Urabandai SS http://urabandai-ss.com/ Mon, 21 Nov 2022 15:46:32 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://urabandai-ss.com/wp-content/uploads/2021/09/cropped-icon-32x32.png Urabandai SS http://urabandai-ss.com/ 32 32 Are you ready to weather the economic storm with agile working capital management? – ERP today https://urabandai-ss.com/are-you-ready-to-weather-the-economic-storm-with-agile-working-capital-management-erp-today/ Mon, 21 Nov 2022 15:46:32 +0000 https://urabandai-ss.com/are-you-ready-to-weather-the-economic-storm-with-agile-working-capital-management-erp-today/

As central banks battle the highest inflation rates in forty years, interest rates continue to rise rapidly, highlighting an area of ​​finance that has been overlooked for many years. ; cash forecasting and working capital management.

But after decades of incredibly low financing costs for businesses, swings in interest rates and savings are bringing liquidity back into the spotlight.

Cash and Liquidity Management

Rising funding costs mean CFOs need to find new ways to understand and micromanage their cash and liquidity, and a sea change in mindset is needed. In my conversations with finance leaders, many say they don’t have access to the up-to-date data they need to do accurate cash forecasting or working capital planning. It is not uncommon for the available data to be several weeks old. You can’t do much with old data, especially in today’s rapidly changing environments.

For the foreseeable future, you must be prepared to manage liquidity and cash flow with great precision so that your business can understand the impact of inflation, act quickly and be ready for what comes next.

How prepared are you today?

To understand how you’re doing with managing your cash and working capital, take the following self-assessment quiz.

How confident are you in your cash and liquidity forecasts? Are you able to easily include real-time data and the impacts of changing sales and commodity prices in your forecasts?

Few CFOs and Treasurers will say yes based on my conversations with them. The reality is that most liquidity forecasting is done in spreadsheets and it takes them days or even weeks to gather the necessary data from across their entire business. So, by the time they report and forecast, the data is outdated and the analyzes are no longer accurate.

Using disparate spreadsheets not only means you’re working with old data, it also hampers your ability to see and understand the impact of external factors such as rising interest rates on your ability to take critical business decisions.

What’s needed is a way to get information about the various risks, exposures, and true values ​​into a single financial system so you can manage working capital optimally.

For example, a unique system would allow you to prepare for rising commodity prices by predicting future cash flows. This would allow you to know your currency and interest rate exposures so that you can effectively execute hedging strategies.

An integrated financial system can also help you balance risk, inventory management, and customer service to help you manage your goals. Finally, and most importantly in these uncertain times, you can uncover savings opportunities with real-time enterprise-wide purchasing and supply chain insights.

How easily can you find and unlock cash tied up in your business and supply chain?

Without effective working capital management tools and processes in place, it is not easy to find and free up cash tied up in the business and supply chain. The ability to act quickly on pressing business events or CEO and CFO opportunities is more important than ever, yet most companies are unprepared to do so. Having visibility into your entire cash conversion cycle is a good starting point for you to make informed decisions.

How prepared are you to handle what’s next in our ever-changing and unpredictable world?

To be prepared, you need the agility to react quickly and effectively to forward-looking information and forecasts. This requires having the right strategy, the right tools (like a flexible working capital management platform that provides a centralized view of liquidity and scenario planning functionality) and the right processes to manage the impacts of proactive manner.

Is there CFO leadership to establish cross-company working capital management goals and aligned strategy?

Cash and working capital management is a cross-company effort. Think of it as a team sport that requires strong CFO sponsorship. Only the CFO can break down the layers of service denial on data sharing and work with stakeholders to determine what to prioritize and what strategy and goals to set. If you leave it all up to different departments to figure out, you’ll end up with conflicting goals and a misaligned strategy, something no business can afford anymore in times of high cost of liquidity and uncertainty.

So how did you do?

Were you able to answer all four questions? If you could, great, that means you’re in the minority today, and that’s a good place to be. If not, know that you are not alone. The good news is that solutions are available to help you take care of your cash flow and working capital. One thing is certain, liquidity will remain a priority for businesses today, especially in the context of an upcoming recession. So there has never been a better time to focus on this area.

If you want to learn more, I invite you to watch this panel discussion on Outsmarting Inflation: Best Practices in Working Capital Strategies where I discuss with other thought leaders on the subject.

Construction of Broadgate flood defenses begins https://urabandai-ss.com/construction-of-broadgate-flood-defenses-begins/ Mon, 21 Nov 2022 07:00:00 +0000 https://urabandai-ss.com/construction-of-broadgate-flood-defenses-begins/
Councilors Robert Boswell (left) and Carol Henshaw (right) visited the Preston and South Ribble flood risk management program

Work has begun on the construction of vital flood defenses along Broadgate and Riverside.


On Friday 11 November, the advisers visited the Preston and South Ribble Flood Risk Management Program for an update on the progress of the work.

Preston Councilors Carol Henshaw and Robert Boswell met with the Environment Agency and contractors VolkerStein to witness the groundbreaking at the site.

Construction of the first phase of the new £54.7million scheme has begun with preliminary works to reinforce sewers and divert services along Broadgate. Work has now started on the defenses with piles for the foundations of the flood walls.

