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You have likely heard about companies raising substantial money for their new product or service or to expand operations. There is a lot that goes into getting the green light from investors to receive those funds. Investors ask critical questions that are important for the future of the business and the investor’s money.

But, first, what is an angel investor? Well, according to a blog post on CrunchBase.com, an angel investor is “typically a high net worth individual that invests in a new or small business, providing capital in exchange for equity in the company. Additionally, since the JOBS Act, angel investing has expanded and individuals, regardless of their annual income, can participate in equity crowdfunding.”

Before making an investment in a startup, it is important for an investor to consider more than just a return on their investment. More importantly, the investor must consider several factors that will paint a complete picture of the startup.

HERE ARE 11 THINGS ANGEL INVESTORS LOOK FOR BEFORE INVESTING THEIR MONEY.

• Company Overview: What makes the company stand out from others? What are the organization’s value proposition and future plans?

• The Leadership Team: Being introduced to the founders and leadership team of a startup team is critical for an angel investor to understand the expertise and history.

• Competitor Outlook: Investors are fully aware of the competitive threats for any business. Therefore, they are very interested in learning how a business plans to compete and stand out from the rest of the crowd.

• Customer Acquisition: An angel investor should ask a startup about the cost of customer acquisition and if any marketing plans are in play to acquire new customers.

• Product or Service: An investor should ask for a clear-cut view of the product or service being provided along with its distinctive features.

• Intellectual Property: An angel investor will inquire about the existence of trademarks, patents, or copyrights and ensure no violations or third-party rights are in questions.

• Financial Projections: Understanding the current financial climate of a startup is imperative for an angel investor. What metrics have the management team established? How much debt is the company in? Does income correlate appropriately to expenses? What are the organization’s assets?

• Scalability: Understanding plans for growth and scalability are crucial in determining if an investment can yield good returns over time.

• Market Size: Many investors are looking for new opportunities to ensure a business has solid growth potential. So, it is important to know the regional market and its significance to the startup’s product or service.

• Traction: It is important for startups to provide angel investors with good proof of concept and its ability to be effectively sold on the market.

• Business Plan: One of the most effective ways for a startup to present a storyboard format of their business and tie it into the company’s marketing strategies and financial outlook is with a business plan.

Spend your time and resources looking for the right investor for your business. Ask them questions about your concept. Receive and implement their feedback. Then, go for the juggler and ask them for the money.

About Us    

BusinessWorldIT is the most comprehensive online news website dedicated to delivering up-to-date news, trends, and opinions relevant to investments, startups, and developments surrounding innovative technologies. Covered topics include but are not limited to: artificial intelligence (AI), virtual reality (VR), augmented reality, automation, cryptocurrency, blockchain, and the Internet of things (IoT). Whether you are an information officer, developer, computer systems analyst or just someone who is interested in innovative technologies, Business World iT exists to help you stay up-to-date on how the current state of technology is evolving and how innovative technologies will shape the future.

Bython Media Inc.

D.B.A. Business World Innovative Technologies

8668 John Hickman Parkway

Suite 1004

Frisco, TX 75034

Phone: +1 (214) 295-7705

Artificial intelligence (AI) has many applications in the fintech sector that are the driving force for amazing innovation. AI in Fintech is all about capturing the massive amounts of data available and processing it in such a way as to make it much more useful. Improvements are rapidly being achieved for consumer use that offers individually-tailored control over finances.

IMPROVED MARKETING

AI can offer consumers financial products and services based on their needs. The data analysis of Big Data helps create new products and services based on what consumers want. With these powerful AI systems, the marketing of financial products will be more about the response to an identified demand than trying to build up demand through advertising campaigns.

For Fintech businesses, AI increases efficiency and provides valuable business intelligence that can be used to make better executive decisions about what products or services to offer and how best to sell them.

LOWER BARRIERS TO MARKET-ENTRY AND INCREASED COMPETITION

The proliferation of AI used for data mining and the open source nature of some AI programming is helping to make sure the AI is not controlled only by big governments and multi-national enterprises.

This open-source AI allows the algorithms to be used by smaller companies who associate with other companies to leverage their offerings of financial products and services. This helps them compete with much larger companies on an equal playing field.

AI MAKES FINTECH MORE CONVENIENT

Smartphone applications are enhanced by AI in many ways that are already practical. An example is an augmented reality application that works by the user simply capturing the image of the street that they are on. Then, in real-time, the AI software pinpoints the location and places an overlay on the image.

This augmented reality overlay shows where the nearest bank branch or ATM is located. It uses GPS positioning to guide the person to where they want to go and tells them if a bank branch is open near their location.

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IMPROVED USER EXPERIENCES

The user experience drives the success stories of AI applications. Any consumer financial product or service that fails to achieve a top five-star ranking in the user reviews will not prosper. The goals of Fintech companies are using AI in ways that are seamless and fast. The application needs to bring new users into the system quickly and get them up and running automatically.

User interfaces need to be intuitive and so much more than that. They need to anticipate a user’s needs and interests in order to provide fun and easy ways to learn more about financial products and services. The goal is to use AI to create an experience of personalized service that is customized for their needs.

AI-ENHANCED FINTECH APPLICATIONS

The megatrend with AI fintech applications is that the mundane is done automatically behind-the-scenes and it is performed in a 100% error-free way. For example, smartphones are linked directly to a user’s bank account. Their bank balance up-dated in real-time. A simple-to-use interface shows all the transactions as they happen. This means there is no further need to balance a checking account.

Another application, which improves personal finance can generate a budget using AI data mining and the analysis of a person’s spending habits. When using this budgetary control system, if an item is outside the parameters of the allowed budget, the system warns the user to reconsider making the purchase. This is very effective in controlling spending, especially for non-essential items.

For Fintech businesses, AI is already being used for the data mining and analysis of Big Data to improve business intelligence. AI improves predictive analytics that helps executives make better decisions and, in many cases, can make autonomous decisions more efficiently with little need for human supervision. For example, AI improves the performance of Fintech businesses by increasing payment transaction processing speed with more accurate fraud detection

AI ADVISORY AND FINTECH CONCIERGE SYSTEMS

AI now is being used to create very personalized help and give sound financial advice. For example, robotic advisors assist investors who trade stocks, bonds, commodities, and currencies (both legal tender and cryptocurrencies).

Some AI trading systems use algorithms to manage high-volume trading autonomously. Other systems, called “Robo-advisors” simply make trade recommendations that are then used by an investor to help them better manage their financial portfolio

Having a robo-advisor is like having a personal fund manager working on the investor’s portfolio, except there are no commissions to pay. These systems are available as monthly SaaS subscriptions that can be turned on or off easily. They build up their client base by making successful and helpful trading recommendations.

This means that the programmers of these systems are motivated to make them show high-performance financial results in order to attract new clients. There are even cryptocurrency derivatives that use AI, such as the Bitcoin Halo Option, which limit the downside risk of investing in cryptocurrencies.

IMPROVED SECURITY WITH FINTECH BLOCKCHAIN

AI will play a role in the major implementation of blockchain technology. This B2B application of blockchain technology is used between trading partners to produce a permanent record of complex financial transactions, such as those used to finance global trading.

There are many Fintech AI startups working in this area. Major companies like Samsung are committing tens of billions of dollars in investment funds to this effort.

The strongest trend for AI Fintech applications for consumers will be the bundling of financial products and services. AI Fintech offers products and services in ways that are more convenient, personalized, and easy to access.

For businesses in Fintech, AI is already playing a major role in providing and improving these services. AI will also help discover new needs and markets for innovative financial products.

About Us    

BusinessWorldIT is the most comprehensive online news website dedicated to delivering up-to-date news, trends, and opinions relevant to investments, startups, and developments surrounding innovative technologies. Covered topics include but are not limited to: artificial intelligence (AI), virtual reality (VR), augmented reality, automation, cryptocurrency, blockchain, and the Internet of things (IoT). Whether you are an information officer, developer, computer systems analyst or just someone who is interested in innovative technologies, Business World iT exists to help you stay up-to-date on how the current state of technology is evolving and how innovative technologies will shape the future.

Bython Media Inc.

