Key Business Concepts 101: The Balanced Scorecard

By: Lotfi Al-Sarori

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The Balanced Scorecard is a very popular strategic management framework, and it will be the subject of this article of our Key Business Concepts 101 series. The Balanced Scorecard (BSC) is a management tool that has grown in prominence since its introduction by Kaplan and Norton in a 1992 article in the Harvard Business Review.

The BSC can be used to create, carry out, keep tabs on, and modify corporate strategies and plans. As a strategic management tool, the BSC aligns a company's everyday actions with its long-term goals. The ability to monitor and quantify performance is another benefit. Financial, customer, process, and learning and growth are the four main pillars around which the company's strategic initiatives are built. The purpose of this effort is to develop a streamlined and simplified dashboard that provides a comprehensive view of the company's performance from these four perspectives.

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?

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.