The growth and development of the corporate world are happening to a great extent due to the extensive use of various software’, which help in conducting day to day business operations smoothly.
There are many types of software which serve a different purpose. Selecting and implementing types of software is a difficult job. Proper selection of software which can be helpful to complete the work efficiently without taking much time is a key to solve the problems faced by the concern. Hence before implementing software proper decisions, we can take as it is going to be very vital for the growth and development of the related business. Inventory is a very familiar term to businesses. Managing wholesale inventory is one of the difficult jobs. Now a day there is types of inventory management software which helps in managing wholesale inventories efficiently.
Keeping track of inventories can be a very tedious job as counting each and every goods or material stored there can be very time to consume and requires lots of efforts. Hence it is always advisable to use wholesale inventory management software. The inventory management software eliminates hard work and also saves lots of precious time. Inventory management software records all the quantity of goods or material stored in the warehouse, date of purchase of the product, maintains or records sales proceedings, provides a description of products and many more. This has helped the management of businesses to keep a complete track of inventories easily.
Inventory management software has extremely important features. Some of the features are mentioned below:
- Reduce cost
- Provides financial benefits to the users
- Provides information on products for selling faster
- Efficiently managing back-orders and many more
When there is so much they need to accomplish, any manufacturing company needs a little help. A collection of computers and gadgets may not seem significant at first, but manufacturing ERP software could go a long way.
ERP stands for enterprise resource planning. It is an integrated system that meets the demands of inventory management with a network of devices. ERP is an organized and comprehensible approach to managing the operations that keep any company or institution running. This we can all achieve by using software installed in a network of electronic devices that works as a database for information on an establishment’s personnel, their payroll, and the inventory and the flow of activities.
Inventory system software is just one major component in ERP software installed in a retail location or its warehouse. A wholesale supermarket, for example, has a massive collection of stock items of the broadest range possible. With ERP software, this is all organized from the number of items in stock and the identification of each of them down to the record of how many and which items of which category is sold. That also includes the soft and hard copies of receipts printed out clearly on thin paper.
Hence we should consider inventory management software application as very important for inventory based businesses, especially for the wholesalers and retailers. Hence we can use inventory management software as a tool to take a business to a new level.
Understand the pros and cons of the discount brokers
The share market has no scarcity of service providers for trading and investment. There are ample companies and broking houses which can offer quality service to the traders. The full-service provider is preferable to those who have limited trading as well as an investment, but for those who deal with volume, the option of the discount service provider can be a better one as they can offer services at a limited cost. Hiring a discount broker has turned incredibly a popular means of making the investment within the financial markets at the present time. As you decide on employing a discount broker, you will certainly reap several benefits, but there are associated some downsides with them as well. Below are listed a few advantages and disadvantages of the discount brokers:
The largest draw that the investor will be going to derive from this kind of broker is the fees or commissions will be extremely cheap. As an investor frequently purchases securities and stocks, you will not be inclined to shell out more money than you ought to. As you choose to appoint a full –service broker, they may normally charge a huge amount of commission which you are going to manage. This fee may be taken by way of percentage of the entire deal volume. The hefty sum of commissions can burn a hole in your pocket and diminish the wealth you take home. If you are a person who wishes to put in a regular sum of money on the intervallic basis, you would like to complete it on very cheap costs.
One added benefit that you will be going to enjoy with the discount broker is the aspect of safety. For a long time, in case the broker is in a position to reduce commissions, it will mean that they are compensating for it in bulk deals. Normally, the best discount brokers make incredibly big brokers. By it is meant that your wealth will be safe by appointing the best discount broker in India 2018 as compared to any small brokerage firm that is not known in the financial market relatively.
Even though the investor may be in the capacity to bank some money by using a discount broker, there happen to be some potential disadvantages as well. For instance, they are inclined to leave all the decisions of investment on your shoulders. They are not worried about what the investor purchases until he continues the practice of selling and purchasing. If you are in need of help, you will not be capable of attracting too much of their personal attention as you can with a traditional broker. In a number of instances, they normally provide you with an online platform for doing a trade so that you can work. They offer simply basic information that is uploaded to their websites for all people to view. In case you ring up for assistance, they will not be present there to aid when you are in need of great assistance.
Tips to select the best stock trading company
Now everyone with the dream to invest in the stock market are well aware of the importance of the stockbroker or trading company. These registered firms are the authorized persons to engage in the purchase and sales of the stocks and commodities on behalf of you. So once you are ready with the decision and sufficient amount of money to make the investment, it is the time to search and select the best trading broker to start with the process. This is the point where you have to think brilliantly and to select the right company to enjoy trading at affordable rates. Unfortunately, the factors that really leads most of the investors towards a company are not the right tips in the real sense.
First in searches need not be the best
It is quite common that most of the investors settle their searches with any of the companies that come in the top of online searches. But keep in mind that first in searches need not be the best always since there are several techniques and tools to take the particular company to the top of the searches. Hence it is a good idea to go through the website of the company to have a detailed check of the services and to know what the company has to offer you. A reputed Stock Trading Company never tend to hide anything from the customers and they provide complete details of the services.
Check for rates of brokerage
Reputed companies never invite you with the phrase ‘affordable brokerage’. Instead, you will be provided with the exact rates of brokerages. This helps you a lot to compare the rate with competing companies to select the best one. The rates are provided exactly for the investors to make them free from any of the hidden charges. Most of the companies who attract the investors with affordable rates are said to charge a high rate of commission and other costs. Hence be clear about the account opening charge, maintenance cost and brokerage rate before you take the final decision to partner with the stock broker company.