D.B.A. Business World Innovative Technologies

8668 John Hickman Parkway

Suite 1004

Frisco, TX 75034

Phone: +1 (214) 295-7705

Mobile advertising and mobile commerce are closely linked. Mobile apps have been linked to higher sales and increased revenue across industries. In fact, Retail Dive reported mobile sales across all devices – tablets and smartphones – was reported at over 700 billion dollars. It’s never been more important to make sure that your customers know about your mobile presence and can engage with your mobile app for m-commerce.

Research projects that by 2025, over 70% of people will use mobile-only to browse and use the internet, making it crucial to engage with both mobile advertising and mobile commerce.

How can you capture more mobile business with your mobile marketing? Here are the best ways to use mobile advertising to grow your m-commerce presence.

Best Practices of Mobile Advertising to Grow Your M-Commerce Business

1. Know the differences

StartApp makes several suggestions about how to optimize your mobile marketing to drive mobile app downloads and engagement. The first is that, while mobile has a global reach, it’s not treated the same internationally. Each market has certain preferences and limitations when it comes to mobile commerce. StartApp notes, “mobile users in western countries like the US and Europe are more likely to have access to mobile payment systems like Android and Apple Pay, and they are more likely to have ready access to credit and debit cards. In contrast, users in emerging mobile markets like India or Nigeria are less likely to have credit cards and instead prefer alternative methods of payment.” These are important things to consider when you’re both developing and marketing your app.

2. Understand your user

How do your customers operate on mobile? Where do they spend your time? These are questions you need to be able to understand to effectively launch a mobile advertising campaign that will help grow your mobile commerce business or app engagement. StartApp points out, “For example, knowing a customer’s socioeconomic level will help you to target a campaign. In the US and Europe, users with more disposable income tend to use Apple devices, while lower-income users are on Android devices.” Like any other marketing campaign, you want to have a deeper understanding of where your target market spends time and money online – if your app is suitable for younger audiences or geared towards younger generations, for instance, you might find the most mobile advertising success by marketing on gaming apps, dating apps, and of course social media.

3. Create the best product possible

The most important thing to remember about any marketing campaign is that no matter how good your advertising is, it won’t matter if your product quality isn’t up to par. If Apple ran incredible marketing but offered a subpar product, they wouldn’t have nearly the popularity or market share they do. The same can be said about mobile apps. In the modern world, apps are products as much as a phone or a desk or a piece of clothing. Some things to consider when developing a good app experience include the ability for users to save or favorite items, save shipping and payment methods, and other options that can help create a simple, streamlined customer experience every time.

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4. Use your audience to grow your audience

Your customers might be the best way to market your app to additional customers. Incentivizing your customers with coupons, discounts, or promotional codes is one of the best ways to ensure that they’ll spread the word to new people and gain new users Additionally, the better your app is, the more satisfied your customers will be, making it much more likely that you’ll drive app engagement and mobile commerce with word of mouth.

5. Get the right mix

Marketing for mobile needs to happen on mobile as the primary marketing channel. But other forms of advertising can be used to grow your mobile business, including traditional advertising methods like print ads or TV commercials, as well as radio ads and video ads on platforms like YouTube and Facebook.

While a marketing mix is certainly key, SmartApp recommends remembering that, “As mobile continues to grow and become a dominant force in global culture, more retailers are looking for ways to capture mobile audiences. The biggest mistake they make is assuming that mobile behaviors mimic desktop and TV behaviors when it comes to purchasing. It is essential to create mobile marketing and advertising strategy that is mobile-first from beginning to end.”

Mobile advertising is one of the most important ways to connect with customers in the modern business age and mobile commerce is an important part of revenue and relationship building as well as securing customer loyalty. Making sure that your advertising and marketing support your mobile commerce goals is important to your overall business success and can be integral to the future of your organization.

About Us

TechFunnel.com is an ambitious technology media web property dedicated to technology news, product reviews, and analyzing how technology affects business, finance, human resources, marketing, government, and everyday life. At TechFunnel.com, you will read the latest news and learn our opinion about product releases that are right for you. Watch videos about the latest trends in software, apps, games, AI, and virtual reality. Connect with a growing community of writers and editors who ask questions, seek answers, and innovate along the way in the realm of technology. In a medium that is meant to be effective and efficient, we strive to be both.

Bython Media Inc.

D.B.A. TechFunnel.com

8668 John Hickman Parkway

Suite 1004

Frisco, TX 75034

Phone: +1 (214) 295-7705

Retail businesses are one of the most prominent business models, but many retail businesses, particularly small businesses, can struggle to succeed. One of the ways that retail businesses have seen increased market share and greater business success is through the rise of eCommerce and internet sales. Ecommerce has huge benefits for retailers and customers alike.

Since the late 1990s, internet shopping has changed the landscape of consumer experiences and more and more businesses are creating advanced eCommerce experiences to earn and keep more customers business.

The history of eCommerce sales

According to Ecommerce-Land, “ Ecommerce became possible in 1991 when the Internet was opened to commercial use. Since that date, thousands of businesses have taken up residence at web sites…Although the Internet began to advance in popularity among the general public in 1994, it took approximately four years to develop the security protocols (for example, HTTP) and DSL which allowed rapid access and a persistent connection to the Internet. In 2000 a great number of business companies in the United States and Western Europe represented their services in the World Wide Web. At this time the meaning of the word eCommerce was changed. People began to define the term eCommerce as the process of purchasing of available goods and services over the Internet using secure connections and electronic payment services. Although the dot-com collapse in 2000 led to unfortunate results and many of eCommerce companies disappeared, the “brick and mortar” retailers recognized the advantages of electronic commerce and began to add such capabilities to their web sites.”

Many businesses owners owe their success to the rise of eCommerce and internet technology.

The biggest benefits of eCommerce in retail

1. 24/7 access

The internet never closes. Your customers don’t have to be limited by the hours that your retail location is open. Ecommerce in retail allows businesses better flexibility of being able to offer products and services to their customers on the schedule that works best for them.

2. Increased revenue

Your e-commerce presence serves as an additional storefront, giving you increased opportunity for revenue and sales. Online stores also offer your organization the chance to offer web-only products and exclusive deals that customers can’t get in stores. That means that even customers who do visit your physical location will be incentivized to shop online as well, giving you a greater opportunity for sales and revenue growth.

3. Greater brand awareness

The internet landscape can give your brand greater visibility. In some cases, e-commerce only businesses, including Amazon, have grown so substantially that they found it brand-smart to create physical locations to highlight the best of their products and features. The eCommerce experience gives your brand a ton of potential real estate – people are much more likely to find you on an online search or through another eCommerce vendor than randomly driving by your space.

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4. Expanded market

ECommerce in retail gives businesses access to just about the whole global market – even small businesses, like Etsy shops, have the ability to send their products worldwide. Location doesn’t have to limit your business with eCommerce in retail.

5. Personalization

ECommerce sites like Amazon give recommendations to customers based on their previous purchases and search history. This creates a customer experience that’s more personalized to their likes, dislikes, and other habits, making it less generic experience than many people have in stores.

6. Convenience and flexibility

One of the biggest benefits of e-commerce in retail is an experience that centers around the customer. Maybe times, retail locations are limited by their space for fixtures or inventory. An eCommerce experience allows for brands to offer their customers the ability to shop at their leisure, in the comfort of their own home or office. This means that people who are unable to travel, who have varying schedules, or who simply want to more time to peruse their options can take their time and enjoy the convenience of a digital experience. It also offers better flexibility in terms of payment – online retailers, for instance, have the ability to offer payment through PayPal and other finance options.

7. Easily scalable

If you have a physical retail location, you are limited to the confines of that space for as long as your lease term. If you experience a lot of growth, parts of your business may suffer because of these limitations. ECommerce in retail allows businesses to grow without fear of outgrowing a space and it allows businesses to scale as needed.

8. Decreased costs

If you’re online-only retailer, you don’t have to contend with the costs of physical space, staff, and more. While there is still the likely cost of warehousing and shipping product, most businesses find that they save significantly when they use the mode of eCommerce in retail. Brands also find that advertising for their online presence is cheaper than traditional methods that physical retail has used, such as direct mail, billboards, magazine ads, and more.

