Seven reasons why the Internal Combustion Engine is a dead man walking

September 18, 2019 | 148 views

The age of the Internal Combustion Engine (ICE) is over. Electric cars are the future. The transition has just begun, but the move from ICE vehicles to Electric will happen sooner and more quickly than most people suspect. What are the factors that lead me to say this with such confidence? However, China has passed a law which requires any vehicle maker to obtain a new energy vehicle score of at least 10% by 2019, which rises to 12% by 2020, and on up to 20% of sales by 2025. As a result of this announcement, all the major OEM’s have suddenly found EV religion.

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Edgecase

Edgecase empowers retailers and brands with the enriched product data and actionable insights necessary to improve product findability and relevancy, fueling an inspiring shopping experience.

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SMALL BUSINESS ADVICE

How to Choose the Right Small Business Accounting Software?

Article | September 23, 2022

Introduction With increasing complexities in financial management and migration towards digital technologies for accounting operations, advanced accounting solutions are gaining massive traction across the small business sector. Accounting software assists small businesses in enhancing their financial performance by providing higher accuracy, optimized payroll, automated transaction tracking, centralizing financial records, and others. However, it is crucial for small businesses to integrate the right accounting software as per their requirements to get the most out of the solutions. Since the market is full of numerous accounting solutions with different capabilities, selecting the one that is most suitable for your business can be overwhelming. So what are the factors that a small business owner should consider before looking for an accounting solution? Let’s see below. Select the Right Accounting Software: The Top 5 Primary Factors to Consider for Small Businesses Types of Software With multiple types of accounting software available, such as system software, application software, cloud-based software, and others, small business owners can opt for solutions that suit their operations and working style. If the owners operate in an on-the-go style, cloud-based software is best for them. But if the owners prefer to work from a single location, then the system software is appropriate for them. Learning Curve Until and unless small business owners are aware of the ins and outs of accounting software, using the software may seem complicated. As the high complexity of the solutions can result in costly errors, these owners should make sure that the learning curve for operating the software is not too steep. Features List Before small business owners start reviewing various types of accounting software platforms, they should take the time to brush up on the basics. It is crucial for the owners to make sure that the accounting solution has all the functionalities and features they need, such as inventory management, multi-currency support, payment processing, expense tracking, and others. They should also consider the add-on features that the solution provider can offer. Software Cost Accounting software varies in cost, depending on the number of users it supports, its tools and features, and other factors. The more specialized the software is, the more expensive it gets. Small business owners should compare prices between various accounting software providers and understand the exact amount and the process by which they will be charged. For instance, some of the companies charge standard monthly fees, while others have a single upfront cost with additional charges for add-on services. They should also find out if there are any hidden charges associated with the setup, customer support, and cloud storage. Customer Support A huge part of a reliable accounting solution is customer service. This is because small business owners need quick solutions and answers if they get stuck or have any questions related to the software. They do not want to be bounced around from representative to representative when reaching out for support. Thus, the owners should look for accounting software that offers excellent customer support and service. While selecting the solution, they should research and read customer testimonials about the software’s customer support. Begin Your Accounting the Right Way Efficient accounting is a crucial part of financial management, which involves tracking critical business activities such as accounts receivable and payable, invoicing and billing, bank reconciliation, reporting, and tax compliance, among others. It can be difficult for small businesses to get everything right, yet good accounting is fundamental for the company's growth and success. Choosing the correct accounting software is a crucial first step when getting started with the discipline. To get the most out of your accounting software, it is essential for small businesses to carefully consider their requirements, check the availability of features as per the requirements, and then select the accounting software that provides the capabilities they require for the greatest accounting experience.

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SMALL BUSINESS ADVICE, INDUSTRY OUTLOOK

How Are Small Business Accounting Software Meeting the Industry Needs Today?

