How to get customers to pay on time

How to Get Customers to Pay on Time

Having customers that pay their invoices on time is critical to the success of any business. Late paying customers affect your cash flow and therefore your ability to meet your own obligations. In most commercial transactions customers pay their invoices in 30 to 60 days. This is commonly known as offering terms.

Offering terms to a customer is no something that can be taken lightly. Many business owners like to congratulate themselves when they close a big sale and send the invoice to the client. Careful owners save the congratulations until after they get paid. But how do you make sure that customers pay you on time?

There are a number of things that you can do to make sure clients pay one time. Apart from delivering good and timely services, the most important thing you can do is check their commercial credit rating. This will tell you whether they have paid their past suppliers in time. Although not a perfect indicator, it’s useful to know. For example, if a potential client has a track record of paying all their invoices 90 days past due, what are the chances they will pay yours on time?

It’s usually a smart strategy to check a clients commercial credit before making the actual sale. One additional thing you can do to help customers pay on time is call them soon after delivery to verify that they are happy with the work/product. Lastly, always verify that they have the proper paperwork (invoices/etc) to process your payment. Many payments are delayed simply because vendors forget to submit the proper paperwork .

Sometimes, clients simply pay slowly and there is not much that you can do about it. This can wreak havoc on your cash flow and threaten the stability of the business. If this happens, you should consider invoice financing.

Invoice financing is an innovative form of business financing that provides an advance payment using your invoices as collateral. Invoice financing is a convenient alternative to business loans that offers substantial flexibility. Although not a cure all, invoice financing can help companies whose biggest problem is that they can’t afford to wait for their clients to pay.

Information on multiple streams of extra income

Information on Multiple Streams of Extra Income

A steady monthly extra income is a dream for many internet marketing professionals. The main reason behind this is their ignorance of sustaining regular streams of extra income and their total focus on singular product or program promotion, which may or may not yield income as per their needs and targets.

Let’s analyze the basic strategies and secrets of earning a steady extra income month after month.

1. It is very important to have multiple streams of extra income — following our age old idiom and coming from experience «Don’t put all your eggs in one basket». This applies to all spheres of life, even to online businesses.

2. Extra income from more than one source will put you in the secure bracket. If one stream fails in a particular month, the others will cushion the fall. Imagine not getting your paycheck for one month on a regular job, the plight needless to say would be unimaginable.

3. All online businesses are capable of having multiple sources of income. For example, if you have a commercial website that sells products you promote. You can earn by the regular promoting and sales of products, at the same time you can also earn by selling advertising space on your site. You can use the same site to promote affiliate programs; this would add another stream of income and so on. Working 2 o 3 jobs at a time might be strenuous and illegal in some countries, but in case of online businesses it is absolutely possible to work more than a few jobs at a time to have multiple streams of extra income. This is not really difficult if you put your mind into it, although you may have a little more time online. You are actually milking the same amount of resources and costs to get more out of it.

4. Multiple streams of extra income is a requirement to get a consistent result (dollar wise) month after month. Having multiple streams of extra income will only increase your income and will never hurt the bottom lines.

This does not mean that you have to overburden yourself creating these multiple lines of extra income. Take it at your own pace, one after another. Work on one stream; streamline it for say 2 or 3 months, move on to the next, when the first has settled at a particular level.

Being secure is the most important objective of creating multiple streams of extra income. Over stressing or fretting over them will yield below average results and ultimately do not work out because you will be prone to making more mistakes.

Be careful in choosing your multiple streams of extra income. I t is always advisable to have them interrelated to each other, all of them culminating at your core competence to achieve better and fruitful results.

How outsourcing helps your business

How Outsourcing Helps Your Business

Outsourcing is the new buzzword in the business community. However, the question of why businesses outsource their business process is still being asked by a lot of people. Surely, outsourcing would create a lot of profit for a business. Besides, why would businesses outsource their business process if they won’t make any money out of it?

