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Despite the time people spend using Excel, according to Acuity Training’s research, fewer than half have ever had any formal training in how to use Excel. Even fewer know how to use Excel formulas to their advantage.

Nonetheless, Microsoft Excel is one of the tools that many entrepreneurs use day in and day out to manage data in their business. With the help of Acuity Training we have shortlisted five new Excel formulas all entrepreneurs should know.

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1. XLOOKUP Is an Excel Formula to Help You Find Data

Entrepreneurs often spend time summarizing their data. Excel’s lookup functions are well-suited for this purpose.

Recently, Excel announced a new lookup function they call XLOOKUP. This Excel formula is more flexible than the previous lookup functions such as VLOOKUP, HLOOKUP, and LOOKUP. XLOOKUP is only available in Excel 365 and later versions.

To use this formula, type =XLOOKUP. Then choose from among the following functions:

• Lookup_value: This is the target value you want to look up from the data
• Lookup_array: This is the range of values from which you want the formula to find the target value
• Return_array: This is the range of returned values if the target value is found
• If_not_found: Optional. This refers to the returned value if Excel does not find the target value
• Match_mode: Optional. In this case, 0 = exact match (by default); -1 = exact or next smallest match; 1 = exact or next larger match; 2 = wildcard entries
• Search_mode: Optional. 1 = start lookup from first value in the range (default); -1 = start lookup from the last value in the range

Refer to the example below to gain a basic understanding of how the Excel formula XLOOKUP works.

2. MAXIFS and MINIFS Formulas Will Find Values Based on Your Criteria

MAXIFS and MINIFS are Excel formulas you can use to return a value based on multiple criteria.

You can use the logical operators (<, >, =, <>) to define your criteria. Both functions can work on dates, texts, numbers, and other data types.

The MAXIFS Excel formula will return the maximum number that supports the criteria you define. The MINIFS will return the minimum number that supports the criteria you define. Both functions have a similar formula structure. For example:

=MAXIFS(max_range, criteria_range1, criteria1,…)

These are the options that work with this Excel formula:

• Max_range: This is the range of values from which the maximum value will be returned
• Criteria_range1: This is the range for the first condition you want the formula to use
• Criteria1: This is the actual condition to evaluate the criteria range

Refer to the examples below, where the operator has used both functions to quickly identify the maximum and minimum Total Sales for all the “Departmental Stores” located in the “North” region.

3. Dynamic Array Is an Important New Excel Update

Dynamic array is one the most important updates that Microsoft Excel has implemented to Excel’s formula engine. It works best with formulas that return multiple values and means that there is no need to drag your formula to the last cell of the range.

By defining the range in the formula, the dynamic arrays automatically spill the output values throughout the defined range.

In the below example, we used the LEFT function to separate the Country Code. By defining the range in the formula, we got the returned value for the whole range at once.

Please note that dynamic array formulas are only available as native formulas in Excel 365 and later versions. Also, dynamic array formulas are a big topic so if you’d like to learn more go to the Acuity Training website and search for “dynamic array formula.”

4. Use the Excel Co-Authoring Formula to Collaborate

Entrepreneurs often need to work in a collaborative environment. Co-authoring in Excel streamlines the process of sharing a workbook with other team members. The co-authoring feature rolled out on Excel 365 and later versions.

With co-authoring, collaboration with other team members becomes flexible and easy. For example, you can share your workbook with other team members and allow them to work on it without leaving the Excel window.

To do this, follow these simple steps:

First, you need to make sure that the workbook is uploaded on OneDrive or Microsoft SharePoint.

After uploading the workbook onto the cloud, then click on the Share button at the top right corner of the Excel window.

At this point, if you haven’t already uploaded the workbook to the cloud, a prompt will appear to tell you to do that.

Next, a new window will appear asking for the email addresses of the members with whom you want to share the workbook.

5. Work More Efficiently with Excel Shortcut Keys

There is a huge range of shortcut keys that Excel offers to speed up your work. These shortcut keys make you super-efficient once you get a grip on them.

Below are some of the most frequently used shortcut keys that you can include in your routine while working on Excel.