Article | July 29, 2022

Introduction Every business owner wishes to become financially independent when starting a business. To achieve that, it is crucial for the owners to manage their finances in an efficient manner. When done wrong, financial management, which is supposed to make a company's budgeting processes more efficient, has led to the loss of funds in many cases. Without sound financial management, small businesses may struggle to meet their objectives and might even suffer losses that could push them into insolvency. Financial management assists businesses in maximizing their market share, minimizing capital expenditures, maintaining proper cash flow, and improving profits. Accounting software plays a significant role in proper financial management and has become a vital need for all businesses today. With a better understanding of the inefficiencies of manual bookkeeping and the increased chances of error in finance tracking, business owners are increasingly shifting from managing finances manually to leveraging innovative solutions, such as accounting software, to improve their financial management. Why Is Small Business Accounting Software a Need for the Industry Today? In the course of a typical day, there are numerous tasks and responsibilities that must be managed and accomplished by small businesses by the end of the day. From planning to managing finances and accounting, a small business owner's back is full of a plethora of day-to-day tasks. As a result, keeping track of every last detail is nearly impossible for them, especially in accounting, where keeping track of every transaction is critical for managing business operations. Accurate and reliable accounting management is critical for small businesses and start-ups to ensure stable cash flow. As accounting software helps small business owners keep track of every single transaction along with other benefits, such as managing business finances, understanding profitability, and preparing tax statements, among others, it is becoming a necessity for small business financial management. Here are some of the other reasons why small business accounting software is becoming a necessity in the industry. Overcoming Manual Records With the growing number of transactions in the small business sector, it is becoming increasingly difficult for business owners to track and record income and expense data. As accounting software assists these owners to overcome manual work by recording the data directly into the page in real time and keeping a daily update of all the transactions, it is increasingly being sought by small businesses. Ease in Maintaining Transaction Due to the increasing customer inclination towards the adoption of digital payment solutions, small businesses are encountering numerous obstacles in maintaining all transactions from different online portals. Accounting software helps businesses leverage the bank feed feature to connect credit card accounts and the business bank, thereby centralizing and maintaining all transactional data in one place. Preparation of Reports and Financial Statements Keeping track of all small and large transactions and preparing financial statements, such as profit and loss statements and balance sheets, of these transactions manually is a tedious task and prone to errors. Accounting software automates the preparation of these financial statements and allows comparing transaction activity from prior months and years. As a result, it is increasingly gaining acceptance among small business owners. Increases Efficiency Accounting software allows small businesses to manage invoices and expenses, prepare for taxation, and keep tabs on all the financials, including payments, bad debts, upcoming dues, employee salaries, and others. Delegating all these financial management responsibilities to accounting software enables small business owners to focus on tasks that require their undivided attention, thereby boosting business efficiency. Bottom Line Regardless of the size of the business, every company strives to optimize its financial management, improve efficiencies, minimize costs, and simplify complex and tedious tasks. Accounting software can help small business owners achieve these objectives, along with eliminating time-consuming manual processes and redundancies, by automating accounting practices. Following this, the growing introduction of advanced cloud-based accounting software capable of providing real-time data access to business owners from anywhere at any time and on any device is expected to change the ways accounting is done in the small business industry in the coming years.

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TECHNOLOGY, SMALL BUSINESS ADVICE

5 Tax-Related Resolutions for Smarter Small Business Accounting in 2020

Article | July 20, 2022

Accountants working with small businesses often play the role of business advisors, especially when it comes to educating their clients about tax regulations and reducing their tax bill by taking all legitimate factors into account. We’ve gathered four tips that accounting professionals can use as a check-list to give to their small and mid-size business owner clients looking to make better financial decisions this year.

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7 BIGGEST ENTREPRENEURIAL MISTAKES

Article | February 11, 2020

This is the first post in a seven-part-series detailing the biggest entrepreneurial mistakes business owners make. The series will run over the next few weeks so check back to learn more. These are the 7 Biggest Mistakes I have seen entrepreneurs and companies make that can devalue their Intellectual Property (“IP”) portfolio, damage their brand, or sink a deal. If you are considering turning your idea into a business, read this carefully first. There are other mistakes you can make, but these are the deal-breakers. Any one of these can cost you big bucks, credibility in the eyes of investors and potential partners, and ultimately lead to evaporation of the value of your idea.

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Edgecase

Edgecase empowers retailers and brands with the enriched product data and actionable insights necessary to improve product findability and relevancy, fueling an inspiring shopping experience.

