#Global Enterprise Asset Management

[jcmarchi]

3 Questions: Paul Cheek on tactics for new startups

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3 Questions: Paul Cheek on tactics for new startups

Paul Cheek, the executive director of the Martin Trust Center for MIT Entrepreneurship, has firsthand experience leading successful startups. Over the last six years, he has also advised hundreds of MIT entrepreneurs as they have launched their own ventures.

Those experiences have helped Cheek, who is also a senior lecturer at the MIT Sloan School of Management, distill entrepreneurship down to its key components. In a new book, “Disciplined Entrepreneurship: Startup Tactics,” Cheek offers an action-oriented framework to help entrepreneurs turn ideas into successful businesses.

The book, released April 2, serves as a complement to Trust Center Managing Director Bill Aulet’s 2013 book “Disciplined Entrepreneurship,” which has been translated into over 20 languages and served as the basis for three edX courses since its release. A new edition of Aulet’s book was also released in April.

MIT News sat down with Cheek to learn more about his book.

Q: Why write this book?

A: I want to help entrepreneurs get their ideas into the world to have an impact. At MIT, we are focused on impact, and entrepreneurship is one of the ways in which we can take the research, the technology, the science that’s here on campus and push it out to the world to help other people.

Entrepreneurs don’t always know how to execute in the functional areas that allow them to unlock additional resources so they can grow and scale their business. The three things that I hear most often from entrepreneurs are: We need help building a product, we need help building our team, and we need help raising money. My response to that is almost always, “Why should somebody join your team instead of one of the other startups? Why should an investor choose to invest in you instead of another startup? What traction do you have to get there?” Those are the questions that I ask entrepreneurs to consider.

The way they get that traction is through action. That doesn’t just mean building the strategy and the plan for a new business. It means actually taking that plan and getting it out into the real world.

The book covers 15 functional tactics so they can do just enough in each to hit the next milestone. The book is based on the curriculum that we use here at MIT to help entrepreneurs get traction. I want to help entrepreneurs learn this entrepreneurial mindset and skillset for life. We’re not just focused on commercializing research and starting a company today; we want to help them become highly effective individuals throughout their careers, within startups or existing organizations, whether in industry, academia, government, or elsewhere.

Q: How is the book structured?

A: We like to think a lot about entrepreneurial math at the Trust Center and at MIT more broadly. There’s this order of operations known as PEMDAS that’s used to solve math problems. There’s also an order of operations in entrepreneurship, and that’s how “Startup Tactics” is structured. It starts with setting a really strong set of foundations. The first section covers goal-setting and systems you can use to track progress toward those goals.

Everybody thinks they’re good at setting goals until the rubber meets the road. We realize that sometimes goals need to be revised. In a large organization, goals and structure are provided to you. But when you’re an entrepreneur, you need to find your own structure. You have to set your own goals that will help you work toward the long-term vision and avoid investing resources in the wrong places.

Once we have those goals set, we move to market testing. We don’t start by building the product; we start by testing. Does the market want what you believe it does? We discuss how to do primary market research, how to communicate to the world with visual assets the value that you can create for them, and we look at marketing and sales for market testing. Marketing within a large organization is much different than marketing in a day-zero startup.

We also explore how to attract a precise target audience and how to market not a product but a value proposition. Does the market respond when we present a value proposition to them? We look at how to run the first sales process to get customers, and once we have a line of customers waiting down the street, we move into product development.

The saying, “If you build it, they will come” is not generally true in entrepreneurship. We want to build customer lists — people who want what we have — even before we start building the product.

Product development is about taking a really lean approach to designing a product, testing the product with users before we’ve even built it, and then engineering the simplest possible minimum viable business product. Once we have customers waiting in a line down the street and the product built, we go to resource acquisition. Because we have traction, we explore incorporating a startup, dividing equity, building a financial model, building a pitch deck that tells a story, and going through the fundraising and hiring processes as an early-stage startup.

This order of operations is important to entrepreneurs because it allows them to use their resources as effectively as possible and ultimately get to the point where they can get more money and time.

Q: Who is this book written for?

A: “Startup Tactics” is for people who want to have an impact through innovation-driven entrepreneurship. It’s about building a business that has the potential to scale and have global impact. We’re generally looking at high-tech businesses, but “Startup Tactics” is also a process that entrepreneurs can follow to start any type of business.

We take an engineering approach to the entrepreneurial process to improve the odds of success for individuals who are about to pursue the entrepreneurial journey. [Aulet’s book] “Disciplined Entrepreneurship” provides the strategy and framework of entrepreneurship. It tells you what to do and why to do it. My book takes you one step further with the how: how to build a business, how to go from an idea or technology to a business plan, and how to take that plan and put it into the world. What are the actions you need to take?

This comes back to some of those things that I’ve heard most often from entrepreneurs in terms of what they need help with. “Startup Tactics” stems from my experience as an entrepreneur building my businesses, but it’s also a combination of what I’ve heard from other entrepreneurs who are out there building their businesses. A lot of what’s gone into the book is the foundation of the courses that I teach here at MIT: 15.390/15.3901 (New Enterprises) and 15.388 (Venture Creation Tactics). The output of the book is also the result of several iterations of running that course, semester after semester.

What has really stood out as important to me is having an integrated approach. We now have a full-stack entrepreneurship education experience. By that I mean we have the theory of entrepreneurship, the practice of entrepreneurship, and the tactics of entrepreneurship. It’s that integration that best sets entrepreneurs up for success. That’s what I’ve seen from working with so many students.

[michellestanley]

How to Get Unsecured Business Loans with No Collateral: A Guide for Small and Medium Business Owners in Australia

Running a small or medium-sized business in Australia presents many exciting opportunities, but it also comes with challenges. One of the biggest hurdles many business owners face is securing the necessary funds to sustain and grow their operations. Whether you’re looking to expand your business, purchase new equipment, or simply manage cash flow, access to financing is critical.

In Australia, securing a business loan can be difficult, particularly if you don’t have substantial assets to offer as collateral. This is where unsecured business loans can play a crucial role. In this guide, we’ll explore how you can obtain an unsecured business loan without collateral, the advantages and risks involved, and how to navigate the application process.

The Current Economic Landscape in Australia

Before diving into the specifics of unsecured business loans, it’s important to understand the broader economic context in Australia. Small and medium enterprises (SMEs) are vital to the country’s economy, contributing significantly to employment and GDP. However, economic conditions can fluctuate, and businesses often need to adapt to changes such as shifts in consumer demand, inflation, and regulatory changes.

Impact of Economic Changes on SMEs

Recent economic factors, such as global supply chain disruptions, rising inflation, and interest rate adjustments by the Reserve Bank of Australia (RBA), have put pressure on many SMEs. Access to funding has become more crucial than ever for businesses needing financial support to weather economic uncertainties or seize new opportunities.

Unsecured business loans have emerged as a popular financing option for SMEs that either lack the assets to provide as collateral or prefer to avoid tying their property or equipment to their business loan.

Read About - Quick Business Loans

What Are Unsecured Business Loans?

An unsecured business loan is a type of loan that does not require any collateral to back the loan. Unlike secured loans, where borrowers pledge assets such as property, inventory, or equipment, unsecured loans are based primarily on the borrower’s creditworthiness and the strength of the business.

Key Characteristics of Unsecured Business Loans:

No Collateral Required: The most significant feature of an unsecured loan is that you don’t need to offer your assets as security.

Higher Interest Rates: Since lenders take on more risk without collateral, unsecured loans often come with higher interest rates than secured loans.

Shorter Loan Terms: Lenders typically offer shorter repayment terms to minimize their risk exposure.

Creditworthiness is Key: Lenders will focus on your business's financial health, revenue, and credit score when evaluating your loan application.

How to Qualify for an Unsecured Business Loan with No Collateral

Securing an unsecured loan without collateral may seem challenging, but many businesses in Australia successfully obtain this type of financing. Here’s a step-by-step guide to increase your chances of approval:

1. Understand Your Business Financials

Before applying for any loan, it’s essential to have a clear understanding of your business’s financial health. Lenders will examine your financial records closely to assess your ability to repay the loan.

Review Financial Statements: Ensure that your profit and loss statements, balance sheets, and cash flow statements are up to date and accurate.

Calculate Debt-to-Income Ratio: This ratio compares your total business debts to your revenue. A lower ratio indicates better financial stability and can improve your chances of approval.

Prepare Tax Returns: Lenders often request several years of tax returns to verify your income and profitability.

2. Build and Maintain a Good Credit Score

Your credit score is one of the most important factors that lenders consider when reviewing your application. It reflects your ability to manage debt responsibly. Both your personal and business credit scores may be evaluated.

Pay Bills on Time: Ensure that you make all business payments, including suppliers and utilities, on time to avoid negative marks on your credit report.

Reduce Outstanding Debts: The lower your outstanding debts, the better your credit score will be.

Monitor Your Credit: Regularly check your business credit report to ensure there are no errors or discrepancies that could harm your score.

3. Demonstrate Steady Cash Flow

Lenders are more likely to approve loans for businesses with a consistent and reliable cash flow. A steady stream of income demonstrates that your business has the ability to repay the loan over time.

Track Sales and Revenue: Use accounting software to maintain accurate and detailed records of your business’s sales and revenue patterns.

Seasonal Adjustments: If your business experiences seasonal fluctuations in income, provide explanations and evidence of how you manage these periods to maintain financial stability.

