As the Indian economy moves towards digitization, the importance of digital marketing grows by the day. All organizations from small businesses to large corporations, and new firms to established players must understand the importance of digital marketing. Furthermore, digital marketing provides businesses with measurable results which can be tracked over time for better decision-making. In addition, digital marketing provides “actionable” leads which can be converted into sales. Not surprisingly, firms have increased their budget allocated to digital marketing – the share of digital ad spending as percentage of total media ad spending in India increased from 12% in 2015 to 20% in 2019 viz. by 8% over just a period of 4 years. Clearly, digital marketing as a medium is giving a tough fight to the traditional media such as TV and newspaper – while TV ad spending in India grew by a healthy 12.5% CAGR over the 4-year time period from 2015 to 2019, and newspaper ad spending grew by barely 4.8% over this period, the digital ad spending grew by a sizeable 30%!
With the Covid-19 pandemic sweeping the world, the business world underwent an entire digital transformation overnight. According to a survey, 59% of firms increased their digital marketing efforts, and 66% completed digital marketing tasks that were perceived to be an enormous challenge previously. They also produced better results while saving money on traditional marketing expenses. Many people believe that these changes are perpetual in nature, as Covid-19 pandemic has permanently altered organizational operations and working.
Having established the tremendous growth of digital marketing in India over the last few years, let us examine reasons for the same.
Marketing was a luxury a decade ago because of the high cost associated with traditional media such as TV and print – the price of a front page ad in the Times of India or an outdoor hoarding at a busy Mumbai traffic junction was prohibitively expensive for small businesses. In fact, large advertising outlay was considered as an entry barrier for a new player in FMCG categories. But digital marketing has changed all that – it has created a level playing field for small and new firms to compete as it requires only a small budget. For instance, a small Indian management consultancy firm can now hope to leave behind the large and more well-known foreign consultancy firms on Search Engine Result Pages (SERP’s) by using SEO effectively. Moreover, while most digital marketing tools provide basic features for free, there are other digital platforms on which ads can be run for as little as $1. It is up to the initiative of small and new businesses to maximize the use of these free tools and economical platforms innovatively.
2. Extensive Reach
An old English saying goes as “fish where the fish are” ; in other words, one should be present where the target audience is. Consequently, businesses are turning to digital media for branding as their audience migrates to search engines and social media – 2019 data for share of average time spent with media for India reveals that consumers spend about 5 hours daily interacting with media, out of which roughly 60% of the time is spent with TV and 30% with digital media. As a result, marketing on digital platforms will substantially broaden reach.
Moreover, the reach of digital media is global – the firm undertaking digital marketing shall be able to accept orders from anywhere across the world. It is noteworthy that even a traditional sector such as handicrafts has benefitted from this global reach – the “One District, One Product” (ODOP) Programme of the Uttar Pradesh Government has a successful tie-up with Amazon to sell each District’s identified handicraft product all over the globe.
Businesses have since long collected aggregate sales data, which can be analyzed to throw up trends. With digital marketing, one can now capture individual customer data using CRM tools such as Salesforce and Oracle ; this individual customer data can be analyzed through data mining, and then be used for “mass customization” viz. changing product specifications according to individual customer preferences, as well as “one-to-one marketing” viz. directing different sales pitches at different individuals. As an example of mass customization, Nike in USA allows customers to customize a few of its more popular brands such as Air Force 1 ; this trend of mass customization has yet to take off in India. On the other hand, one-to-one marketing is omnipresent for targetting ads on social media such as Facebook or Twitter.
4. Brand Awareness
Digital marketing can increase brand awareness of a new or a small brand within a short time, irrespective of the fact whether it is bought through recognition or recall. This is critical as without brand awareness, the brand will not make it to a potential customer’s consideration set.
With the search engine Google enjoying a market share of 94% in India as of July, 2022, any Indian digital marketer has to consider Google for Search Engine Marketing (SEM), be it for Search Engine Optimization (SEO) or Pay Per Click (PPC) type of paid promotion. Moreover, the Click-through Rate (CTR) of search engines is usually higher than that of other digital channels, as the user who types in a query on the search engine is after all looking for some information about the product category or the brand.
It is pertinent here to note that some of the social media channels such as LinkedIn, Twitter, Facebook, Instagram and YouTube serve as good awareness platforms, besides being good engagement platforms wherein brands can interact with their consumers in a two-way interactive communication.
5. Online Reputation Management (ORM)
Research has revealed that 85% of consumers trust online reviews as much as personal recommendations ; therefore it is imperative that the online brand reputation be managed proactively. The objective of this ORM is to present a positive image of a company, while removing any negative content at a short notice. The latter requires a dedicated team, either in-house or out-sourced, which closely monitors the online content to detect and remove any negative comments. This team should also help address grievances or resolve complaints that may arise online.
