How to Implement Workflow Automation Software With Your Business

Automation

Every little bit counts in a tiny firm. Your company may suffer a significant loss as a result of time wastage. You start laying off people to save money as your business expands. However, firing staff may leave your business with fewer resources and halt its expansion.

However, there is an alternative to eliminating your personnel from your company and decreasing the likelihood of business expansion. You can complete some of your work with Workflow Automation Software.

All of your work will be completed swiftly with the aid of workflow automation software, which will boost the benefits to your company while also reducing the cost of labour. Here are some of the advantages of using workflow automation software in a small firm, along with instructions on putting it into practice.

 

What Do You Mean By Workflow Automation?

Manual labour is more expensive, less dependable, and prone to mistakes. Workflow automation, however, will allow for faster and more accurate completion of tasks. It entails using procedures and established business principles without an employee’s involvement, enabling the speedy and correct completion of tasks.

They are created specifically to drive growth and streamline corporate operations. Your companies are at a lower risk of failure or have few hazards. The workflow automation program reduces the amount of work that requires paper.

 

What Do Tools For Workflow Automation Do?

You can delegate your job with the use of workflow automation software. It will assist you in setting up tasks by business requirements. Workflow automation solutions create necessary business documents, assign tasks, digitally sign documents, store data, and send it between various systems.

Workflow automation software requires that every workflow aspect be planned, created, and organized to duplicate or enhance the current process.

After the participants provide their approval, the stable version is finished. The software handles the task connections and organization. 

 

Workflow Automation Examples

You can assist your workers in focusing on work that is more important by employing a workflow automation system. Within your company, the following instances of workflow automation are given.

 

Workflow Software For Marketing Tasks

You can use workflow software to automate the following marketing tasks:

Establishing marketing emails, authorizing new advertising strategies, organizing posts on social media, and screening prospects for the sales staff.

 

Sales Procedures

You can also manage the following sales procedures: screening potential leads, arranging appointments, sending quotations or offers, and creating monthly sales.

 

IT Departments

With the aid of a workflow automation platform, IT departments can automate the following processes:

Setting up identities for new hires, Managing internal service requests, Testing new devices and systems.

 

Accounting Procedures

You can automate the following accounting procedures:

Handling sales invoices, processing client bills, creating financial information, and paying employee expenditures are just a few of the tasks involved.

 

HR Processes

Workflow automation software can automate the following HR processes:

Processing payments, handling time-off applications, keeping track of customer records, assessing job forms, and integrating new workers are just a few of the responsibilities of an employer.

 

How to Put a Workflow Automation Software Into Practice

Workflow automation can be intimidating to begin with. However, it may provide wide-ranging advantages for your entire company. To form, adhere to these guidelines.

 

Determine Your Objectives

Workflow automation will take time in its implementation. You need to determine our objectives first. Ad determining your objectives will take time. Examples include accelerating production, shortening turnaround time, and enhancing operational effectiveness. Once your goals are clear, you’ll be able to convince leadership to support workflow software.

 

Choose An Operational Process

You should pick a manual method to an automated one. It will frequently repeat this very same set of steps.

You can automate the following procedures as examples:

  • Hiring new employees
  • Authorizations of expenses
  • Compliance with sales order
  • Market agreements
  • Demand for trip

There are thousands of activities in your organization that could be automated.

 

Ensure a Security Strategy

You need to establish security standards for your company. You have to imply all the security standards essential for your company. Always select the partners whom you can fully trust. Before selecting candidates for your investment, always choose the one you can trust that will secure your financial information. You can safely implement your workflow automation software with a good security architecture.

 

Choosing the Correct Software 

There are over a million software for workflow automation, but choosing the right one is more important than selecting a famous one. You should pick the one that will fulfill your company’s requirements. The software should have the best performance, interoperability, and exciting features. 

Choose the one that has specialized business process automation software. If you like more than one software for your company, test the one best suited for your company.

The following are the main qualities to consider when selecting workflow automation software:

  • Visual rule creator
  • Drag-and-drop shape designing
  • No-code workflow developer
  • Alerts and prompts
  • Built-in touchscreen compatibility
  • KPI-based analytics
  • Connection with other programs
  • Clouds and on-premise solutions

 

Collect Data

Consult those involved in the campaign you chose for their opinions. What jobs take the longest to finish? Do they usually encounter any problems?

