outsource-ict-service

Facts & Benefits of Outsourcing ICT Services to Offshore Companies

The Importance of Outsourcing Technology Projects to a Professional Company & How it Can Benefit Your Business

Outsourcing technology is the process of getting a third party to complete your IT tasks.

Outsourcing technology is a cost-effective way to get help on your IT tasks, and it can be difficult to find staff with the necessary skills.

The benefits of outsourcing are that you can get help from professionals who have the knowledge and expertise that you need, without having to hire new staff members or invest in training. You’ll also save money by not having to pay for office space for these outsourced professionals and by not having to pay for their travel expenses.

There are a number of reasons why outsourcing IT projects is beneficial to companies:

IT outsourcing services help companies to focus on their core competencies.

A company that outsources its IT projects can focus on what it does best, while the outsourced company manages the day-to-day operations of the IT department.

Outsourcing an IT project also helps a company to save money. This is because an outsourced company will charge less than a full-time employee would, and there are no benefits or other expenses involved with hiring an outside contractor. This means that a company can spend more time and money on its core competency without having to worry about spending too much on technology infrastructure.

So what are the benefits of IT Outsourcing?

 Outsourcing your IT functions is cost-effective

One of the first selling points with regard to  IT  offshore development is that it has proved to be highly cost-effective, especially when looking at companies that offer outsourced information technology services.  The Philippines in particular is renowned for being an outsourcing company hub due to their low minimum wage, but also their advanced English proficiency, work ethic, and Americanised culture, which helps establish easy business relationships. You also only have to pay your offshore staff/individuals for the time they spend on any project, instead of an in-house employee where you require to provide a fixed salary regardless if there’s any major work to be done.

You get access to the latest technology

If you were to have an in-house IT department, you would have to invest in infrastructure and equipment that can take out a generous chunk of the capital expenditure. Furthermore, keeping up to date with the latest gadgets and gizmos is almost impossible these days if you don’t want to break the bank – upgrades after updates happen almost yearly and for the budget of a small to mid-sized company, it’s a highly unlikely reality to even think about. However outsourcing it services to a third-party company you partner with is responsible for these expenses and holds the duty of being up to date for the benefit of their clients. And you can sit back and reap the rewards.

Save time and reduce distractions

As a managing director or executive, you already have a lot on your plate and the last thing you want to do is waste time attempting to cover IT jobs yourself or find an in-house expert to help you out. Outsourcing companies are designed to help you out from the very beginning – all you have to do is tell them exactly what needs to be done and they will scout however many people you need who hold the right qualifications and expertise to join you on the ASAP. By allowing them to handle this time-consuming task, you can focus on your actual job instead and make a difference in areas you’re specialized in.

Minimum liability

This is probably the most underrated on the list of benefits of IT outsourcing. Partnering with a business process outsourcing company means you have no direct liability over the employees at the company you’re hiring from. If you aren’t satisfied with those who are working on your project, you can easily request a replacement who is a better match without any consequences. This is much different from hiring directly within your company, where letting go of someone quickly isn’t so easy if you don’t have a pressing or serious reason.

***

Outsourced Quality Xpertech Solutions ltd. is a leading outsourcing company that offers highly qualified remote staff and solutions that specializes in IT servicesAs one of the leading outsourcing companies in IT xpertech solutions ltd, we assure our clients of exceptional and high-quality offshore work and services. For more information on how to get started with us, contact us today!  

This is how to calculate Personal finance Math; your score might shock you

You might be surprised by your score when you calculate Personal Finance Math

You might be surprised by your score when you calculate Personal Finance Math

 

This is how to calculate Personal finance Math; your score might shock you

This is how to calculate Personal finance Math; your score might shock you

This week we are going to do some maths.

Personal Finance is all about planning for and deploying your cash flow to meet financial goals whilst managing risk. Personal Finance covers your income, expenses, assets, and liabilities. It seeks to answer money questions like, how much liquidity is appropriate for you? How much should you save there?

This week we will highlight some personal finance metrics and how to calculate them. These are calculations that you can do on an excel sheet or a calculator, all that is needed is the raw data. (No algebra)

Savings:

Savings is the start of any financial journey and the hardest of the process. When you earn and do not spend, you have saved. There can be no investment without savings; thus, the goal of salvation is to ensure that as income increases, our savings rate also increases. The target is to save a percentage of income and not a nominal value, so the target is to save, for example, 5% of income rather than a nominal figure. The measurable goal is the Savings Rate, simply a percentage of savings to total income.  if you make N1000 and spend N900, then you have a Savings rate of 10, which is calculated as

(Savings/Total Income) *100; (100/1000)*100= 10%

Unsure of what saving rate to adopt? In practice rule of thumb is to save 10% of your income, but do not do this if your budget will be stretched. Instead, start small and adjust your budget to reduce expenses or earn more and meet your target savings. A higher savings rate is preferred because it equips you, the investor, with a tool (cash) to invest.

A good activity is to keep a detailed spending journal, possibly using an app like Modify; this allows you to track back and see where you can adjust savings to raise your savings rate.