There are several other shortcut keys that are quite helpful in getting the task done quickly. By learning and practicing them, you can surely increase the speed that you work in Excel. For full details on Excel shortcuts see the article on the Acuity Training site which lists more Excel shortcuts.

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Final Thoughts

Entrepreneurs deal with large volumes of data but learning a few Excel skills can save a lot of time. Hopefully this article will inspire you to keep improving your skills.

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Online stores are made for public convenience. Have you ever thought about why they offer doorstep delivery, freedom to compare and select products, and more benefits? It’s because they want to increase their online sales.

The competition among online stores is extremely high. Some online stores now carry almost every item a household might need. Additionally, consumers can buy online the things that are difficult to find at nearby stores. Shopping for necessities has become easier and cheaper due to online stores. By adopting drastic changes and updating strategies these stores successfully increased their sales.

If you are concerned about the sales results of your newly opened online store then focus on some proven steps and strategies to promote sales.

Importantly, according to market analysts, conversion optimization is key to success in this regard. It can help to identify your valuable visitors and take steps to improve conversions. There are countless other ways to increase the sales in your online store. But you might be missing the best ways to implement these strategies. Read on to learn more.

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10 Ways to Quickly Increase Your Online Sales

If you want to boost your online sales, set your mind along with your strategies. Clear your doubts and seek to understand exactly what your goal is.

For this purpose, write out both a clear vision and your mission statement. These will help you properly execute your strategies.

Next, use the tips we offer below. These will provide you with both quick and long-term increases in the sales in your online store.

1. Be Straightforward and Honest for Better Online Sales

Today’s visitors scroll online sites to check out products. So be careful never to make false statements. Don’t promise what you’re not willing to deliver. Also, refrain from hyperbole and don’t try to trick potential customers into buying from you with subterfuge. All of this will backfire on you.

Consumers these days are aware. They know how to gather information from multiple sources. Also, they know how to call you out online if they catch you cheating, even when you try to sound sincere.

So always be truthful in your dealings with your customers, even when you need to own up to a mistake. This will restore your good reputation and impress your site’s visitors.

Additionally, such a strategy will build trust over the long term. You will be rewarded with long-standing relationships with your customers over time. This will automatically boost your sales over the life of your business.

Follow this strategy especially if you wish to pass your online store on to your children. But even if you only have your own financial well-being in mind, operate honestly at all times. Otherwise, you will find yourself unable to survive in the competitive world of online sales.

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2. Use Ad Extensions

The secret to increasing your online sales is to be open and intuitive about what your customers are looking for. Here’s a perfect example to illustrate this point. This is a true story from an actual online store.

A woman was searching online for a beautiful kurta in a mustard yellow color. The seller had posted an ad that combined a kurta of the exact color she was looking for. However, along side it, the seller had also placed an image of a pair of green earrings.

It was a lovely pairing and the customer loved it. Moreover, to seal the deal, the seller had also posted an ad that offered a special discount for this very combination. The woman happily snapped it up.

So take this as a brief lesson. Use a little bling to catch your customers’ eyes and win their hearts. And also use AdWords to gain clicks and upsells in your online store.

3. Utilize a Smart Sampling Program

Digital product sampling is another way to build trust with your customers and increase your online sales. This helps you reach more people who are actually looking to buy what you’re offering. Naturally, this strategy will drive sales.

Choose a sampler that offers a reliable, all-in-one platform such as sampler.io. They will directly target your high-value customers. Their platform also includes a doorstep delivery facility with many impressive features.

Samplers promise customers safe and contactless delivery, a big concern for many consumers. Additionally, they even help your visitors with step-by-step guidance to sample and buy any of your products. Therefore, the more you maximize your product sampling the more you increase your sales.

4. Extend a Money-Back Guarantee for More Online Sales

It often happens that a customer will leave an online site after adding a product to their cart but before making a purchase. One common reason for this is insecurity about the product’s performance.

This frequently happens with electronic items. A potential customer feels their money will go to waste, or they fear they will be forced to buy something with the money they spend if the product doesn’t work.

But a money-back guarantee assures your customers that they will get a refund if the product doesn’t work for any reason. This gives them a secure feeling. Also, they believe more in your online store and will be more likely to select you for their next purchase.

