KriyaGo - Blog #technology

Signs That You Need to Outsource Your IT Requirements

Mon, 08 Nov 2021 13:30:19 -0500

Running a business is not a simple task. Entrepreneurs have to handle countless workflows and processes every single day. On top of that, they also have to manage the company's IT operations and digital needs.

At times, things go beyond the capability of entrepreneurs to manage IT requirements efficiently. As a result, the growth of the company is hampered, and your bottom line suffers too.

Therefore, it is necessary to spot the signs that tell your business needs professional assistance. Here are the top ones that indicate it's time to outsource your IT requirements.

Your costs are overwhelming

IT can incur huge costs, especially if you handle everything yourself. You will have to buy hardware, set up your servers, maintain an IT team, pay for maintenance, and more.

Therefore, your IT costs can add up to a staggering figure at the end of the month.

Entrepreneurs who find themselves in such a situation should consider outsourcing IT requirements. A survey by Deloitte also shows cost reduction is the top reason for 70% of businesses to outsource.

As a result, businesses can save considerably by eliminating the need to invest in hardware. They also don't need to pay salaries to an IT team or invest in maintenance.

Instead, they can enjoy world-class IT services for affordable monthly payments.

You experience too many bottlenecks

Businesses need a range of resources to manage IT requirements in-house. For example, you need qualified experts to manage your IT infrastructure and run maintenance.

Additionally, you need the right hardware to manage your IT services yourself.

However, not every organization has in-house expertise. Small businesses may not even have an IT team to manage their architectures.

As a result, you are bound to experience a lot of bottlenecks on a daily basis. No wonder 24% of organizations choose to outsource to improve efficiency.

In addition, 18% of businesses rely on outsourcing to access external expertise. Therefore, you can also outsource your IT requirements and boost your productivity.

Your business lacks automation

Automation is the key to grow your business. It can help eliminate manual processes and streamline workflow, irrespective of the industry. Additionally, automation can also reduce costs and save the effort of your workforce.

However, entrepreneurs need solid technical knowledge to implement automation. They need to be experts in technology to choose the right solution for their needs.

Sadly, that is not always the situation. As a result, businesses have to rely on outsourcing to unleash automation.

In fact, 75% of companies look for technologies like robotic process automation (RPA) while outsourcing. It helps them improve efficiency and even reduce costs by up to 60%, says Deloitte.

You cannot digitally transform

Most businesses have already transformed digitally and experienced massive growth. However, some entrepreneurs are still wondering if they should make a move. As a result, they are stuck in legacy systems and data silos that hamper business performance.

You need to outsource your IT processes if you find it difficult to transform digitally. An external partner with due experience can help you eliminate silos and make data free-flowing. Additionally, technologies like cloud computing can bring several advantages to the table.

69% of businesses had already adopted cloud in 2019 to enable digital transformation. It is now time for you to choose a reliable outsourcing partner and unleash digitization right away.

Your organization is target of cybercriminals

Cybercrime is on the rise, especially after COVID-19. Large-scale data breaches are now more common, with a growth of 273% in the first quarter of 2020. Along with that, other forms of cyber-attacks and hacking are becoming widespread, like:

Ransomware
Malware and viruses
Phishing

A single data breach can put your business and reputation at risk. Additionally, it can lower the value of your company by 7.27%.

You surely need to outsource your IT services if you are a victim of frequent cybercrime. It shows you are not capable of securing your investments. Therefore, you need an expert to guide you and make your business more secure.

Your business isn't agile enough

The success of a business depends on how quickly it can react to market changes. Entrepreneurs should always be ready and keep an eye on circumstances to stay agile.

However, many businesses can't respond to market changes as they can't afford the time. They are too tied up with managing their IT requirements. As a result, the entrepreneurs don't have the time to study the market and make accurate predictions.

Outsourcing is the way ahead if you find yourself in such a position. It will help you hand over your IT responsibilities to a proven partner while you stay free to stay updated on the market.

As a result, 40% of businesses choose outsourcing to stay flexible, as per Deloitte. Around 18% of organizations also outsource to become agile.

