Offshore Engineering Services for Cost-Effective Aerospace Solutions
Offshore Engineering Services for Cost-Effective Aerospace Solutions
Offshore Engineering Services for Cost-Effective Aerospace Solutions
Today most people are aware of the term “identity theft”. Unfortunately, identity theft and Phishing have many things in common, especially in this regard that hackers use Phishing as a medium to steal an identity. With the help of this a criminal can seamlessly create emails that seem to appear from legitimate sources such as insurance companies, banks and so on. Unsuspecting individuals will end up clicking on a web link in the email that takes them to a fraudulent website where they share their name, password and other private details such as bank account or credit card details. They are unaware of the fact that this personal data shared by them is going straight into the hands of a criminal gang. Phishing attacks are an outcome of social engineering and is an acute concern facing the computing and IT landscape today. Not only these attacks trick people and rob them of their valuable personal data but they also lead to other forms of computing hazards and often damage the computing device. Recently, the rate of enterprise spear Phishing has increased and they are so sophisticated in operation that it is difficult to gauge and discern. The data stolen in this process can vary from private data, such as customer,credit, health or any other personal information, corporate information, such as sales forecasts, business plans and other confidential inputs. These attacks generally lead to a negative impact on the company’s brand image other than data and monetary losses. In addition to that, sometimes the data thefts can be so critical that it is beyond retrieval and consumers fail to trust the company that in turn lessens the shareholder value. Surveys reveal that the increasing amount of incidents related to security breaches that there need to be an efficient way to control or eradicate them. Today companies provide innovative solutions as a protection tool against Phishing so that enterprises can secure their crucial assets and stop being a victim of these attacks. The modern day anti-Phishing software helps employees and other end users to recognize a Phishing attack. It creates a simulated Phishing attack and tracks an individual's response to the attack. Furthermore, the software also helps in making the most of the teaching aspect that is set up depending on the response of the user and comes up with a plan of action that can be implemented to avoid any future dangers. Read More About: anti phishing software, phishing protection, protection from phishing
With online frauds on the rise, most companies are struggling with key areas of risk, such as counterfeiting, sales channels management, and channel pricing violations. While the internet and its latest advancements have benefited brand development in multiple ways, it has on the other hand, given rise to a series of threats that includes brand and product duplication, counterfeiting, gray market sales etc. These counterfeiters have no morals and they don’t really care what goes into the product that they’re making and infringing upon. The products they sell are by and large illicit and made of inferior products. They also pose additional problems to the original company as they incur costs to replacing these defective products carrying their brand name.
Plenty of companies worldwide reportedly have fallen victim to fraud. With counterfeiters having access to millions of potential victims online, counterfeiting is set to increase almost multi-fold as they can now sell a host of fake products through online auction sites. When products are counterfeited or sold on the gray market, there is a huge negative impact on the brand of the company, resulting in brand erosion and huge financial losses. Often such companies lose significant market share because they are unable to find a solution that can protect their brand reputation effectively. Instead of ignoring these activities and accepting them as a cost to business, what is required is a proactive approach to combat the counterfeiters and gray marketers.
Enterprises must be prudent enough to act swiftly against these counterfeits and put in place effective online fraud detection solutions that are built with an easy-to-use graphical dashboard that allows customizable, top level view of offenders and trends. By investing in anti counterfeiting and brand protection solutions that are tailor made to suit their business needs, businesses can enjoy convincing and compelling results. These anti-fraud solutions conduct an analysis of companies, regions and time frames to identify the fraudulent companies. Every activity is scrutinized and the reports can be viewed through various options like quantity, time, product or any other detail.
These solutions offer complete end-to-end brand protection that includes investigation and unique enforcement services to shut down the violators without costly and time consuming trials. With the right anti-fraudsolutions suspects can be easily identified, as each suspect is prioritized according to customer criteria such as discount percentage, number of products, listings and sales volume. Making it easy to identify top anti-fraud targets by engaging investigation and enforcement procedures, businesses can enjoy a faster and better ROI.
Read More About: Anti-Counterfeiting, brand management
Integrated engineering services are all about catering to the demand for the engineers who can deal with a huge selection of issues that often requires a know-how on various domains. Recently, the demand for this has gone up owing to the present state of the industry, where both the products manufactured and the plant that manufacture the products are developing at a faster pace with high-end technologies and sophistication.
The Canadian Academy of Engineering is of opinion that the modern day engineering curriculum must focus on design, development and problem resolving aspects of engineering. Integrated engineers also need to have an in-depth idea about the core disciplines such as fluid mechanics, solid mechanics, materials, and systems that need electro-mechanical, chemical and biological components.
