Maltese Business’s on the Increase

Malta, which has a population of only around 400,000, is the smallest of the European Union member-states. Having adopted the euro as its national currency early this year, Malta’s government hopes that this will provide an opportunity for the country to continue treading the path towards greater economic growth.

The huge investment that has recently poured into Malta’s economy transformed its different industries. Its high-value manufacturing industry, for one, has seen an increase in the number of firms that have transferred their operations to the island. Lufthansa has plans of moving its bigger plane repair operations in Malta’s airport. Pharmaceutical companies have herded to Malta as well, because of a law that allows them to copy patented drugs and release them in the market when the patent expires.

The financial services sector is also on the rise, particularly the in-house insurance operations of multinational companies. Big car manufacturers, such as BMW, Renault, and Volkswagen, have set up their insurance units in Malta.

IT, an industry sector that has only been introduced to Malta’s economy recently, is also booming. IT giants like Oracle, Cisco, Microsoft, and Hewlett-Packard are currently developing a facility called Internet City, similar to what they have in Dubai.

Its tourism sector is also booming. Because of its adoption of the euro, there is an increase in the comfort level of visitors from the surrounding euro-using countries. A quick comparison of Malta Business Directory will show you the evident growth of the business sector.

Just three and a half years after it joined the EU, Malta is already reaping the benefits of its membership. Such positive results can be accredited to the advantages it offers to potential investors: the ease and security of doing business within the borders of the EU, a good reach of the markets in the Middle East and North America, a multilingual workforce that offers inexpensive labor, and a stable political and economic environment. All of these factors contribute to its image as the regional hub best for expansion-driven businesses.

Business Travel Agents Tips: Things to Know About Flight Delay Compensation

You arrive at the airport, your flight is delayed or even cancelled? Flight delay compensation is an important topic travellers should know about, especially when it comes to business travel. Whether it is due to bad weather such as snow, a security alert or a strike, there are many reasons for flight delays and cancellations. But whatever the reason, it means you have to stay involuntarily longer at the airport before you can travel to your destination or back home. Plus, you may be entitled to flight delay compensation or a refund. Here are some important rules helping you to make sure you are not left out of pocket and make the most of the involuntarily gained extra time.

1. Know your rights

From getting refunded for all your food and drink expenses to getting a hotel or some alternative transportation, you should know what you are entitled to. So, if your flight is cancelled or heavily delayed, you’re protected by the Denied Boarding Regulation (EU rule 261/2004 and repealing regulation (EEC) No 295/91). Unless ‘extraordinary circumstances’ apply, you can claim a financial flight delay compensation for cancelled or heavily delayed flights totalling:

€250 (£210) for inter-EU flights of 930 miles or less

€400 (£330) for flights between 930 and 1,860 miles

€600 (£500) for other journeys (long-haul flights)

It applies for EU flights, which includes any flights leaving from or arriving at an EU airport with an EU-based airline. Plus, your compensation may be reduced by 50% depending on flight distance and the ultimate arrival time. This means the reduced compensation applies to short haul flights within two hours, to medium haul flights within three hours and to long haul flights within four hours. But remember, flight delay compensation is only applicable if it is the airline’s fault (i.e. no act of God applies, such as natural catastrophes, incl. earth quakes, volcanoes or bad weather or political unrest). To claim flight delay compensation simply write to your airline stating the flight number, date, length of delay and reason for the claim. Sometimes airlines try offering you vouchers as flight delay compensation, but you don’t have to accept them and can ask for a cash refund instead. If your airline refuses to compensate you, contact the Civil Aviation Authority (CAA) for support and advice. Note, technical faults, unless they result from events which, by their nature or origin, are not part of the normal exercise of the airline, do not count as extraordinary circumstances.

Your right to reimbursement comes into play, if the delay is a minimum of five hours. You should get a reimbursement within seven days, for the cost of the flight ticket, the part of the trip not travelled and the parts already travelled, provided they are then useless. Where applicable, you may be even entitled to the earliest possible return flight to your departure destination or rerouting along with a refund.

During the travel disruption you should receive assistance from your airline, including food, drinks, two free telephone calls, faxes or emails, as well as accommodation and transport transfers to and from the hotel – where applicable. This is regardless of the reason for the delay/cancellation.