4. Prepare a Strong Business Plan

A well-structured business plan can help convince lenders that you’re a low-risk borrower. Your plan should outline your business goals, market strategies, and how you intend to use the loan to achieve growth or stability.

Include Revenue Projections: Show lenders how you plan to generate revenue and ensure the loan will be repaid.

Detail Your Loan Purpose: Clearly explain why you need the loan and how it will benefit your business (e.g., purchasing inventory, hiring staff, or expanding operations).

5. Explore Lenders Specializing in Unsecured Loans

Not all lenders offer unsecured loans, so it’s essential to identify financial institutions that provide this type of financing. Alternate business lenders are often more flexible than traditional banks and may be willing to lend to businesses without collateral.

Online Lenders: Many online lenders cater to small and medium businesses, offering quick approval processes and competitive terms for unsecured loans.

Peer-to-Peer Lending Platforms: These platforms connect businesses directly with investors, allowing for more flexibility in terms and conditions.

Specialized SME Lenders: Some lenders focus specifically on providing loans to SMEs, and they may offer tailored solutions for businesses without collateral.

The Application Process for Unsecured Business Loans

1. Gather Necessary Documentation

Lenders will require a variety of documents to assess your loan application. Be prepared to provide:

Financial Statements: Profit and loss, balance sheets, and cash flow statements for the past 1-2 years.

Tax Returns: Personal and business tax returns from the last few years.

Bank Statements: Business bank statements for the past 6-12 months.

Business Plan: An overview of your business, market strategies, and financial projections.

2. Complete the Loan Application

Once you’ve gathered the necessary documents, fill out the lender’s loan application. Be sure to:

Provide Accurate Information: Double-check that all details are correct, as any errors or inconsistencies could delay the approval process.

Be Honest: Be transparent about your financial situation and the purpose of the loan.

3. Wait for Approval and Review Terms

After submitting your application, the lender will review your financial information and credit history. If approved, carefully review the loan terms, including:

Interest Rate: Compare the rate offered to other lenders to ensure it’s competitive.

Repayment Schedule: Understand the repayment terms and make sure they’re manageable for your business.

Fees and Charges: Be aware of any hidden fees, such as early repayment penalties or administrative charges.

Advantages and Disadvantages of Unsecured Business Loans

Advantages:

No Collateral Required: You can obtain financing without putting your personal or business assets at risk.

Faster Approval: Since unsecured loans don’t require collateral evaluation, they often have quicker approval processes.

Flexibility: Many unsecured loans offer flexible terms that can be tailored to your business’s unique needs.

Disadvantages:

Higher Interest Rates: Lenders compensate for the increased risk by charging higher interest rates compared to secured loans.

Lower Loan Amounts: Since unsecured loans don’t involve collateral, lenders may limit the amount you can borrow.

Shorter Repayment Terms: To reduce risk, lenders may offer shorter repayment periods, leading to higher monthly payments.

Best Practices for Managing Unsecured Loans

1. Create a Repayment Plan

Once you’ve secured the loan, it’s crucial to establish a clear repayment strategy. This will help you stay on top of your loan payments and avoid financial difficulties.

Budget for Loan Payments: Include your loan payments in your monthly budget and ensure that you have enough cash flow to cover them.

Set Up Automatic Payments: Automate your loan payments to avoid missed deadlines and penalties.

2. Monitor Loan Impact on Cash Flow

Track how the loan affects your business’s cash flow. Ensure that the loan is being used efficiently and generating a return on investment.

Track Spending: Monitor where the loan funds are allocated to ensure they’re contributing to business growth.

Adjust Budgets if Necessary: If the loan payments are straining your cash flow, adjust other areas of your budget to stay financially healthy.

Conclusion

Obtaining an unsecured business loan with no collateral can be a game-changer for small and medium businesses in Australia. Whether you’re looking to expand operations, manage cash flow, or cover unexpected expenses, unsecured loans provide a flexible and accessible option for financing.

In Australia’s evolving economic landscape, understanding your business’s financial health, maintaining a strong credit score, and preparing a solid business plan are key to securing financing. With various lenders, including alternate business lenders, providing unsecured loan options, you can find the right solution for your business needs.

If your business faces a sudden financial crisis, options like same day business loans or emergency business loans can provide quick access to the capital you need. By planning carefully and understanding the terms of your loan, you can leverage unsecured business loans to help your business thrive without putting your assets at risk.

[mariacallous]

It only took a jury four hours to decide that former FTX CEO Sam Bankman-Fried had committed large-scale fraud—and that included their dinner break. Leading politicians, investors, and observers, not to mention a number of high-profile journalists, in contrast, managed to stay oblivious to it for years. Two recent books illustrate how and why he got away with it, at least for a while.

The first one, Going Infinite: The Rise and Fall of a New Tycoon by Michael Lewis, illustrates it by example. Early reviews alerted me that the book took a charitable view of SBF and his enterprise, and yet I still struggled to believe what I was reading as I started making my way through it. The preface is a flashback to 2021. Interesting, I thought—Lewis is taking us back to the day when he fell for SBF’s narrative of crypto-fueled do-goodery. That assessment was overly optimistic.

The first real chapter of the book is a litany of examples of Bankman-Fried behaving like an unbearable, childish jackass who lies a lot … written in the manner of a hagiography. “The funny thing about these situations was that Sam never really meant to cause them.” Lewis writes. “He didn’t mean to be rude. He didn’t mean to cause chaos in other people’s lives. … With him it was never personal. If he stood you up, it was never on a whim, or the result of thoughtlessness. It was because he’d some math in his head that proved that you weren’t worth the time.”

It does not improve much from there. Somehow, the villain of his book is John Ray, the current FTX CEO, who was appointed after the crypto exchange’s bankruptcy, and whose filings suggest that he has made significant progress in recovering missing customer funds.

The second book, Easy Money: Cryptocurrency, Casino Capitalism, and the Golden Age of Fraud by Ben McKenzie with Jacob Silverman, illustrates Bankman-Fried’s rise and fall by painting a picture of the whole crypto industry as a hive of scams and villainy. Its basic argument runs as follows. Loose monetary policy after the global financial crisis of 2007-09 and bailouts of chunks of the financial industry produced a context of distrust that facilitated the creation of cryptocurrencies as an alternative to sovereign money.

A new wave of easing was set loose when the COVID-19 pandemic triggered an economic crisis and led to a situation where asset bubbles were more likely. The main bubble that flourished was crypto, and with bubbles come fraudulent schemes—or so the story goes.

The juxtaposition of the two stories highlights an interesting aspect of SBF’s rise and fall: the class markers that convinced those around him that he was a genius, not a spoiled con artist. Sure, macroeconomic conditions mattered. In response to concerns about currency debasement and expansionary monetary policy as drivers of cryptomania, I would make note of the generous U.S. fiscal response to the pandemic that gave households plenty of cash to speculate with, as well as the boredom of especially the first months of the pandemic. I ended up watching all of the films Jeanne Dielman and Sátántangó for the first time; far be it from me to blame people for turning to drinking or gambling.

But macroeconomic conditions alone do not account for Lewis’s sympathetic approach to SBF. Lewis wrote The Big Short! The heroes of that story are the likes of Steve Eisman and Meredith Whitney, not Joseph Cassano and Howie Hubler: the people who saw through the bubble, not the people who gambled and lost. A Going Infinite­-style account of the global financial crisis would find a man who behaved obnoxiously while assigning incorrect ratings to collateralized debt obligations and treat him sympathetically, if not admiringly. And that’s even before we get to the fraud that Bankman-Fried so clearly committed.

While the macroeconomic context may offer a partial explanation for the crypto bubble, it does not explain why Lewis and many others admired SBF the way they did. Nor do the regular features of every bubble—the fact that lots of money is involved, or that riding a bubble until (just before) it bursts can be very profitable, while shorting one is difficult.

A number of idiosyncratic characteristics of the crypto bubble, and of SBF and his firm, may better explain their appeal. First, there is the nature of the technology—can we say of the securities?—itself. While the underlying assets in the global financial crisis were tangible, cryptocurrencies, with their reliance on algorithms and distributed consensus and proof-of-work or proof-of-stake mechanisms, are very much unlike real estate. Who are we to doubt those who know magic?

There was a deep conviction among those who didn’t understand crypto that there must be something to making money out of thin air, even as skeptics pointed out that it was, in fact, just as stupid as it sounded.

All that was happening was large-scale gambling: Will the price of Dogecoin, featuring the face of a Shiba Inu dog, continue to go up? Will the official cryptocurrency of the Cameroonian separatist entity of Ambazonia appreciate further? What will this non-fungible token representing Twitter co-founder Jack Dorsey’s first tweet sell for tomorrow? Nothing but a continued inflow of speculative cash could keep these bets afloat; no value or income was being generated by the underlying technologies.

Then there was the ideological edge of the movement. While the housing bubble was aligned with a political push to promote homeownership and a broader ownership society, those ideas never inspired the kind of commitment that crypto does among its biggest fans. That commitment is fueled by skepticism of government-issued currencies and an appreciation of some level of privacy (or an even more hard-line libertarian attraction to the ability to pay for illegal goods and services, or to evade taxes).

McKenzie highlights a related aspect of the crypto craze: its cultlike nature. The loss of trust in traditional financial institutions that he diagnoses created a desire for community that manifested itself in the creation of multilevel marketing (MLM) dynamics of enthused individuals spreading the gospel of the new currencies. The get-togethers and online communities that he describes in the fourth chapter of his book highlight how this works in practice—a world where “being scammed is a necessary educational experience in order to be reborn in the community of the free.”

