Importance of Human Resource Management Systems To Businesses

 

Primarily, a Human resource management system ensures systematic arranging of data and information with respect to employees in an organization. This systematic arranging automatically leads to significant planning, adequate and prompt decision making and also streamlining of business operations. This simply enhances the end result of business operations.

One of the significant advantages of a human resource management tool is that it is highly flexible and can perfectly pitch to the business need. The other advantages are discussed below:

Managing the employee regularity

The success of any organization lies in the selfless contribution and commitment of its employees. The employee presence or employee attendance matters the most to a company. Most of the HRMS/HRIS comes integrated with employee attendance management system. The feature helps the business managers or HR professionals to keep track of the employee attendance and leaves in a business. Both parties can easily process their requests.

Safeguarding employee rights

Employee rights are equally important to employee benefits. It is the primary function of the business organization to safeguard its employee rights. This is  in terms of wages, overtime, workplace safety, wrongful termination or discrimination. With the help of a human resource management tool, one can efficiently work on the human rights of employees, keeping them privileged.

It helps empower employees

The focus of an HRMS can be increasing the involvement of employees and empowering them. Under such a system, employees are given more decision-making power, and teamwork is encouraged. For example, a small-business owner may want to shift from focusing on the day-to-day functions of the business to expanding the business. This requires trusting employees, training them, and giving them more decision-making authority.

It enhances customer service

Small businesses have typically limited market share. Providing excellent customer service is one strategy to defend market share. An HRMS focused on delivering good customer service includes improving the physical work environment, a supportive and collaborative spirit to cover possible mistakes, and use of appropriate service delivery technologies such as computers.

Cost effectiveness

The Human Resource Management System will allow you to automate time-consuming data entry tasks. This way, you will save the company a lot of money because the automation, in addition to the initial savings, will free your organization from using paper. With the right HR software, all processes will become digital.

Routine task automation

Another great advantage of implementing HR software in your organization is that you could automate several day-to-day tasks just like that. With an appropriate HRM system, you won’t have to worry about paperwork, managing employees’ benefits, salary, taxes, and other information of this kind. It will all be in the system analyzed and collected automatically.

Effective data tracking and management

Another valuable benefit of the HRM system is that it ensures that important information always comes first to you. No more out-of-date and inadequate data that hinders decision-making. An HR software collects data and enables you to access it anytime and from any place you want.

Employee payroll management

HRMS can efficiently manage the payroll of all the employees in the company. Now, payroll management is not just limited to the payment of salary. It includes a wide spectrum of activities that need to be included as a part of employee compensation management. Not just in one location, HRMS can combine the payroll management of all employees of the company across all geographical locations.

Any discrepancies in payroll data can result in the downfall of any business. Therefore, managing payroll effectively is of extreme importance. And, there is no better way to manage payroll than to apply HRMS.

Recruitment management

It is a simple, easy to use software that greatly reduces human effort and time spent in hiring by automating the various aspects of recruiting, including sourcing, screening, documentation and onboarding. Thus, you can now easily accept resumes and online applications, screen the applications to shortlist the fittest candidates and manage a pool of ideal candidates for future job openings.

Employee benefits administration

HRMS makes the entitlement, allocation and calculation of resources transparent to the employees and the management. This helps to solve many discrepancies in data if it were to arise eventually leading to better administration and management of resources.

Employee performance management

HRMS enables employers and managers to provide 360-degree real-time feedback. This makes the performance management process robust, efficient and result-oriented. Employees no longer have to wait for the yearly performance reviews to know where they went wrong. Periodic feedback with the help HRMS can help in the instant implementation of suggestions resulting in better efficiency and productivity from the employees.

Enhances employee self service

Empowering employees is the most standout feature of the HRMS. Employees often have many queries and doubts and seek detailed and immediate answers. It is often not feasible for the HR team to answer each query of employees, especially when the company has hundreds of employees.

In such a situation, the HRMS system can come to rescue by providing better self-service opportunities for employees. They can simply feed the policies and other data into the integrated system. And the employees can log in to their respective accounts and seek all the information they need without disturbing the HR team. This smooth and seamless flow of information boosts transparency and efficiency at the workplace.