Moreover, 20% of businesses work with an outsourcing partner to improve speed to market.

Outsource your IT requirements with KriyaGo

KriyaGo can help businesses take advantage of cutting-edge technology to handle IT requirements. Take advantage of all the ERP systems you like and integrate everything together!

Our team has experienced IT professionals and accountants to manage your daily processes. With MiCasa, you’ve a real estate property management solution that works for you.

Additionally, we provide specialized outsourcing services to save your effort. We can handle crucial processes on your behalf, like back-office accounting or help desk for your system users.

With KriyaGo, it’s easier to make strategic decisions and grow your company. Since we have experience in working with businesses of all sizes, we understand your requirements clearly and provide a tailored service for unleashing innovation. With intelligent automation, we can help you create robots that do all the mundane, repetitive tasks for you.

Final thoughts

Outsourcing your IT requirements is the sure way to growth and transformation. You can cut your costs and boost operational efficiency by choosing to outsource.

Additionally, your business will become agile and stay flexible to react to market changes. You will also be able to boost security and protect your business from cyber-attacks. Moreover, you will be able to enjoy top expertise and guidance at affordable rates.

Top Benefits of Expense Management Software

Thu, 04 Nov 2021 15:56:33 -0400

Gone are the days when real estate agencies relied on paper processes and spreadsheets to manage expenses. Today, most of them have switched to expense management software to streamline workflow and improve productivity.

Are you wondering if you should make a move too? Do you need more information to make your decision?

In this blog, we will explore the top benefits of expense management software. We will provide you with accurate data so that you can make an informed decision for your business.

So, let’s start with the most important advantage of using a digital solution to manage your expenses.

Real-time visibility into financial position

You are bound to meet difficulties if you track all your expenses manually. The challenges grow as you manage more properties, tenants, and employees.

The situation comes to a point where you lose visibility into your company spending. As a result, you also lose control over your budget and end up making inaccurate forecasts.

Expense management software can provide real-time visibility into your real estate expenses. You will be able to track expenses as they happen, complete with all information like payer name, amount, time, and more.

Therefore, you can stay updated on every cent that leaves your business.

According to Gartner, real-time visibility enables entrepreneurs to manage risks better. They can also predict disruptions and save up to 20% of costs.

Best of all, you can gain complete control over your spending.

High-quality financial data for accurate predictions

Inaccurate financial data can take a toll on your bottom line. Additionally, they can end up in your reporting and  create a false picture of your financial position.

For example, you can report more profit than actual if your employees miss out on entering some expenses. As a result, you will now have to pay more taxes while filing your returns.

On the other hand, your business will look less valuable if you underestimate your profit.

An expense management tool can come to the rescue and improve data accuracy. It can help real estate agencies eliminate human errors and duplicate entries.

In addition, you can verify and cross-check data seamlessly. Therefore, your organization can aim for transparency and establish accountability for each expense.

Ultimately, you will be able to make accurate forecasts for more success.

Improved operational efficiency

COVID-19 had a detrimental effect on most industries, including real estate. The world around, commercial spaces close down as governments announced months of lockdown. Returns from properties also began to decline, putting entrepreneurs under stress.

According to McKinsey, the unutilized enterprise value of real estate dipped by 25% in most sectors. In the case of lodging, it went down by 37%.

As a result, real estate businesses are searching for ways to boost operational efficiency. They are looking to cut costs and optimize expenses to derive the most value.

Expense management software can go a long way to improve your operational efficiency and reduce costs. You can track every expense and find out whether it’s justified or brings returns.

Additionally, you can automate processes and improve efficiency. You can also reduce your payment cycles and avoid paying late fees.

In the process, you may even  improve your revenues by 20% to 30%.

Conserve resources, money and time

Real estate businesses spend endless hours on manual data entry and reconciliation. They also need days to approve expenses, collect receipts, and create reports that still contain errors.

Additionally, you also need to pay wages for the time given by your employees.