Cash flow:

Cash flow is essentially how much you are earning, subtracted from how much you are spending. In essence, are you living within the means of your income? If you have a high savings rate, your cash flow will be increased; if your saving rate is low or negative, your cash flow is negative. The calculation of cash flow is super easy, All cash inflow less all cash outflow. (Note the emphasis on cash)

Keep in mind debt is income to you; thus, when calculating cash flow, ensure you subtract out the cost of any debt incurred to attain that cash. The target is to have a positive cash flow.

Emergency Fund:

As the name implies, an emergency fund is set up to cover unforeseen events that require finances to resolve a medical emergency. Having emergency funds helps avoid liquidating an investment portfolio to meet this unplanned need.

An emergency fund is recommended for 3-6months of your non-discretionary expenses, meaning expenses you must make like food and rent. The emergency fund is usually cash or near cash assets.

We take liquid assets divided by monthly non-discretionary expenses to calculate an emergency fund. Let’s assume we calculate non-discretionary expenses to be 100,000 every month, and we have accumulated 300,000 in liquid assets. Our emergency fund ratio will be 300,000/100,000 or 3. This means the finances can support three months of emergency spending without another inflow. The key to this equation is a proper and accurate determination of “non-Discretionary” expenses.  An emergency fund ratio is three is preferred.

Net worth:

It is a straightforward calculation; Net worth is your total assets, less your total liabilities.

The real work is scheduling all your assets and segmenting them into income-earning and non-incoming assets. Thus, an apartment you own and rent out will be an income-generating asset, while a gold watch will be a non-income generating asset. Similarly, a car you own bought with a bank loan will be an interest-bearing liability for liabilities. In contrast, a zero-interest loan from your employer will be a non-interest-bearing liability.

Then arrange those categories from most liquid to less liquid. Thus, cash in the bank will come before a corporate bond. Similarly, credit card debt will arrive before the principal repayment of a bond you issued for liabilities; Then net off. On my network sheet, I always compare what I earn from my income-bearing assets to what I am paying on the liability side, just as an anchor.

Debt to Asset Ratio:

Keeping a tab on debt is extremely important. Debt allows the acquisition of assets without the payment of cash. For some assets like a home, the cash cost is very high that it makes sense to leverage up to acquire it. Debt is only advisable to buy assets that generate income or reduce an existing expense. A measure to use for debt is the Debt to Asset Ratio, which is Total Liabilities/Total Assets expressed as a percentage.

If your total liabilities are calculated at 25m whilst your total assets are valued at 30m, the debt ratio will be 25/30 or 83%, meaning 83% of your assets are financed by debt. The objective for debt is to trend down level of debt gradually. So, as you begin to approach retirement years, your interest-bearing debt must be significantly reduced or eliminated.

Debt Coverage Ratio: The debt coverage ratio measures how much your cash income meets debt obligations. For instance, if your earn 100,000 a month and you have two loans; an auto loan of 2500 a month and a mortgage of 2000 a month, then your debt coverage ratio will be

100,000/ 2500+2000

100,000/4500 or 22 times cover.

This means the total income earned can cover the interest-paying obligations twenty-two times. This is good.  A low or negative coverage ratio will indicate that your current cash income cannot cover or repay your existing debt.

Another calculation of debt related to income is the long-term debt to Gross Income. This calculation seeks to determine how much of your gross income can be earmarked toward the repayment of longer-termed debt like a mortgage. Most mortgage companies will score your mortgage application based on a variation of this formula. The frame of this measurement is to assume that only a certain percentage of your gross income can be deployed towards long-term loans.

Let’s assume a mortgage company has a 30% debt to a gross income hurdle rate; it essentially means you can only deploy 30% of your gross income to repay the mortgage. In other words, if 30% of your payment cannot refund for your monthly mortgage obligation, you will not qualify for the loan.

Finally, The 72 rule this s a simple hack to know. If you take the rate of return of any investment and divide it by 72, the answer tells you how long before that investment can double your money.

E.g. If I invest in an apartment building with ten rooms and it costs me N10m to build, I expect to earn an 8% return from the rental property. How long before I double my N10m

Using the 72 rule, I divide 72/8 or 9 years.

Remember, the use case of these calculations is to enable you to measure your progress towards a goal. If applied early and adequately, these rations can help you adjust your spending or investment behavior. If you want to buy a home, you know that you have to reduce your other long-term loans to create sufficient space to keep your mortgage payments under the lenders’ recommended hurdle rate.

CREDIT:|| Nairametrics

Hiring for certain roles is slow as GitHub prioritizes 'strategic hires'

Hiring for certain roles is slow as GitHub prioritizes ‘strategic hires’

Hiring for certain roles is slow as GitHub prioritizes ‘strategic hires’

Hiring for certain roles is slow as GitHub prioritizes 'strategic hires'

Hiring for certain roles is slow as GitHub prioritizes ‘strategic hires’

GitHub appears to have pulled back on hiring across certain parts of the organization, becoming the latest tech giant to refactor its recruitment strategy in anticipation of an economic downturn. According to reports on Twitter and several candidates TechCrunch spoke with, GitHub has in recent days closed roles that were previously open, canceling interviews and putting applications on hold.

All the candidates received the same email, which cites “an effort to prioritize [GitHub’s] hiring and be strategic about the roles [it continues] to hire for.” There’s no obvious pattern to the outreach. Developers applying for manager- and director-level roles at the Microsoft-owned company in a range of departments and locations, including San Francisco and London, have been impacted.

