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How IT Offshoring Is Helping Businesses In Expansion 

As the competition in the market is increasing and new start ups are emerging with a fast pace, Organizations have acknowledged the relevance of offshoring. Organisations across the globe are prefering the offshoring services in order to meet the needs of the market, people and the global updates. As we all know that products and services are basically delegated to the right people in the right locations to meet customer's satisfaction. It is also true that lower wages in foreign countries can give significant savings and efficient services with ultimate success and greater profitability and response to companies. Offshoring is basically defined as contracting work to a third party company where average development cost is lower in low-cost countries such as the Philippines, India, and Malaysia.

Offshoring is a migration of specific business units to a specialist of an external service provider. At most of the time, we have seen that an organization cannot handle all aspects of a business process activities internally. In order to handle this businesses appoint an intermediary expert who is based offshore to help them carry on with their required tasks. Hence, this is the point where an experienced IT Offshoring service provider comes and offer their extensive service. Offshoring is where a company engages an intermediary who is based offshore and helping his company to engage staff in that country. The company or business has direct managerial control over the staff and is involved in the recruitment process as well to select their offshore team. The Offshore services range from simply assisting with recruitment through to a full service offering, which includes recruitment, training, and IT support.

Know How Offshoring Can Help Your Business

  • It is cost efficient
  • It allows cost restructuring
  • It leaves the company heads to focus on the core business
  • It Improve the output quality
  • It is scalable
  • It offers space management
  • It has effective measures on risk management

What Are The Benefits Involved In Offshoring:

Due to affordability, businesses can save money, and companies will experience an increase of value in the economy.Expanding globally can expose a company to a wider talent pool and can lead the way to utilizing new capabilities, skills, and strategies. Apart from this resources that aren’t available internally can be accessed. In other words you get a pool of highly experienced professionals at low cost and you can utilise it in best way as you can.For example, hiring a developer in the USA or Western Europe will cost around $50–$250 per hour. The cost of an offshore developer ranges from $15–$50 an hour, depending on skills and experience.

Off-shored processes like information technology, customer service, software development, and accounting will be handled by experts. So opting the Offshoring can therefore pave the way to a more customer-centered. Companies can learn and apply the off-shored department or offshoring company’s best practices, and thus accelerate business maturity.
If you are a start up or an existing business, planning to set up your Offshore IT team, give us call today and let us devise a perfect dedicated team for smooth running of your business
Give us a call today on +44 (0) 20 7993 5540, +44 (0) 20 7993 5744 Or email us at sales@generalsoftwares.com

Know How IT Outsourcing Can Help Your Business

Posted by Pankaj Tuesday, November 26, 2019 7:17:00 AM
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How To Start Money Transfer Business 

According to some reports, the digital remittance market across the world was valued at around USD 1.93 billion in 2018 and now it is expected to reach approximately USD 8.61 billion by 2025, slightly above 23.8% between 2019 and 2025.

As we know that money remittance is interconnected with the banking system in the countries, where funds are securely transferred and received through the set of processes. The digital money transactions can be done in less time regardless of the locations of the user and the receiver wherever, whenever.

Many start ups are planning to expand their services and business globally, but while starting a new money transfer business, it becomes very important to complete deep analysis of the market, various factors related to the business like targeted locations, services involved, your affiliates, competitors analysis. Making a plan for complete execution is somewhat different from on ground work. Some other important points on which you must focus before starting a money transfer business are:

Your detailed plan and initial requirements:

Before starting Money Transfer Business, it is very important that there must be a detailed plan and your initial requirements along with your clear mission and vision.

The demographic and psychographic analysis of the targetted locations:

The demographic and psychographic composition of the people who can opt the services of a money transfer business. They may be migrants from different countries, working in some different locations. According to statistics, more male migrants, from young adult to middle aged are mostly the ones who are involved in sending money back to their home countries.

Threats and challenges you can face when starting a money transfer business:

It is very important that to understand that if you are going to start new money remittance business, bear in mind that there are several challenges you are going to face, and these challenges will determine the success of failure of your business. The challenges could be downturn of economy, arrival of tough competitor, unfavorable government policies, and other challenges.

Money Transfer License

You will need to obtain a license that will allow you to transfer money in order to start and run a standard and successful money transfer business and it varies across all countries.

Setting Up a Merchant Bank Account

Once you will set up a merchant bank account, your business can accept debit and credit card payments without hassle, increased security, your business gets ability to accept payments in a wide variety of currencies and better money management.

Investing in a good money transfer software solution

One of the most important part of the money transfer business that will drive your business, provide fast pace, responsible for business expansion is investing in a good money transfer application. The money transfer software solution must be simple to use, it must be effective as well. The money transfer platform must also fulfill your future requirements and objectives. It must support all major currencies and languages.

Setting up dedicated IT and Management team

You can find the IT outsourcing company in order to set up a dedicated IT team. As it is very true that the future and success of a start-up also depends on the people associated with it. Experienced IT professionals can help in your customisation and in new development or in adding new features as well.

Starting business Operations

Once the steps described above are completed, you can start your business operations. You can accept money transfer requests from a store or offer your services online, using your business’s website to keep costs low.

We understand that initially it can be a bit complicated, but as you will start working on the things it will bring a great outcome. If you still have some queries you can take help from experienced business consulting firms or experienced Financial consultants. If you are a start up and planning to set up your business, give us call today and let us devise a great product and services for smooth running of your business.

Posted by Pankaj Thursday, August 29, 2019 10:20:00 AM
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Electronic Money Software Solution For Your Business 

 

Global banking landscape is rapidly changing with the new technological innovations. It can be seen clearly that all the new fintech start ups are primarily focussing on improving customer interaction with the financial platform system, it can be money transfer system, electronic money platform system or any other financial solution. Most of the financial institutions are making great investment in developing advanced solutions for meeting the demand of customers and compliance obligations.

One of the advanced solution in banking & financial industry is Electronic Money. E-money or Electronic money basically refers to money that is present in banking computer systems and that may be used to facilitate electronic transactions. We have seen that due to the growing speed of internet and advanced devices, the electronic payment system has grown increasingly over the last decades. Also along with the rise of electronic payment systems, companies which provides payment processing devices are also growing. E-money has brought lots of new opportunities and possibilities in the market. Use of digital money is very easy and convenient, with electronic money, people can send batch payments, it can also be used to pay for utilities, transfer money to others, trade and much more.

Electronic money is used for making transactions globally. It may be exchanged for fiat currency, electronic money is most commonly utilized through electronic banking systems and it is monitored through electronic processing. The vast percentage of it is housed in bank vaults and is backed by central banks.

It is clear that electronic payment systems have a range of advantages in comparison to traditional banking services and we have listed some of them :

Advantages of Electronic Money-

  • The modern advantage of E-money is that it gives you new aspect to payment methods in large markets, introducing many business opportunities and greater potential revenue.
  • Bring all your payment details together in one place for quick and easy payments.
  • It redefines the user experience of paying and incorporates a novelty aspect to each purchase.
  • You make it easier for international customers to do business with you
  • It provides you host of benefits like online shopping, exclusive offers, quick money transfer in any currency to anywhere, anytime
  • It also contains more than one currency wallets for transactions

GSL offers electronic money software solutions to make your business easier. With our GSL- Emoney features you can make transfers and payments for your business . Alternatively, if you are an electronic money institution or payment service provider you can take advantage of our own specifically dedicated software, GSL money, and launch your own branded product.

Posted by Pankaj Friday, July 12, 2019 6:13:00 AM
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