Aside from saving a lot of money from outsourcing, companies that want to unburden themselves from heavy workloads caused by the growing demand of their work by the public resort to outsourcing to do the job they should be doing. Businesses today hire outsourcing companies from different countries to do a part of the business process in order to save money on labor and also expand their capabilities.

Since there are a lot of skilled individuals in developing countries with little chance of employment, outsourcing became one of the best industries considered by a lot of talented and skilled individuals in developing countries. In terms of salary, outsourcing provides cheap labor compared to getting your companies work done in-house. For example, in the United States, you would pay a qualified professional about 100 dollars to get the job done. However, outsourcing the job to other countries will only require you to pay 20 dollars to get the same job done with an equally qualified professional and at the same time, keep them happy.

The minimum salary rate in developing countries is much lower compared in the United States. This is why outsourcing can save your company a lot of money in terms of salary payments.

These are the benefits that your company can take advantage of in outsourcing. Cheap labor with equally qualified professionals in other countries can definitely save your company a lot of money on salaries.

However, before you try and outsource part of your company’s work, you have to determine if the outsourcing company is the right company for you. Find out if the company is hiring qualified and are skilled professionals with skills related to your business. This will ensure the best quality for your outsourced jobs.

By first checking out the quality of work from an outsourcing company, you will be able to determine if the work done by them is up to par or not. If it is not, you can always go to other outsourcing companies and check out the quality of their work. Doing this will enable you to find the company that will meet your standards.

You also have to consider if the professionals who will be handling your outsourced work is qualified to do the job. Besides, you don’t want a talented programmer to do the job of a mechanic. You have to know the specialty of the outsourcing company and determine if they will be able to perform the job you will offer them with quality and efficiency.

Outsourcing will answer your businesses financial and production problems. If you are looking for a way to save money and at the same time increase productivity, outsourcing is the right choice for your company. Not only will you save a lot of money because of cheaper labor compared as to the rates in your country, but you will also have the same quality of work that the equally qualified professionals in your country can do at a much lower price.

With outsourcing, your business will be able to grow and also decrease the burden of heavy workload.

Id card security issues via lamination

Id Card Security Issues Via Lamination

The ID card market has changed over the past several years as affordable solutions have reached the marketplace. Today, someone can purchase an ID card printer for less than $2,000 that provides the ability to print plastic photo identification cards. Now there are other elements that are required such as software, digital camera and computer, but the solutions have definitely stepped down from being unreachable as far as price is concerned. There are several solutions that have been introduced to prevent fraudulent identification cards from being produced and we want to review a few to help you understand them.

One of the earliest forms of counterfeit protection methods is what is found on almost any form of paper currency regardless of its country of origin as well as on many of today’s government identification cards. It’s the line artwork found on the corners and borders and it’s called Guilloche printing. This methodology of counterfeit protection was developed when copy machines were not as sophisticated as they are today, during a time when counterfeiting required someone copying the details as an artist would copy a painting. Today with the advances on imaging and digital duplication, this form of counterfeit protection is just not sufficient; therefore there have been many new methods introduced.

Many of these new types of forgery prevention have had to do with the lamination that can be placed on top of an ID card. There are many reasons that this lamination has become one of the fullest proof methods of ensuring identification cards are original and nearly impossible to duplicate. Before we begin to discuss the different types of security placed into the lamination, it’s important to understand that presently there are only two companies in the global marketplace that produce this secure lamination technology. Each of these companies also allows the customer to register the lamination produced. This alone creates a barrier to duplication simply because of the limited sources. There are other facets that cause the technologies within lamination to be hard to duplicate and the cost barrier is one of them.