Ecommerce has long been a driver of business, sales, and revenue. It’s become such a central part to the customer experience that retail businesses that might not otherwise exist, such as niche organizations, can thrive. Start-ups, creators, and other entrepreneurs can more easily start and run a business successfully due to eCommerce.

About Us

TechFunnel.com is an ambitious technology media web property dedicated to technology news, product reviews, and analyzing how technology affects business, finance, human resources, marketing, government, and everyday life. At TechFunnel.com, you will read the latest news and learn our opinion about product releases that are right for you. Watch videos about the latest trends in software, apps, games, AI, and virtual reality. Connect with a growing community of writers and editors who ask questions, seek answers, and innovate along the way in the realm of technology. In a medium that is meant to be effective and efficient, we strive to be both.

Bython Media Inc.

D.B.A. TechFunnel.com

8668 John Hickman Parkway

Suite 1004

Frisco, TX 75034

Phone: +1 (214) 295-7705

1. Travelers can get a 3D tour before touching down

There is nothing like knowing where you are going before you land at a sight. One of the advantages of virtual reality in tourism is that tourists can get a 3D tour of their location before arriving at the destination. Virtual reality differs from mere pictures as the technology allows users to immerse themselves in the experience. Tourists, then, can feel the culture of a city before ever setting foot in town, which means that they will feel less like outsiders when they arrive.

1. Virtual reality can help with planning sights to see

Vacations always seem too short because visitors never get to see everything that they desire during their trip. Part of the reason why key sights go unnoticed by tourists is due to a lack of poor planning. Virtual reality in tourism allows visitors to learn the names and locations of all the significant sights in a town ahead of time. Tourists can also look inside significant locations to determine if they would indeed want a real-time walkthrough of such sights. Visitors, then, get the most out of their sight-seeing experience because of virtual reality because they only entertain the locations that intrigue them the most in real-time.

1. Travelers can use VR technology when there are delays in the travel schedule

There is little worse than having a plane grounded at the airport for an unspecified number of hours. Boredom has a way of creeping in during these times and clouding the vision of the excitement on the other side of the world. Taking a virtual reality tour of the vacation spot when unexpected delays occur is the best way to re-establish excitement for the trip ahead.

1. Virtual reality is great for touring the plane ahead of time

Some travelers feel more comfortable when they have viewed the aircraft and know where all the emergency exits are located. Virtual reality gives tourists the option of a 3D tour of the plane in advance of taking off.

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1. Travel coordinators can create engaging presentations using VR

The future of VR in tourism does not totally absolve actual tours. Travel coordinators should, instead, consider the benefits of virtual reality in tourism when it comes to presentations. Imagine the coordinator who can do more than show potential customers a brochure of potential locations. How many more clients could a planner get if he could take them to the streets of Nice via a virtual tour before having customers pay for a trip that they may or may not enjoy? Virtual reality in tourism removes the mystery from traveling so that customers know that they will have a good time in the destination of their choosing.

1. Travelers can learn more about a specific location before touring the sight

It is one thing to see the ancient ruins of a city and hear about the civilization that occupied the region in the past. It is quite another thing to be immersed in the past culture and understand their way of life and the events that led up to the fall of that civilization. The application of virtual reality in tourism gives visitors the opportunity to interact with locations so that they can walk away with more knowledge about the sight than the tour guide could ever provide with a traditional history lesson.

1. VR is a great way to advertise on social media

The vacation planning company that takes full advantage of social media is one that does more than post pictures of popular locations. Virtual reality can give businesses an edge over the competition by letting coordinators post 3D tours of cities so that customers are more intrigued to contact the company about travel plans.

1. Virtual reality can help the traveler find locations on the map faster

There is little worse than getting lost on vacation and, thereby, losing time. Virtual reality in tourism can help travelers locate simple things like the nearby coffee shop so that what would have taken 30 minutes to find only takes 10 minutes to locate.

1. VR is a good way for travelers to plan how much they need to pack

Hotels are sometimes a gamble in traveling. Tourists are often led to believe that they have more space in a room and, thus, bring too many things along. It is not until arrival that the traveler finds that their hotel room is too small. A virtual tour of the hotel room can help travelers better plan their trip by showing visitors how many closets are in the space as well as the size of the bedrooms.

1. Virtual reality is useful when travelers must choose between destinations

Some families cannot afford to take vacations that include several cities. A virtual reality tour can help travelers choose the best destination as such technology allows individuals to compare sights and sounds.

The future of VR in tourism is still an open book. There are, however, many implications that virtual reality will enhance the traveler’s experience and, thus, lead to more interest in tourism soon.

About Us    

BusinessWorldIT is the most comprehensive online news website dedicated to delivering up-to-date news, trends, and opinions relevant to investments, startups, and developments surrounding innovative technologies. Covered topics include but are not limited to: artificial intelligence (AI), virtual reality (VR), augmented reality, automation, cryptocurrency, blockchain, and the Internet of things (IoT). Whether you are an information officer, developer, computer systems analyst or just someone who is interested in innovative technologies, Business World iT exists to help you stay up-to-date on how the current state of technology is evolving and how innovative technologies will shape the future.

Bython Media Inc.

D.B.A. Business World Innovative Technologies

8668 John Hickman Parkway

Suite 1004

Frisco, TX 75034

Phone: +1 (214) 295-7705

Over the last decade, there has been a surge in mobile apps adoption in the business space as businesses continuously seek efficient solutions to streamline their operations. One of the critical processes in mobile application development is the testing phase.

Manual testing is often time-consuming and repetitive. Besides, you will need to hire people to perform such tests. In line with the dynamic technology, mobile automation testing tools have become quite common among app developers. Not only do such tools speed up the testing process but also provides developers with better and more accurate results compared to manual tests.

There are plenty of automation testing tools on the internet today, each promising to be the best. In this post, we discuss five mobile automation testing tools you can trust.

APPIUM

This is an open-source test automation tool that supports mobile, native, and hybrid apps on iOS and Android. Appium makes use of the WebDriver JSON protocol to regulate the Application Programming Interface (API) across the three app types and the two platforms.

The tool supports such programming languages as C#, Java, Ruby, and all other languages on the Webdriver library. As it is a cross-platform tool, developers can reuse source codes on Android and iOS apps. Test creation on the platform is quite easy as it has such features as playback, record, XPath, device reflection, and objects spy. It can control Chrome and Safari on mobile devices, testing mobile websites through these browsers, which represent a higher percentage of the market is possible.

SELENDROID

This is an open-source tool that allows for mobile automation testing using selenium. The tool can only be used to test native and hybrid Android apps. It supports Android 2.3.3 to Android 4.4. The main selling point in Selendroid is its backward compatibility feature. The tool also features an Inspector tool that helps inspect the UI elements of the app you are testing.

Selendroid also allows you to “hotplug” (plug or unplug) devices without interrupting the tests you are running. This enables the tool to interact with multiple devices simultaneously. These include hardware devices and Android emulators. It also enables you to test already built apps without modifying or changing them. It is compatible with the JSON wire protocol.

RANOREX

This is a test automation tool introduced by Ranorex GmbH in 2007. It is used to test desktop, mobile, and web applications. Ranorex supports a wide scope of environments, including:

• Mobile testing on iOS and Android
• Cross-browser testing on major browsers including Chrome, Safari, Internet Explorer 11, Firefox, and Apple iOS 12
• Windows desktop technologies such as Java, .NET, Telerik, ActiveX, Delphi, and all Microsoft Office apps.
• Windows 7 through 10

This is an ideal automated testing solution for DevOps and continuous delivery environments which require constant testing along with fast feedback on the testing results. It features the playback and record features through which developers can get detailed reports with screenshots. Ranorex’s codeless approach makes it suitable for beginners.

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ROBOTIUM

This is another open-source testing tool designed to perform automated Android UI tests. It has gained popularity among developers and programmers due to its easy user interface which allows you to develop robust test cases for applications under test, tests’ readability, and fast execution.