In conclusion, Importance of Human Resource Management Systems To Businesses cannot be overlooked. An effective HRMS, in theory and practice, will ultimately lead to improved efficiency and greater benefits for the business. It will help the company achieve its objectives of growth and expansion. Reach out to Robisearch Limited today 0n 0716413386 or 0780655987 and get your system installed!

 

 

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Features of A Good Human Resource Management System

 

Features of A Good Human Resource Management System – When your company reaches a certain size, keeping all information in spreadsheets becomes more trouble than it’s worth. Going through each and every document to ensure records match gets tedious (and introduces lots of errors).

The Human resource management system refers to an automated process that can be able to manage the entire workforce, recruitment activities, payroll management, employee training, performance evaluation, and so many other things. HR professionals can manage these activities through a computerized system called human resource management software.

To find an easy-to-use HRM software that meets your business needs, look for a product with the following key features:

Employee management

This feature can allow the HR professionals to manage and maintain the employee’s profiles and personal information such as employee position, salary history, tax and banking information details, performance evaluation, disciplinary details, insurance plans, and many more. Moreover, it can allow you to keep a record of this information for further needs.

Payroll management

The HRM software is able to provide an absolute payroll management module that can allow you to manage all payroll-related activities easily and accurately. You do not have to purchase any payroll software individually because you will get a complete payroll system in the HR management software.

Benefits management

To enrich your employee’s gratification, you need to offer various facilities such as health insurance, life insurance, retirement plans, and many others benefits. Actually, the HR department can ensure these facilities and manage such operations. If you integrate an automated system for managing these activities, it will be very conducive to the HR department.

Attendance management

This feature allows you to manage attendance forms and check attendance reports through the attendance log. So, you can manage your employee attendance system by using this feature.

Self service ( management)

Managers’ self-service functions help you speed up HR processes and allow you to carry out various tasks like reviewing candidate applications, entering performance review data, approving expenses claims, and accessing employee information.

Self service (Employees)

Employee self-service functions enable your employees to input personal data, check on the status of their benefits, and request time off. This can save your HR department a ton of time as they no longer have to be the go-between your staff and this information.

Absence management

HRMS software can help you track and manage the absence of your employees. It makes it easy for managers to know who’s in and who’s out and for what reasons – be it on vacation, sick leave, maternity leave, or other paid time off.

Real time reporting

Your HRMS should offer tailored and customizable analytics and reports from your system’s data. Real-time information and reporting enables you to make timely decisions that enhance performance against KPIs.

Access controls

Access to information, reports, and data will be designated as either private or public. The best HRMS software has administration functions to assign levels or tiers of access to different resources. This works to enhance data security and prohibit classified information sharing with non-authorized users.

Company policies and objectives

Money spent on training programs, development, and certifications is an investment towards meeting business goals. Your HRMS system should be capable of parsing your developmental strategies and comparing them to your preset policies and objectives.

Recruitment and hiring

The system can automate and optimize a data analysis on peer positions and pitch the correct salary. The automated recruitment module of HRMS makes hiring procedures swift with easy to prepare templates and follow-up with recruitment.

Performance evaluation

HRMS efficiently simplifies the assessment process by taking KPAs and KRAs into accountability. It gives more transparency and unbiased output of attendance and punctuality of every employee. With individual productivity track, knowledge management becomes effective and improves skills via training and development.

Talent retention

HRMS helps to develop employee recruitment to retention strategies. If the attrition rate is high in an organization, HRMS will support the HR Manager with relevant analytical information to come over this problem.

Employee training

With the change in technology and process, every employee needs to upgrade his/her skill sets. HRMS helps identify this gap of skills and guides in managing employees’ training requirements and monitors the significant cost required for training and development.

As a good place to start deciding what kind of solution is best for you, Robisearch Limited  provides the best human resource management system on the market today. Reach us on 0716413386 0r 0780655987 for inquiries or more information.

