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Understanding the Importance of SAP

Today’s businesses are not just powered by competent employees and standout leaders. It is also run by software and solutions that make the regular workplace into something that’s more efficient, secure, and most importantly, productive. Without solutions, companies could lag behind the competition.

There are various office solutions that businesses can use to make the entire system more operational. One that you might want to heavily consider is SAP. Currently, this is the most effective means to power and provide room for growth for a company. It’s also one of the best investments you can make.

What Is SAP?

SAP or Systems Applications and Products is essentially an enterprise resource planning software. It helps companies create a centralised system where all departments have access and permissions to common data. This helps create a streamlined working environment for the entire company including the employees.

In hindsight, SAP is basically a selection of modules and features all integrated into one system. When combined, these features create a system that makes the workplace function more efficiently. It allows businesses to deliver better results but that’s just the gist of what SAP can do.

The importance of SAP to a standard business is valuable. There are actually many reasons as to why companies should begin investing in such a system. If you are looking to help your business reach its maximum potential but are yet to be bought by the concept of SAP, then you might want to read further.

Benefits of SAP

1. Data Management Efficiency

One of the most important aspects of business nowadays is data. How you manage it, handle it, use it, and understand it, will give your company a ton of benefits and room for growth. SAP is one of the ways you can fully utilise the data that your business generates too.

Look at it from a common situational perspective. You’re running a restaurant and you generate a ton of data regularly already. These data include the common time that people visit the restaurant, the top dishes they order, and the common demographics of your customers. At its base form, this type of data is not as useful as you think.

Some features of SAP lets you not just manage your data, it’s also about helping you organise and analyse the data that you have. Doing this allows you to put your data to good use instead of just leaving it there in its most basic form.

You can use data as a means to grow your business. In the situation above, you can use the data to understand what types of dishes your customers prefer. You can also understand the common types of customers that your business appeals to as well.

2. Mitigate Data Risks

You shouldn’t just focus on how you can utilise data for your business, you should also work on mitigating the risks that come with data management. Systems like Maextro for SAP come with features that focus on increasing digital security. These can prevent major losses and even lawsuits for your companies.

All it takes is one system vulnerability and threats like malware, ransomware, and other viruses ruin your data. One of the last things you’d want is to be on the receiving end of a data breach. These costs millions in damages and they often lead to lawsuits as well.

Improving business security is a big plus for businesses. One can never really tell whether his security is already good enough. With SAP managing your data as properly as possible however, you can mitigate the risks by a huge margin.

3. Improved Business Efficiency

This is one of the major benefits of getting SAP for your business. If your business does repetitive tasks such as inventory management, order processing, or even payroll processing, it’s more efficient to have SAP streamline or even automate the processes.

What most business owners don’t realise is that they are doing less with a lot of effort by not utilising SAP. You can use the system to help automate and streamline most repetitive tasks, thus lessening the workload on the end of your employees. Instead of focusing on repetitive tasks, they can do other things instead.

For businesses, the capacity to automate certain tasks is a huge deal. Not only does it make businesses run more efficiently, but it can also prevent lesser mistakes as well. SAP is more than capable of making businesses be at their best through efficiency and smart business management.

4. Start Business Savings

As you begin to run your business more efficiently and protect your data more properly, you’ll be able to start saving money with regard to how you run your business. Many businesses struggle with money management but that’s because they aren’t fully utilising the assets at their disposal.

As you start to grow money through your business, you’ll have a lot more budget to place in for more investments. You can begin upgrading products, services, and even start to hire more excellent professionals in your service. SAP isn’t a free service but the returns you get from the investment are more than worth it.

5. Better Business Scalability

If you want to grow your business, you need to make the most with what you have. For new businesses, this can be a challenging task. Even with a great team working for the company, business scaling is a very complex process as there are many things to consider and worry about.

SAP allows you to easily scale your business. Then when it starts to grow, you can begin scaling your business once again. Being able to scale alongside growth is a good thing for businesses and it definitely ensures that your business is able to handle the changes being implemented through growth as it expands.

Investing in SAP is a good way to help your business grow and flourish. While such systems aren’t a necessity, it’s still going to help improve how you handle and operate your services. In terms of growth, you can’t find better potential than with a SAP system for your business.

Pinsent Masons advises NTR group on €370 million refinancing

Multinational law firm Pinsent Masons has advised NTR on the €370 million refinancing of its 220MW onshore wind portfolio.

