Does ISO 9001 Have an Impact on Financial Performance?

Since its inception in 1987, over a million organizations have obtained ISO 9001 certification. Though, the certification benefited them financially, it’s a known fact that those who obtain the certificate to ensure a robust internal quality management achieve more than those who use it in response to customer pressure or short term benefits. Financial and economic benefits come automatically once the organization implements ISO 9001 quality management principles, such as customer focus, involvement of employees, process approach, and constant improvement.

Importance of the certification

Studies show that organizations with ISO 9001 certificate made inroads into new markets and increased their sales, which eventually enhanced their financial performance.

A certified organization ensures better process management, productivity, and efficiency, which results in customer satisfaction, and certain external benefits automatically follow. However, once a company establishes its credibility in the market, the certificate itself may produce financial benefits, as it indicates that the company is complying with international quality guidelines. Though, the certification has helped companies to increase their sales, it’s largely unknown whether it’s a result of enhanced customer satisfaction or the signaling effect of certification.

Reports suggest that companies that implemented Quality Management System to achieve long term quality improvement have enjoyed more benefits as they are not driven by market demands and are internally motivated to perform better. They implement the underlying principles of quality management on a regular basis and succeed in quality improvement, which yields long term benefits.

External benefits that come with quality improvement include, quality products supplied to customers, an enhanced market share, better services, ability to compete in international market and conformance with their norms, recognition and presence in the market, and new market penetration.

Internal factors

Internal factors that generate financial benefits are increased productivity, effective use of resources and decreased percentage of products failing to meet the criteria, quality-oriented operation, reduction in complaints and redressal management, and employee motivation.

Some of the other benefits, which are not classified as either external or internal, are better documentation, customer perception of higher quality, competitive edge, better organizational communication, increased production effectiveness, and clarity of work. Though, accounts vary as to whether company size is correlated with level of benefits, the companies with ISO 9001 certification had better returns on investments than those who did not have one. Overall organizational improvement and cost-effective processes, such as reduction in cancellation of products owing to poor quality and surplus production eventually translate into financial benefits.

The Benefits Provided By The Microsoft Partner Program

Having access to the right technical platforms and resources is currently vital for building a strong and stable business. Fortunately, it is possible for companies to get many of the things they need by joining the Microsoft partner program. Following are some of the core benefits that participants are guaranteed to have access to along with the advantages that these benefits will supply your growing organization.

Those who participate in this program will have access to a number of cost-effective and highly affordable cloud-based solutions. Technical resources that exist wholly in virtual space are currently very popular. Companies know that these solutions offer an optimal level of security. They also make it much easier to collect, share and access data among other things.

In addition to a variety of cloud-based solutions, partners will also receive an incredible level of cloud support. Should things ever go awry with the systems and solutions they choose, they can get timely assistance in resolving these problems. More importantly, it is additionally possible to get assistance in streamlining and customizing the available platforms so that these are ideally suited to the needs of individual businesses.

One of the most impressive advantages gained by these efforts is the ability to integrate the available knowledge-base in order to gain a far more comprehensive understanding of how the business is performing overall. For many companies, this can lead to lower overhead costs and significantly increased profits. This is because these organizations are able to identify areas of redundancy across their operations that are cost more money without supply any added value.

These entities also have the ability to tighten their supply chains for faster, more efficient operations and higher levels of customer satisfaction. These are widespread improvements that can only be gained by having an all-inclusive view of how an organization is functioning at every level. As partners, businesses can discover key strategies for making better use of the tools and resources that they have already invested in while gaining access to a wealth of innovative and cloud-based solutions that greatly enhance their capabilities.

Opting to participate in this system is one of the best things that a company can do it further its growth, identify and prevent potential problems and implement timely solutions to existing issues. In this way, the costs of participation are guaranteed to fully cover themselves. This is particularly true when considering the massive gains that can be made in short and long-term profits and the savings that can be earned by creating tighter and more efficient supply chains.