2. Networking

It’s always good to make friends, so why not use the downtime for extending your network. Try to see the positive of dealing with flight delays. Seen from a practical level, you may be able to share costs, e.g. for a taxi into town. Also being friendly towards the airport staff may prove helpful. Especially in these kinds of situations they encounter a lot of stressed and unfriendly customers, although the delay/cancellation is none of their personal fault. If you are friendly they are much more likely to help you, maybe even give you some extra advice.

3. Gate-crash the airport lounges

Those of you flying Business Class or being members of corporate airline loyalty or frequent flyer schemes will already be in the VIP lounge enjoying a nice drink and peanuts. It’s a far quieter and relaxed environment. This may be the best option when having to wait for a delayed flight. But if you are neither flying business class, nor a member of a loyalty scheme, be advised that in some cases these lounges are not exclusive and you may be able to access them for a fee of around £20. This could be much cheaper than getting your food and drink from an airport bar.

Furthermore, desk agents in these lounges are often authorised to make fast, last-minute reservations’ changes and there are usually far fewer people ahead of you in the queue. At least you can enjoy the Wi-Fi and free snacks (or booze!) while you have to wait. In the case of a flight cancellation or major delay, and you are at the airport immediately contact the airline you are travelling with. To change the ticket and get advice on the available options, it is best to go to your airline’s ticket desk, as soon as possible. Your business travel management company should continually provide pro-active telephone support throughout, as Flightline Travel does.

What are your top tips for dealing with flight delays and cancellations?

© Copyright Flightline Travel Management Ltd. All rights reserved. All amounts and prices stated are correct at time of publication.

Flightline Travel Management – Pro-active business travel support services for corporate travellers

Flightline Travel Management is one of the most pro-active business travel agents in the UK. We are here to help and offer you a wide range of business travel services and solutions – no matter what your corporate travel needs may be. Call us on 0844 332 0174 or complete our online enquiry form.

KPI – The First Step to Do For a Successful Business Intelligence Process

KPI: the first step to do for a successful Business Intelligence process.

Introduction

There are a lot of business intelligence softwares that gives you the possibility to control your business, from Oracle to Microsoft to SAP. In any case, before the software and the implementation, there is a question a company has to answer: What do we need to measure?

In this article will be discussed the definition and the importance of the KPIs, who and which areas are involved, how to define good and bad KPIs, a categorization, the most used KPIs and the feedback about KPIs from the companies point of view.

Definition of KPIs In the question above, what do we need to measure, a part of the definition of KPI is hidden. A performance indicator or key performance indicator (KPI) is a measure of performance. Such measures are used by companies to define and then evaluate the success of their business. Before to evaluate a business and create a software, the first goal to achieve is to define the parameters that characterize the specific business. After that it is possible to monitor these parameters to fully understand the present state of the business and to define future actions.

Who and which areas are involved in the definition of KPIs Before giving concrete examples, there are other elements to consider defining KPIs: who and which areas are involved in this bi process.

The first question is who is involved in bi process, that means who can gain from that. Generally those are:

  • High level management
  • Communications
  • Marketing
  • Sales
  • Any stakeholders interested in the company

Considering them, it is natural to see the business intelligence process as a common involvement of all the lines of an organization.

Since the answer to the first question, it is possible to guess the areas involved. The 3 main areas are:

  • Cost
  • Product
  • Customer

How to define good and bad KPIs KPIs are different according to specific business. Since this bi approach is very analytical and measurable, a mandatory element is the KPIs have to be SMART. That means:

  • Specific for the business
  • Measurable to get a concrete value for the KPI
  • Achievable, attainable to get real values
  • Relevant to measure
  • Timely, time-bound to define them in time frames

According the SMART definition, it is possible to identify good and bad KPIs. If the KPI is not SMART, then it is a bad KPI. An example can show this concept.