6. Real-time Measurability
Marketers are able to measure the efficacy of their digital campaigns quite accurately. Thus, if the campaign is not delivering the desired results – on either intermediate metrics such as brand awareness, or end-performance metrics such as leads or conversion rates – it can be easily tweaked or “optimized” mid-way. In fact, the fact that marketers can get “near-instantaneous” feedback on the effectiveness of their digital campaigns, is one of the strengths of digital marketing. This implies that marketers are able to measure the ROI (Return-on-investment) of their campaigns in real-time. Moreover, the better conversion rates of digital marketing campaigns, coupled with their low investment, implies that the ROI of such campaigns is much higher than that of traditional media campaigns.
Digital marketing is expectedly important for small businesses and start-ups which operate on shoe-string budgets. We at Concat are here to assist such organizations in building a winning Digital Marketing Plan in line with their business goals. The right digital marketing strategy is barely a click away – just go for it!
The Indian Government has recently auctioned the 5G (5th Generation telecom technology) frequency spectrum to telecom companies, wherein the Government garnered a whopping Rs 1.5 lakh crore. We have indeed come a long way – from 1G which allowed just making and receiving calls and 2G which allowed text messages to be sent or received, to 3G which gave access to the internet to 4G with its increased internet access speed and now 5G which takes the internet access speed to greater heights. While the telecom industry is gung-ho about the 5G technology, it is time to take stock of the pros and cons of this technology.
The high frequency used in 5G allows for faster data transmission rates of up to 20 Gbps. This high speed shall enable high-resolution video streaming, and faster downloading in a few seconds which presently takes minutes or hours at times as in the case of downloading movies. On the other hand, uploading shall still take place at moderate speeds of 100 Mbps.
The low latency in 5G of less than one millisecond implies that the time lag associated with data transfer shall be minuscule, thereby offering a good user experience while browsing. This low response time shall support new applications such as IoT (Internet of Things), industrial automation, computer gaming, and augmented or virtual reality.
The capacity offered by 5G is 100 times higher than that of 4G, which implies that a much larger number of devices can be simultaneously connected to a 5G network. There is a seamless transition between cellular devices and wireless Wifi. Moreover, guaranteed network availability for hospitals and private networks for firms and universities are possible now.
With internet access currently at 60% and growing at a fast clip, the common man in India shall no doubt be impacted by the new technology in myriad ways. With the possibility of running multiple parallel services, one can get weather information while talking. We shall be able to control our personal computers (PCs) and laptops by mobile handsets. While a remotely located student can attend school virtually, a doctor shall be able to operate on a remotely located patient with the help of video technology and medical robots. The traffic management system, along with self-driven cars, shall witness a sea change. “Smart Farming” can be put in place which shall intimate farmers about critical information including rainfall and optimum use of water. Natural disasters such as earthquakes could be predicted early on thereby reducing damage and saving precious lives.
Despite its many advantages, 5G has a few negatives as well. In Phase 1, it shall be available in only 13 cities of India leaving the roll-out in other cities and rural areas to a later date. Implementing 5G still requires the existing 4G network; later on, the independent 5G network shall have to be established if the full potential of 5G has to be realized. This shall require investment in base stations and transmission towers by the players, apart from 5G-compatible handsets to be bought by consumers. Also, it should be pointed out that what one gains in speed with 5G, one loses on the range of the system – 5G requires more towers than 4G to adequately cover a geographical area and thus is a more capital-intensive technology. There is also some concern about cybersecurity because of hacking and data theft.
To sum up, 5G is the way forward, despite a few shortcomings; how it pans out – only time will tell!
~Tapan Yadav, Business Head – Marketing.
Could you have imagined a few years back that information, entertainment or official work would be in your palm? Using a desktop to palmtop, and now a mobile, you can do everything from anywhere any time. Digitalization is making people’s life easy, and providing access to knowledge, undertake shopping, enjoy socializing on social media platforms, and get entertained with movies and other shows. Nowadays, you can visit office virtually, or have a customer meeting virtually, or even connect with your family and friends across the globe while sitting in the comfort of your home. Technology has played the role of a catalyst in accelerating industrialization, and globalization of tastes and preferences.
An example of the change brought about in the banking sector is the digitalization of financial transactions, a change that has been quickly adopted by the Indian populace, whether literate or otherwise. Now, most of the financial transactions are done digitally without any hassle of paper work thereby reducing cost as well as time. Besides being convenient, these financial apps are easy to understand and use, thereby resulting in appreciable increase in financial inclusion – from a big organization to a small shop-owner to a pushcart vendor, all use digital payment systems nowadays.
HR is rapidly creating an important place for itself in any organization. An effective HR strategy helps in rapid business growth, as people are the key driver of organizational success. Moreover, I can vouch from my experience that employee satisfaction is primarily dependent on the HR Department. Given this scenario, HR professionals should spend maximum time with the employees to ensure the best employee experience, rather than being lost in doing transactional work.
Some of you might remember the timekeeper of yore in the HR Department, who used to manage attendance records manually. Moreover, the salary was being paid either in cash or through cheque. This used to be a very tedious and time-consuming activity – the HR and the Finance teams had to slog during the first or the last week of every month. Now, managing attendance and payroll is done quite easily with the help of automation. Employees also get updated information as and when they need. Leaders can also check on the attendance of their team members.