For a more recent illustration of the bizarre groupings forming around blockchain technology, I refer you to a Bored Ape Yacht Club event that took place in Hong Kong earlier this month, where attendees who had paid thousands of dollars to say they owned digital art of an ape gathered to accidentally get blinded, reportedly by shoddy ultraviolet lights. Cryptocurrencies and related technologies are better suited for MLM schemes, because unlike mortgage derivatives, retail investors can easily access this gambling technology.

But to some extent, all of that was for the rubes, and SBF was playing at a very different level—one where he was able to con people as smart as Lewis. The cult-like scene most important to SBF’s appeal to intellectuals was a different one: the world of so-called effective altruism.

This is a movement focused, at least in theory, on doing good effectively and efficiently. It is associated with ideas ranging from the purely altruistic—such as kidney donations—and the relatively uncontroversial—cost-benefit analysis: dollar for dollar, do mosquito nets save more lives than water sanitation projects?—to more speculative ones, such as an emphasis on long-term catastrophic risk and “earning to give.”

Assessments of existential risk often come down to calculations involving small, hard-to-estimate probabilities, as well as difficult decisions around modeling uncertainty and the relative value of benefits enjoyed by future generations. This leaves a lot of room for rigging the numbers—especially when science-fiction fantasies about the impact on future generations come into play. Why eradicate malaria today when you could save billions of lives in the future from the threat of super-intelligent artificial intelligence—by investing in a buddy’s project?

That suspicion was not alleviated by the calculations a prominent effective altruist produced to show that donating $50 million to his buddy’s congressional campaign would serve humanity better than donating it to various charitable purposes. Earning to give, which SBF claimed to engage in, is the idea that instead of working directly toward one’s cause, one should maximize one’s earnings and use the proceeds for good.

This should, of course, trigger at least two concerns. One, how do you commit to using the proceeds that way as opposed to channeling them to your relatives? Two, once you place yourself at a remove from the good works, what constraints remain? Does consequentialism force you to violate rules, norms, and basic accounting standards?

Effective altruism is important to the story of FTX both directly—Bankman-Fried recruited a good number of self-described effective altruists to work for his firm, and he used the network to raise money for his crypto exchange—and for our purpose of figuring out why SBF was and remains so appealing to at least some outside observers.

A few examples: In May 2022, commentator Matthew Yglesias wrote a piece titled “Understanding Effective Altruism’s move into politics” with the subheading “SBF is for real,” a judgment based, among other things, on the academic work of Bankman-Fried’s mother: “SBF was raised by a leading consequentialist moral theorist.”

Writing for the New Yorker, Gideon Lewis-Kraus argued earlier this month that “one can’t help but feel like the existence of the trial, as necessary as it is, seems a little arbitrary” because Bankman-Fried might well have gotten away with his crimes. Perhaps long-termism, taken to an extreme, leads one to think that of life as a mere game of probabilities without real stakes, not unlike the video games that he so obnoxiously used to play (not very well) during video calls.

Either way, effective altruism gave SBF, and crypto with it, a veneer of respectability that it might not have had otherwise. The alternatives, like the argument that the purpose of our large-scale gambling is to give the unbanked access to financial services, were not an easy sell.

The effective altruism connection does not matter solely because of the ideas and human resources it brought SBF. The movement is one with close ties to elite academia, associated with academics such as Will MacAskill at the University of Oxford, who served on the board of a grantmaking operation funded by FTX and was a close SBF associate, or Peter Singer at Princeton University. Bankman-Fried’s father is a professor at Stanford Law School, though he also worked for FTX for 11 months. His mother is a professor emeritus at Stanford Law School, where she specialized in the field of legal ethics, such as it is.

These connections—and these are certainly not the only ones—may explain some of the sway that SBF had over America’s intellectuals. “None of what the Bankman-Frieds did was for show; they weren’t that kind of people,” writes Michael Lewis.

FTX’s post-bankruptcy lawyers allege that the couple enriched themselves by accepting $26.4 million from their son. Surely our kind of people wouldn’t do such a thing.

[elsa16744]

Building a Robust Data Governance Framework: Best Practices and Key Considerations  

A good framework for data governance compliance assists organizations in ensuring data security. As a result, they can combat cybersecurity risks and fulfill regulatory requirements for responsible enterprise data operations. This post will focus on building a relevant, outcome-oriented data governance framework and strategy. 

A comprehensive strategy will help protect an organization’s digital assets from different data breaches. Global brands want to avoid reputational damage and regulatory penalties by picking up governance initiatives. However, they seek reliable compliance approaches to maximize the value of data. That is why they want to know how to foster data etiquette for accuracy, timely access to insights, and relevance to business decisions. 

Best Practices and Key Considerations for Building an Effective Data Governance Framework 

1. Clearly Communicating Process Objectives and Data Ownership 

Before a data governance framework is implemented, the objectives need to be clearly defined. What is the organization aiming to achieve by employing a data governance company? Some objectives may include the following. 

-          better quality of information, 

-          regulatory compliance, 

-          data-driven decision-making (DDDM). 

These goals will determine the governance framework’s structure. 

It also becomes very important to define data asset ownership. The data governance team, led by a data governance officer (DGO), must be held responsible for this. Those data professionals will develop data access and usage policies. They will also monitor data quality and address data-related issues across the entire organization. 

2. Drafting Comprehensive Data Protection and Anti-Espionage Policies 

A good data governance framework is based on well-articulated policies and standards. Those documents will guide data solutions and management practices, helping the firms and their suppliers. Such policies should define the most important compliance areas. 

Considerations must include unbiased data classification and 24/7 security incident tracking. Moreover, privacy assurance assessments may be conducted. A broader data lifecycle management (DLM) vision can further streamline governance compliance efforts. Companies must also establish user permission standards. They will help allow access to data only if authorized personnel submit requests to their respective superiors. Similar access controls help prevent corporate espionage actors from entering IT systems and compromising sensitive business intelligence. 

The policies developed should be flexible. After all, you will need to modify business governance frameworks. Otherwise, you cannot keep up with the regulators’ amendments to applicable laws. 

3. Focus on Data Quality and Integrity 

Ensuring data quality and integrity is very fundamental to data governance. Remember, inaccurate data leads to poor decisions. It inevitably results in misaligned strategies, causing inefficiencies in business activities. Therefore, data validation rules must be implemented. You want to encourage regular integrity audits based on those rules. Furthermore, adequate data cleansing practices will help ensure businesses’ dataset accuracy and reliability. 

Consider data stewardship programs. It involves a competent individual or a team assuming responsibility for the quality of specific data assets. 

4. Leverage Technology for Scalability and Automation 

Data management can be enhanced by using modern technologies. Newer data governance platforms, artificial intelligence, and automation tools will aid you in improving governance compliance. These technologies will, therefore, make it easier to automate the tracking of data changes. Many tools also enforce governance policies. So, users can bypass the manual work of optimizing data protection measures based on the organization’s growth. 

Conclusion 

Building a strong data governance framework will demand definite objectives. Leaders will want to develop cross-functional collaborative environments to promote data ethics and integrity policies. 

Accordingly, the best compliance assurance practices involve defining data ownership, ensuring data quality, and using novel technology. These measures would help organizations protect their data assets. Their superior compliance levels also make them attractive to more investors. 

A robust data governance framework and compliance strategy does not just mitigate risk. Rather, it would deliver strategic success while respecting regulatory and consumer values concerning privacy. 

[digitaldetoxworld]

Anil Ambani: Navigating Success and Challenges in India's Business Arena biography and career achievements

Anil Ambani biography and career achievements is an Indian businessman and a distinguished determine in the u . S .'s company global. Born on June 4, 1959, he is the more youthful brother of Mukesh Ambani, the chairman and biggest shareholder of Reliance Industries. Anil Ambani is known for his role inside the Reliance Group, a conglomerate that spans a couple of sectors along with telecommunications, electricity, infrastructure, and monetary services. His adventure inside the commercial enterprise global is marked by using both sizable achievements and extraordinary challenges.

Early Life and Education

Impact of Anil Ambani’s leadership on Reliance Jio turned into born into a own family with a robust business background. His father, Dhirubhai Ambani, based Reliance Industries in 1966, which might develop to come to be certainly one of India's largest conglomerates. Anil Ambani pursued his education at Mumbai's well-known Kishinchand Chellaram College, where he earned his degree in Commerce. He then went on to study at the Wharton School of the University of Pennsylvania, where he acquired an MBA.

Career Beginnings and the Formation of Reliance Anil Dhirubhai Ambani Group

Anil Ambani role in transforming Indian telecommunications sector"started out his career operating in the own family enterprise, studying the intricacies of dealing with a big business enterprise. In 2002, following the death of Dhirubhai Ambani, the Reliance Group turned into divided among Anil and Mukesh Ambani. Anil Ambani obtained manage of the newly fashioned Reliance Anil Dhirubhai Ambani Group (ADAG), which turned into hooked up to handle a number of industries.

Under Anil's management, ADAG improved rapidly into numerous sectors. The institution varied into telecommunications, with the release of Reliance Infocomm (now Reliance Jio). This mission revolutionized the Indian telecom region with its aggressive pricing and vast network coverage. It is vision helped position Reliance Jio as one of the leading telecommunications groups in India, gambling a vital function in making records services greater affordable and on hand to tens of millions of Indians.

