Cost Benefits Through Assessment in Technology of Business Organizations

Over the period of 10 years, a leading healthcare solution provider had been through merger and acquisition cycles integrating the offerings of the companies acquired into their line of business. Although, this garnered their business value offerings to the customers and broadened their market reach, it internally led to a disparate array of backend data sources ranging across: MS-Access, Oracle, SQL Server, etc. Similarly for the front end reporting needs, client uses multiple tools i.e. Power Builder, MS – Assess, Cognos and SAS.

Business Need

The key business challenges were:

• The current Data warehouse solution needs to be evaluated and re-architected, considering past and future business requirements.

• Currently, there are several resources that are focused in generating reports for various customers of client. Due to the current data warehouse design, disparate data sources and other unknown technical dependencies, time taken by these analysts is significant to generate the reports, thereby increasing the cost of conducting business.

• The usage of current BI/ DWH tools need to be evaluated and if required to be consolidated.

5 Keys to Success in Living a Business

The Home Business industry is a multi-billion dollar industry, but unfortunately the vast majority of people (more than 95%) never achieve any level of success with it.

Why?

Because they don’t know the 6 keys to home business success, and they give up before they see results.

So many people get started in this industry with the vision of creating massive residual income by telling 5, who tell 5 who tell 5 and they all live happily ever after. Unfortunately, they tell 5, who tell them where to go, and for most people that’s enough rejection to make them throw in the towel and give up all together.

Very few people have the fortitude to hear no as next and keep persisting.

And even the few who do persist still won’t see the kind of results they want because the system they’ve plugged into is missing one or more of the 6 keys to home business success.

What Are The 6 Keys To Home Business Success?
I haven’t been in this industry for decades like many of my mentors have, although I’ve seen enough

Financial Mistakes to Avoid in Small Businesses, in order to Become a Big Business

All Entrepreneurs and individuals who have been running a small business know that it is a consuming affair. Sometimes they are so engrossed with a bigger vision that they fail to check their mistakes that they have committed in the course of time. Especially, when it comes to their financial options, most of the entrepreneurs fail to break their financial options. So here are some points that you should check to avoid financing mistake that can occur in the course of business.

Poor research or not conducting proper research

Most of the small business owners seek for startup loans to finance their business ideas. But while doing so, it has been seen that some of them do not conduct a research on all the loan options. Today, there are thousands of loan programs that are available in the market. To a person who is searching for a loan, procuring quick cash could be very luring and may cloud his ability to refine the options available to him. Regardless how tempting the option is you should avoid not looking into the detailed picture of the option. You should

Place of Entrepreneurship Competence in Business Success and National Development

The pivotal position occupied by entrepreneurship as a sustainable tool for rapid economic growth and development of a country cannot be over emphasized. This is evident in several available literatures written by scholars on the subject matter but a closer examination of these literatures show tilted emphasis and concentrations on some common areas relating to entrepreneurship.

Increasing competitions, rapid and constant changes in internal and external environment of business activities, and the significant influence of Small and Medium Scale Enterprises (SMEs) on the economy generally have resulted in a growing interest in studying the role of factors stimulating successful entrepreneurship, business success and national development.

Though, entrepreneurship, have played and can play more of these positive roles, is not an easy vocation as it does not always guarantee a hundred per cent triumph. There are several critical areas of knowledge and factors that must be acquired and put in place to enable entrepreneurs achieve a measure of business success and consequently contributing to national development.

Several researches have been conducted in areas of entrepreneurship competency, entrepreneurship success and national development.

Most literatures relating to entrepreneurship and entrepreneurship success tend to unquestionably argue that most

6 Steps to Selling a Profitable Business

70 percent of all businesses listed for sale never see an exchange of hands. That means out of 10, only about three sell.

This can be a depressing statistic if you are thinking about selling your business. But crossing the bridge from those that fail to those that successfully make the sale, is not a matter of chance.

It is a result of careful thought and thorough preparation.

There are specific steps to selling a business that you should take, and how well you do at each stage determines the likelihood of making that sale.

Here are 7 steps to selling a business that you should take.

1. Preparation

When it comes to selling a business, the preparation starts even two years before the actual listing. You have to make sure all your records are in place and are actually attractive. This means dealing with any damaging tax and legal issues, settling all debts that may make your business look bad and all your books are in a healthy condition.