To produce a lamination for a particular purpose, a design has to be established. Producing this design can cost anywhere from $3,000 to $10,000 based on the technologies embedded into the product. Then after the design has been created and registered, there are minimum orders that must be met. Therefore, if you consider the cost of trying to duplicate an ID card utilizing this technology, you have to include the cost of the equipment plus the cost of getting a design created (if possible, because of the limited companies in the market and the registration of the imbedded marks) and then the minimum orders required to get started. Ultimately to produce a good forgery today, someone would have to spend approximately $20,000 or more US dollars to be able to do so. And again, that would be if they knew the right people that could even make something like this happen since there are presently only two organizations that produce ID card secure laminations.

Now that we’ve discussed the difficulty in duplicating the laminate and the expense involved, let me explain why the expense and difficulty. State of the art technology has been developed and embedded into these laminates including security features such as holograms, micro and nano text, laser visible imaging, and ultraviolet colors. Each of these items are available, each at a cost when it comes to producing your secure laminate for your identification card needs. Regardless of the initial cost, once these technologies have been incorporated into your overlaid laminate, you alone have the ability to purchase this exclusive custom secure design.

There are companies in the marketplace that have the ability to assist in designing your identification cards as well as assisting in the setup of security features such as RFID and the lamination techniques discussed here. One of the companies we should mention is www.FullIdentity.com: this organization specializes in producing photo identification cards for companies of all sizes as well as governments and government agencies. Some of the many projects they have underway include national identification cards for existing and emerging nations. At the present time they are unable to disclose many of the projects that have begun; however, they are stepping up as one of the leaders in the industry.

As many of the older technologies utilized to prevent fraudulent duplication of identification cards have become easily imitated, one of the best methodologies in today’s marketplace to prevent duplication is the use of highly sophisticated laminates. There are other forms of forgery prevention, but not many of them are as affordable on a per card basis as today’s laminate technologies. Who knows what the future holds, but for now, there are not many better or more affordable solutions.

International trade & the role of china sourcing

International Trade & the Role of China Sourcing

International trade is no longer difficult and has received a good momentum in today’s world. It has become very convenient and generally all the nations are rallying to increase their own share in international trade. One of the reasons for the same is IT infrastructure and B2B boom. It can be said that B2B plays a major role in development of international trade by removing barriers in business. It has become not only a booster but also a supporter that is useful even in tougher times. It has not only made communication cheaper but also helped in establishing a global market where all the countries have unbundled their bags of opportunities. International Trade plays a very big role in the development of a country and exploring its talents into a Global market.

And if a topic is discussed for international trade it is not complete without discussing a country like China. China is considered as one of the healthiest exporter world wide and stands no. 1 in Asia. It has got a huge market for outflow of its products to other countries. It also imports in a large quantity but China manufacturers hold a very good market in production. Their portfolio managers manage very well and find out the resources for their products to make their products cheapest in the world. We can easily watch China manufacturers in almost each country. These prove the capacity of their production.

China sourcing is not only favored in the established world wide markets, but also play a very good role in supply of various products to multinational companies. This helps them grow easily and that too with a good margin as it gets the cheapest product from China. It is a hub for the electronics goods. Majority of the multinational electronics companies have a tie up with China manufacturers for their products, as it proves to be much more cost effective compared to other products. The quality given by China in International trade does not acquire a good position, but due to its cheap products it covers ups its market easily.

China at an international level of trade provides various products, it has got a potential to produce each and every product with a brilliant man power. This results in a very good output forcing them to throw it away in the international trade. Moreover, due to its cheaper products companies do get attracted and forced to have a contract with them in order to compete in the international trade. The portfolio managers easily create their client through out the world in order to have a grip towards the international trade and increase their own market. Moreover, Asia continent has got number of developing nations. Multinational companies seeking over this nation can easily get goods by China Sourcing. Apart from that, being geographically located in Asia, China has a very good scope for expanding its market in its neighbor developing nations and acquiring chief place in such markets. It has a very good command over the electronic goods parts, materials made up of plastics, some of the ingredients of the drinks and lots more. China Sourcing has proved to be value for money with a wide range of variety not only for itself, but has also become one of the best international traders amongst the developed countries in the World.