Crucial outlook of VAT compliance

 Rapid changes in business activities around the world and updated legal formality have made VAT registration challenging. Correct information reporting and also transparency while staying current on VAT compliance has to be met with a limited amount of time.

A taxpayer should update or amend the Federal Tax Authority (FTA) on any circumstance which has a direct impact on the records kept by FTA that was given during the initial registration period, and that too within the timeframe set by FTA.

Few circumstances that don’t need approval from FTA are:

• GCC activities
• Customs registration information
• Business activities

But some amendments need approval from FTA. In this case, you can hire us to get help with the process. We are one of the best accounting firms in UAE.

We have highly experienced and approved auditors in Dubai. They will make VAT registration in Dubai seamless concerning the fields that need FTA’s approval and some restricted fields as well.

Our team has VAT compliance experts who will help you prepare and execute VAT registration amendments with the best accounting software with VAT. We offer a wide range of accounting services in Dubai as well.

5 Golden Reasons for You to Become a Business Consultant

 You may have heard about business consultancy many times and, therefore, you have been wondering if being a business consultant would be a good option to put yourself back in the job market. Perhaps you are thinking that this is not the best time to invest in  a  consulting career , after all, we are still in a time of crisis. However, this area has been identified as one of the most successful in the business world.

The reason for this success is the fact that large companies that are fundamental to the economy, such as banks, industries and commerce, use this service on a daily basis to increase their capital and expand their businesses.

The assistance of a business consultant has been shown to be fundamental for companies, NGOs (Non-Governmental Organizations) and even public entities to achieve their strategic objectives and improve their operations. In other words, the market is increasingly dependent on consulting services and this is the best time for you to specialize and start providing the service.

Do you still have doubts if this is the best way? Check out our 5 golden reasons for you to become a business consultant.

What are the activities of a Business Consultant in UAE?

The consultant is a person who works from ideas. In addition to the skills related to the analysis and processing of numbers and the ability to observe the business, finding positive and negative points in the operation, the professional must be passionate about ideas and work so that they take shape and make a difference in the life of the company. and its collaborators.

The work is done constantly in teams with the aim of solving the greatest possible number of customer problems. This task may involve cutting costs, process efficiency, new markets and many other possibilities. The duration of the projects may vary and they are usually carried out at the client's company headquarters.

The consultant is always surrounded by people and works at all times as a team, so it is necessary that the professional has a profile that fits these relationship needs.

The first phase of the project is called diagnosis and is a more analytical phase. It is necessary to understand the client, ask the right questions, analyze reports and observe the day-to-day of the company to understand what is already done and how the consultant can reach the desired goals.

In the second phase, a strategic plan is drawn up so that the business can leave the situation in which it finds itself and achieve the desired scenario. It is very important that the customer is within the entire strategic process, as he is the one who knows the business best.

 

What is the importance of business consulting?

The business consultancy activity is an exchange relationship between the organization and the professional, aiming at an objective or the formulation of  solutions  to problems. Choosing a good consultancy is the best way for the company to count on the support of highly trained professionals with experience in the market.

The consultant will assist in making strategic decisions and will find the best way to obtain results. That is why the career of a consultant is so important, even in times of crisis.

 

What are the main reasons for you to become a consultant?

If you are still unsure about becoming a business consultant, we will list some golden reasons for you to put this idea into practice.

1. You will be able to choose your area of ​​expertise

There is no point in accumulating diverse knowledge over the years and not putting it into practice. As a consultant, you will be able to work with the area you love and specialize in. This is one of the few professions that makes this choice possible.

It is important to observe the behavior of more experienced professionals in the chosen area, so as to seek maximum professional qualification to make your environment more organic.

2. You will own your own business

Being a business consultant you can make your own schedule, obtaining greater flexibility and flexibility in the agenda. This will allow you to set aside more time for your family and the things that are important to you.

The routine of a successful consultant allows the professional to be free to choose his clients and determine his work routine.

3. You don't need physical infrastructure

To start a consulting business, you do not need to make a large investment in physical infrastructure or even in employees. The  cost s  to start work in the field are basic and downs.

It will only be necessary that you are committed and have the necessary knowledge to  sell  your project and apply it to your client's business.

4. You can help companies achieve results

After years of study, in addition to being able to put your knowledge into practice, you can still help hundreds of people and companies to achieve their goals and achieve the best results.

Helping a company to restructure itself  financially  is priceless. In addition to the owners of the organization, you will also help families that depend on this business.

5. You will have a great financial return

In addition to flexibility and freedom, as a business consultant, you will  earn more  than you would if you were a formal worker.

