Monthly Archives: March 2015

Benefits of Custom Software Development

The closest relationship of a software company is with its client and to maintain a close knit relationship, the company needs to understand as its utmost priority to implement and execute the client’s requirement. At a stage when Business firms are striving to become unique achievers, a simple software package with readymade applications may restrict their winning possibilities.

For procuring uniqueness in Business objectives, customized or customer-friendly software is the best option. The role played by custom software development brings output as desired by the client. Customized software is prepared on the basis of the requirements and preferences of the client.

Tailor-made software prepared using the latest technology, only for the client’s purpose and not for the masses is what custom software development. Any complication or disapproval of the client that stems out can be modified at the time of preparation of the software with the client’s consent and this is where the foremost advantage of custom software development lies.

Once the product is made and sold to the client, there is no need to modify the custom software as it is already made for perfection. In case of a pre-developed software package, a client may have to go through a rigorous process of restructuring their objective in order to compliment the software application (which is generally not preferred).

Otherwise, they may have to contact the software manufacturer for modifications in the existing software to suit the requirements. This steals a lot of valuable time and money. The customized software is made for a single buyer or a group (a business firm) and thus the entire cost of development has to be borne by one customer which is not the case with off-the-shelf software.

Post-development, custom software saves time as the client does not require modifying the package. The time consumed during the preparation of custom software may be more. But, this should not be a hurdle in choosing between pre-developed and custom software for a business firm’s specific purpose as the product’s life cycle may stretch during the development stages. And why does it happen?

This is because; to procure perfect custom software as the end product requires rigorous probing to understand, analyze and accurately implement the ideas to shape up into a product. Again, pre-developed software may benefit in less expenditure, but the high cost during the development of custom software is due to intrinsic research and excess requirements as the product has to be a client desired output.

The output brings desired business results. Some of the examples of custom software development include software for mobile phones (phone access, automated mail triggers on event, interfacing with extreme systems and high security reports), custom data base design and web applications (constructing company websites).

A dedicated custom software company stays in constant touch with the client via tele-conference, phone or email and chat, irrespective of being offshore or onshore. This is the most important task as the needs can be communicated frequently and no scope for doubts is created. Both pre-development and post-development of the custom software require communication.

The former would provide the software company with information needed to start the development and the latter would be required to explain the working of a software application and also to remove any possible discrepancies.

The utilization of custom software procures faster, quality business results for the cost savings. A process-driven working model is followed by such companies which also involves pilot run and quality assurance tests.

The team involved in developing custom software has sound domain knowledge and also is well aware of the competitors in the business. In a fast paced business world where every firm is ready to outdo the other, working with a software that suits and is modified to the company’s needs and preferences is a viable option or lets say is a customized option.

Outsource Telemarketing On Lead Generation

The main purpose of Lead Generation is for a company to expand its market share through reaching the high-level decision makers of establishments involved within its target industry. Most Lead generation specialists are well versed in identifying the needs of the prospects and inspire the prospect’s executives to hire the telemarketing call center to help the prospects produce qualified leads and set appointments with the company’s sales teams. Outsourcing the lead generation process increases a company’s sales and revenues while decreasing the cost per sale expenses. Outsourced Lead Generation also eliminates a challenging management process. The main reason for outsourcing telemarketing services is that telemarketing call centers add effective sales orientation policies to get the best benefits from the market. Lead Generation campaigns must be done continuously to weather market trend shifts and changes in the global market economy.

Lead Generation involves a stringent process of identifying prospective customers, generation of a leads list and the launch of a rigorous calling campaign.

The first step in Lead Generation is being able to set criteria in order to identify the prospect which a client would want to have business or communicate with. Criteria are good jump off points in every campaign as it guides you as to what exactly you are going. However, in lead generation, a client’s criteria base must not be too specific or too general to make space for an ever-evolving market trend.

After establishing the lead criteria, a company’s marketing representative must know his or her lead source. He must be able to identify the sources of leads and be able to use these efficiently and effectively to routinely build leads and continuously update the leads list they currently have.

If a company decides to hire their own team of lead generation callers, they must be ready to train their staff on phone etiquette, identifying the prospects and their questions and issues regarding the service being offered. Also, a company must be ready to put up a workplace specifically designed for the lead generation telemarketers. They must also device a fool-proof sales script whose pitch sounds personal yet still has an element of sales and marketing incorporated.

When engaged in their own lead generation campaign, a company may also see it fit to have their own automated responder, such as Live Chat, wherein prospect customers may leave inquiry messages when they are unavailable to contact you via the phone. They may also leave their contact details herein to ensure that you may be able to get back to them as soon as a representative is available.

When outsourced, Lead Generation becomes more effective and practical as compared to maintaining you own private staff doing the job for you. For one, outsourced lead generation telemarketing is a cost-efficient alternative to an otherwise expensive restructuring of the workplace and the programs and software to be used in the campaign. The client may simply sign up for a month-long campaign and has the option to terminate the partnership after the contract or continue the campaign for a longer time.

Also, the company will be able to save on the costs of training which would otherwise be shouldered by the company if they decide to put on their own team. Outsourced Lead Generation campaigns maintain their own training team who have been doing lead generation campaigns for years and are therefore experts on the subjects of script making, phone etiquette and convincing techniques which will ultimately lead to a face-to-face appointment with a client’s sales representative.

Furthermore, telemarketing companies provide clients with regular progress reports to make sure that the representatives in charge of their campaign are performing according to their standards.