Join The SAP partner Community Today

Enterprise software continues to soar in global popularity. From new to existing commercial ventures, there are several tools available to help foster optimal growth and expansion. As an industry leader in burgeoning business technologies, Hitachi is a proud SAP partner that networks with countless companies within the commercial ecosystem.

Based in Germany, this multi-national corporation is synonymous with leading software applications that help drive business operations. These platforms are also designed to expedite client fulfillment, while securing maximum customer relations across the board. With regional offices in over 130 countries, partners have access to a wealth of marketing and application tools.

Hitachi now opens the doors to these lucrative opportunities for all its clients and customers. This is done via connecting existing and potential partners to a suite of strategic campaigns. The latter, of course, revolves around building, marketing, and selling SAP products to meet customer needs and goals.

This includes interactive applications that procure timely results for customers. Whether its infrastructure or client communication issues, these platforms can successfully resolve a myriad of obstacles and hurdles that are hindering performance. At the same time, they help spearhead internal and external changes to remain competitively viable in any industry, sector, or niche.

With strategic allied partnerships, clients get the benefits of two worlds. This includes tapping into the current and burgeoning business trends, while harnessing prove techniques that help establish brand validity and awareness. Businesses are also able to secure higher global visibility, while ensuring their protocols and platforms meet or exceed all criteria.

As a partner, you are able to build a lucrative and profitable business. Clients also tap into a wealth of new opportunities, including cloud based initiatives and mobile marketing. The integration of social and mobile media marketing is essential in marketing these products and solutions to geo specific or mass audiences. In addition, social integration truly establishes a marketing network that can grow to new heights in your respective industry.

As a global leader in new technologies and ICT solutions, Hitachi is always on the pulse of the market. The company also stays abreast of all the latest industry changes and developments. Its this passion that has helped propel the brand to new heights in this challenging and competitive marketplace. To learn how you can benefit from SAP business global partnerships, contact the firm today and start building your future now. As always in the business world, time is purely of the essence so start today and build for tomorrow.

How Enterprise Resource Planning Can Help You Take Your Company To The Next Level

ERP is currently one of the hottest topics throughout all of the commercial arena. This is because SAP implementation can provide a vast range of benefits at a very nominal investment of money and time. This is an impressive technical solution that has been seamlessly integrated and customized for meeting the needs of the individual business. Following are several ways that this remarkable tool can help you take your company to the next level and beyond.

One very easy way to understand exactly how this type of tool works is by considering it to be the brains of your organization. Rather than spreading data collection and analytics across a number of different resources that have wholly unique designs and function, your company will be using a single, standardized tool that collect and assess info on a company wide basis. This allows for an all-inclusive view of the organization and a far better ability to recognize important relationships, pending problems and possible solutions among other things.

The benefits that these resources supply both collectively and cumulatively are far-ranging. For instance, many companies find that it is far easier to remain in compliance with the standards of their industry when using this type of technology. Moreover, they are able to avoid a number of costly fines and penalties because of their enhanced views and can also better protect their overall reputations.

This view additionally allows company owners to identify key areas of waste that might otherwise go unnoticed. For instance they might have costly, rented equipment or salaried employees that are providing redundant benefits at no additional value. Identifying redundancies allows for a far better allocations of in-house resources and trained talent.

Companies can also streamline and improve their existing supply chains. This can lead to lower overhead costs, greater customer retention and improved client satisfaction overall. Analyzing the supply chain and its overall efficacy is extremely important when a number of the company’s operations have been outsourced.

Beyond these benefits, the increased data that ERP supplies and the greater level of data accessibility that you’ll invariably enjoy will also allow you to make timely and wholly informed decisions concerning important investments for growth and for improving or protecting other areas of your business. With a standardized brain in charge of your commercial operations and one that accounts for the nuances and needs of your organization, you can look forward to far more impressive results all around.