A KPI like Increase Sales that is defined as Change in Sales volume from month to month and it is measured by Total of Sales By Region for all region with the target to Increase each month seems a good KPI. Looking deeper into that there are other questions arising that show how the KPI is not SMART. Does this measure increases in sales volume by Euro or units? If by Euro, does it measure list price or sales price? Are returns considered and if so do the appear as an adjustment to the KPI for the month of the sale or are they counted in the month the return happens? How do we make sure each sales office’s volume numbers are counted in one region, i.e. that none are skipped or double counted? How much, by percentage or Euro or units, do we want to increase sales volumes each month?

Categorization of KPIs As we can see from the above KPIs, it is possible another categorization.

  • Quantitative indicators which can be presented as a number
  • Practical indicators that interface with existing company processes
  • Directional indicators specifying whether an organization is getting better or not
  • Actionable indicators are sufficiently in an organization’s control to effect change
  • Financial indicators used in performance measurement and when looking at an operating index

The most used KPIs The most used metrics concerns the above 3 ares.

Investigating on costs means understand cycle time, ability to conform to market standards, quantity and quality.

Information on product are about pipeline work, research and development, time to market, and product customization.

A modern approach on marketing is more focused on customer behaviour. Therefore some metrics are: environmental appearance, complaint management, employee empathy, product expertise, and responsiveness, customer acquisition, demographic analysis applying to become customer, turnover by segment, bad debts, profitability by segment.

Specially if a company is customer focused, then it is possible to integrate a business intelligence tool with a CRM, customer relationship management software.

Conclusion In this article we talked about the first step to do when companies want to go for a business intelligence software. Before the tools, they need to understand what they need, what to measure and how to do that. There is the SMART approach to define the KPIs and then several examples of common used KPIs. If you are in the business, check also the KPIs other companies use and if they consider them relevant for their strategic goals.

References:

More details and examples are in FeroPluris Blog.

In FeroPluris we consider the definition of KPIs the first step to be fully satisfied with a business intelligence software.

Cristiano Bellucci is a consulting software engineer with passion for technology and complex projects.

Business Architecture – Porsche and it’s Relation with VW

Last Year the Stock of the company Porsche climbed from around 1300 euros to about a maximum of 1800 euro’s.

My first impression not supported by any knowledge was that the stock price reflected the architecture – most of all reduced to a single most element of the architecture: it’s style – of the company. Many other companies would have split the stock so that the liquidity of the shares would improve, but – so I thought – this must be against the style of a company of such an image. The high price matches the uniqueness of the label Porsche and the elevated prices of its cars.

But sometimes you make a mistake when trying to link seemingly unrelated pieces together… Or, perhaps … not.

VW (Volkswagen) is another company in the automotive sector (besides their core in automotive, both companies have also a financial branch selling financial services) and it produces 30% of the parts for Porsche. Both companies have a long partnership that goes back for many years.

Business architecture is a topic in which the complex and inherent relations of a company’s its business is influencing its organization and visa versa. On one hand, a reorganization will influence the business focus of a company and thus will change the business of this company. On the other hand it is possible that a change in the business triggered by a changing market will affect the organization. This may often result in reorganization to align the organization with the changed business. Other possibilities are that organizations change by mergers and takeovers. The automotive sector is very competitive and changing continuously and this is accompanied by mergers, takeovers and reorganizations…

Recently Porsche increased its stake in VW from 30 to 50%.

One of the questions is now: what and how will this change the market and both organizations. Will “the Porsche” turn more to VW or VW more to Porsche, for example.

Recently the stock of Porsche did indeed split by 10. They now quote around 115 euros. This is as most other stock-prices within a very common price range, nothing (special) compared to the imaginative 1000 euros it quoted a year ago. Is this a first indication of its new direction?

Business architecture is much broader as described here, but what is always at stake is the firm relation between the business of a company and its organization. And sourcing — who is doing what, what is done by the internal organization and what is sourced by others – is a recurring issue that is on any management agenda.

Registering, Operating and Managing a Business Jet From Malta

Having been a colony of Great Britain for 164 years (1800-1964), and then continued to serve as a base for Britain’s Armed Forces for a further 15 years, Malta was introduced to the world of aviation from a very early start.

From the construction of the first airfield to the ravages of World War Two, the build up for the Suez canal, through four hi-jacks, and on to today’s Malta International Air show, Malta has seen almost all the uses an aircraft can be put to.