The flood program will help reduce the risk of flooding for approximately 5,000 homes and businesses along the River Ribble. Construction of the first phase is expected to be completed by the end of 2024.

Read more: Update given on flood defenses at Penwortham Caravan Park and Golden Way

As part of the scheme, improvements will also be made to Broadgate Gardens, including pollinator-friendly flowers, better seating and the planting of fruit trees.

Some trees had to be felled to make room for construction work and to prevent the new defensive walls from being undermined by tree roots. However, over 16,000 new trees will be planted as part of the project, including 13,000 trees at Fishwick Bottoms along the river.

Disruption to the local community will be minimized where possible and any road closures, detours and changes to parking will be communicated to residents in advance. Noise and vibration monitors will be in place during the work.

Read more: Traffic proposals could introduce 20mph speed limits in the Ringway area to improve safety

Councilor Carol Henshaw, who represents and lives in the inner city district and is a cabinet member for climate change, said: ‘It was helpful to discuss what is happening with the flood scheme. I am relieved that the flood defenses are now underway and will better protect residents when completed.

“I am happy that glass panels are used in certain areas so that residents can continue to see and enjoy the river.

“I am also pleased to hear that a small orchard will be included in the improvements to Broadgate Gardens which will benefit the community.”

Read more: See the latest news and headlines from Preston

Shark Tank Season 14 Episode 7 Companies and Products https://urabandai-ss.com/shark-tank-season-14-episode-7-companies-and-products/ Sat, 19 Nov 2022 06:24:10 +0000 https://urabandai-ss.com/shark-tank-season-14-episode-7-companies-and-products/

First in the tank this week on Shark Tank are entrepreneurs from West Palm Beach, Florida who guarantee their artisan cheese and charcuterie board delivery business will impress and be the perfect party favor for any event. Los Angeles Entrepreneurs Showcase Their Line of Subscription Products Designed to Keep Cars Cool and Vibrant While Driving; while brothers with an affinity for action sports from Traverse City, Michigan hope to lead the way with their sleek sports equipment lighting kit designed to keep people safe at night. Last into the Tank is a St. Clair Shores, Michigan entrepreneur who delivers the ultimate shaving experience with their all-in-one solution designed to refresh and improve all shaving needs.

The Sharks in this episode are Mark Cuban, Kevin O’Leary, Lori Greiner, Barbara Corcoran and Robert Herjavec.

Boarderie is the first company in the world to ship deli-grade, pre-arranged cheese and charcuterie boards directly to customers’ doorsteps, nationwide. Boarderie’s team of experts spent 20 years in fine dining hospitality and special events before the pandemic forced them to pivot. Two years later, they’re defining a whole new category in edible gifts and e-commerce catering with perfectly matched, impeccably sourced pasture displays that are deliciously simple to send. After two record-breaking first years and a feature on Oprah’s Favorite Things 2022, they’re just getting started!

Mount FRSH
Ride FRSH is a unique and stylish car air freshener brand that is dramatically improving the industry. With our monthly subscription, exclusive licensed products and a selection of super sweet fragrances, we’ve changed the experience behind buying and using car air fresheners!

action glow
ActionGlow is an innovative LED lighting system that can be applied to any brand of sports equipment. With apps for snowboards, skis, surfboards, longboards and more, ActionGlow is pioneering a whole new way to participate in action sports after the sun goes down.

Legacy Shave
Legacy Shave innovation and patents will change the global shaving industry. With an idea they had more than 28 years ago with their father, brothers Mike and Dave brought this invention to market, patented this idea and named their company in honor of their father and the legacy with this idea…hence the name Legacy Shave. Legacy Shave is a modern shaving brush for modern times. Same benefits as your grandfather, but modernized to work on most spray cans. Working with foam and gel shaving boxes, even up to travel sizes, the Legacy Shave customer now enjoys a salon shaving experience in the comfort of their own home on every shave while saving money. time. Closer shave with less mess and waste. Legacy Shave changes everything you hate about shaving and makes a great gift for any occasion.

Governor Ivey announces $47 million for National Fish and Wildlife Foundation projects in Alabama https://urabandai-ss.com/governor-ivey-announces-47-million-for-national-fish-and-wildlife-foundation-projects-in-alabama/ Thu, 17 Nov 2022 20:12:57 +0000 https://urabandai-ss.com/governor-ivey-announces-47-million-for-national-fish-and-wildlife-foundation-projects-in-alabama/

MONTGOMERY- Governor Kay Ivey announced Thursday that the National Fish and Wildlife Foundation (NFWF) recently approved five new projects in Alabama totaling more than $47 million. The announced projects were selected for funding after extensive consultation with the Alabama Department of Conservation and Natural Resources and federal resource agencies.

The projects are:

Restoration of the eastern end of Dauphin Island — Phase II


Gulf Uplands Conservation Acquisition—Amendment


Lower Fish River Watershed Restoration — Phase II


Wolf and Sandy Creek Headwaters Restoration – Phase II


Alabama Coastal Adaptive Management



These projects are the last financing obligations of the Gulf Environmental Fund (GEBF) for projects in the state of Alabama, bringing its total grants from the fund to more than $356 million. This announcement concludes 10 years of restoration funding undertaken by NFWF to support projects in Alabama following the 2010 Deepwater Horizon tragedy.