5. Facilitate Quick Browsing

One thing that will be sure to irritate your site’s visitors is slow website performance. You will never achieve your online sales goals with a sluggish website. Your visitors will move on to other online stores and will never come to your store again.

So provide them with a pleasant experience by providing a fast-performing website. This will make it easy for a visitor to check out several products before they make a purchase.

Quick loading times for product images and clear specifications will keep your visitors interested. Also make sure your website is accessible on smartphones, iPads, laptops, and other devices.

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6. Offer Fast and Easy Payment Methods

One study suggests that a lengthy checkout procedure is a key reason visitors lose interest before buying. In this ever-changing world, everything runs very quickly. Your website’s visitors have brief attention spans. Plus, time is their most valuable commodity, and they know it.

So save your visitors’ time by keeping your checkout formalities brief and quick. Also, be sure to accept several payment methods. This will make checking out of your online store convenient, and you’ll win several different types of consumers as your regular customers.

7. Provide Fast or Preferred Delivery Date and Time

Your delivery team needs to be punctual and smart. Other online stores are updating with a variety of features to impress their customers. They offer preferred delivery dates and schedules to suit customers’ schedules.

Do the same and you will create friendly relationships with your customers, too. They will feel grateful for the special treatment and possibly even give you a great review. Positive customer reviews are important for impressing visitors and converting more leads into customers.

8. Sell Only Quality Products and Make More Online Sales

Having fewer numbers of superior quality products is better than having hundreds of poor quality products. Good quality will impress your consumers. Also, be sure to select a collection that will improve customers’ buying experience.

Remember: To gain trust and build long-term relationships with your buyers, always double-check the quality of the products you sell in your online store.

9. Furnish Proper Product Descriptions

Before a visitor buys something from your online store they want to know everything about it. Concealing information about a product or providing dishonest specifications will make you lose customers’ trust. So be transparent with your visitors and gain more online sales. Besides, proper product descriptions make the buying experience more convenient for your prospective customers.

10. Leverage Social Media Platforms for Online Sales

You can use social media to promote your online store for free. However, aim for a professional-looking layout. A better display will provide you with better sales results. Facebook, WhatsApp, YouTube, and many other platforms make it easy for you to reach out to your target audience and sell your products online.

Conclusion

The above-mentioned ways will provide your online store with more leads and more sales. But to gain even greater success, turn to the help of professionals for best-in-class results.

It may seem to many that the work of a project manager is quite simple. That is, she or he needs to select the best specialists for the team and then simply coordinate their work to get the desired result. Ideally, everything looks like this. However, in reality, every project manager faces many pitfalls.

First, you should understand that when you are in charge of a project, then everything related to responsibility, fulfillment of plans, and achievement of the goal is completely on your shoulders. However, the specialists you gather will implement the project itself. This is why the ability to lead is not the highest priority. Importantly, you must build a team that will not only carry out the task but will be able to offer what will be best for the project.

Therefore, approach team organization thoughtfully. Make it a priority to choose people with whom you will want to work not only on the project at hand, but also on future projects.

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Remember That Time Is Money

It is best when you have specialists to whom you can set an abstract task and they will complete it quickly and efficiently. That is, you can say that there is such and such a problem or task, and if a person has deep knowledge in that field of activity, then they will not need precise guidance on how to solve the problem. They will know what they need to do.

This depth of knowledge effectively reduces the time it takes to complete the task. When a manager must give sugar-coated knowledge to each specialist of the team about what to do, what tools to use, and where to go, this wastes a lot of time.

However, it makes sense to assign a task to each team member that will be under that person’s control. If the person can take charge of the task without any extra prompts, they are as valuable as gold.

For example, let’s say you tell a designer that you need to present a product in a favorable light. Then with the help of that person’s professional knowledge and advanced tools, such as a tool to remove background from image or choose the perfect color scheme or something of that nature, they will be able to quickly present you with the result you expect.

Perfect Your Communication Skills

Many project managers make the mistake of looking for specialists who can find a common language with the team. They want to find someone who will try their best to avoid conflicts. However, this may not always be the best way to go about things.

