is waived off at minimum spending of INR 5,000.
  • 3% of the amount withdrawn from the card is charged as a Cash Advance fee. The minimum withdrawal amount is 300.
  • In the case of overlimit expenditure, 2.5% of the overlimit amount will be deducted.
  • A mark-up fee of 3.5% will be deducted in case of overseas transactions.
  • Late payment charges of up to INR 800 are applicable on the card. There is no late payment charge applicable on an outstanding bill of INR 100.
  • There is no card replacement fee.

Some Common FAQs

  • How can I apply for a Digismart Credit Card?

You can apply for a Digismart card through the online portal of Standard Chartered bank.

  • What are the offers on domestic flights with Digismart Credit Card?

You can avail credit card offers on flights through Yatra (dot com). You can avail a discount of up to 20% on your domestic flight bookings at Yatra.

  • Can I avail any discount on my cab rides using a Digismart card?

Yes, you can avail upto 15% cashback on your Ola cab bookings. The maximum cashback is limited to INR 600 per month.

  • Is there any offer on international flight bookings?

A 10% discount is available on international flight bookings at Yatra using a Digismart credit card. You can avail this benefit to enjoy credit card offers on flights provided by Standard Chartered.

  • Can I use a Digismart card at any travel agency for flight bookings?

No, you can only avail Digismart credit card offers on flight bookings at Yatra. No discounts or cashbacks are available on bookings through any other travel merchant.

  • Will I get any reward points on my spending through Digismart credit card?

No, the bank does not credit any reward points to the cardholders on the purchases made through the Digismart credit card.

  • Is the discount available for unlimited transactions?

No, the discounts and cashbacks are available for a limited number of transactions per month. Read the terms and conditions carefully.

Digismart credit cards offer discounts and cashbacks on movie tickets, online shopping, online grocery shopping, food orders, cab bookings and flight bookings through online portals of specified merchants.

One can avail credit card offers on flights as well as domestic hotels. For optimum utilisation, one should know and understand the instructions of the bank clearly to avoid any hassles in the future.

Comprehensive Guide to Calculate the CBM & number of Shipments that will fit in an FCL container

Last Updated on By Leave a Comment

FCL(Full Container Load) containers are used for a type of shipment where the entire container is used by one single importer/exporter for shipping his cargo. Although a logistics company helps a person in calculating how many shipments he can fit in his container, it is important for the exporter as well to understand how these calculations are done so that he can plan his shipping more efficiently.

The number of shipments that can be shipped in one FCL container depends upon the capacity of the container and CBM (Cubic Meter) of each cargo. Freight charges also vary upon the size and volume of your cargo.

The more you understand these calculations, the better you can plan your shipment. Click here to know more about FCL shipments and plan your shipping with ease.

CBM of cargo is used to determine how many shipments will fit in an FCL container.

How is CBM calculated?

CBM stands for cubic meter which is defined as the freight volume of a cargo/shipment. The goods are packed in cubicle cartons which is why CBM is used as the measuring unit in freights. It is important in calculating how many shipments can be fitted in one container depending upon the container capacity.

CBM is generally calculated using a very simple – (Length*Width*Height). You can calculate CBM in a few simple steps, they are:

  • Note down the dimensions- length, width and height of your cargo/shipping cartoon.
  • Convert the measurements into metres(m). If the measurement is taken in centimetres, divide by 100. For example, if the length is 2500 cms it will equal to 25 metres. Similarly, if the length is taken in inches, multiply by 0.305. For example, if the length is 250 inches, it will equal to 76.25 metres.
  • In this way, convert measurements of all the three dimensions into metres. Then apply the formula and get the value of CBM.
  • For instance, if the measurements of the three dimensions are given as, length = 75m, width = 35m and height = 25m then CBM will equal to 65,625m.

In this way, the CBM of cargo can be calculated. The calculation is simple and can be done in a few minutes.

How many shipment units can fit in an FCL container?

The cargo containing capacity of an FCL container depends upon the type of FCL container that you choose. There are 3 most popular types of FCL containers that are used by the shippers, they are:

  • 20 Feets FCL containers: The dimension of this container is 20ft*8ft*(8ft 6 inch)
  • 40 Feets FCL containers: The dimensions of this equals to 40ft*8ft*(8ft 6 inch)
  • 40 Feets HC(High Cube) containers: The dimensions of this equals to 40ft*8ft*(9ft 6 inch)

The knowledge of the loading capacity of a container is important so as to make an estimation of the amount of cargo that can be fitted in the container. When it comes to calculating the number of shipments that can be shipped in an FCL container, one needs to understand that it is practically not possible to use every inch of available space of a container.