“As we celebrate Alabama’s 2022 NFWF slate of projects and announce the final allocation from Alabama’s share of the Gulf Environmental Benefits Fund, we recognize another milestone in Alabama’s recovery. after the Deepwater Horizon oil spill disaster”, said Governor Ivey. “The $356 million awarded to Alabama in criminal fines, administered by the NFWF, funded some of the first Deepwater Horizon restoration projects implemented on the Alabama coast.

“Together, these investments tell a story of significant accomplishments that will go a long way towards protecting Alabama’s diverse coastal ecosystem for decades to come. Whether it’s our investments in maintaining coastal reefs that support our thriving red snapper fishery, or our land conservation efforts to protect game and non-game species in places like the Perdido River Corridor , the Fort Morgan Peninsula and the Grand Bay Savannah, there is no doubt that Alabama has made the most of these funds.

“I thank the National Fish and Wildlife Foundation for its partnership and dedication to restoring and protecting Alabama’s natural resources, and for its skilled and dedicated stewardship of the Gulf Environmental Benefit Fund,” added Governor Ivey.

“While this marks the completion of our allocation of the NFWF portion of the BP Settlement, our work continues to restore the Alabama coastline. I want to thank Conservation Commissioner Chris Blankenship, DWH Restoration Coordinator Amy Hunter, and the team at the Alabama Department of Conservation and Natural Resources for the work they continue to do for citizens and the natural resources of coastal Alabama.

Over the past decade, NFWF investments have contributed significantly to the long-term sustainability of Alabama’s critical coastal resources, including:

  • Nearly 9,000 acres of important habitat acquired, conserved, restored or enhanced
  • Nearly 11 miles of vulnerable shoreline protected
  • Improved water quality with three miles of stream restoration that will prevent 50-70 million pounds of sediment per year
  • Over 250 acres of artificial reef habitat and thousands of artificial reefs installed to improve fish productivity
  • Sustainable fisheries management through sound science and monitoring
  • Improved capacity and habitat to boost populations of coastal birds, marine mammals and sea turtles
  • Restoration of over 800 acres of oyster reef habitat

An interactive story map of Alabama’s GEBF-supported projects is available here.

Since its inception, the GEBF has supported 47 natural resource projects in Alabama and worked with 39 implementing partners. These projects leverage or complement nearly $200 million in other funding for a total conservation impact of over $555 million for natural resources negatively affected by the 2010 oil spill.

“Today’s announcement represents the culmination of historic investments in conservation in Alabama following the Deepwater Horizon tragedy,” said Jeff Trandahl, Executive Director and CEO of NFWF. “Working closely with the Alabama Department of Conservation and Natural Resources, we have made strategic investments that support fish and wildlife and their habitats. These projects will continue to improve the productivity and resilience of coastal Alabama for decades to come.

Among the many accomplishments that have been made or are underway, NFWF and its partners have made strategic investments to protect and enhance strategic habitats, improve shoreline resilience, restore watersheds, and improve fisheries habitats and science. . Collectively, these investments will have a lasting impact on the Alabama coast for decades to come. Broadly, these investments have included:

Strategic habitat protection

GEBF has invested more than $100 million in 12 projects in Alabama to acquire and permanently protect approximately 7,500 acres of important coastal habitat. Through their inclusion in existing public conservation lands, these lands will provide expanded public access to this impressive suite of properties along the Alabama coast. These properties are now managed to remove invasive species, restore native flora and improve ecological function.

Conserve Alabama’s Barrier Island

Dauphin Island is Alabama’s only barrier island and one of the largest on the Gulf Coast, spanning 14 miles. It provides valuable wildlife habitat and protects important Mississippi Strait resources while maintaining the ecological conditions (salinity) in the Strait that are essential for its fisheries, oysters and seagrass beds. The island is also an important stopover area for trans-Gulf migratory birds and provides habitat for many beach-nesting birds. Often prone to significant severe weather events, the long-term restoration and resilience of Dauphin Island has been the focus of key targeted investments under the GEBF. Guided by a GEBF-funded restoration plan, the NFWF has awarded nearly $50 million in GEBF funds to nine projects aimed at improving and protecting this vital island.

Improving coastal resilience through shoreline restoration

Annual loss of riparian habitat on the western shore of Mobile Bay has averaged over two feet in some areas. Since 2001, more than 11% of the total shoreline area has been lost due to erosion caused by storms, shipping traffic and natural degradation. Investments in coastal protection and wetland restoration are key to restoring and improving the ecological function of these critical habitats, and they also represent a nature-based approach to protecting coastal communities and infrastructure. Nearly $120 million of GEBF funds to support shoreline restoration also leveraged more than $20 million of NFWF Coastal Resilience Funding to strengthen Alabama’s natural defenses and improve coastal water ecology. .

Watershed restoration

The degradation of watersheds and coastal waterways has coincided with significant growth in the region in recent decades. GEBF investments in watershed planning by the National Mobile Bay Estuary Program have been instrumental in identifying and prioritizing the most cost-effective restoration activities to improve water quality along on the side. Projects that improve water quality by reducing sediment and nutrient loads have significant benefits for wetland habitats, submerged aquatic vegetation, oyster reefs and other marine species.