Expansion into Power and Infrastructure

In addition to telecommunications, focused on strength technology and infrastructure improvement. Reliance Power turned into hooked up to faucet into the growing energy needs of India. The business enterprise undertook numerous ambitious projects, which include the improvement of coal-based electricity flowers and different power resources. Reliance Infrastructure, another arm of ADAG, centered on infrastructure development, inclusive of roads, airports, and metro structures.

These ventures have been part of Anil Ambani’s broader imaginative and prescient of contributing to India’s monetary increase by means of addressing critical infrastructure and electricity needs. His strategy concerned making an investment in big-scale tasks and leveraging the organization’s economic energy to power improvement throughout various sectors.

Financial Challenges and Restructuring

Despite the preliminary achievement, Anil Ambani and the ADAG confronted good sized economic challenges in the later years. The organization’s formidable growth brought about high ranges of debt, and international economic downturns impacted its operations. The corporation's financial troubles have been compounded via growing hobby quotes and economic slowdowns.

By the mid-2010s, ADAG became grappling with widespread debt and financial stress. This situation led to a sequence of restructuring efforts, along with asset income and attempts to renegotiate debt phrases. The institution struggled to maintain its previous boom trajectory, and several of its projects confronted delays and value overruns.

They monetary difficulties have been in addition exacerbated by using criminal and regulatory demanding situations. The organization turned into involved in diverse legal battles, which include issues related to company governance and regulatory compliance. These challenges affected the overall belief of ADAG and its monetary balance.

Legacy and Impact

Despite the economic problems, Anil Ambani’s contributions to India's business landscape remain noteworthy. His position in transforming the telecommunications area with Reliance Jio is a massive success. The creation of lower priced information offerings has had a profound impact on India's virtual economy, contributing to accelerated internet penetration and digital inclusion.

In the infrastructure quarter, ADAG’s investments in roads, electricity, and metro systems have contributed to the improvement of crucial infrastructure in India. These tasks have had a long-lasting effect on city development and financial boom in diverse areas.

It philanthropic efforts are also really worth mentioning. The Anil Dhirubhai Ambani Foundation, hooked up via the Ambani family, has been concerned in diverse charitable sports, which include education, healthcare, and catastrophe comfort. The foundation’s initiatives purpose to cope with social problems and support underprivileged groups.

Recent Developments and Future Outlook

In current years, Anil Ambani and the ADAG have endured to awareness on restructuring and realigning their commercial enterprise operations. The organization has sought to streamline its portfolio, divesting from non-center assets and focusing on key areas of increase. Efforts to reduce debt and enhance monetary balance continue to be a concern.

Financial challenges faced by Anil Ambani’s Reliance Anil Dhirubhai Ambani Group The broader monetary and enterprise surroundings in India, such as authorities rules and marketplace traits, will play a vital function in shaping the future of ventures. As the Indian financial system continues to conform, opportunities and demanding situations will emerge, influencing the strategic path of the Reliance Anil Dhirubhai Ambani Group.

[layninboritas]

SOURCE PROTOCOL

SOURCE is building limitless enterprise applications on a secure and sustainable global network. Defi white-labelled services, NFT markets, RWA tokenization, play-to-earn gaming, Internet of Things, data management and more. SOURCE is providing blockchain solutions to the real world and leveraging the power of interoperability.

SOURCE competitive advantages over other blockchain projects

For builders & developers — Source Chain’s extremely high speeds (2500–10000+ tx / per second), low cost / gas fees ($0.01 average per tx), and scalability (developers can deploy apps in multiple coding languages using CosmWasm smart contract framework), set it apart as a blockchain built to handle mass adopted applications and tools. Not to mention, it’s interoperable with the entire Cosmos ecosystem.

For users — Source Protocol’s DeFi suite is Solvent and Sustainable (Automated liquidity mechanisms create a continuously self-funded, solvent and liquid network), Reduces Complexity (we’re making Web 3.0 easy to use with tools like Source Token which automate DeFi market rewards), and we’ve implemented Enhanced Security and Governance systems (like Guardian Nodes), which help us track malicious attacks and proposals to create a safer user environment.

For Enterprises — Source Protocol is one of the first to introduce DeFi-as-a-Service (DaaS) in order for existing online banking and fintech solutions to adopt blockchain technology with ease, and source also provides Enterprise Programs which are complete with a partner network of OTC brokerages, crypto exchanges, and neobanks that create a seamless corporate DeFi experience (fiat onboarding, offboarding, and mutli-sig managed wallets)

Why Source Protocol

Firstly, many protocols are reliant on centralized exchanges for liquidity, limiting their ability to scale independently. This creates a lot of the same issues traditional finance has been plagued with for decades.

Next — slow tx speeds, high costs, limited scalability, and inability to collaborate with other chains, has created severe limitations in Gen 2 blockchain infrastructure.

Lastly, there still exists a level of complexity in blockchain applications that remains a barrier to entry for the average user, and there is not enough focus on building “bridges” for the enterprise to adopt this technology easily and quickly.

In summary, consumers are eager for a blockchain ecosystem that can securely and sustainably support mass adopted applications. That’s why we’ve built Source!

Source Protocol’s ecosystem

Source Protocol’s ecosystem includes a full DeFi Suite, a members rewards program and white-label integration capabilities with existing online Web 2.0 enterprises:

Source Swap — An Interchain DEX & AMM built on Source Chain for permission-less listing of $SOURCE-based tokens, native Cosmos SDK assets, cw-20’s, and wrapped Binance Smart Chain (BEP-20) assets.

Source One Market — A peer to peer, non-custodial DeFi marketplace for borrowing, lending, staking, and more. Built on Binance Smart Chain with bridging to Source Chain & native Cosmos SDK assets.

Source Token $SRCX (BEP-20) — the first automated liquidity acquisition and DeFi market participation token built on Binance Smart Chain.

Source One Token $SRC1 (BEP-20) — a governance and incentivized earnings token that powers Source One Market.

Source USX $USX (BEP-20) — Source One Market stablecoin backed and over collateralized by a hierarchy of blue chip crypto assets and stablecoins.

Source Launch Pad — Empowering projects to seamlessly distribute tokens and raise liquidity. ERC-20 and BEP-20 capable.

Source One Card & Members Rewards Program — users can earn from a robust suite of perks and rewards. In the future, Source One Card will enable users to swipe with their crypto assets online and at retail locations in real time.

DeFi-as-a-Service (DaaS) — Seamless white-label integration of Source One Market, Source Swap, Source Launch Pad, and/or Source One Card with existing online banking and financial applications, allowing businesses to bring their customers DeFi capabilities.

Source Protocol Key Components

Sustainable Growth model built for enterprise involvement and mass application adoption

Guardian Validator Nodes for enhanced network security

Integration with Source Protocol’s Binance Smart Chain Ecosystem and Decentralized Money Market, Source One Market

Source-Drop (Fair community airdrop and asset distribution for ATOM stakers and SRCX holders)

Interoperable smart contracts (IBC)

High speed transaction finality

Affordable gas fees (average of $0.01 per transaction)

Highly scalable infrastructure

Open-source

Permission-less Modular Wasm + (EVM)

Secured on-chain governance

Ease of use for developers

conclusion

SOURCE is a comprehensive blockchain technology suite for individuals, enterprises and developers to easily use, integrate and build web3.0 applications. It is a broad-spectrum technology ecosystem that transforms centralized web tools and financial instruments into decentralized ones. Powering the future of web3,

Next — slow tx speeds, high costs, limited scalability, and inability to collaborate with other chains, has created severe limitations in Gen 2 blockchain infrastructure.

Lastly, there still exists a level of complexity in blockchain applications that remains a barrier to entry for the average user, and there is not enough focus on building “bridges” for the enterprise to adopt this technology easily and quickly.

In summary, consumers are eager for a blockchain ecosystem that can securely and sustainably support mass adopted applications. That’s why we’ve built Source!

For More Information about Source Protocol

Website: https://www.sourceprotocol.io

Documents: https://docs.sourceprotocol.io

Twitter: https://www.twitter.com/sourceprotocol_

Instagram: https://www.instagram.com/sourceprotocol

Telegram: https://t.me/sourceprotocol

Discord: https://discord.gg/zj8xxUCeZQ

Author

Forum Username: Java22

Forum Profile Link: https://bitcointalk.org/index.php?action=profile;u=3443255

SOURCE Wallet Address: source1svnzfy5fafuskeaxmf2sgvgcn6k3sggmssl8d7

[monisha1199]

Maximizing ROI: The Cost-Effectiveness of Amazon Web Services (AWS)

In today's digitally driven landscape, cloud computing has become synonymous with innovation and operational efficiency for businesses worldwide. Among the plethora of cloud service providers, Amazon Web Services (AWS) stands tall, offering an extensive suite of tools and solutions to empower organizations on their path to digital transformation. This in-depth exploration navigates through the core features, advantages, and transformative impact that AWS brings to businesses of all sizes.

Introducing Amazon Web Services (AWS)

Amazon Web Services, commonly referred to as AWS, is a cloud computing platform introduced by Amazon.com in 2006. Since its inception, AWS has redefined the accessibility and utilization of computing resources, storage solutions, and an array of IT services. Its distinguishing factors lie in its unmatched scalability, reliability, and diverse service offerings, making it the preferred choice across industries, from startups to enterprise-level corporations and government entities.