It is best to outsource leads generation needs to an established telemarketing call center or outbound telemarketing firms since these companies are equipped with the latest technology and the best people to do the campaign in a manner which clients expect from their own team.

Starting a Small Business From the Ground Up

From the housemaid in a small Texas town near the Mexico border to the CEO of a multimillion dollar corporation in the middle of Silicon Valley, all of us at one time or another have dreamed of opening our own business and making ourselves rich, rather than helping someone else get there. What’s great about today’s business climate is the relative ease with which young and old Americans alike, foreigners and natives, college educated and non, can start their own small businesses. If you’ve been dreaming of dropping out of the corporate grind, the minimum wage slavery, or just want to have more control over your destiny, read on for a look at how you too can become a sterling example of the American dream gone right.

You may be thinking: but I have no money. It takes money to start your own business. This is true, but seldom to people open their small business with their own money. Fortunately, we live in a country that encourages the entrepreneur, as long as he or she can demonstrate that they know what they’re doing. Banks are perhaps more eager to hand out small business loans than any other type. There are plenty of government agencies that can also be counted upon to give money to the aspiring small businessman. And then there are venture capitalists and angel investors who make their entire living putting money into startup companies in the calculated risk that they will see a positive return on their investment strategy. All you need is a great idea, a solid and complete business plan, and the type of personality that can convince those with money to hand it over.

If the business you’re planning to open is in the same field you’ve already been working in, you probably have a list of contacts already in the field. Now, there are ethical and legal considerations here. You can’t simply steal clients using inside information you have from working at another company. You can, however, use you contacts in the manufacturing and vending fields to help you get started. If you have personal relationships with your customers, there’s nothing wrong with letting them know you’ll soon be going into business for yourself. If they choose to give your company a shot, you should be in the clear. On the whole, however, it may be best not to go into direct competition with the company you’ve worked for. You can then use your coworkers and managers for help in getting off on the right foot. If your new business is at right angles with the company you’re leaving, you may be able to help each other.

Your next step is to research the marketplace. This should be done before anything else. You have to know what has worked in your chosen field and what hasn’t. What has been tried before and what might make a big splash in the industry. Don’t come to the dance with nothing new to offer. You can compete on prices, and you can compete on service. But the best form of competition comes in exciting innovation. Think of at least one great idea before you open your own business. Something no one else has tried. You will set yourself apart right from the start, and sometimes that’s all you need.

Effect of Annual Percentage Rate on Mortage Loan

Annual percentage rate (APR) is the simplified counterpart to the effective interest rate the borrower will pay on a loan. In many countries and jurisdictions, lenders (such as banks) are required to disclose the “cost” of borrowing in some standardized way as a form of consumer protection.

APR is intended to make it easier to compare lenders and loan options. The APR is likely to differ from the “note rate” or “headline rate” advertised by the lender, due to the addition of other fees that may need to be included in the APR. However the APR can be found simply by asking the lender, or reading the section about APR in your contract.

Lenders are required to disclose the APR before the loan (or credit application) is finalized (but note that the definition of APR is not the same in these two countries – see below). Credit card companies can advertise monthly interest rates, but they are required to clearly state the annual percentage rate before an agreement is signed.

APR is a term used with regard to deposit accounts as well. However, when dealing with deposit accounts, annual percentage yield (APY) or annual equivalent rate (AER) is the number to be quoted to consumers for comparison purposes.

This also explains why a 15 year mortgage and a 30 year mortgage with the same APR would have different monthly payments and a different total amount of interest paid. There are many more periods over which to spread the principal, which makes the payment smaller, but there are just as many periods over which to charge interest at the same rate, which makes the total amount of interest paid much greater. For example, $100,000 mortgaged (without fees, since they add into the calculation in a different way) over 15 years costs a total of $193,429.80 (interest is 93.430% of principal), but over 30 years, costs a total of $315,925.20 (interest is 215.925% of principal).

In addition the APR takes costs into account. Suppose for instance that $100,000 is borrowed with $1000 one-time fees paid in advance. If, in the second case, equal monthly payments are made of $946.01 against 9.569% compounded monthly then it takes 240 months to pay the loan back. If the $1000 one-time fees are taken into account then the yearly interest rate paid is effectively equal to 10.31%.

The APR concept can also be applied to savings accounts: imagine a savings account with 1% costs at each withdrawal and again 9.569% interest compounded monthly. Suppose that the complete amount including the interest is withdrawn after exactly one year. Then, taking this 1% fee into account, the savings effectively earned 8.9% interest that year.

Some classes of fees are deliberately not included in the calculation of APR. Because these fees are not included, some consumer advocates claim that the APR does not represent the total cost of borrowing. Excluded fees may include:

Routine one-time fees which are paid to someone other than the lender (such as a real estate attorney’s fee)

Penalties such as late fees or service reinstatement fees without regard for the size of the penalty or the likelihood that it will be imposed.

Lenders argue that the real estate attorney’s fee, for example, is a pass-through cost, not a cost of the lending. In effect, they are arguing that the attorney’s fee is a separate transaction and not a part of the loan. Consumer advocates argue that this would be true if the customer is free to select which attorney is used. If the lender insists on using a specific attorney however, then the cost should be looked at as a component of the total cost of doing business with that lender.

This area is made more complicated by the practice of contingency fees for example, when the lender receives money from the attorney and other agents to be the one used by the lender. Because of this, U.S. regulators require all lenders to produce an affiliated business disclosure form which shows the amounts paid between the lender and the appraisal firms, attorneys, etc.