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Compliance requirements can vary in different places, and meeting them may be challenging. For example, some places treat the importation and sale of some types of sparklers as legal but others may prohibit it entirely. Managers in the human resources field often face many of the same challenges. Human Resources are responsible for developing and implementing strategies to attract, retain, develop and motivate employees. They are also responsible for ensuring that the company complies with all applicable laws and regulations. The Human Resources department of a company bears significant responsibility...

The Michelin Guide awards its coveted stars to restaurants offering exceptional cuisine. Michelin stars have become a benchmark of fine dining, sought after by top chefs and wealthy patrons alike. Restaurants can be awarded Michelin stars for achieving a particularly high standard. Eateries can be awarded one, two or three stars for their cooking excellence — and among chefs worldwide this is a highly coveted honor. Restaurants that receive Michelin stars are considered to be the best in their city. Receiving a star is an honor, and these restaurants gain...

The NBA (National Basketball Association) regular season has just ended, and the playoffs are about to begin. The NBA playoffs will begin after the regular season and play-in tournament are both over. It must be an important time for basketball fans. So, what is the important time for your business? To succeed, you need to know when the right time to make critical decisions is. You also need to know how important it is for you to plan and prepare for those times. Picking an ERP (Enterprise Resource Planning) system...

During her acceptance speech for the Leading Actress Oscar at age 60, Michelle Yeoh said “Don’t let anybody tell you that you’re ever past your prime.” Businesses, like people, are inspired to do their best work by maintaining their status as market leaders. An enterprise must keep its prime and maintain its position as market leader. This approach helps them keep their current customers while also attracting new ones. It ensures that the company continues to have customers, which is necessary for its survival. Use technology to make your business...

Digitalization is not something that started recently. Digital technology can make us more efficient. It is also a way to make our lives easier. One example is the application of digital technology in Hong Kong to help people apply for their Hong Kong identity card. The government has created an online service so that citizens can do reservation at home. This is a great way to help people save time. They no longer have to go through the hassle of lining up at the government office. The application process is...

In the past, processes such as sales were mostly manual and labor intensive; therefore, companies did not have available digital tools to automate those tasks. The duplication of tasks and the time required for a process to be completed were frequent occurrences. With the evolution of technology, companies now have access to digital tools that can automate many tasks in a process and make them more efficient. This allows companies to perform their tasks faster and with fewer resources than before. Employees could use their time more strategically by focusing...

The catering industry is often associated with food, buffets, event planning and corporate luncheons. But the reality of running a company in this field can be surprising to those who don’t know it well — unless you work in that world. Without the help of catering ERP software, the process can be confusing and time-consuming for companies that try to do this on their own. These businesses have to juggle so many different processes — from assigning drivers for delivery, designing menus and choosing product per order — that it...

Each year, the number of cybercrimes grows. Organizations around the world are struggling to find ways to protect data and prevent privacy breaches because data breaches can result in heavy fines and loss of customers’ confidence. Consequences of a data breach can include financial loss, damage to your reputation and even legal liability. It’s important to understand why data security matters and what can be done to keep information safe. With the influx of malicious programs, advances in technology and other security threats, it can be challenging to know where...

Digitalization goes hand-in-hand with digitization. While digitalization is often described as a positive development, digitization — or turning physical objects into digital files or data — does not have such positive connotations. Digitization is the process of making something digital. There is no digitalization without digitization. Digitalization and digitization are not new concepts — for example, it’s been used to describe digital currency and digital humans. However, what does the term mean for your business? To understand the concepts of digitalization, let’s first define digitization and digitalization. Digitization is the...

In Hong Kong, there are several different types of manufacturing companies in the markets. As information technology becomes more prevalent, manufacturers are starting to think that intelligent systems may be better at their jobs than conventional ones. Increasingly, enterprises in Hong Kong have adopted ERP systems to overcome common difficulties such as product delivery and workshop scheduling. Business process systemization and real-time control of order progress are made easier by adopting these tools. Choosing an ERP system for manufacturing is a challenge because there are so many options available. Manufacturers...

