Companies are constantly looking for new ways to increase productivity, security and profitability of their operations. In the case of large companies this is a natural way, because there is almost always money and even departments of innovation. In the case of small and medium-sized enterprises, despite having the same importance, this is a more delicate route […]
Any business owner needs to know how to maximize their profit and to demonstrate to investors that the company is heading in the right path since revenue can indicate a firm’s potential. The most important difference between revenue and profit is that while any company can increase its revenue, it may well be registering a […]
Would changing the inventory valuation method from First In First Out (FIFO) to Weighted Average (WA) or vice versa reduce my VAT payments? VAT is computed on the amount paid to purchase or sell an item. So, in case a retailer purchases stock for 1,000 BD from a distributor, the VAT amount would be 50 […]
Advantages of using Accounting Software Updated accounting data has many advantages for any establishment, and these advantages will be more valuable if you manage it through an accounting software. Through it you will know what happens in your business, reports will be generated automatically and without losing effort or time in them. Accounting software or […]
Moody’s lowered the Bahrain’s long-term issuer rating to B2 from B1 and maintained a negative outlook. It has also lowered Bahrain’s long-term foreign-currency bond ceiling to Ba3 from Ba2 and long-term foreign-currency deposit ceiling to B3 from B2. The short-term foreign-currency bond and deposits ceiling remain unchanged at Not Prime. Bahrain’s long-term local currency country […]
SSL stands for Secure Sockets Layer. It is the standard technology that uses encryption algorithms to scramble data in transit. This aims to keep internet connections secure and safeguards any sensitive data that is being sent between two computers which prevents hackers from modifying and reading any information transferred. SSL Certificate To implement […]
Pondering the idea of whether or not it’s time to ask for professional help for your business. Well, here are the top 5 reasons why you should hire a business consultant. Consultants are the leading experts Consultants are often the leading experts in the fields they work in, so they will provide you with […]
Some people believe that business plans are merely guesses made about the future of a business that we know little or nothing about. However, statistics indicate that businesses, activities, and even individual actions have a better chance of succeeding if they start out with a plan. Each business should have a starting point and […]
In our previous articles, we listed the main reasons behind the deficit being faced by Bahrain’s Social Insurance Organization and we also reviewed the solutions being discussed by the Shura Council and Parliament. In this article, we are going to propose alternatives that could potentially resolve the issues faced by the Pension Fund once […]
Microsoft Planner, where have you been all my life?! Tired of following up on your team to perform their committed tasks despite the constant reminders and follow up emails? Do you find to-do lists, post-it notes, and calendar reminders ineffective? Probably you have an Excel sheet where you keep track of all the tasks […]
Inventory management is so critical if you want to run a profitable restaurant. A restaurant’s profitability is calculated using the cost of goods sold, so it is important that your calculated inventory value be as accurate as possible. This is where the inventory valuation method comes to surface. Choosing the right method can make the process […]
In our previous article, we listed the main reasons behind the deficit being faced by Bahrain’s Social Insurance Organization. We are now going to discuss the remedies being discussed by Parliament and the Shura Council to resolve the issue. In order to put things into perspective, we need to get some figures from the SIO’s […]
So, what is a disaster? A disaster is an event, often unexpected, that seriously disrupts your usual operations, processes and producers, and can have long term impact on your normal way of life or can affect your business. What is Business Continuity Planning (BCP)? Business continuity plan (BCP) is the creation and validation of […]
The success of a manufacturing business primarily depends on the way that the products are costed. There are different kinds of costs involved in a manufacturing organization. Knowledge about the difference between absorption costing and variable costing is essential to do the product costing. Mainly, the costs can be recognized as variable costs and […]
There has been a lot of talk lately regarding the deficit faced by the Social Insurance Organization and the impact that such a deficit will have on the pensions of hard working Bahrainis looking to retire in the near future. Ironically, much of the focus has been directed towards the efficiency of the SIO’s […]
Marginal Analysis: Is an exercise that helps a company make decisions to maximize their profits by comparing the additional benefits and the additional costs generated by increasing their output of the same activity. When Marginal Benefit > Marginal Costs, the company should increase the activity output. When Marginal Benefit < Marginal Costs, the company should cut down on the output. Marginal Revenue (MR): It measures the increase/decrease […]