In a statement provided to TechCrunch, GitHub said that hiring “continues to be a priority” but that it’s prioritizing “strategic hires” that will “increase long-term business impact.”

“We are monitoring the broader economic climate,” a GitHub spokesperson said via email. “We are actively hiring for the positions listed on our careers page and will continue to update that page as our hiring needs evolve.”

The reduction in roles could be related to a broader, expanded hiring slowdown at Microsoft announced this week, first reported by Bloomberg. Microsoft said in an internal email that it would eliminate many open jobs, including in its Azure cloud business and security software unit, while making some exceptions for “critical” positions.

Earlier in the month, Microsoft cut around 1% of its 180,000-person workforce as part of what it called a strategic “realignment.”

Layoffs within the tech sector have accelerated over the past few months as fears of inflation, the war in Ukraine and the lingering pandemic mount. Startups have had to bear the brunt of the impact. But as the unfavorable conditions persist, there’s been a knock-on effect up the corporate totem pole.

The five biggest technology giants in the U.S. — Apple, Microsoft, Meta, Amazon and Microsoft — have collectively lost more than $2 trillion of stock market value this year. As CNBC noted Tuesday, the tech-heavy Nasdaq 100 index closed trading early this week down more than 26% year-to-date, while the Dow Jones U.S. tech sector shed more than 26%.

Oracle is said to be considering a $1 billion cost-cutting initiative that would include thousands of layoffs. Just yesterday, Google said that it would pause all hiring for two weeks after announcing it would slow down its hiring process for the remainder of the year. Meta has reportedly halted hiring across teams and directed managers to “move to exit” any poor performers. And Apple is planning to tap the breaks on hiring and spending at some divisions next year, according to Bloomberg.

Elsewhere, Twitter let go a third of its recruiting team. Tesla has been laying off hundreds of employees over the past month. And Nvidia, Lyft, Snap, Uber, Spotify, Intel and Salesforce have slowed hiring this spring into summer.

Source:| Techcrunch / Github

PERSONAL CRM SYSTEMS - 7 BENEFITS FOR BUSINESSES - 2022

PERSONAL CRM SYSTEMS – 7 BENEFITS FOR BUSINESSES – 2022

7 BENEFITS OF USING PERSONAL CRM SYSTEMS FOR YOUR BUSINESS – 2022

PERSONAL CRM SYSTEMS - 7 BENEFITS FOR BUSINESSES - 2022

PERSONAL CRM SYSTEMS – 7 BENEFITS FOR BUSINESSES – 2022

During a pandemic crisis and economic downturn that has already started and will most probably continue to go even deeper, a question that bugs many managers is how to make the best use of their current resources. One of the answers is by using a system that manages relationships with both existing customers and potential customers, such as CRM (Customer Relationship Management). Whether it is a product or a service, every company should have a clear strategy on how to approach the (potential) client and how to achieve the desired results.

Before you decide to introduce CRM, it’s a good idea to first look at and valorize your current customer access and communication inside and outside the company. Maybe even to consult with an experienced CRM consultant and decide how the system would provide measurable increased business results. Then when you choose to introduce this system into your business, there are various CRM tools or better said CRM business systems on the market, which should support your strategy concerning customers. What are the key points of this system that will be of benefit to you, is best described personal CRM at EngageBay. We will, however, list some of the benefits in the further text.

1. All sectors will use it

Source: webbizinfo.com

CRM can benefit anyone within the company, including sales, marketing, finance, planning, resource management, manufacturing, development, research, logistics, and more. Effective communication – connecting and coordinating departments with each other is one of the best arguments for using CRM. It is suitable for every company and organization, regardless of size, but it is characteristic of everything that the user is in the center of the event, i.e. customer and information about him.

2. Greater security and rationalization

The services of providers that offer web business solutions usually save data regularly, by backing them up to different servers and support the stability and security of services through collocation servers. Outsourcing of services and business systems is an increasingly common practice and brings many advantages, compared to conventional approaches – rarely maintained files on disk. With this approach, your staff is focused on your “core business” and does not waste time supporting and maintaining the business CRM system.

3. Organized customer database and business activities

One of the reasons to use CRM is to have all customer data edited and stored in one place. Such organized data can be qualitatively searched, processed, segmented, analyzed, etc. which makes you ready for everyday business challenges. We can see the overall picture and status of the customer only if at all times we have visible all the activities related to him, both past and open planned activities.

Many CRM solutions are based on a service that you access through a web interface with protected individual user access. The advantage is access to information from anywhere and anytime, allowing you to do business outside the office, on a business trip, or elsewhere. However, special restrictions on external access are possible if you request this from the provider. Also, CRM providers have been allowing access to the system via smartphones as well.

4. Effectively turn opportunities into profits

In addition to an organized database, the CRM system should support notes simply and intuitively and inform you about activities via standard communication media. Thus, activities such as calls, e-mails, offers, contract preparation, complaints, service activities, meetings receive “status” and are not lost, unrecorded, or otherwise missed, thus reducing the risk of missed business opportunities. Planned correspondence and project activities are most often reflected in a better business result thanks to dedicated business CRM systems.

