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  • Cognizant – Transforming Businesses Digitally

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by the organization it is based on.

    Cognizant Technology Solutions, founded on January 26, 1994 by Kumar Mahadeva & Francisco D’Souza, is an American multinational IT services provider. It also provides consulting and business process outsourcing (BPO) services. In the course of dot com boom, it flourished by receiving the application maintenance work that the big corporations were reluctant to carry out. Gradually, it moved into application development, complex systems integration and consulting work.

    Cognizant grew rapidly during the 2000s and became a Fortune 500 company in 2011. It is a member of the NASDAQ-100, the S&P 500, the Forbes Global 2000 and the Fortune 500 and is positioned among the top performing and fastest growing companies in the world.

    Cognizant – Company Highlights

    Startup Name Cognizant Technology Solutions Corporation
    Headquarters Teaneck, New Jersey, U.S
    Industries IT services, IT consulting
    Founders Kumar Mahadeva, Francisco D’Souza
    Founded 26 January 1994
    CEO Brian Humphries
    Areas served Worldwide
    Website www.cognizant.com

    Cognizant – About and How it works?
    Cognizant – Logo and it’s meaning
    Cognizant – Founders and History
    Cognizant – Mission
    Cognizant – Business Model
    Cognizant – Revenue
    Cognizant – Funding and Investors
    Cognizant – Investments
    Cognizant – Competitors
    Cognizant – Controversies
    Cognizant – Growth
    Cognizant – Achievements
    Cognizant – Future Plans

    Cognizant – About and How it works?

    Cognizant Technology Solutions Corporation, incorporated on April 6, 1988, is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Company’s services include consulting and technology services and outsourcing services. The Company develops, licenses, implements and supports third-party software products for the healthcare industry, including solutions for health insurance plans, third party benefit administrators (TPAs), and healthcare providers. It provides IT Infrastructure management outsourcing services that include data center, infrastructure security, network and convergence, end user computing services and mobility.

    Cognizant – Logo and it’s meaning

    Cognizant’s old logo consists of two C’s – one vertical and one horizontal. The vertical C in the logo symbolizes the equality of its employees while the horizontal C signifies the corporation’s commitment to its customers.

    Cognizant's Logo Evolution

    A few months back, Cognizant launched its new logo. The core thought driving this transformed identity was the brand’s work and motto: digitally transformative, thereby, ensuring that their clients remain ahead of, or at par with their competition.

    Cognizant – Founders and History

    Kumar Mahadeva and Francisco D’Souza are founders of Cognizant.

    Co-Founder of Cognizant - Francisco D'Souza
    Co-Founder of Cognizant – Francisco D’Souza

    Cognizant began as Dun & Bradstreet Satyam Software (DBSS),established as Dun & Bradstreet’s in-house technology unit focused on implementing large-scale IT projects for Dun & Bradstreet businesses. In 1996, the company started pursuing customers beyond Dun & Bradstreet.

    In 1996, Dun & Bradstreet splits off few of it’s auxiliaries including Eriscon, IMS International, Nielsen Media Research, Pilot Software, Strategic Technologies and DBSS, to form a new company called Cognizant Corporation, headquartered in New Jersey, U.S. Three months later, in 1997, DBSS renamed itself to Cognizant Technology Solutions.

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    Cognizant – Mission

    Cognizant’s single-minded mission is to dedicate their business process and technology innovation know-how, deep industry expertise and worldwide resources to working together with clients to make their businesses stronger. Their aim is to be the number one solutions provider in each sector they provide service in, through integrity, competence, innovation and execution. Commitment to their customers, employees, licensees and shareholders is the foundation of their mission. They commit to being, “Open, Honest and Direct.”

    Cognizant – Business Model

    Like many other IT services firms, Cognizant follows a global delivery model based on offshore software R&D and offshore outsourcing. The company has a number of offshore development centers outside the United States and near-shore centers in the U.S., Europe and South America. In its early years, Cognizant gained business from a number of American and European companies with the help of the Dun & Bradstreet brand. The company’s senior executives foresaw the firm as a provider of high-end customer services at lower prices than it’s competitors Accenture, BearingPoint, Capgemini, E&Y, Deloitte and IBM.

    Cognizant – Revenue

    • Cognizant Technology Solutions revenue for the quarter ending September 30, 2020 was $4.243B, a 0.12% decline year-over-year.
    • Cognizant Technology Solutions revenue for the twelve months ending September 30, 2020 was $16.752B, a 0.75% increase year-over-year.

    Year Annual Revenue Percentage change
    2018 $16.783B +4.08%
    2017 $16.125B, +8.88%
    2016 $14.81B 9.81%

    Cognizant – Funding and Investors

    Cognizant is registered under the ticker  NASDAQ:CTSH . Their stock opened with $10.00 in its Jun 19, 1998 IPO.

    Cognizant has raised a total of $241K in funding over 1 round. This was a Post-IPO Equity round raised on Nov 18, 2016 by Summit Financial Wealth Advisors.

    Cognizant – Investments

    Cognizant has made 5 investments. Their most recent investment was on Nov 20, 2018, when Civic Hall raised $2M.

    Date Stage Amount Organization Name
    Nov 20, 2018 Grant $2M Civic Hall
    Sep 12, 2017 Series A $3.5M Cybrary
    Jan 17, 2017 Series B $22M Measure UAS
    Apr 28, 2016 Funding Round – ReD Associates
    Jul 7, 2000 Series A $10M Questra

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    Cognizant – Competitors

    One of the top most competitors of Cognizant is Infosys. Infosys Limited, is an Indian multinational corporation that provides business consulting, information technology and outsourcing services. Headquartered in Bangalore, India. Other competitors include Accenture(US), Insight, CGI and CIBER.

    Cognizant – Controversies

    • Bribery : Larsen & Toubro Ltd (L&T) paid million in bribes to Indian government officials on behalf of Cognizant Technology Solutions Corp. to secure permits, ranging from environmental clearance to power. L&T has made unlawful installments and Cognizant repaid the amount by masking it as pay for cost overruns.
    • Companies Act violations : Cognizant Technology Solutions Corporation has agreed to pay $25 million to settle charges that it violated the Foreign Corrupt Practices Act (FCPA), and two of the company’s former executives were charged for their roles in facilitating the payment of millions of dollars in a bribe to an Indian government official.
    • Layoffs : 20 senior executives, above the Director’s Level were dismissed because they were not able to catch up with the latest technologies. The number of the executives that were dismissed is unusually high and questions the ability of the company to catch up with the latest technologies.
    • Tax evasion : The Income Tax department has frozen Cognizant Technology Solutions Corp’s bank accounts and deposits in Chennai and Mumbai for allegedly evading a dividend distribution tax (DDT).

    Cognizant – Growth

    Cognizant is praised for it’s amazing pace of growth. Till December 2018, Cognizant has added $14.66 billion in revenue, or the combined numbers of what Wipro and Tech Mahindra Ltd could achieve. All the credit goes to the company’s super-aggressive sales culture as the firm always had more people managing it’s large accounts. Cognizant’s senior management comprises more people from outside the firm, unlike the insular approach followed by many other competitors.

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    Cognizant – Achievements

    • Cognizant recognized as a Top Provider in the Outsourcing and Consulting categories besides being named as a Customer Satisfaction Leader by CGT.
    • Ovum Decision Matrix recognized Cognizant as “Market Leader” in Outsourcing Testing Service Providers.
    • Consumer Goods Technology (CGT) awarded Readers’ Choice Award for the ninth consecutive year.
    • Forrester Research, Inc. named Cognizant a Leader in Business Intelligence Services.
    • Cognizant placed in IDC MarketScape as a Leader in IT and BPO Services.

    Cognizant – Future Plans

    A spokesperson for Cognizant said that it will continue to invest in the business, while decreasing certain costs in the wake of the Covid-19 pandemic wrecking havoc in the global market place.

    Brian Humphries, chief executive, Cognizant, said, “Today, we are announcing a simplification of our operating model and a cost reduction program, which will allow us to fund investments in growth. Looking ahead, we see a clear path to unlock the organizations full growth potential, win in our key digital battlegrounds, and return Cognizant to its historical position of being the bellwether of the IT services industry.”

    IT firm will go through a net reduction of 5,000-7,000 employees, either through attrition or role elimination. This accounts for around 2 per cent of its total employee base. Expecting a challenging demand environment after 2020, the company plans to invest in developing digital skills while correcting the employee pyramid, by on-boarding close to 20,000 entry-level hires.