‘NO’ free trading
Never make a quick jump to any of the companies just looking at the caption for free trading. There is nothing like a free trading and all of the brokerage firms collects some amount for the services provided for the investors. But, you have the opportunity to open free demat and trading account. There are reputed companies to provide the investors with these accounts for free of cost to make a fantastic entrance to the stock market. But think twice before selecting the firms who provide free trading service instead of free accounts. Make sure that the annual maintenance and commissions are charged at low rates for the free trading accounts.
Now you are well aware of the tips to select the best stock broker company in the country among several. Apart from these tips, reviews and remarks made by the real investors and stock trading experts for different companies also help you to pick the best out of the best Stock Trading Company in the company.
Partnering with a reputed stock trading company is just like driving with the seat belt on.
Why You Must Not Opt For a Credit Card Advance?
Let’s say you have an urgent cash requirement. A card swipe, a cheque or a balance transfer won’t do; only hard cash will suffice the purpose. Unfortunately, though, you do not have enough cash. Your debit card doesn’t have the requisite funds and the nature of the emergency is such that you do not have enough time to borrow a Personal Loan. So what do you do then? “Oh wait! I do have a Credit Card in my wallet! I can always withdraw cash from it, right? Problem solved!” is the riposte most of you may come up with. But hang on a second! Despite how easy and convenient as it sounds, a Credit Card cash withdrawal may not be such a good idea. To spell it out more clearly, it would do more harm than good for you. Wait, what? Yes! You read that right! Read on to find out just why.
No interest-free grace period
Your Credit Card bills get generated on a fixed date every month. Let’s say if the date were the 5th of every month, then the bill for all your transactions from 5th of July to the 4th of August would be raised on the 5th August (the billing date). You are not liable to pay any amount in the form of interest for Credit Card purchases and bill payments before they are billed. Besides this, you usually get a 21 to 25 day interest-free grace period which commences from the billing date. Any amount you repay during this period becomes interest-free. So in effect, you get to enjoy a 25 to 50 day interest-free period from the day you make a transaction from your SBI Credit Card or other Credit Card.
This, however, does not apply to cash withdrawals. A Credit Card cash advance denies you the privilege of enjoying an interest-free period. Moreover, the interest on the borrowed amount gets accrued right from the day you make the withdrawal and not from the billing date. And considering that Credit Card interest rates are about 2.5% per month, you would probably pay interest at the rate of 5% or above in that 25-50 day period which would have otherwise been interest-free.
You could, however, expect some sort of relief if you own a low interest bearing Credit Card. You could apply for Credit Cards Online in India on www.mymoneymantra.com, India’s leading online financial service provider and the premier destination for ‘low interest, high limit’ Credit Cards. Their team of professional selects only the Top Credit Cards for you to ensure that you enjoy maximum credit facility at minimum interest rates.
Higher interest rate
Not many people know this, but a Credit Card cash advance bears a higher interest rate than other Credit Card transactions. The interest rate on cash withdrawals may vary from 24% to 48% depending upon the card issuer. In contrast, all other Credit Card transactions carry an interest rate of 12% to 36%. The difference is about 1% per month; a considerable amount by any standards. So not only do you pay interest for a longer time, but you also pay it a higher rate. Needless to say, the affordability of the transaction takes a serious hit!
Hefty transaction fees
If the absence of an interest-free duration of time and a higher interest rate didn’t do enough to convince you of the impracticality and unaffordable nature of a Credit Card cash advance, here’s something more. A Credit card cash advance imposes a hefty transaction fee on you. The transaction fee is usually 2.5% of the amount withdrawn but some card issuers may charge 3% too. This one-time payment is over and above the interest charged on the withdrawal.
If you were to combine the exorbitant interest rate and the transaction fees, you’d have to repay 8-10% more than the amount you borrowed if you were to make the repayment within 2 months from the transaction date. And that is about as much as a Fixed Deposit would pay you in a year. Just saying!
It may hurt your credit score
Let’s just keep the financial viability of this practice aside for a moment. Credit Card cash advances cause more problems than just that. You’d usually take a cash advance as a last resort. And the fact that you ‘had’ to use it, which implies a paucity of funds and a lack of low-interest alternatives, sends out bad signals to your lenders. Utilising your credit limit to its maximum is also not viewed in great light. These factors may decrease your creditworthiness and hence your credit score.
Alternatives for cash advances
Before you walk down to the nearest ATM to take a cash advance on your card, take some time out to consider other alternatives. See if you can borrow a Personal Loan. If you have some unused furniture or other such spare items, sell them off. Ask your friends and family members if they could help.
If your car breaks down and the mechanic won’t accept card payment, or if there’s some sort of a medical emergency and you have not carried your debit card along; a cash advance becomes more of a compulsion than an option. Such situations aside, you are better off staying as far away from a cash advance as you possibly can!
To apply online for Credit Cards, Secured Loans and Unsecured Loans, visit www.mymoneymantra.com, the leading online lending marketplace that offers financial products from 60+ Banks and NBFCs. We have served 2 million+ happy customers since 1989.
Talk to our Loan Specialists toll-free at 1800 103 4004 to know more about our products and offers.
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