 

 

 

 

 

 

 

 

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Importance of a Website For Up and Coming Businesses

Importance of a Website For Up and Coming Businesses – If your business has gotten this far without a website, you might be wondering why you need one. The short answer is that there has never been a better or more important time to invest in a website for your business. A website offers a wide variety of benefits for small businesses, and most of these benefits increase in value exponentially year over year, just like the Internet itself.

Having a website is important for small business for many different reasons.  From building credibility with customers to capturing leads and web visitors, your website should be an accurate representation of your company.  And even more than just that, it should be a powerful money making machine that brings you leads and new customers.

Below, we discuss why a website is important for up and coming businesses.

Brand credibility

Your website will give you instant brand credibility. This will lead to more sales and customers. It is a very important reason why you need a website for your business.

Describe your services

Your website should clearly describe the services your business has to offer.  If you can do this well on your website, you will get more relevant phone calls and leads.

24 hour advertising

Your website is a 24 hour billboard for your business.  Now, I’m assuming your business is not open 24 hours a day, 7 days a week.  How can you advertise your business when you’re not open or available to take a call?  Your website, of course!

Show you exist

Your website is quite simply, proof of your existence as a business.  Without the powerful combination of a website and local SEO, your business would not show up online (or on Google maps!).

Funnel visitors

Besides simply landing on a specific page, your website should funnel visitors to different channels.  This will ultimately increase your website’s relevance and value.

Make a purchase

Your website should be an easy way for customers to make a purchase.  As you may already know, the buying process begins online most of the time.  What this means is that you have a very good opportunity, with a properly designed and optimized website, to make sales with your website.

Increase exposure

Your website should increase the online exposure of your business which is crucial to continue to see growth. For example, if a customer does a search on Google, ideally you would want this potential customer to stumble across your business.

Increase trust

Most people in today’s online era would not trust a business (no matter what kind of business it is) if it does not have a website.  Without a website you not only don’t have the opportunity to get in front of potential consumers.  Additionally, most people would not think your business is legitimate or successful unless you have a website.

Capture leads

A website should ideally capture leads of web visitors.  This is why having a website is so important for your small business.

Distinct and strategic calls to action should be placed on your site’s landing pages.  Structuring your site properly and placing CTA’s in the right places is the difference between a website that makes money and one that does not.

Communicate your brand’s values

A website can easily communicate your brand’s values to people who stumble upon it.  This includes style elements, target market, and other important things that can help visitors decide whether or not to choose your business.

Additionally, business branding signals to visitors that you are established and successful. This simple communication of your stature is enough to help you get new clients.

Answer important questions

Having a website is important for your small business because your website can answer questions.  Most of the time, customers would rather look online than call a business to find out basic information.  Not having a website would mean missing all of the potential customers who do not want to reach out and ask you about your services.

Additionally, your website can communicate basic and fundamental things about your business that the public would like to have on hand.  A website’s ability to answer consumers questions in just one of the many reasons your website is important to your business.  Without it, customers would be lost.

Having a strong online presence can truly be a make or break for any business. Visit our website or Reach out to us on 0716413386 or 0780655987 and get a website today!

 

 

 

 

 

 

 

 

 

 

 

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Importance Point of Sale System to Retailers

 

 

Importance Point of Sale System to Retailers – Point of Sale Software helps offer valuable insights into the inventory levels, customer data, sales records, and more. This information makes it easier for retailers to build their future marketing and management strategies based on current insights.

Here are some of the reasons Point of sale system is the way to go for retailers:

  • Order and Billing

The most common feature of the point of sale software is to simplify billing and transactions. The system you choose must feature the billing and order processing module that can scan the purchased goods and accept payment through different payment methods.

  • Track Your Sales Performance

Recording your sales performance can be a challenging and time-consuming task for retailers. You are going to need an accountant to record daily and weekly sales transactions in a systematic manner. You will need this data to generate accurate reports concerning the overall sales performance of your business.

  • Inventory Management

Another important yet tedious administrative task is inventory management. The POS software enables store owners to gather real-time inventory updates anytime and anywhere. Using this automated software, you can track the inventory as it goes in and out of the warehouse.