Have staff members walk you through a procedure from beginning to end. This will assist you in locating problem areas and addressing any bottlenecks. 

 

Check Your Workflow

Workflow automation software will help you to customize each phase of your workflow. You can also use different rules of your choice in your workflow automation.

After making a workflow, you can also test a workflow of how they appear on your mobile phones. Before implementing your workflow throughout the company, test it thoroughly. Obtain feedback and adjust your workflow as necessary.

 

Prepare Your Group

All parties must eventually agree to deploy a workflow automation system. But it can be tough to bring people along Because progress has not always been simple.

Effective ways to increase training courses, explain the advantages of automated procedures, and include your staff at every stage. When you alter your workflows, always continue to keep your course manuals.

 

Conclusion

With the help of workflow automation software, you can automate several tasks. Your staff can use their time more effectively if they aren’t entangled in menial activities.

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Merger Accounting: A Step-By-Step Guide

Mergers and acquisitions are among the major methods that allow businesses to push forward with their growth, operations, mission, and goals. For the most part, the two processes are quite similar – they involve two, or more, pre-existing business entities combining into a single surviving company. In 2021, the mergers and acquisitions market just in the U.S. reached a record value of $2.9 trillion in transactions. In fact, the country accounted for nearly 60% of the global deals in that year.

Naturally, both processes are extremely complicated, time-consuming, and require a lot of support from experts in the accounting and legal fields. If the involved entities do not have the internal departments to handle the merger’s workload, it is best to find a specialized outside firm. Multiple factors should guide the selection of an external counsel.

The accounting firm must be sufficiently proficient in the process and should operate within the specific jurisdiction. For example, U.K. entities participating in a merger might want to look for accountants London to support the process. Finding accountants that you can trust to deliver outstanding results is paramount as mergers involve rigorous examination of both companies’ financial statements, accounts, activities, and more.

Accounting’s Role In a Merger

The merger process begins with identifying the right targets and initiating negotiations. What follows are multiple rounds of due diligence, analysis of financial reports, past business performance, formulating projections, signing preliminary agreements, doing even more due diligence, and moving towards finalizing the deal. Countless moving parts must all be synchronized in order to deliver the required results.

Obtaining regulatory approval may also be necessary, especially in cases where the merger parties are large businesses with significant market shares in the specific sector. Mergers in the U.S. fall under the dual jurisdiction of the federal government and the laws of the specific state in which the target company is incorporated.

More specifically, the SEC (Securities and Exchange Commission) controls the sales and transfer of securities, while the DOJ (Department of Justice) and the FTC (Federal Trade Commission) handle antitrust and competition matters. Additional agencies may also get involved if the entities of the merger operate in certain regulated industries. To assure that they are compliant will all the necessary requirements, both businesses will need qualified advice from accounting and legal professionals.

Due Diligence

For a merger to be successfully finalized, both involved parties must compile massive amounts of financial data and provide it to each other. In turn, each party must diligently examine the given reports, data, balance sheets, projection reports, etc., and ensure that all of the numbers are accurate, relevant, and meet their expectations. If the merger involves stock consideration, proxy statements will need to be filed and cleared by the SEC. The company issuing the shares must also register them with the Commission via registration statements.

The accounting specialists must go over both companies’ accounts, sales figures, intellectual property, material contracts, existing commitments, and customers. At the same time, they must confirm that all pending or current legal proceedings involving the chosen entity have been properly disclosed in the provided documentation. The same also applies to any tax infringements, regulatory issues, environmental policies, and current or potential employee and H.R. problems.

Before the deal can be closed, it may also need to pass regulatory approval. The FTC enforces rules pertaining to specific information that cannot be disclosed, particularly regarding certain pricing information and strategic plans. Simultaneously, the FTC might request additional information to be provided during the review process, including internal documents related to the deal or a detailed copy of all the communication that has taken place between the two entities of the merger.

Post-Merger Responsibilities

Even when the merger has been officially announced to the public and subsequently finalized, the expertise provided by the accountants is still necessary. It is more than likely that the merger agreement contains agreed-upon provisions that will require the accountants from both companies to remain active participants for quite a while. One common example is determining the necessary cash settlement of the difference between a specified net working capital value and the final net working capital between the two companies on the closing date.

