Collecting debt can be a very traumatic experience for any business. The process of contacting individuals and companies that have not paid can take valuable time away from other important business matters and the necessary attention to running the business. Hiring a debt collection agency is the perfect solution to having the entire matter handled by a source outside your company.Many businesses extend credit to customers to drive sales and improve customer relationships. Though this strategy is successful in getting more business and retaining existing customers, it also creates the problem of bad debts. Bad debts are the receivables that have not been collected. Bad debts show unfavourably on a business account and severely affect the valuable cash flows.

Technorati Tags: Collection Agency, Collection Agency Services

This is the age of automated processes and software’s that are geared towards business process automation of BPM. There are different types of automation software including the time and billing programs. Time and billing software’s are available online as well as offline and you can choose any one of them depending on your requirement. If you are looking for an Internet hosted time billing and project management software then there are several options available.

An Internet hosted time billing and project management software is basically a high-end solution that helps organizations to meet their requirement of internet and VOIP based services. This software will allow your organization in managing several back-end processes like duplicate bills to clients, recurring bills, management of the entire accounting system, and much more. Using a top-of-the-line Internet hosted time billing and project management software will help in enhancing the overall profitability of your organization.

The key function of any Internet hosted time billing and project management software is to keep your company accounts clean and well sorted out so that important information is available online to you from anywhere and at anytime. This helps indirectly in increasing the customer relationship factor to a great extent and the end result is happy customers. With the help of a time, billing and project management software, you will be able to handle several aspects of your day-to-day operations with ease and efficiency. You will be able to create useful and important management reports that will throw light into the productivity and efficiency ratios so that you can enhance them in the near future.

Internet hosted time billing and project management software will help you to set up a role-based security system where you will have administrators for the software with each of them assigned a specific role. Each of the administrators will be able to log in with their username and password. This to a great degree will enable you in designating a specific role or task to your administrators and minimize chaos. You can even have special billing administrators for accessing the software’s billing interface. The Internet hosted time billing and project management software can also take back-ups of your entire database at various time intervals so that you won’t be at a risk of losing any important data.

Some of the main features or functionalities of Internet hosted time billing and project management software include:

Recurring billing: There is a built-in feature that supports recurring billing and standard cycle-based billing.

Consumption billing: You can configure your Internet hosted time billing and project management software using unlimited rate specifics as well as their components and each of the rate components will consist of fixed charge, per-day and stepped-range components.

Time-based billing: Using the software, you can even calculate the billable hours from the client’s point of view and the employee point of view as well. You can create reports of the total time an employee worked on a certain project and also record their efficiency and productivity levels.

The Internet hosted time billing and project management software is the new age paperless solution!

For further information, please visit Internet Hosted Time Billing Software

Author: Hayi Mansoor

Technorati Tags: microsoft project, property management, software development

There are some methods you can develop in order to help you to achieve your goals, and I have a listed a few below as pointers to success:

You do not need for me to tell you how competitive this business is, you will always be competing against others for the best candidates and you will need to move quickly to ensure you find the best candidates and keep them once you have found them. A new vacancy will be out there for all to see and you need to move quickly to ensure you get the pick of the crop.Always post up jobs of boards as soon as you hear about them.

After you have secured your candidate keep in close contact, and this means after they have started the job also. Many a new candidate has felt dissatisfied in a new role and decided to jump ship in the first few weeks, this could lose you your fee if the client refuses to pay up. A call early on could save you a lot of problems later, if your candidate doesn’t seem too happy a little encouragement and advice in terms of ‘giving the new role a good try’ could save you a lot of money and time.Always make sure that your candidate has realistic expectations about the salary they are likely to achieve, unrealistic expectations can lead to wasted time and may lose you both the candidate and even the job.

Always keep good records of the progress of your interview/placement, this starts with ensuring that you always put everything in writing, this way you have evidence if needed later on. Verbal conservations can often be misunderstood, times and places can be mistaken and such a mistake could be the cause of a lost placement. Make sure you are aware of new vacancies, this way you are in the best position to make your move quickly, before the competition has a chance.

There will always be another agency out there waiting to pick up the best candidates so don’t get left behind, Lost opportunities mean lost fees, and this you cannot afford.Always confirm details of meetings, times and venue the day before an interview is to take place, this way if you candidate decides to pull out you at least have some chance to make your apologies in advance, if you are lucky you may even be able to find another candidate in time.