The automation in HR first started with digitalizing of repetitive tasks such as attendance, payroll, employee database, and visitor management. Besides being recurring in nature, this involves handling voluminous data – it is important to manage this “big data” with confidentiality and accuracy, as well as ensuring that it had a long shelf-life. Once the authorization levels are fixed, reports can be accessed by relevant personnel in various departments for instance, team leaders can access these records for better decision making.
It is pertinent to note that entire life-cycle systems of employees can be automated – this typically starts from talent acquisition to managing separation. HR can virtually do everything on such HRIS systems. Now digitalization has advanced to a level where one can effectively manage employee engagement, performance tracking, and learning & development activities. HR person or the team leader can check dashboard, strategize and plan growth activities as per the organizational needs.
Nowadays, HR can find good Artificial Intelligence (AI) based digital tools available in the market to manage end-to-end employee processes. AI-based systems can help HR to predict/forecast quite accurately, thereby enabling the HR persons to take right decisions well in advance.
Big or small, most of the corporates are catching up quickly with technology and their dependency on automation is gradually increasing. During the current pandemic, we have realized the importance of automation when working remotely, say, from one’s home. All in all, I find that in this changing world, where technology has helped manage many of our tasks, HR roles are also changing accordingly. It is important that employees must move equally fast, learn new ways and to develop their capabilities.
HR folks! Be ready to embrace the digitalization for a better organization as well as a better you!
The process of backing up your data in case of loss and putting up secure systems that enable to retrieve the data as a result is known as data backup and recovery. To assist a company in recovering from an unexpected catastrophe, backup copies make it possible to restore data to a previous point in time. To provide access to computer data in the event of data loss or corruption, data backup entails the copying and archiving of computer data. Only data that has been backed up using a trustworthy backup device can be restored. To safeguard against primary data loss or corruption, it is essential to save a copy of the data on a different medium. One method of disaster recovery is data backup, making it an essential part of any sensible disaster recovery plan.
All of the data and settings for your company operating systems may not always be recoverable from backups. Since a backup and recovery may record everything that was on the device, multiple types of disaster recovery may be required for computer clusters, database servers, or Active Directory servers, for example.
It is not required to archive your data on a local system’s hard disc or external storage because important data may be backed up utilising cloud storage. Additionally, you can configure your mobile devices to support automatic data recovery using cloud technology.
In the event of a main data failure, the backup’s goal is to make a copy of the data that can be retrieved. Primary data failures may come from hardware or software issues, data corruption, or a human error like a malicious attack (virus or malware), data deletion accident, or other human-caused event.
Testing Data Backups
When choosing a data backup system, backup testing is a crucial factor. It is one of those important factors that will warn the user of any potential problem in advance. In other words, unless and until you test your backup system, you won’t be able to determine its integrity.
When compared to the headache it avoids in the event of an information disaster, off-site servers are cost-effective for data recovery since they offer enormous volumes of data storage. In the long run, it’s crucial to have a safe and secure location outside of your primary corporate server to keep information.
In most cases, data recovery is painless. Furthermore, they (offsite servers) have further backed up the data onto their own drives in the extremely unlikely event that they crash. As a result, employing an offsite server for backup and recovery is a reliable way to safeguard your data.
Offsite storage alternatives as well as external disc storage are also potential necessities. The best option for you will totally depend on the type of business you have. The main decision to be made is whether you need a short-term or long-term solution, and whether the cost of the short-term option is higher than that of the long-term option because data backup and recovery function essentially in the same way.
While external drive storage is frequently a one-time purchase expense (buy cost) until the disc breaks, onsite storage offers additional storage but at a regular cost (payments).
The goal of a backup is to produce copies of your data that you can restore if your primary data is lost. Primary data failures can be caused by a variety of problems, such as software or hardware failure, an unforeseen human action, data corruption, malicious ransomware assaults, and unintentional data deletion. Therefore, backup copies enable you to rapidly recover from an unforeseen catastrophe by restoring your data to a previous point in time.
You must keep a backup of your data on a different medium to guard against corruption or loss. A tape drive, disc storage media, cloud storage container, or a simple USB stick or external hard drive might all be used as the supplementary backup device. The alternative medium could be kept remotely or in the same place as your primary data. Utilizing a remote site is acceptable if you are located in a region where weather-related events are likely to occur frequently.
To reduce the amount of data lost between backups, make your backup copies on a regular and consistent basis for the best outcomes. This implies that the greater the risk of data loss you experience when recovering from a failure, the more time that elapses between your backup copies. So don’t put off creating your backup copies for months. Additionally, keeping several copies of your data gives you the freedom and security to restore your systems to a time when they weren’t harmed by malicious assaults, hardware failure, or corrupted data.
Disaster recovery (DR), which is a component of security planning in the IT industry, is created in tandem with a business continuity plan. It refers to guidelines and practices aimed at safeguarding a company or organization from any unwanted outcomes, such as system or structural failures, cyberattacks, or natural disasters.