2. Fine Tune Your Business System

Before listing your business, make sure your business machine is well oiled and in

5 Stage Process to Maximize Business Profits

Every business works with the aim of earning profits and this can be achieved by taking the right business decisions. Business leaders take innumerable decisions that influence the work in various ways. However, the ultimate goal is to make the decisions effective enough in order to carve the path of profit for the organizations. Hence, successful implementation of plans is the foremost need of every business and Business Intelligence proves helpful in this context. Let’s get an insight to Business Intelligence and its components:

Business Intelligence:

Business Intelligence plays a primary role while implementing strategies and the right planning procedures. BI technology assists its users in gathering, storing, accessing, and analyzing the data. The set of applications covered under Business Intelligence allows the companies in effective implementation of Decision Support System, applying Online Analytical Processing (OLAP) concepts, Statistical Analysis, Forecasting, and Data Mining.

Business Intelligence serves in sending the information to the right decision makers at the right time. BI is preferred by lot of users, as it leads them in reaching the facts based on conclusion or more commonly known as ‘single version of the truth’. This gives the best end product and leads

Having a Home Based Business

Owning a home-based business can be a fun and exciting experience. It can also be a difficult and challenging type of business to find success in. It can be very lucrative or it can be very stressful in addition to a complete loss of money!

In this review we will look at the advantages and disadvantages of owning and operating a business like this as well as if it is a good idea to do or not. If you are interested in making a substantial amount of income working for yourself, it could be a terrific idea. However, if you are interested in making a steady paycheck working under someone else to make their dream come true, you may want to stay away from owning and building a Home-Based Business.

The Advantages

There are tons of advantages to starting, owning, and building your own business from home. Advantages include job security, financial freedom, being your own boss, less risk, more opportunities and much more!

    1. Job Security: The problem with a traditional job is there isn’t any job security. At any second, that job could end. Even if you work for a

7 New Year’s Resolutions for your Online Business

At the beginning of a new year we tend to contemplate our lives and try to find a way to improve our situation. We set goals and make a promise to ourselves to achieve these goals.

The same should be done with our business. We need to take some time to look over the last year to see how we can improve our business performance. What goals can we set for our business that will result in growth and improved results?

Here are some New Year’s resolution ideas for your online business growth and success.

1. Refine Your Social Media – Social media is a very important marketing tactic for today’s online business but it can be very time-consuming. You need to set a schedule for your social media participation. Use tools like Hootsuite, Buffer and TweetDeck. They can help you free up time that is needed for other tasks. Allow so much time per day for your social media activity. These sites can become addictive and can cause us to neglect other areas of our marketing and business management.

2. Learn New Skills – The many areas and facets of owning and running an online business can be very overwhelming. The techniques, tools

What Makes Your Business Successful?

As a business owner, you’re probably running into all sorts of issues when it comes to how to run and manage your business. These issues all have to do with ethics and what you know that you should do to insure that the business meets the wants and needs of your customers. However, sometimes, it isn’t as clear and concrete as we would like for it to be and if that’s the case, more often than not, we end up doing things without realizing that we’re actually hurting our businesses.

Many business owners get tricked into doing things that are for the better sake of the word, not too ethical. However, the lines between being honest and ethical are blurred and that’s when many misunderstandings happen and things can get out of hand very quickly if you’re not watchful and observant. That is why as a business owner, it is up to you to make sure that the practices that you have in your business are honest and ethical at all times.

Again, this is easier said than done because of the fact that if the business has many moving parts, then that also means

Preventing Identity Theft as a Successful Business Owner

However, in a new twist of events, consumers are no longer the only people affected by identity thieves, as businesses have now become prone to the development in the criminal enterprise of business identity theft with quite a number of businesses losing a lot of revenue in the process. What usually happen is that, a criminal will hijack the identity of a particular business and use it to establish a string of credit with banks and other lenders.

This in turn leads to a damage that can be very devastating to the victim’s business. A business could risk having a spoilt credit history therefore raising the chances of being denied credit, a move that will definitely paralyze your operations. Anyone looking to protect their businesses from identity thieves should ensure they have good privacy protection system.

After a number of businesses reported huge losses due to this, many business owners have turned to seeking help on how to keep their businesses safe from the business identity thieves. Some effective guides have been put in place to ensure consumers and the businesses are thoroughly combating the menace to avoid and reduce the threats businesses face from identity

Online Business Directory, Is it Useful for Local Businesses?