Scalability: Harnessing Elasticity for Dynamic Growth

AWS's hallmark feature is its elastic scalability, empowering businesses to seamlessly adjust their computing resources according to fluctuating demands. With AWS, organizations can effortlessly scale their infrastructure up or down, ensuring optimal performance and cost efficiency. Whether handling sudden spikes in website traffic or launching new applications, AWS provides the agility necessary to respond swiftly to evolving business needs.

Reliability: Building Upon a Foundation of Resilience

Reliability is a cornerstone of cloud computing, and AWS excels in this domain. By leveraging multiple data centers distributed across different geographic regions, AWS offers a highly redundant infrastructure, minimizing the risk of downtime and ensuring uninterrupted service availability. Through the strategic distribution of workloads across various availability zones, AWS provides inherent fault tolerance, enabling businesses to achieve exceptional levels of reliability for their critical applications and services.

Cost-effectiveness: Maximizing Value with Flexible Pricing Models

In a competitive market, cost optimization is paramount for businesses. AWS's pay-as-you-go pricing model enables organizations to pay solely for the resources they consume, eliminating the need for upfront investments in hardware or long-term commitments. This flexible pricing structure, coupled with robust cost management tools like AWS Cost Explorer and AWS Budgets, empowers businesses to manage their cloud expenditures effectively and optimize return on investment (ROI).

Security: Fortifying Digital Assets with Comprehensive Protections

Security is a top priority in the cloud, and AWS places great emphasis on it. Through stringent security measures such as encryption, access controls, and network security protocols, AWS provides a secure environment for sensitive data and critical workloads. Additionally, AWS offers compliance certifications tailored to various industry standards, ensuring that businesses can meet regulatory requirements seamlessly. Whether safeguarding customer data or protecting intellectual property, AWS instills confidence through its commitment to best-in-class security practices.

Diverse Service Portfolio: Enabling Innovation Across Industries

AWS boasts a diverse and extensive service portfolio, catering to a myriad of use cases and industry verticals. From foundational services like compute instances (EC2) and storage solutions (S3) to advanced offerings such as machine learning (Amazon SageMaker) and Internet of Things (IoT) platforms, AWS provides the essential tools needed to drive innovation and unlock new opportunities. Whether developing mobile applications, analyzing vast datasets, or deploying global e-commerce platforms, AWS offers the comprehensive suite of services to support diverse business objectives.

Flexibility and Customization: Tailoring Solutions to Unique Needs

A key strength of AWS lies in its flexibility and customization capabilities. With a vibrant ecosystem of third-party integrations and tools, AWS empowers businesses to tailor their cloud environments to align with specific requirements. Whether implementing hybrid cloud architectures, adopting DevOps practices, or integrating seamlessly with existing IT systems, AWS offers the flexibility necessary to adapt and innovate within the dynamic business landscape.

Conclusion: Embracing the Future with AWS

In summary, Amazon Web Services (AWS) transcends the realm of mere cloud computing—it serves as a catalyst for innovation, efficiency, and growth. With its unmatched scalability, reliability, cost-effectiveness, security measures, and diverse service portfolio, AWS empowers businesses to realize their full potential in the digital age. Whether aspiring to disrupt markets as a startup or striving for operational excellence as an enterprise, AWS provides the indispensable tools and services to transform visions into reality. Embrace the future of cloud computing with AWS and embark on a journey of endless possibilities.

[b2bemaillistuk]

Ready Mailing Team's Brazil Email List helps manage your business in Brazil

In the ever-expanding global marketplace, Brazil emerges as a promising frontier, teeming with opportunities across diverse industries. However, the path to success in Brazil's dynamic business landscape requires strategic navigation and targeted engagement. Enter Ready Mailing Team's Brazil Email List—a powerful asset designed to unlock the vast potential of Brazil's business landscape and lead your endeavors towards prosperity.

Crafted with meticulous attention to detail and updated regularly for accuracy, our Brazil Email List serves as a comprehensive repository of authentic and verified email addresses representing various industries, regions, and interests across Brazil. Here's how our database can catalyze your journey to success:

Precision Targeting: Seamlessly navigate Brazil's diverse market segments with precision targeting capabilities. Our Brazil Email List enables you to segment prospects based on demographics, interests, and behaviors, ensuring that your messages resonate with the right audience segments.

Engagement Excellence: Foster genuine connections with your audience through personalized communication strategies. By delivering tailored content and offers directly to their inboxes, you can capture attention, foster trust, and nurture enduring relationships with your Brazilian clientele.

ROI Maximization: Optimize your marketing investments for maximum impact and returns. With Ready Mailing Team's Brazil Email List, you can focus your resources on high-potential leads within Brazil's expansive market, driving measurable results and sustainable business growth.

Ethical Integrity: Rest assured that your data practices adhere to the highest ethical standards. Our Brazil Email List is ethically sourced and complies with all relevant data protection regulations, ensuring the privacy and integrity of your audience's information.

Strategic Insights: Gain invaluable intelligence into market trends, consumer behaviors, and competitive landscapes. Armed with actionable insights from our Brazil Email List, you can make informed decisions and stay ahead of the curve in Brazil's ever-evolving business environment.

Ready Mailing Team's Brazil Email List isn't just a resource—it's your strategic ally in unlocking Brazil's business potential and achieving sustainable growth. Whether you're an established enterprise or a burgeoning startup, our solution equips you with the tools and insights needed to navigate Brazil's market intricacies and chart a course towards prosperity.

Embark on your journey to success in Brazil with Ready Mailing Team's Brazil Email List as your trusted guide. Explore new opportunities, forge meaningful connections, and unlock the door to unparalleled success in one of the world's most promising markets. Your path to prosperity awaits.

[allthebrazilianpolitics]

AI Shows Signs of Maturity, Expansion in Brazil

Brazilian enterprises are turning to providers to help them adopt a more flexible, effective approach to managing data assets, ISG Provider Lens™ report says

Following high hopes and great expectations, the long-promised revolution in artificial intelligence has finally arrived in Brazil, according to a new research report published today by Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm.

The 2023 ISG Provider Lens™ Analytics Services report for Brazil finds the transformation of companies using AI is in full swing in Brazil and is expanding at a surprising rate and scale. Virtually every function has a solution capable of automating processes, reducing costs, mitigating risks, generating additional revenue or enabling better decision-making, the ISG report says.

“There is a steady increase in AI applications and AI-enabled business capabilities used across various company departments, processes and sectors,” said Shriram Natarajan, ISG director, Industry Transformation and Applied AI. “The leading providers have a clear vision of how their solutions can positively transform the businesses of their clients.”

Companies in Brazil are placing greater emphasis on data quality, with the understanding that the quality of their models hinges on the quality of the data that goes into them, the ISG report says. As a result, there is a growing demand for applications exclusively dedicated to handling data assets, the report says.

Continue reading.

[govindhtech]

IBM Maximo AWS Deployment Strategies

The Business Value of IBM Maximo, a recent IDC report that surveyed 9 companies with an average of 8,500 employees, found that adopting IBM Maximo resulted in a business benefit of USD 14.6 million per year per organization, 43% less unplanned downtime, and USD 8.6 million in total equipment cost avoidances.

One comprehensive, cloud-based application platform for asset monitoring, management, predictive maintenance, and reliability planning is IBM Maximo Application Suite (MAS). Maximo optimizes performance, extends asset lifecycles, and reduces downtime and costs for high-value assets using AI and analytics. Hosting Maximo on a scalable infrastructure maximizes performance, hence the current tendency is to shift it to the cloud. In this trip, MAS migration and deployment on AWS Cloud are gaining popularity.

The growing demand for Maximo AWS Cloud migration

Migrating to cloud helps enterprises improve operational resilience and dependability while updating software with minimal effort and infrastructure constraints. Due to the growing demand for data-driven asset management, firms must aggregate data from diverse departments to identify trends, generate predictions, and make better asset management decisions.

Last April, IBM said Maximo 7.6 and add-on support would stop in September 2025. All Maximo EAM customers must upgrade to the latest cloud-based MAS. Maximo migration and modernization are become increasingly significant to clients.

IBM has released new containerized versions of Maximo Application Suite as a Service (MAS SaaS) on AWS Marketplace with Bring Your Own License (BYOL) to assist Maximo migration to AWS. MAS SaaS on AWS is another milestone in Maximo’s integration of Monitor, Health, and Visual Inspection into a unified suite.

What makes MAS SaaS distinct

IBM Site Reliability Engineering (SRE) specialists use best practices to continuously maintain and administer MAS SaaS, a subscription-based AWS service. This partnership gives customers an industry-leading IBM asset management system underpinned by AWS’s size, agility, and cost-efficiency.

Upgrades and migrations to MAS 8 are possible with MAS SaaS. The data update is similar to prior upgrades, but ROSA and other dependencies require architecture changes. The migration is comparable to how clients transitioned from on-premise to Maximo EAM SaaS Flex, but with MAS changes. Perpetual on-premises customers would stop paying Service & Support (S&S) and purchase a SaaS subscription, on-premises Subscription License customers would start a new subscription, and existing MAS Flex and MAS Managed Service customers would start a new subscription to migrate to MAS SaaS.

Our IBM Consulting Cloud Accelerator (ICCA) technology lets firms plan migration and upgrade strategies before investing.