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TECHNOLOGY

Gupshup Launches WhatsApp-based Commerce Solution for All Businesses

Gupshup | December 21, 2021

Gupshup, the market leader in conversational messaging, announced today the launch of a WhatsApp-based commerce solution that enables any business to construct a digital "storefront" on WhatsApp. Businesses can offer conversational journeys throughout the purchasing process, including pre-purchase, purchase, and post-purchase. Gupshup enables businesses to manage the whole purchasing experience on WhatsApp. Additionally, this comprehensive commerce solution makes use of Gupshup's newly announced 1-Click Bill Pay function, which enables companies to collect payments via WhatsApp and other messaging applications. Gupshup aims to create WhatsApp-based storefronts for thousands of businesses in 2022. A firm may use Gupshup's WhatsApp-based commerce solution to develop a product catalog, talk with consumers using AI-powered chatbots for product discovery, assist them through checkout and payment, and provide 24/7 support via chatbots and live agents. This helps businesses to promote their products and services via a structured experience complete with photos and organized product data. Additionally, customers may add desired products to their baskets on WhatsApp, engage with companies in real-time, and pay via Gupshup's recently released 1-Click Bill Pay link, all without leaving the chat window. “Gupshup offers the most advanced, comprehensive, and easy-to-use conversational commerce platform. Our goal is to enable every business, large and small, to get started with commerce through WhatsApp quickly and easily as well as realize the full potential of this capability to transform their business,” said Gaurav Kachhawa, Chief Product Officer, Gupshup. “We are seeing strong demand for the new Commerce features, and the early results for businesses are promising. This is certainly going to revolutionize the way businesses conduct e-commerce.” Ravi Sundararajan, COO, Gupshup About Gupshup Gupshup powers about 6 billion communications every month. Thousands of developing market firms use Gupshup to construct conversational marketing, sales, and support experiences. For each use case, Gupshup's carrier-grade platform delivers a robust conversational experience-building toolkit and a network of developing market alliances spanning message channels, device makers, ISVs, and operators. Businesses use Gupshup to make dialogues part of their consumer engagement strategy. There are Gupshup stores throughout India, LATAM, Southeast Asia, the Middle East, and Eastern Europe.

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SMALL BUSINESS TRENDS

SAP and MarketUP to Jointly Offer an Integrated System for Small and Medium Retailers

SAP | March 08, 2021

SAP joined MarketUP to offer an integrated arrangement of ERP and a POS in Brazil. The objective of this reconciliation of SAP Business One Cloud HANA and MarketUP's POS arrangement is the small and medium market. The apparatus is focused on businesspeople, all things considered, bringing the quick conveyance of secluded and cloud arrangements just as forefront POS innovation. The activity brings from starting a benefit that should satisfy the market: the expense up to 60% lower than offered by primary rivals in the area, and particular choices as indicated by the necessities of every retailer. It is likewise an advanced and adaptable choice, simultaneously moored in its base on the heartiness and productivity of SAP Business One, an integrated organization stage for all business exercises, from bookkeeping and CRM to inventory network and buying the board. The arrangement can likewise be actualized locally (on-premise), utilizing the current foundation and as per its requirements. Partnership for the development of the best technology Due to the unique benefits that this organization brings it is normal that the joint offer will turn into the leader answer for the small and medium retailers. In this organization, MarketUP contributes with the ability of its driving programming in the Brazilian market, as of now present in excess of 150 thousand retailers from various fragments, and another adaptation of its POS programming that brings numerous advances like, computerized wallets and QR Codes similarity, omnichannel, constant information, speed, high versatility, convenience and low upkeep, is based on PWA (Progressive Web Application) innovation and runs on Desktops, tablets, phones and even on creditcard machines. MarketUP's information and programming along with the back office arrangement of the SAP ERP for developing organizations - SAP Business One Cloud HANA - gives a strong, complete, and simple to-utilize arrangement that gives full perceivability of the whole business and all out power over any detail identified with tasks. About SAP At SAP, our purpose is to help the world run better and improve people’s lives. Our promise is to innovate to help our customers run at their best. SAP is committed to helping every customer become a best-run business. We engineer solutions to fuel innovation, foster equality, and spread opportunity across borders and cultures. Together, with our customers and partners, we can transform industries, grow economies, lift up societies, and sustain our environment.

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SAP and Customers Innovate New Ways for Industry-Specific Parts Planning

SAP | September 10, 2019

These are the result of SAP’s intelligent supply chain for assets customer initiative, which brought together SAP and more than 45 customers to co-innovate in this mission-critical area. The announcement was made at the North American Supply Chain Executive Summit in Chicago.“Every business leader I meet is looking for new ways to procure, manage and maintain aging assets to ultimately deliver on the desires of their customers,” said Franz Hero, SAP senior vice president, Digital Supply Chain Development. “With this initiative, we went straight to the source, working directly with our valued customers to explore new techniques and come up with real-world answers. Together, we’ve found a fresh approach to supply-chain planning and asset management to benefit everyone.”The customer collaboration yielded two main scenarios that existing and new customers can take advantage of to help them plan spare parts to enhance these scenarios as part of SAP’s strategy for digital supply chain.