1.) Online business directories are very beneficial for small businesses. You just have to know how they work.

An online business directory is a website submission service that allows your small business’s website to be added to a specific category where it can be searched for by interested visitors. These searchable online directories allow their visitors to search for websites and businesses that they find interesting or that they want to learn more about. Listing your small business on an online directory increases your website’s visibility on the web and helps to create inbound links to your business’ website. Online directories make it easy for people to find what they are looking for. All they have to do is jump online, which means that people could find your business’ website from their home, office or even while traveling.

2.) Want to know how online business directories work?

The concept of online directories is actually a pretty simple one. Online directories are very similar to the printed Yellow Pages in the real world, only these listings are only online. (Actually Yellow Pages.com is now also one of the biggest online directories as well.)

An online

The Power of Online Business Directories

More and more small businesses today are using online business directories to their benefit. If you run a small business, you likely spend a great deal of your time thinking about your marketing plan. online business directories can be a great addition to your current small business marketing strategy. Those sites can help your small business expand its website traffic, increase the likelihood that your website will be found by interested visitors and increase your bottom line. If you haven’t taken a look at those directories and considered how your small business could use them to increase its market presence, then now is the time to start!

What Are Online Business Directories?

There are many different types of online business directories available on the Internet. Each of these sites serves a specific purpose and can be used by your small business in specific ways.

An online business directory is a website submission service that allows your small business’ website to be added to a specific category where it can be searched for by interested visitors. Listing your small business on an online business directory increases your website’s visibility on the web and helps to create

How Visionary Business Leaders Implement Their Strategy?

For leaders to succeed, they must have a vision. Visionary leaders must have the ability to envision their desired future and have the capability to take action in order to execute what they have planned within their home business blueprint. Leaders who do not have a vision are incapable of bringing development to themselves or provide business coaching to those surrounding them. Visionary leaders know the best time to sit back and wait instead of making spontaneous, hasty decisions that may have a negative impact to themselves or those in society. They understand that even though it is important to take action and work toward reaching their goals, acting blindly without considering the welfare of the society brings more harm than good.

It is common among leaders to have the following characteristics:

Visionary Leaders Work with the Team

Leaders realize and know the benefits of teamwork and co-operation. They realize that in order for to achieve a goal, they must work together. They must coincide when executing their home business blueprint, provide business coaching to those in need and continue to stay positive-even when things are not going their way. These visionaries are supportive of

Simple Business

Business is simple, so simple! However, when Man brings his complication into business operation and practice, failure becomes commonplace! There’s a misleading theory widespread in the secular world, the consequence of a theory established by so-called business experts deluded by satanic insight in the marketplace of the world.

According to this theory, world’s leading business and investment organizations like Bloomberg theorize that 8 out of 10 entrepreneurs who start businesses fail within the first 18 months – a whopping 80% failure rate. According to CNBC, the number of small-business failures exceeded the number of start-ups for the first time in the year (2014). While 400,000 new businesses are being created annually, 470,000 are closing, leaving a deficit of 70,000, according to the U.S. Census Bureau. According to the Small Business Association (SBA), 30% of new businesses fail during the first two years of being open, 50% during the first five years and 66% during the first 10. The SBA goes on to state that only 25% make it to 15 years or more.

However, what these pretenders failed to tell you – perhaps they don’t understand themselves – is that it is not the businesses that

Business Management, The Three Most Important Rows in the Balance Sheet

After surviving the initial 18 to 24 months in business, you have graduated into the growth phase. During this business cycle phase, you have become accustomed to the various business models (i.e. revenue model, operations model, sales model, etc.) it takes to run your business effectively. You have progressed in learning to manage your business from a financial statement analysis perspective. The hectic activity of starting up the business and maintaining momentum in the market have become second nature to you. You’re guided into making strategic decisions based on the information provided by the business’s financial statements especially the balance sheet. In order to employ effective business management strategies, you must have a fundamental understanding of the 3 most important lines on the balance sheet: cash, total liabilities, and retained earnings.

Number One: Cash
An old saying states, ‘He who has the most gold, makes the rules!!!’. Sure, we know when the bank account is a consistently low for the business, thoughts begin to loom in your mind about potential failure and subsequent bankruptcy. Before reaching this extreme, you must proactively study the business cash trend on a monthly and weekly basis. This level of

Why Hire a Certified Business Opportunity When Selling Your Business?