Robotium can only be used if you have the app’s source code or if you have the APK files. The tool allows you to run tests on real devices or emulators. However, you can only run one Robotium test at a time. This can make scaling tests quite difficult. Another downside of this testing tool is that it does not have the Play and Record functions. The tests developed through Robotium are written in Java.

MONKEY TALK

This is an open-source tool from Gorilla Logic. Monkey Talk automates functional and interactive tests for iOS and Android apps. It is easy to use and can be used on mobile, native, and hybrid apps. Monkey Talk has three major components, that is:

• IDE – the component generates test scripts through the playback and record functions
• Agents – a test instrumentation library which links with the app being tested
• Scripts – this includes syntax, Java execution engines, and keywords

The tool allows developers and programmers to generate HTML and XML reports. It also supports network devices, OS emulators, and tethered devices. Testers do not require to have scripting or programming knowledge.

Mobile automation testing tools offer a perfect solution for software developers looking to produce reliable, robust, and high-quality software. This gives them an edge in an industry that’s currently facing immense competitive pressure. When selecting your iOS or Android automation testing tools do not let the hype or its popularity influence your decision. Rather, perform due diligence on what tool would be perfect for your specific app or software.

About Us    

BusinessWorldIT is the most comprehensive online news website dedicated to delivering up-to-date news, trends, and opinions relevant to investments, startups, and developments surrounding innovative technologies. Covered topics include but are not limited to: artificial intelligence (AI), virtual reality (VR), augmented reality, automation, cryptocurrency, blockchain, and the Internet of things (IoT). Whether you are an information officer, developer, computer systems analyst or just someone who is interested in innovative technologies, Business World iT exists to help you stay up-to-date on how the current state of technology is evolving and how innovative technologies will shape the future.

Bython Media Inc.

D.B.A. Business World Innovative Technologies

8668 John Hickman Parkway

Suite 1004

Frisco, TX 75034

Phone: +1 (214) 295-7705

The focus on workforce productivity has never been greater. Digital disruption, new business models, and escalating costs have compelled organizations to rethink their approach to talent management. Every organization looks to create an environment where employees are empowered to succeed every day. However, ineffective processes, legacy systems, and the lack of executive buy-in keep organizations from creating the intended environment.

Performance management is one such process that is critical to the success of every organization but is often overlooked or executed ineffectively. So, what does performance management really entail? And why does it get such a bad rap?

What is Performance Management?

As the name suggests, performance management is the process of monitoring, managing, and reporting individual and collective employee performance over a period of time. The objective of creating a performance management process is to improve the organization’s performance and productivity in the long run.

Key performance indicators (KPIs), key result areas (KRAs), and management dashboards are typically used as metrics for measuring employee performance. These metrics help leaders understand how well employees, teams, business units, and projects are performing in relation to their strategic goals and objectives. Performance management essentially lets HR teams capture employee performance data, analyze it, identify areas of improvement and optimize the process to improve productivity. Should be easy, right?

Unfortunately, performance management is one of the most unpopular HR tasks across organizations. The lack of transparency, the added time required to fill in evaluation forms, and constant speculation around how managers and HR will grade employee performance has led to the process becoming one of the most dreaded annual events.

Initially, what started out as a way to objectively measure and improve productivity, performance management has since morphed into the exact opposite – a subjective evaluation process that leads to little change. Moreover, performance management is now viewed as a process created to critique employee performance rather than celebrate success.

So, how can HR teams transform this process within their organization to drive real change and achieve broader business objectives?

3 Effective Performance Management Techniques

Current performance management systems are inherently flawed. They are nothing more than annual form-filling exercises. There is a better way. A way where you don’t need to sacrifice employee morale and engagement to drive productivity. Let’s look at five easy performance management techniques that will help your organization succeed:

1. Align Performance Management with Business Objectives

While this may seem like a no-brainer, only 35 percent of the organizations believe their performance management process is aligned to business objectives. KPIs, KRAs, and other productivity metrics must directly relate to identifiable business outcomes. This helps employees understand how their work affects the organization’s success. It increases engagement while encouraging consistency and accountability.

2. Embrace Continuous Performance Management

Annual performance reviews are of little help to both – the employees as well as the employers. By the time you get to the next performance review, you forget to measure the impact of the feedback given last year. Continuous performance management allows managers to coach and provide regular feedback to employees so they can continue to build on their skills and improve productivity. In annual performance reviews, managers have little incentive to provide feedback and follow-through. However, continuous performance management is more than just a process, it must be embedded within the organizational culture. It requires executive buy-in and HR needs to play an active role in executing continuous performance management.

3. Use Performance Management Software

As the nature of work evolves, it becomes increasingly difficult to measure it in the absence of the right technology. Performance management is a rich source of data that can be analyzed to gain insights into employee performance. Moreover, communication is a big part of performance management, and for large teams, it’s virtually impossible to have in-depth one-on-ones regularly. Performance management software enables managers to get a real-time view on the progress each of their team members is making. Dashboards and visualization tools add another layer of actionable intelligence to performance management data.

Finally, remember, performance management is not supposed to be punitive, its objective is to reward success. It should drive employees to bring the best versions of themselves to work every day. Effective performance management techniques are integral to building a culture of high performance and the tips listed above are a great starting point for organizations of all sizes. Employee success relates to business success. And organizations that understand this will emerge victorious in the long run.

About Us

TechFunnel.com is an ambitious technology media web property dedicated to technology news, product reviews, and analyzing how technology affects business, finance, human resources, marketing, government, and everyday life. At TechFunnel.com, you will read the latest news and learn our opinion about product releases that are right for you. Watch videos about the latest trends in software, apps, games, AI, and virtual reality. Connect with a growing community of writers and editors who ask questions, seek answers, and innovate along the way in the realm of technology. In a medium that is meant to be effective and efficient, we strive to be both.

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D.B.A. TechFunnel.com

8668 John Hickman Parkway

Suite 1004

Frisco, TX 75034

Phone: +1 (214) 295-7705

Michael Higgins has international experience in procurement and spend management software solutions. He is the Founder and CEO of PurchaseControl.

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Procurement is a very important part of any business, regardless of the size. The procurement process involves managing suppliers, documents, finances, and more. 

The whole process may sound easy, but it’s not. It’s a complex process and has a lot of potential to create inefficiencies throughout the process.

Technology and automation can help you manage the procurement process and the details involved easily. And technology can help you efficiently store and analyze your data.

Let’s check out six ways to use technology to optimize your procurement process

1. Technology helps you increase the efficiency and effectiveness of your procurement process. You can save a lot of time by automating your procurement processes. You can avoid manual labor and automate many tasks of the process. This will give your procurement team more time to perform and manage more complex tasks. 

2. The procurement process involves more than one department in your company. This means there can be miscommunications. Technology can help you generate comprehensive procurement reports and share them with all departments involved.

This ensures transparency and improves communication. As a result, teams can make more effective and informed procurement decisions, which can benefit the company.

3. With the help of automation and technology, you can speed up your procurement process significantly and decrease average supplier lead time. 

4. Automation of your procurement process can help you get control over the expenses of your company. It increases the visibility of the process to a great extent. This helps you identify any issues and inefficiencies, which gives you enough time to react quickly and fix the issues or take suitable action.

5. The procurement process involves managing and storing a lot of documents. When done manually, it increases the risk of errors, and takes a lot of time and space to store the documents.

However, with the help of technology, you can store your documents digitally. It also ensures the safety and security of these valuable documents. In addition, it’s a cost-effective way to manage your procurement documents.

6. When you are working with multiple vendors, you are required to keep detailed track of everything related to each of the vendors. Details such as payment terms, products, contracts, and contact information are just a few of the things that need to be tracked.

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If you don’t automate your procurement process, it can be challenging to manage such details. So, with an automated procurement process, you can easily streamline this information in no time. 

These are some of the ways you can use technology and automation to optimize your procurement process. Check out this infographic by PurchaseControl to learn more about the role of technology and automation in the procurement process.

About Us

TechFunnel.com is an ambitious technology media web property dedicated to technology news, product reviews, and analyzing how technology affects business, finance, human resources, marketing, government, and everyday life. At TechFunnel.com, you will read the latest news and learn our opinion about product releases that are right for you. Watch videos about the latest trends in software, apps, games, AI, and virtual reality. Connect with a growing community of writers and editors who ask questions, seek answers, and innovate along the way in the realm of technology. In a medium that is meant to be effective and efficient, we strive to be both.