Make sure you keep a good relationship with your client, and this means ensuring your client is of high quality and has the right experience and qualifications for the job in question.The business of recruitment consultancy is no easy route to take, but if it is your chosen path make sure you walk it well, keep you eye on the ball and don’t let the competition get in first.

By: Seb Bult

Technorati Tags: finance recruitment, recruitment jobs, recruitment services

We have been told that the interest rate is the percentage of money that the lender charges the borrower for providing the funds that he requests. However, there are different ways of calculating these rates and many other costs and fees that are not always included in the rate. If you want to calculate the true cost of a particular financial product there are some tips that you might find useful.

There are variables that can modify the results on these calculations only slightly and others that have a huge incidence: For instance, certain rates informed are only offered to those with a perfect credit, if your credit is not that good you need to expect another one. There are also additional costs that need to be added like insurance and administrative fees that can also depend on your score. The APR can be a great tool for comparison but you need to pay attention to the above factors too.

The APR For Financial Product Comparisons

The APR is said to include all the costs of financing so people can compare and decide which financial product best suits their needs. However, truth is that not all costs and fees are included. There are certain charges like special insurance, administrative costs, etc. that can be excluded by lending institutions from the calculation of the APR and added later in the fine print of the loan contract.

Thus, it is always a good idea to request the lender a copy of all the documentation that would be signed prior to signing anything. That way, you can analyze it calmly at home and see what all the fees included will cost you on a monthly basis (some insurance fees are debited twice a year and some issuing costs or administrative costs are debited once a year). So, though the APR is an excellent tool for comparisons, do not neglect the rests of the factors that can alter the final cost.

The Credit Score Issue

Many people believe that those promotions that appear on newspapers, magazines, on the net and on many other places are for the average consumer. However, most financial institutions feature these promotions knowing that they will attract customers that will not read the fine print of the offer that states in other words that in order to qualify for those promotional rates or conditions you need to have a perfect credit.

Yes, Perfect Credit; it is usually not enough to have an average credit score with maybe a few late payments on your history. In order for you to obtain those financial products with such advantageous terms your credit history needs to be impeccable. Thus, when you contact the lender you will find out that you do not qualify and that you need to agree to other loan, line of credit or credit card with different conditions if you want to obtain finance. Lenders count on this; the offer is only to attract customers. Few will qualify and the money they lose with them will be compensated by the higher rates they will charge to others. Thus, if you want to know the real cost of a product, you have to request quotes and read the fine print closely.

By: Devora Witts

Technorati Tags: investment fund, investment managemen, mutual funds investing, small business finance

Here are three key strategies to be more successful with clients;

1. CLEAR AGREEMENT

The very best favor you can do for yourself and for your client is to get to an absolutely clear agreement about your relationship and the work to be done before beginning.

If you prepare a written proposal — this is the perfect opportunity to very clearly and firmly set out the objectives, describe what you will (and will not do), the timetable, the measurements of accomplishment, payment terms, everything … without the brutal formality of a contract, filled with “legalese.

If you deal with entrepreneurs, as I do more often than not, they have no “norm” in mind for what proposals ought to look like, so you have great flexibility. If you’re dealing with association committees, government agencies or big corporations, you’ll probably need to be more formal.

Brief or long, formal or informal, one thing to strive for in your “documentation” is to anticipate and prevent every possible future misunderstanding or disagreement.

2. FREQUENT, CONTINUOUS, QUALITY COMMUNICATION

First of all, all past and present clients and targeted prospective clients, referral sources, important peers, etc. should be on a “VIP mailing list” and get a regularly published newsletter or some sort of email communication from you.

Second, clients with projects in progress need to be kept informed. Here’s an important tip: the client waiting for and anticipating results feels time pass differently than does the consultant working on their behalf. A week seems like an eternity to the client, a few hours to the consultant. You can keep off a whole lot of problems by keeping your clients informed of your work and progress.

Personally, I like to send unexpected emails for this purpose. I’ll get brief up-to date memos off to my clients early morning or before the close of a business day. Sometimes I will even record a message and email it to them for clarity. Time spent sending out emails and recording messages prevents hours of needless phone conversations.

3. MANAGING FOR PROFIT

One of the the things I notice with new and experienced consultants is that they lose their focus in general. They start giving away way to much advice for free and then they feel really crummy. Ask yourself, what is the purpose of being in the consulting business? Your primary purpose must be to make as much money as humanly possible from your expertise, time, energy, resources and client relationships. Of course, you want to deliver extraordinary services. And you want to have an impact in your niche. And you want your clients to prosper, etc., etc., etc., But the smartest business decisions get made when there is one governing priority taking precedence over all others.