5 Reasons to use a Certified Business Broker?

On average, selling a business can take between 6 to 9 months. Here is a list of 5 reasons why using a Certified Business Broker will greatly benefit the seller when selling their business.

1. Maintain Strict Confidentiality.

Strict confidentiality is imperative when selling a business. When a business owner decides to sell a business, there is a risk of losing key clients, vendors and/or employees if word of the sale gets out. We have all potential buyers sign a Non-Disclosure/Confidentiality Agreement before we release any information about the business. We will also find out more about the buyer’s financial ability and his business acumen before releasing any confidential information. Brokers will also shield owners from being inundated with lookie-loos or callers trying to suss out information.

2. Let the Owner Run His Company.

It is imperative that the business owner continues to run the business at the highest level possible and to continue an upward trend of the revenues or they will risk a decline in the final sale price. There are hundreds of variables in selling a business and it’s the Broker’s job

Toolkit for Starting a Home Business

This Toolkit for your Start-up Home Business outlines all the basic guidelines you will need to get your home business up and running. The goal is to ensure that you have all the relevant information and a structured approach in getting your business off the ground as soon as possible.

Step #1 – Determine what type of business you want to get into.

Business ideas and suggestions may come from many sources. You may have some ideas of your own based on your passion or you may recognize that there is a need based of discussions you have with others. A case in point, I recall when my children were younger we needed transport to pick them up from school (there was no school bus service). After discussing with a friend, he assisted us with picking up the children, and soon realized that there was a demand for such a service. There and then his new business was born.

Step #2 – Research the business idea

In the school transportation service example given above, my friend conducted an informal survey by speaking with other parents, he was quickly able to determine the demand for

6 Challenges Facing Successful Business Owners

Having spent the last few weeks meeting with and chatting to small business owners around Essex, it became clear that they all seem to face similar challenges on a day-to-day basis.

As I expected, they are all time poor and there was an ongoing sense from these company owners or directors that they should be ‘hands on’ and across every facet of their business. But, as they told me, they may know all about their business but sometimes they need expert support and guidance to ensure their company grows and increases profitability.

Some of the challenges they faced included:

Customers
Customers are at the heart of any business. Without customers and the revenue generated then the business becomes just a good idea. One of the main challenges they faced was how to attract, retain and maximise their customers?

For me, the key to winning new business and ensuring customer retention is providing not only great products or services but adding a great customer service experience. A strategy needs to be developed for ensuring this customer growth and maximizing revenues from existing customers.

Marketing
Many business owners are not marketing experts and need

Home Business Owners Confront When They Start a Home Business

If you have made up your mind and you are 100% certain about starting a home business, then you might have in mind what product or service you want to market. You should also know that for the first two years you will be devoted to making your business grow. If you are willing to take a huge risk such as this, you will need to be motivated, determined and confident. There are numerous obstacles that you could run into if you don’t take the necessary precautions.

To work your way through the start-up of your business you will need to take the following steps

SWOT analysis (Strengths, Weaknesses, Opportunities and Threats). By knowing and using this method, you will be aware of what competition you are facing, where your business can grow, and you will get a better understanding of the business market.

Form a business plan. Forming a business plan can be overwhelming and slightly confusing. A business plan should include the audience that will be looking at your plan, an outline of the business plan, a collection of research and data, a general abstract of the market, an inquiry profile, finances, and

What It Takes to Create a Winning Business Award

14 Strategies We Attribute to Our Recent Business Excellence Award

Out of the blue, I received an email from the Abbotsford Chamber of Commerce one day notifying me that we were nominated for a 2016 Business Excellence award.

Say what?

Once I got past my shock and disbelief that they must have the wrong Susan… it began to sink in that someone out there thought we were worthy enough of this nomination. Wow, what an honour!

Part of the nomination process consisted of a 30-minute interview in front of a 3-judge panel. Imagine being forced to actually brag about yourself for a half an hour! Talk about squirming in my seat!

Fast forward to last week where the awards ceremony took place. Much to my relief, our category was up first so I could relax the rest of the evening.

To be honest, I wasn’t all that anxious – I knew the odds of winning was only 1 in 7 so I waited patiently for the winner’s name to be announced, not at all expecting it to be us.

But it was! We were declared the winner!

Say WHAT???