Sofia Benjamin | WorldWideFido

Why Your Online Business Should Embrace Bitcoin

March 12, 2020 Sofia Benjamin Online Payment

If you run a business online and still rely on traditional payment methods, you are trading at a disadvantage. Card payments may be based on the transfer of digital information, but they were not invented with the internet in mind. Accordingly, they are cumbersome, slow and leave both the buyer and the seller open to fraud or the theft of sensitive information. Commonly-used online payment methods like PayPal are not so much the solution to this problem as a way to exploit it, with big profits going to the provider.

Cryptocurrencies are the only payment method created by and for internet natives. They represent a digital currency for a digital era and, of course, the most well-established cryptocurrency of all is bitcoin. Although it has many rivals, bitcoin is presently the most secure and widely accepted cryptocurrency on the planet. It is also the one that has gained the most in value since it was introduced in 2009.

Instant payments

One of the biggest advantages of using bitcoin for online businesses is that it allows you to send and receive payments instantly. This is because bitcoin is a decentralised digital currency that is traded over a peer-to-peer network, with no third parties taking their time processing the payment. With conventional payments sometimes taking up to several days to go through, especially in the case of international arrangements, this is a huge advantage.

As well as speeding up your business dealings, accepting bitcoin also allows you to meet the needs of your customers more quickly. In the modern age, where everyone expects immediate service, this gives you a distinct advantage over your competitors. Telling someone they have to wait while their payment is processed is tantamount to saying they might as well shop elsewhere.

Lower transaction fees

Compared to banks and …

Corporate ERP for Multinational Enterprises: Microsoft Dynamics and SAP Business One

February 22, 2020 Sofia Benjamin Online Jobs

In this small publication we want to guide you through the multinational corporate ERP selection and implementation phase, where we use real case studies of our international ERP consulting practices:

1. Corporate ERP at US Headquarters

Here you often have little room for change, because your organization may have invested a few or even years ago for an intermediate accounting application and everyone is happy with this historical choice. In our example, we assume that your company’s ERP is Microsoft Dynamics GP, previously known as Great Plains Dynamics or enterprise. Let’s assume that Great Plains is in production and you have a strong number of FRx financial statements to cover the Financial and Managerial Accounting versions of the Balance Sheet, P&L, Cash Flow Statement with the consolidated version

2. Overseas manufacturing facilities.

Let’s assume that you acquired a company in Brazil, the Sao Paulo area if now you need to apply a local accounting application. The first idea might be the following – we have already purchased a Dynamics GP license, why don’t we add a new company to our current Great Plains installation and are our operations in Brazil recorded there? Well, theoretically you can do that, but there are a few things to consider. First, you must be aware of the ERP you choose is translated into Brazilian Portuguese, and second – is your ERP compliant with Brazilian law? If you do your research, call the Microsoft Dynamics subdivision, you will get the answer. Instead, Microsoft might recommend you to use Dynamics AX, previously known as Axapta, or as an alternative backup – Dynamics NAV Navision. Great Plains Dynamics GP was not translated into Portuguese or localized for Brazil

3. Dynamics AX Axapta for Brazil

Yes, this is what you should consider first. AX is very strong in …

» Read more

International Business

Demat Account for Minors

February 20, 2020 Sofia Benjamin Business Trading

Being able to exercise financial discipline and understanding how investments work are important life skills. And an early start could hold the key to a secure financial future. Even minors can get a taste for investing through a demat account. Age is no obstacle, for one does not have to be 18 years old to open demat account and start investing.

How to open demat account for minor

While a minor can hold a demat account, it must be opened by their guardian (either a parent or a court-appointed legal guardian). The guardian operates the account on behalf of their young ward.

The account opening process is quite standard, but there are some deviations. For starters, not all depository participants (DPs) provide demat accounts for minors. So, one should check if the facility is available. Next, upon choosing a suitable DP, the following documents must be submitted to them:

Demat account opening form, duly filled in
Two Know-Your-Customer (KYC) forms for minor and guardian
Age proof of minor
PAN card and address proofs of both minor and guardian

The application form and other documents can be submitted online or offline. Certain account opening fees will apply, although the charges tend to vary across DPs. Following receipt of the documents, the DP will verify the application. Once the processing is complete, the account details will be issued.

Restrictions of demat account for minor

A minor can hold a demat account provided certain conditions are met:

The account must be opened and operated by the guardian until the child turns 18.
There cannot be a joint holder.
The account can be used only for delivery trading. Intraday and derivatives trading are not permitted.

Advantages of demat account for minor

Demat account opening early on has certain benefits:

It teaches financial planning

International B2B Portal Helps Increase Your Global Business Market

February 14, 2020 Sofia Benjamin Online Payment

There is great competition in every business today which traditionally conducts international trade is very difficult. For that, we need a very large investment of time and money. In the beginning, international trade in small businesses was almost impossible due to lack of resources, only large businesses were involved in international business. Today, the internet has brought drastic changes to the business scenario. With the help of information from the B2B portal today not only big businesses but small businesses also carry out international trade. These portals offer international trade services at economical prices. The resources needed to do business through online trading portals are very few.

B2B Trading

B2B trading is a transaction between a business and its volume is higher so every trader must be careful about safe trading. To get international trade from the online Business to Business portal, you must register and post-trade leads. The online trading portal offers various membership options such as free membership and premium membership. Premium members are listed at the top and often get more business than others. Employers must upload all information on the portal. After the information is uploaded, the information remains there for a long time as needed. This means the effort needed to maintain an online presence on these sites is also lacking. Businesses can also update their information from time to time if needed.

Buyers

People from all over the world market can see company products, company information, and place orders online. Buyers can also ask questions and clarify their doubts. Online trading portals help reach global markets easily. Uploading videos, product images, and other information help better understanding of the product. In online marketing, perfect product descriptions and attractive images play an important role in attracting customers.

Traders

Traders can post mass products and services …

» Read more

International Business

Become a Greener Business and Save Money at the Same Time

January 30, 2020 Sofia Benjamin Music Marketing

Thousands, if not hundreds of thousands, of businesses across the UK, could find themselves saving money if they were to become a ‘greener’ business. Making small changes to the everyday running of your business – regardless of sector – will see significant if not dramatic changes to your monthly outgoings for electricity, heating and phone bills. Becoming a greener business will not only help you to save money in the long run but could also improve the image of your business and thus increase turnover.

Air Conditioning of Place of Work

The easiest way to save money on your heating bill is to set up a thermostat so your office or business premises is not being heated out with working hours. Heating your place of work unnecessarily is a pointless exercise that only runs up bigger bills and damages the environment in the process. Upgrading your heating system altogether can be a costly process for saving you money in the long haul so looking at what kind of heating system you currently have is also advised. Investing in some traditional means of preserving heat is an alternative, short term fix that includes having windows insulated and a draft excluder fitted to the bottom of every door.

Avoiding Poor Use of Electrical Devices

Lighting and poor use of electrical devices such as computers are the two main components that are thought to contribute to expensive electricity bills. Installing occupancy sensors to control lighting in offices, copier and staff rooms will help reduce the amount of electricity being consumed unnecessarily. Switching regular light bulbs to long life, energy savers is another good tip as is replacing fluorescent strip lighting with some more economical and environmentally friendly. Making sure you and your staff take a moment to switch off computers and copiers before …

» Read more

International Business

1 2 3 … 26 »