  • Customer Management

You don’t need to install a special software application for managing customer relationships. The POS software comes packed with the customer relationship management module that helps you track their previous purchases and expenditure. By providing your customers with personalized service, you can boost your relationship with your audience and help build their trust in your brand.

  • Employee Management

Usually, companies implement a separate module for managing employees’ performance. They opt for HR management system or employee attendance tracking software to automate all the employee management tasks. However, POS software can also be used for tracking the employee’s performance and their overall productivity.

  •  Purchase Orders

Another important module of the point of sale software is the purchase program. For medium and large-scale organizations, preparing the purchase order and forwarding it to the supplier can turn out to be a hectic job. As a business owner, you are supposed to list the products you need to add to the inventory.

  • Reporting and Analytics

Point of sale software generates accurate sales reports that allow business owners and managers to track their sales performance. From profits to business expenses, everything can be recorded and monitored from one place. It helps you gather real-time data in the most convenient way. If you choose to install the cloud-based point of sale software application, you can collect the sales, employees’ performance, and other such reports at any time and anywhere.

      8. Greater Accuracy

A point of sale system with an easy-to-use, touchscreen interface puts all the information your sales associates and cashiers need at their fingertips.  It eliminates manually keying in items and prices like you would with a cash register. Point of sale technology improves accuracy throughout your entire operation, with real-time data. Eliminating the need to upload or enter data into back-office systems — minimizing the risk of human error.

       9. Faster Service

Your customers do not want to wait in long queues. In fact, if checkout lines are too long, customers will get frustrated and put back the items they intended to purchase and walk out. A POS solution provides a faster checkout process than cash registers, especially if they’re using a barcode scanner to ring up the products.  POS technology allows you to make the most of the checkout experience to engage customers and make sure they leave with a good impression of your brand.

       10. Simplified Accounting

A point of sale system helps streamline the accounting process. Old-fashioned cash registers force accountants to sort through hundreds of receipts, but with a POS system, you can print reports and, in many cases, import data directly with your accounting software.

          In conclusion, a POS system can boost the performance of your business. As we have seen, these systems come with different features which allow you to perform various activities as explained above. You should be aware of the features you would require for successful management of your business. If you have not yet purchased a POS system for your business, you are indeed missing a lot. Look for it today to boost the performance of your business. At Robisearch Limited, we specialize in point of sale solutions for all business types.  Contact us today  on 0716413386 or 0780655987 to find the best option for your business.

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Uses of Online Suggestion Box

The digital feedback platform can be used for an array of activities. Some of these include employee feedback and customer feedback. Some of the uses are discussed below;

1. Employee feedback

This is very useful for an organization especially when there has been an internal change. The digital feedback platform can be used to check in with your employees and seek their opinions on the change that has been made and how it is affecting them.

You can also set up the digital feedback platform to send out questions at intervals so that your employees are free to share feedback and information in real-time.

For example, you can set up these questions for your employees on your online suggestion box:

  • Do the vision statements of the organization align with your personal goals?
  • On a scale of 1-9, how likely are you to leave the company?
  • Do you feel like the organization promotes a healthy work culture?

2. Product Feedback

Let’s say you just launched a new product. If you want to find out how customers are reacting to it, you can use an online suggestion box.

You can learn how the customers feel about the product if there should be an improvement or if they totally enjoy it from the feedback.

This method of customer interaction provides insight into how the customers perceive your products and why they would buy them.

For example, you can set up these questions for your customers on your digital feedback platform:

  • How well do you like the new product?
  • Which of our products would you recommend  to your friends?
  • Which product would you like us to introduce?

3. Customer Feedback

The amazing thing about the internet now is that your customers can become ambassadors for your brand if they are satisfied with your products and services.

In the same vein, your customers want a superb resolution service if they encounter any problem using your products and services.

An effective way to hear what your customers have to say is to provide them access to a virtual customer suggestion box where they can easily drop their opinions.

For example, you can set up these questions for your customers on your digital feedback platform:

  • Which of our products do you like best?
  • Which new product would like for us to introduce?
  • Do you have any further suggestions or ideas or questions?

