Monthly Archive: May 2017

Cash Flow For Small Businesses

Cash management and the management of operating liquidity are important for the survival of any business. You can be making a profit, but still have problems with cash flow. Start-ups and small businesses have traditionally had difficulty raising capital through outside sources and, for new companies, the chances of getting a bank loan is close to zero. Most banks today won’t even consider lines of credit or loans for companies that have been in business less than 3-5 years. Start-ups haven’t built up adequate credit history and banks are just not willing to give money to companies with no credit history. Without proper cash flow, it is difficult for a small business to maintain payroll and pay its bills. This is why, as a business owner, it is important for you to understand all about invoice factoring.

Invoice factoring enables small businesses to obtain the cash necessary to keep the company running by getting the money they need without having to go to a bank for a loan or take on additional debt. What they can do instead is sell their receivables at a discounted rate to a factoring company. Factoring companies pay cash for the invoices and handle the collection process.

A factoring company usually pays 70 percent to 90 percent of the total invoices. Then, after collecting the invoices, the factoring company returns them to the small business owner. For this service the small business will pay a fee of 1.5 percent to 3.5 percent of the total invoices.

Factoring can be a great option for companies that need money quickly, but who aren’t able to secure a conventional bank loan. The seller gets the capital that they want or need and the factor is able to make money by charging the seller a discount fee on the invoice. A good factoring company will research the credit history of the seller’s customers prior to purchasing the invoices. They will want to be confident that these companies have a history of paying their bills.

Factoring is a way for companies to infuse cash into their business without taking on additional debt. By selling their accounts receivables at a discount, they can get money right away without having to wait to collect it themselves. In exchange, the factor is able to make money on the invoices by charging the company a discount fee for their services. One company gets the money they need to continue operating and/or grow their business, while another one has the opportunity to make money by helping businesses grow and prosper.

IT Staffing Solutions Offered by Consultancies

“Change is the only constant” many firms, organizations and businesses are looking for a change something extra, some additional services, which will boost up their business. There are many IT consulting company and firms which offers services to the clients that is “IT staffing services”. The most skillful and tactful task of a manager is ‘staffing’ which includes various tasks like– Determining the HR department (human resources), the need, abilities, skills that concern roles and tasks of a job- Considering outsource to hire outside expertise- Screening job candidates- Selecting candidates- Equipping new hires through assignments, facilities and trainingThese are the objectives and skills a manager should carry. Therefore, staffing should be done very carefully.

IT staffing services and lifecycle solutions enables clients in hiring experienced and qualified staffs, to suit their business requirements and working proficiently for their business. These services helps a client in accomplishing seasonal and special tasks without even adding permanent staffs.Small or midsized organizations does not need to worry to go through the financially time taking tasks of setting up an offshore office and then there are many firms which can solve their problems, their IT requirements by IT staffing solutions, which will harvest growth and development to clients business.There are basically three IT staffing services, which clients can avail-

1. Temporary staffing service2. Long term staffing or project staffing service3. Temporary to permanent or contract to hire staffing services

Temporary staffing services- To meet the short term needs of an organization many IT consulting company offers temporary staffing services. The service helps in business, firms to fill in for vacant positions or when there is heavy work load and pressure. Organizations are helped in meeting the business targets and challenges with minimal use of human resource development, recruitments etc. The immense time management involved in temporary staffing makes it reliable alternative to permanent employment.

Long term staffing or project staffing service- This staffing service, directs employees in long term appointments, where no precise time period is involved. There is requirement of long term staffing in professional and technical field, where applicants are required depending on project to project terms. There is a boon, profit in the organization if the applicants are hired on a project basis form than permanent basis.

Temporary to permanent or contract to hire staffing service- Temporary to permanent is a merger of staffing solutions that includes permanent and temporary. The service is offered to the clients to take an applicant/ employee on a temporary basis for work and if the employee/ applicant is successful in meeting the terms and conditions of the project, the employee will be further adjusted in payroll that is making the employee permanent.These are the three services offered by the IT consulting company for clients, which helps in time management and cost effective formulas.

Possibilities For Small And Big Vendors

These days’ small and big vendors are on a par when it comes to marketing opportunities, business visibility and improved sales. While the larger company probably has larger overheads and in turn needs more sales to succeed, the success rates can be the same if they take advantage of the tools and possibilities available to them.

Every business needs a website and online exposure in order to survive in the current market. Customers don’t head to shops and stores anymore, they use their home computers, laptops, tablets and even smartphones to find the most affordable price and purchase the item or service online and have it delivered to their door.

If you have a shop, you still need a website in order to be competitive in your sector and have a chance at success.

Expand Globally

One of the possibilities for any size business is the opportunity to sell globally. This has opened up so many possibilities, increasing the size of your target audience and in turn, improving your sales turnover.

Whether you are a large business that sells through your own website or you are a smaller vendor that sells through an online auction site, you can sell to anywhere in the world in order to achieve success.

Take Advantage of Online Marketing Tools

When it comes to online marketing, the doors open and you have so many possibilities to take advantage of.

There are the free tools which you can use to your advantage, such as blogs, video blogs and social media. Bear in mind that these need regular updates and can take some time before they start showing results, but in the end they are worth the effort. You will need to set time aside each week to concentrate on your online marketing to ensure your venture is visible to your audience.

Using affiliate marketing isn’t free, but it is a very affordable online marketing tool that helps both smaller and larger vendors achieve online success. Using this method gets marketers to do the work for you and you only pay them for the leads or sales generated from their efforts.

Don’t Be Afraid of Failure

Whether you’re just starting a new business or you are trying to promote your current business, you cannot be afraid of failure. Perseverance, persistence and patience are the three things you need to forge ahead.

Take chances in your marketing efforts, try write a blog, start a social media page or take the leap and start using affiliate marketing to see how they offer improved sales results.

Be Flexible

Being flexible can ensure your success. There are many software opportunities where you can keep a close eye on your immediate competition and see what they are up to. Of course competition analysis helps you determine the marketing strategies of other companies in your sector, their sales turnover and any promotional offers they are running.

If you notice your competitor is selling an item slightly less than you, drop your price for a while, build up your client base before increasing the price again.