Let’s say your team consists of people who are not like-minded. Each member has different personal characteristics. In this case, you will have a team that will soberly look at ways to achieve the goals. No problem will slip past them. It might be difficult for a project manager to interact with such a team. However, this is why you need soft skills in the first place. It will be your job to find an approach that appeals to everyone.

We are not talking here about resolving personality clashes. We are talking about specialists who will use their critical thinking for the benefit of the project.

Reinforce Shared Values

Although everyone will receive an assignment for a certain amount of work, it is necessary to come together in the beginning of the project to agree on common rules and values. This will guide all team members throughout the life cycle of the project.

Before the team begins to do its job, it is necessary to emphasize what is acceptable and what is not. Everyone should strive to ensure that each member of the team is comfortable working together.

You can even set a rule that states that no specialist should create additional problems for other team members while they are doing their work. For example, they should not overburden others with unnecessary work. If possible, everyone should perform easy assignments on their own, especially if someone else on the team is busy with other important tasks.

It is also important that no one is allowed to behave like a loner. Instead, everyone should feel they are a part of the team. Each member needs to try to understand every other member.

Allow Team Members to Work at Their Own Pace

When you distribute tasks, you agree with each specialist on the deadline. However, sometimes it turns out that a specialist might face some unexpected difficulties that require additional time.

In these cases, some professionals may be wary of telling you they need more time. This is because there may be more efficient employees around who do everything quickly and on time. Therefore they are afraid that they could be fired or removed from the project.

This is why it is important at the very beginning to create transparent communication. No one should be afraid to report difficulties. When such problems occur, you as project manager will be responsible for building a more efficient work plan. Then you, in collaboration with the team, can find ways to compensate for the extra time spent.

Encourage Proactivity

You need people who will not only do what is assigned to them but will also evaluate the effectiveness of a particular method of implementation. That is, you can hire people who can strictly follow what is written and wait for their salary, or you can hire people who will be motivated not only for results but also for efficiency.

For example, let’s say the terms of reference indicate what to do, but the specialist knows a different, more efficient way to accomplish that task. Such people are valuable assets, especially when they are not afraid to speak up and be proactive.

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Assemble Your Dream Team

Each project manager must effectively manage the people who participate on the team. Moreover, they must also be able to find people who will do everything in their power to complete the project as quickly and efficiently as possible. In this way, you will end up with a dream team with whom you can work not only on this project but also on future ones.

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In 2022, it’s harder than ever to protect your business. Here we take a close look at just a few of the ways you can safeguard your interests.

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The coronavirus pandemic not only shattered the American economy but also revolutionized business practices. The massive shift to remote working, the increasing popularity of the corporate nomad, and the rapid evolution of today’s digital landscape are changing the way Americans work.

This, in turn, changes a lot for business owners specifically. Managing remote teams, expenses, and travel becomes more of a challenge. Moreover, business owners must still keep in mind the various types of insurance fees that they will need to be aware of when they purchase new insurance.

Let’s take a closer look at some of the ways business owners can protect their businesses in 2022.

#1. Invest in Fraud Protection to Protect Your Business

The freelance marketplace Upwork estimates that remote work will continue to increase. What’s more, it will increase at such a fast pace that by 2025, nearly one-fourth of the American workforce will be working remotely. This is an 87% increase from pre-pandemic levels.

A recent Mercer study released earlier this year also found that 70% of U.S. companies plan to adopt some sort of hybrid working model. This massive adjustment to dependency on digital devices means that cybercriminals now have more prey than ever to choose from. It is imperative that you protect your business from these nefarious types.

For a business owner specifically, investing in a fraud prevention solution that can tailor to their business’s unique needs and characteristics is vital for success in 2022. The last thing you need to worry about (on top of your already mounting list of liabilities) is a database breach or a hacker compromising one of your employee’s sensitive workplace information.

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#2. Support Your Remote Employees

Much goes into running a successful business beyond numbers, forecasts, and profit margins. A good manager also understands their employees’ natural needs as people. Checking in on your remote employees, even in the simplest of ways, can go a long way in improving productivity and keeping your business’s machine well-oiled.