Maximo migration strategy of a global energy firm

IBM worked closely with an energy company confronting the following challenges:

Infrastructure needed for latest Maximo version takes longer.

WebSphere, Maximo’s core, experienced high-availability and performance difficulties.

Lack of data fabric and integration layer hinders cross-application data interchange.

Complex setup, failures, and security with manual end-to-end deployment.

Since Maximo Application Suite 8 (MAS8) tackles industry issues like failure risk, escalating maintenance costs, sustainability, and compliance laws, the customer chose it. The client chose AWS Cloud for its deployment flexibility, scalability, high availability, and secure architecture. 

Approach to solution

This is how IBM accelerated the energy company’s Maximo move to AWS:

Used Infra as a code to upgrade Maximo from 7.6.0.9 to 7.6.1.2.

IaC allowed instance spin-up for auto scaling. This automation reduces the time to spin up and execute the new environment and addresses multi-AWS availability zone deployment latency.

Used AWS DMS for data migration and schema conversion.

IaC spun the DR environment on demand to reduce database replication (DR) infrastructure and expense. DR capabilities update data in availability zone and DR area.

Achieved data exchange across applications using IBM Cloud Pak for Data and standardized integration using IBM Cloud Pak for Integration components.

Solution components

Maximum Enterprise Application Management (EAM) has a 3-tier design with these components:

HTTP/Web Tier and Application Tier using IBM WebSphere and HIS installed EC2 instance under private subnet for application security.

Database Tier uses AWS Oracle RDS with replication for DR under private subnet.

AWS best practices were used to configure VPC with public and private subnets.

Application servers and deployment manager were autoscaled by Auto Scaling Group. 

Maximum web-based UI resolution for external access using AWS Route 53.

WAF was the initial line of defense against web exploits.

Integration of Terraform and CFT IaC scripts provided autoscaling architecture.

AWS Reference Architecture

Max on RedHat OpenShift Service on AWS (ROSA) helps clients

Containerized MAS 8.0 runs on RedHat OpenShift. AWS, IBM, and RedHat developed an IBM MAS on ROSA reference architecture to help customers inexperienced with production containerization. ROSA, a fully managed, turnkey application platform, supports IBM MAS configuration and offloads cluster lifecycle management to RedHat and AWS, allowing organizations to focus on application deployment and innovation. This means IBM MAS clients don’t need to develop, administer, or maintain RedHat OpenShift clusters.

Operating Model and Maximo Migration

Top 3 Maximo AWS migration accelerators

Clients can migrate to the cloud using three IBM MAS deployment methods on AWS Cloud:

ROSA-powered MAS SaaS on AWS

ROSA-powered AWS MAS

Customer-hosted ROSA

Why use customer-hosted ROSA

The customer-hosted ROSA option for hosting IBM MAS in a customer’s VPC with ROSA is powerful. ROSA is perfect for MAS deployments because it seamlessly deploys, scales, and manages containerized applications.

The benefits of this choice are enormous. Full control over the infrastructure while still subject to the organization’s monitoring, controls, and governance standards allows businesses to customize and adjust the environment to their needs. This control includes adding MAS integrations and enforcing cloud security and governance requirements. ROSA charges are combined into one AWS bill and drawn from any AWS enterprise agreement, simplifying financial management.

AWS enterprise agreements and Compute Savings Plans offer infrastructure savings for MAS implementations. Because the ROSA cluster operates under the customer’s AWS account, customers can buy upfront ROSA contracts and get a one-year or three-year ROSA service charge discount.

Why IBM for Maximo AWS migration?

Any modernization effort must include cloud migration. Cloud migration is not a one-size-fits-all method, and each organization faces unique cloud adoption difficulties.

IBM Consulting’s Application Modernization offering helps clients migrate and modernize AWS applications faster, cheaper, and more efficiently, reducing technical debt and accelerating digital initiatives while minimizing business risk and improving business agility.

IBM offers unique cloud migration services to accelerate customer application migration to AWS:

Cloud migration factory capabilities including proven frameworks and processes, automation, migrating templates, security policies, and AWS-specific migration squads speed up delivery.

IBM Garage Methodology, IBM’s cloud services delivery capabilities, ROSA, and AWS Migration tools and accelerators accelerate migration and cloud adoption.

ICCA, IBM’s proprietary framework for migration and modernization, reduces risk. ICCA for AWS Cloud automates various modernization procedures, simplifying and speeding up company agility. Before investing, businesses can plan migration and modernization strategies. Discover IBM Consulting Cloud Accelerator for AWS Cloud.

Our well-defined pattern-based migration methodology includes re-factor, re-platform, and containerization using AWS managed services and industry-leading tools to remove and optimize technical debt.

Finally, IBM offers customizable t-shirt-sized price models for small, medium, and large migration sizes, ensuring clients’ migration scope is obvious.

IBM helps clients migrate applications, like Maximo to AWS Cloud

In conclusion, clients seek IBM’s expertise to:

1.Upgrade Maximo 7.6x (expiring 2025) to MAS 8. 

2.On-premise workload to AWS Cloud for elastic, scalable, and highly available infrastructure and runtime

IBM Consulting can help

AWS Premier Partner IBM Consulting accelerates hybrid cloud journeys on the AWS Cloud by leveraging business and IT transformation skills, processes, and tools from many industries. On AWS Cloud, IBM’s security, enterprise scalability, and open innovation with Red Hat OpenShift enable enterprises grow swiftly.

BM Consulting develops cloud-native apps in AWS Cloud with 21,000+ AWS-certified cloud practitioners, 17 validated SDD programs, and 16 AWS competencies. IBM Consulting is the best AWS partner due to acquisitions like Nordcloud and Taos, advancements at IBM Research, and co-development with AWS.

Read more on Govindhtech.com

[argyrocratie]

​Clan capitalism

Ukraine became independent in 1991 following a referendum in which more than 90% of voters voted in favor.[3] Until 2014, Russia accepted this result and recognized Ukraine’s existence in a sort of regime of “limited sovereignty”. Ukraine was tied to its larger neighbor by economic relations[4] and Russia was able to use its local clients to influence internal political development. The latter has long been turbulent.

The period of economic transition in which Ukraine followed, to some extent, the prescriptions of the International Monetary Fund (IMF) and the World Bank, quickly created a new capitalist class. At first, it was composed mainly of “red directors” (i.e., the managerial cadres of the Stalinist regime), and later also of broader layers – from the ranks of the technical intelligentsia, various parts of the state apparatus and the criminal underworld. The 1990s were a true Eldorado for this class, though often quite dangerous for its individual members. Using both legal and extralegal methods, it seized key enterprises and banks, which it either stripped of all assets or concentrated into giant holdings and investment groups. Profits were exported to tax havens. At the same time, it began to take control of the media and politics. Unlike its predecessors in the Stalinist nomenklatura, it also managed to integrate itself into the global capitalist class, at least in terms of the use of its consumption fund (yachts and luxury properties abroad, jets, as well as private investments in international financial markets).

Meanwhile, Ukraine’s real GDP per capita was in steady decline– up until 2000. Average life expectancy decreased from 70.5 (in 1989) to 67.7 years. Non-payment of wages,[5] work in the informal economy, and a decline in purchasing power became everyday realities for the Ukrainian working class. Although the numerous strikes, marches, hunger strikes, and blockades have managed to score some local successes (e.g., the payment of wage arrears, postponement of privatization, etc.), they failed to change the overall course or create a broader movement.

The story so far is not that different from the Russian one.[6] However, the centralization and consolidation that Putin implemented after the Asian financial crisis and the collapse of the ruble (1997–98) never took place in Ukraine. Putin gradually nationalized some energy companies, built a “power vertical”, whose backbone was formed by security service cadres and various personal friends, and subordinated the oligarchs to this structure. The latter has since overseen the distribution of rent derived mainly from fossil fuel extraction. Ukraine’s domestic capitalist class, by contrast, has remained divided into competing “clans” that are tied to specific sectors of the economy and geographic regions.[7] The rivalry between these factions of Ukrainian capital has been the basis of political instability.

The numerous movements of political protest which often also voiced social and welfare demands were always co-opted by a political project of one of the groups – either from the very beginning or gradually. The “Ukraine without Kuchma” (2001–2002) and “Arise, Ukraine!” (2002–2003) protests were directed against President Leonid Kuchma, involved in several scandals, including the murder of a journalist. The “Orange Revolution” (2004–2005) was in response to the electoral fraud of the then prime minister and presidential candidate Viktor Yanukovych, as well as the suspicious privatization of Ukraine’s largest steelworks in Kryvyi Rih (Dnipropetrovsk Oblast), in which Kuchma’s brother-in-law was involved along with the former Donetsk gangster, Rinat Akhmetov. The movement “Rise up, Ukraine!” (2013) opposed President Yanukovych and his attempts to consolidate power. Finally, the Euromaidan (2014) was a reaction to his decision not to sign the Association Agreement with the European Union. The most successful of these movements, the Orange Revolution, and the Euromaidan, may have led to a change of political leadership, but they did not significantly shake the position of the clans, let alone the clan system as such. Ultimately, they became a means of bringing another faction of the domestic business class to power.