Learn Arabic the Easier Way

Learn Arabic the Easier Way

Arabic, a Semitic and an Afro-Asiatic language, consists of several colorful dialects. Since it is the language officially spoken in many countries in the Middle East and North Africa, companies based in Singapore make sure that they have employees who know this language so they can do business with customers in these countries. So, by learning this language, you enhance your job prospects. But for learning Arabic the easier way, you can use the following tips.

1. You must understand first that the language is of several types like Modern Standard Arabic, Colloquial Arabic and Classical Arabic. Decide which one you wish to learn. While Modern Standard Arabic is used for writing, in formal contexts and in literature, media writing, etc., Classical Arabic helps mainly in Islamic studies. Colloquial Arabic differs from one country to another and so, the dialect you must learn depends upon the specific country with which you may be doing business.

2. Begin the process with learning Arabic alphabets. Ignore transliterations and it is better to start with the script. Very importantly, learn using the Arabic dictionary. Listing of words in the Arabic dictionaries is done using the three-letter roots of the words. You need to practice consistently.

3. For studying the language, you can study at home using self-tuition courses. For self-learning, try to buy the books that suit you.

You can try online tuition also. There are a few good courses and so, you have to do your research and choose the one that fulfills your needs.

You can learn Arabic in singapore by enrolling yourself in a course offered by a good institution. You have part-time classes offered during evenings and hence, you can focus on your other activities during the day and learn the language also.

4. Additionally, practice learning by speaking to native speakers by joining pen-pal websites. Listening to Arab music, watching soaps, news broadcasts and shows and chatting frequently with those who speak the language will help you learn the language faster.

Once you learn Arabic language and are certain that you can handle the language confidently, you can apply for suitable jobs. If the employer is satisfied with your competence, you will certainly land in the job you have been aiming at. You can help the company in their efforts to expand their business to regions where Arabic is spoken. In other words, learning the language will help you in your career growth.

What is Intellectual Property?

Basically, the term ‘intellectual property’ refers to the creations of the mind, like inventions, literary and artistic works. An intellectual property can be protected in law through patents, copyright and trademarks. People can earn recognition and reap other rewards for their creation this way.

Classification

Intellectual properties can be divided into two: Industrial properties and copyrights.

Patents for inventions, trademarks, industrial designs and geographical indications come under industrial properties. Literary works such as novels, poems, plays, films, music and artistic works are protected by copyright. Normally artists, musicians and architects seek copyright protection.

It would be very difficult for film production companies, software firms and publishing houses to survive without copyright. Researchers and inventors would not have any inspiration to continue working in their respective fields without the backing of the patent system.

Patents

The term ‘patent’ refers to the exclusive right granted for an invention, product or a process. Patent allows a person to have their invention or creation protected for a limited period. A patent recognizes a person as the inventor or creator of a product. On the strength of a patent, a creator or an inventor can pursue legal action against another individual who claims the product to be their own creation. The procedure for granting patent varies in different countries. Normally, the patent application includes one or more claims that define the creation or invention.

Patents are normally granted by national patent offices or by regional offices.

Trademarks

A unique sign that identifies goods and services produced or provided by an individual or a business for sale in Singapore. A trademark makes it possible for the consumers to find out whether a product was produced by a genuine company or not. Trademarks also help to hamper the illegitimate activities of counterfeiters.

A trademark can be a word or a combination of words. It may also contain symbols and signs. Any person who can certify that their product meets established standards has the right to earn a trademark.

You can apply for trademark by filing an application for trademark registration with the national or regional trademark office. The application must contain the sign filed for registration. The trademark rights granted to one person may not always be the same as or similar to that granted to another person. They are ascertained by search and examination by national offices or the opposition by third parties who claim to have similar rights.

How to Value an Upcoming Company

These days the entrepreneurial spirit is alive and kicking with a range of startups offering everything from taxi services to laundry and food. Every startup or young company requires a thorough company valuation in order to get investing coming in. Once a company’s value can be determined investors can be approached for seeding purposes. The investor will however wish to know what his returns will be, when his returns will be and how much of a profit he can make in how much time.