Disaster recovery is crucial for creating business continuity strategies that can assist your company in quickly restoring its hardware, applications, and data. It is occasionally regarded as a part of business continuity. An extensive business impact and risk assessment analysis must be prepared before creating a comprehensive catastrophe recovery plan. These procedures assist in locating the precise IT services that can support your company’s vital business operations. They also aid in defining the recovery point and recovery time objectives.
The term “database management system” (DBMS) refers to a software program that makes it simple and efficient for you to manage databases, enabling you to correctly arrange your data. The ability to store, modify, and retrieve data from databases is just one benefit of DBMS. Additionally, it gives you the ability to conduct transactions and safeguards your data.
Systems are linked to a third-party provider who offers private, public, or hybrid cloud services through backup as a service (BaaS). Instead of using a centralized, on-premises system, do backups this way. Instead of spending money on an expensive update or if they lack the resources for an on-premise backup, organizations may choose to adopt a BaaS solution when they have outgrown their legacy storage backup.
Due to the rapidly evolving and ever-changing nature of technology, CONCAT offers business data backup solutions by taking care of cybersecurity and backup management, relieving load on you and your team. CONCAT maintains your data backup process to keep your organization running smoothly in the event of a calamity.
CONCAT understands that client support is a lynchpin in the entire customer journey,
CONCAT helps businesses transform through a combination of technology and business intelligence to make a meaningful difference.
We leverage customer service as an opportunity to delight customers and engage them in new, exciting ways and catalyze change
CONCAT is a company that provides multi-service Solutions to clients in Manufacturing, Financial Services, and many more different industries with an integrated digital approach inclusive of modern-day technologies like
Artificial Intelligence refers to the intelligence demonstrated by machines. These machines are capable of doing tasks that require human intelligence. The primary goal of implementing AI-based solutions is to allow machines or systems to behave autonomously without repetitive programming. AI/ML is becoming increasingly important as virtually every organization now has people who work remotely. They can also be used to improve endpoint security and protect corporate data and devices. Concat is able to provide a superior experience for clients through connected, available, and reliable pool devices.
The internet of things, or IoT, is a system of interrelated computing devices, mechanical and digital machines, objects, animals, or people that are provided with unique identifiers (UIDs) and the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction.
the rapidly growing network of connected objects that can collect and exchange data in real-time using embedded sensors. Thermostats, cars, lights, refrigerators, and more appliances can all be connected to the IoT.
IoT applications run on IoT devices and can be created to be specific to almost every industry and vertical, including healthcare, industrial automation, smart homes and buildings, automotive, and wearable technology. Increasingly, IoT applications are using AI and machine learning to add intelligence to devices. Cloud – IoT (AWS) @ Concat helped client to get the best-in-class solution to meet set goals.
Also referred to as Distributed Ledger Technology (DLT), a Blockchain is a digital ledger of transactions that is duplicated and distributed thousands of times across a network of computer systems on the blockchain. It is the process of recording information in a manner that makes it difficult or impossible to change or hack the system. Blockchain technology are developing and testing other uses for blockchain, including these:
It is a mistake to believe that you are of no interest to cyber attackers. Everyone who is connected to the Internet needs cyber security. This is because most cyber-attacks are automated and aim to exploit common vulnerabilities rather than specific websites or organizations. It aims to reduce the risk of cyber-attacks and protect against the unauthorized exploitation of systems, networks, and technologies.
Cloud computing is the delivery of computing services—including servers, storage, databases, networking, software, analytics, and intelligence—over the Internet (“the cloud”) to offer faster innovation, flexible resources, and economies of scale. Cloud-computing services cover a vast range of options now, from the basics of storage, networking, and processing power, to natural language processing and artificial intelligence as well as standard office applications. Pretty much any service that doesn’t require you to be physically close to the computer hardware that you are using can now be delivered via the cloud.
An agile, resilient data and analytics strategy is critical to business success in today’s rapidly changing world. Big Data techniques & Analytics Summit gives you the tools you need to build a strategy that aligns with business goals and makes data and analytics central to your organization. To develop deep customer understanding, we employ a range of quantitative and qualitative marketing research approaches plus big data techniques that are both innovative and pragmatic. CONCAT Translating consumer insights and big data into concrete initiatives that drive above-market growth.
We all know that in any business, time is money. Almost every organization has many operational areas that perform hundreds of different tasks every day Robotic process automation (RPA) is an application of technology, governed by business logic and structured inputs, aimed at automating business processes. Using RPA tools, a company can configure software, or a “robot,” to capture and interpret applications for processing a transaction, manipulating data, triggering responses, and communicating with other digital systems. RPA scenarios range from generating an automatic response to an email to deploying thousands of bots, each programmed to automate jobs in an ERP system. RPA technology is changing the way business is done.
Virtual reality uses a headset to place you in a computer-generated world that you can explore. Augmented reality, on the other hand, is a bit different. Instead of transporting you to a virtual world, it takes digital images and layers them on the real world around you through the use of either a clear visor or smartphone.