NTR plc is a leading renewable energy company based in Dublin and has transacted more than €3 billion of sustainable infrastructure investments in wind, solar, bioenergy, water treatment, energy storage and recycling over the past 15 years.

The transaction concerned the group’s NTR Wind 1 LP fund’s portfolio of twelve operational onshore windfarms across the United Kingdom and Ireland and saw the replacement of the individual project financing arrangements with new facilities totalling around €370 million, made available by five lenders.

The Pinsent Masons team acting on the transaction was led by Partner Gillian Frew and Senior Associate Michael Duffy, alongside a multi-discipline, multi-jurisdiction team.

Commenting on the deal Gillian Frew said “Reaching financial close on this transaction demonstrates robustness and resilience in the renewable energy sector during the pandemic and shows that well-structured deals can still be financed on flexible terms. We were delighted to support our long standing clients, NTR, through the process.”

5 Rules Of Money Management For Small Businesses

Individuals must know how to manage their money to become rich so you also need to know how to manage your business money to be successful.

Just like an individual, your business also needs to pay for the cost to survive. How to spend money effectively without getting caught in debt or going into debt?

Individuals must know how to manage their money to become rich so you also need to know how to manage your business money to be successful. With businesses, you will have to work with employees, suppliers, tax authorities. How to work with them, you always take advantage of the money you spend.

Here are 5 rules to help you manage money for your small business:

1. Minimise The Cost Of Life

If you are managing your own small business for the first time, the above principle is extremely important in the first few years. Calculate how much money you need to cover your monthly living and withdraw the right amount of income from your business. With the remaining profit, invest back into the company. Let that money serve growth.

It will be exciting to make money from a business, but many new business owners use it on expensive vacations or homes. Resist those impulses. Wait until the business has gone through a few years, then you can start taking those profits to enjoy yourself.

2. Do Not Hire Employee Early

In a fledgling business, the biggest expense, by far, is employee salaries. As the business gets busier and you seem to be overloaded, it’s time to hire a new employee right away. However, make sure it is essential.

Never hire staff until you need them. Always ask your current staff to work hard to make sure they work to the best of their ability.

3. Strategic Use “Jit”

JIT is an abbreviation of “Just In Time”. This is a strategy to reduce the cost of loans and inventory in all business forms.

For example, if you estimate you need to cover your expenses for next year, there’s no need to borrow the entire amount at once. Because if you do that, you’ll have to pay interest on the entire amount when you don’t use it up until the end of the year.

Instead, you will borrow that estimated amount in the first 2 months of the following year (except for the month of the new year holiday). Then borrowed it again for the next 3 months. Following this rule, you will reduce the total amount of interest payable to the bank. So that money will increase and you save a large amount of money after a long time.

4. Agreement With Supplier

When dealing with external contractors or suppliers, such as delivery services, food delivery, electricity, security services, do not hesitate to negotiate contract terms. Choosing a provider that allows you to pay after 30 days of receipt of service bills instead of paying immediately.

That grace period allows you to better manage your money and organise your bills in order of priority. Many peers always allow this but need to be willing to ask when they want to pay immediately.

Year: Do Not Pay Money To Wage Payments

State tax law requires business owners to deduct an amount in addition to employee salaries such as Social Insurance, Health Insurance, Union Funds and Unemployment Insurance for each payment period. Businesses will have a certain extension period before they have to submit this fund report. As a business owner, it’s important to keep those funds separate from other funds. Don’t use this money to invest or cover daily expenses.

Instead, put the money in a separate account that you cannot touch. This will help you avoid spending money that you don’t have to. It’s a good habit to keep your business free from violations at the end of every month. State fines will not tolerate such cases. Nowadays there are a number of maintenance planning training and maintenance planning courses were available online from that you can get more ideas for maintaining your business easily.

2020 Certificate of Excellence Logo

If you join Advisory Excellence you will be issued a 2020 Certificate of Excellence logo for your website and email signature. Founded in 2013, the Certificate of Excellence honours firms that deliver consistently great service. This designation is given to experts who have been recognised by Advisory Excellence over the past 12 months. Establishments earning the Certificate of Excellence are located all over the world and do outstanding work.

Advisory Excellence - 2020 Certificate of Excellence Logo

Advisory Excellence is fundraising for Get Kids Going!

