Benefits of Using a Financial Data Management Software

Earning money is simple. The real challenge lies in investing it in the right places and managing it with the right tools. A good financial data management software can help you organize and manage the finances in the right way. They can balance your asset, liability, income and expenditure columns in the most comprehensive way. Most companies use the financial data management software to perform an audit in the most comprehensive manner possible. Here are a few benefits of using a financial data management software.

They Help You Balance Your Books

The market is currently flooded with multiple financial data management companies in Illinois. These companies produce some of the finest tools that can help you balance your books in the right manner. Investing some time every day in keeping these tools up to date with fresh data can help you save a considerable amount of time in the long run. Maintaining data in these tools can help you breeze through the audit period within hours instead of weeks or months.

They Keep Track of All Expenses

The financial data management companies in Illinois have come up with smart tools that can automatically track all your expenses efficiently. You can link them directly to your bank accounts to feed fresh expenditure and income data automatically. These tools are often protected by encryption and passwords to help you prevent any chances of theft.

They Help You Channelize New Sources of Income

Having multiple sources income is extremely important today. These sources can help you shift the pressure of an upcoming expenditure in the right way. Having a diversified portfolio of income and investments can help you minimize risk and maximize profits in several cases.

They Have an In-Built Calculator

The top tools have in-built calculators that can perform the necessary mathematical calculations for you. They also have intuitive dashboard interface with colorful charts that can help you visualize your income and expenditure in the simplest manner. These calculators are accurate and require only a few minutes to set up.

They Help You Spend Wisely

Striking a balance between saving and spending is something that everyone struggles with. Having a dedicated tool that can help you spend wisely and make the right investment is the necessary boost that everyone needs today. These tools can help you become truly financially sound and prepared for the worst-case scenarios.

If you are not sure how to use this kind of tools, make a list of all financial data management companies in Illinois that offer these tools first. Then, compare them, test them for a small period and choose the best option. The tool that fits natively into your lifestyle and is intuitive to use will serve your needs in the best way.

Bridging the Gap of Job Creation & Economic Development through Technology, Innovation & Leadership

Where does your entrepreneurial spirit come from?

My entrepreneurial ventures mostly originate from a combination of personal and social needs that I witness. These observations are then paired with confidence and vision that dictates what I need to do to fulfill these needs. We see that many people have fantastic ideas but the amalgamation of courage, perseverance, and confidence is not up-to the mark to see the ideas flourish. I guess as a first generation immigrant I can still save myself from taking things for granted.

What are some ways that you help your clients simplify their technology clutter?

We have developed analytical tools and processes to identify the critical business needs of our clients. We take the consultative approach to understand the business needs, current inventory of hardware, software, network, and talents, combine this knowledge with cutting edge technologies and propose high efficiency solutions.
In the last decade we have mastered the craft of collaborative technologies like middleware solutions, hybrid cloud, and mobile integration. We use these technologies to provide services that are process and energy efficient, intuitive, and scalable.

Often, periodic upgrades and the addition of new technology eventually make it more complex system, which consumes more time, resources, and energy to get the job done. We provide fresh an evaluation alongside clients, helping alleviate fear of new and lighter system that is more cost effective. We also provide hands on training for their staff, which brings a fresh breath of air in the client’s organization with considerable savings and happier employees.

Iyka has won a number of awards and accolades for innovation, which one was the most meaningful to receive?

All recognition for job well done boosts the moral of the team. But real satisfaction comes when a client pats on the back and refers us to others. Our 99% business is through referrals. If I have to name one then I would say that Diversity MBA’s leadership award helped connect major corporate to serve on for-profit boards.

Why do you believe that the major corporations that learn from small business tend to have more success?

They do not learn from small business and have more success. But entrepreneurs with great ideas, product or services do not have same access to financial support and brand power as large corporations. This is the reason a lot of time and money is spent to get their offerings noticed by Major Corporations to get bought. Now the same offering has brand power and receptivity in the buyers’ market but at a much higher price.

A Day in the Life of a Marketing Intern

Hello! My name is Martha Arrizabalo and I am currently a Full Time MBA Candidate. This summer quarter, I am interning for Iyka Enterprises, Inc., which is an IT service provider that delivers innovative technology to their clients, such as application developments, software solutions and database services. Iyka Enterprises was founded in 2000 by Ms. Poonam Gupta, who is currently Iyka’s CEO and President.