Virtual CTO/CIO service that provides your business with the technical expertise, the capabilities of a CTO/CIO such as the ability to ensure technologies are used efficiently, profitably, and securely, without the full-time salary and other expenses. As a leading IT- consultant, we Provide services, with an ultimate, goal, of course, is to leverage technology to increase revenue and decrease expenses.
HR Shared Services is a business strategy that consolidates various human resource services shared across an organization. The primary benefit of increased operational efficiency, with some other benefits including cost savings and improved customer service levels.
This strategy would be beneficial for organizations that want to streamline their human resources practices by bringing various activities together under one roof. It could also be helpful for smaller firms or businesses in areas with no established providers within the area.
HR Shared Services can be implemented through some strategies. The most common example is taking various HR functions into one department. The other strategy is to outsource some HR work to third-party vendors specializing in virtual CFO services.
Organizations implementing a shared services model will often see changes in their India entry advisory companies. These changes can include layoffs, with positions combined or eliminated, and new hiring from outside sources (including outsourcing).
Different HR functions must be looked at to determine how best to implement this strategy. This could be done by looking at the number of employees within each function and ensuring that the functions are consolidated smoothly and can easily be used together. Business organizations must also take a role in determining the best path forward. This could mean deciding whether to hire separate employees for each function or outsource all of those responsibilities to an outside source.
Costs will need to be considered to determine if this is the right direction for your organization. This could entail looking at the long-term costs of outsourcing various HR parts and determining whether there will be cost savings after implementing shared services.
Sales and marketing consulting firms are a prevalent online resource because they will help you achieve your sales goals. The world of sales and marketing is complicated to understand, so these virtual CFO services are popular. They will get you started on the right track from the beginning. Before you start a business in sales and marketing, you will have to develop a strategy for your business.
Consulting firms can help you by creating a professional resume and cover letter for your employer. However, it would be best if you also considered using a legal consultant to help you find potential clients who would be interested in your company’s marketing and sales services.
Since most businesses do not have the time or human resources to set these up on their own, they often turn to consultants like these because they will give excellent results much faster than if they were on their own.
If you have been wondering how to take your marketing efforts from static to offline, or single-screen online marketing, to a more dynamic and engaging space, then this article is for you. This post is for business owners and marketers who want to Developing an omnichannel strategy a robust customer experience across multiple channels, using each one best suited for the task at hand.
The term “Omnichannel” has been used so much lately that it’s hard to imagine a time when businesses didn’t have an online presence. Thanks to technology and the internet, shopping and purchasing can now be done quickly on the go, wherever you are.
Omni-channel retail is about making your business more convenient for your customers. It’s about matching the convenience of online shopping with physical in-store shopping.
OmnichannelWhile it may sound not very easy. But, on the contrary, the omnichannel retail strategy isn’t all that difficult. It’s just very different from how things were done in the past. The key to making this transition simple is to think about your business and then consider what each channel offers your customers.
Remember that customers will not flock to one channel because they like it better than the others. Instead, you need to understand their needs and desires and take the proper steps to get them in the right channel.
If a customer approaches your business from one channel and has a good experience, you’re likely to have them come back another time. Depending on what channel they use and their experience, they might come through the same way again. Some channels are also easier for customers to access during different parts of their lives.
For example, someone young but about to start a family might use virtual legal services than someone older with teenage children already. Use different channels based on what’s convenient for your customer at that specific point in their life.
The value of good customer service is so much greater than providing advertising and pr services. A business can focus on offering a differentiation that makes it worthwhile for customers to choose that business over another. What’s your company’s USP? Why should someone choose to work with your company instead of others? These are things your customers will want in every channel they interact with.
The value of good customer service is so much greater than providing products or services. A business can focus on offering a differentiation that makes it worthwhile for customers to choose that business over another. What’s your company’s USP? Why should someone choose to work with your company instead of others? These are things your customers will want in every channel they interact with.
The more a customer can interact with your business, the more likely they will become a loyal customer. If they buy from you, they will come back again and again. Offer incentives and discounts based on the channel customers use to make sure that you build loyalty with repeat customers. Here is an excellent example of how this marketing strategy consultant works well for Amazon.
You will save money on customer retention if you offer incentives to retain customers that come back with a discount or a renewal when their membership expires. You will gain customers by offering incentives and giving them what they want.
A business can optimize its strategies by allocating efforts and resources to the channels with the best return on investment. For example, you may not want to spend much money on TV ads and focus your attention instead on digital marketing.
A business can optimize its strategies by allocating efforts and resources to the channels that will get them the best return on investment. For example, you may not want to spend much money on TV ads and focus your attention instead on digital marketing.
For more on Omnichannel Strategies, call Concators at 9555626260.
Ever wondered how to save the time of your valuable brand by outsourcing? Well, the Human resource department is an integral part of any organization. And due to its demanding responsibilities, many brands opt to hire HR outsourcing companies in India.