The post-closing responsibilities may also include facilitating the integration of the accounting systems of the existing entities into the company that will be formed after the merger. This could require migrating all of the current data and functions to new systems. Accounting is also essential in assisting with the implementation of the new internal controls and any governance processes of the surviving entity.

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New World Report Announces the Winners of the 2022 Texas Business Awards

Austin city skyline at sunset. The New World Report Texas Business Awards 2022 logo is in the top left corner

United States, 2022 – B2B business publication New World Report has announced the winners of the 2022 Texas Business Awards program.

Texas is a true powerhouse on the US landscape. When it comes to business, it has thrived for decades on the back of an unrivaled work ethic and strong values. Texans understand the power of a hard day’s work, and in treating all of their clients with a service that always exceeds expectations.

Ultimately, this year marks the first Texas Business Awards, launched to recognize the incredible achievements of those in the lone star state, despite incredible uncertainty, immense challenges and dogged competition.

Awards Coordinator Phoebe Detheridge took a moment to comment on the eve of the program’s announcement: “I offer a sincere congratulations to all of the winners recognized in this inaugural edition of the Texas Business Awards. It’s been a true delight to host the program in its first year, and a pleasure to reach out to all of those that found success. I hope you all have a wonderful rest of the year ahead!”

To learn more about our award winners and to gain insight into the working practices of the “best of the best”, please visit the New World Report (https://www.thenewworldreport.com/awards) where you can access the winners supplement.

 

ENDS

NOTES TO EDITORS

New World Report is an insightful and informative business news platform providing readers throughout the Americas with business advice to aid business progress, success stories aimed to inspire and trends and innovations to support business growth and continuity. Born out of the merge of U.S. Business News and Latin America News, the New World Report has a dedicated website which is updated daily with content and each month a newsletter is circulated to more than 100,000 businesses and professionals from across the region.

About AI Global Media

Since 2010 AI Global Media has been committed to creating engaging B2B content that informs our readers and allows them to market their business to a global audience. We create content for and about firms across a range of industries.

Today, we have 12 unique brands, each of which serves a specific industry or region. Each brand covers the latest news in its sector and publishes a digital magazine and newsletter which is read by a global audience. Our flagship brand, Acquisition International, distributes a monthly digital magazine to a global circulation of 108,000, who are treated to a range of features and news pieces on the latest developments in the global corporate market.

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Coca-Cola is the Strongest Brand in the US, With a Brand Strength of 93.3

Fizzy Drink

Coca-Cola is America’s strongest brand. That’s according to a TradingPlatforms.com analysis. The world-class company has a Brand Strength Index (BSI) score of 93.3 out of 100. 

Moreover, Coca-Cola has a corresponding elite AAA+ rating. The BSI score ranking is based on its Brand Loyalty and Recommendation Forecast data reflecting consumer perceptions, preferences, and intentions – both online and offline.

 

Coca-Cola’s strong approval

TradingPlatforms’ financial expert Edith Reads says, “Coca-Cola’s brand strength is undeniable. Largely due to the prominence of its core drink in the consumer’s mind, as well as more recent innovations such as new flavors and lower sugar variants.”

She adds, “This BSI score is a measure of consumer loyalty, which is only achieved through an outstanding level of brand awareness and strong consumer approval ratings.”

 

Coca-Cola launches new Zero Sugar Zero Caffeine drink

In a time of rising health consciousness, the company has focused on providing low-nutrition and alternative products like Coke Zero to meet consumers’ needs. The company recently announced the launch of Coca-Cola Zero Sugar Zero Caffeine, a take on the Coca-Cola Zero Sugar taste. This new variant will be available across 2L PET bottles and multipack 330ml cans.

At the same time, it has made strategic decisions to leverage e-commerce to ensure brand availability in an era of interrupted supply chains. Coca-Cola’s digital strategy has also boosted its sales apart from its solid product strategy that saw them successfully navigate to the top.

 

Coca-Cola targets online engagement

During the 2021 pandemic, Coca-Cola launched a campaign to celebrate life and shared experiences – ‘Together Tastes Better’ – to promote the home consumption of Coca-Cola products. 