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TECHNOLOGY

Gupshup Launches WhatsApp-based Commerce Solution for All Businesses

Gupshup | December 21, 2021

Gupshup, the market leader in conversational messaging, announced today the launch of a WhatsApp-based commerce solution that enables any business to construct a digital "storefront" on WhatsApp. Businesses can offer conversational journeys throughout the purchasing process, including pre-purchase, purchase, and post-purchase. Gupshup enables businesses to manage the whole purchasing experience on WhatsApp. Additionally, this comprehensive commerce solution makes use of Gupshup's newly announced 1-Click Bill Pay function, which enables companies to collect payments via WhatsApp and other messaging applications. Gupshup aims to create WhatsApp-based storefronts for thousands of businesses in 2022. A firm may use Gupshup's WhatsApp-based commerce solution to develop a product catalog, talk with consumers using AI-powered chatbots for product discovery, assist them through checkout and payment, and provide 24/7 support via chatbots and live agents. This helps businesses to promote their products and services via a structured experience complete with photos and organized product data. Additionally, customers may add desired products to their baskets on WhatsApp, engage with companies in real-time, and pay via Gupshup's recently released 1-Click Bill Pay link, all without leaving the chat window. “Gupshup offers the most advanced, comprehensive, and easy-to-use conversational commerce platform. Our goal is to enable every business, large and small, to get started with commerce through WhatsApp quickly and easily as well as realize the full potential of this capability to transform their business,” said Gaurav Kachhawa, Chief Product Officer, Gupshup. “We are seeing strong demand for the new Commerce features, and the early results for businesses are promising. This is certainly going to revolutionize the way businesses conduct e-commerce.” Ravi Sundararajan, COO, Gupshup About Gupshup Gupshup powers about 6 billion communications every month. Thousands of developing market firms use Gupshup to construct conversational marketing, sales, and support experiences. For each use case, Gupshup's carrier-grade platform delivers a robust conversational experience-building toolkit and a network of developing market alliances spanning message channels, device makers, ISVs, and operators. Businesses use Gupshup to make dialogues part of their consumer engagement strategy. There are Gupshup stores throughout India, LATAM, Southeast Asia, the Middle East, and Eastern Europe.

Read More

SMALL BUSINESS TRENDS

SAP and MarketUP to Jointly Offer an Integrated System for Small and Medium Retailers

SAP | March 08, 2021

SAP joined MarketUP to offer an integrated arrangement of ERP and a POS in Brazil. The objective of this reconciliation of SAP Business One Cloud HANA and MarketUP's POS arrangement is the small and medium market. The apparatus is focused on businesspeople, all things considered, bringing the quick conveyance of secluded and cloud arrangements just as forefront POS innovation. The activity brings from starting a benefit that should satisfy the market: the expense up to 60% lower than offered by primary rivals in the area, and particular choices as indicated by the necessities of every retailer. It is likewise an advanced and adaptable choice, simultaneously moored in its base on the heartiness and productivity of SAP Business One, an integrated organization stage for all business exercises, from bookkeeping and CRM to inventory network and buying the board. The arrangement can likewise be actualized locally (on-premise), utilizing the current foundation and as per its requirements. Partnership for the development of the best technology Due to the unique benefits that this organization brings it is normal that the joint offer will turn into the leader answer for the small and medium retailers. In this organization, MarketUP contributes with the ability of its driving programming in the Brazilian market, as of now present in excess of 150 thousand retailers from various fragments, and another adaptation of its POS programming that brings numerous advances like, computerized wallets and QR Codes similarity, omnichannel, constant information, speed, high versatility, convenience and low upkeep, is based on PWA (Progressive Web Application) innovation and runs on Desktops, tablets, phones and even on creditcard machines. MarketUP's information and programming along with the back office arrangement of the SAP ERP for developing organizations - SAP Business One Cloud HANA - gives a strong, complete, and simple to-utilize arrangement that gives full perceivability of the whole business and all out power over any detail identified with tasks. About SAP At SAP, our purpose is to help the world run better and improve people’s lives. Our promise is to innovate to help our customers run at their best. SAP is committed to helping every customer become a best-run business. We engineer solutions to fuel innovation, foster equality, and spread opportunity across borders and cultures. Together, with our customers and partners, we can transform industries, grow economies, lift up societies, and sustain our environment.

Read More

SAP and Customers Innovate New Ways for Industry-Specific Parts Planning

SAP | September 10, 2019

These are the result of SAP’s intelligent supply chain for assets customer initiative, which brought together SAP and more than 45 customers to co-innovate in this mission-critical area. The announcement was made at the North American Supply Chain Executive Summit in Chicago.“Every business leader I meet is looking for new ways to procure, manage and maintain aging assets to ultimately deliver on the desires of their customers,” said Franz Hero, SAP senior vice president, Digital Supply Chain Development. “With this initiative, we went straight to the source, working directly with our valued customers to explore new techniques and come up with real-world answers. Together, we’ve found a fresh approach to supply-chain planning and asset management to benefit everyone.”The customer collaboration yielded two main scenarios that existing and new customers can take advantage of to help them plan spare parts to enhance these scenarios as part of SAP’s strategy for digital supply chain.

Read More

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