Everything will depend on your performance and results. By providing consulting services, you will be much more valued and your value / hour will multiply.

When pricing your work, remember to consider all expenses, such as phone, travel, internet, food and parking. If your customers are in different cities, you will need to travel frequently, so it is important to take these expenses into account.

Now that you know what the activities of a business consultancy are, their importance and what are the golden reasons for becoming a business consultant, you probably already understand why the area is growing more and more, despite the crisis.

 

Read also: Are you looking for Auditors in Dubai

 

Do you feel that this is the opportunity that was missing to seek your replacement in the market? Are you ready to start your journey? If you have any doubts about your career as a consultant, please  contact us  so that we can help you take this step in search of success.

What is outsourcing and how to benefit from it?

 It can be said that outsourcing is the strategic use of external resources to complete the tasks that are traditionally performed by the staff of a company. In simple terms, to define what outsourcing is, it should be noted that, since not all work can be carried out internally, outsourcing makes it possible to delegate specific parts of a project or a service offer to third parties, service providers. Efficient services, who are experts in that particular field.

 What is outsourcing?

 To break it down even further, we could say that outsourcing is the process by which a company seeks the support of an external firm to carry out specific tasks, so that they can remain focused on the core / most important aspects of their business.

  It is easier to understand what outsourcing is with examples. Thus, in the case of a software development company, the main strength of the business lies in the design and creation of innovative applications, but there are other important parts of the company, such as payroll processing, IT infrastructure or the Customer Service.

  Dedicating oneself to these activities, which are not part of the core of the business offer, implies taking time away from development and, therefore, those who know what outsourcing is and what benefits it has do not hesitate to turn to third parties. Outsourcing & Payroll provides the opportunity to obtain the services that are needed, at a lower cost and with the expert guarantee of offering the best results.

 What types of outsourcing exist?

 When talking about what outsourcing is, it is inevitable to mention the different types of outsourcing that exist. They are three:

 ·         Business Process Outsourcing, which involves a third party taking care of certain operational functions, for example, customer services, payroll, accounting, or inventory.

·         Outsourcing of knowledge processes, an option that requires more advanced technical skills, since this is required for the services that can be outsourced in this category, such as legal, content writing, research and data analysis, among others.

·         Information Technology Outsourcing, including specifically technology-based functions such as software and application development, network administration, and web development.

 What are the benefits of outsourcing?

 If there were no outsourcing, the cost in time and money of completing any process would be incredible. Let's start by assessing what it would take to write a report. We are not just talking about data and its analysis, we also need graphics creation applications, word processors and, of course, a computer. Although it is an extreme example, it is clear that starting from scratch is hard in most situations and that outsourcing saves a lot of money.

  In addition, those who understand what outsourcing is, are also aware of some additional advantages, such as:

 ·         Boost to efficiency. Outsourcing provides the opportunity for businesses to take advantage of the many years of experience and know-how of the contracted company.

·         Possibility of putting all the attention in the central areas of the business. Outsourcing specific tasks to third-party professionals frees up time and energy that can be channeled towards branding or used to invest in research and development, while ensuring that you can offer customers better value and services.

·         Access to qualified resources. Thanks to understanding what outsourcing is, it is no longer necessary to train and train staff in new tasks.

·         Opportunity to offer a more agile and improved service. Outsourcing makes it easy to turn ideas into products in the shortest time possible.

 Outsourcing is present and future at a time when companies are becoming more flexible and beginning to develop horizontally. Do you already know what outsourcing is? Ready to put its advantages at the service of your business project?

Read also: Auditors in Dubai

 The audit is one of the best known financial resources. Although it does not always have the same objectives, since these vary in each case, in a generic way it can be defined as an examination of the accounts and assets of a company, as well as the result of internal operations.

 What is an audit: definition?

 An audit examines and evaluates the operation of a company from one or more perspectives. You can focus on your finances, your accounts, quality or job security. It can be oriented towards a specific goal, such as sustainability; or limited to ensuring that the organization aligns with the enforceable regulatory requirements.

 Audits look at things like financial statements, ledgers, processes and procedures, workspaces, or products to be marketed. Many companies have routine audits once a year, while others only does them on time, for specific reasons.

 What is clear is that, in addition to being great allies of compliance, audits can help to detect problems within the business and, in the long term, help to direct the company and boost its results.

 Who can do an audit?

 An audit must be carried out by a person in charge or a group of people specialized in this matter, that is, who have a corresponding qualification and demonstrable experience, in addition to having independent criteria.

 Objective pursued by the audit

 Every audit has the objective of preparing a document in which the results of the process are collected and that, at the same time, serves as a reference for third-party agents, whether they are members of the company itself or of an official body or institution that has requested the start of the Auditors in Dubai.

