How microfinance is making communities prosper

By: Lana Bawa’neh

A lot of people, or even small organizations, might face complications in obtaining small loans and other basic financial services. Microfinance is a key strategy that can support people in such situations. It enables them to become financially independent by fulfilling their financial needs and allowing them to achieve their goals in times of economic difficulty. This is where the need for microfinance institutions comes into play to help those people or organizations grow and flourish.

Microfinance institutions make it easier for people and small enterprises to access loans, insurance, and investments and get the money they need to improve their businesses.

e-Banking trends are on the rise worldwide

By: Omar Abdulhafiz

In the past few decades, our perception of the things that are most essential to our daily lives has been transformed more than ever before. With the gradual and accelerating evolution of telecommunications technology, these gadgets have slowly become elementary parts of our lives as utilities such as water and electricity. Not having a phone at home, for example, may cause us to feel as if we are completely isolated from the outside world. And it does not stop here.

Fast forward to the second decade of the 21st century, even the ordinary phones are slowly becoming more like pieces of antiques, as these little powerful devices known as smartphones replace them. It never escapes us to liken their fate to that of typewriters as they were replaced with personal computers toward the last quarter of the 20th century.

The power of process automation in the microfinance sector

By: Lana Bawaneh

Handling financial lending processes can be way more complicated than what you may think, while managing them manually may slow down the process. Institutions, especially financial ones are competing in offering their services quickly as well as improving their profits while avoiding any errors.     

Having a digitally-driven system that provides a full cycle of lending management helps a lot. It enables microfinance organizations to facilitate the process of their borrowers to get money. Many financial institutions are moving toward becoming digitalised, but upon considering such a big step for your organization, you must think of how an automated lending process will benefit your organization?

The 5 Must Have Software Systems in Every Organization

By: Lana Bawa'neh

There is no doubt that technology is a key factor in almost every business nowadays. Not only in businesses, but it has made our lives much easier than ever before. Technology has been and will continue to be an essential part of our lives. 

These days, a lot of organizations and companies are investing in advanced software systems to get their work done quicker with higher efficiency. These tools were made to stimulate growth and make businesses more competitive.

In this day and age, these companies depend greatly on these software systems and it’s becoming more and more uncommon to be seen not using them. So, whether you are starting a new business or you already have one, software tools are the way to go. In fact, there are some must-have software systems that you need to have in your organization to bring out the best for your business.

Balancing spending during the pandemic

By: Cesilia Faustina

Since the start of the COVID-19 pandemic, the economy has been on thin ice all over the world. While some are adapting to online workspaces, some are greatly struggling with unemployment and the need to continue working despite the risks. It is clear that COVID-19 is showcasing some clear winners and losers in the industry spectrum.

Companies that focused on marketing products online are soaring compared to those who don’t. Other than that, digital communication tools like Zoom and online food delivery services are also increasing. According to data from Avalara, since the start of the pandemic there has been a decrease for items unnecessary to everyday life and there was a huge increase in survival, hobbies and home entertainment supplies.

The value of financial management and ERP systems in organizations

By: Cesilia Faustina

The global ERP market is expanding and is continuously on the rise. In the wake of fraud and Allied Market Research, the global ERP software market was valued at $35.81 billion in 2018 and is projected to reach $78.40 billion by 2026. This shows the true power that ERP can have for industries, so why exactly is that?

misinformation and rising demands, it is clear to say that ERP systems are becoming more important for industries today. According to Allied Market Research, the global ERP software market was valued at $35.81 billion in 2018 and is projected to reach $78.40 billion by 2026. This shows the true power that ERP can have for industries, so why exactly is that?

Why HR software is the key growth driver in human capital management

By: Cesilia Faustina

The most important asset of a company is its employees. Ensuring that your employees are taken care of and managed effectively is a key achievement for one’s company. Therefore, HR will always have to stay on top of relevant affairs. This is why various companies from different industries are implementing software solutions to help reduce the operational hassles. Managing all employees is surely going to amount to a sack of workload and therefore companies look for ways to maintain that workflow and create a more conducive operation.

Accounts Receivable in Financial Management Systems

By: Ola Azzouqa

Financial software is at the core of today’s business organizations. Companies need to ensure that their financial flows are well-established and will not cause any disruption, which is why many companies are moving towards digitalization.

A financial management software system enables companies to quickly assemble financial statements and balance sheets. It eliminates long and complicated manual processes and provides the necessary data to make important business decisions. Moreover, it can break down departmental barriers and enable employees to gather data quickly from both inside and outside their departments.

Authorized employees can access information immediately after it is entered in the system, rather than waiting for data update. This reduces settlement cycle time, lowers administrative costs and frees resources so they can spend more time on value-added activities.

What to look for in an ERP Software Suite

By: Lotfi Al-Sarori

An ERP (Enterprise Resource Planning) is a suite of integrated software systems that work together to optimize the various business processes in a company. Systems comprising an ERP suite usually use a common unified datastore, have centralized administration, and operate in real-time (or near real-time). Like any other business software, ERPs must provide solid system security, effective access control, and flexible user rights management.

Enterprise Resource Planning Software Demystified

By: Lotfi Al-Sarori

Enterprise Resource Planning (ERP) software has been in use for over 20 years. In fact, its predecessor, MRP (Material Requirements Planning) software, used in manufacturing and production planning, has been around since the 1960’s. Many software companies around the globe today offer a plethora of ERP software systems that have a wide range of capabilities and features and for various purposes and industries.

However, in order to understand the importance of ERP, let us first get to know what ERP systems are.