5. Tracking the progress of all employees

Source: businessnewsdaily.com

To establish successful coordination of all employees, modern approaches through the CRM system allow an overview of daily activities and tasks, which is especially important for smaller companies whose employees perform several different functions, and their work depends on the work of others involved. It can successfully bridge communication delays between the front and back offices.

To encourage the fast and efficient performance of daily tasks, employees assign tasks to each other through a common interface and get the right information at the right time related to the client.

The common interface provides insight into the engagement of members of the sales and project team, which enables efficient work, and results in a reduction of frequent meetings and telephone calls, which is directly reflected in costs. With such an approach, sales managers are ready to respond on time to the daily challenges faced by members of the sales team.

6. Automats your business process

Either way, you receive business inquiries (via the website, phone call, e-mail, etc.) CRM allows you to channel and automate your business process. CRM, on the other hand, most often automates sales processes, which gives members more time for active sales.

7. Improves decision making

In CRM, you can set priorities for clients, prepare business activities according to conditions and business indicators, filter them, and process them according to various criteria. Here are some examples of what kind of information a well-established system can offer you:

– reports per market segments and products concerning implemented activities,

– reports on the status of business potentials by sales members, period

– better planning of sales activities, according to past activities

– will help segment customers by demographics, brand loyalty, and shopping habits.

– enables a detailed analysis of the sources of our business opportunities, which are often not reflected in proportion to the effort or money invested, which is important information for business strategists.

Although sales staff often view CRM as just another tool, additional work, or just another way for bosses to track their work, sales managers must not forget that a CRM system is not just software, but a new concept for customer relationship management. By establishing a new approach to sales activities, by applying an appropriate CRM system, the sales function in the company is optimized, and sales tasks are better delegated to contact customers on time.

 

Source:| – Iniwoo.net

 

Sitemap Generators For Faster, More Productive Crawling

Sitemap Generators For Faster, More Productive Crawling

Sitemap Generators For Faster, More Productive Crawling

Ensure more pages are indexed and crawled. Get it done with these top 10 best sitemap generators (with recommendations for every budget).

 

Sitemaps are a powerful tool for SEO pros and webmasters. They help Google and other search engines navigate through a website and find new pages and content.

It’s not guaranteed that search engines will index the content but telling them what pages are important can make a significant difference.

Sitemaps can help you:

  • Get an overview of your website’s structure.
  • See which pages are being crawled by Google and other search engines.
  • Know how frequently the pages are being crawled.
  • Identify pages that are not being indexed.
  • Determine which pages have errors that need to be fixed.

With help from sitemap generators, the search engine crawls of your website will be faster and more efficient.

If you have a small site i.e., less than a few hundred pages, managing your sitemap on your own is doable.

But if you have a medium or large site and regularly add a significant amount of new content, you may want to consider either adding a dynamic sitemap to your site or looking into a sitemap generator.

A dynamic sitemap automatically adds new pages to the sitemap file.

It is usually faster and requires fewer resources than writing to a static file.

Choosing A Sitemap Generator

If you decide on a sitemap generator, many tools are available online – but which one is the best for you?

Here are 10 of the best sitemap generator tools I’ve found for SEO pros:

1. Google Sitemap Generator

This plugin for WordPress creates a sitemap for your website that will be compatible with all Google requirements.

It’s easy to use and works for all sizes of websites.

The plugin also comes with various translations which can be a great add-on.

2. Screaming Frog

One of the most popular crawlers in the SEO community, Screaming Frog can be used to create sitemaps for any size website.

It also offers an XML sitemap generator.

This tool is a bit more advanced and is specifically designed for larger websites.

The XML sitemap generator follows this progression: Crawl The Website > Click Sitemaps > XML Sitemap > Select Pages To Include.

One of my favorite Screaming Frog features is it allows you to create a sitemap from a list crawl.

For example, if you want to check the status codes of a list of URLs and perform a list crawl, you can create an XML sitemap from that list crawl quickly and easily.

3. XML-Sitemaps.com

This sitemap generator tool allows you to create sitemaps for your website quickly and easily.

It also offers a range of features such as support for multiple languages and the ability to include/exclude certain pages.

With the online generator, you can create a small sitemap for up to 500 URLs.

Check for over 130+ common website issues and get special reports about your site’s crawlability, internal linking, speed & performance, and more.

If you need to create a bigger sitemap (up to 1.5M pages), there’s a pro model.

4. Yoast SEO Sitemap Plugin

A popular WordPress plugin that helps you optimize your website for search engines, Yoast SEO also includes a sitemap generator tool that can help you easily create sitemaps for your website.

One of the most appealing features about the Yoast sitemap generator is its set of sensible defaults for what goes into the sitemap – and for excluding many pages that should not be there.

Yoast SEO chooses to break larger sitemaps into smaller sitemaps. Their sitemaps hold up to 1,000 connected URLs.

5. Inspyder

This website software company offers an XML sitemap generator that is super easy to use and can handle complex sites.

It runs on your PC. You can schedule a sitemap generation and receive an email notification when the sitemap is complete, and also get a sitemap in multiple formats – images, video, etc.

6. Slickplan

A website planning company, Slick plan offers a sitemap generator that is easy to use and offers a WordPress plugin.