An Expense management solution can help entrepreneurs save time, resources and money in multiple ways. The top contributor is automation that can help organizations save $16 trillion in annual salaries.

You can automate your data entry, receipt collection, and even reconciliations. Additionally, you can create reports with a few clicks and get to the bottom of every transaction in seconds.

According to research, 54% of the workforce believes they can conserve 240 hours every year through automation. Additionally, you can also save the wages you would otherwise pay for those hours.

Moreover, real estate agencies can automate approvals with expense management software. They can also speed up reimbursements and pay your vendors on time.

Best of all, you can use your free time to grow your business and boost productivity.

Generate valuable insights

Expense management software provides real-time visibility and control over your expenses. Additionally, you get a host of reports and analytics to make out your financial position.

Entrepreneurs can use the data to spot trends and patterns in their business spending. They can drive actionable insights and optimize spending to generate more value.

For example, your software can help you zero in on expenses that are no longer necessary. You might find you are paying for a service that you don’t use anymore.

Therefore, you can take action and reduce your spending or choose another service.

In addition, you can integrate your expense management software with your accounting solution. The process will help you streamline processes further and simplify reconciliation.

You can also get ready information when you want to close your books or maintain your accounts.

Implement your expense management software with KriyaGo

Real estate agencies need to work with a solid partner to set up and implement expense management solutions. KriyaGo works with reputed software vendors to offer entrepreneurs the best experience.

We can help you get started with leading products like SAP Concur, Yardi, or Procore. Our team can also provide expertise, train your team, and help automate your business processes.

Get in touch with us today to tell us your requirements. You can also contact us for a free consultation of 1 hour to discuss your needs.

Final thoughts

Expense management software is the need of the hour for real estate agencies. The solution can help them save time, cut costs, and improve operational efficiency. They can also improve data accuracy, remove duplicates, and automate most processes to boost productivity. Additionally, a digital tool can provide complete visibility into expenses and help optimize business spending.

How To Use VoIP Calls In Your Business

Fri, 10 Sep 2021 09:00:00 -0400

With the advancement in technology, more companies are implementing VoIP for quality business communication. A survey by Software Advice found that most companies preferred VoIP over other forms of communication systems. The cost-effectiveness and high reliability make it one of the best systems for your office.

Choosing the right VoIP system requires thorough research and planning. Without proper guidance, upgrading to the VoIP system can look complicated and tedious. If you are unsure about where to start with VoIP implementation, then our guide will help you.

Determine your VoIP needs

Your VoIP requirements depend on your business goals as well as your current infrastructure. Some VoIP features let you use existing equipment while some others require additional tools. You need to determine the following requirements to set up the VoIP system for your business.

The number of users

Determining the number of employees that will use your office VoIP can give you an estimate of how much equipment you will require. For every additional user added to the system, you will need a new line and phone set. But, not every employee needs to be on your VoIP system. According to PCWorld, a business saved about $1200 per month with just 30 VoIP phone users. You can also choose to give employees an extension, instead of their own number and line.

Features

VoIP phone systems come with a lot of different features. According to Finances Online, some of the top features of VoIP are the find me/ follow me function (77%), conference calling (65%), and managing messages (63%). Depending on your business needs, you can choose what to include in your VoIP system.

Certain features like conference calling are in high demand due to the increase in remote work. Similarly, the follow-me option is also helpful if you frequently work from different locations. Instead of having a large number of fancy features, include only those that actually add value to your VoIP system.

VoIP budget

The costs of VoIP differ according to the plan you have chosen. On average, VoIP costs you between $20 and $30 per user per month. Due to a large number of features and attractive plans, it is easy to overspend when planning your business communication system. Having a budget helps you focus on what’s important and spend only on what’s essential.

Set up your VoIP system

Now that you have determined your overall requirements, you can set up your VoIP system for your business. For a VoIP system to work efficiently, it needs the following technology and hardware.

Internet connection

As the name suggests, VoIP runs on internet protocol. A high-speed internet connection can provide excellent call quality. Despite the dependency on an internet connection, a VoIP system does not take up much bandwidth. The minimum download speed for a single VoIP call is less than 0.5 Mbps.