GEBF funding also strengthened a long-standing partnership with the U.S. Department of Agriculture’s Natural Resources Conservation Service to work with farmers and ranchers on the Alabama coast to implement easements of conservation and best management practices worth more than $14.5 million on more than 30,000 acres to improve water quality and improve habitat.

Strengthening Alabama’s Fisheries

The GEBF has invested more than $44 million in Alabama to boost fish populations through habitat creation and improved monitoring and management. Monitoring fish populations in Alabama has produced a wealth of data that informs the management of vital fisheries of commercial and economic importance. This investment has also increased scientific capacity that will endure. GEBF investments have also created more than 1,000 acres of reef habitat in Alabama, including 800 acres of nearshore oyster reef and 250 acres of nearshore and offshore artificial reef habitat suitable for red snapper and dartfish. other offshore reef species.

For more information on coastal restoration projects in Alabama from all Deepwater Horizon funding sources, please visit https://www.alabamacoastalrestoration.org.


Reforms needed as number of debt collection cases in Michigan rises https://urabandai-ss.com/reforms-needed-as-number-of-debt-collection-cases-in-michigan-rises/ Thu, 17 Nov 2022 01:27:00 +0000 https://urabandai-ss.com/reforms-needed-as-number-of-debt-collection-cases-in-michigan-rises/

Law360 (November 16, 2022, 8:27 p.m. EST) — Debt collection lawsuits “dominate” Michigan’s civil court system and the state should do more to help debtors defend themselves in court, a lawsuit said Wednesday. Michigan Supreme Court.

The study also found racial disparities in debt collection cases and said Michigan trails its peers in consumer protection during the debt collection process.

The report by the Michigan Supreme Court’s Justice for All Commission found that debt collection cases accounted for 37% of all civil court filings in state district courts in 2019, the most recent year for which the data was analyzed. It was the second most common type of case after trafficking cases.

Growth in the volume of debt collection lawsuits in recent years “has been driven almost entirely by corporate debt buyers,” the commission found.

Third-party debt-buying companies are increasingly the plaintiffs behind debt collection lawsuits in Michigan courts and are responsible for 60% of debt collection filings, according to the report. The top three filers by volume in recent years have been third-party debt buyers: Midland Funding filed 20% of Michigan debt collection cases from 2017 to 2019, Portfolio Recovery Association 12% and Jefferson Capital Systems 8.8%, according to the Commission.

The tendency for debt buyers to sue presents “unique concerns,” the commission wrote, because consumers do not have a direct relationship with the debt buyer. When contacted by a debt buyer before or during legal action, a consumer may not recognize the name of the business, may believe that the debt buyer’s communications are a scam, and may ignore attempts. recovery and court documents until it is too late and a default judgment is rendered. . Default judgment is the result in 68% of Michigan debt collection cases, usually because the defendant has failed to respond, according to the study.

Looking at geographic data, the report found that two to three times as many debt collection lawsuits are filed against consumers in majority black neighborhoods compared to majority white neighborhoods at all income levels.

“More information is needed to understand the reasons for these disparate deposit rates,” the commission said, pointing to possible responses to racial disparities in access to low-interest credit and generational wealth disparities that mean black debtors are less likely to be able to get help from a family member to repay a loan.

Compared to neighboring states, Michigan also has more lenient pleading requirements for a debt collector to file a claim in district court, according to the report. Applicants only need to provide an account number and balance owing, with no requirement to provide documentation supporting the amount owed or proving ownership of the debt, unlike in Illinois, Indiana, and Minnesota.

“Other states in the region require documentation such as the original agreement or a monthly billing statement showing that the defendant used the account in question, the balance owing with charges and interest broken down, and documentation showing the chain ownership of the debt if it were sold to a debt buyer,” the report said.

Less than 0.5% of defendants in debt collection cases had legal representation, according to the report, while 96% of plaintiffs were represented by a lawyer.

The debts at issue included all non-mortgage consumer debt, including amounts owed on credit cards, auto loans, medical bills and payday loans. The median amount sought in debt collection lawsuits was $1,600 in 2018-19, according to the study.

After the default judgment is issued, judges will grant garnishment in 78% of cases, most often on state tax returns, but also on wages, bank accounts and other income.

The fact that so many cases end in default judgment, with serious consequences such as wage garnishment, raised red flags for the commission about “whether consumers actually received proceedings, whether the complaint and the summons provided meaningful and understandable notice to consumers of the claims against them, and whether consumers understood” the legal process.

The commission recommended a series of policy changes that would give defendants more time to serve notice of prosecution and expand options for mail and alternative methods of service; increase the amount of information a complainant is required to include in the complaint; and revising court forms to make them easier to understand for self-represented litigants.

“This groundbreaking research will help us improve the way trial courts handle debt collection cases to make the process easier to navigate and more fair, efficient and consistent,” said commission chair, the Michigan Supreme Court Justice Brian Zahra in a statement accompanying the release of the report. .

The commission also said it would work on pilot programs offering alternatives to litigation, describing debt collection lawsuits as a costly and time-consuming “lose-lose-lose” situation for creditors, consumers and the courts.