I’m working at Iyka Enterprises as Marketing Intern, and I must say that even though I’m an intern, this company has given me the freedom to plan and execute marketing campaigns, and to recommend actions in order to align marketing and sales efforts. One of the things that I enjoy the most of working at Iyka Enterprises is that I work with a multidisciplinary team.

Bellow is a picture of one of our meetings, where there are leaders from all departments: sales, technical, business solutions, advisory, etc.
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A day at Iyka Enterprises would be difficult to define. During the last month, I worked close to IBM, Cisco and Motorola in order to accomplish a partnership between them and Iyka Enterprises. This process involved studying which solutions are the best fit for Iyka Enterprises, following the application process for each of these companies, and taking and passing the trainings required.

I’m very happy to say that these partnerships are finally signed and now Iyka has a more robust portfolio of offerings to promote among their clients. One of my goals now is to plan marketing campaigns that reach new clients, promoting our new portfolio. In addition, one of the benefits of partnering with big corporations is that we have marketing resources available to use. Therefore, I have to be aware of these benefits and work with the partners in order to take advantage of the marketing resources, such as online marketing campaigns, unsolicited proposal campaigns, events, etc.

Currently, I spend much of time defining the marketing campaigns that we will execute in the short run, and working with the sales team in order to verify the process flow between marketing and sales. I also keep working with partners and our sales and technical team in order to identify those certifications that Iyka Enterprises needs, to be able to promote the offerings required in the market.

I’m extremely happy working at Iyka Enterprises! This is a company that hears their employees and recognizes good ideas. My education and previous experience have given me a competitive advantage, and I’m glad to bring my knowledge into Iyka Enterprises. I also must say that while my internship, I have learned valuable insights about the real business world: I have been involved in meetings with clients, where I have observed the negotiation process. I also have been in sales meetings, where I have learned the difficulties that market is having and how approach them. All these insights have nurtured me professionally, and I’m very thankful to Iyka for giving me the opportunity to obtain valuable business insights that help me to grow professionally.

At the end, when my boss call me and ask me to be in a meeting because she wants to know my opinion about something they are working, is the most rewarding part of my day.

12 Easy Steps to Protect your Business from Cyber Security Attacks

12 Easy Steps to Protect your Business from Cyber Security Attacks

It doesn’t matter if you run a small or medium business; cyber security concerns are not only for large corporations. The next time you think you don’t need to worry about hackers and cyber breaches, keep this data in mind:
• 40% of the small businesses that were victims of Cyber-attacks had to close down.*
• It cost an average of $10k per day per disaster.*
• 60% of the customers of small businesses have switched their vendors after cyber attack.*
*Source: Symantec study of 2012

Implementing 12 easy steps can prevent your business from being victim of cyber-attacks. Let’s explain how can you actively approach this issue:
1. Download and install upgrade security software as they become available: Hackers are more sophisticated every day. It is necessary that you upgrade your software systems up to date, so your data is as secure as possible.
2. Make backup copies every day: In case of data lost, a backup copy will help you restore your business in a rapid way.
3. Control physical access: Your data cannot only be available online, information can also be stolen from physical structures. Therefore, the fewer people have access to the physical server, the better to protect your data.
4. Require individual account for each employee: ask your employees to follow business security standards. Using individual accounts will help you track the data accessed by each employee.
5. Limit authority to change: Limiting your employees’ accessibility will help you not only to avoid data breaches, but also to lose information due to inappropriate data management. Give access to those employees who really need to.
6. Regularly change password: I’m sure you have heard this advice many times. This is one of oldest and most effective ways to protect your data.
7. Make it part of “Business Plan;” and review it once a year: Cyber security must be a priority for your business. Make sure to discuss the strategy at least once per year with your management team, and assign resources to keep your business safe.
8. Having Cyber security plan is very important: What is your action plan? You don’t need to wait to be in this position to have one.
9. Make it part of regular meetings: The success of your cyber security strategy relies on your employees as well. Bring the subject to the team meetings, and create awareness among your employees.
10. How do you dispose off old computer and smart phone? This question is very self-explanatory, and every business owner needs to be aware of this possible breach.
11. Mobile Technology (230% increase in mobile malware): In today’s business world, handling mobile devices is necessary. Hackers know about that, and take advantage of these vulnerabilities. If you handle sensitive data on your mobile devices, be sure to have good security software.
12. Proper use of public WiFi: Use a secure VPN in public WiFi hotspots, and try to avoid introducing sensitive information while you are connected.

Your comments are welcome.

Poonam Gupta