 Audit characteristics

 There are six auditing principles, on which auditing is based, in accordance with the ISO standards:

 ·         Integrity: any audit must be based on professionalism.

·         Fair presentation: Each audit has a responsibility to report its findings not only accurately but also truthfully.

·         Due Professional Care: Each audit should be conducted in such a way that good judgment and due diligence are applied to the process.

·         Confidentiality - Much of the information that is collected and shared during an audit is confidential in nature. Your safety must, therefore, be properly ensured.

·         Independence: the audit, whether carried out by an internal or external auditor, must be impartial and the conclusions must be objective, without being influenced by any member of the organization's management.

·         Evidence-based approach: The audit conclusions must be reached in a rational manner and must not only be reliable but also reproducible. The only way this is possible is for the audit process to be systematic and evidence-based.

 Main types of audit. Which one suits me best?

 Auditing as a legal resource has evolved in recent decades, giving rise to various specialties. At present, 5 main types of audits are known that differ basically by the objectives and the agents that carry them out.

 What kinds of auditing are best for the business?

 Let's see what each of them consists of:

 1. External or legal audit:

 This is an examination of the accounts that is carried out by legal request. The idea of ​​the procedure is to verify that the financial status and operations of a company agree with the official records. In these cases, the auditor is an independent person who has nothing to do with the company.

 2. Internal audit:

 In this case, it is an evaluation process carried out by the members of the company itself. The objective is almost always to review the processes that take place in it and from there to propose solutions. This audit is voluntary or at most requested by management.

 3. Operational audit:

 Its central objective is to increase the performance of a company. Although it can be performed by both an external agent and an internal agent, what is sought is to review the procedures that are part of the day-to-day life and improve the level of productivity. In other words, it goes beyond the review of financial statements. A good example of this type of audit is the one carried out to determine whether a company meets minimum quality standards.

 Read also: ERP Accounting Software solutions in Dubai

 4. Public or government audit:

 It is the one that is carried out directly at the request of a government entity. Its objective is to review the financial statements of companies and identify any type of irregularity, such as tax evasion, unjustified financing or non-compliance with labor laws. In United Arab Emirates, this task falls to the Court of Accounts.

 5. Computer audit:

 Almost all companies depend on computer systems. Therefore, it is necessary to carry out an evaluation from time to time and, if the case requires it, update and adapt them to the requirements of the context. The two main types of computer audits are those carried out in computer systems (ICS) and those of electronic data processes (PED).

 Other kinds of audit

 It is worth underlining that in recent times, types of audits specific to the context in which we live have emerged , such as environmental auditing, ethical auditing and economic-social auditing, among others.

How to establish effective business strategies?

 A business strategy describes the "big picture" strategy of a company. The development of this strategy deals with the problems that affect a company and is developed at a high level in the company such as with the board of directors, the senior management team, etc.

 For a business strategy to be effective, it is beneficial to understand what it entails, and the most common obstacles to face.

 If, for example, your ERP project team does not adopt innovative strategies, they may lag behind market rivals. This usually occurs because there is a bias that favors the way things have always been done.

 Strategy has to do with change, and you must have a change mentality to achieve it, you must plan, deal with doubt, and opposition to the change that you may face.

 A Business Consultant in UAE generally faces tight deadlines due to scheduled publication of board meetings or obtaining reports.

 External deadlines can make it difficult to deliver optimal results, for this you can bring together teams from various sources to meet strategic objectives that meet these deadlines. You are only agile when you develop the ability to combine and assemble the assets necessary to meet objectives and deadlines. The above challenges only represent some of the obstacles you may face.

 Part of a business strategy is to determine the short and long-term objectives that the company must meet, financial objectives can be addressed, increase the company's income by 20%, or intangible objectives, by determining the objectives, a direction can be created For everyone in the organization, strategies can later be developed that can help you meet your goals.

 It is very important to use research to drive your planning process, gather all the information about the weaknesses and strengths of your competitors, and thus create a strategy that provides a competitive advantage, you will also need a comprehensive understanding of the state of your industry in order to find emerging opportunities.

 Market research is also essential, by understanding your customers you will find that it is easier to attract and serve them.

 The core of any business strategy is the allocation of resources; This is when tough decisions are made regarding where to spend money. It's important to allocate resources in areas that you think offer the best opportunities. A team for the creation of your business strategy is crucial, as the CEO or senior management officer, it is up to you to make sure that the right people are gathered to create a strategy that helps the company achieve success, remember that, to As your business grows, business operations become more complex and can expose weaknesses in your management team. Anticipate these changes and bring in new talents as your current team members develop skills and abilities with ongoing training and education.