Bython Media Inc.

D.B.A. TechFunnel.com

8668 John Hickman Parkway

Suite 1004

Frisco, TX 75034

Phone: +1 (214) 295-7705

Chatbots improve communications by providing real-time answers to users’ questions. When chatbots do this well, the conversation appears to be very human-like. The very best systems are nearly indistinguishable from having live human operators.

These chatbots work with text-based questions and voice recognition. The newest innovative chatbots work with visual images, which shows the exciting beginnings of a whole new communication methodology, which is at a level of increased artificial intelligence (AI) software complexity.

Interactive Chatbot for Text-Based Responses

Getting started with chatbots does not require learning any software programming. BotStar designed an easy-to-use chatbot platform that works on websites and with Facebook Messenger. Chatbots on Facebook are already popular. The BotStar creation tool is so easy to use that anyone can make a simple chatbot.

More advanced systems for text-based chatbots can be discovered in the guide called How to Build a Chatbot from Scratch.

Voice Chatbot

AI voice-recognition software is used for a voice chatbot. It interprets what is said by a user in their natural voice and then, after finding the appropriate response from the database, answers the question using either a pre-recorded message or text-to-voice conversion software.

Smartly AI is an example of an intelligent voice chat platform that works with websites, Alexa, Facebook Messenger, Google Assistant, and many other systems.

Visual Chatbot

A visual chatbot is something new from software developers working with artificial intelligence. The early iterations are fun to play with; however, the accuracy still is very low.

There is an online Visual Chatbot from Visualdialog.org that anyone can try, which was released in 2017. It works by dragging and dropping an image to upload it and then the visual chatbot will guess what the image is and respond to questions about it. Don’t be surprised if the answers are very wrong.

Rudimentary approaches typically are not accurate. The open-source code for this visual chatbot is available on Github for programmers to use and extend. Over time, advancements in AI programming that is calibrated for the interpretation of images will likely improve the results.

The same general kind of AI programming is used by Google Reverse Image Search to conduct a search based on the upload of a visual image.

Purpose of Chatbot

The idea behind a visual chatbot is to have AI bots that can have a human-like conversation about visual content. The level of complexity with this approach is significant because the AI bots must interpret the visual content correctly to be able to answer questions about the image. An obviously wrong answer makes the AI visual chatbot seem foolish.

Most Intelligent Chatbot

The most intelligent chatbot has not been deployed yet. It will work with text, voice recognition, and visual content. Currently, there is no publicly released chatbot that integrates all those functions in one system. The three fundamental parts exist; however, there is a need for a comprehensive system. Certainly, many AI chatbot developers are vigorously working on this type of project.

As far as text-based chatbots go, the most intelligent one is Mistuku. Mitsuku won the Loebner Prize Turing Testfour times, most recently in 2018. The Turing test is an evaluation of the quality of the human-like responses when conversing with a chatbot system.

Conclusion

All chatbots use machine learning to improve over time. For visual chatbots to improve accuracy, they need to be trained on billions of images. Visual Chatbot from VisualDialog trained on a huge dataset of categorized images called COCO, which continues to evolve.

Opportunities exist in many niche market sectors where visual chatbots can be deployed. Programmers are encouraged to take the code from Visual Chatbot and improve its effectiveness for these new deployments.

An important area of improvement is the adjustment of the algorithms when they make mistakes and correcting any machine learning that accidentally taught the program an incorrect concept, which is carried forward to increase future inaccuracies.

Work with Visual Chatbot by uploading images to test the accuracy of the captions it creates from its interpretation of the images. This is a good way to see where these problems arise. A breakthrough may come from AI programmers who solve this problem because visual recognition has many other applications besides just chatbots.

About Us

TechFunnel.com is an ambitious technology media web property dedicated to technology news, product reviews, and analyzing how technology affects business, finance, human resources, marketing, government, and everyday life. At TechFunnel.com, you will read the latest news and learn our opinion about product releases that are right for you. Watch videos about the latest trends in software, apps, games, AI, and virtual reality. Connect with a growing community of writers and editors who ask questions, seek answers, and innovate along the way in the realm of technology. In a medium that is meant to be effective and efficient, we strive to be both.

Bython Media Inc.

D.B.A. TechFunnel.com

8668 John Hickman Parkway

Suite 1004

Frisco, TX 75034

Phone: +1 (214) 295-7705

AI is reaching critical mass in marketing. It’s moved beyond the initial hype to find practical, real-world applications across virtually every business function. And 2019 is the year of AI in marketing. Why, you ask? Because AI has already made inroads into the consumer technology space, think Alexa, Google Home, or even Netflix; As brands look to leverage customer experience as a competitive driver of growth, AI helps marketers gain actionable insights from data points across the customer journey. A recent survey of 600 executives across 18 countries found that nine out of ten companies use AI-enabled solutions to improve the customer journey. Moreover, enterprise-grade companies with more than 30,000 employees, are 50 percent more likely to have made AI investments to analyze customer interactions.

At a time when customers are increasingly tuning out brand-focused advertising and content, marketers must focus on creating compelling, valuable content that is accessible to customers across platforms, devices, and channels. That is where AI comes into the picture. Marketing has traditionally been qualitative. However, with marketing investments now focused on digital platforms, marketing has also become qualitative. AI brings both aspects of marketing – quantitative and qualitative together, to help marketers understand the quantitative impact of their campaign’s qualitative components. For instance, AI algorithms can suggest what kind of email subject lines will get the most opens or clicks.

AI and Marketing Automation: A Match Made in Data-Driven Heaven?

Over the last two decades, brands have come to rely on marketing automation to streamline, automate, manage, and measure marketing initiatives and workflows. Over half of all B2B companies use some form of marketing automation technology today. So, combining AI with marketing automation only seems like the logical next step in the evolution of marketing automation, right?

We believe so. And the rise in the number of AI-enabled marketing automation solutions available today, go on prove this. The foundation of any efficient AI or machine learning solution is data. And that’s exactly what marketing automation solutions bring to the table. Loads and loads of customer data in a single, unified platform. By deploying AI-enabled marketing automation solutions, marketers can create better customer experiences, drive increased loyalty, and deliver greater value to the business.

Let’s look at some of the key applications of AI in marketing automation.

5 Ways AI in Marketing Automation Can Deliver

Superior Business Performance

AI enabled marketing automation is performance marketing on steroids. With AI, marketers can leverage the wealth of data captured from millions of customer interactions to create relevant, personalized marketing campaigns with speed and precision to drive improved business performance. Here’s how:

1. Marketing Intelligence and Analytics

AI-enabled marketing automation platforms provide a single dashboard for all marketing data, campaigns, KPIs, and reports. This helps seamlessly connect data, report across channels and campaigns, and uncover the right insights in real-time. With AI enabled marketing automation platforms, marketers can make smarter decisions.

2. Smart Recommendations

You must’ve come across smart suggestions on Netflix, Amazon, and your social media profiles. These platforms use machine learning to analyze data and create suggestions aligned to your tastes and preferences. AI-enabled marketing automation platforms can be used to serve customers with personalized communication, relevant content, and product recommendations, based on their previous purchases and behavior. This builds customer engagement and results in higher conversions.

3. Account-Based Marketing

AI in marketing automation unleashes the real power of account-based marketing (ABM) by helping marketers identify the right accounts through intelligent insights, improve engagement with hyper-personalized and targeted messaging, and measure and optimize campaigns.

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About Us

TechFunnel.com is an ambitious technology media web property dedicated to technology news, product reviews, and analyzing how technology affects business, finance, human resources, marketing, government, and everyday life. At TechFunnel.com, you will read the latest news and learn our opinion about product releases that are right for you. Watch videos about the latest trends in software, apps, games, AI, and virtual reality. Connect with a growing community of writers and editors who ask questions, seek answers, and innovate along the way in the realm of technology. In a medium that is meant to be effective and efficient, we strive to be both.

Bython Media Inc.