 

Coca-cola’s strong online presence

From the onset, Coca-Cola’s online ordering and delivery were fraught with security concerns and restricted usage due to quarantines at that time. So the company also launched the myCoke mobile application, enabling online orders delivered directly from your fridge!

The company has built a strong presence across digital and social platforms using its flagship brands to encourage online engagement and community actions.

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LGBTQ+ Activists Awarded Grants from Hornitos Tequila to Amplify Advocacy Work

Hands holding up small rainbow flags in the daylight

Earlier this year Hornitos Tequila proudly announced its official partnership with GLAAD – the world’s largest lesbian, gay, bisexual, transgender and queer (LGBTQ) media advocacy organization – with the goal of identifying, honoring and celebrating LGBTQ community members who are spearheading change on a local and national level. As a brand that was founded on the belief that nothing great ever happens without taking a chance, Hornitos is proud to announce the inaugural selected grant recipients who have challenged the status quo for the better.

 

About the Grantees

 

DaShawn Usher and Julian J. Walker of Mobilizing Our Brothers Initiative (MOBI)

DaShawn Usher, Founder and Executive Director of MOBI, is a native New Yorker and an award-winning advocate, published researcher, and celebrated leader within the LGBT community and HIV prevention field. He has cultivated more than 15 years of extensive experience in research, program development and design, health communications, and campaigns. Julian J. Walker is an esteemed silver screen Actor, Author, and the Deputy Director of MOBI, this Jackson, MS native has spent the past seven years partnering with campaigns, leaders, universities, and organizations across the globe in hopes of creating safe spaces for LGBTQ+ POC.

MOBI is curated social connectivity events for gay and queer people of color to see their holistic self while promoting community, wellness, and personal development. MOBI’s signature programming includes MOBItalks, a personal and professional development series for Black gay men and MOBIfest, an interactive wellness experience that celebrates Black queer voices in fashion, music, visual arts and media.

The full MOBI team features: Anthony Curry (Director of Operations & Events), Dwyane Williams, Jr (Director of Community Engagement), and LaQuann Dawson (Visual Director).

 

Maria Louise Roman-Taylorson of [email protected] Coalition (TLC)

Maria Louise Roman-Taylorson has been a leader in social services for the transgender community in Los Angeles for more than 20 years. Maria is Vice President & Chief Operations Officer of the [email protected] Coalition, the largest Trans-lead organization in Los Angeles. As a 51-year-old Puerto Rican Latina woman who began her journey to self-discovery at age 19, Maria has become an outspoken voice, activist, and a role model to the Transgender community. Hornitos is honored to recognize Maria and TLC on their mission to advocate for the specific needs of the trans community through education, resources and empowerment. In recent years, TLC has hosted the G.A.R.R.A.S. Fashion Show (Groundbreaking Activism Redirecting and Reforming AllSystems) – an event that provides the opportunity for members of the Trans community to showcase themselves as high fashion models and leaders through community mobilization while participating to raise funds for the organization.

The grantees will be honored with an event in their respective cities this year, where each organization will receive a $10,000 grant to further their goals and commitment to the LGBTQ community. These grants are in addition to Hornitos’ initial donation of $135,000 to support GLAAD and its mission of giving the doers, creators and innovators the opportunity to take on issues and create meaningful change in the world.

“It has been our honor to partner with and learn from GLAAD over the course of the year, taking their guidance and connecting with changemaking individuals and organizations,” said Rashidi Hodari, Managing Director of Tequila at Beam Suntory. “Our first selected grantees – DaShawn, Julian and Maria – are a true manifestation of the Hornitos brand mission to provide inspiration and create opportunities that propel people to “take shots” of their own, no matter how big or small. We are proud to amplify their incredible work.”

 

For those who are interested in donating to the cause or learning more about how to get involved, please visit www.hornitostequila.com/x-glaad/.