“With debt collection representing a substantial and growing portion of caseloads, this work is a critical step toward our goal of a civil justice system accessible to all,” said commission vice chair Angela Tripp. director of Michigan Legal Help.

Tripp called on “other branches of government” to also take action to address the issue of debt collection practices.

The report was compiled with help from The Pew Charitable Trusts and data advisory firm January Advisors.

–Edited by Jill Coffey.

For a reprint of this article, please contact reprints@law360.com.

Work abroad ? Try these smart tips for managing relationships https://urabandai-ss.com/work-abroad-try-these-smart-tips-for-managing-relationships/ Tue, 15 Nov 2022 07:00:00 +0000 https://urabandai-ss.com/work-abroad-try-these-smart-tips-for-managing-relationships/

The phenomenon of working from home continues to be one of the most interesting events in the history of human labor.

The WFH had its big push as a “let’s not spread the germs” tactic at the start of the Covid pandemic. Many people assumed it would be a short-lived accommodation to “science” and that workers would be eager to get back to the office.

It didn’t work that way.

Turns out, people love the flexibility of remote work. They reconnected with friends and family in a way that was not possible before with the 9 to 5 grind. No one seems to miss the daily commute to the office. And to the surprise of managers, teleworkers are in many cases more productive than before.

Because remote work is likely to stay, leaders need to do the heavy lifting to evangelize ways to, well, make work work.

While much of the conversation revolves around the incredible tools available to remote teams, what matters most is how relationships are managed.

McKenna Sweazey offers a boatload of good ideas in her book How to win friends and manage remotely.

Her credentials certainly qualify her for the task. As an accomplished global leader in both business and start-ups, she has honed her people skills on Skype, Google Hangouts, Slack, traditional phone lines and now Zoom. She was head of global marketing at the revered Financial Times. Today, she is a marketing strategy consultant for brands in the United States and Europe.

Rodger Dean Duncan: The importance of empathy in the workplace, especially in a virtual workplace — attracts attention. In this context, you write that “emotions literally make us dumber”. Please explain.

McKenna Sweazey: We lose our ability to engage in deep thought when we experience negative emotions. When we sense danger, our bodies prime us to go into fight, flight, or freeze mode so we can protect ourselves. The prefrontal cortex, the part of our brain responsible for reading, math, and other deep thinking tasks, is on pause. While getting that email from your mother-in-law or Slack from your boss isn’t the same as encountering a predator on the savannah, some of the same principles apply. Your innate survival response mechanisms activate.

Duke: Many leaders are good at things like strategy and giving direction, but less good at listening. How can they improve?

Sweazey: In my own informal research on good listening, the outcome of good listening for most people is pretty unanimous – they consider Ask insightful questions a superior characteristic of a good listener.

Of course, if you take a moment to analyze this idea, it’s not exactly listening when you ask questions back. Leaders can use this opportunity to show that they are absorbing and reflecting on what they hear.

Great leaders use questions to help their team and show they are listening. For some, this may require practical questions to move to the next strategic steps in the discussion. But for some, it will require emotion-based questions, “How did that make you feel?” or questions that change perspective, “Does everyone involved see it that way?”

Duke: In a virtual workplace, what can people do to lessen dehumanization and the perceived distance between them and their work colleagues?

Sweazey: The best way to decrease dehumanization is to increase the possibilities of context. Context means knowing your colleagues beyond their work product. It could be insight into how they approach problem solving, or it could be more background in their home life. Team-building experiences that allow everyone to share more complex aspects of their personality – whether it’s a Myers-Briggs personality test, competitive escape rooms, or face-to-face encounters – are great for providing that context that can then be tapped into and used when tracing the day-to-day efforts of a team.

Duke: What tips do you have for reducing “zoom fatigue” and helping people connect in a more human way when using technology?

Sweazey: The first thing we can all do is reduce our dependence on Zoom. This may mean going back to the phone, which is preferable for many 1:1 calls due to our rich auditory processing capabilities.

We also want to reduce our reliance on meetings in general, by finding ways to work asynchronously, which has the added benefit of allowing us to benefit from the flexibility of remote working.

The second big thing anyone can do is recognize what triggers “Zoom fatigue,” whether it’s a specific type of meeting or time of day. When we know our triggers, we can modify our schedules to avoid this situation or make changes to the workspace to make these blocks of time more dynamic, such as a standing desk, going to the office on these days or scheduling a session front workout to boost our energy.

Duke: How can a leader help foster a positive and productive culture with a virtual team?

Sweazey: Culture affects many aspects of our workday: the time people start working, what we share with our colleagues, and the degree of formal communication. This all happens over email, video conferencing, Slack, water cooler, etc.

It is helpful to codify common tools and etiquette in a culture manual to give colleagues a concrete understanding of the impact of culture on daily life. For example, understanding and creating structure around how culture unfolds in Slack channels and their memes or the start time of the day are easy ways to state a virtual norm.

But second, as people feel safer, getting back together in person is absolutely necessary. Effective remote organizations must have experiences in person. Creating shared memories and opportunities to bond allows all parts of an organization to connect with empathy. Management‘s goal is to ensure these experiences are memorable and enjoyable enough to be sustainable once the team is back in their home offices.