 Read also: Auditors in Dubai

Developing a business strategy, regardless of your industry, is a complex and challenging process, many business teams cannot do this without outside help due to the complexity of the process.

Why choose us as your account auditors

 The internal control of organizations is key if you want to maintain the stability of a company and even promote its growth. And the best way to do this is through an audit. For this reason it is common for companies to hire auditing companies to analyze and locate certain aspects within the companies that must be corrected.

If you are looking for account auditors you can contact us. At AAA-CAS we are specialists in both auditing and accounting advice and business consulting, among other things. We offer a quality service, always focused on ensuring that the company that hires us can have accurate information that is useful to it.

If you are looking for options, here are three reasons why you should choose us.

We offer a personalized service

As account auditors, we understand that there is no general solution that can serve various problems. Each company has particular needs and because we are aware of this we provide a personalized service to each client. Regardless of whether your company is small, medium or large, in AAA-CAS you will always get a close and personal treatment, although always with a lot of professionalism.

We have extensive experience

The history of AAA-CAS began in 2014, which means that the company has extensive experience in the sector. With almost 6 years in the market, we have become one of the best options to hire in terms of Auditors in Dubai. Thanks to our way of working (organized, professional and reliable) we have achieved a stable client portfolio and most importantly, satisfied with the service we have provided.

We have the best professionals available

At AAA-CAS our auditors have continuous training. This means that we have professionals equipped, not only with the best tools, but also with the greatest knowledge to carry out their work in the best possible way. We have a technical and professional quality that has made each client feel comfortable working with us.

Before choosing a list of audit firms in Dubai for your company, it is important that you always verify its reputation, as well as which specialists they use for different cases. Our company is characterized by objectivity, independence and dedication. For this reason, our clients have placed their trust in us day after day. What are you waiting to do it yourself?

CRM ERP software: how it works and the main types

 What is CRM software

 The acronym CRM refers to a Customer Relationship Management software, that is a set of applications that allow the management of the interactions of a company with its customers. A CRM ERP software allows you not only to manage data relating to your customers, but also to analyze them and optimize the relationship with customers and prospects by keeping track of all the actions carried out and setting up ad hoc campaigns, thus becoming a tool of great strategic importance. for both the sales department and the marketing department.

 How does it work

 A CRM ERP software allows you to store and manage all information relating to customers, such as contacts, meetings held, conversations via email and telephone, events in which they participated, the campaigns they joined, collecting them precisely from different channels and storing them in a structured way within a single unified database.

 A CRM-type software allows you to organize and plan actions and strategies aimed at improving the level of customer satisfaction and loyalty, thus leading to an improvement in the Customer Experience for the customer and an increase in sales for the company. A software of this type also makes it possible to automate some activities, both of the daily operational type on the marketing side, and as regards customer care and customer support services.

 The main types of CRM

 CRM oriented to lead generation

 This type of CRM ERP software is aimed precisely at the scrupulous tracking of all potential customers along a hypothetical sales process, recording tastes, needs, preferences for each possible new customer and developing strategies to ensure that they choose their product by transforming themselves. in a new customer.

 A lead generation-oriented CRM software, keeping track of all the interactions that led from the first contact to the sale, is also essential for the coordination of a sales team, which will operate in a more coordinated and more targeted manner.

 Marketing oriented CRM

 A CRM ERP software oriented to marketing activities includes tools that facilitate contact with customers and prospects, follow-up tools. But not only that: marketing-oriented CRMs also allow you to plan inbound marketing activities and to structure marketing automation workflows, for example with tools that allow you to automatically send an email to a user who clicked on a specific banner, opened a link within an article or visited a landing page.

 Read also: Are you looking for ERP Accounting Software solutions in Dubai

 Contact-oriented CRM

 Contact-oriented CRM applications are those whose goal is precisely to create moments of contact and dialogue with the customer, exploiting the information already available such as their tastes or needs deriving from previous purchases, but also occasions such as his birthday.

 A CRM solution of this type also favors the collection of further information on the customer, in order to be able to increasingly enrich the pool of data useful for nourishing relationships with him and having always updated information.

 Conversation-oriented CRM

 A conversation-oriented CRM ERP software focuses on the tools normally used to communicate with customers, such as the mailbox and telephone calls, but also social networks. The CRM system is able to maintain the organization of all the conversations held by the company with each customer, within the customer's profile. It will therefore be much easier to trace the history of all the activities carried out by the people in the team and make sure that each person is able to access always updated information.