D.B.A. TechFunnel.com

8668 John Hickman Parkway

Suite 1004

Frisco, TX 75034

Phone: +1 (214) 295-7705

Since 2009, with the introduction of Bitcoin, the cryptocurrency market has captured the interests of technology enthusiasts, investors, and many others. In early 2019, Investopedia noted that there were over 1,600 cryptocurrencies in existence, with the options expanding and changing every day.

The foundational technology of cryptocurrency – blockchain – has found its way into other business applications and cryptocurrency options continue to grow and become more readily available to the general public, so investing in cryptocurrency remains an important financial topic ten years after the first kind of cryptocurrency debuted.

What’s currently at the top of the notable digital currency list? What are some worth investing in, following, or researching further? Here are the types of digital money to take notice of.

Most Popular Digital Currency

#Bitcoin

Bitcoin started it all and remains one of the most valuable forms of cryptocurrency on the market. The Bitcoin website does a good job at describing both its own form of cryptocurrency, as well as the overall concept of cryptocurrency for consumers: “Bitcoin is a consensus network that enables a new payment system and completely digital money. It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen… Nobody owns the Bitcoin network much like no one owns the technology behind email. Bitcoin is controlled by all Bitcoin users around the world.” One major thing to note about Bitcoin is that there will be a limited amount of Bitcoins ever mined by developers, which will affect the overall value of the currency.

#Litecoin

Litecoin was once described as “silver to bitcoin’s gold.” It was created by Charlie Lee, an MIT graduate, and former Google engineer. Similar to Bitcoin, this currency “spinoff” is based on an open-source global payment network that is not controlled by any central authority. Like Bitcoin in many ways, it has a faster block generation rate for faster transaction confirmation.

#Ethereum

Investopedia describes Ethereum as “a decentralized software platform that enables Smart Contracts and Distributed Applications (DApps) to be built and run without any downtime, fraud, control or interference from a third party. The applications on an ethereum are run on its platform-specific cryptographic token, either. Ether is like a vehicle for moving around on the ethereum platform and is sought by mostly developers looking to develop and run applications inside ethereum, or now by investors looking to make purchases of other digital currencies using ether.” Ethereum, it’s safe to say, is growing in usefulness and popularity due to its versatility.

#Ripple

According to the Ripple site, “Ripple connects banks and payment providers via RippleNet to provide one frictionless experience for sending and receiving money globally.” This means that banks can more easily settle cross-border payments in real time for less money and greater transparency. It also sets itself apart from other cryptocurrencies as it doesn’t require mining, so it uses less computing power and remains a popular digital currency looking for ways to revolutionize international payments.

#Bitcoin Cash

Bitcoin Cash is a very interesting alt-currency. The core of a successful peer to peer money networks is that they are centralized – no one person controls it. But in order to operate effectively, or to make any changes to the code, there must be a consensus in the group. When there is a dispute or disagreement, the cryptocurrency code can break off – in this case leaving Bitcoin as Bitcoin and Bitcoin Cash becoming the currency of the dissenters. The issue that created the split was the issue of Bitcoin scalability; Bitcoin Cash increases the block size to enable faster transactions.

#Libra/Globalcoin

Libra/Globalcoin is newsworthy cryptocurrency because it would be the digital currency developed by Facebook. In early 2019, Coindesk reported that the social media giant and technology powerhouse might be creating their own cryptocurrency to add to the services and features of their platform. This was supported by Facebook’s hiring of crypto-economist Christian Catalini, from MIT, as well as other alt-currency and digital currency experts. Establishing its own currency would allow Facebook to offer retailers and individuals the opportunity to spend and send money without the transaction fees currently imposed by payment institutions.

Cryptocurrencies and your business

The last decade has proved that cryptocurrency isn’t a fad or a passing trend. This digital currency list is by no means comprehensive or exhaustive, but it does represent some of the names to at least be familiar with. Understanding what they have to offer businesses is an important first step in gauging relevance and usefulness

Both individuals and business leaders alike have taken interest in cryptocurrencies and endeavor to follow the trends to stay current. Not only do some people have personal investments that could be affected by the cryptocurrency market, but as cryptocurrency grows more stable and blockchain continues to evolve past cryptocurrency usage, businesses have taken note as they may need to accept cryptocurrency as payment in the near future or use crypto-related technology to stay competitive and agile. Even if your business isn’t technology focused, staying up to date on big cryptocurrency developments is a smart move.

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About Us

TechFunnel.com is an ambitious technology media web property dedicated to technology news, product reviews, and analyzing how technology affects business, finance, human resources, marketing, government, and everyday life. At TechFunnel.com, you will read the latest news and learn our opinion about product releases that are right for you. Watch videos about the latest trends in software, apps, games, AI, and virtual reality. Connect with a growing community of writers and editors who ask questions, seek answers, and innovate along the way in the realm of technology. In a medium that is meant to be effective and efficient, we strive to be both.

Bython Media Inc.

D.B.A. TechFunnel.com

8668 John Hickman Parkway

Suite 1004

Frisco, TX 75034

Phone: +1 (214) 295-7705

As a business owner or financial manager, you are required by the Internal Revenue Service to withhold federal payroll taxes, including Social Security and Medicare taxes. Controlling payroll taxes includes withholding, filing, and remitting those taxes, and it is critically important that this is done correctly every time. Failing to handle withholding taxes properly could cause you to face steep penalties and/or fines for your business.

There are some best practices you can follow on how to calculate payroll taxes. Below are some of them:

• Payroll Deductions

There are numerous mandatory payroll deductions that your business needs to make. The Federal Contributions Act (FICA) is clear about what taxes must be withheld. It does not matter if the employee is part or full time, taxes still must be withheld. There is a minimum amount of taxes that need to be withheld from each employee, however, the amount varies for each employee.

• Calculators to Determine Withholdings

You know that you need to withhold taxes from your employee, but do you know how much you are legally required to withhold? Fortunately, there are many resources available to help you. You can manually figure out how much money to withhold and the IRS provides information about the withholding rates on their website. However, if do not feel confident in manual calculations, there are many paycheck tax calculator options available to you. Paycheck manager offers a free paycheck calculator, or eSmart paycheck offers a free online payroll calculator.

• Automation

One way to ensure payroll taxes are calculated properly is to automate the payroll processes for your business. If you are still manually calculating payroll deductions, you should stop right now. You are spending more time calculating your payroll that could be spent on other aspects of your business. You are leaving yourself susceptible to errors. By automating your payroll processing, you can cut costs by over 70 percent, decrease your possibility of error and allows you to focus on other business matters.

• Accounting and Payroll Software

Using an accounting and payroll software is a cost-effective and user-friendly way for your business to track the payroll and tax deductions of your employees. They include a payroll tax calculator to ensure that you are calculating payroll tax deductions properly. There are dozens of software products from which you can choose, you must be sure to find the one specific to the needs of your organization. Once you do, there is no limit to how the software can help you calculate taxes.

• Payroll Service Providers

You can consider hiring someone to handle and streamline all processes that are associated with payroll and tax withholding. A payroll service provider will handle calculating hours, deductions, and ensures all employees are paid timely. They make sure that all payroll is handled accurately and takes the stress off your shoulders. Many businesses find themselves in hot water because of errors made with payroll. A payroll service provider verifies appropriate tax forms are printed, the pay is directly deposited into employee’s bank accounts all while reducing errors and saving money.

There are some easy and affordable ways to protect you and your company when it comes to payroll tax deductions. Handling your payroll tax deductions in the way you always have could leave you open to errors and potential penalties and fines. Following the best practices listed here helps to protect your bottom line and you can start that process today.

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About Us

TechFunnel.com is an ambitious technology media web property dedicated to technology news, product reviews, and analyzing how technology affects business, finance, human resources, marketing, government, and everyday life. At TechFunnel.com, you will read the latest news and learn our opinion about product releases that are right for you. Watch videos about the latest trends in software, apps, games, AI, and virtual reality. Connect with a growing community of writers and editors who ask questions, seek answers, and innovate along the way in the realm of technology. In a medium that is meant to be effective and efficient, we strive to be both.