This helps an organization save time and focus on its zones of strength! HR services can be most helpful for startups beginning to form a core team and invest mindfully. You may consult Concators HR operations to get a leading service provider on your end! Our trustworthy services and professional work environment has transformed many hefty HR operations into easy ones.
Any excelling startup business consultant in India would advise outsourcing HR from any other company to handle payrolls, staff training, employee benefits, and other such functions. However, rather than investing time and effort in these HR compliance services, brands tend to hire a third party that can easily manage this area of their firm.
A major pro of this set of business expansion consultant services is that it dramatically cuts down the expenses of a company. Rather than hiring an entire department and having to pay them consistently, it has become much easier to get an HR outsourcing party that can reduce the hassle for the brand.
In recent years it has become quite evident that the companies are more inclined towards working on their strengths. Therefore, HR outsourcing allows them to work on their specialization and deliver the best products to their customers.
The current Scenario has witnessed that most businesses have started to utilize offline and online platforms to establish their market. Thus, the competition grows with each passing day, and the brands focus on both aspects of their business. Especially if you own a startup or a small enterprise, having a separate department to manage the HR compliance services can be pretty hectic and time-consuming. Plus, it may cost you a lot of money to keep it running!
All in all, it can be a win-win situation to outsource HR services because it will cut down the expenses of your company and reduce the burden of having a different department.
To perfectly manage the HR operations, many companies provide ASP. Under this outsourcing method, the brand is given customized hardware and software inputs to install into their systems. These are professionally designed applications like Oracle HRMS & PeopleSoft HRMS that help in operations like data handling, modulation, and enhancement. Some renowned companies that provide ASP are PeopleSoft and Oracle.
Many brands tend to hire BPO services to have a dedicated department that can process customers’ queries. The client comes in contact with the support centers, reducing a significant workload! Generally, BPO is outsourced by brands that have an international client base. To converse with them in their preferred language and time, BPO serves as a great relief.
Total HR outsourcing is hired from third parties to evaporate the department entirely. The provider company has some professional HR officials and strategists. This includes ASP & BPO, so there is no HR department in the brand. The customization of hardware and software and the support centers are managed under Total HR outsourcing.
The third parties tend to introduce new features for their employees now and then. For example, the ASP applications are being updated with further modulations to serve the clients better. Because the competition in outsourcing has risen immensely and it is getting harder to retain employees in the longer run. With that said, HR service types can vary mildly with many more additions to save time and effort.
Concators, among the top best hr outsourcing companies in India, have a dedicated team of HR strategists to make a structured layout for your operations. You can drop a message at +91 9555626260, and one of our officials will soon get you on the line!
Company secretarial services, as the name might suggest doses not involve the traditional secretary roles and responsibilities but instead includes the administrative functions performed within the business, which consequently ensures effective corporate governance, efficient administration, and compliance with the rules and regulations as well as laws that generally govern business working and the whole industry.
Managing corporate governance is imperative and necessary for a successful business run.
Your company must ensure proper adherence to the Companies Act 2006, compliance with the law and legislation that regulates and governs their business ventures, and stringently maintain records, for example, conducting meetings within businesses, the conduct of board members, any interactivity and or ongoing conversations/dealings with shareholders and stakeholders and whatsoever arrangement and interaction with government authorities.
In this blog, you will have an in-depth glance at why company secretarial services are essential for businesses and why outsourcing this service is the bold and savvy move for your business in these tumultuous times in the corporate world.
Essentially, the theory states that a company secretary’s roles and responsibilities generally involve every essential administrative chore of the business venture; however, the roles and responsibilities of a company secretary can be broadly classified into three areas: the board, the shareholders, and the private company.
It is the responsibility of the company secretary and fundraising consultants for startups to ensure that all the essential and required paperwork and documentation are provided to the board members of the company ahead of every meeting conducted, and further the board procedures and regulations are abided by. These professionals are obligated to ensure systematic compliance with legislation and proper conduct is followed within all the company activities. In addition, they act as the point of contact for shareholders on issues concerning corporate legalities.
The company secretaries must have the knowledge and information regarding company law to ensure that the company is meeting and adhering to all the legal requirements and regulations. In addition, they are responsible for updating and maintaining the registers in case of inspection and further formulating and developing direct reports and accounts.
The secretary will communicate and keep in touch with the shareholders, handling the transfers of shares and any other concerns. In addition, they have the responsibility of handling any preparation and documentation arising before or ahead of board meetings.
Which involve keeping the directors up to date with the information like time, date, and location of the board meetings, developing agendas, preparing documents of the action points at the end of the meeting, and communicating the relevant people about any decision made during these meetings for such as informing the regulatory information service if any decision has been made related to the payment of a dividend.
Investing in a company to perform company secretarial roles and responsibilities on your behalf can offer an ample number of benefits to your business, making an undeniable impact. For example, a company secretary brings the following advantages to the table.
A company secretary maneuvers a significant amount of admin, which generally includes attesting all the required and necessary paperwork and documentation, recording any changes in the company and preparing and governing an account book of stocks and transfers. Therefore, investing in a company secretary brings in professionalism, ensuring that your company follows soundproof business practices and is in compliance with all the legal regulations.