A valuable feature of Slick plan’s tool is that it allows you to build a sitemap from scratch using drag and drop or start with an existing website by importing its URL, sitemap index file, or Google XML file.

Slick plan’s visual sitemap generator builds easy-to-navigate hierarchical sitemaps to help you present and test a variety of architecture scenarios for web pages.

You can also offer batch editing for large sitemaps that require numerous edits.

Another cool feature of Slick plan is that it gives users the ability to easily import a website into the application from a previously exported XML file.

Additionally, you can export your existing XML website sitemap directly from WordPress and import it into Slick plan.

7. Dyno mapper

This generator gives you a good solution for realizing and displaying the true architecture of a website with interactive visual sitemaps.

Dynomapper’s sitemap is capable of crawling 200K pages per crawl. The sitemap editor enables users to rework the hierarchy, categorize pages, and assign a workflow status to each page.

8. Sitemap Writer Pro

This is a terrific tool for creating sitemaps fast, and for managing large sites that have millions of URLs.

Sitemap Writer Pro offers eight types of sitemaps to properly index your website: Standard Sitemap, Google Image, Google News, Google Video, Google Images, Google Code Search, Google Geo, and Google Mobile.

9. Write Maps

This is another visual sitemap builder that you can use to create a sitemap without investing time in formatting.

One of the great features of Write Maps is that you can export your visual content into a PDF or share it with a unique URL.

You can also upgrade, downgrade or cancel at any time.

  • Price: The monthly plans are free for three sitemaps up to 50 URLs and go up to $29.99 a month for unlimited sitemaps.

10. Octopus.do.

Eating super-fast visual sitemaps is what Octopus.do does best.

You can generate sitemap XML from visual sitemaps and submit it to Google, Bing, and other search engines to improve your visibility and SEO.

Octopus.do offers an interactive flow, taking full advantage of drag and drop.

You can also export your sitemap to various formats including PDF, PNG, TXT, and XML.

  • Price: Free for one project, then all the way up to $120 per month for unlimited sitemaps and projects.

Takeaways

These are the top 10 sitemap generators based on my experience.

There are many others out there, so be sure to do your research to find the one that is right for you.

Make sure it generates a sitemap that is formatted correctly and that you can easily upload and validate.

I’ll leave you with the following time-saving tips.

Sitemap Tips

Always create multiple sitemaps for different sections of your site. This will help you see which sections of your site have issues getting indexed.

The limit of a single sitemap is 50MB (uncompressed) and 50,000 URLs. If you have a larger file or more URLs, you will need to break your list into multiple sitemaps.

Alternatively, you can create a sitemap index file (a file that points to a list of sitemaps) and submit that single index file to Google.

Google does not consider priority in the sitemaps, so placing one URL as a higher priority will not have any impact on indexing.

Once your sitemap is created, place it on the root, add it to your robots.txt file and submit it to Google via Google Search Console.

After you’ve submitted it, watch for any errors, and check to see that the file has been submitted and read successfully.

 

Credit| (searchenginejournal.com)

 

Nigeria Development Update (June 2022): The Continuing Urgency of Business

Nigeria Development Update (June 2022): The Continuing Urgency of Business Unusual.’

High oil prices present Nigeria’s central bank with a chance to adjust the exchange rate – World Bank

Nigeria Development Update (June 2022):

The World Bank has stated that surging oil prices, being the highest in 9 years, have provided the Central Bank of Nigeria with an opportunity to adjust the exchange rate reflective of market dynamics.

The World Bank has stated that surging oil prices, being the highest in 9 years, have provided the Central Bank of Nigeria with an opportunity to adjust the exchange rate reflective of market dynamics.

This was disclosed by the World Bank in a document titled ‘Nigeria Development Update (June 2022): The Continuing Urgency of Business Unusual.’

The international lender told the Central Bank of Nigeria that timely and consistent monetary policy and exchange rate unification have become critical. The Bank also stated that despite the CBN’s claim of unifying the official exchange rate, the apex bank still supplies FX to at least four windows.

What the World Bank is saying

  • The World Bank stated that clarity on exchange rate policy, and transparency in its management, are necessary to attract more significant capital inflows, including foreign direct investment.

  • Hence, the International lender urged the Central Bank of Nigeria to unify the exchange rate. The bank said, “the benefits of a more effective exchange rate management, with a view towards a unified and market-reflective exchange rate, are more significant than in previous years.“

  • The Bank stated that the time was right for a more flexible exchange rate system, but urged that the pace of adjustment be gradual. “Favorable external conditions (oil prices being the highest in nine years) provide an opportunity to adjust the exchange rate reflective of market dynamics. Allowing further gradual adjustment in the IEFX rate, where the CBN manages the price, would help eliminate misalignment and alleviate persistent FX pressures,” the Bank said.

  • The CBN took steps to unify multiple exchange rates by adopting the IEFX window rate as its official exchange rate in May 2021. However, different windows still exist, and the parallel rate premium continues to climb, reaching 39 percent over the official IEFX rate in March 2022,” the Bank added

The CBN, according to the World Bank, continues to supply FX to at least four windows, sometimes at varying rates: (i) the I&E window; (ii) the secondary market intervention sales retail window; (iii) the small and medium-sized enterprises (SME) window; and (iv) the window for invisible.

