Engineering Services and SEZ Benefits in India

New regulations and laws pertaining to Special Economic Zones (SEZ) in India having been taking place for quite some time now. The focus is to regenerate SEZ despite its unspectacular start that did not have much scope to experiment, flexible labor laws other prerequisites to reform measures. The key to success here comes from administrative support and political backing.

Special Economic Zones in India – Strengths and Opportunities

Let us have a look at some of the strengths and opportunities of special economic zones in India:-

Strengths

 

* There is a familiarity with Western concepts of business practices

* There is a well established legal redress system

* Offers relatively low labor prices

* Comprises of India’s large English speaking workforce

* Has a huge, evolving large and growing domestic market

Opportunities

 

* To use SEZs in order to catalyze infrastructure development

* Establish realistically a competitive edge for SEZs

* A huge NRI base who have invested less in Indian Greenfield development

* Tapping the benefits of WTO and increase India’s small share of global trade

* To maximize investments in core strength areas such as IT and software products and services

Engineering services company and Indian SEZ’s

There has been numerous engineering services company that has contributed to the growth of special economic zones in India. To mention one would be the Precision Engineering and Manufacturing SEZ unit in Belgaum. This acts as a foundation for foundry operations for various industrial and automotive facilities. More than 100 foundries are present here along with 150 machine shops. Simultaneously, there is the availability to skilled labor at a competitive price range and adds to its credibility. This particular engineering SEZ provides an organic, sustainable and environment friendly industrial development. Selected SEZ benefits and incentives are:-

 

* There is international standard landscaping with approximately 15,000 trees

* There is bicycles for intra-zone mobility

* A proper landscape with a huge amphitheatre visible and available from total campus

* Has rain water harvesting

* Provides a water treatment plant

* Provides a sewage treatment plant

* An existing small stream is being converted to a natural water body

Therefore, with the above mentioned facts in mind one can say that the major SEZ benefit lies in economic growth and industrial promotion through sustainable development. In addition to that, the initial policy states that Indian SEZ units will be allotted tax rebates, fiscal incentives and lands and subsidized rates. Today various works are being carried on in line with these policies and clauses.

Read Also On: Engineering Services Consulting

Planning For Employee Benefits Schemes

Every employer has some responsibilities towards their working staff concerning the provision of employee benefit schemes and programs. Essentially, every employer is likely to offer a pension in which an employee can contribute. The nature and type of employee benefit schemes that you are going to provide to your employees depends largely on the kind of job you do and your company’s present circumstances.

In today’s world, it is noticed that majority of entrepreneurs and employers offer employee benefit schemes in addition to their statutory responsibilities. More than kindness this gesture is to ensure employee satisfaction that is going to be beneficial for the company’s overall returns.

Planning for Employee Benefits Schemes

Before you get started it is essential to have clear idea as to why you are providing employee benefits scheme. One of the most common reasons why most enterprises develop these schemes is because they want to retain their staff in this ever-changing market scenario where the attrition rate can anytime increase. Simultaneously, some employers even wish that their benefit schemes also translate into recruitment success making them hire quality work force. This is of paramount importance if you have been losing your employees in the recent past.

These factors are quantifiable and hence simple to evaluate. As an employer it is essential to have specific targets defined before planning a scheme. These schemes need to be time-bonded as then you will know whether the targets have been met by a specific date or not. This is where an efficient employee benefit consultants comes into action to advise you in planning and executing  apt benefit schemes.

Industry Solutions for Employee Benefit schemes

Today eminent companies specializing in global HR solutions have come up with these benefits schemes and programs to make your job east. These solutions offer you a perfect blend of dedicated team service and advanced technology where all your requirements are met in time in a cost-efficient and manageable manner. Services offered includes the following:-

 

* Benefits Consulting and Procurement

* Healthcare Cost Management

* Eligibility Management

* Legislative Compliance

* Executive Benefit Consulting

* Online Employee Center

* Employee Service Desk

* Employee benefits consultants

These companies function as employee benefits consultants and deploy methodologies that can be best described as “strategic simplicity." They form a single point of contact for every benefits management requirement that you might have. Furthermore, they provide efficient transactions, easily accessible information and client satisfaction at every level.