One issue this leads to is that of “product.” One of the very few ways for consultants to gain “leverage,” and make money outside the box of billable work/projects, is through selling your clients useful products linked to your advice and expertise.

I strongly recommend developing products of your own to support your consulting activities.

Author: April Gregory 

Technorati Tags: business consulting, management consultants, marketing consultants

Anyone who works for an employer for a regular wage or salary automatically has a contract of employment, regardless of whether it is written or not. The majority of employees work under open-ended contracts of employment. In other words, the contract continues until such time as the employer or employee ends it.

Many other employees however, work under fixed-term or specified-purpose contracts which are contracts which end on a specified date or when a specific task is completed. The contract of employment will include some or all of the following elements (regardless of whether the employer and employee have specified them or not):

The terms that the courts say are in every contract of employment. Examples include the duty of every employer to provide a safe workplace and the duty of every employee to carry out the job to the best of his/her ability. This part of the contract is occasionally referred to as “common law”.

Terms that must be part of the contract as a result of laws passed. Examples include the right to take maternity leave. Such terms are part of the contract of employment even if the employer and employee do not specifically include them and replace any agreement between the employer and employee not to apply the particular law. So, the statutory right to take maternity leave overrides any agreement between the employer and employee that the employee will not take maternity leave.

Terms and conditions states must be in every contract, for example, the right of an employee to join a trade union.

Collective agreements

Joint Labor Committee Regulations

In addition, custom and practice in a particular workplace may form part of a contract. An example would be a particular level of overtime pay for employees.

In the case of these items instead of giving each employee the details in writing, the employer may refer an employee to other documents, for example, a pension scheme booklet or a collective agreement, provided that the employee has easy access to such documents.

The statement of terms must indicate the reference period being used by the employer for the purposes of the calculation of the employee’s entitlements under the Minimum Wage Act, 2000. (Under that Act the employer may calculate the employee’s minimum wage entitlement over a reference period that is no less than one week and no greater than one month).

The statement of terms must also inform the employee that he/she has the right to ask the employer for a written statement of his/her average hourly rate of pay for any reference period (except the current reference period) in the 12 months prior to the date of the employee’s request.

Note. Specific provisions in contract of employment
In recent times, some employers are adding in specific provisions in contract of employment that limit the ability of employees to work in a certain sector, with certain suppliers, clients, for a period following termination of employment. (For example, it may specifically state that the employee cannot work in a certain sector, with or for suppliers or clients of the former employer, etc.). There is nothing in employment law in that strictly forbids this, but there is no provision in employment law that allows this either.

Essentially, this is an issue of contract law - that is, the contract of employment signed and agreed between the employer and employee. If you have any concerns about this issue, you are strongly advised to seek legal advice from a competent legal professional in advance of signing this contract of employment. However, even if the contract of employment is signed, you are always free to seek such legal advice. Attorney fees can vary widely so shop around and obtain some quotes for legal advice before you proceed.

Note. Probationary period
The contract can include a probationary period and can allow for this period to be extended. The Unfair Dismissals Acts will not apply to the dismissal of an employee during a period at the beginning of employment when he/she is on probation or undergoing training provided that:

* the contract of employment is in writing
* the duration of probation or training is one year or less and is specified in the contract.

The above exclusion from the Acts will not apply if the dismissal results from trade union membership or activity, pregnancy related matters, or entitlements under the maternity protection, parental leave, adoptive leave and career’s leave legislation.

Changes to your contract of employment.

Changes to your contract of employment can occur due to a change in the law, but otherwise, changes must be agreed between your employer and yourself. The requirement for both the employer’s and the employee’s consent to changes in the terms of the contract is part of contract law.

From the above information you will see that the contract of employment is a very important document to have. Whenever you get hired, ensure that your new employer offers you this kind of security. Be cautious of employers who don’t give contract of employment.

Author: Abhishek Agarwal 

Technorati Tags: contract employee, employment rights, work employment

Buying a new home is always the dream of every one. You opt for mortgage loans when you don’t have the full cash for buying the home. There are a number of mortgage lenders to offer excellent service to satisfy all your mortgage needs. Special mortgage programs are also offered for assisting home buyers.

If you are familiar with at least some of the mortgage loan and contract terminologies, that can significantly aid your home buying process. If you need a mortgage to buy a new home, first you need to know about the different types of Mortgage Loans available. Conventional and government loans are the two main categories of mortgage programs.