Duke: Team building and skill building are always important, and they’re especially challenging in a virtual workplace. What advice can you offer?

Sweazey: Team building should encompass more goals in a virtual team, from casual general get-togethers to intense bonding. Managers should ensure that throughout the year they create a variety of situations for colleagues to get to know each other, to give everyone a diversity of context to better understand their peers.

Bonding experiences should meet the needs of different types of employees, from Gen Z to baby boomers, introverts to extroverts, incumbents to new hires, and more. How do you make small talk easy for people who hate small talk? You need situations that take people just a little bit out of their comfort zone. This is why competition works so well, like escape rooms or other virtual games.

Duke: Feedback can play an important role in a person’s personal and professional development. But if mishandled, it can do all kinds of damage. When people are working remotely, what are the keys to giving and receiving feedback in ways that build trust and competence?

Sweazey: Because you often have to schedule time to give someone virtual feedback, it takes on a different weight. It may seem more serious because it is less spontaneous. Additionally, the time lapse between action and feedback can allow the receiver to simmer in anticipation or worry that the giver has been thinking about these criticisms the whole time. Finally, because we don’t give face-to-face feedback, the medium feels less intimate and, therefore, less safe.

The best way to mitigate these changes is to make feedback a routine part of every one-on-one meeting. Repeating the behavior implies that it is a necessary and useful part of the job, not a punishment. And if managers practice giving feedback calmly, comprehensively, succinctly, and with concrete opportunities for improvement, it will be easier for the recipients to use the feedback to improve.

Duke: What can we all do to improve our overall digital empathy?

Sweazey: It is crucial that we prioritize our digital relationships and workplace connections. This can be a follow up when you think something is wrong with a coworker because of a flash of facial expression or a change in their Zoom behavior, like a newly turned off camera, to give you a loop of feedback to improve your recognition of feelings.

And it’s also up to each of us to be more explicit and let our colleagues know, in their comfort zone, what’s going on in their life outside of work. If we help our colleagues see us as the complete picture and give them more context, it will be easier for them to do the same. Ultimately, this context makes it easier for us to use our digital empathy and better understand each other’s points of view.

Achieve predicts moderate spending on gifts and travel for the 2022 holiday season https://urabandai-ss.com/achieve-predicts-moderate-spending-on-gifts-and-travel-for-the-2022-holiday-season/ Mon, 14 Nov 2022 20:00:00 +0000 https://urabandai-ss.com/achieve-predicts-moderate-spending-on-gifts-and-travel-for-the-2022-holiday-season/

Only 14% of US consumers say they set aside savings for holiday shopping.

SAN MATEO, Calif., November 14, 2022 /PRNewswire/ — Americans plan to take a restrained approach to gifts, travel and other spending this holiday season, a sentiment boosted by economic concerns over inflation, rising interest rates interest, layoffs and the threat of a looming recession, according to a new report by Reachthe leader in digital personal finance.

The 2022 Season Expenditure Reportpublished by the Achieve Center for Consumer Insights, found that 69% of American adults plan to cap their gift spending at $500 this year, while 14% said they had no intention of buying gifts. The report also found that only 14% of Americans say they have separate savings for vacation-related expenses, while one in five consumers wish they had created a dedicated vacation savings plan.

“While most Americans are planning limited travel this year, many still wish they had done a better job preparing financially for the holiday season,” said the co-founder and co-CEO of Achieve. Brad Stroh. “The large gap between consumers making holiday savings plans is particularly concerning, given that household debt is at peak levels and growing.”

The data and conclusions of the 2022 Season Expenditure Report are based on an online survey of 1,000 U.S. consumers ages 18-65, including a statistically significant sample of Gen Z adults. Data is representative of Census Bureau benchmarks of the U.S. population for the age, sex, race and ethnicity.

Stay home for the holidays

Nearly half of respondents plan to celebrate the holidays at home this year, while 28% say they have no plans at all. Of those who will travel, most plan to stay in the United States, usually to visit family. Respondents whose annual household income is greater than $100,000 are nearly three times more likely to take national holidays this holiday season than those with incomes below $100,000. The report also found that feelings about gifts vary by age, gender and relationship status.

  • Women were about twice as likely as men to say they put a lot of effort into choosing gifts.
  • Men were almost three times more likely than women to say they like giving away tech gadgets.
  • Baby boomers were the most likely to say they dislike giving gifts, while millennials and Gen Z were the most likely to say they were generous and caring.
  • Married respondents were more likely to consider themselves last-minute shoppers than single, engaged/living with a partner, or divorced/widowed consumers.

“Finances are a significant contributor to holiday stress,” Stroh said. “But consumers who stick to their budget and focus on their priorities this season will get through the holidays with less stress and potentially more money in their bank accounts.”

Holiday Payment Trends

Consumers plan to use a combination of methods to pay for holiday spending on gifts, new outfits, food and entertainment. Most will rely on available funds accessed from their bank accounts, supplemented by credit card spending. Although the overall use of paper checks is minimal, a surprising 9% of Millennials expect to use them, compared to only 4% in each of Gen Xers and Baby Boomers. Other payment methods, such as payday loans and money orders, play a much smaller role in most consumers’ holiday shopping.