The Malta Department of Civil Aviation records show that when the Maltese aircraft register was opened in 1969 introducing the Maltese register prefix 9H, the first aeroplane to be registered, 9H-AAA was in fact a Cessna 172. The next two aircraft on the register were also general aviation aircraft, as were many others that followed. The aircraft were largely owned and operated by Maltese general aviation pilots.

Today, the local general aviation fleet includes a wider variety of aircraft types and categories ranging from microlights to single engine private planes and public category aircraft available for rental. A small fleet of training aircraft is operated by two flying schools.

Malta has an excellent climate, is strategically located at the centre of the Mediterranean and has one of the last 24 hour airports. It has one of the longest runways in Europe with practically no slots issues. Local business and the Maltese government are only now starting to fathom that there could be a great potential for managing and operating business aviation aircraft from Malta, offering very competitive licencing fees, in an English speaking country in an EASA/JAA environment. This combined with excellent tax structures for foreign investors, whereby, although corporate tax is fixed at 35%, foreign shareholders are refunded 30% within 14 days.

Strictly speaking an owner who is operating his aircraft for his own use, will not require an AOC, as the aircraft will be operated in the private category, however this scenario can be very restrictive, as it is unclear whether employees of the owner and sub-contractors can legally use the aircraft, as this could be deemed that there is gain and hence an AOC might required.

Further more if the aircraft is given under management to a third party company, even if the aircraft is not available for third party charter, the third party company managing the aircraft must obtain an AOC.

Simply put, an aircraft can be operated in the private category without an AOC, however to obtain an AOC, the company must also have an ASL. The applications for the AOC and ASL, should be submitted together to the Director of Maltese Civil Aviation.

In order to apply for an AOC, a company must demonstrate ownership of an aircraft, or a lease agreement for an aircraft.

An aircraft need not be registered to be operated by a Maltese AOC, however the registered aircraft must have a European Union and JAA country registration. The reverse is also through, ie a Maltese registered aircraft can be operated on a European Union and JAA AOC, however both of these scenarios are not preferred by the Maltese Department of Civil Aviation.

Similar procedures are required by the company applying for an AOC as for company applying for an ASL.

The process for obtaining an AOC, ASL and registration of aircraft should take from three to six months, subject to demonstrating to the Maltese Department of Civil Aviation full compliance to JAR OPS 1.

As per statistics published in 2006, Malta had the 10th cheapest labour cost in the private sector from all European Union Countries. At just under 10 Euro per hour, Malta is cheaper than Portugal, Slovenia, Cyprus, Greece and Spain. More importantly the rate of salary increase was the second lowest from the 10 countries with the cheapest labour cost, at under 3.5%.

That said, aviation being a very specialized industry, salaries in this sector are higher than the average, and with big players, such as Air Malta, Lufthansa Technik, and Servisair Globe Ground already established in Malta, there is already a healthy pool of aviation trained personnel, in all the major areas, such as Flight and Ground Operations as well as with Technical staff. Malta has two flight schools and the Local Government has assisted Lufthansa Technik amongst other ways by means of a collaboration between The Malta College of Arts, Science and Technology, and Lufthansa for the training and development of their local employees.

A company operating a Challenger 605 and a Lear 60 XR will pay the authority just over 36,000.00 Euros for the first issue of an AOC and then barely over 16,000.00 Euros per annum for renewal fees. Hardly forbidding charges. More importantly an aircraft registration and/or AOC should be obtained within 90 days.

This is achievable in Malta, as the Department of Civil Aviation is still relatively young and can give interested parties undivided attention. Assuming the owners/operator provide all the necessary information and documents.

Other costs involved would be the setting up a company structure to own the aircraft and or apply for the Air Operating Certificate. These costs are estimated to be in the region of 2,000 to 5,000 Euros per annum, depending on the level of actual presence of the company on the island.

So where would one start? Sierra Aviation was established in 2002 as a business aviation service company. As the only dedicated business aviation company in Malta, Sierra Aviation’s main line of business is namely;

o Aircraft Charter Brokers

o Aircraft Handling at Malta International Airport

o Aircraft Sales and Leasing

o Aviation Consultancy

o Aircraft Management

Sierra Aviation can provide a number of services to owners/operators who may wish to exploit the great opportunities which Malta can offer to the international business aviation community.