A bank is a financial institution that provides checking and savings accounts, loans, mortgages, and other services. Banks provide many related services, such as IRAs, CDs, currency exchange, and safe deposit boxes. Digital technologies are transforming the way that banks do business. This is particularly true of banks in Hong Kong, where the landscape of banking is rapidly changing. Banks need to adapt to these changes while also meeting the needs of their customers. In response to customer demands and new economic realities, banks are increasingly finding that they must...

Clothing industry is an industry that produces clothing items and accessories made of textiles. It summarizes various elements of the production and value chain for clothing and garments, focusing first on the textile industry (producers of cotton, wool and fur), then moving onto embellishing these materials with embroidery before discussing how fashion trends are made and marketed by retailers. In today’s competitive clothing market, manufacturers must understand supply chain management, omni-channel commerce and lean manufacturing. It is essential for manufacturers to understand how their business operates, and how it affects...

GPT-4 is a revolutionary new artificial intelligence model that sets the standard for all future AI research. GPT-4 has been shown to give more accurate answers and fewer incorrect ones on standardised tests. GPT-4 has already shown its value in many different industries. The software has allowed us to do things that were previously thought impossible. It is capable of solving problems that would take human years to figure out, and it does so in just a few hours or days. Technological enhancements are affecting not only the field of...

Document management (often referred to as document management systems or DMS) is the use of a computer system and software to store, manage and track electronic documents. Document management software controls and organizes documents throughout an organization. The software allows users to organize, search and access their documents so they can be shared across organizations with ease. As a company grows or undergoes organizational change, the volume of documents and data to be organized usually increases. The time that could be spent working on a project is lost to the...

When your company faces difficult financial times, the easiest way to cut costs may be through layoffs. Although layoffs may reduce costs in the short term, they can create serious problems for long-term growth. These actions could result in severance payouts, higher unemployment insurance rates and lower morale. When business improves, a company may be compelled to rehire laid-off workers — and end up spending more than it anticipated. You may want to investigate some alternatives that could reduce your costs. For example, switching to an ERP system may save...

The textile industry, like many other industries in Hong Kong, is highly diversified. To succeed in the increasingly competitive textile industry, manufacturers must master supply chain management, omni-channel commerce and lean manufacturing. As more companies use information technology to improve their efficiency, textile manufacturers are considering intelligent systems as a way of increasing productivity. To meet these challenges, many textile manufacturers choose to improve their operations by implementing a textile manufacturing ERP system. Textile companies face challenges in choosing the best ERP system to remain competitive. The textile industry involves...

It is impossible to imagine what life would be like without technology. We have become so dependent on technology that our lives revolve around it. Technology has had a transformative impact on society. As the pace of innovation continues to accelerate, we can expect that impact to continue in the future. Technology has made possible many of the advances we enjoy today. For example, the invention of artificial intelligence (AI) has revolutionized the way people interact with chatbots and search engines. Increasingly, e-commerce business owners are using ChatGPT — an...

Analysts, vendors and marketers use confusing terms when they talk about HR software — such as Human Resources Information System (HRIS), Human Capital Management system (HCM) and Human Resource Management System (HRMS). Because the terms HRIS, HRMS and HCM are used interchangeably to describe a wide range of software applications designed to meet human resource management needs, it may be easy for you to overlook subtle differences between them. Depending on which functions a company chooses to enable, as well as its size and other factors, each system may be...

We live in the age of information. New technology is being developed every day to make life simpler, more advanced and better for everyone, for example Artificial Intelligence (AI), Machine Learning (ML), Blockchain, Internet of Things (IoT), etc. Technology is evolving so rapidly today that the change seems almost exponential. Experts share their insights on how to make challenging business transformations successful by embracing new technology. For businesses, new technology often reduces costs, enhances customer experiences and boosts profits. However, as new technologies are launched at breakneck pace — each...

You can be successful in your business in Hong Kong if you make a plan that will guide you. Your plan should include specific goals and business objectives, as well as a list of the steps that you will need to take in order to achieve them. It means that you need to stay one step ahead of your competitors. To stay ahead of your competitors, you need to brainstorm and stay informed about new ideas and emerging technologies. It is imperative to plan ahead for the benefit of your...