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At the same time, you should take stock of your employees’ communication styles. Which ones prefer a simple email over a Skype call? Which would rather not be bothered at all? This absolutely matters when it comes to protecting your business with strong workforce morale.

A focused employee who checks their email often may not want to be interrupted by an obnoxious ringtone. Keep track of who needs more management versus others. Then take action accordingly.

#3. Educate Your Employees on Digital Best Practices

Many companies in the US and around the world have had to adopt logistics and operations procedures that do not rely on in-person proximity. In other words, you’re probably managing almost your entire workforce from your computer screen. You may end up hiring someone who isn’t as familiar with the digital landscape or who didn’t have to endure a rapid progression to such in order to survive.

As a result, chances are you won’t be around to physically monitor and check in on your teams with the art of in-person conversation. Taking the time to invest in resources that will help sharpen your employees’ digital best practices will help protect your business in 2022.

Document these training procedures and adjust them accordingly with the times. Soon, you’ll have templates that can streamline the training and education process. This will save your business time and money.

#4. Sharpen Your Budgeting Skills and Protect Your Business

Small business owners especially should use this digital shift to enhance their budgeting skills. They should also educate themselves on insurance fees and other costs associated with running a successful business.

For instance, did you know that insurance agents and brokers can charge their own broker or agency fee on top of the commission their employer already pays them for the sale? If you’re thinking about acquiring new insurance for your business this year or upgrading to a better policy, uncover all the potential costs that go into such practices. This will help you sharpen your budgeting skills and save money.

About the Author

Luke Williams writes and researches for the insurance comparison site TheTruthAboutInsurance.com. His passions include writing about personal finance, modern business, and other ways everyday business owners can save money.

Featured image by LookerStudio

Algorithmic trading has been around for a while. It is a trading strategy that uses mathematical rules to automatically trade stocks, futures, and other assets to generate returns on investment or reduce market risk.

Trading has always been a struggle for anyone who doesn’t have the necessary knowledge and skills. However, one of the benefits of algorithmic trading is that it helps traders maintain their edge in the market. Algorithmic trading is compatible with real-time financial data streams. It can be updated instantly. The algorithms are set to monitor price fluctuations and invest accordingly. Therefore, traders don’t have to monitor the markets continuously.

Here are ten reasons why algorithmic trading is profitable.

Algorithmic Trading Is Easy to Set Up

Setting up an algorithmic trading system is much easier than manually monitoring the markets. When you’re first starting as a trader, it can be difficult to juggle all the different aspects of the market. However, you do not need to take care of each detail yourself when you’re using algorithmic trading. The software does it for you. You only need to input your parameters and then let it run its course. That way, you can focus on developing strategies instead of managing every little detail.

Moreover, there are special algo trading communities where you can start the journey by finding a ready-made robot. Or you can find a contractor for implementing your unique strategy. One of the biggest trading communities is MQL5.Community. Here, people can discuss and sell algo trading software. It also features a variety of other useful services.

It Allows for Automated Trading

The automated nature of algorithmic trading is one of its biggest benefits. Traders don’t have to sit in front of their computers all day and monitor the markets themselves. This means traders can spend time on other tasks like managing their portfolios and researching.

It also minimizes risk. This is because traders don’t need to constantly watch the markets. Instead, they can leave it up to the algorithms. It takes away much of the responsibility and stress that come with trading, which is why many people avoid the market. They’re simply not confident in their skills.

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Algorithmic Trading Gives You Trading on the Go

One of the major benefits of algorithmic trading is that traders can trade from anywhere. Traders who travel for work, for example, can set up automated investing processes to make trades in their absence. This means they can virtually trade from their hotel room or remote office. This also makes it easier for traders to maintain a global presence because they can access the markets from anywhere in the world.

Another aspect of algorithmic trading is cloud testing. It is important to note that a proper cloud network enables fast optimization of trading robots. This is because such a network allows access to the processing power of thousands of computers all over the world.

For instance, the MQL5 Cloud Network is a service that enables remote agents of MetaTrader 5 to collaborate and distribute tasks among themselves. With additional processing power, it can run thousands of tests in only a few hours.