Namely Sierra Aviation can be the co-ordinator between the foreign party and the Maltese authorities, providing constant follow-up from the day go to the day that the aircraft is registered in Malta, and/or an Air Service Licence and Air Operator Certificate is obtained.

For owners, Sierra Aviation can provide aircraft management. Through our numerous international partners, we can provide an unprecedented support that commensurate with the best in the industry at a fraction of the cost. Our staff, experienced in business aviation, and with local knowledge, in so far as, personal familiarization with the Civil Aviation Authority, the Airport Authority, the local Government, as well as the local labour market, company formation legislation will make sure that each customers requirements are met efficiently, safely, and legally.

Stanley Bugeja

Necessary Things to Do for Business Success

Ask yourself a simple but honest question:

“Are you involved in the right activities to generate the results necessary for your business to thrive in the current climate?”

Change activities and use your time wisely

If you have any doubts about the effectiveness of your current activities or what you are focusing on, then stop what you are doing right now as you generally will get what you focus on. If you think about all of the negatives around you, it is almost certain you will end up with negative outcomes. Research has shown if you focus on what you want and not what you need every day the more positive, healthier and happier you become.

It takes as much time and energy to focus on negative outcomes as it does focusing on positive outcomes…flip the coin from negative to positive – DO IT NOW.

For most of my business life I have used a very simple but effective process called a strategy for success and I would seriously urge anyone who is currently unsure of what direction they are going to follow the process as it will get focus into your day to day activities and above all a positive end result, it works once it was followed to the letter.

A strategy for success

The steps are simple and easy to follow, all you have to do is visualise yourself planning a trip of a lifetime, buying a car or even preparing for your parents golden jubilee here are the steps follow them no matter what the purpose.

  1. Have a definite purpose – decide exactly what you want to achieve (Goal)
  2. Have a clear picture as to where you are now towards that purpose (Gap)
  3. Once you are clear about step 2 put a plan in place to achieve step 1 (Plan)
  4. Now you need to prepare yourself mentally and physically for the task ahead (Preparation)
  5. Once you are ready to take on the task get started – DO IT NOW as it isn’t a wise decision to put off the starting point – don’t put off to tomorrow what you can do today (Implementation)
  6. Check your progress on a regular basis against what you want to achieve – don’t be a busy fool – stay focused on step 1. (Review and Preview)
  7. If you need to change your activities at this stage do so but only focus on IMPORTANT ACTIVITIES which add value to your purpose – do not let yourself fall into the URGENT ZONE (Refocus)
  8. Re – Dedicate to your original purpose (Goal)

For the purpose of this exercise I will focus on the importance of planning which is step number 3 and how effective a well though out plan can drive success in any endeavour you choose to undertake, it is also important to remember the bigger the project the bigger the plan.

The process of planning generally does not change, so remember there is no excuse, and remember the more excuses you make the less successful you will be.

Fear will not kill you but giving into it will make you less successful.

Six Steps of Planning

Whether you’re looking to plan your retirement, start a new business, buy a car, or take a holiday, planning is a must.

  • This first step is a bit obvious. You need to have a goal in mind. One example would be “to buy a new laptop.”

Without a goal, there’s no plan and without a plan, there’s no direction for your future, which means any road will take you there.

  • Research – Start talking about your goal and research what it will take to fulfil it.

If the goal were to buy a new laptop, start looking at the types of laptops available, prices, specifications and so on.

  • Weigh Options – There’s almost never just one way to do something. Explore your choices.

Using our laptop example, some options would be the type of laptop to buy the price range, the colour and for what purpose you need it, business or personal.

  • Direction – Now that you have a goal, knowledge of that goal, and options towards obtaining it, you’re now ready to decide the best course of action.

Sticking with the laptop example, the action decided might be:

  • Buy from the company with the best after service.
  • Go for the cheapest or possibly the dearest option, depending what I want the laptop for?
  • Wait until the price is lower in the sales
  • Look for financing at X% or better for X months

As you can see, there can be a clear path. The first step is to buy from the company with the best after service, and that’s what you’ll focus on initially. Once you have went with that decision, it’s all about finding the laptop with the price and criteria you planned for.