Every employee works for a certain benefits and facilities. With unique service offering from the modern day employee benefit consultants you can not only retain your employees but also motivate them to perform better.

Read Also On: HIPAA Security Compliance

New Age Storage Servers for Global Business Enterprises

The globalized business environment with its widespread offices and a workforce caters for a wider customer base. Further, to withstand the challenges of the competitive world, the large corporate houses and business establishments also tend to take help from outsourced service providers or offshore development teams. Under such circumstances, sharing of information and data becomes quite a necessity.

A storage server facilitates the action to share data and information within distinctly located team members through the corporate network. The users connected or with access to the corporate or private networks can store files or relevant data in the servers and allow further access to people in the network. Technological advancement have made storage servers affordable even for the small and medium enterprises and home users and cam store any type of files, documents and pictures. Whatever by the file type, these need to be uploaded on to a server trough a CD or flash drive and once connected to the network, is accessible to users with network access.

However, today’s technological environment has provided storage solutions such as high performance computing clusters which are not only energy efficient but also high on reliability and performance. These storage servers with their innovative design and new age methodologies facilitates optimal configuration of the operating system and software as per organizational requirements.

The data center solution providers and various   enterprises demand for high-end storage solutions. Thus the leading providers of storage solutions  have worked out The demand for high end storage solutions from have  paved way for the leading providers to work out  custom engineered servers with best computing and storage solutions meeting high standards of quality, reliability and performance.

The storage products with its multi-core high performance technology, energy efficient architecture are best suited for the new age cloud computing environment, clustering and virtualization. The in-built technology helps these storage servers to adapt to the changing circumstances and provides a full spectrum of customized rack mount scalable storage options for a wide range of applications and data backup. Further these also configure redundant systems as multipurpose servers.

When enterprises are global, quality, integration and efficient storage solutions are vital for organizations success. Handling the storage issue becomes all the more necessary in a custom computer development environment. Besides cost-effective storage servers, developers will also need customized rack servers with efficient data backup systems for immediate restoration of operations. Integrated data center solutions facilitate high performance computing clusters and paves way for the ever changing and growing customer demands.

Read Also On: Data Centre Solutions

Why Do We Need Legislative Compliance?

Many companies question the need for compliance policies in their organizations. However, it has been observed that a proactive management of legislative compliance risks is an imperative for good governance for both public as well as commercial sector enterprises.

 

Need for Legislative Compliance

 

Legislative compliance is known as good governance owing to the following reasons:-

·        In case of public sector organizations, if the head authority expects citizens to adhere to the laws then it has to actively manage its own compliance by following similar regulations.

·        In case of commercial entities, shareholder value is pointlessly at a risk when legal issues are not well managed.

·        There are audit committees and board of directors who are no longer content with “exception reporting” of non-compliance. They often demand regular “active reporting” on important compliance obligations.

 

Industry Solutions for Legislative Compliance

 

It can be challenging for companies to keep up with the latest trends and developments in labor laws and human right laws. Leading companies today have realized the impact of global HR solutions on their bottom line.

 

Legislative compliance is one such section of HR, which if averted can cost companies relevant loss and penalties that arises from defaults. Hence, it is imperative that companies ensure that their policies, practices and programs are legislatively compliant. Statutory and in-built mandatory compliance checks at the time of data entry, reporting of non-compliant items as and daily updates on legislative changes helps in the overall compliance. Today leading HR service providers have introduced innovative legislative compliance that includes the following:-

 

·        Health and Benefits

 

Minimizes administrative issues that involve COBRA, ERISA and HIPAA compliance by allowing access to compliance education, human resource consultants, checklists and specialized legal counseling

 

·        Tax Compliance

 

Being compliant with various taxation systems and laws across multiple states and diverse countries appears difficult. Legislative compliance solutions help organizations to fulfill their tax obligations by:-

 

1.       Filing tax returns

2.       Processing checks and through remittance of forms and payments

3.       Health and welfare form 5500 preparation and assistance

 

Benefits of Legislative Compliance

 

Apart from the above mentioned facts, adherence to legislative compliance has other set of advantages too. They are:-

 

·        Active compliance monitoring offers important data that assists the management to locate problems and manage before they become huge concerns.

·        Enhanced customer service through well informed managers and staff.