Each mortgage programs can be classified as fixed rate loans, adjustable rate loans and hybrid loans. Since a variety of different loan programs are available, it is important to choose the exact type of loan that will best suit your needs based on the amount of monthly payment you can afford. You can deal with all your mortgage needs effectively using the following tips in order to buy your new dream home.

If you plan for getting mortgage for buying a new home, you must first order your credit report from credit reporting agencies and check it for errors. Then you must track the mortgage market and interest rate fluctuations. When the mortgage market and interest rate fluctuations are favorable, choose a mortgage plan that best suits your needs based on the terms of the mortgage such as the type of the mortgage, interest rate, prepayment penalties, high or low down-payment, lock-in period, payment schedule, mortgage insurance requirements, and many other features related to mortgage needs.

You must determine the type of mortgage you want to obtain based on also the total price of your new home and the down payment that fits your budget. Once you choose a certain mortgage program, you can start comparing interest rates of the same mortgage program provided by different lenders. Then you can decide the best mortgage lender for your situation.

Once you have chosen a certain mortgage lender, ask the mortgage lender to specify the essential documents that are required to provide the approval process. Make sure whether the mortgage loan application and the lock-in fees are refundable in case if your mortgage loan application gets rejected. Once your loan application gets sanctioned, you can continue with the further process of getting your loan amount for buying your home.

Once you get the Loan Approval Certificate, you must give details of the home you wish to buy and pay the booking deposit to your mortgage provider in order to get a Formal Loan Offer. You must thoroughly go through the loan offer along with your broker & solicitor. Once all the conditions given in the loan offer are satisfied, you have to sign contracts after 3-4 weeks. Finally your loan amount will be released from the mortgage provider or lender to your solicitor.

Mortgages are always available for all financial situations. You can choose the one that best fits your needs just by a little shopping and research. You can also get enough information from mortgage agents or brokers. The builder of the home you are willing to buy may also be able to recommend some mortgage companies.

By: Sharon Samraj

Technorati Tags: buying a home, mortgage calculator, mortgage leads, mortgage rates

It is an unfortunate truth that many people are facing foreclosure. While some may see no options available, a home loan modification is a very real possibility for many. This process is designed to change some of the terms in your home loan contract in order to reduce the monthly mortgage payment.

If this process is done properly it can help people who have been unable to make their monthly mortgage payments obtain a new payment that fits within their budget. These changes are possible because the bank does not want to deal with a foreclosure. If the homeowner defaults on the mortgage, the bank stands to lose money in the process.

Here are 5 steps that lead you through the mortgage modification process:

1. Discovery.

Understand the basic process involved with a home loan modification. Although the process seems difficult to many people, learning a little about the process lets a homeowner determine whether modifying their home loan is right for their situation. Understanding the process is valuable whether you handle the process yourself or hire a third party.

2. Decision.

If a mortgage modification is something you want to pursue, decide whether you are going to do it yourself or hire someone to help. If you do it yourself, continue learning about the process and consider a book or other resource to better understand how to work with your lender. If you decide to hire a company or attorney to help with the process, find a reputable person or company and ask plenty of questions to be sure they are the right “fit” for your situation.

3. Letter.

An important document for anyone interested in a loan modification is a hardship letter. This letter is typically required by all lenders. The letter should describe your financial hardship and why you need a change in the terms of your mortgage. If you are using a company or attorney, they can help you with this letter. If you are handling the procedure yourself, find a good resource that explains how to write this letter.

4. Communication.

Stay in contact with your lender (if you are handling the home loan modification yourself) or with the company/attorney you hired for assistance. Be sure you understand what documents are needed and provide them in a timely manner. Also, communicate regularly and be certain that you understand the next step in the process and what your task is for that step.

5. Patience.

The process can be frustrating and time consuming. Be patient and realize that lenders are handling many home loan modification requests, with new requests arriving daily. Be polite, even if the process seems to be moving slowly.

Following these steps will likely improve the overall process and increase your chances of receiving your desired mortgage modification.

By: Mark Winfield

Technorati Tags: mortgage lenders, mortgage rates, mortgages, wholesale mortgage

Unless you happen to be planning to establish a charitable, non-profit organization of some type, the main reason why you may be interested in starting a business is to make a living or build wealth from the endeavor. For many people, the desire to “be your own boss” and escape from the shackles of traditional employment is part of the motivation, but the bottom line usually comes down to wanting some form of business financial success so that you are not living from paycheck to paycheck.