 

About Hornitos® Tequila

Hornitos® Tequila has a history of breaking tradition dating back to 1950 when founder Don Francisco launched the brand in honor of Mexican Independence Day. The Hornitos family of tequilas keeps Don Francisco’s legacy alive, using the same high standards to cultivate the best and most flavorful agaves, molding them into premium tequilas that everyone can enjoy. Hornitos inspires its fans to adopt the same boundary-pushing mindset through its “A Shot Worth Taking” campaign that highlights the extraordinary things that can happen when people are willing to take a chance. Since the inception of “A Shot Worth Taking” in 2017, Hornitos has empowered fans to take their shot and provided funds and opportunities to make their aspirations achievable.

To learn more about Hornitos Tequila and its tradition breaking brand history, visit www.hornitostequila.com or follow along with Hornitos Tequila on InstagramTwitter and Facebook.

 

About GLAAD

GLAAD rewrites the script for LGBTQ acceptance. As a dynamic media force, GLAAD tackles tough issues to shape the narrative and provoke dialogue that leads to cultural change. GLAAD protects all that has been accomplished and creates a world where everyone can live the life they love. For more information, please visit www.glaad.org or connect with GLAAD on Facebook and Twitter.

To learn more about GLAAD and its steadfast mission to advocate for the LGBTQ community, visit www.glaad.org or follow along on Facebook and Twitter.

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Car Insurance And Traveling Around North America

Being financially responsible for damage and injuries that you cause in a car accident is a legal responsibility and requirement not just in the majority of North America but also in the majority of the world. Nearly every state in the United States and provinces of Canada all have its own car insurance requirements for drivers living in them. While everyone follows the law with their own car insurance policies, they still raise the question. If you are driving around North America as a whole in Canada, the United States, or Mexico, will your current car insurance still cover you? The answer is a combination of both yes and no; here’s how.

 

Car Insurance in North America

Right off the bat, we can tell you that nearly every driver in the whole region of North America has at least general liability car insurance or basic coverage, as it is sometimes known. This is the insurance that will cover damage to another’s car and injuries to another driver if the policyholder is at fault. Fau[*image1*]lt usually determines whose insurance provider will have to pay out. However, there are several car insurance add-ons that can increase coverage to other damages like collision coverage with damage that is caused to your own vehicle in an at-fault accident and comprehensive coverage with criminal or weather damage when your car is parked. Personal injury protection providers insurance for your own injuries in an at-fault accident. This is the case with car insurance in the United States. For the most part, Canada’s car insurance functions exactly the same way but with different terminology. General liability coverage is referred to as third-party liability and direct compensation/property damage coverage. Mexico also has liability coverage requirements for injuries and property damage. So, car insurance all around North America is pretty consistent.

 

Car Insurance When Traveling Around North America

A car insurance policy from anyone living in any state in the United States is valid in every state they end up driving in or visiting. It’s when you are a resident of the state that things become technical. But for the most part, car insurance from one state will be good in all the others since it\’s impossible to live everywhere at once. The same goes for anyone living in any province of Canada or state in Mexico. Now, that brings us back to the main question of what if you are driving around North America and crossing borders. What if you were to take a road trip to Canada, the United States, or Mexico? Would your car insurance from your home country work?

Car Insurance When Traveling in The United States And Canada The United States and Canada have reciprocal car insurance laws with each other in place. In fact, some major car insurance companies are known to provide services in both countries. So, if you are visiting either country from either one, your car insurance should still be valid. It’s when your stay is more than 180 days or half a year when you may be required to get car insurance in that country, but you are all set for basic travel.

Car Insurance When Traveling to Mexico Traveling to Mexico, meanwhile, is another story. Your American or Canadian car insurance won’t be valid once you arrive. Instead, specialized and temporary Mexico-based car insurance must be obtained. Finding this coverage isn’t hard at all, as there are several insurance companies in Mexico that specialize in this. The same can also be said if you are renting a car –it will still require Mexican car insurance for however long your visit is.

 

When Someone Else is Driving Your Car Around North America

Of course, you may be traveling with someone. After all, road trips are long and tiring. Since you now know whether you will be covered when traveling cross country, you may be wondering if they will. Here, you have two options of coverage. There is a named driver where you specifically list them in your insurance policy and entitle them to all the coverage it has while they are driving. Inversely, there is permissive use wherein as long as you give whoever is going your car permission, they are also entitled to coverage making a named driver pointless. But be sure to check if your policy includes this. In conclusion, be sure you bring all the proof of your own car insurance and get any necessary coverages if they are required by your destination.