There Is Less Risk of Manual Human Error

One of the most important benefits of algorithmic trading is that it helps reduce the risk of manual human error. Human actions are imprecise. This imprecision can lead to errors in trading, such as misreading charts or entering orders at the wrong price.

There’s a special term in trading: Fat Finger Error. It’s a unique type of trading mistake that can have a significant effect on the market. For instance, if a trader mistakenly enters 1,000,000 shares of Apple Inc.—instead of 1,000—at the market price and proceeds with the sale, the order could affect the entire market.

Algorithmic trading, on the other hand, follows a predetermined set of instructions in order to trade efficiently. Programs are designed to avoid both systematic and random errors when executing trades.

Additionally, algorithmic trading also helps traders avoid emotional decisions. For example, if the market is going up and you have been watching it go up for hours on end, you might be inclined to invest. But entering at the top of the market can result in losses. There is no emotion involved with algorithmic trading. Your trades will occur based on predetermined conditions. This helps mitigate risks and maximize profits.

You’ll Get Software Updates in Real Time

One of the benefits of algorithmic trading is that it can update in real time. By using algorithms, traders don’t have to monitor trends and financial data streams constantly.

The software does this for them. It also updates automatically according to price fluctuations. This allows traders to do other things like go on vacation without worrying about their assets. Traders can also set parameters such as stop-loss and risk values, which the software will follow accordingly. A trader’s return on investment (ROI) will be higher with algorithmic trading because they won’t need to monitor the markets all the time.

New Algorithms Are Continually Being Developed

One of the most important things about algorithmic trading is that its developers are constantly developing new algorithms. This means that traders using this method will always have the newest algorithm to use.

Moreover, the developers behind these algorithms are top-notch mathematicians and programmers. They continually strive to develop the best algorithm possible. These mathematicians and programmers are motivated to work hard because they want their algorithms to be the next big thing in the industry.

There are more than 6,000 Expert Advisors (algo robots) and Indicators for MetaTrader 5 available for purchase on MQL5.com Market. You can download and test a program that fits your conditions. The only requirement is that the program works seamlessly and has the necessary parameters in advance.

Algorithmic Trading Lets You Trade More Than One Market at Once

Algorithmic trading allows you to trade in multiple markets at the same time. Traders are often limited to one market when they use manual trading methods.

But with algorithmic trading, it is possible for traders to trade in different currencies or commodities. This allows traders to maximize their earnings by investing in various markets that offer the best profit opportunities. They will always have a market open for trading. Therefore, they can take advantage of any opportunity that arises.

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The Software for Algorithmic Trading Is Inexpensive

Algorithmic trading is accessible to everyone, regardless of their budget. There are no commissions on trades, so the software is the only cost. What’s more, most are free or have a low monthly fee, which you can pay with an annual contract.

It Gives You a Variety of Trading Strategies

Algorithmic trading offers a variety of trading strategies to choose from. Unlike traditional methods, algorithmic trading allows traders to use many different systems that are compatible with their investments.

It Simplifies Complicated Investing Decisions

One of the most attractive features of algorithmic trading is that it simplifies complicated investing decisions. This is because it uses a set of instructions to invest without the trader needing to monitor the markets continuously. This is useful for people who lack the knowledge and skillset to trade efficiently or who don’t have time to monitor their investments closely. Algorithmic trading reduces the number of decisions traders need to make because algorithms automatically take over and execute trades.

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Featured image by Piyawat Nandeenopparit

Purchasing. It’s a tough job sometimes, but somebody has to do it. There are plenty of obstacles to running a smooth procurement department. Many of them, sadly, happen at the purchase order stage.

Purchase orders (POs) are a useful tool for procurement and purchasing. The entire point of using POs is to aid in supply chain transparency and foster clear communication between you and your vendors.

POs serve the function of being a trackable source that provides legal protection for both buyers and suppliers.

A PO is not an invoice. Instead, it’s a way to ensure buyers are getting what they order. Every PO needs a date, description, order number, prices that have been agreed upon, and, of course, the company name.

Managing them is a whole other ballgame. Here are five tips to improve your purchase management processes.