 

Read also: Auditors in Dubai | Accountants & Auditors UAE

5 characteristics of a winning business

 Planning and maintaining a winning business is an adventurous journey for an entrepreneur, a journey that must be undertaken well equipped, with a sturdy and equipped backpack on the shoulders. Before deciding if, how and what to invest in, it is good that you pause to reflect on the characteristics that a business must have to be successful and maintain its success over time. These will be the essential starting point of your business project.

 5 characteristics of a winning business

 These are the 5 main characteristics of a successful business:

 # 1. A winning business is an organized business

 L ' organization is definitely the first and fundamental characteristic that belongs to a successful business. For a business to be long-lasting and successful, it is essential that it is well organized, even before starting it. This means that the entrepreneur must have a clear idea of ​​how to plan and design the business, in what direction to make it evolve, how to manage it effectively, how to save time and money, how to use human resources and how to achieve prefixed goal.

 Read also: Best Auditors in Dubai | Auditors in UAE

 How to organize your business? I can teach you a truly effective and replicable method for starting and maintaining a successful business. This is the home business method, which you can learn more about by reading the post doing business: the home-business method.

 

#2. A winning business is a conscious business

 

For a business to be successful, it must be aware. What does this mean? It means that all the people surrounding the business must be aware and well informed: the entrepreneur must be aware of the actual characteristics of his offer, the reputation of his brand, the corporate image and the way in which he communicates all this both to the employees and collaborators of the company and to the final customers. But, equally fundamental is that business collaborators (employees, suppliers, partners and stakeholders in general) must be aware of what are the specific values ​​of your business, what characteristics, peculiarities and advantages it offers, the way in which it is necessary to relate with your company and communicate it externally. All these elements, in fact, are fundamental to decree the success of your business over time.

 

# 3. A winning business is a provident business

 

Do you want your business to last over time? You must try to anticipate any crisis situations and, above all, you must understand how to resolve them promptly if they arise. Being provident for a business is essential in order not to fall into ruinous tumbles without knowing how to get up, at least limiting the dangerous damage that can result. Damages that, if they affect your brand reputation, are then difficult to recover and remedy. This is why market analysis and company forecasts are fundamental, because a business is successful when it takes risks but also when it does not underestimate the risk.

 

# 4. A winning business is an adaptable business

 

A business is successful if and only if it manages to be flexible and adaptable , if it manages to react promptly to market changes, if it manages to keep up with the times and to be constantly updated and contemporary, if it manages to observe society and its changes and to immerse oneself in it perfectly.

 

# 5. A winning business is a business that knows how to sell itself

 

You may have had the best Business Consultant in Dubai, but if you don't know how to sell it and if you don't know how to communicate and tell your brand, then rest assured that that idea will fail. Not only the big marketers but also the contemporary reality teach us: why is Apple a winning company? How much do big brands invest to tell their story through new digital channels? Today more than ever if you don't learn how to tell your brand, your product or your service, your business will be short-lived.

 

Do you want to become a successful entrepreneur? Do you want to learn a really effective and replicable method?

 

Why Use An ERP In Your Business?

 Once used exclusively by large manufacturers, enterprise resource planning systems , ERP, or management software , are now increasingly used by small businesses in many industries. Convenient ERP systems for businesses of all sizes have emerged. Many small and medium businesses have adopted ERP. Let's see why?

 What is an ERP or integrated management software package?

 The ERP, or ERP, is a modular software system designed to incorporate key functional areas of the business processes of an organization into a unified system.

 An ERP system consists of basic software components, often referred to as modules, which focus on essential business areas such as:

1. finance and accounting,
2. human resources,
3. management of production and materials,
4. customer relationship management (CRM),
5. Supply chain management.

Organizations choose which modules are most important for their particular business.

ERP = database shared between the modules

The hallmark of ERP software is a common central database from which the various modules of the ERP software access information, some of which is shared with other modules involved in a given business process. This means that companies that use ERP avoid having to make double entries to update information because the system shares data, which allows for greater accuracy and better collaboration between departments. Organization.

Read also: Auditors in Dubai

 While ERP has historically been associated with expensive, monolithic, end-to-end implementations, cloud-based versions now allow for easier deployments, which more SMBs benefit from.

 Why use a management software package for your ERP systems business in 2020?

 Those who have never used the software may have a hard time understanding why ERP is important to their business. It is essential to research all the tools to give your business a competitive advantage. For many businesses, this is achieved through the use of ERP software.

 What are the uses of ERP?

 Enterprise resource planning systems are used by organizations looking to manage their business functions within a centralized and integrated system. ERP is commonly used by companies working within the supply chain to help them keep track of all moving parts in manufacturing and distribution.