Credit:| Ubah Jeremiah Ifeanyi / Nairametrics

Top Networking Trends & Developments 2022

Top Networking Trends & Developments 2022

The networking market is regularly adjusting its hardware and software components to meet the growing data demands of users, both in corporate and residential settings.

Networking use cases and network solutions are expanding as the cloud computing, Internet of Things (IoT), and edge computing markets continue to grow.

Top Networking Trends & Developments 2022

Top Networking Trends & Developments 2022

Learn about some top networking trends that are spearheading or supporting these technological changes in the market:

[5 Top Networking Trends]

1. Enterprise Network Strategy In The User’s Home

The COVID-19 pandemic and changing workforce expectations have led many companies to a more globally distributed remote workforce.

As a result, enterprise networking infrastructure now has to support users in their individual homes.

Drit Suljoti, co-founder and CTO of Catch point, a digital experience monitoring platform provider, explained that consumer-grade networking technology does not always offer the levels of support and visibility necessary for remote work, which is increasingly becoming a problem.

“Organizations across the board have experienced the frustrations and performance volatility that can result from consumer-grade Wi-Fi, VPN clients, and increased dependence on the internet from the employee’s wider household,” Suljoti said. “At the ground level, how can IT support desks ensure they have the necessary visibility into the daily digital life of their remote employees?

“These mission-critical teams need the ability to understand the digital performance of an individual’s device, network, and applications, and the third-party providers they rely on. This is even more essential when employees are working remotely, without on-site support to troubleshoot performance issues.”

Bob Friday, VP and CTO of Mist, Juniper’s artificial intelligence (AI)-driven enterprise business, believes that many companies are starting to respond to this remote work shift by increasing networking security and monitoring in their employees’ remote work environments.

“[A] major shift is in how enterprise-level networking trends are becoming increasingly important for personal users as well,” Friday said. “Whether you’re an executive at a company or you work in a profession that puts you into contact with sensitive information, the continued normalization of remote and hybrid work environments means that enterprise-grade networking and security will move into the home networking space.

“To ensure end-to-end network visibility, reliability, and security, we can expect enterprise-grade networking solutions to begin permeating the remote and hybrid workforce, as enterprise IT teams take an even sharper look at their network edge.”

2. Networking With Remote AI Support

Users and enterprise devices often need technical support that was normally provided in the office.

As remote work continues to become a standard approach, many companies are adopting AI solutions to assist with customer experience (CX) and support requirements of the network.

“More help is needed in managing this critical infrastructure, which is why AI has become a necessity for network management,” said Friday with Mist. “Enterprises and technology providers have already adopted AI assistants in their networking support teams. Cloud AI has enabled a new tech support model, one that has created the volume and quality of data necessary to train AI technologies.

“This AIOps model has led to incredible progress. At present, AI can answer up to 70% of support tickets with the same effectiveness as a domain expert. Eventually, this AIOps technology will move all the way to the end-user.

“And like the average human employee, AI has the ability to learn and improve over time, thus providing a better customer experience consistently and proactively. But unlike the average human employee, that skill and expertise is not lost when they retire or quit. The more that AI is used as part of the IT help desk, the more the technology can improve its answers and, ultimately, the end-user experience.”

3. The Growth Of Intent-Based Networking (IBN)

Networking technology continues to grow more sophisticated. Particularly with the more widespread use of software-defined networking (SDN), intent-based networking is being used more in enterprise networks that want additional business intelligence (BI), configuration management, and other features embedded in their networks.

Eric McGee, senior network engineer at TRGDatacenters, a data center vendor, explained why IBN is helpful to network administrators who want to better understand and manage their networks.

“One important networking technology trend that network engineers need to take note of is the emergence of intent-based networking,” McGee said. “The main role of IBN is to capture business intent and apply these insights across the network, ensuring that network administration is aligned with business intent. In other words, the IBN framework will receive an intent from the business and translate it, or encode it into the configuration of the network, resulting in the desired changes. Now, the network infrastructure is aligned to the business’s current needs.

“IBN also enables the automation of network administrative tasks involved, such as the configuration of networks, mitigation of risks, as well as the reporting and solving of network issues. Implementing IBN as a form of network administration makes the process of creating, managing, implementing, and monitoring network policies easier, simpler, and less labor-intensive. A lot of the manual effort put into traditional configuration management is made redundant when IBN is implemented.”

4. Holistic Networking Offerings

Traditional networking solutions typically require a variety of hardware and software components to work properly. However, as networks continue to evolve their software-defined, cloud, and edge, and solutions, many networking vendors are offering more holistic networking packages to manage every aspect of the network.

Patrick MeLampy, Juniper Fellow at Juniper Networks, a top global networking company, believes that enterprise client-to-cloud connectivity is one of the biggest drivers behind more unified networking packages.

“I’d have to say that there are a few key networking trends that are gaining steam and should be big next year,” MeLampy said. “Enterprise client-to-cloud connectivity service offerings will take off. This means we’ll see Wi-Fi, wired, routing, and security capabilities pulled together, all in one simple offering, making it more efficient and effective for teams to manage ever-expanding networks.”

More on networking offerings: Guide to Network-as-a-Service (NaaS)

5. Managing Network Data With Different Ops Methodologies

With more software- and cloud-based networking solutions used across the board, a number of companies are looking into new ways to manage and read their networking data.