·        Better stakeholder and customer relations as the entity gets identified as acting as a proper corporate citizen

 

Read Also On : Employee Benefits Consultants

 

 

A Strategic Business Social Network for Inspiring the Team

Social Networking has always existed between your business and the various partners, suppliers, vendors and customers. Close and positive collaborations in your business network have resulted in successful achievements. Collaboration is a word that conveys a strong message and renders phenomenal yields. An internal collaboration amongst the people, processes and technology in business is also critical to ensure favorable returns. This collaboration can be further enhanced by initiating a business social networking environment.

Every project in your business is handled by a team and it is natural that they will encounter many challenges in the process. Resolving the issues quickly are a priority so that your projects are not stalled leading to poor results. Thus it is a necessity to ensure that all the members in the team are on the same page and can collectively take the right decisions. Communication amongst the members is extremely essential and although emails are fast and quick it is not a practical method as important threads may be lost, misplaced or deleted. You also need to be aware of the status of the project to make an estimate that the projects will be completed within the set deadlines.

This is where the  social business software  provides you with unlimited opportunities to make some landmark achievements. Microblogs related to ongoing projects can be created and individuals can post comments and suggestions on how to resolve the issues. Any latest updates are immediately relayed to all involved in the project either through emails or SMS alerts on any laptop or Smartphone. This real-time information helps you to find breakthroughs easily and quickly without wasting any time. The discussions can be viewed by all including the new members for reference and thus there is no requirement for wasting time on trainings.

You can even attach documents, links, audio and video files related to specific projects. The software provides you access to documents to check on the documents that have been downloaded and by whom. Multiple versions of the same conversation are eliminated and everybody is provided a single conversation. You can choose to communicate in private or public with your team members by leaving them notes either ways. The  business social networking  software is equipped with a robust and secure infrastructure that provides a private social network for access to only authorized teams.

It also provides each group a library for storing documents and easy modules for allocating tasks to team members and monitoring their performances. All the information is effectively preserved for the team’s benefit. The software also provides individuals to highlight their achievements and capabilities by creating personal profiles. This helps HR in judging the competency of each individual and selecting them appropriately for assignments. The social business software promotes  online team collaboration and you will soon notice the positive transformations and healthy returns in your business.

Innovative Electrical Contractor Products

Technological advancements today have become the order of the day. Therefore, the constant innovation in computing devices and technology, has given rise to significant changes in the modern day electrical contractor products. These products have an essential part to play in bidding for multiple construction projects.

Industry Solutions for electrical contractor products
Earlier most of us must have come across numerous ads offering products at a lesser price. These ads are very tempting, though the outcome might cost us a lot. However, this is not the situation anymore. Eminent brand names specializing in trade services today are offering innovative solutions in electrical contractor products. A few of them are:-

Submittal Manager
This product acts as a submittal device for electrical contractor and includes a software application with more than 250,000 catalog pages. It consists of more than a million electrical items. This products assists users to save time, lessen monetary expenses and other manual paper works. Simultaneously, it is easy to use and comprises simple search processes that enable users to spot results to what they are searching for quickly. Users can save approximately 75 percent of time taken for submittals. This is synonymous to being able to give more time to enhance other project details.

Supplier Exchange
This product is an innovative offering that helps to speed up total bidding process. This is done by getting an electrical contractor linked to their preferred supplier’s pricing data in real time. Hence, the contractors are able to electronically submit an item list to their supplier from their estimating program. This list is instantly matched with the supplier’s pricing file. In a short time, the list is returned with specific pricing details for the contractor and is ready to be applied with an estimating bid or program.

Electrical Price Guide
When on a job site, you can search for this handy tool for accessing details about the pricing needed for making appropriate invoices and estimates. This guide provides users with elaborate illustrations, a labor unit section and prices beyond 15,000 of the most commonly used electrical contractor materials and tools.

Furthermore the electrical estimating software is an essential electrical product in the form of a material pricing database comprising 2 million electrical items from more than 650 manufacturers. This software has a powerful search engine and drill-down look up methods. It helps in lessening the time taken for researching items. The database is updated regularly and provides detailed product data resulting in improved search features.