4. Market Research

Conducting market research can determine how successful your business can be. Conducting the market research can be an additional cost for the organization. Therefore, you can use the  digital feedback platform to gather information from your target audience and target markets. You can even be contacted for an opportunity to collaborate.

For example, you can set up these questions for your customers on your online suggestion box:

  • Are the prices of our products fair for the quality they offer or are they higher or lower to what is obtainable from our competitors?
  • What stands us out from our competitors?
  • Would you give us a referral?

Conclusion

The importance of an organization or any business entity setting up a digital feedback platform or an online suggestion box cannot be stressed enough. If you are a business that is passionate about interacting with your customers and your employees and also getting honest feedback you should definitely set up one. Reach us on 0716413386 or 0780655987 and we will definitely help you out!

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FEATURES TO LOOK FOR IN AN INVENTORY MANAGEMENT SOFTWARE

 

Inventory management software is a tool that automates every aspect of inventory and warehouse management, streamlining the tasks required to effectively track inventory, manage reordering and update accounting data.

Since inventory management software is important to the daily operations of a business, it’s imperative that you select a solution that is reliable, effective and has the features you need. The following are some of the features that you need to look for:

  • Point of sale integration: An integration with your point of sale system helps retailers automatically track when a product sells, whether in a physical storefront, on an e-commerce platform or through another sales channel. When a product is scanned or checked out in an online cart, the point of sale system automatically updates the inventory management system, accounting for the sale in real time. Coupled with automated reordering, this feature allows retailers to ensure they always have a suitable amount of stock to quickly fulfill orders.
  • Inventory catalog: For retailers, it is important to be able to catalog inventory not just by the type of unit, but also by distinguishing characteristics like size, color and other distinguishing characteristics. For example, if you sell shoes, you should be able to specify shoes down to the specific type.
  • Automated reordering: When your inventory level is getting low, it’s important to order more with enough lead time to avoid running out, especially for your bestselling items. Many inventory management systems offer automated reordering; simply set your minimum quantities for each item and, when that number is reached, the system will automatically generate a purchase order to send to your supplier to refresh your stock level. Smart inventory management systems can also automatically optimize your reordering points and reordering quantities per item based on historical sales data to keep your inventory level at ideal quantities.
  • E-commerce integrations: Most retailers now sell across every sales channel – physical storefronts, e-commerce websites, online marketplaces like Amazon and more. It is critical for your inventory software to track sales on all channels so you don’t accidentally try to fulfill more orders than you have stock. Integrations with your e-commerce channels will help ensure you don’t run into this problem.
  • Product cost analysis: Product cost analysis tools not only track your raw materials and finished goods, reordering the necessary components when they hit minimum levels, it also helps predict your labor costs and operating costs, such as machinery acquisition and maintenance expenses. Look for an inventory management system that can generate a bill of materials that includes a description of all these costs
  • Forecasting:  Forecasting is the process of analyzing historical production and sales data to predict what future order management needs will look like. A forecasting tool can help improve the accuracy of this process. Software with a forecasting feature will analyze your data to determine optimal reordering points, hiring recommendations, and even shift schedules required to meet your targets and continue growing.
  • E-commerce integrations: E-commerce used to be only for retail, but today more manufacturers are selling directly to consumers. Finding an inventory software with e-commerce integration is also important for manufacturers, even if they don’t currently sell directly to consumers online, because they could use it streamline sales to their retail clients, or they could even expand to include an additional sales channel in the future.
  • Barcoding: Barcoding is the feature that warehouse management systems use to track the inflow and outflow of products in storage facilities. Workers can scan items in as they’re received, scan them when they’re moved to a specific aisle and bin, and then scan them again when they’re out for shipment – automatically tracking all movements.
  • Inventory management integration: While warehouse management is a subset of a wider inventory management strategy, the two are closely related and should be integrated. Look for a warehouse inventory management system that is seamlessly integrated with your larger inventory management software – most vendors offer this option.