  • Tips On Hiring The Right B2B Marketing Agencies

    In every business, marketing is a factor that largely contributes to the success, identity, and reaches of the company. Marketing can definitely be done in-house. Nevertheless, hiring a B2B (business-to-business) marketing agency will leave your company in the good hands of experts who know what they’re doing in terms of marketing. This way, you can focus more on your business and leave the marketing aspect to the experts.

    What Is A B2B Marketing Agency?

    Before getting into the details, you need to know what B2B marketing agencies are. B2B marketing agencies refer to organizations that market their client’s products to other businesses. In comparison with traditional marketing organizations, B2B marketing agencies don’t put their marketing efforts into directly selling to consumers. “B2B marketing” usually curates their proposals to be more straightforward and informational since, in this environment, “B2B marketing” is aimed for stakeholders of a certain business. With that, proposals need to be robust, personalized, and accurate.

    What Are Some B2B Marketing Tips On Finding The Right One?

    With that said, here are some tips on hiring the right best B2B marketing agency to help your business:

    Know What You Need

    The marketing needs of every business will vary depending on many factors that could be attributed to the business model, target audience, and products of the company. Having that mindset, you should first evaluate the marketing needs of your company. Look internally first before scouting for a third-party B2B marketing agency as these agencies also specialize in specific marketing needs.

    Each B2B marketing agency leverages on specific strengths and expertise. To find the right one, you need to match that expertise with your needs. For instance, if you’re in the construction industry, it would be best if you could get a best B2B marketing agency with a network of connections into that industry and have a lot of experience dealing with those. This way, they will know the ins and outs as well as the technicalities when they start marketing your products.

    Do Your Research

    Once you’ve shortlisted a few names that fit your industry, you need to do some research on the B2B companies. Do this by checking their websites, reading reviews online, and checking out the latest news on them. Their website should look professional and answer most of your questions. Remember that communication is key with marketing agencies, and if they can’t market themselves on their website, you should consider it as a red flag.

    Afterwards, you should also check out what other people are saying about their service online. Finally, to see if they’re reputable or not, seek out some news articles mentioning them. Doing so should give you an idea of how they’re doing in the market.

    Additionally, you can also judge by their list of clientele if they’re indeed doing a good job. Try to get a hold of a list of some of their clients. Then, you can do some cross-checking with their clients to see if the B2B marketing agency did a good job with them. At the same time, knowing the list of clients of a B2B marketing agency can tell you a lot about their exposure and achievements in marketing.

    Ask For A Strategy Presentation

    Once you have a good grasp of the background, work, and reputation of the B2B marketing agency, you can now proceed to touch base with them. It’s time to set up a meeting with the B2B marketing agency.

    Before hiring them, ask them to come up with a content strategy plan for you to see. It can just be a short draft or sample so you can assess whether or not you should hire them. You’ll also be able to see if their tone matches the culture and voice of your company.

    In addition to that, you’ll also see a glimpse of what marketing channels and platforms they intend to use. Be very thorough because contracts with B2B marketing companies are long-term.

    B2B Marketing Strategies 

    Ask For A Quotation

    Hiring the right B2B marketing agency also means hiring one that fits your pocket. Hence, the next thing that you need to do before hiring a B2B marketing agency is to ask for the costs and fees that they’ll be charging.

    Make sure that their fees will be within your budget. If not, hiring them will just go to waste and will be a big problem for you once you lack the cash to pay them.

    Meet The Team

    As mentioned, B2B marketing agency contracts are usually long-term. This means that you’ll be coordinating and working with the people in this agency for quite some time. That’s why it’s important to meet the team before hiring them.

    By meeting the people you’ll be working with, you’ll be able to get a good idea if your personalities will mix. Even though they’ll not be involved in running your business, they’ll be the voice of your company to other businesses. To make sure that both of you are on the same wavelength and will get along, meet them first, and evaluate if they’re a good fit from there.

    Verify Their Capacity and Speed

    When push comes to shove, you want to be confident that the B2B marketing agency can deliver and meet your demands. There will be times when marketing materials and pitches need to be rushed, and the B2B marketing agency should be able to cope with this.

    To give you an idea if they can execute this, you can ask for their historical calendars and output just to check their capacity and speed of execution. It’s also important to ask them about their capacity and speed of delivery without compromising quality. To know if they can indeed deliver good work, check out their past works.

    Conclusion

    To stand out in traffic and grab the attention of prospective customers, companies tend to hire a B2B marketing agency. Hiring a B2B marketing agency can be a make or break for your company. Being guided by the tips above, you’ll have better chances of investing in the right one that’ll transform your business. Just make sure that you do your own research and know what kind of marketing you need so that you can hire a B2B marketing agency for your company.

    Frequently Asked Questions

    How are B2B and B2C similar?

    “B2B” stands for “business to business,” while “B2C” means “business to consumer.” B2B businesses sell products and services directly to other businesses. Or, more specifically, they sell to the decision-makers in any particular business. B2C businesses sell products and services to customers for personal use.

    Why B2B is more attractive than B2C?

    The B2B market is perhaps smaller in numbers, but there are many more markets and these markets are together much bigger (in money value) than the consumer market. Therefore, when you add up all these relatively small B2B markets, they are bigger than the one B2C market.

    What is a b2b business model?

    Business-to-business (B2B), also called B-to-B, is a form of transaction between businesses, such as one involving a manufacturer and wholesaler, or a wholesaler and a retailer. Business-to-business refers to a business that is conducted between companies, rather than between a company and an individual consumer.

  • ResearchGate: Social Network for Scientists

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by the organization it is based on.

    ResearchGate is European commercial social networking site that provides a professional network for the scientific and research community to connect with each other to share, discuss research and share papers, ask and answer questions, and find collaborators.

    It was founded in 2008 by a group of scientists, and has quickly grown to become the biggest networking site of its kind, with over 11 million users worldwide. In fact, the number of users has more than doubled in only two years, and the site is even being dubbed the ‘Facebook for scientists’.

    ResearchGate – Company Highlights

    Startup Name ResearchGate
    Headquarters Berlin, Germany
    Industries Internet, Social Media, Professional Networking
    Founders Dr. Ijad Madisch, Horst Fickenscher, Dr. Sören Hofmayer
    Founded May 1, 2008
    CEO Dr. Ijad Madisch
    Areas served Worldwide
    Website www.researchgate.net

    ResearchGate – About and How it Works
    ResearchGate – Logo and its Meaning
    ResearchGate – Founders, Team and History
    ResearchGate – Mission
    ResearchGate – Business Model
    ResearchGate – Funding and Investors
    ResearchGate – Revenue
    ResearchGate – Competitors
    ResearchGate – Challenges Faced
    ResearchGate – Growth
    ResearchGate – Future Plans
    ResearchGate – Criticism

    ResearchGate – About and How it Works

    ResearchGate is an academic social networking site designed to facilitate access to academic research and collaboration between researchers. It was founded in 2008 by a group of scientists, and has quickly grown to become the biggest networking site of its kind, with over 11 million users worldwide. In fact, the number of users has more than doubled in only two years, and the site is even being dubbed the ‘Facebook for scientists’.

    Geoffrey Love, senior member of the Investment Division at Wellcome Trust, the second-highest spending charitable foundation in the world said: “ResearchGate is an innovative and widely-used platform, which connects researchers with their peers around the world. Through providing a space to share results and ideas, it is helping researchers to advance their research and develop applications that benefit society.”

    It has a blogging feature for users to write short reviews on peer-reviewed articles. ResearchGate indexes self-published information on user profiles to suggest members to connect with others who have similar interests. When a member posts a question, it is fielded to others that have identified on their user profile that they have a relevant expertise. It also has private chat rooms where users can share data, edit shared documents, or discuss confidential topics.

    Four main uses of ResearchGate:

    1. ‘Read and discuss problems’

    Scientists are able to look at each other’s work, discuss their research within the academic community, and create professional partnerships. Active forums can provide a platform for less experienced scientists to find support and advice from those more experienced, and users have described long-lasting professional partnerships beginning from a request for help with their experiment.

    2. ‘Create exposure for your work’

    The online community provides a convenient platform for showcasing research, even before publication stage. The question-and-answer forums and comment areas mean that scientists can take part in a form of peer review, and enquire about others’ work.

    3. ‘Get stats [statistics] on your research’

    ResearchGate has its own rating system (RG Score) to evaluate the impact of researchers and their work. However, this metrics system has caused some confusion, and even controversy; please see the section below for more information.

    4. ‘Connect with your colleagues’

    Search for other researchers and create contacts all over the world, while also keeping up to date with the latest scientific research.

