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Getting Started With Your Own ATM Machine Business

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If you are looking for a hands-off way to make money, you should consider starting an ATM machine business. While an ATM machine business is very enticing, there are certain steps you need to take to help your business reach its full potential. Following these steps can help start you off on the right foot.

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Location is Key

Location is paramount when you are setting up your business. You can’t expect to just put your ATM machines anywhere; a proper location is necessary to ensure your success. Look for a location that has a lot of foot traffic where people need money. Consider places with valet parking or cash-only restaurants. Many of these places will already have an ATM, but it if you do a little hunting you will likely be able to come up with a good spot.

Find a Machine

There are many types of ATM machines and places to find them. You can choose to buy a brand new machine, secure a second-hand one, or lease from a distributor. If you buy a used machine, make sure to have it inspected thoroughly and find out why it is for sale. Buying a machine that needs maintenance could end up costing you a lot of money in the long run. The ATM machine is a significant up-front cost, and could set you back several thousand dollars. This may seem like a big chunk of change, but if you picked a lucrative location you can expect to make it back in several months.

Level of Involvement

You can decide how involved you want to be with the operation of your business. You will choose an ISO to run bank transactions for you, but you can then choose to hire an armored car company to stock your machine with cash, or you can do it yourself. Also decide if you want to be on-call for maintenance requests, or if you would rather hire someone to do that job.

Setting up an ATM machine business isn’t difficult, but it does take some work. If this doesn’t sound like fun to you, there are other ways to make money from home. Internet marketing or home party businesses for women are also popular ways to make money. If the ATM machine business works for you, it is a great way to make an recurring income with very little work.

How Much is Too Much for Corporate Gift Limits?

Recent changes to financial regulations have created complex rules for financial industry compliance. Sarbanes-Oxley and other legislation have made those throughout the industry nervous. A fine line between company confidentiality and transparency must be walked, and one of the most confusing areas is related to corporate gift limits. Companies of all sizes are left to wonder if financial compliance solutions are possible without alienating clients.

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What are Corporate Gifts?

Corporate gifts are small value items provided to customers or vendors. Reasons for giving these items include appreciation for a job well done, gratitude for past business, marketing, or recognizing an accomplishment or holiday. Most companies impose their own corporate gift limits in order to avoid conflicts of interest or fraud.

What Does Compliance Have to Do with Gifts?

In the past, audits and regulators found gifts of large monetary value often influenced business decisions. For example, a procurement VP in a major corporation might ensure a vendor receives the contract for certain supplies in exchange for favors and gifts from the vendor. These acts can lead to unfair business practices, and can also decrease profitability for companies.

How Does a Company Enforce Compliance?

The first step to enforcing rules about corporate gifts is to develop a consistent policy. All team members should be educated regarding the parameters deemed appropriate when accepting gifts. Often, team members without this education will accept inappropriate gifts without realizing the impact. Those in a customer service role may also give inappropriately in an attempt to build a relationship with new clients.

Compliance software is available to help companies track corporate gift-giving and receiving. Software which links to and monitors expense reports for all employees can flag non-compliant entertainment or gifts. Companies can discover fraudulent activity by reviewing these reports, and can also provide coaching to team members who abuse policies with innocent intent. Some software also allows employees to enter gifts received. All companies should require team members to report any gift, no matter how small. By reporting all gifts, employees create a transparency that makes it harder for fraudulent activity to occur.

Without the ability to educate, report, and monitor corporate gift activity, it is impossible for a company to maintain financial compliance solutions.

How To Start An ATM Machine Business

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If you are looking for a way to make some nice monthly income while doing very little work, you probably are considering starting an ATM machine business. This business is highly lucrative if you take the right steps when starting. Knowing how to properly start your ATM business is the first way to succeeding.

Find A Location

Location is everything in the ATM machine business. You should look for a high traffic area where people will be in need of cash. Restaurants and bars with valet parking is a good example of such a location. You may need to be prepared to negotiate usage fees with a location owner for renting the space for your machine. Some owners ask for a flat fee while others desire a percentage of your profits. Finding a good location is tantamount to succeeding with this business, but it is also the most difficult step, as many good spots will already be taken. Be prepared to do thorough research and some sleuthing to find the best location.

Find Your Machines

The next step is to buy your ATM machine. Be prepared to spend several thousand dollars on each machine you purchase. You can often find used machines on the market, but make sure you aren’t skimping on quality just to save a few bucks. Poor quality machines will break much easier, costing you maintenance fees and lost profits. Over time, these costs will add up. It may also be possible to lease a machine, but you should sit down and do the math to make sure you are getting a good deal. Saving money in the long run should be your goal.

Find Your ISO

The ISO, or independent sales organization, is the entity that will process your transactions for you. The ISO handles all interactions with the customer’s bank. There are many types of ISOs, so be prepared to research thoroughly before you choose a company. Be sure to choose one that is reputable and that you enjoy communicating with, as you will likely be in frequent contact during the duration of your business venture.

There are many types of ways to make money from home, such as starting a pet care business or starting a catering business. Like these, the ATM machine business is lucrative, but it requires much less blood, sweat, and tears. Following these guidelines in starting your business will help put you on the right path to a successful business.