Inventory management is key for any business that maintains stock of goods or raw materials on hand. While inventory management has  historically been a manual process, Robisearch Limited has eliminated the need for a labor-intensive and error-prone manual inventory management system. The Robisearch Point of sale has inventory management software that helps streamline the process, reduce errors and help businesses optimize the way they maintain and order the products they sell. Reach us on 0716413386 or 0780566987  for more information or any inquiries.

 

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BENEFITS OF THE DIGITAL FEEDBACK PLATFORM TO THE HOSPITALITY INDUSTRY

 

The most successful small business owners and managers are always looking for new ways to improve customer service. One simple way to provide excellent service is to ask customers directly how their experience can be improved. A suggestion box is a powerful tool for gathering customer feedback. If you’re a manager or owner in the hospitality industry looking for way to improve the customer service offered by your business, consider implementing the Robisearch digital feedback platform.

  • Small service problems will be brought to your attention, preventing them from becoming recurring issues.
  • You will develop trust in your brand. Customers appreciate seeing their feedback implemented.
  • Valuing customers’ suggestions will create a guest-first culture among your staff.
  • Personal attention to their needs will turn at-risk customers into brand advocates.
  • Taking time to attend to each clients concern turns new guests into loyal regulars thus growing your business.
  • By responding to the feedback from clients, you are completing the communication loop.
  • You will also be able to receive immediate actionable data that will help you improve and grow the business.

Robisearch digital feedback platform gives you the power to respond in real time, completing the feedback loop and dramatically improving all the benefits of the system. Its user-friendly interface encourages guests of all ages to give you personal, honest feedback. If you’re looking for the best way to reach your patrons online, reach out to us on 0716413386 or 0780655987.

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Advantages of Digital Marketing

Digital marketing typically refers to marketing campaigns that appear on a computer, phone, tablet, or other device. It can take many forms, including online videos, search engine marketing, paid social ads and social media posts.

Digital marketing is important because it connects a business with its customers when they are online, & is effective in all industries. It connects businesses with ideal customers when they are on Google through SEO & PPC, on social media with social media marketing, & through email with email marketing.

It’s necessary you understand the benefits of digital marketing for businesses, which include:

  •  Interactivity

Digital marketing lets you communicate directly with the customers who see your content, notably through website comments, messages, reviews, and social media posts. This shows those customers that you care about what they say and think, leading them to feel respected and part of the community you’re building. It also allows you to gather invaluable information on customers’ reactions and preferences.

  • Tracking

Besides communicating with customers, digital marketing lets you track their activities. You can monitor which ads and types of content they have seen shortly before they make a purchase. This tells you which marketing methods are most effective, allowing you to refine and improve your strategy.

  •  Authority

Digital marketing makes it easy to comment on issues and controversies that relate to your product or your industry. In this way, you can establish yourself as an authority on such topics, leading readers to trust you, come back for more information, and eventually make a purchase. Digital marketing allows you to come off as the industry expert that you are and will instill trust in your business.

  • Influencer Engagement

Many of the most influential figures in modern culture promote themselves online or through social media. Digital marketing allows you to engage with these influencers and gain their respect. If you play your cards right, you can get them to endorse you, leading their followers to become customers and spread brand awareness.

  • Print Enhancement

Digital marketing lets you expand on your print marketing efforts. By writing online content that explains claims you make in your print ads, you can go into greater detail, maximizing the effectiveness of all forms of publicity and integrating your campaigns.

  •  Multimedia

Customers tend to engage more with marketing materials that combine multiple types of content, including photos, video clips, and audio. It is far easier to incorporate all these content types into digital marketing than any other type of publicity – and it is very important.

  • Expansion

Many consumers do almost all of their shopping online. Digital marketing lets you appeal to these people and thus expand the reach of your company. Between Google Shopping Ads and brand awareness campaigns, you can expand your brand recognition and boost sales.

  • Flexibility

There are many forms and uses of high quality digital marketing, including banner ads, email marketing, content marketing, and social media posts. Thus by learning how to creatively market yourself digitally, you open up a wide range of possibilities for future publicity strategies. With digital marketing, you also have the flexibility of testing and stopping poorly performing campaigns in real time.