    ResearchGate – Logo and its Meaning

    The logo of ResearchGate

    ResearchGate’s corporate logo starts with a process of discovery which reveals the organization’s  corporate identity and refers to company’s  values, its’ principles, personality, history, culture, strategy, structure, and all the actions, future plans and visions.The corporate logo creates a positive image in the minds of consumers and serves as a competitive advantage to enhance a firm’s  reputation by increasing visibility and  creating recognizability  and awareness about company’s promise of quality as a differentiator.

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    ResearchGate – Founders, Team and History

    ResearchGate was founded in 2008 by the physicians Dr. Ijad Madisch and Dr. Sören Hofmayer, along with computer specialist Horst Fickenscher.

    Founders of ResearchGate

    “Our goal is to free knowledge from the ivory tower, to digitalize it and make it accessible for everyone in order to accelerate scientific progress,” says Madisch, who is also the company’s CEO.

    It started when two researchers discovered first-hand that collaborating with a friend or colleague on the other side of the world was no easy task. Launched in 2008, ResearchGate was one of the earlier academic social networks on the Web. ResearchGate was founded in 2008 by virologist Dr. Ijad Madisch, who remains the company’s CEO, with physician Dr. Sören Hofmayer, and computer scientist Horst Fickenscher. It started in Boston, Massachusetts, and moved to Berlin, Germany, shortly afterwards.

    The company’s first round of funding, in 2010, was led by the venture capital firm Benchmark. Benchmark partner Matt Cohler became a member of the board and participated in the decision to move to Berlin.

    “ResearchGate is an innovative and widely-used platform, which connects researchers with their peers around the world. Through providing a space to share results and ideas, it is helping researchers to advance their research and develop applications that benefit society,” said Geoffrey Love, senior member of the Investment Division at Wellcome Trust, in a statement.

    ResearchGate has 6 current team members, including Co-Founder & CEOIjad Madisch. Bastian Hofmann – the Senior Software Engineer, Valeska von Mühldorfer – the Office Operations Manager, Tucker Park – Manager, Strategic Partnerships and Business Development, Sören Hofmayer – Chief Strategy Officer, and Horst Fickenscher – CIO and Co-Founder.

    The platform revolves around research papers, a question and answering system, and a job board. Researchers are able to create a profile that showcases their publication record and their academic expertise. Other users are then able to follow these profiles and are notified of any updates.

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    ResearchGate – Mission

    The company’s mission is to connect the world of science and make research open to all. 12 million researchers have made more than 140 million connections on the network, and share over half a million updates about their research daily. ResearchGate has completed four rounds of financing from Benchmark, Founders Fund, Bill Gates, Tenaya Capital, Wellcome Trust, Goldman Sachs Investment Partners, and Four Rivers Group.

    ResearchGate – Business Model

    ResearchGate is a for-profit enterprise. They have had two rounds of funding and have investors that have previously been involved with Facebook, LinkedIn and PayPal. Such investors obviously expect a return.  ResearchGate is building the site, user base, traffic and (user-generated) content. There are currently 12 million registered members, compared to 467 million currently on LinkedIn. (Membership is free on ResearchGate, the company instead makes revenues from things like recruitment and other advertising, both of which are being directed at exactly the audience that those advertisers want to reach.)

    ResearchGate – Funding and Investors

    ResearchGate has raised a total of $87.6M in funding over 4 rounds. Their latest funding was raised on Feb 28, 2017 from a Series D round.

    Date Stage Amount Lead Investors
    Feb 28, 2017 Series D $52.6M Goldman Sachs, Investment Partners
    Jun 4, 2013 Series C $35M Bill Gates, Tenaya Capital
    Feb 22, 2012 Series B – Founders Fund
    Sep 14, 2010 Series A – Benchmark

    ResearchGate – Revenue

    As LinkedIn continues to reign as the world’s largest social network for the wider working world, we are seeing the rise of alternatives that are besting and beating it in specific verticals. ResearchGate, a Berlin-based startup that provides a professional network for the scientific community to connect with each other to share and discuss research, is today announcing that it raised $52.6 in a Series D round of funding, bringing the total raised to over $100 million.

    This latest tranche of money comes from an impressive list of strategic and financial investors that include the Wellcome Trust, Goldman Sachs Investment Partners, and Four Rivers Group, Ashton Kutcher, LVMH, Xavier Niel, Bill Gates, Benchmark, and Founders Fund, some of whom (like Gates, Benchmark and Founders Fund) were investors in previous rounds. The startup has already been using the funds to build new features, such as Projects, to expand the functionality of its platform.

    ResearchGate – Competitors

    ResearchGate’s competitors include Academia.edu, Google Scholar and Mendeley. In 2016 Academia.edu reportedly had more registered users (about 34 million versus 11 million and higher web traffic, but ResearchGate was substantially larger in terms of active usage by researchers.

    The fact that ResearchGate restricts its user accounts to people at recognized institutions and published researchers may explain the disparity in active usage, as a high percentage of the accounts on Academia.edu are lapsed or inactive. In a 2015-2016 survey of academic profile tools, about as many respondents have ResearchGate profiles and Google Scholar profiles, but almost twice as many respondents use Google Scholar for search than use ResearchGate for accessing publications.

    ResearchGate – Challenges Faced

    Millions of articles have disappeared from ResearchGate, the world’s largest scholarly social network. In 2017, five publishers said they had formed a coalition that would start ordering ResearchGate to remove research articles from its site because they breach publishers’ copyright.

    A spokesperson for the group said that up to 7 million papers could be affected, and that a first batch of take-down notices, for around 100,000 articles, would be sent out “imminently”. ResearchGate declined to comment on the coalition’s statement, but its terms of service ask users not to store information that infringes copyright. They also state that because the site neither previews nor automatically reviews information that users have stored on it, ResearchGate can’t know about — and isn’t liable for — any possible infringements. The site says it will quickly disable access to infringing material after being notified of a problem.

    ResearchGate – Growth

    To begin with, it’s in the community’s growing job board where the founder sees future opportunities for monetization. As of now, companies and institutions post in the community for free, but Madisch says that down the road, one can imagine ResearchGate beginning to charge employers to post their listings in its job forum. The founder also sees an opportunity for monetization in creating a marketplace for scientific equipment and services within ResearchGate, allowing manufacturers and the companies responsible for making and distributing those services to get direct feedback from the community on what works and what doesn’t.

    ResearchGate has received substantial financial backing from venture capitalists and Bill Gates, but it is not clear how the platform will generate revenue. ResearchGate isn’t quite on the same growth curve as the two early social networks, but it’s begun to find some traction in the scientific community, having grown to more than 2.8 million members spread across 131 countries since launch, with 30 percent now logging in once per month.

    ResearchGate – Future Plans

    Matt Cohler(General Partner at Benchmark and Former VP of Product Management, Facebook) recognizes a similar ambition at ResearchGate to what he saw in his early days at LinkedIn and Facebook, and that, like those two businesses, the startup could be on its way to becoming a “true network effect business.”

    In the near-term, the ResearchGate founder said that company will focus on using its new $35 million to scale and ramp up growth and engagement. The company is also beginning to toy with the idea of creating an API and finding the best ways to open the platform up to enable third-party developers to build apps and tools based on the data being aggregated within its walls.

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    ResearchGate – Criticism

    ResearchGate has been regarded as one of the most attractive academic social networking site for scientific community. It has been trying to improve user-centered interfaces to gain more attractiveness to scientists around the world. Display of journal related scietometric measures (such as impact factor, 5-year impact, cited half-life, eigenfactor) is an important feature in ResearchGate. Open access publishing has added more to increased visibility of research work and easy access to information related to research.

    Moreover, scientific community has been much interested in promoting their work and exhibiting its impact to others through reliable scientometric measures. However, with the growing market of publications and improvements in the field of research, this community has been victimized by the cybercrime in the form of ghost journals, fake publishers and magical impact measures. Particularly, ResearchGate more recently, has been lenient in its policies against this dark side of academic writing.

    Therefore, this communication aims to discuss concerns associated with leniency in ResearchGate policies and its impact of scientific community. The site has been criticized for sending unsolicited email invitations to coauthors of the articles listed on the site that were written to appear as if the email messages were sent by the other co-authors of the articles and for automatically generating apparent profiles for non-users who have sometimes felt misrepresented by them. A study found that over half of the uploaded papers appear to infringe copyright, because the authors uploaded the publisher’s version.