Teaching Finance For Non-Financial Managers

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Each organization has its own funds. Be it a school, a hospital, a prestigious company, or even down to the smallest convenience store has fund. Funds literally mean a supply of money, stock, or resources that are set aside for a purpose. There should be an accounting of what goes in and out of an organization to properly keep track of the funding.

Funds when not handled properly can turn into a messy business. Your company may be on the verge of bankruptcy and you don’t even know it because you take bookkeeping or accounting for your costs and merits for granted. You may have been spending more than what you are earning.

This is why teaching finance for non-financial managers is an integral part of the success of a business. How can one have a leadership that gets results when one does not even know how to budget?

Finance is the act of managing funds. It often includes saving money and often lending out money. There are different areas of finance namely business finance, personal finance, and public finance. Finance deals with time, risks, and money and how they are related to each other. It also deals with where and how the money is spent and also how the funds are budgeted. There should be money set aside for savings or for storage at the bank and some are left for any expenses needed by the company.

Accounting of funds should be handled by a specialist especially if the company is a large one. A group of specialists would be better so that if something slips by one, the others can recheck it. More brains at work equals to lesser time spent and lesser mistakes.

The accountants or the ones that handle the funds should not only be the ones who should learn about proper funding. Lessons should be taught on finance for non-financial managers so that they would learn the kind of leadership that gets results. Managers should not just think of how to spend money but also how to save it. For example electricity that isn’t in use should be turned off or excess paper should be recycled. Just because a company is not yours does not mean you need not care about its expenses.

Leaders should set out an example to the members of the organization. They should be the role models that the members can look up to.

Financial Dashboard – Everything You Need to Know

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Financial declaration reports are required in organizations. They reveal the budgetary position of an organization at a given time. Then again, old fashioned financial reports like balance sheets and profit statements are made in a limited length of time in most cases in a year, or month. Though these records are valuable they cannot be employed to watch the monetary situation of a corporation on a regular basis. There’s effective financial reporting software which could do this: the financial performance dashboard.

A dashboard utilizes visual representations of economic numbers in forms of graphs, bars, lines and pictures to indicate the economic status of the business within a glimpse. Anybody within the firm may easily have an understanding of the report as a result of pictures so communication is upgraded.

Since the dashboard may be frequently developed in daily or weekly basis, the management can become aware about any economical complications in the business at once. Suitable corrections may well then be exercised to enhance the circumstance for the organization’s profit. If mistakes are not discovered as soon as possible, the situation may exacerbate and could position the corporation in a major tactical and fiscal downside in the future.

Several monetary scams that included enormous titles in economic field lately are caused by counterfeit routines. They have put a great deal of uncertainties within the brains of the public about the dependability of financial reports produced by corporations for their shareholders. Openness in all of the stages of transactions is expected by stock investors first, just before they’re able to totally have confidence in the business. A particular approach to assist in this end is simply by utilizing executive dashboard reports. Investors simply don’t have confidence in statistical information; but they may gain more confidence with pictures and graphics they can understand.
Undeniably, dashboard reporting is becoming popular in primary firms. The truth is there are numerous dashboard computer programs marketed in the industry today. Each of them enhances a better way of offering the data and much easier management use. In summary, a financial dashboard is really a strong reporting instrument that could present your corporation great advantages which might result in gains in the long term.

Script Splits and Issues

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Sometimes firms offer shareholders three shares in proportion to the shares they own. For example, they may be offered one free share for every share owned. This is the script issue.

Alternatively, the shares are split. For example, every share, par or nominal value one dollar, is replaced by two shares, par or nominal value $.50.

In each case, the market value of the share will fall to half of the previous figure. The idea is that markets recognize a broad range of trading prices for shares. With growing profits and dividends over the years, the share price increases. Sometimes the market feels the new price is inconvenient and deter small shareholders from buying. The theory is that shareholder’s are happier with 100 shares at $50 than 10 shares at $500. If this doesn’t seem logical it is because it is, in fact, quite illogical-it’s pure investor psychology.

For example, UK market like shares in a range, say of £1-£10. Above this level, companies frequently do scripts or splits to bring the price down to a better trading price, one which is thought to lead to a more widespread holding and more liquidity. Thus, in the autumn 1998, the Logica Share price was £20. They did a four for one script issue to bring the price down to 4 pound sterling.

In US, the same idea prevails, but at much higher share price levels. On the continent of Europe, too, shares trade typically at far higher prices than in the UK. When the Paribas was privatized, for example, 3.8 million applied for the shares and received just four each-but the price was about $450. Switzerland is a place where traditionally, shares of the banks, pharmaceutical companies and Nestlé’s have traded at a price equivalent to several thousand dollars. However, the law, which required a minimum legal value of 100 per share, has been altered to lower this to 10 per share. In May 1992, Nestlé’s took advantage of to replace each share, legal value to 100, by 10, with a legal value of 10 each. The effect was to lower the price each from 9600 to 960.

If you liked this financial topic then you might be interested in learning about forex training and the forex practice account.

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