Also read on - Product Tours, electrical distributor

Business Social Networking: Gearing Up for the New Age Workforce

The world economy depends on the success of both large and small businesses   around the world and their profit or loss statements. Business enterprises are not stand-alone units but an interrelated network of organizations that are dependent on each other, from setting up production centers to manufacturing, advertising and marketing, a process carried on for generations.  Business networking   is considered a low cost but effective marketing technique. Wikipedia defines it as a socio-economic activity through which groups of like-minded business people recognize, create, or act upon business opportunities.

 

However, with technological innovations, this long-term method of building relationship and gathering contacts has gone online. A business social networking is thus a professional network service implemented with the help of information technology to support business relationships and opportunities at a global level. Today as most business enterprises aim to go global, they make use of technology enabled business social networks to promote themselves online and expand their circle of business contacts.

 

Further, with globalization, businesses have expanded worldwide with a number of offices, mobile workforce and partners spread across geographies. Under such circumstances, business social networking through the corporate networks or the World Wide Web makes it easier for online team collaboration and to achieve business objectives. Just like the facsimile and paper files have been replaced by email and file transfers through corporate network leading to a paperless office, Gartner predicts social networking service to replace e-mail as the primary vehicle for interpersonal communications in nearly 20% business users by 2014.

 

The business social networking movement will help organizations :

  • To identify business areas with obstacles and opportunities.
  • Strategize cross-selling process to improve the sales.
  • Accelerate the process of identifying people with knowledge and expertise as per job requirement.
  • Evaluate the business network with the use of right metrics.

 

Moreover, the need for bridging the gap between disparate teams, has led to organizations opting for social networking  software and tools t . Leading IT service providers have developed business social networking applications befitting today’s dynamic business environment. This social business software with its varied features facilitates employees’ a  cross-platform access to documents and discussions and develop rich profiles with the help of group-based structure that allows for easy and seamless group collaboration. The search engine and smart tags of this software facilitates easy information retrieval irrespective of the time, location and device.

 

The business social networking software developed by the leaders of the industry not only helps employees to microblog and be update with their peer groups, team members and colleagues but also paves way for organizations to understand coalitions and activity centre within the organization, understand the team members, their strength and weaknesses and individual career aspirations.  Such information will help organizations designate future leaders and key personnel.

 

Powerful Collaborative Performances with the Business Social Network

The popularity of social networking sites have provided enterprises many opportunities to expand and transform their business and delve in extremely profitable commercial relations. The fundamental reason for the popularity of social networking is the way it has changed the way we connect, share and collaborate. It is being extensively used in organizations today to engage with customers, employees and whoever that matters to the business.

With the increasing popularity of enterprise social software, enterprises have been able to unlock and release information and knowledge across teams, groups, departments, functional organizations, business units, and even across company boundaries.

With collaboration and coordination being the key elements to a hassle-free and efficient business operation, enterprises need to have a competent social networking tool to collaborate the processes, people and technology effectively. Although emails are fast means of communicating it is laden with irregularities leading to loss of messages which can alter the course of your projects. Large investments are at stake and if your distributed teams are not on the same page the end results can be disastrous.

The social business software acts as a catalyst in enhancing online team collaboration in your business. Using social networking platform employees can brainstorm ideas, discuss projects, post news, share info and stay connected. It also helps enterprises harness employee potential to boost productivity, improve employee satisfaction, and increase business performance across your organization. The chat blogs and discussion forums help the team members to be aware of the ongoing progress of the projects and helps new team members to get a complete idea about the project without undergoing any training programs or being supervised by a senior team member. The software provides a platform for prompt sharing of information amongst all team members irrespective of their location through an intense security process.

Recent updates are immediately relayed to the team members either through emails or SMS alerts on any Smartphone. The group collaboration software provides the facility of customizing the email alerts that you want to receive so that you are in constant touch with your teams without being logged onto the platform.  This software provides powerful search capabilities that help in easy and quick searches and provides the controls to efficiently manage your teams and create workflows for assigning responsibilities. The software allows documents, events, links, audio and video files relevant to the projects be attached. It notifies the teams regarding pending assignments and ensures that the projects are completed within the timeline.