Global companies specializing in integrated engineering services with their advanced service portfolio help their clients to minimize production development expenses, lessen lead times, increase engineering resources by offering assistance all through the product life cycle from the design stage through the analysis, automation, prototyping, instrumentation, data documentation and embedded systems development and vendor management. Other services include the following:
Product Design
Here the companies provide ongoing engineering design assistance to the consumers for the present as well as new products. The initiatives include the following:
* Design and redesign
* Cost and weight reduction
* Life enhancement
* Resolution of in-service problems
* Obsolescence management
Product Development
Here the companies offer manufacturing services and engineering product development solutions for the old and new products. The services include the following:
* Engineering Product Development are CNC / CMM Programming
* Manufacturing process planning
* Optimization, Tooling design
* Vendor Management
Safety and Analysis
The safety analysis includes the following aspects:
* Intricate identification, tracking and management
* Detailed analysis of complex equipments, platforms and systems
* Precise risk assessment
* Installation zonal assessment
* Developing and documenting safety concerns
Engineering Services
Under this vertical, the companies offer the following:
* Electronic engineering services
* Software engineering services
* Plant design engineering services
* Sustenance engineering
* After market service
This apart, in the recent times there are engineering outsourcing companies that have also set up a wide selection of integrated engineering product support technical documents for industry, aerospace and oil and gas engineering services. The companies also provide descriptions and monitors services from numerous technical manuals.
Medicines, pharmaceuticals, high-tech and electronic products, auto-parts, personal care and cosmetic goods are a few of the many products that are frequently counterfeited. However, these particular goods have more in common than merely being sold to the end users at discounted prices. The fake versions of these goods pose serious threats to consumer health and safety.
Though counterfeited goods are less costly but they lack the reliability and quality of an original brand, and are generally manufactured and disseminated on an industrial scale by fake third party sellers having a global reach. These products reach the consumers mostly through gray market sales and a series of fraudulent practices. Thus, brand counterfeiting deceives consumers, and results in major economic losses to legitimate business houses and IP rights holders. It further impacts the tax revenues, leads to brand erosion and loss of consumer goodwill. Going by a research conducted by the American Chamber of Commerce, the global trade in pirated and counterfeited good values at least US$500 billion per year and the international counterfeit market accounts for approximately 8 percent of global trade.
Therefore, a customized global anti-counterfeiting program is an effective way to combat this issue. Anti-counterfeiting solutions/ programs therefore must be aimed at minimizing the overall counterfeit percentage along with a long term goal of restoring the market for authentic goods. With the help of such a program that includes proactive enforcement of IP rights, organizations can efficiently bring down the rate of piracy andgray market sales.
Keeping this in mind, companies have introduced innovative anti-counterfeiting solutions that focuses on solving counterfeiting concerns through its high-end search methodology that monitors activities for any number of products round the globe. The search engine operates in such a way that it gathers all relevant details regarding product quantities, pricing and discounts that are offered by the counterfeiters to lure the consumers. The solution allows organizations and consumers to view all the data using user-configurable charts on their dashboards. The solution also offers a company risk index that prioritizes the suspects according to their risk potential and highlights them on the dashboard. This detailed analysis and visibility that companies and business owners attain help them in online fraud detection.
In addition to this, innovative and new age brand anti-counterfeiting solutions provide an ongoing brand protection program that consists of enforcement and investigative services. This assists enterprises to put an end to brand dissolution practices without any costly investments and lengthy trials.