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Best Multi-Family Investment Management Firm – Southern USA

Investment Management

REEP is an expert in all things property equity. With outstanding process development, methodologies, and attitudes towards investments that create actionable plans that keep the clients’ wishes at the very forefront of the proceedings, REEP works hard to be the best of the best. Having set itself apart from its peers with its consistent and well managed involvement in the entire equity process from beginning to end, its service of the Lone Star State has earned it accreditation as firm that is effective, dependable, and client focused.

As a vertically integrated, multifamily, and highly trusted investments company operating out of San Antonio, Texas, REEP has made a name for itself with its outstanding customer service and exceptional results. Moreover, REEP – Real Estate Equity Partners – has been developing this reputation since 2012 by gaining the favour of its market segment one happy customer at a time, serving them with the acquisition of under-performing, income-producing, multifamily investment opportunities in Texas. This having been achieved, REEP then goes on to work together with its sister company REEP management to purchase, manage, and improve the relevant assets held therein, providing benefits to investors and tenants both.

In 2021, REEP rung in the year with the buying, selling, and management of over 4,200 units, taking 8 properties to full cycle. Thus, does an exemplary job of ‘show don’t tell’ when it comes to displaying its incredible acumen in property equity, inviting clients to simply look through the evidence of its past work in order to see what about it has endeared it so to its industry. Its portfolio now consists of over 2,575 units, cumulatively worth over $350 million and benefitting from REEP’s rapid growth in terms of both scale and success, having been named one of San Antonio’s fastest growing companies for the past three consecutive years.

Nominally, with a goal of allowing clients to reap what they sow – mirrored by the name of the company being REEP – this business has been able to make partners of its clients. This partnership results in strong client-business bond, and is emboldened by vertical integration, allowing the equity team to vet each investment for its individual challenges and opportunities before putting together an action plan with the management team. Thus, it has become the exemplary firm it is today by keeping a level head on its shoulders and working with actionable goals in mind, producing business plans that are effective and well communicated, ready to execute from the first day of ownership.

Whether a client is at the stage of working with its equity team, asset management team, or property management teams, each section of this company works together to create perfect synergy, resulting in comprehensive property strategies and day 1 improvements, getting involved throughout the entire process to enable holistic results. This, in short, is what sets it apart from its peers. Involving itself in every stage makes it the perfect answer to strong, thriving markets with underperforming apartment communities, and being based in Texas, it is proud to say that this has been tailored with the Lone Star State in mind; proud to serve the region’s thriving economy, population boom, and job market growth, it finds strong metrics in Texas year after year. Excited to help many more clients in the future to benefit from such metrics, its record portfolio and employee growth is forecasted to continue long into the future, and it looks forward an Anniversary celebration rebrand from REEP Equity and Management respectively to a combined REEP residential moniker.

For further information, please visit reepequity.com

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New Laws to Strengthen Canadians’ Privacy Protection and Trust In the Figital Economy

Privacy protection

Canadians to benefit from clear rules around the use of personal information and responsible AI development

Canadians increasingly rely on digital technology to connect with loved ones, to work and to innovate. That’s why the Government of Canada is committed to making sure Canadians can benefit from the latest technologies, knowing that their personal information is safe and secure and that companies are acting responsibly.

Today, the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, together with the Honourable David Lametti, Minister of Justice and Attorney General of Canada, introduced the Digital Charter Implementation Act, 2022, which will significantly strengthen Canada’s private sector privacy law, create new rules for the responsible development and use of artificial intelligence (AI), and continue advancing the implementation of Canada’s Digital Charter. As such, the Digital Charter Implementation Act, 2022 will include three proposed acts: the Consumer Privacy Protection Act, the Personal Information and Data Protection Tribunal Act, and the Artificial Intelligence and Data Act.

