Blog

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...

Managing money can be challenging when running a business. It’s important to have a budget and plan out how you’re going to spend your money. But it can be even more important to use that budget in a way that maximizes your business opportunities. So be sure to think about your spending as you plan for the future. Without good planning, it will be impossible to grow your business. Businesses that are growing or may grow in the future should consider implementing an ERP system. ERP systems help companies by...

“I want to discuss my management theme for 2023, which is the year of efficiency.” – Mark Zuckerberg, Chief Executive Officer at Meta Platforms Inc. Meta is laying off numerous workers to hedge against economic instability. Meta has embarked on a cost-cutting and efficiency drive, which includes slowing hiring and canceling some projects. Zuckerberg dubbed the initiative “Year of Efficiency.” Businesses have a strong incentive to find ways of cutting costs without sacrificing the quality of their products or services. Is 2023 Your Year of Efficiency for your Business in...

At a time when the workforce is shrinking, in a bid to cut costs, human resource management is a challenge for enterprise in Hong Kong. For example, Facebook’s parent company, Meta, has laid off numerous employees and closed many open positions, Alphabet, Google’s parent company announced it would lay off 12,000 employees, etc. When businesses lay off several employees, the remaining workers are often forced to take on additional responsibilities. The retained employees will have to face an increased workload. In a stressful work environment, employees are not able to...

The catering and hospitality industry in Hong Kong — which includes restaurants, takeout, vending machines, bars & taverns as well as fast food chains — is full of twists and turns. For F&B owners, a successful operation depends on making the best use of time, money and other resources. As consumer preferences continue to change and economic conditions shift in Hong Kong, staying ahead of the curve in this industry requires a deep understanding of what consumers are looking for. In order to succeed in this industry, you need to...

Artificial intelligence (AI) is a broad field of computer science that aims to create machines capable of performing tasks normally done by humans. Artificial intelligence (AI) is a multi-disciplinary field of study with many contributing factors. However, deep learning and machine learning in particular have been making huge strides recently — and the impact on technology industries across sectors has been profound. Technological enhancements, including those that affect artificial intelligence, can have a dramatic impact on other types of technology. Over the years, technological advancements have greatly improved the field...

There are many different kinds of companies that handle the import and export business in Hong Kong. Some of these companies are very large, some are small and some are even one-person operations. But no matter what kind of company you are, you will need some type of ERP software to help manage your business. With the increased use of information technology, many companies involved in importing and exporting are finding that intelligent systems work more efficiently than conventional ones. In fact, most companies that handle the import and export...

GPT-4 is a groundbreaking technology which is a powerful and impressive AI model that has ever been built. GPT-4 is better at solving certain technical challenges than earlier versions of its software. It has been shown to answer math questions better and give fewer false answers on standardised tests. Technological enhancement affects not only AI models but also other forms of technology. The field of ERP system has been greatly improved by technological advancements, which give businesses more control over their ongoing internal operations. In order to remain competitive, businesses...

In the manufacturing sector, different companies have varying business models and management focuses. Material receipt, just-in-time (JIT) production, shop floor scheduling—these are just a few examples of common challenges that exist in any given production facility around Hong Kong. With help from ERP software which ensures data collection for real-time monitoring of processes, local manufacturers find this system to be an excellent tool to manage operations efficiently and effectively through automation. ERP software is one of the most effective tools to manage business operations because it can handle all aspects...

ERP system has become a necessity for many Hong Kong businesses looking to be more efficient. They can help leaders and management reallocate human resources and financial capital by streamlining core business processes and deliver results, which generates savings without sacrificing on quality. An ERP system can help Hong Kong catering and hospitality businesses streamline its planning and coordination. Employees can view current inventory, customer orders and supplier purchase orders in detail. They can also forecast future demand based on past sales activity. ERP system also helps businesses track their...

The failure of Silvergate Capital Corp (SI), Silicon Valley Bank (SVB) and Signature Bank (SBNY), coupled with the financial crisis, brings to light the discussion of systemic risk and systematic risk. Many experts have commented on whether the crisis will pose a systemic or systematic risk to the economy. While systemic risk and systematic risk may seem similar, they carry different implications in the financial world. Systemic risk is the risk that a large-scale collapse could be triggered by events at the company or industry level. Systematic risk affects the...

Running a business can be challenging, especially when it comes to managing money. For example, HSBC UK Bank acquired Silicon Valley Bank UK (SVB UK) for 1 British pound. Noel Quinn, CEO of HSBC Group, says that he believes this acquisition will strengthen its commercial banking franchise and enhance its ability to serve innovative and fast-growing firms. Therefore, be sure to plan your business spending well. If you aren’t smart about your spending, it will be impossible for your business to grow. If your business is growing or may grow...

Different Hong Kong manufacturing enterprises have adopted various sales strategies and operation methods. Hong Kong enterprises that are able to integrate workshops, equipment, materials and processes into their operations in order to respond quickly and accurately when new information is received will benefit from more successful management strategies.   Many Hong Kong manufacturing enterprises have adopted ERP software to manage their business processes, reduce redundant data entry work, and improve timeliness and accuracy of information. Most enterprises prefer to have specialized manufacturing ERP that can handle their unique requirements. Manufacturing...

There are many different types of manufacturing companies on the market in Hong Kong. With the widespread use of information technology, manufacturing companies are increasingly considering intelligent systems to be more efficient than conventional ones. Manufacturers often encounter difficulties choosing which ERP software to use in order to stay competitive. Increasingly, enterprises in Hong Kong have adopted ERP (enterprise resource planning) systems to overcome common difficulties such as product delivery and workshop scheduling, business process systemization, real-time control of order progress. When you are choosing an ERP system for your...

Many Hong Kong academic institutions now have libraries to support the curriculum, encourage students and faculty to research new things that go beyond their textbooks—and much more. As the demands of library management change, libraries should invest in software that can grow with those changes. ERP software becomes indispensable for the library of the academic institutions, since a variety of processes and data—such as event management—require automation. Most of the ERP system can handle things like event management quite efficiently, but it may not be able to manage the unique...

Hong Kong enterprises in production industry at different development stages encounter various management problems and that can be solved by the use of digital technology. The growing complexities of modern production enterprises have prompted many companies to consider ERP system selection. No matter what, the cost of such a manufacturing-oriented solution cannot be avoided. As enterprises grow in size and complexity, they require increasingly sophisticated software tools to manage their resources and that’s what leads them to seriously consider an ERP system. How much does it cost to install an...