  • The Salient Role of IoT in Building Smart Cities

    In today’s era, we can connect everyday objects—kitchen appliances, cars, thermostats, baby monitors—to the internet via embedded devices, and seamless communication is possible between people, processes, and things. A look at the IoT market reveals that the demand for IoT is only set to increase, with Forbes predicting that the IoT market is said to touch $250 billion by 2026. In 2021 itself, the IoT market has increased by 22.4%.

    In this article, we will talk about IoT and how it’s playing a big role in building smart cities. So let’s get started.

    What is IoT?

    Internet of Things (IoT) is mainly the network of physical objects that are set with sensors, software, and other technologies, this is done to get connected and exchange data with other devices and systems over the internet. These devices range from ordinary household objects to sophisticated industrial tools. IoT devices can communicate and interact with each other over the network/internet worldwide and can be remotely monitored and controlled by software devices.

    Advantages of IoT

    Improve monitoring

    Consider the task of monitoring a human cyclist riding on a road. There are many different parts of the overall system you can monitor. Some might be internal to the system, such as the cyclist’s heart rate or sweating rate. Others might be external to the cyclist, such as a slope of the road, or external temperature and humidity. You can go beyond the sensor data and look at how that data is captured and transferred.

    New business opportunities

    IoT has created many business opportunities such as, It can manage your storage units, measure inner company resources, check if all of your hardware is in order and make requests to your suppliers.

    Capabilities to predict and act

    A key opportunity about Iot is the ability to predict needs before they arise and act with precision based on insights from the IoT network. Collected data can be used to predict and put you in front of issues before they occur. For example, manufacturer warranty and maintenance information can be paired with IoT-collected data to predict maintenance incidents.

    Automation

    IoT home automation is a smart home powered by IoT. Instead of manually going up to the device and taking action, many of the actions can be taken at the press of a button. These days, most smart IoT home automation devices allow you to control them via an app or even via voice commands.

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    What Industries Can Benefit from IoT?

    Manufacturing

    Manufacturers can gain a competitive advantage by using production-line monitoring to enable proactive maintenance on equipment, when sensors detect an impending failure. Sensors can also measure when production output is compromised. With the help of these sensor alerts, manufacturers can quickly check equipment for accuracy or remove it from production until it is repaired. This allows companies to reduce operating costs, get better uptime, and improve asset performance management.

    Automotive

    The automotive industry has experienced significant advantages from the use of IoT applications. In addition to the benefits of applying IoT to production lines, sensors can detect impending equipment failure in vehicles already on the road and can alert the driver with details and recommendations. With the aggregated information gathered by IoT-based applications, automotive manufacturers and suppliers can learn more about how to keep cars running and car owners informed.

    Transportation and Logistics

    Transportation and logistical systems benefit from a variety of IoT applications. Fleets of cars, trucks, ships, and trains that carry inventory can be rerouted based on weather conditions, vehicle availability, or driver availability, thanks to IoT sensor data. The inventory itself could also be equipped with sensors for temperature-control monitoring.

    Retail

    IoT applications allow retail companies to manage inventory, improve customer experience, optimize supply chain, and reduce operational costs. For example, smart shelves fitted with weight sensors can collect RFID-based information and send the data to the IoT platform to automatically monitor inventory and trigger alerts if items are running low.

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    What is a Smart City?

    In general, a smart city is a city that uses IoT technology to provide services and solve city problems. Smart cities use a combination of the internet of things (IoT) devices, software solutions, user interfaces (UI) and communication networks. Theoretically, any area of city management can be incorporated into a smart city initiative. A classic example is the smart parking meter that uses an application to help drivers find available parking spaces without prolonged circling of crowded city blocks.

    Energy conservation and efficiency are major focuses of smart cities. Using smart sensors, smart streetlights dim when there aren’t cars or pedestrians on the roadways. Smart grid technology can be used to improve operations, maintenance and planning.

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    The Salient Role of IoT in Smart cities

    Connected technologies and IoT solutions for smart cities play important roles in transforming cities into smart cities. Implementing a smart city with IoT and connected technology helps to enhance the quality, performance, and interactivity of urban services, optimize resources and reduce costs.

    1. Smart Infrastructure

    Smart infrastructure in smart cities, include advanced connected streets, smart parking, smart lighting, and other transportation innovations.

    Smart Lighting

    Smart lighting is an IoT driven technology that offers immediate results. Smart lighting is usually energy-efficient, which uses high-efficiency LEDs equipped with sensors that provide optimum lighting based on pedestrian and vehicle traffic needs. When a street is empty, lights dim—and money and resources get saved. Parking lots can be dimmed during work hours and will illuminate when a car enters, while the rest of the parking spaces can be kept at diffused settings.

    IoT Smart lighting
    IoT Smart lighting 

    Smart Parking Management

    Smart parking management is an IoT based system, which is used in parking lots to find the vacant location for a vehicle at different public places. Wireless sensors are embedded into parking spaces, transmitting data on the timing and duration of the space used via local signal processors into a central parking management application. Smart Parking reduces congestion and decreases vehicle emissions. For effective deployment of smart parking technologies, each device needs to have reliable connectivity with the cloud servers.

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    2. Smart Buildings & Properties

    Safety & Security Systems

    Safety & Security Systems implemented in smart cities involve implementing remote monitoring, biometrics, IP surveillance cameras, and wireless alarms to reduce unauthorized access to buildings and chances of theft. It also includes utilizing Perimeter Access Control to stop access to restricted areas of the property and detect people in non-authorized areas.

    Smart Garden & Sprinkler System

    Smart sprinkler system synced with IoT is used to water plants with the assurance that plants get the right amount of water. Smart garden devices can also perform tasks such as measuring soil moisture and levels of fertilizer, helping the city authorities to save on water bills, and keep the grass from overgrowing in a convenient way.

    3. Smart Energy Management

    Smart Grid

    Smart grids are digitally monitored, self-healing energy systems that deliver electricity or gas from generation sources with the help of Various IoT solutions. Smart grid solutions can be used across industrial, residential as well as in transmission and distribution projects. Various IoT solutions like gateways can be used to achieve energy conservation at both the transmission level and consumer level. For e.g., gateways can provide a broader view of energy distribution patterns to utility companies with high connectivity and real-time analytics.

    Smart Meters

    Smart meters can be used in residential and industrial metering sectors for electricity and gas meters where there is a need to identify real-time information on energy usage. Consumers and utilities with smart meters can monitor their energy consumption. Moreover, energy analytics, reports, and public dashboards can be also accessed over the internet using mobile applications integrated with IoT applications.

    Internet of Things is reshaping almost all industries by enhancing the customer experience. It has proved that we will live in a smart world –smart homes (Home Automation), smart cities, and it is designed to make our lives more convenient. While the IoT is already boosting efficiency, productivity, and safety, the future of the IoT could disrupt enterprise business models, too.

  • Everything You Should Know About Family Business Ideas

    When we think about starting a business, one of the main points is to think of an idea of what your business will be based on. If you are thinking, planning, and dreaming to start a business then starting a family business idea will be a smart way to explore your existing talents to create extra income and also helps in a move from a 9 to 5 work schedule. Through this business, you will give support to your family members, you just only need to pick up an idea and move forward to that idea.

    There are lots of family business ideas but you need to select among those ideas according to your interest. When you start the business with lower pressure with your family member you need to give time and energy. So starting a family business can be a popular way to make a living. If you’re interested in starting your own family business, take a look at the potential list of family business opportunities below.

    Child or ElderCare

    One small business option to start with your family is the child or elder care business. One benefit of this business is that you can care of them in your place/residence or in the residence of the person whom you are taking care of. You can start this family business by advertising or from your network. This business is now becoming popular because:

    Women have to work who have children.

    • Millennials are planners
    • Today’s mothers are older and mid-career
    • The next generation is up in the air
    • Flexible work options
    • Care subsidies
    • Support groups

    2.Errand Service

    If you need of getting extra cash an easy way to get is to offer to run Errands. As people get older they are not capable of managing daily tasks such as grocery shopping, picking up prescription medicine, and more. That’s why Senior citizens often hire errand runners to do the tasks they no longer can do. Some steps to keep in mind to start this business:

    • Legal Structure
    • Name Your Business
    • Insurance
    • Gather Supplies
    • Choose Services
    • Set Your Prices

    Some benefits of this business are following:

    • More time in your day
    • More time with family and friends
    • Reduced stress levels – your health can improve
    • Less worries
    • No waiting in lines
    • More leisure time for yourself
    • Less wasted time in traffic
    • Enjoy your lunch hour at work
    • Less downtime at work
    • The pleasure of knowing your life is under control

    3.Celebration Boxes or Baskets

    If you and your family love to craft and want to make money with this skill then this a great idea to start a business. You just need to create gift baskets or celebration boxes for friends and family. In this business, there is no need to rent space for your business. There are various types of boxes you can made:

    • Off-to-college box
    • Graduation box
    • Birthday box
    • New baby box
    • Wedding box
    • Anniversary basket
    • Proposal box
    • Housewarming box

    With this business any of life’s big moments can be celebrated. And the box will be designed according to the buyer’s preference.