Advisory Excellence is raising funds for Get Kids Going! on the JustGiving website and would appreciate our readers’ support. JustGiving is a global online social platform for giving. Donating through JustGiving is simple, fast and secure. Your details are safe with JustGiving – they’ll never sell them or send unwanted emails. Once you donate, they’ll send your money directly to the charity. So it’s the most efficient way to donate – saving time and cutting costs.

Get Kids Going! is a national charity which gives disabled children and young people – up to the age of 26 yrs – the wonderful opportunity of participating in sport. We provide them with specially built sports’ wheelchairs so they can do: athletics, marathons, tennis, skiing, rugby, sailing, boccia, basketball, sledge hockey, table tennis, fencing, shooting, archery, powerlifting and many more sports. Get Kids Going! inspires British disabled youngsters to compete in sporting events, from start to Paralympic level, by also giving them sports grants to help with their; training, physiotherapy, travel, competition fees, design and development of sports’ equipment etc. With your help many can become world record holders and Paralympic champions!

Our aim is to give support to all our budding Paralympians in the build up to the 2020 Tokyo Summer Paralympics, the 2022 Beijing Winter Paralympics and many more such events. Like any aspiring athletes all our youngsters need long-term support, often over many years, to achieve their sporting dreams. Sadly, we are aware of cuts in funding for such youngsters from the government and other sources, and so many of our youngsters are forced to rely on friends and family for financial help. As you can imagine, this causes enormous burdens on many, already cash strapped, families and a constant worry as the cost of participating in their favourite sport is forever increasing.

There are hundreds of talented, disabled, youngsters who have the potential to participate in events throughout the UK and all over the world but receive either none or very little funding and are desperate to achieve their life-long sporting dreams. With your help, together we can turn their dreams into reality and help make them into sporting heroes!

Not only does Get Kids Going! focus on helping disabled young athletes but it also provides manual wheelchairs for children to use every day; at home, at school, and to enable them to play with their friends. These are our wonderful athletes of the future! We believe that all disabled children and young people should receive the right equipment to get them going!

We support children with all disabilities and from all backgrounds. We take pride in ensuring that any equipment which is out grown is recycled to other children, so our supporters’ valuable donations are never wasted. Many people who support Get Kids Going! feel a marvellous sense of achievement and satisfaction. They see that even the smallest donation makes an amazing difference! Get Kids Going! gives disabled children and young people the chance of a life time, freedom, and many wonderful opportunities that you and I take for granted. Opportunities they may never have without you and the support of Get Kids Going! No other charity in the UK focuses on helping disabled children and young people with sport in the same way.

The cost of a bespoke sports wheelchair is about £4,000. A lightweight manual wheelchair is around £3,000. All are designed individually, and perform just like a Formula 1 Racing Car!

The cost of a sports grant can be anything from £500 to £15,000 per year for each youngster.

In general there are over 200,000 disabled children and young people in Britain who need the help of Get Kids Going!

Help us turn their dreams into reality!

Commercial Arbitration in Zimbabwe

Adjudication, arbitration, conciliation and mediation are some of the alternative dispute resolution mechanisms in use in Zimbabwe. Of these, arbitration is the most prominent one. On the 13th of September 1996, Zimbabwe repealed its outdated Arbitration Act (Chapter 7:02) and replaced it with the Arbitration Act (Chapter 7:15). Through section 2 of the said Act, the country adopted with minor modifications, the United Nations Commission on International Trade Law (UNCITRAL) Model Law. The said Act applies to every arbitration agreement, whether made before, on or after the 13th of September 1996. It covers both domestic and international arbitration.

Matters that are not capable of determination by arbitration in Zimbabwe

In Zimbabwe, the following matters are not capable of determination by arbitration:

      (a) An agreement that is contrary to the public policy.
      (b) A dispute which in terms of any law, may not be determined by arbitration.
      (c) A criminal case.
      (d) A matrimonial cause or a matter relating to status, unless the High Court gives leave for it to be determined by arbitration.
      (e) A matter affecting the interests of a minor or an individual under a legal disability, unless the High Court gives leave for it to be determined by arbitration.
      (f) A matter concerning a consumer contract as defined in the Consumer Contracts Act (Chapter 8:03), unless the consumer has by separate agreement agreed thereto.