The lumpen-capitalist competition, in which one or the other faction gained control of the state (and thus preferential access to loans, subsidies and contracts), explains, at least in part, why the state has failed to impose a long-term, viable development plan on the country. On the other hand, this unstable environment also left some room for the development of a resistant civil society, including independent trade unions, activist organizations, and the radical left.[8]

Russia maintained an influence over Ukraine through those sections of the local capitalist class that were materially interested in maintaining close relations – for example, in the interests of their own sales, favorable prices for inputs (especially, but not exclusively, energy inputs), or gas transfer fees. The capital base of this faction was mainly concentrated in the Donbas, the former industrial heartland of the Soviet Union, home to a large Russian-speaking population and the birthplace of the Stakhanovite “movement”. In the 1990s it was the scene of the bloodiest conflicts within the capitalist class, a center of organized crime – but also the epicenter of the tragedy of the “old” working class, especially the miners. Their mass strikes in the late 1980s and early 1990s helped destroy the Soviet regime and win Ukraine’s independence,[9] but after a wave of privatizations, asset stripping and bankruptcies, many found themselves with no jobs or prospects. Between 1992 and 2013, the population of Donetsk and Luhansk Oblasts fell by 1.7 million, declining at twice the rate of the rest of the country.[10]

- karmína,“the tragedy of the ukrainian working class” (2022)

_ _ _

[3] This was about 76% of all eligible voters. In Crimea, support for independence was the weakest, at around 54% of the vote. Similarly in Crimea’s Sevastopol, which was a separate constituency – 57%. In Donetsk and Luhansk Oblasts, however, almost 84% of those who voted were in favor of independence. Wikipedia summarizes the results in detail.

[4] As recently as 2013, imports from Russia accounted for 29% of total imports of goods; exports to Russia accounted for almost 23% of Ukrainian exports of goods. By 2020, both indicators had dropped to 11% and 6%, respectively (see oec.world). On the other hand, exports to the EU15 already accounted for a larger share of total Ukrainian exports than exports to Russia in 2002. Thus, the dependence of Ukrainian industry on Russian gas and oil has played a decisive role. 

[5] A specific feature of the Ukrainian (as well as Russian) transition was that official unemployment never reached a level close to twenty percent, such as in Poland (2002) or Slovakia (2001). Workers in enterprises that ran into trouble remained formally employed but were not paid – although in many cases they continued to work. Sometimes they received payments in kind instead of cash.

[6] Of course, in many respects it is also reminiscent of the history of other former Eastern Bloc countries, including Slovakia.

[7] The history and structure of the “clans” is described in “The Oligarchic Democracy” by Sławomir Matuszak. See also “The Consolidation of Ukrainian Business Clans” by Viatcheslav Avioutskii.

[8] A peculiar phenomenon of political life in Ukraine was the emergence of a seriesof fake left-wing groups founded around 2000 by the same circle of people. These pseudo-organizations established contacts with foreign “internationals”, mainly of the Trotskyist variety, and lured material aid or money from them. It was enough to write that they identified with their political program and wanted to become a Ukrainian or Russian section. Despite personal meetings, it took three or four years for the foreign donors – delighted by the unexpected growth of the workers’ movement in the former Eastern Bloc – to discover that their “partners” were in fact political hucksters. The scandal had seriously damaged the international reputation of the Ukrainian left, though one may also pause at the credulity of Western leftists.

[9] On earlier strikes by Donbas miners for economic demands and democratization, see the documentary Perestroika from Below (1989). Later strikes had more explicit political demands, including national independence. See the interviews with strike leaders in Donetsk, as well as a brief documentary (with English subtitles). The history of miners’ protest from perestroika to 2000 is summarized in an essay by Vlad Mykhnenko subtitled “Ukrainian miners and their defeat”. See also the recollections of the Dnipro working-class militant, Oleg Dubrovsky, in a 1996 interview (in English), as well as his analysis of the process of privatization of the mining industry (in Russian).

[10] One of the consequences of the disintegration of the mining industry in the Donbas has been the growth of illegal mining in the so-called kopanki. A section of the 2005 documentary, Workingman’s Death, focuses on the phenomenon. The post-apocalyptic landscape of the Donetsk Oblast is depicted in the short documentary, Life After the Mine (2013).

[dragonxfuel]

🌐 Exploring Freelancing Opportunities in the World of SAP 🌐

In the evolving world of work, freelancing has emerged as a dynamic platform for professionals to shine and make their mark across diverse industries. Dive into the realm of SAP and discover how SAP experts are embracing freelancing, including the influential SAP FS-CD (Collections and Disbursements) module. Visit Noshtek.com SAP consultant in US/USA to explore how their solutions complement SAP and can help your organization excel in computing on the cloud, analytics for finance, and human capital management.

SAP: Pioneering Enterprise Solutions Worldwide

SAP's pivotal role in transforming businesses.

SAP FS-CD's impact on financial asset management.

Freelancing with SAP: Unlock Your Potential

A world of diverse projects and industries.

Geographic flexibility with global reach.

Ongoing learning and competitive compensation.

Embark on Your Freelance SAP Journey

Whether you're drawn to SAP FS-CD or other SAP modules, the freelance world offers a treasure trove of opportunities. With determination and strategic planning, you can launch a thriving freelance career within the SAP universe.

[shantitechnology]

Top 10 ERP Software for Engineering Industry

In the contemporary and dynamic commercial environment, the engineering sector in India is confronted with a diverse range of obstacles, including intense competition, increasing client expectations, intricate project administration, and resource allocation optimisation.  In the contemporary era of technology, the utilisation of Enterprise Resource Planning (ERP) software has become an essential and irreplaceable instrument for engineering firms aiming to optimise their operational processes, improve productivity, and foster long-term and sustainable expansion.  Boost your engineering company's efficiency with cutting-edge ERP software – STERP software offered by STERP (Shanti Technology) – one of the most trusted firms offering ERP software for engineering companies in Mumbai.  Take the first step towards success today with STERP!

This blog article offers a comprehensive examination of the ten leading enterprise resource planning (ERP) software packages specifically designed to cater to the distinct requirements of the engineering sector in India.  The aim is to assist organisations in making well-informed choices that will contribute to their future success.

·         STERP Software:

STERP Software is a cutting-edge ERP solution offering an array of features to streamline business operations.  It excels in location tracking, task management, and mobile user visit reports.  Additionally, it enables seamless tracking of finished goods progress and efficient document management.  ISO audit reports and vendor ratings ensure compliance and supplier assessment.  The dynamic dashboard provides real-time insights, while multi-currency support facilitates global transactions. 

The export documents feature simplifies international trade, and auto-email & SMS integration enhances communication.  Quotation lost analysis ratio aids in optimizing sales strategies.  Depreciation calculation and auto JV streamline accounting.  Moreover, it's Android & iOS mobile app enables easy on-the-go access, including component process tracking.

·         Tally.ERP 9:

Tally.ERP 9 is a highly renowned and extensively utilised enterprise resource planning (ERP) software in India, serving a diverse range of businesses, including engineering enterprises, irrespective of their scale or magnitude.  Tally.ERP 9 offers comprehensive financial management, inventory control, and taxation modules that enable engineering organisations to adhere to Indian accounting rules and effectively handle financial data management.

·         Oracle NetSuite:

Oracle NetSuite is a cloud-based enterprise resource planning (ERP) software that offers a cohesive platform, encompassing ERP, customer relationship management (CRM), and electronic commerce (eCommerce) capabilities.  The software's adaptability and capacity to accommodate the needs of engineering businesses of varying sizes in India allow for the optimisation of operations and the acquisition of significant knowledge regarding their business procedures.

·         Microsoft Dynamics 365 ERP:

Microsoft Dynamics 365 is a multifaceted enterprise resource planning (ERP) solution that encompasses several functionalities like financial management, supply chain operations, and project accounting.  By incorporating localization capabilities specifically designed for India, the software enables engineering organisations to effectively streamline their processes, adhere to regulatory standards, and improve overall client satisfaction.

·         Ramco ERP:

The Ramco ERP system has been specifically developed to cater to the distinct needs and demands of the engineering sector within the Indian market.  The inclusion of modules pertaining to project management, asset management, and production planning facilitates the attainment of operational excellence and the stimulation of growth within engineering enterprises. 

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·         EPPS ERP:

The EPPS ERP is a software solution originating from India that has been specifically designed to cater to the needs of the engineering industry.  The EPPS ERP system offers a comprehensive range of modules that encompass several aspects of project management, including project planning, procurement, and quality control.  By leveraging these modules, firms can effectively streamline their project management processes while upholding stringent quality standards.

·         Marg ERP 9+:

Marg ERP 9+ is widely favoured among small and medium-sized engineering enterprises in India.  The programme provides a wide range of capabilities, encompassing inventory management, order processing, and adherence to GST legislation, so facilitating operational efficiency and ensuring compliance with local legal requirements for enterprises.

·         Infor CloudSuite Industrial (SyteLine):

Infor CloudSuite Industrial, previously recognised as SyteLine, is a comprehensive enterprise resource planning (ERP) solution that specifically caters to the needs of process manufacturing and job shop industries.  Its suitability for engineering firms in India lies in its ability to effectively manage different production requirements.

·         Focus i:

Focus i is an ERP software that has been designed in India specifically to address the distinct requirements of the engineering industry in the country.  Focus i is a software solution that offers several functionalities, including project management, production planning, and HR management.  This comprehensive suite of tools enables engineering organisations to enhance their operational efficiency and financial performance.

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·         Reach ERP:

Reach ERP is a nascent participant in the Indian enterprise resource planning (ERP) industry, specifically tailored to cater to the needs of small and medium-sized engineering enterprises.  The cloud-based design of this system, in conjunction with its various capabilities such as inventory control, order management, and financial accounting, facilitates efficient operational administration for organisations.