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D.B.A. TechFunnel.com

8668 John Hickman Parkway

Suite 1004

Frisco, TX 75034

Phone: +1 (214) 295-7705

Being a startup can be an exciting yet challenging phase. Even if you have all your other ducks in a row, you must find a way to market and promote your business while building a brand that consumers can trust. However, most startups lack the funds to dive in head first.

Fortunately, community marketing is something that does not require a lot of funds. Depending on the moves you plan to make with your community, it may not require any funds at all, making it a great time investment for those just starting out.

Benefits of Community Marketing for Business

Read on to understand how community marketing can benefit startups and how to put it to work.

1. Grow Your Tribe

Since it can literally grow your tribe, using community marketing is especially wise for startups. When you are starting with no tribe, finding established communities where your ideal customer hangs out gives you the opportunity to build relationships with those customers from the beginning. When you start out in such a way, it is as though you are building customer loyalty before they even become paying customers.

2. Access and Engagement

In a day and time that is built around convenience, having easy access is a must. Long gone are the days in which consumers would order products from a catalog on the other side of the continent without truly knowing the company it comes from. Consumers want to know who you are, on more than a surface level and expect easy access to you.

Community marketing provides a way to give your customers what they want. It removes communication barriers between consumers and companies resulting in engagement and trust. Even merely being present in forums shows that you are human, and that is something customers want to see.

3. Word-of-Mouth

The fact that 84% of people trust recommendations from friends and family should shine a light on how effective word-of-mouth advertising can be. Consumers will much more quickly trust a fellow consumer than a company.

If you are searching for a product on Amazon, do you not scroll to the bottom to see what “real people” think about it? Most people do. In fact, 90% of consumers check reviews prior to purchase. With startups having a small or non-existent customer base, getting the word out so that your audience can further share is instrumental in your growth.

4. User-Generated Content (UGC)

Consumers love talking about brands and products they love. Sometimes it is because they want everyone their loved ones to use what they consider the best. Sometimes they just want to be the leader in discovering and sharing new items. Either way, every time your consumers create and share something about your brand or product, you benefit. User-generated content, or UGC, contributes to overall SEO rankings and inbound marketing. It also provides additional authentic promotion- a type of promotion that no amount of money can buy.

5. Mutual Benefits

As your consumers begin engaging with you and your brand, you can encourage them to provide any feedback, comments, or suggestions that they might have. This information is invaluable as you can use it to improve current products or create new ones. Additionally, as you ask for and, hopefully, use this information, your community will feel valued, which, in turn, creates deeper customer loyalty. Everyone wins as you get priceless insights and customers feel valued.

How Exactly Do Startups Use Community Marketing?

If community marketing is about engaging current customers, what do you do if you do not have any? How can startups take advantage of it? By answering the following questions and putting those answers to work in the suggested steps, your startup can benefit as much as a long-established business.

• What will you use the community for and why do you want to do this? Will it just be for discussion, for a private membership site, or something else entirely? Knowing what you will provide your customer beforehand helps determine your steps.

• Who do you want in the community- your ideal customer? Where do those people hang out? Are they found on Facebook in parenting community pages? On Pinterest with homeschooling and recipe-sharing groups? On Twitter with fellow entrepreneurs?

• What are their common interests and pain points?

• Join their current communities. Start to build relationships. Offer free products or samples in exchange for reviews or social media shares. Reach out to the influencers in those communities. It is important here, however, not to encroach on someone else’s territory. It is one thing to join and promote a knitting supply company in a knitting lover’s community. It is another thing entirely to do so in a group that already sells knitting products.

• Create your own community that your audience will want to come to. Besides sharing that community in other communities, also use proper keywords so the right people outside of those communities can find you.

Being a startup does not have to prevent you from taking advantage of community marketing. In fact, if you consider that everyone started somewhere, you know that even established communities were not always established.

If you are ready to begin using community marketing for your startup, simply start with the questions and steps directly above. Conduct market research and competitor analysis to determine what works and what does not for your ideal audience. This research will help you formulate your own community marketing ideas. After that, you will easily be able to find current communities and build your own.

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About Us

TechFunnel.com is an ambitious technology media web property dedicated to technology news, product reviews, and analyzing how technology affects business, finance, human resources, marketing, government, and everyday life. At TechFunnel.com, you will read the latest news and learn our opinion about product releases that are right for you. Watch videos about the latest trends in software, apps, games, AI, and virtual reality. Connect with a growing community of writers and editors who ask questions, seek answers, and innovate along the way in the realm of technology. In a medium that is meant to be effective and efficient, we strive to be both.

Bython Media Inc.

D.B.A. TechFunnel.com

8668 John Hickman Parkway

Suite 1004

Frisco, TX 75034

Phone: +1 (214) 295-7705

No matter the size of your business, you need to track your income and expenses because it is important for taxes. If you devise crafty but genuine ways of accounting for your taxes, it will save time and effort during the tax season. Tracking your expenses will also help to lower the tax bill.

Best Online Accounting and Payroll Software for your Business

Most of the online accounting and payroll software aren’t as cheap as you would expect, but you can still take time to learn how it works. Here are the best online accounting software solutions to choose for your business:

1. QuickBooks Online

Quickbooks Online features some of the most powerful online business software features. Neither is it perfect nor pocket-friendly, but it is widely used by entrepreneurs thanks to its tutorials, guides, videos to show you how it operated. It offers several types ranging in cost between $5 for self-employed, and up to $25 per month for the Plus version. You may be charged extra for payroll and payment services.

2. FreshBooks

FreshBooks is an ideal accounting and invoicing tool that automates your time tracking, expenses management, and invoicing procedures. Its cloud-based framework encompasses an intuitive user-friendly interface to cater to sole proprietors, agencies, consultancies, and firms that need to monitor customer invoicing and payment collection.

3. Xero

Business owners seeking an alternative to Quickbooks Online will find Xero even more convenient. Besides managing real-time financial information, it can also help track and manage wages, revenues, expenses, and cash flowing into the business. Through the best free accounting software, you can form a partnership with more than 5,000 banking institutions across the globe.

4. Wave

Do you need a free accounting system software with plenty of features? Do you need one especially if you are operating on a tight budget? Of course. Consider trying Wave because it is one of the best free accounting software in the current market. With a good mix of features, the software is well-suited for service-based businesses that are new in the market or not planning to expand in the future.

5. QuickBooks Premier

Businesses specializing in nonprofit manufacturing and distribution, professional services, contracting and retail need QuickBooks Premier as their solution. This online business software works on-site to allow you to print checks, settle bills, and monitor expenses.

6. FreeAgent

If you are a freelance business owner who is looking for the top payroll software accounting solution with feature-worthy solutions, then FreeAgent will address all your needs. The software can integrate all parts of financial operations. With an array of tools, you will have the opportunity to control all your financial responsibilities and obligations including payrolls, taxes, invoices, and time tracking among others. You can try out its features at no cost to find out whether it is compatible with your business.

7. ZohoBooks

The Zoho family features world-class products that have continued to streamline small businesses compared to other software solutions. This award-winning accounting and payroll software boast great value for money because it automates bank details, sends payment reminders automatically, and makes it easy to send or track retainer invoices. Like FreshBooks, it merges your company’s accounting and sales units.

8. JobPower

JobPower is a fully integrated construction accounting software for general contractors, subcontractors, and home builders in the residential and commercial industries. It contains construction specific requirements such as payrolls, union reports, billings, personalized job reports, accounts receivable and many others. Because it is user-friendly and CPA approved, you can rely on it to fulfill all your basic construction obligations. You can download the app for a free demo.

9. GoDaddy Bookkeeping

As an online seller, you need a reliable free accounting system and bookkeeping solution to manage all your financial tasks and obligations without breaking a sweat. GoDaddy’s features are almost like FreshBooks since it does not include double entry accounting. However, it will still track of time and taxes to ensure the business’s core functions are properly managed. Its integrations with giant online platforms such as Amazon, eBay, and Etsy make it even more convenient.

10. 17Hats

A small business owner should perform more than one task to fulfill various functions. 17Hats is accounting software that has a fully-featured productivity suite to facilitate multitasking for projects such as accounting records, bookkeeping, time tracking, workflows, invoices, and to-do lists among others. You can’t manage all these tasks on your own, so let 17Hats do the work for you.