The proposed Consumer Privacy Protection Act will address the needs of Canadians who rely on digital technology and respond to feedback received on previous proposed legislation. This law will ensure that the privacy of Canadians will be protected and that innovative businesses can benefit from clear rules as technology continues to evolve. This includes:

  • increasing control and transparency when Canadians’ personal information is handled by organizations;
  • giving Canadians the freedom to move their information from one organization to another in a secure manner;
  • ensuring that Canadians can request that their information be disposed of when it is no longer needed;
  • establishing stronger protections for minors, including by limiting organizations’ right to collect or use information on minors and holding organizations to a higher standard when handling minors’ information;
  • providing the Privacy Commissioner of Canada with broad order-making powers, including the ability to order a company to stop collecting data or using personal information; and
  • establishing significant fines for non-compliant organizations—with fines of up to 5% of global revenue or $25 million, whichever is greater, for the most serious offences.

The proposed Personal Information and Data Protection Tribunal Act will enable the creation of a new tribunal to facilitate the enforcement of the Consumer Privacy Protection Act. 

The proposed Artificial Intelligence and Data Act will introduce new rules to strengthen Canadians’ trust in the development and deployment of AI systems, including:

  • protecting Canadians by ensuring high-impact AI systems are developed and deployed in a way that identifies, assesses and mitigates the risks of harm and bias;
  • establishing an AI and Data Commissioner to support the Minister of Innovation, Science and Industry in fulfilling ministerial responsibilities under the Act, including by monitoring company compliance, ordering third-party audits, and sharing information with other regulators and enforcers as appropriate; and
  • outlining clear criminal prohibitions and penalties regarding the use of data obtained unlawfully for AI development or where the reckless deployment of AI poses serious harm and where there is fraudulent intent to cause substantial economic loss through its deployment.

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5 Major Differences Between Hiring CPA or CMA

Accountant using spreadsheets and a calculator

Finding the right financial professional can be difficult. Even once you’ve narrowed down your options, you’re faced with another problem: should you hire a certified management accountant (CMA) or certified public accountant (CPA) to help run your business?

Let’s take a look.

 

What is a Certified Public Accountant (CPA)?

A certified public accountant (CPA) is a licensed accountant who can practice public accounting duties, like auditing, taxation, and other daily payroll activities. To become certified, they must pass a 4-part exam issued by the American Institute of Certified Public Accountants (AICPA).

 

What is a Certified Management Accountant (CMA)?

A certified management accountant (CMA) is someone who is certified to practice corporate financial accounting and business management. To become certified, they must pass a 2-part exam issued by the Institute of Management Accountants (IMA), which isn’t American specific.

 

5 Key Differences Between a CPA and CMA

The CPA license is the most popular accounting certification, but that doesn’t mean you should overlook a CMA-certified professional.

Here are the key differences between a CPA and a CMA.

 

1. CPA vs. CMA: Concentration

A CPA works primarily with businesses and individuals, whereas a CMA focuses explicitly on corporate accounting and performance management. A CPA and CMA can handle the same accounting duties, but a CMA looks more at financial statements, taxes, and regulations.

 

2. CPA vs. CMA: Growth Opportunities

Since a CPA certification is more recognized by employers in the US, a CPA is more likely to get hired for a job than a CMA. CMA’s are typically hired for high-level positions, like corporate controller, CFO, or IRS agent, whereas CPAs attract general positions, like tax accountant.

Keep in mind that some employers will hire a CMA for certain CPA positions, but employers usually prefer to hire a general accountant over a specialist. While a CPA gives a candidate a competitive advantage, a CMA can help them transition into a more senior position faster.

 

3. CPA vs. CMA: Exam Requirements

To take the CPA exam, a candidate will need a 4-year bachelor’s degree in an accounting field and 30 extra college credit hours. In some states, they’ll need additional work experience. After they get their license, they need to maintain 40 hours of continuing education each year.

For the CMA exam, a candidate needs a bachelor’s degree and 2 years of work experience. After getting the license, they must maintain 30 hours of continuing education each year.

Typically, an accountant who’s looking to pursue the CPA certification will get a master’s degree, as they’re approximately 0-6 credit hours off from getting a master’s in accounting. If the CPA you’re hiring has a master’s degree, you’ll likely pay more to hire them on as an accountant.

 

4. CPA vs. CMA: Exam Difficulty

The CPA exam pass rate changes each quarter, but the BEC and REG sections have a high pass rate of 55% or higher, whereas the AUD and FAR section pass rates hover below 50%. The pass rate for every section combined is 46-54% depending on the year or test season.