Richard Larkin, manager of North America sales engineering at Net Brain, a next-gen network operations company, believes that the knowledge and approach of different ops teams are particularly applicable to new ways of automating network data management.

“The days of managing networks with SNMP polling and traps as well as syslog data are almost over,” Larkin said. “Many enterprises still leverage these telemetry sources, but it’s not enough. We need a more comprehensive solution harvesting data, from API, CLI, packet, net flow, and other sources, to get the complete picture as well as visibility into SD-WAN, SDN, cloud, and SaaS offerings.

“A trend that I am seeing is the blending and blurring of lines between Net Ops, Sec Ops, and DevOps. With networks becoming more software-defined and cloud-based, organizations are trying to fill the gap with the traditional network monitoring data (SNMP, syslog, etc.) with homegrown solutions using Python, Ansible, and other coding. What would be interesting is if there was an easier way to codify the knowledge of the Net Ops teams that required minimal coding and can be produced in minutes, not hours, days, and weeks.

COPY:| @Datamation

10 Important Areas to Explore During Your Company’s Mid-Year Check-In

10 Important Areas to Explore During Your Company’s Mid-Year Check-In

Mid-year checks are a great time to revaluate the goals your company made at the beginning of the year and ensure employees and metrics are on the right track. When conducting these check-ins, it’s crucial to look at a few pertinent areas that could hinder your company’s success. To that end, 10 members of Young Entrepreneur Council (YEC) weigh in on the following question:

“When conducting a mid-year check on company goals, what’s one area you’ll want to take a look at, and why? How will this help you gauge your progress?”

Here are their top recommendations.

1. Processes Hindering Employees

“The goal is to understand if any parts of the process are hindering employees from reaching their targets and setting goals. Regular check-ins should be in place, not just mid-year, to consistently evaluate strategies and how the entire team works together. It’s critical to understand if there are bottlenecks in any areas and to optimize how employees meet targets.” ~ Thomas Smale, FE International

2. Mid-Year Successes

“We all know that we need to analyze our goals, evaluate our communication channels and so on, but one area that is often overlooked is reasons to celebrate. Take time to celebrate any mid-year goals you’ve already reached, and recognize yourself and your company for the hard work. Plus, celebrating helps create a winning mindset that will help carry your company forward.” ~ Shu Saito, Fact Retriever

3. Company Culture

“I often think company culture gets overlooked in the midst of mid-year budget and production checks. How is the energy on your team? How are your employees? Mid-year is a great time to take stock of the promises you made at the beginning of the year internally and ensure that your actions match your commitments. Your team is the core of your success, so spend time to make sure they are engaged.” ~ Ashley Sharp, Dwell with Dignity

4. Customer-Facing Communication

“One important area that I like to check is our customer-facing communication. I do a thorough check of our social media content, email newsletters and customer support tickets. This is critical because it helps me find any holes in our communication and make sure our marketing is moving in the right direction. It also gives me the chance to see how customers respond to our marketing.” ~ Syed Balkhi, WPBeginner

5. Your Team’s Performance

“One area to look at is employee productivity. Ultimately, your team’s performance determines how far you go. You can track employee productivity by monitoring their progress on specific projects or goals. Also, check engagement. How connected and motivated are employees to do their work? Consider using surveys, focus groups and interviews to measure

6. Customer Retention and Satisfaction

“I always look at retention and customer satisfaction as the most important metrics. Retention shows us how well we are serving our customers. This results in higher business value and increased loyalty overall. Satisfaction scores like NPS divulge what they’re really feeling and where we can improve. With looming stiff competition, it’s a good challenge for us to retain and satisfy customers.” ~ Candice Georgiadis, Digital Day

7. Your Current Goals’ Progression

“Check on the goals themselves. It’s likely they’ll need to be updated in one of two ways: either scaled back or made more aggressive. This will depend upon current progress. This is the best way to gauge your progress by reviewing what you set out to accomplish in the first place and then acting accordingly.” ~ Andrew Schrage, Money Crashers Personal Finance

8. Your Team’s Happiness

“The first item I look at before the results is how my team is doing. Are they happy (or at least content), and do they still want to be working with me? None of the other goals mean anything if the team is not happy and working toward the same goal together.” ~ Zane Stevens, Protea Financial

9. Cash Flow

“In addition to looking at the profit and loss statement to make sure the company is staying on budget and on target to hit its financial projections for the year, I recommend looking at cash flow, which is the best indicator of your company’s solvency and whether or not you’ll be able to keep your doors open at the end of the year. You always need to have enough cash on hand to pay your bills.” ~ Jonathan Prichard, MattressInsider.com

10. Individual Employee Goals

“Individual employee goals are one thing we check mid-year. We ask employees to log measurable goals with their manager on our HR website and develop plans on how to accomplish them. Then, every quarter during a review, the manager asks the employee how well they performed. If an employee shows they can plan for the long term, that forward thinking can only boost your business.” ~ Duran Inci, Optimum7

 

Credit | @GoogleNews, @SmallBussinessTrends

Solar Industry Stats and Growth Projections in 2022

Solar Industry Stats and Growth Projections in 2022

Solar Industry Stats and Growth Projections in 2022

Solar Industry Stats and Growth Projections in 2022

Solar energy has been a fast-growing industry in America and around the world since the mid-2000s. Here’s a look at how solar power has evolved and where it’s headed in 2022.