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    4.Retail Arbitrage

    If you like to do an online business with minimal interaction then this business will be great for you.

    In this business, you can buy a product from local stores and sell at with higher price in the different marketplace or online marketplaces for a profit. And the items which you purchased sell them on Amazon, eBay, Jet, Walmart.com, Etsy, Craigslist, Facebook Marketplace, Offer Up, Let Go, and many others.

    5.Tutoring

    Some students need some extra help to ensure that they are excelling in their studies. Then you will need knowledge of the subject which you want to teach. More important required is kindness and patience. In this business timing are flexible. There are many more growths and expansion of this tutoring business as time passes people will know about you then many more students come to you. Some tips which will be very much important to start this:

    • Determine the subjects and educational level where you can help
    • Make a list of potential students
    • Decide how you’re going to provide tutoring services
    • Gather the tools you’ll need to provide tutoring services
    • Decide on your pricing and policies
    • Decide on your business structure
    • Create a business name
    • Obtain needed permits and licenses
    • Write a business plan
    • Map out a marketing plan
    Year-Wise list of no of family businesses run above or below 25 years
    Year-Wise list of no of family businesses run above or below 25 years

    6.Gardening or Lawn Care

    If you love to spend time outside and love to taking care of plants also have a passion for gardening then starting this business will be very much profitable for you. Many people love to have fresh vegetables in their garden and green, weed-free grass, but simply don’t have the time to maintain either.

    In this business, there will be needed some equipment. And you can become the master of your destiny and you can devote much little time from your work schedule to take care of this business. You have very flexible timing whenever it will be possible you can work. You also can enjoy the fresh air, get a good cardiovascular workout, and bulk up your muscles.

    The basic types of lawn and landscaping businesses include:

    • Lawn mowing/maintenance
    • Sod installation/hydroseeding
    • Weeding or fertilizer and/or pest control application
    • Landscape care/maintenance services
    • Landscape design/contracting services
    • Landscape architecture services

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    7.Freelance Writing/Media

    As the content writing business increasingly growths online business, companies need a steady supply of fresh content that helps them stand out from the crowd. If you are passionate about decent writing also with a good design then you can use this to showcase your skills to your clients. If you are truly a beginner, your best bet would be to start writing the kinds of articles you’d like to be paid for and posting them on free platforms like Medium. Freelance writing can be very much rewarding and full of fun if you truly show your interest. Your customers will be the editors of your target publications.

    You’ll need a computer, a laser printer, a fax machine, and the usual office software. Also besides, you’ll want plenty of reference books, including a dictionary, encyclopedia, and style guides.

    8.Gourment Baking

    Baking is a hobby that can be a family business with a little bit of patience. You can start this by simply a few recipes and designs and serve them in your local community gradually you can expand this business. There are two main types of bakeries: retail and wholesale. Retail bakeries are the most common type of bakery, and they are the bakeries that sell baked goods and bread directly to customers. The other main type of bakery is wholesale bakeries. Rather than selling their products directly to customers, wholesale bakeries market their baked goods to businesses like grocery stores, restaurants, delis, and cafes. Which you want to choose depends on your interest.

    Some tips to start this business:

    • Write a Business Plan
    • Obtain Loans and Startup Capital
    • Leasing a Commercial Space
    • Permits and Licenses
    • Designing a Layout

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    9.Event Planning

    Starting from weddings to many other parties which are part of our daily culture. To plan all the things properly there will be a need for some successful event planner  can maintain all the activities. According to Goldblatt’s research, profits in this industry continue to rise.

    There are various types of events:

    • Celebrations (fairs, parades, weddings, reunions, birthdays, anniversaries)
    • Education (conferences, meetings, graduations)
    • Promotions (product launches, political rallies, fashion shows)
    • Commemorations (memorials, civic events)

    10.Interior Design Service

    If you have a knack for planning spaces and coordinating furnishings and accessories, then this is the field for you. Many specialize in a particular type of design like kitchen design or lighting solutions, and many augment their income by selling decorative products like accessories and furniture. With creativity, imagination, and a good eye for form shape, and color you can become an interior design professional.

    Some steps which will be help for starting this design business:

    • Determine what services you’ll offer
    • Focus on your style & specialty
    • Choose a catchy business name & register it
    • Build a beautiful website
    • Build a portfolio
    • Set your rate
    • Promote the heck out of your business
    • Start a blog
    • Have a dedicated work space
    • Build relationships with suppliers & contractors

  • Guide to Improve Listening Skills

    Listening is an indispensable part of the communication process. Listening skill aids in establishing an effective link between the management and the employees. Listening skills also influence consumers and other businesses. So, it becomes necessary for every person to have good listening skills in business as well as in daily life. To develop good listening skills and become a good listener, one should know the qualities of the same.

    A good listener is someone who hears carefully, attentively, and sympathetically for giving support and understanding to the speaker.

    Why is listening important in  Business Organisation?

    Listening is an important part of business communication as it lets you acquire facts that may help in making decisions that benefit your business. Listening helps in:

    Gaining Information

    Listening gives additional insights; for example, listening to a job applicant helps to discover his attitude towards the profession and information not detailed in his resume. This information can help us decide the suitability of the applicant in the organization.

    Conflict Resolution

    Workplace conflicts and unhappy customers create an inefficient work atmosphere. Good listening can turn this situation into an opportunity for growth.

    Productivity

    Effective listening affects the productivity of the organization. By listening to the employees, the manager can solve the problems that increase the efficiency of employees.

    Creating Powerful Working Relationships

    In establishing effective working relationships between different parts of the organization, listening plays a key role. The working relationships include employee groups, between management and staff, and suppliers or vendors.

    Types of Listeners 

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    Ways/tips to be a good listener

    Be Interested

    Pay attention and be interested. People think that listening means being quiet until it is their turn to speak, but it is not. Listen with all your senses, and give thoughtful attention(non-judgemental, open-minded, and respectful) to another person.

    Listening is receiving

    Through listening, we gain trust and receive the vulnerability of another person. Be a blank canvas for another person by letting the speaker share ideas, thoughts, feelings, and whatever else is going in his mind. Let the person know that you are interested by nodding head or smile.

    Maintain eye contact

    A good listener makes eye contact while having a conversation with the speaker. Adjust yourself to the person talking by noticing the degree of eye contact they are making with you throughout the conversation. In this way, people feel understood.

    Avoid Interrupting the speaker

    Provide enough space for the speaker to let it all out without any interruptions. Interrupting the speaker to agree or disagree causes the speaker to lose track of what they are saying. After the speaker stops speaking, you can give your opinions.

    Acknowledge And Empathize

    Good listening does not mean complete silence. When the time comes to speak, restate to the person what you heard them say. Use a responsive tone rather than being reactive. Empathetic connection towards the speaker helps in forming a good relationship.

    Ask Questions

    Asking questions frequently is one of the best ways to show that you are engrossed in listening. Use open-ended questions that demand more than a yes or no response.

    Do not give unasked advice

    You may have a lot of good ideas and pieces of advice for the person speaking to us about their problems. Offering solutions may hurt people’s feelings.

    Think Before Responding

    When you speak, let your words be a reflection of your careful listening.

    Use Positive Body Language

    A good listener always leans forward and expresses interest in what is being spoken. By smiling or showing concern, they let the speaker know that they are being heard. Correct body language makes you a good listener.

    Make an offering

    After acknowledging and empathizing, you have the option of offering more help to the person. You can ask them if they need any help or feedback from you. This shows that you care for them, and they will be comfortable talking to you.

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    What Makes People Poor Listeners?

    Many barriers can hinder productive listening. These barriers include disturbances, incapability to prioritize information, jumping to conclusions, and tendency to assume. The most common barriers to communication are under-

    Barriers to Active Listening

    Low Concentration

    Low concentration can result from various psychological or physical factors such as visual distractions, lack of interest, stress, or discomfort. Both the listener and speaker should be aware of these hindrances so that there is no barrier to communication.

    Lack of Prioritization

    Focusing too much attention on least important information can lead to a lack of prioritization. Listeners should be able to pick the important points while listening.