 However, ERP can be used by a number of different industries, including healthcare, nonprofits, construction, and hospitality.

 An ERP saves you money

 Suppliers have introduced flexible pricing in recent years, ERP software is not necessarily a big investment anymore. ERP systems can provide a great return on investment.

 First, ERP unifies many of the systems that can currently be fragmented within your organization. From product development to accounts payable, your staff will be able to access all the tools they need to do their jobs from a centralized system.

 By unifying the systems, you help your staff use their time more efficiently. With ERP, users do not need to track a piece of information across multiple systems. With the central database, information is much easier to retrieve. Additionally, your organization saves money with ERP by eliminating the need for users to be trained on multiple systems. This not only reduces the amount spent on training, but also the necessary logistical efforts. Instead of scheduling multiple training sessions with several different vendors, you only need to communicate with one.

 Improved collaboration thanks to ERP

 The features of integrated management software packages may vary slightly depending on the program you are using, but in general, all systems improve collaboration in some way. As mentioned earlier, the centralized database is an integral part of what makes an ERP unique. With this database, you provide your business with a single source from which to work. This helps reduce errors due to the use of incorrect data, which further reduces costs.

 Plus, a central database helps reduce hesitation or deadlock during projects, since everyone on the team has access to the data they need across the enterprise. In addition, there is no need to merge information between different systems or sources. As all data is compiled, stored, shared and accessed through a single system, there are no concerns about the accuracy, completeness or security of the data files.

 It's not as easy to tell if your team is entering the same customer information over and over again into several different systems. Without an ERP, you invite human error into your processes when it could easily be avoided.

 More sophisticated analyzes

 A central database of information also helps you improve your analyzes and reports. Since an ERP records and stores all the data entered by users, it is an excellent business intelligence tool. Because your vendor provides powerful functionality, ERP software makes it easier and faster for your team to generate various reports. Reports that could take days of research and compilation without an ERP only take a few minutes.

 Most ERP systems provide a customizable dashboard for executives to see reports when they first log into the system. The ability to quickly access these reports allows you and your team to make better decisions, faster. You no longer have to rely on your IT staff to generate the reports you need. Finally, reports usually come with access levels, which helps ensure that only relevant staff members see valuable company data.

 Productivity improvement

 An ERP system can automate your most tedious tasks. The ERP software database eliminates redundant tasks such as data entry and allows the system to perform advanced calculations in minutes. This frees up your team members' time to do more thoughtful work, which increases your ROI when it comes to manpower. Hence, ERP increases the productivity, efficiency and profitability of your organization.

 Improved inventory tracking

 A major challenge for growing businesses is tracking and monitoring their inventory levels. ERP systems use bar codes, RFID tags, and serial numbers to control your inventory at every step of the supply chain. These tools help you keep track of inventory levels across warehouses, items in transit, and items on the shelves ready for consumers. The increased warehouse visibility greatly optimizes the process of picking, packing and shipping, eliminating all guesswork.

 Inventory monitoring also boosts reporting, as tracking technologies provide more accurate numbers. Users can configure custom KPIs to see which products are moving fastest and which are increasing transportation costs. With the greater precision provided by ERP, warehouse managers can obtain real-time data on their inventory to make more accurate business decisions.

 Better customer relationship management

 Managing your customers has never been more important. In our digital age, more and more people are turning to the internet for advice on what to wear, what to eat, and how to live a life. The opinions of previous customers are having more impact than ever.

 The best way to improve customer satisfaction is to provide customer focused goods and services. ERP provides this in several different ways. First, most ERPs have a CRM or CRM tool. With an ERP, your CRM has access to data from all business functions.

 In addition to contact information, a built-in CRM can show you details like order history and billing information. This allows your team to see your customers in a more holistic way to better understand their wants and needs. The increased visibility to your customers helps you formulate your sales strategy to improve lead generation.

 Disadvantages of implementing an ERP

Set up an ERP:

• May have a high initial cost.
• Can be difficult to implement.
• Requires change management during and after implementation.

In summary

The importance of Customized ERP Software's in Dubai far exceeds the initial cost, time, and effort required to implement if you choose the right solution. With enough extensive research and attention, you will find the ERP software that provides all of the benefits listed above.

What are the operations that accounting software can complete

  Among the various operations that an accounting software can complete is the creation of invoices and estimates, the monitoring of expenses and payments, the management of suppliers and even the control of warehouse stocks . This type of software is also particularly suitable both for companies that have just entered the market, such as in the case of start-ups, and for SMEs that have already conquered a slice of users in their sector of reference.