A professional in any field has the knowledge and expertise that they can bring to the table in the form of their work which means that they will be able to determine the company’s needs and provide tailor curated services and strategies for your company’s health and wealth.
The quote “time is money” does hold all the power, especially in the corporal world. Therefore, it is necessary that all the relevant and essential tasks within the business are conducted on a timely basis and do not cross the deadlines. A company secretary and virtual legal officer professional bring in the most effective and efficient methods to conduct business practices, saving you time and hence money.
Recruiting and training employees to become a secretary is a grueling process, not to mention a money-draining process. Therefore, hiring a company secretary will eliminate all those unwanted costs and workload invested into the recruitment and training process. In addition, a company secretary has the knowledge and expertise to complete the tasks related to the subject matter.
Company secretarial firms have the latest trendy technologies available to them, which you and your company can have access to without the installation or maintenance costs incurred to apply them in the business practices and workings
A company secretary ensures that the company adheres to all the legal formalities and requirements to avoid fines or penalties or, in some cases, criminal proceedings, thus reducing the possibility of financial penalties.
CONCAT’S company corporate law services and secretarial services will ensure that your business’s efficiency improves overall by letting your staff concentrate more on pressing issues rather than working on company secretarial roles and responsibilities.
With given competition in the modern industrial world, one must not get satisfied with the best recognition of their business or brand. Instead, it would help if you aimed at being at the top. You can do that by ensuring a worldwide expansion and impression of your brand, for which you need franchise owners for your businesses. But businesses might find it challenging to find franchise owners who will grow their business on a more significant level as the franchise sector in the industry has become more saturated.
A franchise consultant understands the world of franchise ownership and the franchise industry in modern times and works like a guiding angel for businesses in growing and marketing strategy consultants. They abet in speeding the process of launching a new franchise with a precisely skilled owner at the helm. In addition, a franchise consultant is responsible for assisting entrepreneurs in directing their journey to franchise ownership.
In any sector, a consultant is a professional who can provide advice and guide someone based on their knowledge and experience of the world of franchise ownership and industry. They steer those who are not aware of the franchise sector of the industry to the right decision and discovery processes in franchising businesses.
For example, a franchise owner finds you the suitable candidate with the experience to handle your franchise and vice versa; they can find you the suitable brand according to your requirements to open their franchise. A franchise consultant’s responsibility includes assisting entrepreneurs in becoming franchise owners.
They act as both head and assistant coaches. Their strategy or responsibility does not include assisting people in becoming franchisees, but rather in discussing their interests and skills and hence deciding which franchise is best suitable for them. They play a significant role for franchisees by providing them with any help they require.
If you wish to become a franchise consultant, you should have the proper qualification and knowledge of the subject matter. Firstly, you should have passion, interest, and a strong business background through the latest ongoing market awareness. You must have a bachelor’s degree in the subject matter in terms of qualification. The most suitable and appropriate degrees to become a franchise development consultant are accounting, economics, finance, business administration, and marketing.
Essentially there is no particular degree for being a franchise consultant. However, a professional certification can surely fuel your credibility as an industry expert. Several professional organizations provide courses on industry and its working, such as international franchise professional group.
They provide intensive training to the students to ensure a proper and in-depth understanding of industry knowledge. The training course for franchise consultants generally has a time of four to six weeks. It ensures to cover all the required and necessary topics over the subject matter that will provide you the knowledge and tips to become a successful franchise consultant.
The topics covered in the course are: -how to legally work with a client, franchise matching, technology, best practices, and online training. Students will then check their knowledge through an examination and further awarded certifications such as Certified Franchise Executive (CFE) and Certified Franchise Consultant (CFC) after completing the coursework (CFC).
Generally, the average salary for a franchise consultant in India is just over Rs 5,09,580 per annum. However, the best thing about a franchise consulting business is that it can be tailored according to particular requirements, and there is no limit. Therefore, a franchise consultant’s salary may vary depending on the scale, perks, and resources.
In recent years, the business consultation sector has seen tremendous growth in the industrial sector. As a result, the value of the business consulting industry has been estimated at $250 billion, according to the experts. This blog brings you the tips and tricks to become a successful business consultant in this competitive industrial sector.
But before letting you on in these tricks, let us first get a basic understanding of what business consultants are? What are the roles and responsibilities of business consultants? How much do they earn? And what are the tricks and trips to shine as a business consultant in this modern market?
Essentially, a business expansion consultant is a professional advisor who aids the company/businesses in reaching their best potential and achieving their desired and expected goals. They tend to provide practical strategies to streamline the processes of the business. They have the following obligations and responsibilities: –
A business consultant generally tends to make a six-figure salary depending on the factors like education, experience, milestones, type of consultation, etc. according to PayScale, the average annual base salary for business consultants is around $75,000. A business consultant can sometimes charge on a project or hourly basis.