    Poor Judgement

    Overlooking aspects of the communication and making judgments before all of the information is presented is the cause for poor judgment.

    Focusing on Style, Not Substance

    Distracting elements in a speech can divert information away from the most crucial information in the communication. To avoid such obstructions, listeners should be informed of biases and focus on the substance rather than the style of the speaker’s voice.

    After knowing what hinders the communication, both listener and speaker should try not to do the aforesaid things.

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    Benefits of Being a Good Listener

    You will Be More Focused

    Good listening requires the listener to pay attention to what others are saying. This quality to focus is a great tool in every situation, as focusing helps in knowing things/information in a better way.

    In Building Strong Relationships

    When you are a good listener, you connect with others effortlessly by showing you are trustworthy, honest, and supportive.

    You will Process Information Better

    When you are not focused on a specific outcome out of the conversation, you will be present-  which allows you to focus on the current situation instead of wandering anywhere else. This helps in getting the important information you need.

  • How Does Network Marketing See A Bump And A Crash?

    According to a report of the Federal Trade Commission, 99% of all Multi-level Marketing (MLM) or Network Marketing companies fail, surprisingly, these failures come even before the companies have had a chance to flourish a profit.

    Network Marketing is a type of business model which depends on person-to-person sales by independent representatives, mostly working from home. Also known as multi-level marketing, it involves a pyramid-shaped network of people who are responsible for the sales of the products. The participants in this network are usually paid on a commission basis for the following tasks like selling a product, their employees make a sale of the product.

    This model involves a pyramid structure of non-salaried people who get paid whenever they or a person below them in the pyramid makes a sale. A common example is the Avon commission program in which women sold products for makeup, door to door. Modern examples include marketers who advertise the products of other companies on their own blogs or websites. Let us see the complete story on the topic- How does Network Marketing see a bump and a crash?

    Beginning Phase of Network Marketing in India
    Growth of Network Marketing in India
    The Bump and The Crash

    Beginning Phase of Network Marketing in India

    Network Marketing Growth in India
    Network Marketing Growth in India

    Network marketing industry took birth around 1886, with the start of Avon. Direct interaction with customers was greatly successful. Nutrilite in 1945 started an evolution when it came up with MLM compensation plans. In this, the individual representative got the opportunity of establishing their own business by bringing new distributors into the business and earning revenue from their own sales and the sales of  the distributors.

    When this plan succeeded, global players like Avon, Tupperware, and Amway stepped into international markets of  India, Brazil, China in the 1990s .

    Network Marketing came to India in the 1980s with companies like Amway, Avon, Oriflame, Modicare, etc. In less than two decades, the direct selling industry has furnished 5 million self-employment opportunities.

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    Growth of Network Marketing Industry in India

    Network Marketing Future in India
    Network Marketing Future in India

    According to the blog post on the topic:- 10 most popular MLM multi-level marketing companies in India by bestwebsiteinindia.com

    • More than 1.5 million Amway Business Owners are present just in India.
    • Tupperware, Avon come under Fortune 500 companies.
    • Modicare has a network of about 2.5 lakh members.

    MLM Business revenues were more than 4500 crores in 2015-16 based on the Indian Direct Selling Association report(IDSA).

    Future looks promising for Network marketing in India, a report by KPMG in India and FICCI states a whopping growth of ₹645 billion by 2025.  It almost doubled in the year 2016 when compared with the year 2011. From the report of Assocham, it is evident that it will touch the record of around 159.3 billion in 2021. The average sale is increasing for each individual, and it is almost about $300 annually.

    According to a survey held during the year 2015-16, around 50,000 people gained benefit from the MLM opportunities offered by the direct selling companies. Government schemes like Digital India, Make in India, Skill India motivated the growth of network marketing.

    Policies like FDI (Foreign Direct Investment) policy and consumer protection bill will offer a retaining environment for the MLM business.

    It has also impacted social and economic factors like the empowerment of Women (around 3.4 million females are distributors of MLM business), Contribution to the Government Sector(helps in improving the Indian economy with its huge revenue), during the year 2013, the tax generated was around INR10 billion, started Social Responsibilities, Network marketing companies have supported social responsibilities. For example, Amway’s Sunrise project and Avon’s Breast Cancer crusade.

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    The Bump and The Crash

    Even with several years of significant increase and contribution in the Indian economy, this industry is considered regardless of the business. This is due to the Ponzi and Money Circulation schemes. Lack of awareness and knowledge makes people fall in scams and blame the whole industry.

    In most cases, a low success rate is the byproduct of poor planning or execution, perhaps even both.

    Illegal companies were the biggest hurdles in making network marketing success. On 9th September 2016, the Indian Government issued the guidelines to regulate the MLM companies in India. Prior to this, there were 3000+ legal/illegal companies in India. After the regulatory, 90% of fake Ponzi schemes companies were shut.

    The following schemes lead to the fall of the Network Marketing industry in India:

    1) Pyramid Schemes

    A pyramid scheme in Indian law is a scheme where the organizer forms a structure of a pyramid which starts with one person, who represents the tip of the pyramid and subsequently adds the levels below.

    Recently, the Reserve Bank of India (RBI) cautioned investors against pyramid scheme fraud,  that promise easy or quick money upon enrolment of members. The RBI advised that the public should not be tempted by promises of high returns offered by multi-level marketing companies, that run network marketing.

    2) Money Circulation Schemes

    A money circulation scheme is defined as any scheme which assures quick and easy earning money through money chain or if someone demands money from another in order to invest it into a money circulation scheme. Money Circulation Schemes or money chain business are not legal in India.

    3) Ponzi Schemes

    A Ponzi Scheme is a fraudulent investment scheme and is a kind of MLM fraud which promises a high rate of return to its investors.

    The cash inflow of the new investors is used to pay returns to old investors. Thus,  any problem with the constant flow of investors makes the whole scheme crash. for example, as many as 650 people, especially housewives, were duped of more than Rs 8.16 crore in the nut case fraud in Cyberabad.

    The busting of multi-level marketing (MLM) companies fraud by the Cyberabad police resulted in the freezing of Rs 550 crore in bank accounts.

    4) Chit Funds

    A chit fund is defined as a transaction by or under which a person enters into an agreement with a specified number of persons that every one of them shall subscribe a certain sum of money by way of regular instalments over a definite period.

    • Each such subscriber in chit fund shall, in his turn, is entitled to the prize amount.
    • The way it works is that a group of people contribute a fixed sum of money after this, any member can draw a lump sum through ways such as a lucky draw.

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    Conclusion

    From the above statistics, details, it can be deduced that the Network Marketing industry has great potential to develop more success in the future of India. Prediction is that will reach around network marketing growth in India 159.3 billion in 2021 and INR645 billion by 2025. It involves 58% of women workforce.

    Although choosing a reliable MLM source is crucial otherwise one can easily fall into scams and lose crores of money.

    The next time offers an easy business that will change your fortunes, think twice!

    FAQs

    What is the future of network marketing in India?

    Beginning as a part-time job, direct selling has now a proper path in career-building opportunities. In the spam of the last five years, it has emerged as a viable source of income and growth in business marketing. Network marketing growth in India has drastically spiked in recent times.

    What is the scope of Network Marketing?

    To promote Network Marketing business and direct selling Indian Govt approved 100% FDI Policy. So we can say that the future of network marketing is very good in India and this sector will give lots of jobs opportunity. You can join any best direct marketing companies in India to start extra income.

    How many network marketing companies in India?

    457 Network Marketing Companies

  • Pros and Cons of Outsourcing Businesses

    Globalization has transformed the whole business scenario, and the way of doing business has changed a lot. There are no more limitations that were earlier imposed by geographical borders. This has increased the scope of global outsourcing. Outsourcing has its own pros and cons.

    What is Outsourcing?

    Outsourcing is the process of obtaining goods or services or both, on commercial terms, from third-party suppliers. Outsourcing is a form of partnership or rather a practice by which companies prefer to transfer portions of their services to the outside suppliers instead of completing the work internally. In simple words, outsourcing means sourcing goods and services from outside vendors.

    When small business owners talk about outsourcing, they’re usually thinking of farming out content work to freelance writers, hiring an accountancy firm to take on the bookkeeping, or relying on an employment agency to track down and deploy hired help.

    Outsourcing

    What can be Outsourced?

    Broadly speaking, any job can be outsourced. However, most companies that opt for outsourcing choose to outsource those roles that are meant to support the central role of the companies and to help it in the accomplishment of its strategic vision. Companies also outsource the day-to-day, mundane, repetitive works to other companies to de-clutter their schedule and focus on more important work.