Arbitration in Zimbabwe

Since the introduction of the Arbitration Act (Chapter 7:15) the use of arbitration as an alternative dispute resolution mechanism has gained momentum. Most commercial contracts contain an arbitration clause that enables the parties to choose arbitration as their preferred method of resolving any existing or future dispute between them arising out of or in connection with the contract, including any question regarding its existence, validity or termination.

Most contracts nominate the Commercial Arbitration Centre (CAC) in Harare as the appointing authority in the event that the parties are unable to agree on an arbitrator. The CAC was founded in 1995 by Muchadeyi Masunda and Ian Donovan, the godfathers of arbitration in Zimbabwe. It was the first arbitration centre to be established in Zimbabwe. The second centre, Africa Institute of Mediation and Arbitration (AIMA) is relatively new. It was established by Justice Moses Chinhengo (retired) in 2013. Most of AIMA’s panellists are retired judges. The CAC’s panellists are mostly senior lawyers, retired judges and professionals within fields such as Construction, Engineering, Accounting and Banking.

Advantages of Arbitration

More and more businesses are resorting to arbitration as a dispute resolution mechanism. This is because arbitration offers them the following advantages:

      (a) It helps them resolve their disputes in a less antagonistic manner, thereby enabling them to preserve their business relationships.
      (b) They are able to keep the dispute and its resolution away from the public, and are thus able to protect their secrets.
      (c) They are able to appoint or contribute towards the appointment of the arbitrator.
      (d) The flexible nature of the arbitral process makes it possible for them to structure the arbitral process the way they want.
      (e) It tends to be quicker and more cost effective than litigation.
      (f) The arbitral award is final.

Challenges of arbitration in Zimbabwe

Whilst the use of arbitration as a dispute resolution mechanism in Zimbabwe continues to grow, the field faces various challenges. For example, there are hardly any resources on commercial arbitration in Zimbabwe. Moreover, there is virtually no training for arbitrators taking place in Zimbabwe. Although there are several Fellows or Members of the Chartered Institute of Arbitrators in Zimbabwe, most of these received their training outside the country or by correspondence.

Finally, apart from a few articles, there are no publications on commercial arbitration in Zimbabwe. The one book written many years ago by Muchadeyi Masunda and Ian Donovan has been out of print for over a decade.

The Book Commercial Arbitration in Zimbabwe

In my forthcoming book entitled Commercial Arbitration ln Zimbabwe, I highlight the undesirability of the state of affairs described above, underscore the importance of having trained arbitrators, and call for the training of arbitrators.

The book will be of interest and benefit to arbitrators, lawyers, students of arbitration, judges, and t hose who deal with local and international contracts which include arbitration clauses.

Anyone wanting to know about commercial arbitration in Zimbabwe, the relationship between the Zimbabwean judiciary and the arbitral process, the attitude of the Zimbabwean Courts towards arbitration agreements, how arbitral awards are enforced in Zimbabwe and the circumstances under which arbitral awards might be set aside by the Courts should struggle no more as through the book they will have easy access to that information.

The formation of the African Arbitration Association in 2018 should encourage each African country to have readily available resources on the conduct of arbitration in their jurisdiction. This way, arbitration practitioners from different jurisdictions can share information and draw from each other’s experience with arbitration. The book Commercial Arbitration in Zimbabwe is aimed at doing exactly that for Zimbabwe.

Topics Covered by the book Commercial Arbitration in Zimbabwe

The book covers a wide range of topics, including:

  • The historical background of commercial arbitration in Zimbabwe,
  • Characteristics of arbitration,
  • A comparison of arbitration with litigation,
  • The advantages of arbitration,
  • The appointment of arbitrators,
  • The qualities and qualifications of arbitrators,
  • Types of arbitrators,
  • The difference between the seat of arbitration and the venue,
  • Principles of natural justice,
  • The arbitrator’s powers,
  • Interim measures,
  • Security for costs,
  • Termination of an arbitrator`s mandate,
  • Liability of arbitrators,
  • Preliminary meeting,
  • The hearing,
  • How to deal with a dilatory disputant,
  • The Zimbabwean judicial system,
  • The courts and arbitration,
  • The structure and types of arbitral awards,
  • The registration of awards,
  • The functus officio doctrine,
  • When an arbitral award may be set aside and the effect of setting aside an award,

It is hoped that this book will promote the use of arbitration as a dispute resolution mechanism and shine a spotlight on commercial arbitration in Zimbabwe.

Davison Kanokanga (http://www.kanokangalawfirm.net/)