For each voice line you add, the required download speed multiplies. So, a system of 10 phone lines will require a download speed of 5 Mbps. It is better to have higher bandwidth to accommodate additional lines. A congested bandwidth can compromise the overall system quality and efficiency.

Phone system

There are several ways you can make phone calls using VoIP. While desk phones are common, more than 50% of businesses use a combination of fixed and mobile phones for their VoIP calls. Some common ways to set up VoIP phone devices are:

Modifying regular phones: Convert your regular phones into a VoIP device by installing an adapter and connecting it to a LAN.

IP Phones: Ip phones can be directly connected to a LAN. Some IP phones also let you place calls over a WiFi network.
Computers: You can make VoIP calls through your computer by installing a web-based application in it.
Mobile Phones: Similar to computers, you can make VoIP calls through mobile applications.

Training

A VoIP system is as efficient as its user. If your staff does not have adequate knowledge, then your VoIP implementation will be unsuccessful. Provide adequate materials to your employees and train them to use different VoIP features.

Configure your VoIP system considering the needs of your staff. The easier it is to use, the better will be its performance. Constantly interact with your staff in the initial period so they can seamlessly use the new technology.

Backup

VoIP systems are extremely versatile and have a low risk of failure. Yet, for more than 19% of businesses, VoIP reliability is a top concern. Prepare for the worst case scenario by having the right backup options.

The first backup you will need is an additional broadband connection. This prevents your VoIP system from shutting down in case your primary connection fails. Additionally, decide where your calls get directed if your office system fails. Directing calls to your personal phone is an excellent option in case of emergencies.

It is also important to prepare your employees to handle any system failure. This prevents panic and helps you get your communication system on track as fast as possible.

Test your VoIP system

Even with a well-planned VoIP strategy, it is essential to test your system for any potential problems. Recreate several real world scenarios to check the performance of your VoIP system. Does it perform well during high call volumes? Does your internet connection have sufficient bandwidth? Troubleshoot any problems you find so your VoIP system runs smoothly.

Streamline your business communication throughout KriyaGo

Selecting the right service provider makes VoIP implementation easier. KriyaGo works with the top VoIP service providers to help you set up your own channel. Our experts carefully assess your requirements to suggest the right strategy for you. Our high-quality service ensures that you have the best VoIP experience.

We also take care of your data security and privacy by setting up private VoIP networks. This is more convenient, easier, and reliable. Our experts help you throughout the process right from strategy to implementation.

For high-quality VoIP service, contact KriyaGo!

Busting 9 Common Myths About ERP Integrations

Fri, 30 Jul 2021 13:00:11 -0400

ERP software is a fast-growing technology trend among companies. Nearly 50% of companies have implemented ERP to automate business processes. These systems have various benefits like better business efficiency, cost savings, and task management. Yet, some companies are skeptical about implementing ERP.

The main reason for this is the lack of knowledge of what ERP is and how it can help the company. Moreover, certain misconceptions restrict these companies from leveraging the benefits of ERP solutions.

To clear some of these doubts, we have busted the top myths related to ERP software and integrations.

1. ERP is not for small businesses

In today’s world, ERP systems are available for a variety of industries and processes. The objective of ERP is to reduce inefficiencies by automating as many business processes as possible. No matter the size, every business has to take care of financial, managerial, and sales processes. Depending on your requirements, ERP software can be customized and scaled.

There are specific systems meant for large companies while others are meant for smaller businesses. By implementing the right ERP system, every business can leverage its benefits, irrespective of the size. In fact, 65% of small businesses are already taking advantage of ERP systems.

2. ERP systems take a long time to implement

Earlier, complex systems required a long time for implementation. But cloud technology has made ERP systems easy both for implementation and learning. The systems have also been improved and a complete setup is possible within a reasonable time.

If you want to hire an internal team for setting up and operating ERP, it will take additional time to train them. Instead, you can choose an outsourcing company that can help you with ERP implementation and maintenance. They have pre-trained staff who can save your time and make the process more efficient.