    The job sectors that are commonly benefited by outsourcing are manufacturing, distribution, research & development, IT services, and call center support.

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    Top Factors Influencing Decision to Outsource

    Advantages of Outsourcing

    In the right context and deployed shrewdly, outsourcing can be a fantastic way for small business owners to improve efficiencies and bolster their company’s bottom line.

    1) Time-saving: One of the top reasons small businesses tend to outsource work is because it will get done quicker. Outsourcing will help you and your company to spend more time working on the core business. The time that you could spend on the non-core business will be enough to concentrate on expanding service productivity in the field of interest.

    2) Reduced operational costs: As one might imagine, outsourcing piecemeal work is almost always going to be cheaper than hiring permanent full-time staff. Once you contract out some of the services to an outside supplier or company, you are surely going to save on an extra amount you could invest in setting up the technology to support the outsourced services. Here you also cut off the operational cost in infrastructure.

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    3) Access to expertise: Your core team might be fantastic at a few things, but nobody is perfect at everything. By outsourcing particular tasks, companies are often able to substantially improve performance by drawing on the niche skills of experts in certain fields.

    4) Sharing Risks: One of the most important factors in any project is risk assessment and analysis. By outsourcing certain campaigns or processes to experts in their respective fields, you will benefit from their enhanced ability to plan and mitigate potential risks.

    5) Simplified project management: If you choose to outsource work via a wide range of specialist freelance websites and online services, you’re often provided dynamic and intuitive platforms that will help you to effectively manage what’s being done, when it’s due for submission and how it will be paid. Most of this can be automated, freeing up your time for more important work.

    6) Flexibility and more comfortable: You can streamline your company’s operation and have closer control in running the business. Outsourcing will also lead to the sharing of business risk, this makes it comfortable for one to invest more without having that great fear of failure.

    Outsourcing Jobs Growth
    Outsourcing importance

    Disadvantages of Outsourcing

    Outsourcing doesn’t come without its disadvantages. Outsourcing isn’t right for every situation, and so you’ve got to think long and hard before investing time and energy in farming out work. These are the following cons of outsourcing-

    1) Security risks: In this age of data protection, you must exercise caution whenever using customer data. If you plan to outsource processes that require personal data, you could be placing the privacy of others or the security of your business at risk by passing that data on to other people.

    2) Hidden costs incurred may be high: Though outsourcing is cost-effective to the company itself, some legal costs exist while validating a contract. Much of the time and money may get their way out before legalizing the partnership. Also, outsourcing companies or big agencies will typically ask small business owners to sign lengthy contractual agreements, and they’ll include plenty of fine print. If you don’t read the terms carefully, you could get hit with unexpected costs.

    3) Potential redundancies and communication difficulties: Lack of interest in employees may develop adverse offshoring. The developed reluctance in work may lead to low-quality services and a lack of customer focus transforming to a lower market in the products and services affecting the business negatively.

    4) Losing Control: As you might expect, when you farm works out to external agencies or freelancers, you’re losing control of how those tasks are being monitored and performed. So long as you know and trust who you’ve hired, that shouldn’t be a huge issue – but you’ve got to tread carefully.

    5) Sharing financial burdens: Although it can be nice to bring in expert agencies to share in risks, it can be pretty dangerous to tie your business to the financial well-being of another company. Again, you’ve got to spell out all terms and conditions in contractual arrangements plainly – because you don’t want to take a financial hit if they fail to deliver.

    6) Chance of losing focus: Because many outsourcing agencies or freelancers tend to service multiple clients at any given time, the work you’re sending out may not be receiving the focus it deserves. Depending on the processes you’re outsourcing, that lack of focus could be detrimental to your small business.

    Outsourcing advantages and disadvantages.

      Choosing the right and competent service provider to outsource your products and services is the solution to all these possible drawbacks. If your company has a good taste in outsourcing which is far much pocket-friendly with promising results, you are surely heading for a better experience in your business set-up.

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  • Everything About Setting Up Franchise Business

    A franchise is a business where the owner of the business provides a license to another person for its operations, products, branding, trademark, and processes by allowing the franchisee to sell products or services under the franchiser’s business name in exchange for a franchise fee. A franchisor is a business that grants a license to franchisees. It is a contractual relationship among the franchisor and the franchisee.

    Why Franchising?

    Before starting a franchise business it is necessary to know about the factors of opting for it. Most of the businesses nowadays opt for franchising rather than startups. Here are a few reasons why franchising is becoming popular day by day.

    Tried & Examined Strategies

    The business purchased by the franchisee is that business that has already proven itself in the market and has refined the business tactics and plans. Consequently, they don’t have to face the problems that all new businesses face.

    Brand Recognition

    The franchisee business does not have to build recognition in the market as it gets that from the franchisor that has already established in the market. This provides a vast competitive advantage to the franchise in capturing market share.

    A Proven Business Model

    The business has already proven the model, which enables it to work effectively, and this benefits the franchise as the franchise can work as per the proven model for achieving targets and increasing profitability.

    Marketing

    Buying a franchise business benefits the franchisee as they don’t have to incur such expenses. They can benefit from the marketing campaigns run by the franchisor.

    Financial Backing

    A franchise is a safe business because banks often lend money to franchisees rather than startups.

    Franchise Industry Break-Up(India)

    Types of franchise available in the market are:

    There are numerous franchise business opportunities available in the market, and it is up to you to determine what type of franchise business you want to run. Following are the top franchise businesses:

    Job-Franchise

    It is a low investment franchise that can be operated with the least staffing. Such a franchise only has to pay a franchise fee and minimal operating costs. They generally provide services. Examples-

    • Cleaning services
    • Children’s services
    • Event Planning
    • Travel Agency
    • Plumbing

    Product Franchise

    A distribution franchise is a product-driven franchise where the franchise distributes products and services of the franchisor.Examples-

    • Computers(Dell, Asus)
    • Cars(Ford, GMC)
    • Bicycles
    • Vending Machines

    Business Format Franchise

    It is a franchise where the franchisee operates the business under the parent company’s brand with a proven method to operate.Examples-

    • Fast Food(MacDonald, KFC, Subway)
    • Fitness( Planet fitness, Anytime fitness)
    • Restaurant

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    Investment Franchise

    It is a major investor who provides money and a management team. It comprises hotels and large restaurants.

    Conversion Franchise

    Under the conversion franchise system, the franchisee enters into a relationship with the existing company and converts it into a franchise unit.Examples-

    • Electricians
    • Florists
    • Real-estate brokers
    • Plumbing services
    Contribution of Franchise Business

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    Top Franchise To Invest In

    1. McDonald’s is the top most franchise to invest in. It is related to fast food and its country of origin is United States Of America.

    Franchise Name McDonald’s
    Headquarter Chicago, US
    Sector Fast Food
    Cost of Opening a Franchise $1 million-$2.3 million
    Number of Franchise Company 29,544

    2. KFC(Kentucky Fried Chicken) is an American fast food restaurant chain that specializes in fried chicken.

    Franchise Name KFC
    Headquarter Louisville, Kentucky
    Sector Fast Food
    Cost of Opening a Franchise $1.3 million-$2.5 million
    Number of franchise Company 13,864

    3. Marriott International is an American multinational diversified hospitality company. It is the largest hotel chains in the world by number of available rooms.

    Franchise Name Marriott International
    Headquarter Maryland, Bethesda
    Sector Hotels
    Number of franchise Company 6500

    4. Pizza hut is an American restaurant chain and international franchise known for its Italian American cuisine menu.

    Franchise Name Pizza Hut
    Headquarter Plano, Texas, US
    Sector Fast Food
    Cost of Opening a Franchise $297,000-$2.1 million
    Number of franchise Company 12,956

    5.Dunkin’ Donuts is an American multinational coffee and doughnut company.

    Franchise Name Dunkin’ Donuts
    Headquarter Canton, US, Massachusetts
    Sector Fast Food
    Cost of Opening a Franchise $216,100-$1.5 million
    Number of franchise Company 12,871

    6. Subway also known as Doctor’s Associate Inc., is an American privately held restaurant franchise. Its country of origin is United States of America.

    Franchise Name Subway
    Headquarter Milford, US, Connecticut
    Sector Fast Food
    Cost of Opening a Franchise $116,600-$263,200
    Number of franchise Company 42,227

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    Steps to Start a Franchise Business

    Before starting a franchise business, one should know the procedure for the same. It includes knowing what kind of franchise is available.