Here is where things get tricky as evaluating young companies can be an incredibly tricky and subjective game. It all boils down to business owners knowing how to deal the cards they have been dealt, especially at a time when investment sources are becoming scarce. If a business owner ends up quoting a figure too low they might end up losing a lot more equity and share of the company than they might be willing to part with. Mark the company’s valuation too high could lead to the investor scoffing at your understanding of basic underlying economic concepts.

Key Steps to be Taken

Three main techniques one needs to keep in mind when valuing a company are:

1. Asset valuation

Considering all valuation methods, the asset approach is the most concrete method of putting a value on a company. Here dollar values are placed on assets in a company’s balance sheet and added up. Beginning with the physical assets such as personal computers, office furniture, machinery and inventory, companies will usually not possess much in the form of physical assets. However keeping this number in mind is handy down the line.

Intellectual property plays another key role. Valuation needs to be made for trademarks, in corporations papers and patents. This approach could be squishy, however the dollar values are accurate and real. A rule of thumb that investors tend to use is every patent filed justifies $1 million rise in company valuation.

Next are employees and principals. Most companies see their value in their people. During the dot-com surge of the 1990s, it wasn’t uncommon to view valuations increase by $1 million for each programmer, designer or engineer. Do consider the value of sweat equity – such as the salaries which would get paid to executives and founders who didn’t take them in the first place.

2. Market approach

One other way of viewing valuation is through estimation of a company’s earning potential based upon theoretical market demand. Begin by estimating the size and growth of the addressable market. The larger the market, the more your company will be worth. For a young company looking to entice investors, the ideal target market needs to be $500 million in sales potentially; upon your business requiring a lot of property and equipment, the addressable market needs to be around $1 billion.

Next take into consideration the competition and the barriers for entry. The stronger the competition the lower the valuation becomes. On the other hand, the stronger your company is towards new challengers, the more it is worth. Goodwill also helps increase a valuation by a couple of million dollars.

Facts About ERP Not Known

German based SAP developed SAP ERP which has different modules to support various types of businesses involved in marketing, sales, HR, finance and accounting and the list is endless. SAP is software which can integrate various types of data across globe for an organization. It is a common platform for which can give a real-time information and reporting without any redundant errors. While, the software is extremely effective for reporting purposes and has a lot of associated advantages, there are some facts which can help you save some cost during ERP implementation or during its up gradation.

Cost saving & other facts:

Expense -ERP is expensive software compared to many other ERP products. Vendors can offer you products like SaaS or Compiere which are less expensive. SaaS offers robust ERP products which can fit into your pocket easily. You can therefore bargain while you purchase ERP from your vendor. ERP system Singapore is another

Implementation in mid-market businesses – SaaS ERP can be used by any company now. Any organization having its presence in 50 countries to a larger organization spreading across 100 countries can roll out SaaS ERP. SaaS ERP therefore gives a direct competition to SAP ERP which also offers similar solution to all large scale or small scale businesses but at high costs and long implementation time.

Research ERP products – There is always a scope of betterment so carrying out your research before purchase of SAP ERP is important. Competitors work arduously and offer you newer products or launch these in near future. Waiting can therefore pay sometimes if the launch and introduction of such product is just around the corner which provides similar services as SAP ERP.

Maintenance Cost – SAP ERP maintenance cost has been constant over years and SAP did not plan to slash this cost. The cost that that SAP paid through this strategy was a dip of 9% revenue in 2009. In 2010, SAP ERP changed its directive and revised the annual fee back to 18%. SAP also froze its enterprise support contract price. Both these strategies resulted in 5% increase of revenue for the organization with net profit getting doubled.

Failures – Yes, while you would expect that SAP ERP would give the correct output, fact is that ERP projects can fail. SAP ERP projects namely Waste Management and Select Comfort have ran into troubles resulting in lawsuits and tremendous financial impacts.

Weighing in some of these facts can assist you during ERP implementation globally or ERP system Singapore.