  • Begin – Many people fail at this step. It can be relatively easy to make a plan up to this point.

But, here’s where it’s time to put in the work.

In our above example, the first step was to buy from the company with the best after service. You would now figure out what it will take to determine the right company and go about making it happen. You will need to research a number of companies, have knowledge of the memory you need, make and model and so on.

Always remember what you’re working for, but don’t get caught looking ahead. Focus on the current step in your plan and execute it.

  • Adapting – The most successful people in the world are those that can adapt to current situations. Sometimes opportunities will open up and you’ll need to revise your plan to take advantage of them.

Here’s a great example of adapting for a purchasing decision.

Imagine you have planned to purchase a new suite of furniture. You want to pay cash, because you know that credit cards are bad to use for this type of purchase. The suite of furniture you want is normally €2,500 at the store and you’re saving up for it.

One day you spot an ad in the Sunday paper and the suite of furniture is on sale for €1,500. You have €800 in cash saved so far. What should you do?

By adapting your plan and using your credit card, you can save €500. And this is where making a decision to adapt comes in.

Plan and Succeed

Planning is vital. It allows you to see exactly what it takes to accomplish a goal.

Don’t just take each day as it comes. Spend some time and think about what you want to accomplish in life.

I have shown you how even the smallest of events, like buying a suite of furniture, can be planned and executed better.

We all have life rules that help us make choices, make sure you are not operating on any that have reached their sell by date.

Successful people know that time is at the heart of success and use the time they have to the best effect. Make plans and use your time wisely.

Where there is nothing to lose by trying and a great deal to gain if successful by all means try – DO IT NOW.a

The European Union’s Plan to Save the Euro

With the government of Greece teetering on the brink of disaster, and governments in Spain and Portugal in danger of collapse, ministers from the 16 member European Union acted to protect other eurozone countries from being affected by the Greek debt crisis. The ministers agreed to €750 bn ($975bn; £650bn) worth of emergency measures to ensure the stability of their shared currency and prevent the fallout from the Greek crisis from spreading to other nations in danger of defaulting.

The 16 members of the European Union who share the Euro currency will have access €440 bn of loan guarantees and €60 bn worth of emergency funding from the European Commission. The International Monetary Fund will also contribute roughly €250 bn to the bailout package. The decision was announced on Monday after 11 hours of talks. In addition to the massive bailout package a €110 bn loan package for Greece was agreed to by eurozone members, backed by the EU and IMF.

Under the plan, member nations will have access to €60 bn from the European Commission to support themselves in the face of “difficulties caused by exceptional circumstances beyond their control”. The €60 bn loans would be available to member nations through the European Financial Stabilisation Mechanism and would come from the €440 bn worth of guaranteed funds. As a part of the plan the European Central Bank will buy government and private debt in an effort to stabilise markets and offer depth and liquidity to dysfunctional markets.

The measures taken by the members of the EU prove that Europe is willing to defend its shared currency no matter what it takes. The actions had an immediate impact on markets around the globe, with markets in London, Japan, and Hong Kong all trading higher as a result of the news. The announcement of the bailout package also had an immediate impact on the value of the Euro as it rebounded from a 14-month low against the dollar. The Euro jumped above $1.30 in early trading after the plan was announced. Other positive fall outs from the announcement of the package included Greek’s two-year bond rates falling from 18.1% to 4.9%. The premiums on eurozone government bonds also fell along with the cost of insuring them against default.

European leaders admit that the bailout package alone is not enough to solve the problem however, as simply throwing money at the problem won’t be an option should another crisis arise. Spanish Finance Minister Elena Salgado said that “our conclusions also reiterate yet again the need for progress to be made on regulating the financial system, on oversight and the supervision of the financial system, in particular derivatives and the role of rating agencies”.