Final Thoughts:

The pursuit of efficiency, innovation, and sustainable growth holds significant importance in India's engineering business.  The adoption of digital transformation within the industry has led to the recognition of ERP software as a crucial facilitator.  This software plays a significant role in assisting engineering companies in optimising their operations, enhancing the efficient allocation of resources, and ultimately improving customer satisfaction.  The aforementioned list comprises the top 10 enterprise resource planning (ERP) software systems that are tailored to address the unique requirements of the engineering sector in India.  These software solutions offer a wide range of comprehensive features and functionalities, specifically designed to effectively address the many difficulties and opportunities prevalent in the market.

When making a decision on the choice of an Enterprise Resource Planning (ERP) system, engineering businesses should take into account many variables like scalability, localization capabilities, simplicity of integration, and vendor support.  Gain a competitive edge in Mumbai's engineering sector - Implement effective ERP solution offered by STERP (Shanti Technology) – one of the distinct ERP software providers in Mumbai!  The use of Enterprise Resource Planning (ERP) technology represents a strategic decision that holds the potential to bring about dramatic changes within the engineering industry in India.

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Unraveling Nigeria's Ownership and its Complexities

In this article, we delve into the intricate web of Nigeria's ownership, shedding light on the various aspects and entities associated with the country. Nigeria, known as the "Giant of Africa," is a nation rich in culture, resources, and diversity. To understand the concept of ownership in Nigeria, we must explore its historical, political, and economic dimensions.

Historical Context: Nigeria's Journey to Independence

Nigeria's journey to independence was marked by a tumultuous past, shaped by colonial rule and subsequent efforts to establish a sovereign nation. The British Empire held sway over Nigeria until October 1, 1960, when the country gained independence. The ownership of Nigeria was then transferred to the Nigerian people, who became the collective custodians of the nation's destiny.

The Federal Republic of Nigeria

As an independent nation, Nigeria operates under a federal system of government. The power is distributed among three tiers: the federal government, state governments, and local governments. The President serves as the head of state and the Commander-in-Chief of the armed forces, representing the federal government. However, it is essential to note that Nigeria's ownership is not vested solely in the President but in the Nigerian people as a whole.

Sovereign Wealth Fund and National Assets

Nigeria, being an oil-rich nation, possesses significant national assets and a Sovereign Wealth Fund (SWF) to manage its resources. The SWF serves as a savings fund for future generations, investing surplus revenues from oil sales. The ownership of the SWF and national assets is held collectively by the Nigerian government on behalf of its citizens.

Private Ownership and Business Entities

Beyond the realm of government ownership, Nigeria is a fertile ground for private enterprises and business ventures. Individuals, corporations, and foreign investors actively participate in various sectors of the economy, such as oil and gas, telecommunications, banking, agriculture, and manufacturing. Private ownership in Nigeria is subject to regulations and laws established by the government to ensure fair competition and economic growth.

Traditional Institutions and Cultural Ownership

Nigeria is home to a diverse range of ethnic groups, each with its distinct cultural heritage and traditional institutions. These institutions play a vital role in preserving cultural ownership within their respective communities. They serve as custodians of traditions, languages, customs, and historical artifacts, ensuring their continuity for future generations.

International Relations and Nigeria's Ownership

Nigeria's ownership extends beyond its borders through its participation in international organizations and treaties. As a member of the United Nations, African Union, and Economic Community of West African States (ECOWAS), Nigeria actively engages in shaping regional and global policies. These partnerships allow Nigeria to assert its ownership in various diplomatic, economic, and social spheres.

Conclusion

In conclusion, the concept of ownership in Nigeria is multifaceted and dynamic. While the Nigerian people collectively own the nation, the responsibilities of ownership are distributed across governmental, private, cultural, and international entities. Understanding the complexities of Nigeria's ownership requires an appreciation of its historical journey, political structures, economic systems, and cultural diversity.

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Obstacles Confronting the Private Equity Sector

Laws and regulations have undergone significant changes, impacting how a private equity (PE) professional can meet clients’ demands for reliable investment and exit strategies. In recent years, amid geopolitical and financial upheavals, PE advisors have faced recessionary threats. This post will delve into the main obstacles the private equity sector will encounter in 2024.

An Overview of the Private Equity Sector

The PE sector centers on investing in private companies. Additionally, private equity researchers facilitate buyouts of public companies, transitioning them to private ownership. Regulatory requirements render private equity investments complex, yet PE firms remain in demand due to their long-term positive outlook.

Services Provided by Private Equity Experts

High-net-worth individuals (HNWIs) and institutional investors frequently utilize investment banking services for wealth management and privatization goals. Meanwhile, PE professionals assist them in several ways:

1| Long-Term Investment Guidance

PE investments extend over several years. Consequently, private equity firms can enhance the value of acquired companies through strategic management. Their innovative interventions go beyond operational improvements and financial restructuring, including data-driven market expansion, product development, and talent acquisition.

2| Active Capital Management

PE firms adopt a hands-on approach to portfolio management, differentiating themselves from passive investors. They employ experienced financial professionals and collaborate with tech consultants to optimize performance. Their active capital management methods attract investors seeking higher returns. The expertise of PE specialists provides reassurance and confidence in the investment.

3| Leverage

Private equity transactions frequently involve substantial borrowing to finance acquisitions, using the acquired company’s assets as collateral. This leverage can enhance returns but also increases risk. Consequently, stakeholders perceive private equity deals as high-stakes endeavors.

4| Exit Strategies

Initial public offerings (IPOs) allow PE firms to exit investments. Alternatively, selling to strategic buyers is common. They also conduct secondary sales to other private equity firms. These exit strategies can yield substantial returns for investors.

Primary Obstacles in the Private Equity Sector

1| Managing Inflation and Interest Rate Pressures

Global inflation and tighter monetary policies necessitate careful management of private market portfolios. Therefore, limited partners (LPs) must leverage the best tools and talents to assess the impact of these macroeconomic pressures on their portfolios.

LPs need to monitor margin erosion, cash flow generation, and debt covenants. They can reassess which portfolio companies will thrive despite inflation or interest rate pressures.

For example, an organization that leads its market or excels in maintaining strong customer and supplier relationships will likely outperform others. However, LPs and private equity professionals must evaluate whether it has contractual pricing with minimal exposure to input price volatility. These traits boost a company’s resilience to macroeconomic forces.

Similarly, portfolio companies with high cash conversion ratios or conservative capital structures will be more rewarding. Businesses with flexible terms are expected to thrive in challenging market conditions.

Conversely, companies lacking these attributes will likely face significant challenges in the private equity sector. Therefore, stakeholders must pay closer attention to them.

2| Data Availability and Validation Issues

Private equity stakeholders require accurate data on an enterprise’s corporate performance, legal compliance, and sustainability commitments. Public information sources may not provide sufficient insights into target businesses' core metrics and risk-reward dynamics. Premium data providers might also employ data-driven profiling and recommendation reporting.

Insufficient information and poor data quality hinder PE stakeholders' portfolio improvement efforts. They must navigate markets using well-validated intelligence rather than biased information from public platforms. Malicious actors can falsify claims about a brand’s performance due to undisclosed interests.

Therefore, ensuring data quality to develop the best portfolio strategies remains a significant challenge, underscoring the need for ethical, transparent, and tech-savvy PE experts.

3| Employee Retention Challenges

Retaining top talent is crucial for PE firms to succeed in the private equity sector. Therefore, private equity managers and researchers must foster a healthy workplace culture that allows professionals to grow based on performance metrics. They must also offer competitive compensation packages and retention bonuses.

Collaborating with consultants to create guidelines and training programs can support your core team. Additionally, utilizing automation and third-party assistance can reduce the workload on employees. If PE firms neglect their employees' interests, staff may leave or underperform. Miscommunication between leaders and team members can exacerbate this issue, leading to high employee turnover.

4| Increasing Competition Amidst Fewer New Businesses

Private equity firms have grown by 58% between 2016 and 2021. However, new company registrations often include more startups, with few qualifying to raise funds through PE-supported pathways. While PE research providers have increased, established companies and investors must select the best ones.

As a result, firms and financial professionals have developed strategies to overcome competition-related obstacles in the private equity sector. They offer multiple buyout methods and leverage fintech scalability. They have also enhanced risk-reward modeling and data sourcing to meet clients’ expectations, particularly regarding legal compliance requirements.

However, processing a deal may not always proceed as initially envisioned. Although company owners, limited partners, and interested investors witness new deals, only a fraction reach completion. Therefore, PE businesses seeking a competitive edge must expedite screening, feasibility reporting, and data gathering with modern technologies. This approach is essential for private equity stakeholders to identify the right deals with long-term benefits.

Conclusion

The private equity sector must navigate macroeconomic risks such as inflation, tight monetary policies, and data quality issues. Embracing innovative fintech systems and engaging domain experts to optimize internal processes can help. If each PE firm enhances its operations, it will succeed despite public companies and strategic buyers adopting buy-to-sell principles for business acquisitions.

Competition from fellow PE firms for a relatively stable number of viable businesses seeking investors has prompted a more dynamic and risk-taking approach. Amid these obstacles facing the private equity sector in 2024, firms must prioritize talent acquisition and employee retention. Additionally, limited partners must continually revisit, expand, and optimize their portfolios as global events continue to impact PE deals.