    Step 1- Analyze the Pros and Cons of Getting a Franchise

    Choose a Business with a Proven Record History: Commencing a franchise gives an option to select a business model that has sustained itself in the market. For example, MacDonald, Pizza-Hut, etc. have proven themselves in the market.

    Check startup Costs: Startup costs are expensive as capital is needed for purchasing space, procuring inventory, Obtaining licenses, and hiring of trained employees.

    Built-in support structure: Generally, franchisors support franchisees with services like business advice, training, marketing, and advertising.

    Step 2- prefer a franchise that aligns with your business goals.

    Before choosing any franchise franchisor should ask himself the following questions:

    1. What are your strengths & weaknesses as an entrepreneur?
    2. What line of business would you like to own?
    3. What are your business goals, and how would a franchise will help you achieve them?
    4. What is the line of industry you want?

    Step 3-  Form Limited Liability Company or Corporation

    Franchises started as LCC or corporations offering several taxes, legal, and business incentives. The tax benefit is available for LCCs and not for sole proprietors. Numerous franchisors prefer to work with an LLC or corporation. Startups create a legal barrier between business liabilities and personal assets.

    Step 4- Research Market Condition & Franchise Opportunities.

    Understand the local market conditions that are what kind of business will succeed in the area. Some reliable sources of market data are-

    • Government agencies: Census Bureau & Small business administration.
    • Private market researchers.
    • Business centers at colleges or universities.

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    Step 5- Design a business plan.

    Once the franchise is chosen, write a business plan to be organized.

    Step 6-  Obtain Finance

    Some possible sources of capital are as under:

    • Franchisor.
    • Family & Acquaintances.
    • Banks or financial institutions.

    Step 7- Review and sign the franchise agreement.

    A franchise agreement is a contract between franchisee and franchisor. Understand the terms of the agreement, rights, and obligations supporting the agreement.

    Step 8- Business Compliance Requirements.

    State and local governments require businesses to acquire several licenses and permits before starting the business. These involve business licenses, tax registrations, permits, and occupational licenses. Without these licenses and permits, the franchisor may terminate the franchise.

    Step 9- Build and enhance business factors.

    The franchisor will provide blueprints, custom fixtures, and signage, but the franchisee needs to do the rest of the work. Before starting the franchise, the franchisor will provide training to franchisees and employees.

    Step 10- Open the Franchise

    After completing all the procedures and fulfilling all the requirements, the franchisee can smoothly run the business.

  • CashKaro Competitors: Top Players In The Cashback Market

    CashKaro is a one stop destination for savings on all online shopping, enabling members to compare prices on different websites, earn extra cashback and get free coupons across 1000 plus ecommerce sites like Amazon, Flipkart, Snapdeal, Paytm, Myntra, etc. With over 2 million registered users, Cashkaro is India’s largest cashback and coupons site backed up honorable Mr Ratan Tata and Kalaari Capital.

    CashKaro offers a casual but fast paced environment where creativity and effective teamwork are rewarded. Founded by Swati and Rohan Bhargava in April 2013, the company helps new brands to be promoted to relevant engaged audience who are online shopping savvy and helps them put on the radar amongst online shoppers. It is free to be listed on CashKaro.

    When you visit CashKaro, you can visit the website of your choice, and shop normally for which the cashback will be auto applied on checkout. The retailer pays us commission for every sale, and we give you Cashback from this. Featured on over 50 news sites in India and UK. India’s fastest growing Cashback site. It is among Asia’s top 25 start-ups to watch out for, as featured in Tech in Asia.

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    CashKaro App

    CashKaro App is the easiest use of smartphone users and is available on both playstore and iOS for android and apple users. The app has more than 1 million users that have downloaded the app on their android devices. For using CashKaro App you must need to download it from playstore or Apple Store. Then install to you phone.

    • Now open the app and register if you’re a new user else you sign in with your details.
    • You can register through your Facebook Id or Email Id and Password.
    • After registering or signing in go to home. Then you can see offers and deals. Then choose any offer and buy or recharge to getting your cashback.
    • All cashback of you earn will show in your Earning section. Then you can withdrawal easily through your bank account.

    Some of the CashKaro competitors are:

    The competitors of Cashkaro
    The competitors of Cashkaro

    GoPaisa

    GoPaisa provides the Indian online shoppers with an aggregated offering that helps you find great deals while also saving big bucks. GoPaisa co-founders Aman Jain and Ankita Jain built this platform with smart cashback options, coupon offers, deals and discounts, a great shopping experience for anything, be it holidays or electronics.

    On GoPaisa the online retailers are able to leverage the platform to promote their latest deals, promo codes, coupons and discounts while consumers are able to benefit from great savings while shopping online. They partner with renowned e-retailers like Amazon, Flipkart, Dominoes, Myntra, Jabong, Makemytrip, Pepper fry to bring the best possible deals to its customers.

    After registering on GoPaisa users would earn attractive discounts along with cashback on purchases. Online cashbacks get auto credited to user’s wallets after partner retailer websites confirm the successful completion of purchases. However, use of these discount deals would cancel GoPaisa cashback as only one offer can be availed at a time.

    GoPaisa follows a transparent system that allows redemption of the credited amount, in other words, cashback, immediately upon receiving it across varied platforms. The amount can be used to recharge mobile number or DTH Connection or pay bills for electricity, water and makes payments at partner websites. Furthermore, there is an option of bank account transfer.

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    GrabOn

    The company was founded in 2013 by 5 people and more than 4000 Merchant Partners and counting. GrabOn is a trusted brand and an affiliate e-commerce scene in India. They are known for maintaining high quality standards through our unique user interface and user experience.

    How to avail offers on cashback sites
    How to avail offers on cashback sites

    On GrabOn you can get the most authentic and updated coupons and deals making the company a top player in the coupons and deals industry. The CNBZ Awaaz called the company as the Internet Heroes thus recognizing them as one of the most successful E-commerce affiliated startups. They have a strategic B2B partnerships with a strong network in the IT sector which has benefitted not only GrabOn but also its affiliates.

    It has been able to save the amount of Rs. 4,389,334,560 for its customers. Through the companies business partnership programs, it helps a company increase its revenue, create brand awareness and expand its reach. Our network includes a wide range of merchants and strategic companies and our aim is to cross-promote each other in providing the best deals to the end-consumer.

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    IndianCashback

    The motivation of IndianCashback is to promote the ecommerce branch on internet and to make it familiar to the common people because they believe that the cashback service which will be more useful for a deep reach. IndianCashback works with most giants of e-commerce marketing as it promotes their products and the customers also get Cashbacking.

    Since IndianCashback works as promoters of merchants, they get commission for the business done through us, and then transfer the big percentage back to you, that means more savings for you at each buy. Because of this reason, you are getting your cashback savings over merchant given offers. Indiancashback transfers your cashback as money, directly to your bank account.

    The process of most cashback companies
    The process of most cashback companies

    IndianCashback has a team consisting marketing experts, programmers, skilled designers, market analysts coordinated under experienced management team. IndianCashback is the India no 1 Cashback and coupons website where can save a lot on your online shopping.  All the customers have to do is join IndianCashback for free, go to a retailers via us and shop at 600 plus online partner shops.

    The cashback is added within 7 hours as it remains Pending status until the retailer pays. As soon as the company gets the commission from retailers we change the status of your Cashback, Pending to Confirmed state which usually takes 4-10 weeks. When you have Rs.200 or more as confirmed cashback in your account, you can request payment at Request Payment page and we transfer the money to your bank account for free via NEFT or CHEQUE.​

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    Pennyful

    The company was founded in 2011 and is the pioneer in the Indian Cashback and discount coupons market and has been recognized as a leading innovation in online shopping space in the Indian market. The goal of Pennyful is simple, which is to create a unique shopping experience for their customers where they can earn back some of the money they spend.

    The company pays its customers to shop. The key distinguishing factor at Pennyful.in is that it offers real cash back to shoppers who shop at any of its affiliations. On the online partner stores through its site while helping them discover amazing offers and products. Supported by an excellent customer support team, Pennyful.in gives its users various options of buying flight tickets, electronics, apparels and accessories, books, gifting ideas, shoes etc.

    The company boasts of partnerships with over 500+ merchants including names like Flipkart, Snapdeal, Amazon, Alibaba and Paytm among others. All consumers need to do is start their shopping at Pennyful.in to earn real cash rewards and discounts. On 17 January 2015, Pennyful also launched its price comparison and product discovery tool for Amazon, Snapdeal and Flipkart, making it the first Indian cashback website to deliver such a service.