  • While freebies can be moderate, 20% of respondents said they expect their credit card debt to increase by $1,000 or more during the holidays.
  • Gen X (5%) and Gen Y (6%) expect they will need the most help managing their vacation debt. Separately, 65% of baby boomers — the highest proportion of any generation — believe they will keep their spending under control.
  • Among those who expect to accumulate more than $5,000 In the case of holiday credit card debt, 17% think they will need outside help to settle their debt. Conversely, only 2% of consumers who plan to add less $500 credit card balance believe they will need the same kind of help.

Tips from Achieve: 5 Steps to Building a Holiday Budget

Many people resist making a budget because they think it only serves to limit spending. Instead, think of your budget as a tool that helps direct spending to the things that are most important to you. Any good budget is based on setting priorities and setting realistic goals.

  1. Figure out how much you can spend this year without incurring unnecessary debt.
  2. Carefully consider and list everything and everyone you plan to spend money on during the holiday season. Include gifts, greeting cards, decorations, holiday meals and year-end gratuities for service providers. Finally, don’t forget about future travel expenses, even if you’re only traveling across town to visit loved ones.
  3. Then start listing gift ideas and include prices. You may need to modify the gifts you want to buy to avoid going over your budget constraints.
  4. If the budget seems tight, but you don’t want to take someone off your gift list, the gift of time can mean so much more than a wrapped gift.
  5. Remember what your vision of vacations is and that vacations were never meant to create financial stress.

About the Achieve Consumer Information Center

The Achieve Center for Consumer Insights is an ongoing initiative that leverages Achieve’s team of digital personal finance experts to provide a view into the state of consumer finances. In addition to sharing insights drawn from Achieve’s proprietary data and analysis, Achieve’s Consumer Insights Hub publishes in-depth research, tailored data and thoughtful commentary in support of Achieve’s mission. Achieve to help everyday people borrow and stay on the path to a better financial future.

About Reach

Reach is the leader in digital personal finance. Our solutions help everyday people engage and stay on the path to a better financial future, through innovative technology and personalized coaching. Leveraging proprietary data and analytics, our solutions are tailored to every stage of a consumer’s financial journey and include personal loans, home loans, debt relief, and financial tools and education. . Based at San Mateo, CaliforniaAchieve has more than 2,700 dedicated employees across the country with centers in California, Arizona and Texas and has consistently been recognized as a better place to work.

Achieve and its affiliates are subsidiaries of Freedom Financial Network Funding, LLC, including Bills.com, LLC d/b/a Achieve.com (NMLS ID #138464) Equal Housing Lender; Freedom Financial Asset Management, LLC (NMLS ID #227977); Freedom Resolution (NMLS ID #1248929); and Lendage, LLC d/b/a Achieve Loans (NMLS ID #1810501), Equal Housing Lender.


Inventory management issues impact working capital https://urabandai-ss.com/inventory-management-issues-impact-working-capital/ Mon, 14 Nov 2022 15:04:38 +0000 https://urabandai-ss.com/inventory-management-issues-impact-working-capital/

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The the largest public companies in the United States may have reached the limits of their ability to stretch payment terms with suppliers in mid-2022, as they navigated inventory management in the face of high levels of uncertainty, according to the second quarter 2022 update of the Working Capital Survey conducted by The Hackett Group, Inc.

After a slowdown in the growth of days unpaid (DPO) over the last two quarters, the DPO decreased by 1.1% (from 56.5 to 55.9 days) in the second quarter of 2022. This indicates a shift in the leverage to sellers, driven by supply chain bottlenecks, inflationary pressures and geopolitical risks, among other issues.

“This is the true definition of an inflection point and a trend that is set to continue,” says Shawn Townsend, Principal of The Hackett Group. “Buyers have become more concerned with assurance of supply and have had to become less prescriptive about how they receive goods and services. Additionally, while supply chain finance remains popular, buyers are more focused on using it to stabilize and strengthen the supply base than to extend payment terms.

From BusinessWire:

  • Days In Stock (DIO) remained virtually flat over the period, rising only 0.1% (staying at 46.5 days).
  • The number of days outstanding for sales, the third major component of working capital performance, also remained broadly stable during the period, decreasing by 0.1% (to remain at 40.1 days). These three elements of working capital combined to result in a 2% increase in the cash conversion cycle (CCC).
  • Operationally, revenue continued its meteoric rise in the second quarter, growing nearly 20% (4-5 times what was seen before the pandemic). Free cash as a percentage of revenue is down nearly 30% and back to pre-pandemic levels, signaling companies are using cash hoarded during the pandemic to pay down debt in anticipation of further interest rate hikes .

“We had seen an atypical improvement in DIO over the past year, which seemed to indicate that businesses had learned lessons from the pandemic. But businesses are still grappling with huge uncertainty and maintaining the inventory line in this environment is actually a big win,” says Hackett Group Director Istvan Bodo.