With dozens of accounting and payroll software products in the market, choosing the most reliable one for your business is not as it easy as it sounds. The top 10 accounting and payroll software solutions mentioned above have been evaluated based on cost, user-friendliness, and their ability to settle bills, invoice to customers, pay employees, and honor online payments from clients.

There are other options you can explore as well, but the accounting software listed here will make your tracking process easier and cheaper. Matching the ideal software options with your area of specialization should be the key solution to your accounting and payroll responsibilities.

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TechFunnel.com is an ambitious technology media web property dedicated to technology news, product reviews, and analyzing how technology affects business, finance, human resources, marketing, government, and everyday life. At TechFunnel.com, you will read the latest news and learn our opinion about product releases that are right for you. Watch videos about the latest trends in software, apps, games, AI, and virtual reality. Connect with a growing community of writers and editors who ask questions, seek answers, and innovate along the way in the realm of technology. In a medium that is meant to be effective and efficient, we strive to be both.

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Did you know that approximately 80% of Fortune 100 companies use IBM Power Systems?   

Yes. It’s true. Companies around the world in a broad range of sectors including retail, insurance, and finance rely on the stability of IBM Power Systems to meet the demands of customers and clients and drive innovation every day.

IBM Power Systems are designed to match your enterprise’s workloads, budget, and IT environment.  These enterprise-class servers are a combination of availability, security, cloud management, scale, and leadership performance. The family of servers, which includes accelerated servers, enterprise servers, hyperconverged servers, and scale-out servers, maintains a position as the most reliable server in the industry. 

It’s likely you have heard of IBM Power Systems, but if you are just getting started in data organization or are deploying the very first AI-based application in your company, there are some things you should know. 

IBM Power Systems are enterprise cloud-ready. They integrate into the hybrid or private cloud setup that your organization may currently have and offer several flexible consumption models. For example, the PowerVM is used for data and mission-critical applications and allows for scale computing and on-demand memory.  

The ITIC Global Server Hardware Reliability Report of 2017-2018 ranked IBM Power Systems #1 for the tenth consecutive year in every major category when it comes to delivering reliable on-premises infrastructure around the clock. From the operating system to the processor, IBM Power Systems are designed with end-to-end security in mind that spans the entire system. 

IBM Power Systems deliver major advantages when it comes to performance and price. They allow you to tackle your most complex computing challenges and are designed to support some of the most data-intensive applications in the industry.   

IBM has traditionally been the go-to computer vendor for reliable and secure solutions. With the suite of POWER9 scalable servers and platforms alongside advanced research in computing architectures and artificial intelligence, IBM will likely remain a major leader in the industry. IBM Power Systems provide a solid foundation for moving or improving your IT infrastructure in the cloud.   

To learn more about the benefits and value of adding POWER9 enterprise servers to your IT infrastructure goals, watch this on-demand webinar. 

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BusinessWorldIT is the most comprehensive online news website dedicated to delivering up-to-date news, trends, and opinions relevant to investments, startups, and developments surrounding innovative technologies. Covered topics include but are not limited to: artificial intelligence (AI), virtual reality (VR), augmented reality, automation, cryptocurrency, blockchain, and the Internet of things (IoT). Whether you are an information officer, developer, computer systems analyst or just someone who is interested in innovative technologies, Business World iT exists to help you stay up-to-date on how the current state of technology is evolving and how innovative technologies will shape the future.

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There are two types of payroll service providers – internal groups who run payroll at companies and accountants who work as contractors for small businesses. The process of running payroll – tabulating hours, PTO, deductions, and then paying employees – is an important part of every business, particularly small businesses. Finances Online note that one in three businesses is punished by the IRS for payroll errors. Using payroll software helps to automate and streamline the process of paying employees by deductions and withholdings, producing tax forms, direct depositing pay into employee bank accounts, and more, all to help businesses reduce errors and save time and money.

If you’re a small business who wants to ensure the accurate and timely paying of employees and contractors or you’re an accountant or finance professional who works as the payroll service provider for several businesses, you should consider using payroll software for payroll service providers.

The top payroll software for payroll service providers

1. QuickBooks Pro

Not only is this solution scalable it can work for you as you add more employees (or if you’re an accountant, as you add more payroll clients), QuickBooks also offers a free trial of their Pro solution. Small business owners love this tool because it can be easily used by anyone, with no advanced accounting and bookkeeping skills required. For those 3^rd party payroll service providers who are managing expanded bookkeeping tasks for business, QuickBooks Pro offers an inventory tracker for retail shops, restaurants, cafes, and merchandisers.

2. OnPay

OnPay enables employers and payroll service providers to run payroll in any state and offers expert assistance and support to ensure error-free processing. It features the ability to enter all payroll data like hours, reimbursements, tips, and bonuses and can help with tasks like benefits and compensation insurance. It allows unlimited payroll runs for W-2 workers and 1099 for contract staff on a monthly basis, making it a good tool for small businesses, growing businesses, and accountants working with all kinds of businesses.

3. ADP Workforce

ADP Workforce is a popular payroll platform that manages HR tasks like payroll, bonuses, commissions, time and attendance, employee health statistics, talent management, and benefits for businesses. It’s great for small business owners and busy accountants who need to handle HR and payroll responsibilities on the go through robust mobile apps.

4. Zenefits

This free solution is a great option for startups and small businesses. It offers a whole range of features, including business intelligence, employee directory, insurance benefits, payroll sync, customer support, hiring and onboarding, ACA compliance, mobile optimization, and many others. With the ability to automate and streamline so many tasks, Zenefits can help you free up time and resources to focus on other parts of our business without sacrificing HR and payroll process quality.

5. Sage Intacct

Sage Intacct is an award-winning accounting solution and one of the most professionally and industry recognized of the payroll software for payroll service providers. They’ve been American Institute of Certified Public Accountants (AICPA) as their top provider of financial-related applications for CPAs and have won awards from CRN Magazine, OnDemand, and more. They’re a great solution for very budget-conscious businesses, as their capabilities can help reduce revenue leaks and enhance cost control. In addition to accounting firms who handle payroll for multiple businesses, they’re a smart choice for businesses in several industries, including nonprofits, hospitality, distribution, healthcare and more.

6. Paychex

Paychex is a favorite among small business owners and accountants who help handle the finance administration of small business owners. It handles basic payroll and taxes such as payroll and taxes as well as tasks like 401 (k) retirement services, insurance, HR, time and attendance, employee benefits, onboarding, and accounting and finance. Because it offers capabilities beyond simple payroll, it gives businesses the opportunity to grow and expand with a scalable HR solution already in place.

7. Paycor

Paycor is an excellent option for small businesses who are experiencing high-growth and need a solution to scale beyond 100 employees. If you’re anticipating having a larger team sooner rather than later, Paycor is a good investment. In addition the standard payroll processing features, Paycor offers HR features such as learning management and workforce insights that you might need as your business grows. Plus, this solution can be customized based on your industry or brand.

Take some time to research the best payroll solution for your business by understanding what features your business needs. Still not convinced a payroll solution software is right for you? Consider this piece of advice from an expert business service provider: “One of my rules is if you have one employee, get a payroll service. The penalties for screwing up are so much more expensive than the cost for payroll.”

Do you have the right HR and payroll tools to support your business? Software for payroll service providers protects your business and is an important part of keeping your finances organized and ensuring your success as a company. Protect your business assets and reputation with payroll software for payroll service providers.

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TechFunnel.com is an ambitious technology media web property dedicated to technology news, product reviews, and analyzing how technology affects business, finance, human resources, marketing, government, and everyday life. At TechFunnel.com, you will read the latest news and learn our opinion about product releases that are right for you. Watch videos about the latest trends in software, apps, games, AI, and virtual reality. Connect with a growing community of writers and editors who ask questions, seek answers, and innovate along the way in the realm of technology. In a medium that is meant to be effective and efficient, we strive to be both.

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D.B.A. TechFunnel.com

8668 John Hickman Parkway

Suite 1004

Frisco, TX 75034

Phone: +1 (214) 295-7705