 To choose the best accounting software for the needs of your company, you can resort to the help of best companies, which in addition to collecting the most popular accounting management tools also offers the possibility to compare them thanks to its internal comparator. Last, but certainly not least, factor to take into account when choosing an accounting tool for your company is its advantages.

 In this regard, allows users to select software based on some essential criteria, such as the presence of accounting services in Dubai and billing tools or the possibility of accessing a free trial. It should also be noted that there are also entirely free and open source software, which however are not in line with the laws on finance in force.

 What features must accounting software have?

 Usually the accounting management tools can count on a wide range of functions. An excellent news that, on the other hand, could put in difficulty those who try their hand at choosing the most suitable tool for their needs.

 For this reason, especially if you are a beginner, it is advisable to work closely with more experienced accountants who can help identify the features necessary for your business needs.

 Let's try to put the characteristics and some of the critical aspects to consider in choosing an accounting software black and white :

 Basic accounting tools - Before even analyzing the advanced features, you need to have a clear understanding of the basic tools that your company needs. Typically merchants choose standard arrangements such as customer management, estimates, billing, as well as tracking expenses and revenues. In the case of a shop with a wide range of items, functions such as purchase order, supplier management and inventory management may be useful.

 Mobile-friendly - Accessibility from Smartphone’s is now a standard among accounting tools. Of course, the cloud is great for allowing team members to access the tool remotely from anywhere. But, today, this is not enough to manage a company's finances efficiently. For this, the software must guarantee a mobile experience operationally similar to that of a PC.

 Data security - Financial data is unquestionably one of the most sensitive information within e-commerce: every single violation is a potential damage to the company. For this, the security features made available by the various accounting tools must be a priority. How are the saved data managed and how are they protected during transmission? What are their safety standards? What about their privacy policy? What measures do they implement to monitor their networks and prevent possible attacks? These are just some indications to understand if and how much security is central for those to whom you can entrust the most intimate information of a company.

 Forecasting functions - The most modern accounting tools have developed artificial intelligence systems in order to fully analyze the financial models and, consequently, forecast revenue and growth. These are tools so powerful as to push more and more accountants to rely on artificial intelligence. Are the predictions really accurate? The direction taken is the right one. Certainly, the choice must take into account how deep the proposed analyzes and forecasts are.

 Automation - Automation is certainly one of the main reasons for relying on compatibility tools. The best products include automatic systems for reporting, global payments, invoice management, tax compliance, supplier accounting, etc.

 Tax support - A clear picture of a company's money cannot be separated from tax monitoring. To do this, it is necessary to rely on an updated Customized ERP Software's in Dubai on the laws in force that can automatically process the required taxes. The free tools usually do not guarantee the punctuality of this function making the choice of a paid tool obligatory.

 Read also: Are you looking for Auditors in UAE

 Integration with third-party tools - E-commerce is a dynamic ecosystem where several elements intersect which is always in sync with each other. Such a fluid environment obviously needs versatile accounting tools that can integrate with a wide range of third-party tools. To be clear, the best accounting tools should be able to connect with Google apps, in addition to email marketing tools, customer relationship management, inventory management, payment processing, etc.

 Reporting - In the end, what really drives you to use an accounting tool is its ability to efficiently generate relevant financial reports. While some systems simply provide basic profit and loss reports, the best solution can only be a tool that can dig deep to offer real and in-depth reports that can photograph your financial performance in real time.

 

 

 

Corporate Finance Services in Dubai

 We are reputed  Corporate Finance Services in Dubai; offer a range of auditing company services in UAE, Sharjah UAE. Audit & Assurance is one of the core practices of our firm in Dubai. Get more information: 97142287774

Why rely on an audit service in your company?

 Auditing is the process of validating the activities carried out by an entity or a part of it, and it may even be specific to only one activity. Her main objective is to validate what was done with what was planned. Among the various types used by companies, one of the most common is the accounting audit service, whose main objectives are to prove the facts that change the assets of companies, the presentation of errors or fraud and, consequently, the suggestion of measures that can be taken to prevent them, as well as verification of the accuracy of the company's internal controls.

 It also checks for the existence of these internal controls and if they are applied correctly. Thus, accounting auditing can be understood as a technique that checks accounting records so that, with this, it can attest to their correct reliability, which means that they must reflect the equity presented.

 What is the final result of an external audit?

 The final product of the external audit is the issuance of a report, previously known as an opinion, on the adequacy of the financial statements in relation to the Accounting Principles and United Arab Emirates Accounting Standards.