The social business software boosts your business endeavors as it helps you to recognize the individual talents in your organization. It helps individuals to create personal profiles and gives you an opportunity to identify the most proficient and capable employees whose value-added contributions can help elevate the status of your business. The software bestows unlimited opportunities on you by simply raising the collaboration quotient. Social Enterprise - The Time is Now!

Improved Supply Chain Solutions with the Cloud Solution

Every day you have to fight battles to keep your business up and running. Delivering superb performances without any delays or escalating the costs have become the normal criteria to run a business in fiercely competitive and volatile conditions. Any negligence or error can cost you dearly and jeopardize the prospects your business. When you implement actions you have to be sure that they do not render any negative effects. You have to prepare your business to accept the changes in demands and accommodate them without creating any conflicts or disturbances in the environment. Meeting these requirements is an overwhelming challenge that can drain your investments and efforts if you do not have the appropriate tools.

Customer satisfaction is primary which has potentials to leverage your business. Thus you need the powerful cloud solutions that spruce your supply chain process and help to deliver exemplary order fulfillment services. The supply chain solution is very easy to deploy and manage. It ensures prompt responses on a secure network providing you with enriching experiences. The solution provides 24x7 online support for monitoring and tracking the process. The consistent monitoring helps you to detect any hindrances that can affect your efficiencies adversely.

The supply chain solution can be customized to suit the requirements of your business with positive results. It ensures that all compliance requirements are met to ensure a healthy environment and a proficient quality control management process is deployed so that you can deliver optimum products to your customers. Integration is a major challenge and it can be quite taxing to encourage collaboration amongst the applications. The cloud solution provides an extremely affable rack and stack integration platform that deals with the collaboration issues effectively and produces healthy results.

The solution provides smart retail packaging strategies including order acceptance, packaging and shipping of items. It prevents losses incurred due to excessive stocking of outdated products. You can make your choice on whether you want your products to be hand assembled, shrink wrapped or packaged in an eco-friendly way. The solution provides you with increased visibility and improved controls so that you are aware of what is going on and make smart decisions that will bear you constructive results in the future.

You can run a business in various ways. However you need to keep pace with the time and the demands. You need tools that help in process optimization and expedited services giving you an advantage over the others while restricting your costs from going overboard. The cloud solution is an ideal model that provides you with reliable and practical options to run your business. 

Learn more about : reverse logistic 

Practices to Deal with Vendor’s Risks Effectively

Working with vendors and business associates such as attorneys, law firms, IT service providers, transcription and billing service providers, claims processors, auditing consultants etc., is an unavoidable risk in business. The vendors and business associates have free access to the confidential and critical information relevant to your business, and  they can cause large scale damages either accidentally or intentionally. It is also a fact that without these business associates and vendors your business will be dysfunctional. Business associates also come under the jurisdiction of HIPAA/HITECH compliance as they have been found to be one of the causes for detrimental security breaches.

It does not matter whether you have a small business or a big company because the offenders do not spare anybody. The small businesses are at the same level of risk as the giant corporations. You cannot afford to risk your business merely on the basis of your vendors’ verbal commitments. If you are a victim of security breach, it is solely your business that will suffer while your vendor will go scot free. When you are aware of the repercussions that can be unleashed due to your negligence or apathy,you need to take proactive steps to make your business secure by employing the automated enterprise compliance management software.

The software provides solutions for an effective and result-oriented vendor compliance management process for document management and deploys an automated monitoring service to keep a watch on the critical data and the process controls. It assesses the risks associated with the vendors based on several assessment tests and practices and ranks them accordingly. It tracks the areas that lack in compliance in the vendor assessment process and addresses them competently. The solution can be easily customized to fulfill all the requirements of your business optimally.

The compliance management solution is simple and cost-effective and facilitates in enforcing a comprehensive security policy in your business. The software possesses capabilities that help your business to integrate and collaborate with all compliance frameworks with real-time HIPAA/HITECH updates. It provides you with commendable support for PCI-DSS compliance fulfillment.  As the services are delivered on the cloud there is no requirement for any hardware or software that helps you save time and cost.

The safety of your business is your primary objective. How can you convince the customers when you are yourself vulnerable? Employing security measures is just not enough. You need tools that can show profound capabilities to tone down the risks and empower your business.

Also read on - vulnerability management, IT security and compliance