Read More About: enterprise risk management, brand management
The rapid development of trade and commerce along with the advancement of internet technology has brought benefits as well as hazards. On one hand it has given online commerce a boost and on the other hand it has led to increase of product duplication and gray market sales. Over the past few years counterfeiting activities have affected the private rights of intellectual property (IP) right holders, their economic and moral interests and has caused harm to national economies as well. The economic consequences of widespread counterfeiting and product duplicating are many. Manufacturers of affected products have encountered direct loss in their sales revenues. This is often associated with losses in tax revenues and might also result in job losses. Furthermore, there has been market destabilization in zones that are highly affected by counterfeiting and product duplication. Both global and local manufacturers lose their trust in the marketplace when they realize that their IP rights are abused and cannot be enforced effectively. This often leads to a decline in investment. According to a Mansfield study, 1995 a huge percentage of drug, machinery, chemical and electrical device firms affirmed that the weakness or strengths of IP protection in a given region are essential for making direct investment decisions. Recently, there has been an increase in product counterfeiting, which is an organized team activity where an original product is tempered and sold at a discounted price. Various jurisdictions have considered this offense seriously and have introduced anti-counterfeiting laws for the same. Counterfeit detection is not easy. It requires systematic strategies and careful observation. To aid this solution providers’ have come up with anti-counterfeiting solutions that: Apart from actively searching the internet for counterfeits, it applies human intelligence to ensure total data integrity Allows companies to reduce the amount of fake goods in the market by recognizing networks and syndicates of high volume counterfeits. Furthermore advanced anti-counterfeiting solutions focus on resolving concerns of duplicated products by making use of advanced search technologies to monitor all the activities globally. It enables online fraud detection by concentrating on price, discount percentage and quantities for every single product. The solution provides user-configurable charts on dashboards that highlight these percentages and quantities. In addition to this, there is a company risk index that ranks suspects and reveals them on the user dashboard. This index allows each user to quickly identify the companies that are accountable for loosing brand reputation and revenue. Read More About: enterprise risk management, brand management
Ideas are the backdrop of every inventions, product innovation and services. As the products and services takes form and generates expected results, these are transformed into business for the benefit of both consumer and the provider. The increase in product awareness has led to increase in consumer demands for more innovative products, services and techniques which required new and innovative ideas. Organizations the world over look for ideas from various sources. This includes the internal workforce, clients, vendors, partners and end-users. However, the advent of the internet and the World Wide Web has facilitated enterprises with a wider reach to capture ideas from a diversified group. Use of an idea management system facilitates enterprises to manage, monitor and implement innovation in a structured way. Being structured, it provides discipline, clear milestones and metrics as against a qualitative and unstructured process. At Ericsson, a collaborative idea management tool called IdeaBoxes enables all employees to innovate everyday across the organization. Implemented in 2008, this idea management system was pulled based and self-organizing. With many and diverse innovation needs across the organization, a structured approach was required to channelize ideas from multiple sources to multiple destinations in the organization. The launch of IdeaBoxes, led to a broad adoption of ideas across all business units, markets, R&D, sales and marketing dept. Slowly, IdeaBoxes grew to become the de facto idea management tool across Ericsson, replacing most local tools. After three years of implementation, the idea database at Ericsson was filled with 15000 ideas, 30000 comments and over 10000 users. Out of these, hundreds of ideas, from incremental to disruptive ones, have been used in the development of new products, services and new processes at different levels within the organization. The Idea Management System that has been defined as a structured and disciplined approach to manage innovation facilitate enterprises to manage idea generation, capture, collaboration, assessment, implementation and monitoring of idea outcomes. Made up of five components, this includes: A Front-End system that helps to capture and develop ideas A Back-End system that will help to implement the idea funnel An organizational architecture that will facilitate idea generation and capturing process IT systems to support the workflow Metrics for idea pipeline management and determining the business value and monitoring implementation process of the ideas generated. As technology evolved, software solutions were also developed by the IT giants and service providers to support idea management. When Cisco Systems the world leader in networking communications technology was challenged to improve its productivity across its European arm, Matt Ashman, Cisco’s European Innovation Manager, with the help of an idea management system set up i-Zone an idea management portal to capture ideas and feedback from the online community. The result was a collection of more than 400 ideas, 5000 users, with 500 votes and comments. Out of the ideas collected more than 10 ideas had entered the developmental phase and three of the ideas had reached the implementation stage with several in prototype. However, the best out of the lot was the one single technology idea from i-Zone that when launched in the market had a revenue potential of multi-million dollar for the next three years. The Idea management solutions have matured and are today adopted by the mainstream business. Read More About: innovative management solutions
However, it is essential to understand that any breakage in these data centers would prevent people from sending in their queries to Google search, as this huge web portal has more than 800 trillion information pages stored in several data centers globally. However, it has been observed that the modern day data centers take in much lesser power and space than the old conventional ones. The growth depends on the service demands. That means, they are normally born small and count on carbon emissions, energy consumptions and global warming. The sustainability and its influence on the environment is the actual concern, though there are other positive results for the enterprises to reap in based on the principle of “green technology”.
When compared with the old data centers, the new age data centers are equipped with a higher processing power, almost four times more than the old ones. This not just owing to the minimization of the components, but rather because of the end-to-end research for the entire overall efficiency, that comprises of cloud computing and Virtualization.
However, keeping all these concerns in mind it is crucial to invest in effective data center solutions that ensure a seamless working and function of the data centers. Today leading OEM manufacturers, have come up with data center solutions that caters to all the cables, rack assembly and product-level requirements that companies have. These companies are efficient in incorporating software, hardware and other device peripherals for quick to implement solutions. These solution providers work with the client’s engineers on design enhancements, configurations, and optimizations. They also offer racks for industrial applications, web servers, database servers, network that is apt for laboratory, commercial or other workshop platforms.