Know Trading Business Jargon and Understand How the Forex MegaDroid Works

Before you can finally get the hang of understanding the ins and outs of currency trading, of course, it is just practical to start with the basics. As simple as knowing the terms that are usually used in doing live trading will surely help in knowing what steps to take in order to achieve higher profits in trading. With the launch of a lot of innovative products in the market today, vocabulary for currency trading change and evolve at break neck speed and if you neglect to brush up on these words, then you will certainly find yourself in the dark about understanding business jargon. Let us devote time today to understanding these business words and terms.

First key term we need to understand is base currency. This is one of the key foreign exchange marketplace industry terminology. When we say base currency, we simply mean the primary or major currency you will be trading for and this base currency always come and a part of a currency trading pair. The base currency is always the left side of the currency pair. Supposing you have a currency pair USD/EUR 2.29. This simply means that the US dollar which is your base currency equals to 2.29 Euros. In order to trade live, one has to work with a combination of any two currencies. Say, for a typical trading entry, you may opt to sell Euro and then buy US dollars or the other way around, selling US dollars to buy Euros.

We have to note that the foreign exchange marketplace is one of the biggest business industries to date. Why is this simple concept of live trading very important to understanding or making the Forex Megadroid work at its optimum? We have to understand that the Forex Megadroid only does trading in the dominant currency pair which is of course the two leading currencies in the world, the US dollar and the Euro. If you plan to trade using other currencies, then I am telling you now that the Forex Megadroid is not for you. Whether or not you have already found out about this detail, you may learn more about it by reading up on trading with USD and Eur in order to know how you can maximize using the Forex Megadroid in your trading.

Another term we should understand is liquidity, this is a financial terminology that pertains to the exact amount of money that you set available for investment. Of course if you have constrained liquidity, this simply means that there is a limited amount of money available for investments. The common status of liquidity in the forex market is usually high, they just get modified quickly according to market conditions and trends.

KPI – The First Step to Do For a Successful Business Intelligence Process

KPI: the first step to do for a successful Business Intelligence process.

Introduction

There are a lot of business intelligence softwares that gives you the possibility to control your business, from Oracle to Microsoft to SAP. In any case, before the software and the implementation, there is a question a company has to answer: What do we need to measure?

In this article will be discussed the definition and the importance of the KPIs, who and which areas are involved, how to define good and bad KPIs, a categorization, the most used KPIs and the feedback about KPIs from the companies point of view.

Definition of KPIs In the question above, what do we need to measure, a part of the definition of KPI is hidden. A performance indicator or key performance indicator (KPI) is a measure of performance. Such measures are used by companies to define and then evaluate the success of their business. Before to evaluate a business and create a software, the first goal to achieve is to define the parameters that characterize the specific business. After that it is possible to monitor these parameters to fully understand the present state of the business and to define future actions.

Who and which areas are involved in the definition of KPIs Before giving concrete examples, there are other elements to consider defining KPIs: who and which areas are involved in this bi process.

The first question is who is involved in bi process, that means who can gain from that. Generally those are:

  • High level management
  • Communications
  • Marketing
  • Sales
  • Any stakeholders interested in the company

Considering them, it is natural to see the business intelligence process as a common involvement of all the lines of an organization.

Since the answer to the first question, it is possible to guess the areas involved. The 3 main areas are:

  • Cost
  • Product
  • Customer

How to define good and bad KPIs KPIs are different according to specific business. Since this bi approach is very analytical and measurable, a mandatory element is the KPIs have to be SMART. That means:

  • Specific for the business
  • Measurable to get a concrete value for the KPI
  • Achievable, attainable to get real values
  • Relevant to measure
  • Timely, time-bound to define them in time frames

According the SMART definition, it is possible to identify good and bad KPIs. If the KPI is not SMART, then it is a bad KPI. An example can show this concept.

A KPI like Increase Sales that is defined as Change in Sales volume from month to month and it is measured by Total of Sales By Region for all region with the target to Increase each month seems a good KPI. Looking deeper into that there are other questions arising that show how the KPI is not SMART. Does this measure increases in sales volume by Euro or units? If by Euro, does it measure list price or sales price? Are returns considered and if so do the appear as an adjustment to the KPI for the month of the sale or are they counted in the month the return happens? How do we make sure each sales office’s volume numbers are counted in one region, i.e. that none are skipped or double counted? How much, by percentage or Euro or units, do we want to increase sales volumes each month?