The concept of generating energy from the sun goes back to at least the 7th century B.C., when people used it to light fires with magnifying glasses. Then within four centuries, people were lighting torches with a combination of sunlight and mirrors. By the late 18th century, ships used solar ovens for long journeys.

Scientists began to develop solar cells made from selenium in the 1880s. The first silicon-based photovoltaic (PV) cells were developed in 1954 at Bell Labs, the research firm that played a leading role in modern computer technology. The first uses of solar panels were on satellites during the NASA space race in the late fifties.

The main problem with solar energy over several decades was low efficiency, meaning it was difficult to harness much of the sun’s energy with solar panels. From 1957 to 1960, Hoffman Electronics increased solar efficiency from 8 to 14 percent. By the mid-eighties, it jumped to 20 percent, and now entering 2022, it’s up to 33.3 percent.

The U.S. government introduced solar tax credits in 2006, which created a boom in the solar industry. Since then, China has been a major global manufacturer of solar panels, as the price has steadily dropped to affordable levels for homeowners. The cost of solar energy in 1956 was about $300 per watt, including installation. By 2019 panel cost was under 3.00 per watt.

Between 2010 and 2017, the cost of solar-generated electricity dipped for utility companies from 28 to 6 cents per kilowatt-hour, according to the U.S. Department of Energy. This reduction corresponded with a 52 to 16 cent per kWh decline for homeowners. While consumers measure solar power in kilowatt-hours, the top U.S. solar plants measure capacity in megawatts (1 million watts) and annual output in gigawatt-hours (1 billion watt-hours). Today the United States is the world’s number two solar power generator, based on total PV installed capacity in megawatts, but far behind China.

 

SEIA collects data on U.S. solar installations and energy consumption. Other industry metrics are gathered by IBISWorld, which reported that solar industry revenue was $10 billion in 2019. This figure represents an annual growth rate for solar above 36 percent over a five-year period.

The peak year for solar installations so far has been 2016, which was largely due to businesses and residents fearing the Solar Investment Tax Credit (ITC) would expire. Congress then extended the policy through 2022. Installations surged to over 14,000 MW of solar capacity in 2016. The number declined the next few years, but in 2019 experienced more growth, well overall in previous years except 2016. The U.S. solar market is expected to hit $22.9 billion by 2025.

Here are important solar stats released in 2019 by SEIA:

  1. SEIA projects that over the next five years, installations will more than double in solar capacity, surpassing 100 GW by 2022.
  2. Over 10,000 U.S. companies are involved in the solar industry, with the largest employers operating as installers.
  3. About a third of all new U.S. energy installations in 2019 were for solar.
  4. The geography of solar development plays an important role where solar jobs are based, with California as the leader, generating over 26,000 MW versus distant runner-up North Carolina. Other top solar states are Arizona, Texas, Florida, Nevada, New Jersey, and Massachusetts.
  5. Over 242,000 Americans were employed in the solar industry in 2019, which was double the number from 2012.

 

Credit| linchpinseo

Businesses Warned Of Rise In Crypto Crime

Businesses Warned Of Rise In Crypto Crime

crypto crime

Criminal gangs are using digital coins as their currency and businesses are being warned they need to protect themselves.

Criminal gangs are using digital coins as their currency and businesses are being warned they need to protect themselves.

Australia’s financial intelligence agency has released two new guides to help businesses deal with ransomware attacks and spot the criminal use of cryptocurrencies.

Businesses should report any suspicions that digital currencies are being used for money laundering, financing terrorism, or to pay ransoms, Australian Transaction Reports and Analysis Centre (AUSTRAC) chief executive Nicole Rose urged.

Agencies are trying to keep up with rapid change in the digital economy as criminals take advantage of the increasing take-up of digital currencies to commit crimes and hide from law enforcement.

Digital currencies are also being used for a variety of schemes including romance, investment, and job scams. Scamwatch received more than 10,000 reports last year, with losses of almost $130 million.

“Financial service providers need to be alert to the signs of criminal use of digital currencies, including their use in ransomware attacks,” Ms Rose said on Thursday.

Some 500 ransomware attacks were reported in the 2020/21 financial year, up nearly 15 per cent on the year before.

Targets of ransomware attacks, a form of malicious software or malware that locks out computer users, have ranged from transport firms to hospitals.

Hackers demand payments in exchange for restoring access to data and systems, increasingly using cryptocurrencies because they are harder to track.

Defence Minister Peter Dutton has identified Russia-aligned Conti as the most successful and active ransomware-as-a-service (RaaS) operator in Australia.

Blockchain Australia chief executive Steve Vallas said businesses need greater awareness of the risks, and to use the tools to tackle these new threats so innovation and growth can continue.

“The use of digital currencies for criminal purposes has no place in our sector,” he said.

Advice was also issued overnight by Australia’s Five Eyes intelligence partners – the United States, United Kingdom, Canada and New Zealand – to prepare for Russian cyber attacks against critical infrastructure.

Australian Associated Press

Credit: Source link

Search