  • Affordability

Digital marketing is considerably less expensive than other marketing methods. Specific prices vary based on what you’re doing but ad spend tends to be lower than other forms of marketing.

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BUDGET MANAGEMENT SYSTEM IN KENYA

 

Most individuals and businesses have funds and resources that they would like use, spend or save, for a variety of reasons. Everybody has the freedom to do so. However, most of us end up wasting funds unknowingly and later on end up with little to no money. This mostly happens because we spent more money than they could make and probably did not keep track of the spending. Therefore, some people decided to come up with a plan that would help them know how they are going to spend their money. This spending plan is what is
known as a budget.
Budgeting is the process of creating a plan to spend your money. Most people do it manually using a bit of math here and there. It works only if one did it correctly and followed strictly. However, trying to account for large sums of money needed and resources available manually became tedious and time consuming. A lot of people would encounter budgeting errors due to miscalculation. This is where a Budget Management System comes in.

money spelled out in blocks

The Budget Management system helps you to plan for your expenses, allocate funds, and budget for other expenditures, then compare them later to see which exceeded and which matched well for the planning of the next budget. This system is very common and we use in various sectors in Kenya, from SMEs, large corporations and even all the way to the National government. Budgeting involves  four major processes, as shown below.

Major Processes involved in Budgeting

  1. Budget Preparation
  2.  Budget Authorization
  3.  Budget Execution
  4.  Budget Accountability

The processes involved in budgeting tend to overlap each other during implementation process.

TYPES OF BUDGETING

Basic Budget – its main purpose is to help map out simple expenses and income. A basic budget can be created in a spreadsheet or using a template and it is great and useful for home and business planning. They are usually easy to use and flexible, as most people use it with ease. It is very useful when you need to map out simple accounting information like personal or business expenses.

Master budget – The purpose of the master budget is to include smaller operation budgets and provide a larger picture of individual income and expenses. It gives a generalized picture of expenses as a whole. A business can utilize a master budget to plan for general expenses and identify expenses at a glance.

Short-term budget – this type of a budget aids enterprises or individuals plan for short term expenses and manage funds in a shorter time span (anywhere from a week to a few months). It provides a more focused look into short-term expenses, income sources and budgeting goals. They are great for clearing short-term debt too.

Fixed Budget – This type of budget controls when income and expenses aren’t expected to change in the short-run. It is very useful in providing a simple picture of fixed income and expenses. It can be used for everyday income and expense tracking especially when you are not expecting any change in either.

Flexible Budget -for planning different levels of activity in incomes or expenses in the short-term or long-term. It offers more flexibility to the budgeting process, planning for varying activity levels in the company’s picture.

It is generally used when one is expecting different volumes for incomes and expenses.

Labour budget – tracking the cost of labour in relation to revenue. It is part of the master budget that focuses only on labour for a more specific view of an individual expense. It is therefore used to track general labour costs or plan for upcoming reductions or increases in labour needs.

Cash Budget – this type of budget is used to plan for cash flow (inflow and outflow) for a specific period of time, usually in the short term. It focuses mainly on cash inflows and outflows for a more specific financial picture. Recommended for use when you are expecting a larger volume in cash flow.

Operational Budget – also known as a functional budget. It applies to one specific operation of a business is part of the master budget. The advantage is that it only applies to a specific department, operation or function of a business, instead of the business as a whole.

It is considered only a good option for when you are overhauling a specific department or operation of a business.

Performance budget – it is designed to analyze the performance or aspect of a business and determine whether the cost is worth the output and result. It focuses on a specific aspect of a business and helps determine if the input is worth the Return of Investments (ROI).

Can be used to identify costly methods of production and determine if certain functions and operations are creating a ROI.

Static budget – Used to account for astatic expenses that won’t change. Allow for a focused look at fixed expenses that remain constant despite fluctuations in sales volume and revenue.

 

Function of a Budget Management System for Businesses.

The Budget management System helps you set up and manage budgets for your business. It becomes very easy to understand how it works once you understand the kind of budget that will help you achieve the goals that you have set.