Categorization of KPIs As we can see from the above KPIs, it is possible another categorization.

  • Quantitative indicators which can be presented as a number
  • Practical indicators that interface with existing company processes
  • Directional indicators specifying whether an organization is getting better or not
  • Actionable indicators are sufficiently in an organization’s control to effect change
  • Financial indicators used in performance measurement and when looking at an operating index

The most used KPIs The most used metrics concerns the above 3 ares.

Investigating on costs means understand cycle time, ability to conform to market standards, quantity and quality.

Information on product are about pipeline work, research and development, time to market, and product customization.

A modern approach on marketing is more focused on customer behaviour. Therefore some metrics are: environmental appearance, complaint management, employee empathy, product expertise, and responsiveness, customer acquisition, demographic analysis applying to become customer, turnover by segment, bad debts, profitability by segment.

Specially if a company is customer focused, then it is possible to integrate a business intelligence tool with a CRM, customer relationship management software.

Conclusion In this article we talked about the first step to do when companies want to go for a business intelligence software. Before the tools, they need to understand what they need, what to measure and how to do that. There is the SMART approach to define the KPIs and then several examples of common used KPIs. If you are in the business, check also the KPIs other companies use and if they consider them relevant for their strategic goals.

References:

More details and examples are in FeroPluris Blog.

In FeroPluris we consider the definition of KPIs the first step to be fully satisfied with a business intelligence software.

Cristiano Bellucci is a consulting software engineer with passion for technology and complex projects.

A Forex Trading Robot Can Put Your Home Based Business on Auto Pilot

Why Do You Need A Forex Trading Robot?

Forex Trading has become a massive business that involves more money each day than all the stock exchanges in the world put together. So it is not surprising that more and more people want to know how to share in the foreign currency trading profits that are achieved by just a few traders every day. Learning how to trade foreign exchange is difficult for the average person and can take many years as forex trading is a complex business.

Most of the trading is done by professionals, who have to spend time monitoring all the financial indicators (for each country) that influence the value of major currencies. They also use certain trading methods to decide when it is a good time to buy or sell a specific currency. These professional traders then have to make manual trades to buy or sell a specific currency pair at a time when they expect to make a profit. The major currency pairs would include: EUR/USD (Euro vs. U.S. Dollar), EUR/GBP (Euro vs. British Pound), EUR/CHF (Euro vs. Swiss Franc), USD/CAD (U.S Dollar vs. Canadian) etc.

Now the average person looking for a home based business opportunity will not have to spend the time required to become experienced at making money this way. Technology has become available to automate many of the key features of foreign currency trading and programs have been developed by experts, who test different systems and can now provide a tool for average people to make money in foreign exchange trading. One of the best of these tools is called a Forex Trading Robot.

A Forex Trading Robot is a piece of software that can be purchased online and loaded on to a foreign currency trading platform. The robots are programmed to monitor the currency markets and make trades automatically. The best robots are programmed to make both short-term trades as well as long-term trades. This type of robot would allow you to make money in foreign curency trading any day of the week. But how do you know which Robot will really allow you to make money while working at home? Most robots are sold with a 60 day money back guarantee so you can buy a few and test them in Demo mode to see which one will make money for you. You can keep the one that works and you will be ready to start your home based business.

How To Choose A Forex Trading Robot – The best trading robots will use a reliable stop loss strategy and will provide more winning trades (some claim up to 90%) than losing ones. There are many forex trading robots available online, but they are not all as profitable as they claim. If you get good test results in Demo Mode, then you can be more confident of making very good money from forex trading when you go live. Best of all, these Robots require little input from you because you can set them up to run on autopilot and place trades for you day and night. Most programs come with step by step video instructions to make it very easy for you to get started with a good home based business that can be launched with a small initial investment. To find out more about Forex Trading Robots please visit my website and click on “Opportunities”.

Earlyn Shuffler is the owner of a website which promotes some of the top performing affiliate programs on the internet. These programs are tested against very strict performance criteria before being recommended. He shares powerful ideas on creating multiple streams of residual income with affiliate programs and Forex Trading Robots.