What words come to mind when you think about “technology”? Do thoughts of your smartphone, jet aircraft, and spacecraft come to mind? Or do you think of artificial intelligence, and the algorithms that enable robots to learn? No matter what you have visualized as the future of technology, we all know that it will continue to grow and change. We may use and abuse it, but we cannot imagine living without technology — no matter how simple the idea. Technological advances have improved the field of ERP systems, giving businesses...

When people talk about HR software in Hong Kong, they often use confusing terms — such as Human Resources Information System (HRIS), Human Capital Management system (HCM) and Human Resource Management System (HRMS). Each term has a distinct meaning, but they have something in common. Every business in Hong Kong has unique challenges, and every effective HR system should address them. Here are some of the most common ones: Data Privacy and Security: When managing HR system, one of the most important concerns is ensuring employee data privacy and security....

The most successful e-commerce firms in Hong Kong rely on ERP tools, which give them a competitive edge. ERP essentially unifies various procedures into a single system. ERP (short for enterprise resource planning) refers to software and systems that link all company activities — from production, supply chain management, sales and procurement. It provides enterprises with a predictive view of their future commercial activities by fusing together data from the financial, logistical and human resources sectors. By linking and synchronizing your ERP software with other business systems, you can capture,...

Bitcoin is a decentralized form of digital currency that uses cryptography to ensure secure transactions over its peer-to-peer network. For years, bitcoin advocates have argued that the digital currency is a form of “digital gold” — an asset that can help investors diversify their portfolios and hedge against inflation. But recently, there has been a correlation between stocks and the value of bitcoin. The banking turmoil sparked by the collapse of Silicon Valley Bank and the failure of two cryptocurrency-friendly lenders — Silvergate Capital and Signature Bank — has actually...

There is some free ERP software available in Hong Kong. In many small software niches, open source ERP options are available for free. Most free versions, however, only allow for a limited number of users and have caps on available storage space. Because ERP software requires extensive, complex processes and technical support to run effectively, companies soon realize that there are no free lunches when it comes to choosing an ERP system. Since free solutions tend to be simply and less powerful than those with a cost, complex operations may...

“Ladies, don’t let anybody tell you you’re ever past your prime” said by Michelle Yeoh when she won the Leading Actress Oscar on the age of 60. Actually, it’s not only for ladies. It can be applied to business as well. Don’t let anyone say that your business has past its prime! Use technology to make your business more successful. Technology is not only for young people. It can be used to enhance your business. Start by learning how to implement an ERP system, this will help you manage your...

The emigration wave in Hong Kong has caused many residents to leave and move to other countries, for example, Singapore, Dubai, Japan, South Korea, Thailand, Canada and the United Kingdom, etc. This movement leads to labor turnover rate in Hong Kong increased. Employee turnover is an important metric for all companies to monitor. Although the formula for calculating employee turnover is straightforward, collecting and reporting accurate data can be a challenge. In order to manage and monitor the labor turnover rate, HCM system (also called HRMS/ HRIS) is required. Good...

An API (stand for Application Programming Interface) is a set definitions and protocols that enable two software components to communicate with each other by using the same language. API let the software you build talk to one another without your having to understand how those other software work. Time and money can be saved by simplifying software development with the application of API. API gives you flexibility, simplify design and administration. They also provide opportunities for innovation. By using this process, your company can obtain better results while reducing development...

Employees of many different corporations, including Meta, Disney, Zoom, Dell and PayPal have been laid off over the last few years. This has happened because pandemic-related financial instability has wreaked havoc on businesses all around the world. Aside from lowering payroll expenses, layoffs can cut costs in other areas. Saving money on salaries is only one benefit businesses see when they lay off employees. In the case of a layoff, an employer is not required to provide its terminated employees with benefits or insurance. Therefore, many companies announced plans for...

Trading is a business where businesses sell different forms of goods and service-based products to customers in small or large amounts. Today, companies mainly specialize in a specific type of product and sell them both to businesses (B2B) and individual customers (B2C). The companies can vary in size, and some are run by just one person. The customers can be big retailers or small shops. In this information age, access to valuable data is essential for success. Regardless of the type or size of your business, ERP software could prove...