Furthermore, it also helps you view budgets and even generate a proper budgeting report. With such reports, you can also track budget performance against your actuals using the Profit & Loss Report feature.

Finally, a proper budgeting and accounting system can help you control and reconcile money between your business bank accounts.

At Robisearch Ltd, this feature is integrated in most of our systems as a module. It generally even makes work easier for those in charge of accounting and finance.

Robisearch Ltd offers the best digital solutions for businesses; SMEs to large corporate businesses.

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Advantages of Biometric systems

Brief History of Biometrics


There has been a huge shift & transformation in the kind of authentication methods currently being used in the market internationally. From the old traditional method of using signatures, stamps, word of mouth or even signature knocks. Believe me, this is how people would verify themselves a while ago before technology evolved to what it is now. It deemed to not be so secure and could be easily replicated or faked by other individuals for whatever reason, especially for ulterior motives.

Then came the use of PINs and Passwords after electronic devices came up and evolved from the traditional outdated means of communication and verification. This method should be familiar to you since we have encountered it one way or the other. Be it by pressing special set of numbers at the ATM machine so as to withdraw some cash (PIN), or by typing a special set of characters so as to access your email account or any other online account(Password).

The rules for using the latter had to be tightened to avoid using generic words as passwords, since one could easily figure it out. Despite the rules & instructions being tightened to help reduce weaknesses & vulnerabilities, hackers still find a way to gain access to our passwords, hence causing a data breach. Such incidences still proved this methods to not be failproof & fool-proof. This is where the emergence of Biometric Authentication as an idea, that later became one of the best tech inventions, came up.

Biometric Authentication methods relies on the use of unique physical traits on individuals eg; fingerprint, iris pattern, facial characteristics, making it such an accurate technique for authenticating its end-users. This is why a lot of smartphones and companies use biometrics for security purposes. In this post, I’ll tell you a little bit more about the importance & advantages of Biometric systems.


White Fingerprint

 

Advantages of Biometrics


  • High Security & Increased Assurance

Biometrics provide higher levels of security & increased levels of assurance to the users and parties involved, since the method of verifying each individual is a real, tangible & unique trait that the user has. The other methods of verification like user passwords and PINs have most often been compromised due to a data breach. Such occurrences cause billions of accounts and sensitive data & information to be accessed by fraudsters and hackers.

Using biometric authentication methods into the process adds an extra impenetrable block for hackers and fraudsters  that only the real user can navigate through. It might be easy for anyone to figure out the common denominator used across somebody’s passwords eg your mother’s maiden name, pet’s name or even your favourite child’s birthday. However, it is impossible to use someone else’s fingerprint or iris pattern to unlock and access an account if they cannot provide it on the spot.


  • Quick & Convenient

As much as the inner workings and internal processes of  a biometric authenticator is technical and may seem rather difficult, from a user’s perspective, it is incredibly quick and simple. Placing a finger on a fingerprint is much quicker than typing out a password that has multiple special characters. Moreover, forgetting your own biometrics is- simply put- not there.


  • Non-transferrable

Biometric authentication requires the actual user’s presence upon authorization. One can’t transfer or share a physical biometric trait digitally. The only way to use and verify your identity using a biometric authenticator is by being there physically.

Biometric Technology

 

Conclusion

Biometric authentication has been proven to be a reliable method of verification, identification and authentication. Trying to get through it is difficult and nearly impossible under most circumstances. Therefore this method of authentication is definitely safe, easy to use and I would highly recommend incorporating this method on your phones, schools, workplaces and other special places that need proper security.

At Robisearch Ltd, we offer Biometric Systems for schools, workplaces mostly for time attendance & security purposes. Would you be interested or know a friend/colleague who would? Don’t hesitate to share this article with them!

We offer free demos & training too!

Call us today at +254716413386, +254780655987

Email us: info@robisearch.com

Location: Suraj Plaza, 5th Floor, Opposite Jamhuri Highschool, Limuru Rd, Ngara, Nairobi, Kenya.

 

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