India is the world’s second-fastest growing economy. According to the McKinsey Global Institute, India’s consumer market is expected to quadruple over the next twenty years. For U.S. small businesses, India holds the promise of tremendous opportunity. As the number of U.S. companies doing business in India increases, the number of Indian policy holders is expected […]
In Asia, there is a popular fidelity claim involving the person-in- the-middle scheme. These schemes have increased as more foreign companies enter the market in Asia due to the rapid economic growth and significant consumer market. Language differentials, lack of access to sales channels, requirements of joint ventures, ownership and control by citizens of the […]
Running a small business isn’t easy. Small business owners are plagued by concerns: from keeping the business flowing and growing to making customers happy to handling incoming and outgoing expenses to finding, keeping and paying good employees. Many small business owners lie awake at night worrying about how much is in the business bank account. […]
Recently, this company requested a Big Insurance customer to change our bank account information and to make future payments on invoices to the new bank account. We emailed our contact at the Big Insurance Company and, voilá, the monies were deposited in the new bank account with no confirmation callback. These situations are rife with the potential for […]
P-Cards offer certain conveniences organizations find appealing. However, the ease of use goes hand in hand with the ease of abuse. End-user organizations should weigh the balance of the potential benefits and pitfalls of P-Card use in order to detect, mitigate and prevent their abuse. The Good 1. Cost Savings The traditional procure-to-pay process is costly, often […]
Many companies consider P-Cards (Purchasing Cards) to be efficient for purchasing goods from vendors. P-Cards, also dubbed Procurement Cards (ProCards), Payment Cards or Purchase Cards, are essentially charge cards, similar to consumer credit cards. With the increased use of P-Cards in the corporate, educational and government sectors, in order to choose the P-Card best for the organization. The Basics […]
As the number of Asian policy holders increases, it is important to understand the cultural differences when handling claims involving Asian policy holders. These differences should be taken into account during conference calls and when conversing by email. Lack of cultural sensitivity can lead to misunderstandings and less efficient business dealings. Tips to Remember English […]
Recently, seven separate company chief financial officers in a city in Indiana received an email similar to the following from their chief executive officers: We are in secret merger discussions. Tell no one. We have hired a consultant to assist with the due diligence review. Please send a retention payment by wire to: Ms. / […]
The auto parts industry has historically experienced one of the highest frequency rates of employee theft. Why? It’s easy. Auto parts are easily stolen and sold for cash. eBay and PayPal have made it simple to obtain a larger distribution market for the employee to sell the stolen auto parts. Recently, in 2014 and 2015, […]
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