Usually, as per the human tendency, a person expects to fill every corner of a container to make the optimum use of it as he is paying the price to own it. However, a container’s actual usable capacity is around 80-85% of its maximum capacity value.

Therefore, the exact number of shipments that one can fit in an FCL container depends upon the size of the cargo. The usable space may also vary if the cartoons are not equal in size and shape. Given that, one can make an estimation of how many shipments can be fit by considering the following data:

  • A 20ft FCL container’s usable capacity is 24-28 CBM and the maximum is 33 CBM.
  • A 40ft FCL container’s usable capacity is 56-58 CBM and the maximum is 66 CBM.
  • A 40ft High Cube FCL container’s capacity is 62-28 CBM whereas the maximum is 72 CBM.

Knowing the capacity of a container and the CBM values of your shipments are very important. An FCL container is entirely for you to utilise and when you know the maths related to its loading, you can make the optimum utilisation of the container as well as the money that you pay for it.

FCL containers offer a lot of advantages at reasonable freight charges and it is up to you how you make the most of it.

Your shipments are much safer in FCL containers as you are in charge of it and you have the authority to decide the types of goods you will put in it. You should take help from your logistics company and make the entire shipment cost-effective.

Having the proper knowledge and expert assistance will help you to ship your cargo in a perfect way and make optimum use of the capacity of the containers.

Why is Branding so Important today

Last Updated on By Leave a Comment

To answer this question, we must first understand what branding is? In its simplest definition branding is when a product resonates with your consumer’s psychological value more than its functional value. For instance, Coca Cola is a multi-billion-dollar company despite there being so much controversy around cola drinks.

People still consume it, buy it in bulk during summer seasons and serve it on family dinners. One might wonder why? Because Coca Cola is not just a drink anymore. The brand has a personality and it’s your partner offering you unsurmountable satisfaction as you carry it around and drink it.

In the past couple of years, major companies have found ways to ease their way into the minds of the people who purchase them. It is not just about marketing but about after marketing as well. And making the product or service experience for your consumer that he/she remembers for time to come.

5 reasons why branding is a must for your product/service

Stand apart

In today’s consumers market where there is mushroom growth in all categories and every other corporation is coming up with a plethora of products. One must stand out and isolate itself from the others by creating a distinctive identity that helps it stand apart.

For instance, if you go inside a grocery store and there is Coca Cola and Master Cola in the Cooler, which brand are you more likely to buy? Coca Cola has created its brand personality over a hundred years and has been heavily advertised. It is also well known for making the most stand out ads and the biggest most exciting campaigns throughout the year.

Resonate

Giving your product a brand identity ensures that the consumers resonate with it. It creates a relationship with consumers. The consumers can connect with a brand in an almost human manner and associate their personality traits in the brand’s personality.

Each brand manager these days, establishes a brand personification for their product and ensures that the brand consists of the traits of the target market audience. Only then can the brand resonate with the consumers and target market.

Quality Assurance

Creating a strong brand personality ensures that the brand holds a sacred place in the mind of the consumers. As they can rely on the brand’s name to ensure quality.

Advertising and Quality of the product itself plays a major role in building that perfect image for the brand. That when the consumers go to the market, they pick up Coca Cola as opposed to Master Cola because they can rely on the brand and be sure of the quality assurance.

Impulse buying

In a consumer market like ours, brand managers heavily rely on impulse buying behavior of the consumers. When the consumers go to the hypermarkets, they are heavily influenced by the branding on the aisles and can pick up the product since they are sure about the quality of the product.

Grocery stores rely heavily on impulse buying behaviors by placing the fizzy coolers next to the checking out counter. So that the consumers are unable to resist the urge to grab the product on their way out of the store.

Trust

Brands can garner a relationship of trust with the consumer as the product is known for its good quality. And the consumers tend to put the product on a pedestal in their minds.

Brands can heavily influence consumer behavior by building trust and such a relationship where the consumers can trust the product due to its brand personality.

The brand managers can establish such a strong brand personality that the consumers know that whenever they buy this product it will most certainly be of good quality.

Final Words

Hence, corporations must create a brand personality so that consumers can emotionally connect with the products. And ensure that each product has its own brand identity and the consumers can resonate with it.

By building a strong emotional connection with the consumers the brands are able to identify themselves distinctly among the clutter.

Of course, advertising and consumer experience with the product has a huge role to play in all of this, creating a stand out advertisement and running campaigns that create top of mind and connect with the consumers.