The CMA exam pass rate is much lower than the CPA. According to the latest data, 36.25% of students passed Part 1, whereas 50.5% passed Part 2. The collective pass rate is 43% globally.

While it looks like the CMA exam is harder on paper, it’s more likely that a person writing the test isn’t familiar with general accounting procedures. While you need an accounting-related degree to take the CPA exam, the CMA exam will accept any 4-year bachelor’s degree in any field.

 

5. CPA vs. CMA: Salary Differences

A CPA can make $70,000 per year but may earn as high as $120,000 on average.

A CMA can make $66,000 per year but may earn as high as $95,000 on average.

The amount a person will make as a CPA or CMA will vary based on their location. While CMAs are less expensive to hire, always consider their experience before placing them in senior roles.

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5 Best Environmentally Friendly Colleges

Modern college exterior with green grass and trees

Choosing a college is not a simple task, it takes a lot of responsible decisions, hard work, diligence, and sweat. For those who care about environmental issues selecting a green college is an obvious choice, yet there are many factors to take into account. At first, the students choose the scholarship offers, facilities available and some other important things. 

Green colleges provide a great learning experience while helping to combat problems that are plaguing our planet. They offer fantastic opportunities, comfortable housing, affordable tuition fees, and pay a lot of attention to more global problems. Here, we take a look at some great college options in the US that are known to be green.

 

1. Arizona State University

Those seeking an environmentally friendly college that is green will appreciate what this school has to offer. It is an eco-friendly college that launched a Carbon Project back in 2018. This was done to lessen gas emissions. To accomplish the goal, the students planted many trees, the academic community started using electric vehicles, and car-sharing arrangements were made possible. This university also works with different companies that only practice ethical labor practices and they sell and use products that are sustainably produced.

 

2. Colorado State University

Wondering what makes this place one of our top environmentally friendly colleges? It has a unique process that is used to minimize food waste. There is also a program that helps those lacking access in getting healthy food. There is a Food Recovery Program that sends text messages to college faculty and students when there are leftovers at any catered events. Students can then go to the site to collect unused edibles and eliminate waste.

With weather conditions always changing in Colorado, this college developed the first solar unit for heating and cooling. “The more we can harness the power of the sun, the more we can become eco-friendly and be green”, states Noah Jones, an eco-activist and blogger who advocates for green edprograms and also works for PapersOwl. He goes on to praise Colorado University: “The building is the first of any US universities that allow for complete temperature regulation by using solar panels”.

 

3. University of North Carolina

The campus at Chapel Hill is known to be one of the most environmentally friendly universities in the US. It has introduced multiple sustainability projects in all departments. This green college has an aim to meet three goals, including:

  • Zero waste being sent to landfills
  • Net-zero emissions of greenhouse gas
  • Water usage of net-zero

Energy-efficient buildings are found all over campus at this college and there are green transportation options. The Botanicals Garden Education Center is a project that uses resources from 500 miles around campus. It helps to collect natural rainwater and filter that water.

 

4. UMass Amherst

In Massachusetts, one of the environmentally friendly universities available is UMass. It was the first college to divest endowments from holdings in fossil fuels. This school also only uses food-service providers that offer local food. Located on campus, students will find the School of Earth and Sustainability. This is an institution that launched a hub for research on environmental sciences on campus.

 

5. University of California – Davis

This college has a great goal of attaining complete carbon neutrality by the year 2025. It is one of the most eco-friendly colleges in the United States. Students will benefit from buildings that are energy efficient, there is a Renewable Energy Anaerobic Digester, and a sustainable farm. This digester is capable of transforming more than 50 tons of waste into energy for daily use. This US college also hosts the Whole Earth Festival every year. Here, many academics gather from other universities to promote sustainability and to learn about recent green research regarding energy, water use, pollution, and more.

 

Conclusion

When choosing colleges for higher education, many will want to attend those that pay attention to the environment and offer green programs. From sustainability tracking to programs that reduce waste, there are some top colleges in the US that focus on improving the environment. As a student, choosing any of these listed schools will provide a great way to study in eco-friendly surroundings. Students at these universities can study many subjects and will be able to take part in projects designed to have a positive impact on environmental concerns.

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