One of the most important things that you will do in your quest to enjoy business related financial success is to have a clear, detailed, and realistic business plan that will lay out a map for your progress in your new business. A well-done business plan will include financial projections, working capital management objectives, cash flows analysis, industry and competition analysis, a profile to target customers or a specific audience, and an outline of organizational and asset management ideas.

One of the common errors that a lot of new business people make, which contributes greatly to the high failure rate of new businesses, is not having a clear and complete picture of the marketplace in which they plan to compete. Spending some advance time in analyzing the industry and collecting enough pertinent information will give the entrepreneur a much better idea of what is needed in order to forge business financial success in a given field.

In most cases, when someone is looking to start a new business, they will need some type of start up, working capital to see them through until the business starts to make enough money to be self-sustaining, as well as to be able to pay out salaries. Because a new business has no track record of any kind and no net assets or financial statements to submit for a loan, the only business financial information that the lenders will be able to evaluate is the entrepreneur’s personal credit and total assets.

Even if you have excellent credit and current assets that you can borrow against in order to take out a loan to get your business started, a loan officer will still require a detailed business plan from you. Without a thorough business plan, your aspirations are nothing more than wishful thinking and your loan application won’t get very far in the process.

The lenders will want you to prove to them that you have a knowledgeable understanding of the industry you wish to enter, as well as sufficient management knowledge to be able to successfully take your business from inception, through the growth phases and into stability.

When an entrepreneur is heavily engaged in establishing and growing their own business, there is no doubt that it becomes a very personal endeavor. But often this perspective is just “too close” to be able to make important decisions that can lead to business financial success. However, when someone has taken the time to research and map out a clear and detailed business plan, this can help to overcome the challenges.

Author: Mike Selvon 

Technorati Tags: business marketing plan, business planning, how to write a business plan

In the UK, if you are a legal recruitment agency, the most common candidate you will have approaching you is a law graduate or LPC graduate looking for paralegal jobs UK and eventually a training contract.

Unfortunately there are not enough training contracts to go around and most will have to resign themselves to either paralegal jobs UK in Personal Injury or Residential Property, or a change in career choice.

A student typically has to study for 3 years to get their law degree and then a further year full-time at a college of law to attain their LPC. This is expensive and many can find themselves heavily in debt with no promise of a training contract.

There is another option available at the University of Northumbria, of a 4 year course which exempts the students from the LPC. Given the current ratios of training contracts to LPC graduates one would have thought this option should be made more widely available.

Once the prospective Solicitors have gone through this expensive academic process they then have to hunt for that fabled pot of gold - the training contract. At present those who have not attained a 2:1 at degree level will find this extremely difficult.

Training contracts are now often awarded two years in advance and as legal practices can now pick and choose the best, experience as a paralegal is becoming important. This means it can often be 2 to 4 years after graduating that the successful law graduate actually starts their training contract.

Outside of London most paralegal jobs uk will start on between 15-20000 per annum and can over a number of years progress to between 20-30000 depending on the area of law in which they practice. So those who are heavily in debt after their LPC will see no immediate fixes to their financial obligations until 5-10 years down the line if they are able to secure a training contract.

Legal Clerks who had practised law but were not qualified were common twenty years ago. However, the competitive nature of Residential Property and Personal Injury law over the last 10 years has led towards the proliferation of the career Paralegal and Legal Executive. Legal practices can take advantage of the large number of legal graduates on the marketplace desperately seeking further experience to increase their chances of a training contract, and quite often the best place to start is a legal recruitment agency.

This move towards a move assembly line practising of the law in certain areas such as Conveyancing and Personal Injury is also spreading to other fields such as Wills and Probate, Immigration, Family and Crime; although it is more the nature of Legal Aid funding rather than the competitive nature of the marketplace which is driving these changes.

So what does this mean for our prospective law student? Well we can say for certain that to progress through a career in law is not for the faint hearted. This will be an expensive and demanding process in which only the few will be very well rewarded at the end.

It is worth at an early stage looking towards those areas of law which tend to pay better, such as Corporate and Commercial Law and Commercial Litigation. Or perhaps look at areas of law which are in high demand such as Insolvency, Construction and Charities and avoiding those which are reliant on an ever decreasing legal aid budget such as crime and family.

Author: Mischa Weston-Green

Technorati Tags: legal insurance, legal property, training contracts