3. ERPs only benefit the internal processes of the company

Most companies use ERP for accounting, inventory and distribution, and CRM. While ERP automates internal processes, it also benefits the company as a whole. It can influence employees, investors, and even customers. ERP systems that have integrated CRM make customer management easier. The processes are faster, accurate, and efficient, building the brand image of the company. This attracts both customers as well as investors.

By using data from ERP, you can also get insights into new business opportunities and increase your customer base. By making optimal use of the system, every member of the business is benefitted.

4. ERP systems are expensive

This myth might have some basis in the ERP systems of the past. But with more small businesses implementing ERP, the software has become more affordable to meet their demands. Since most systems are designed for specific business processes, companies only need to pay for what they choose. Even though high-end solutions may be expensive, they still have a high return on investment.

5. ERP and CRM software are the same

This is one of the biggest myths in this industry. While a business requires both ERP and CRM, both differ a lot in features and functions. ERP can automate a variety of functions like bookkeeping, accounting, sales, and management. CRM is a module of ERP which manages customer data for sales and services.

According to a survey by SelectHub, 33% of companies used ERP software for customer relationship management. Even though both are similar, using CRM as a replacement for ERP is not sufficient. What companies actually require is an integrated platform that handles multiple business functions including CRM.

6. ERP systems restrict the working process

ERP systems do not have a one-way process. Instead, they improve the pre-established business processes through automation. Though they introduce standardization and simplify most business aspects, they do not restrict the workflow. The users decide up to what extent ERP systems will be implemented. Nowadays, ERP systems have become so versatile that they can be customized for any type of business. For example, depending on your real estate portfolio, separate ERP systems can be developed for commercial and residential property management.

Many property managers do not like automation as they think it replaces their traditional processes. But ERP is not mere automation. It is the combination of traditional methods and technology.

7. Implementing ERP is a one-time process

Setting up the system might be a one-time process. But ERP software requires continuous updates according to the market trends. As technology changes, the company also adds new features to the software. If your business has grown or introduced a new product, your ERP software will also need the necessary features. Even if nothing has changed and your ERP software is doing well, the system requires regular check-ups to avoid any further challenges.

8. ERP gives immediate benefits

It is also wrong to assume that once you have installed ERP, you will immediately reap benefits. Even after implementation, ERP systems show visible results only after a few days or months. This is usually because employees take a while to get used to the new software. According to the functions and features, you might also need to streamline some business processes to suit the software.

9. All ERP outsourcing companies are the same

Not all ERP products and companies are the same. They differ in their features, functionality, and process. Some tools are better for accounting while others are good for CRM. The ideal ERP outsourcing company should be able to understand your requirements and suggest solutions accordingly. Do they have solutions for your industry? Are they updated? Do they provide after-sales support? As ERP implementation isn’t a one-time process, the vendor needs to provide you long-term support. By choosing the right outsourcing company, you can smoothly implement ERP for your business.

Implement the Right ERP Software with KriyaGo

KriyaGo helps clients automate their business processes by building the right ERP strategy for them. Whether it is software selection or integration, we can help you leverage the benefits of different platforms. With state-of-art software like Yardi, Procore, and SAP Concur, we have solutions for all property management functions. Our professional team can understand your requirements and provide unique insights through their extensive knowledge. Along with integration, we can also take care of support, data integration, and staff training.

For a complete ERP solution, reach out to KriyaGo!

Five Questions to Ask Yourself Before Hiring a Managed IT Service Provider

Tue, 06 Jul 2021 09:00:00 -0400

Most businesses nowadays prefer outsourcing their IT needs. Whether they are a small startup or a big company, a managed IT service provider can take charge of an organization’s technology requirements. It is a cost-effective and time-saving decision to hire an expert.

Outsourcing can address different problems effectively. Some may not want to have an in-house IT department, while others may want to utilize new technologies. No matter what the reason, every organization needs to answer these five questions to understand their requirements better.