To become an unrivaled proficient business consultant, one must not ignore the importance of intensive knowledge and experience. It would help handy at problem-solving, data analysis, research, etc. We have compiled a list of 15 tips to become a business consultant. These are as follows: –
To become a business consultant, you should have some qualifications in the field. Without qualification, one must have a bachelor’s degree in business management, economics, marketing, etc. You won’t stand a chance among the top-level consultants with intensive qualifications over the subject matter.
Select a specialty area that aligns with your skills, interests, and personality. If you are excited about working with people, for example, you might pursue your learning on sales, marketing, or human resources consulting. However, If you are more of a lone ranger and prefer analyzing data, you could pursue a finance or IT consulting service. There are different kinds of consulting services: consulting services, marketing strategy consultants, start-up advisory services, etc.
Participating in additional courses and your bachelor’s degree will only boost your knowledge and application over the subject matter. In addition, many colleges and online educational platforms provide certified programs on business management.
An alternate way to develop and apply your expertise in business consulting is to acquire a certificate from an industry association.
There is multiple software such as oracle’s PeopleSoft and salesforce, which a business consultant needs to get accustomed to conduct their roles and responsibilities.
It builds your case better if you have relevant industry experience before transitioning into consulting. If you’re currently employed but not yet a consultant, you can also volunteer to take on additional projects that could directly expose you to specific business areas.
Join industry-related social media groups on platforms such as LinkedIn and keep active participation by posting your content and thoughts and commenting on other people’s achievements and posts. It keeps you aware and in the loop and helps you build an enriched network circle.
It’s imperative to start building a network of business and industry contacts to help you find new clients and opportunities for professional growth and expansion. Attending Conferences and seminars from renowned professionals can be a great place to network with other business consultants and management professionals.
No matter how much education, knowledge, and qualification you have in your pocket, you must polish your presentation skills to engage your customers, clients, and audience.
You can run your blogs and actively post on LinkedIn and Twitter. In addition, you can start creating your online presence by following business consulting services thought leaders on various platforms participating in virtual discussions and conferences.
You don’t have to expense a considerable budget to properly market yourself as a consultant. Instead, you can do that on a smaller level through blogging, writing articles for a professional website or journal, conducting a survey, or any other inexpensive avenues for marketing.
Always prepare a backup plan or worst-case scenario alternative even when you have a soundproof plan and work without breaking a sweat. Maintain a professional attitude at all times.
Consultants’ aim is not to make clients dependent on them but rather to ensure they get the most return possible on their investment. Therefore, you should not invest yourself emotionally in any project.
You should prepare a testimonial file containing testimonials you’re your clients to provide credibility to your experience in the future.
Relationships and goodwill are everything in the industry. You can make double the money with goodwill and strong professional relationships. So always make sure to provide quality work to your clients.
At Concators We offer fundraising consultants in India at an affordable price. Our main motive only is customer satisfaction.
A shared services approach can help HR departments deliver employees more quickly and effectively. It decouples operational and strategic duties, following each department to provide the best employee experience possible.
HR Shared Services is a centralized hub for HR administrative and operational duties, including features such as employee self-service and technology-assisted automation, as well as multi-tiered service levels and response times. As a result, firms may deliver essential HR services at the lowest reasonable cost.
HR shared services offer several benefits to your firm, including:
The division of responsibilities allows HR experts with more experience to concentrate on strategy. Human capital indicators that link the department’s success to the company’s strategic goals expand the number of ways to assess HR’s effectiveness. As a real business partner, HR must participate in formulating the business plan. It ensures that people management and a positive employee experience are prioritized in its business plan.
Every time you have an HR complaint, it is handled in the same, consistent manner, ensuring that you follow all applicable rules and regulations. This results in a better employee experience and a decrease in internal risk.
To achieve operational excellence, administrative duties might be assigned to defined tasks. In addition to offering improved virtual HR services, operational excellence increases employee experience and efficiency.
Employees can deal with their problems and locate critical information quickly and conveniently. This improves their digital experience as well as their employees’ overall experience. Employees have come to expect all systems to be interesting, simple to use, and suit their needs. This includes the systems with which they engage at work. Employees become frustrated when there is a disconnect between what they expect and what they receive.
HR shared cost-effective services can help firms save money in various ways. For example, transactional HR services require fewer highly skilled HR specialists, resulting in cheaper personnel expenses. Additionally, cost savings are facilitated by the efficiency gained through service streamlining and simplification.
According to organizations and HR departments, employee services should always be efficient and cost-effective. Therefore, HR transformation into HR shared services can be a fantastic approach to improving employee experience. While also freeing up-time for you to focus on developing an HR strategy that aligns with your company’s objectives and goals.
Leaders must consider the challenges and take proactive efforts to address them before investing in HR shared services. Long-term investments in pooled HR services are made. As a result, to continue to benefit from an effective HR shared services model, firms must have visionary leadership, be willing to continue investing in utilizing technology, and develop the competencies of HR shared services staff.
Concators is a large B2B marketplace specializing in cross-functional outsourcing, startup consultant, and execution. In addition, we provide chartered accountants services, virtual human resources, and other services. For more information, call us at 91.9555626263.