 For this, it is necessary that the external or independent auditor has independence as its main characteristic. Furthermore, he cannot have any relationship with the audited company. This report will present the auditor's technical and substantiated opinion regarding the correct observance of current legislation and that this was correctly used in the preparation of the audited financial statements.

 Where does internal auditing come in?

 Auditors in UAE is defined as a set of procedures whose main objective is to examine the integrity of procedures, as well as to verify the adequacy of the internal, physical, accounting, financial or operational controls of a given company.

 The internal auditor's work is defined by the company's management, that is, the points that will be worked on are discussed or even passed on by the board so that the internal auditor can work. In addition, the nature of the work of the internal audit is more linked to the internal routine of the company's work, as this professional will observe compliance with internal rules.

 What is the difference between internal control and internal audit?

 The internal audit can be understood as a review work, in an organized way and that will be developed by a specific department. Internal control, in turn, can be understood as a set of procedures and controls adopted by a certain company.

 These controls and procedures range from the preparation and observation of an organization's plan, through methods and measures observed to compare and understand the company's results, as well as asset protection systems, such as observing certain standards for accounting for assets, the correct adequacy of the company's chart of accounts, administrative policies such as rules and functions for each employee and others specific to each type of business.

 How to optimize your audit process?

 It is necessary to understand that the internal and external audit must work together, that is, it is necessary to continuously verify internal processes, a function performed by the internal audit, which will facilitate the work of verifying the adequacy of the financial statements by the external auditor. Thus, the internal audit must observe some points. Let's go to them.

 All company procedures need to be determined and known – this is necessary for all employees to know and adequately perform the company's internal procedures and so that, as a consequence, the internal auditor can verify possible failures.

Checklist – that is, a checklist, which can be done by department, of the procedures that are required and that are actually being carried out, helping to minimize failures.

 Independence – even if the internal auditor is linked to the company's management, he/she needs to point out what is not in accordance with internal controls, that is, he/she needs to be impartial and point out the path to be followed.

 Of course, all procedures and, later, the internal auditor's findings should always be presented and discussed so that the company can know if it is on the right path or what it should do to correct its course.

 Is it worth investing in the audit?

 Both the Internal Audit and control system reviews in UAE, by issuing the audit report that certifies the reliability of the records, and the internal audit, which uses internal controls to suggest paths that can be traced, are extremely useful and necessary procedures that guarantee the veracity and use of internal rules and procedures and, consequently, the adherence and adequacy to the current legislation. Use Aaa-cas services to improve your controls and get better results.

THE ADVANTAGES FOR THE COMPANY WHEN HIRING PAYROLL MANAGEMENT

 In United Arab Emirates, labor legislation is one of the most complex and detailed things when compared to other countries. Thus, professionals working in this area must be extremely capable, detail and meticulous.

 In many companies, the HR service does not have a good structure to manage the payroll. Thus, they choose to outsource this service, seeking out companies that are experts in the subject, having a lower probability of errors, more efficient operation and reduced operating costs.

 Many companies go beyond the outsourcing of payroll management to the outsourcing of benefits management, in this way, entrepreneurs can focus on their business leaving these sectors in the hands of specialists dedicated to the segment.

             These are some advantages for the company to hire payroll management:

 1 - Decrease in errors:

 Specialists trained to do this service, that is, they have mastery of the subject, making the payroll management process agile and reducing errors normally made by people without this knowledge.

 2 – Practicality and focus in each area:

 When the company chooses to manage its payroll internally, it often runs the risk of having people performing this function who are not experts in the field. In addition to outsourcing there is a reduction in costs in hiring employees, vacations, overtime, labor obligations.

 3 – Reduction of fines:

 By hiring an outsourced company, there is a great reduction in failures when making payslips. Your company will have greater control over overtime, additional night hours. Remembering that the execution of payrolls in the wrong way can generate labor lawsuits.

 4. Time reduction

  Instead of spending time doing payroll management, the company could be more efficiently dedicating itself to its business. By outsourcing the service, the company reduces the time spent and is able to focus on what really matters.

  Ecar Pay, in addition to managing your company's payroll and benefits, guarantees its customers insurance against any errors in the process, providing even more security for your company.

  With Ecar Pay performing your company's payroll and benefits management services, you will have a reduction in operating costs, in addition to leaving you in the hands of qualified specialists to perform these services quickly and correctly.

 If you are interested in knowing if your company can reduce costs and improve Payroll services in UAE and benefits management processes, contact our team and request a visit. We take a free survey of the last 5 years of your payroll and show you how much you could have saved and improved your process.

Read also: What is business consulting, types and areas of expertise

 

Read also: 3 tips to improve your company's financial management

 

Read also: Learn about 3 advantages of payroll outsourcing