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EDI Solutions Enhance Business Productivity

If you depend on or wish to move to a seamless Electronic Data Interchange (EDI) solution for your business, there is one EDI platform that offers a fully integrated solution with everything that you need for perfect EDI compliance. The edi solution is integrated with the leading professional ERP and business systems, and gives you all of the component parts that you need to implement EDI in your business organization. The product provides a robust, cost-competitive edi system with no hidden shortcomings that can pop up later.

The edi solution is very affordable, easy to install and use, and can easily be scaled up very smoothly as your requirements grow. You get connectivity with your trading partners directly or over an Internet gateway. This is a robust and predictable connectivity solution for much lower cost than many other alternatives. It is compliant with most connectivity protocols, such as AS1/AS2/AS3 or FTP. A data translation module is used to convert raw EDI data from your in-house accounting system into a format that used in normal business forms, such as invoices and purchase orders. Conversion to and from ANSI ASC X12 EDI standard is provided. Other modules are provided to integrate edi transactions between any necessary business partners. These use a mapping approach to synchronize formats of inbound and outbound transactions. Additions and changes can be easily done by simply changing the mapping. Mapping updates can be done for no service charge. Adjustments and modifications are done intuitively to reduce overhead on your IT department. Similarly, changes to your accounting system software do not have to cause disruption, since the mapping can be changed to permit a quick transition. Their edi solution support team is located in the USA to give you the best in assistance and hand-holding if problems come up, to quickly solve every potential problem that arises.

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Posted by xblackmindx - February 28, 2011 at 12:33 am

Categories: Guide   Tags: , , ,

9 Things You Must Do to Maximize Your Chances of Obtaining a Small Business Loan & Alternative Venture Finance: Federal Grants and Loans

9 Things You Must Do to Maximize Your Chances of Obtaining a Small Business Loan & Alternative Venture Finance: Federal Grants and Loans

To get approval for your small business loan application, you must be able to meet the lending criteria set down. Some organizations are more risk averse than others, and will therefore have more stringent criteria.

To vastly increase your chances of a successful funding application, you will need to present the following information:

1. The reason for the loan. The lender will be looking for something that fits within the normal range and expertise of your business. The amount may cover a number of items, so you will need to cover each.

2. The amount required, and the repayment term of the small business loan you want. (e.g. ,000 term 5 years, payable quarterly).

3. Details of how you will repay the amount borrowed. For example, “From the increase in profits of reduced running costs of the Whizz-bang Go4It”

4. Details of security you will be able to offer to the lender. This will act as reassurance for the lender. If you’re not prepared to put up some aspect of security, then why should they?

5. You will need to include your business plan which will serve to answer essential questions relating to management capabilities, information about the market you operate in. What kind of business you are in etc.

6. 3 Years financial statements. You will need to present quality financial information from your accounting software, preferably signed off by your accountant or tax advisor.

7. Latest Set of Management accounts. Again produced from your accounting software.

8. Accounts receivables (debtors) and payables (creditors) ageing reports.

9. Principals financial statements. – Particularly required if some form of security is necessary.

While most companies seeking venture capital initially think about angel investors and venture capitalists, a large alternative source of financing is federal grants and loans. The two largest federal grant programs are run by the Small Business Administration (SBA), and by Small Business Investment Companies (SBICs).

An SBA loan, regardless of whether it is a direct loan from the SBA, or, as is more common, a bank loan guaranteed by the SBA, is essentially a bank loan. The benefit of it versus a traditional bank loan is the rate. SBA rates are typically much less than traditional business loan rates.

In most cases, in a guaranteed SBA bank loan, the SBA guarantees 90 percent of the loan will be repaid to the bank. As such, banks are at much less risk than in most other loans, and are a bit more flexible with regards to who they offer these loans. However, the SBA usually requires the founders of the company to personally guarantee the loans, which makes them risky should the venture collapse.

Alternatively, Small Business Investment Companies (SBICs) are privately organized corporations that are licensed and regulated by the SBA. Small or emerging businesses which qualify for assistance from the SBIC program can receive equity capital and/or long-term loans from these companies. Essentially, these companies provide their own capital, which is supplemented by federal funds, to the companies they fund.

Interestingly, U.S. taxpayer’s benefits from the SBIC program as tax revenues generated from successful SBIC investments have more than covered the cost of the program. Likewise the program has created hundreds of thousands of jobs.

In summary, SBA and SBIC financing are viable alternatives to financing from angel investors and venture capitalists and should be considered in the capital raising process. Similarly to angel and VC financing, companies seeking SBA and SBIC financing need a strong management team and value proposition, and a highly professional and compelling business plan in order to raise the capital they need.

If you are a new company, the emphasis is going to be on your business plan, and the security (also called collateral) you or your business can provide against the loan.

You must take the time to practice presenting your case to the bank or lender to iron out any glitches. Practice on your colleagues and family (you never know, they might be so impressed, they’ll invest or lend!). It may help to role play the lender and come up with as many pointy questions as possible. The more time you take the better your chances will be. (But remember; don’t fall into the analysis paralysis trap!)


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Question by magnolia: Timeshare and foreign investment business?
I have a timeshare in Mexico that was sold to us as a foreign investment for our small company. They said we could take trips to the property as a tax write-off as long as we try to rent it out. Has anyone ever dealt with anything like this or know how it would work? Thanks for any help.

Best answer:

Answer by Gene Ericson
A timeshare is not an investment in anyway! Especially when you deal with a timeshare in Mexico! Mexican contracts are on Right To Use basis (pretty much a lease). The contract is typically for 25 to 30 years. The amount you can rent it for will most likely cover slightly over your annual maintenance fees. So it would take years of renting to make your money back never mind a profit! Timeshares are designed to save money on annual vacations not business investments.

Know better? Leave your own answer in the comments!

1 comment - What do you think?
Posted by xblackmindx - February 25, 2011 at 1:00 am

Categories: Small Business Investment Company   Tags: , , , , , , , , , , , , , , ,

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