“The headwinds will clearly continue to persist for the foreseeable future, and working capital management discipline, planning and foresight can play a key role in helping businesses succeed,” says Townsend. “Inventory management presents one of the biggest conundrums for businesses today. It is critical for businesses to ensure they can quickly recognize and respond to changing demand signals. Regarding receivables, companies should continue to review the credit and collection management process, as well as payment terms and contractual milestones.With suppliers, improving supplier management is essential.The criticality of suppliers, competition for resources and availability of supply may warrant revisiting sourcing, location and working capital strategies.Contingency planning is also becoming increasingly important, including the integration risk in the cash/cost/service equation.

“Now is not the time for companies to slow down when it comes to working capital and cash flow management. Smart business leaders will double down on their working capital health management capabilities – increasing their visibility into key metrics, better sharing information across functions and automating processes – to enable agility in a context of continuous change,” adds Townsend.

How product co-creation studio FirstBuild is changing the way new things are made – TechCrunch https://urabandai-ss.com/how-product-co-creation-studio-firstbuild-is-changing-the-way-new-things-are-made-techcrunch/ Sun, 13 Nov 2022 19:41:13 +0000 https://urabandai-ss.com/how-product-co-creation-studio-firstbuild-is-changing-the-way-new-things-are-made-techcrunch/

Crowdfunding, crowdsourcing and small-batch production for the win

If you are in charge of R&D at a major manufacturer of household appliances, you have a challenge to meet.

You typically produce products in huge quantities with pretty slim margins. In order to recoup your development, tooling, and launch marketing costs, you must create and sell a large number of products. To make sure this is possible, you’ll probably end up doing a bunch of user and market research to make sure you have the best chance of success with your products.

It makes sense, but the business model itself means it’s hard to do anything really risky, which means traditional manufacturers rarely come up with anything truly innovative.

If there was a mushroom fruiting device, would many more people regularly grow mushrooms at home? There was only one way to find out: build one and try to sell it.

This is where FirstBuild comes in. If you’re a small appliance nerd, you might have seen its Opal Nugget ice maker, the studio’s first big breakthrough; the Mella mushroom fruiting chamber; its indoor pizza oven; or the Arden Indoor Smoker. I spoke with André Zdanow, President of FirstBuild, to understand where these ideas came from and how the studio is working to try to replicate these successes.

“The most famous example is probably the Opal Nugget ice maker. At first it wasn’t a product at all – it was a technology that the refrigeration division of GE Appliances was working on,” Zdanow said, explaining that it turned out to be a headache. They wanted to put the “nugget of ice” in a refrigerator, but were unable to determine exactly how big the market would be for such a thing. “It’s actually very complicated to put technology in a fridge. In other words, it really was a great idea that engineers had been toying with for years, but in the context of the direction and economics of a multi-billion dollar company, it wasn’t something they could focus on.

The Opal nugget ice maker was FirstBuild’s first commercial success. Picture credits: First build

In a parallel universe, this technology would never have seen the light of day, but instead the engineers came to FirstBuild and wondered what would happen if they put the technology in a separate device, rather than a refrigerator. full size.

“We see a lot of people going to the store and buying this type of ice cream. They call it sonic ice or hospital ice. We decided to develop a prototype and see if people want it to be just an ice maker,” Zdanow explained. This was the genesis of the success of the FirstBuild laboratory. “It all started with rudimentary concepts that looked like an ice maker, but contained nuggets of ice. From there it progressed through industrial design and eventually to a $2.7 million crowdfunding campaign on Kickstarter in 2015.”

Intelligent Ultrasound raises £5.2m for balance sheet and working capital https://urabandai-ss.com/intelligent-ultrasound-raises-5-2m-for-balance-sheet-and-working-capital/ Fri, 11 Nov 2022 14:08:40 +0000 https://urabandai-ss.com/intelligent-ultrasound-raises-5-2m-for-balance-sheet-and-working-capital/

Artificial intelligence (AI) ultrasound technology developer Smart Ultrasound on Friday announced the raising of £5.2 million to strengthen its balance sheet and provide working capital.

The AIM-listed company said the funds were raised through the placement and subscription of 42,504,112 placement shares and 13,712,108 subscription shares to institutional and other new and existing ones, priced at 9.25 pence each.

He noted that the issue price was equivalent to a zero discount to the average closing price of 9.25p on Thursday, with the new shares to be issued representing 17.2% of the company’s enlarged share capital.

The board said the net proceeds of £4.8 million would be used to strengthen its balance sheet and provide additional working capital, including to fund the ongoing development of its existing products.

Intelligent Ultrasound said the fundraising remained conditional on shareholder approval at a general meeting in Cardiff on November 30.

“The directors are very pleased with the response to the oversubscribed fundraising and thank new and existing shareholders for their continued support,” Chief Executive Stuart Gall said.

“The directors consider it to have been an excellent year and the Group remains on track to meet market expectations of £10 million in revenue in 2022.”

“With a strong simulation portfolio for 2023 and three AI-related clinical products launched to market and generating early revenue, the board is confident that this fundraising will drive sales growth that will drive the group to profitability, as well as achieving the group’s ambitious vision of revenue of £25 million by 2025, in what the directors see as an exciting and dynamic market.

At 11:22 GMT, shares of Intelligent Ultrasound Group were up 0.11% at 9.26p.

Reporting by Josh White for Sharecast.com.