What do you want to achieve by hiring an IT provider

Each company defines its own targets for hiring an IT provider. The main benefits of outsourcing your IT needs are:

Rely on pre-trained IT providers to save up on cost and effort
Free up internal IT resources
Access to better technology and services
Better handling of IT issues like downtime

Determining your goals before hiring an IT provider can make the process much easier. Managed service providers have different services based on the client’s requirements. It is essential to discuss your needs as well as their approach to avoid any confusion later.

How much do you want to outsource?

Managed IT service providers are not only for those companies who do not have an in-house IT department. Some companies choose to work out a balance between outsourcing and relying on their internal team.

If you have a dedicated IT department, identify the areas your team lacks in. Do you need to utilize the latest technology? Or are there too many projects for your staff to handle? Specific functions can

You can choose to hire a provider for a single project, or hand over specific functions, or completely outsource your IT requirements.

What is the change in ROI?

Most companies outsource their IT requirements to reduce the total cost. By outsourcing, you have control over your expenses. Depending on the company’s requirements, you can pause the services or scale them and pay accordingly. This isn’t possible with an internal IT department as you will have to pay employee compensation regardless of the workload.

But a short-term increase in ROI isn’t something you should be looking for. Technology evolves regularly. If your IT provider isn’t updating themselves or growing with your company, this deal can become expensive in the longer run. All this, without having your IT needs met.

How can the IT provider help with your current requirements?

There are specific requirements you would want to address when hiring an IT service provider. If you already have an in-house team, you should look for additional benefits an IT provider can help you with.

For example, most businesses do not have a data recovery plan. In today’s cyber-centric world, no one can predict an IT disaster. If you are investing in an IT service provider, you should consider their ability to recover data if your infrastructure goes down.

Another aspect you should consider is their reliability. While you are outsourcing, you have little control over the way your work is handled. Hiring a trustworthy provider will ensure they perform their duties diligently.

Your service provider is an active part of your business growth. Understand what value the MSP will add if you choose to outsource to them. With the development of your business, your needs will also change. Is the MSP willing to accommodate any changes in plans? Are they able to take up the additional workload? When hiring a managed service provider, it would be good to ensure that you are their priority.

How does the service provider plan to keep you in the loop?

When hiring a managed service provider, monitoring their work is a little tricky. But, there are multiple ways through which you can keep check of the progress they make. Most MSPs have a procedure to keep their clients updated. You should check for these:

Reports: How often will the firm provide you reports of the work? (weekly, monthly, or quarterly)
Meetings: In-person or online sessions can give you insights into their work and help you convey any changes if necessary.
Admin Portals: Some service providers have portals where you can check on their work anytime. They will include reports and updates on different projects assigned to them.

Your business heavily depends on the digital infrastructure, and if people outside your company handle this, you wouldn’t want to be ignorant about it.

What are the Pros and Cons of outsourcing your IT requirements?

Hiring a managed IT service provider has several benefits like reduced costs, access to better technology, and access to a better skillset. It also has some minor drawbacks that can be handled well with proper planning.

Issues often arise if you work with an unqualified agency. When you outsource, you hand over a major part of your company’s data to your service provider. This data is both valuable and confidential. The first significant risk would be data loss. If the MSP doesn’t have a data recovery plan, bringing all your data back will be difficult.

Another risk is leaking confidential data. You can avoid this risk by choosing a trustworthy and reliable MSP.

An indirect effect of outsourcing would be on your employees. They can assume you are planning to lay them off. If you do or do not have such plans, it is important to discuss them with your employees beforehand.

Choose the right service provider

Digital infrastructure and the data it holds are your company’s most significant assets. When hiring a managed IT service provider, keep your requirements in mind. Thoroughly research the potential of outsourcing your IT needs and knowing about the service provider.

MSPs can add value to your firm by bringing in the latest innovations and helping your firm grow with technology. Your relationship with your MSP should be built on confidentiality, reliability, and efficiency.

KriyaGo can help you in integrating different real estate technologies so you can work with them easily.