Advanced data center solution providers with their high performance computing and storage servers feature an open architecture and other industry standard elements that result in future growth and easy upgrades. When this is combined with extensive software and hardware integration then it leads to cost and risk reduction.
Read More About: custom computer systems, data centre solutions, high performance computing cluster, unified storage solution
Today in a globalized business environment, the service provider plays a major role. With every aspect of business, from manufacturing, production, sales and marketing automation to development of software applications, networking and management of data, a service provider makes it easier for the business enterprises in their operational endeavors. A service provider operates to enhance customer satisfaction by fulfilling deliverable with a reasonable service fee charged for the services rendered. However, to achieve this they work on a model that comprises of a system to assess the needs of the customers and provide a service that fulfills a part of the market demand. Through a system of continuous feedback and response, the service provider studies the changing market trends and accordingly works to improve, refine or completely bring out innovative products and services. Innovation is the key to ensuring customer loyalty and this comes from ideas generated. Since the difference between the success and failure in a business environment can depend on a single idea, effective idea management solutions will help to streamline the innovative ideas generated from various sources. The use of idea management software helps enterprises in their effort to streamline the idea management process. A number of Indian IT service providers make use of Web 2.0 platform which includes social networking sites, blogs, wikis and video sharing sites. This platform allows users to interact and collaborate with each other. With the help of these collaborative technologies the enterprises connects to the employees, vendors and the consumers at large. By engaging them in discussion forums they understand market trends, shares knowledge and expertise. Bringing all ends of the system together, helps the enterprise to capture ideas for impeccable service, create innovative products and also receives feedback on the idea. Tata Consultancy services developed Ultimatix, a collaborative platform of wikis, personalized sites and blogs that not only brought the employees together, but also helped them achieve organizational benefits. By generating nearly 50 core ideas to streamline operations and internal collaboration for more than 700 business processes,Ultimatix helped the enterprise integrate all internal processes, including HR, finance, and project management, to support over 100,000 staff. On similar lines, Infosys created Sparsh, its intranet that was ranked among the world’s top 10, to allow its employees to remain connected. Serving as an internal social network, it engages the employees and clients to exchange ideas by email, bulletin boards and discussion forums. Spears has facilitated Infosys in reducing operating costs, increasing operating margins and meeting clients’ needs more efficiently. Adoption of idea management solutions will thus help enterprises collaborate with their customers, vendors and employees on the same platform leading to profitable ventures increase in operating margins, productivity and market share. Read More About: idea management system, innovation products
The offshore account disclosure over the past few years have become a popular buzzword. The moment the U.S government urged the UBS Switzerland to disclose the name of the entities in U.S who had undisclosed accounts, it propelled the IRS to commence the OVDP (Overseas Voluntary Disclosure Program) initiatives. These initiatives in turn propelled a count of approximately 30,000 taxpayers to report their overseas holdings which they otherwise were not disclosed.
These concerned taxpayers of Foreign Bank Account reporting i.e. FBAR could have also saved themselves from tension by reporting their overseas financial holdings earlier as stated by the law. Whenever a financial foreign bank account or foreign asset surpasses, two forms should be filed. They are:
* The Report of Foreign Bank and Financial Accounts
* The Statement of Specified Foreign Financial Assets
FBAR is necessary for a taxpayer who is a domestic entity or belongs to U.S with a financial interest in or a signature authority over an account that records a balance of $10,000 or more at any point of time in a year. There is an informational form that is individually due from other tax filings, the FBAR needs to be received by the government by June 30th of every year to the IRS. The form is named Form TDF 90-22.1. In a situation where an individual has more than one account then the aggregate of the value of the accounts will be considered. However, if taxpayers fail the FBAR reporting then they need to witness harsh penalties. Any kind of unintentional or accidental failure can lead to a penalty of $10,000 per year. In case of intentional aversion to the FBAR filing results in penalties up to $100,000 or 50% of the account balances, whichever is more.
The 2012 FBAR program needs the following from the taxpayers:
* To file 7 years of back tax returns indicating the unreported foreign earnings
* Estimate the interest every year on the unpaid tax
* Applying 20 percent precision related penalty or 25 percent of delinquency penalty
* Applying 27.5 percent penalty on the basis of the highest balance of the foreign account over the last 8 years
Therefore, in case you are involved with in any financial transactions or have overseas financial holdings it is essential that you participate in FBAR reporting with the sound advice of a tax planning agency that will offer perceptive insights and useful suggestions.