The Business Model or Canvas, as it is also known, is a tool that helps starting a proper business. It was developed by the Swiss Alex Osterwalder to facilitate the complete understanding of a business. Thus, the model aims to describe all the elements and phases that make up an enterprise, providing the integration of the organization. According to the tool’s creator, the […]
We receive a lot of enquiries asking about Business Process Reengineering (BPR), what is it, what is it used for, its benefits, and when or why a company should require such a service. We hope that this article summarizes BPR and its benefits. Business Process Reengineering has become synonymous with upgrading a company’s IT […]
At their essence, logos are made to identify. Using images, icons, marks or symbols, logos identify companies or products in the most basic way, so that when someone views a logo, they can link it with the brand it represents. Nowadays, with so many logos in existence, it’s not hard to find examples of great […]
The feasibility study is the important step in any software development process. This is because it makes analysis of different aspects like cost required for developing and executing the system, the time required for each phase of the system and so on. If these important factors are not analyzed, then definitely it would have impact […]
What is a Feasibility Study? A feasibility study is conducted in order to determine the success and minimize the risks related to the project. When it becomes certain that the specific project could be carried out profitably, it is only then it could be implemented. The feasibility study is not merely a project research, but […]
Saudi Arabia’s Department of Zakat and Income Tax has recently published its Value Added Tax Implementing Regulations. Although regulations in other GCC countries may vary slightly, it is safe to assume that the overall VAT structure will be similar if not identical across all GCC countries. Main Highlights Companies with “Supplies” exceeding the “Mandatory Registration […]
Value-Added Tax (VAT) is coming to the GCC in 2018. This will undoubtedly have a direct impact on business operations across the region. Is your business ready for the change? What is VAT? A value-added tax (VAT), known in some countries as a goods and services tax (GST), is a type of general consumption tax […]
What is Salon Iris? Salon Iris is a management software for beauty salons and spas. Salon Iris acts as a POS (Point of Sale) and includes customer engagement functions as well, and it will guide your businesses to increase profitability. Even if the salon was closed Salon Iris will allow customers to book appointments […]
Managing a salon comes with a unique set of challenges. Booking appointments, managing inventory, tracking sales, and scheduling room bookings are all part of the day-to-day activities of a salon. Perhaps one of the most difficult aspects of a salon business to manage however, is the control of consumables used to perform services. Consumption of […]
Obtaining and utilizing a point of sale system may seem like a hectic mess that would cost you a substantial amount of money that may be used elsewhere, however, upon further evaluation, the point of sale system will benefit you and your business remarkably. To begin with, there are two categories of systems, one which […]
Point of sale software, or POS software for short, have revolutionized the restaurants industry, particularly the fast food sector. Aldelo is one of the best POS software which contains many features that restaurant owners will find useful in running their business. One of the best features in Aldelo which sets it out amongst other restaurant […]
While you are waiting in queue at your favorite supermarket, rather than looking at the back of the customer in front of you, you try to find something interesting around you. The perfectly displayed chocolate bars remind you of your hunger, so you decide to grab one. And that pack of 16 AA batteries […]
As a restaurant owner, you might have run your business in the past without a POS (Point of Sale) system. Undoubtedly, it demanded a lot of effort from you and your staff. Having to write down the order and pass it verbally or by hand to the kitchen staff where it is routed to […]
Running a restaurant business comes with long list of challenges. We regularly get restaurant owners asking us how would installing a POS system would help their business, but they do not want the usual answer of streamlining operations or keeping records of sales. They are more interested in understanding how a POS system would help […]
POS Marketing A Point of Sale (POS) system is a retail management system that tracks the time and location of sales transactions. It also calculates the amount owed by the customer and provides receipts upon completion of a purchase. The functionalities of POS systems nowadays have extended vastly. Most point of sales track customer details […]
Choosing the best social media marketing platform Social media has grown to be the most visited platforms on the planet, they even outnumbered the mighty search engine Google. So, who do not want to increase traffic to their website? First, we need to understand that there are so many social media platforms to market on. Let […]
Moody’s has recently lowered Bahrain’s long-term issuer rating by two notches to B1, from Ba2, and maintained the “negative” outlook. Before venturing into how this will impact the Bahrain’s economy, we need to understand first what is meant by credit ratings. A credit rating is an assessment of an entity’s ability to pay its […]