POs Provide Better Visibility

Although purchase orders aren’t actually responsible for acquiring goods and services—the requisition form or purchase requisition serves that role—they are an exceptional tool for managing visibility within your procurement cycle.

A purchase order has pertinent company information and a detailed description of the goods and expectations involved in the requisition. Being able to track your purchase order means that you can retain visibility throughout the entire process. This ensures compliance, smooth operations, and, of course, proper receipt of the goods. Tracking purchase orders in real time provides invaluable insight into your own supply chain and ultimately helps improve everything from vendor relations to risk assessment.

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They Reinforce Contract Standards

The reason you made contracts in the first place was to ensure you receive the maximum benefit from your suppliers and vendors. If suppliers and vendors aren’t holding up their end of the bargain, then there might be time to seek arbitration or to terminate the contract. In your daily life, you wouldn’t want your homeowners insurance policy to only cover some of its provisions. It needs to fulfill its end of the bargain. The same can be said for your suppliers!

Part of the role of a purchase order is to ensure a level of accountability and realization of negotiated contract benefits from the supplier.

A company uses a purchase order to set up and reinforce the actual requisition. Once the requisition gets approved, the PO gets set up to start the process. Tracking the purchase order and noting any issues along the way can help you reinforce contract standards. By leveraging the information available to you in the purchase order and making an effort to follow up with what it describes, both you and the supplier can have a seamless experience.

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Automate Your Purchase Order Process

Automation shouldn’t be a bad word in business. It can actually be a good thing that helps make your operation run smoothly and consistently. Getting away from managing POs with spreadsheets might prove difficult for some companies, but consider using purchase order management software.

It offers so much more scalability and adaptability (not to mention efficiency) when it comes to managing requisitions and purchase orders. In traditional, manual operations the PO process is quite extensive.

It starts with identifying a need, writing up a requisition, getting the requisition approved, writing up the purchase order, sending it to the supplier, receiving the goods or services, paying out the invoice, and tracking everything. That’s pretty convoluted and exhausting at times.

Automation smooths this out to make it as seamless as possible. When it’s integrated into your system, everything from requisition to invoicing can be efficient, saving time and money.

Create a Preferred Suppliers List

Managing POs is much simpler when you have a solid preferred suppliers list. According to Business.com, building a list of suppliers can be as simple as following three quick steps: gathering information, evaluating potential suppliers, and reviewing the list.

However, it’s more of an ongoing process than one might initially expect, especially in the third stage (tracking and review).

Perhaps the most critical part of building a supplier list is gathering information in the first place. It behooves any organization to assess, look into the reputation, and thoroughly vet a vendor prior to initiating a contract. If any part of working with that vendor doesn’t mesh well with your company’s procedures, it may be better to move on to the next one and exclude them from your stable of suppliers.

Building a list of superb, reputable suppliers helps forge meaningful relationships and drive smoother operations for the entire organization. 

Keep Track of Everything Digitally

As we mentioned previously, keeping track of everything is critical to ensuring compliance, realizing negotiated benefits, receiving the product, and making payments. Paperwork can take up a lot of space in addition to being costly and time-consuming. By going the digital route, employees can focus on other aspects of running the business without worrying about manual reporting.

Automatic reporting is useful not just for streamlining things but also because it can give full access to an array of different useful reports at the touch of a button. Being able to easily access reports gives better insight into budgets, spend visibility, and potential risks across the organization.

Ultimately, going digital with purchase order processing is a boon for any organization. If you’re still using manual procedures, consider ditching them in favor of something more compact and digital.

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This is a question that is always floating around, and it can be difficult to determine which software is the best. In this article, we will compare Asana and Trello and help you decide which one is right for you.

What is Asana and Trello?

Both of these tools are software that is cloud-based and built for project management. They are perfect if you need to get organized or need a permanent solution for your team. In some ways, their features differ, but the bottom line is that both can be productive depending on your primary use.

Why Project Management Software is Important

Project management software is important because it can help you keep track of your project progress and deadlines. It can also help you to communicate with your team more effectively, and keep everyone on the same page. Additionally, project management software can help to optimize your workflow and make your project more efficient.

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How do you decide which software to choose?

Before we dive into the comparison of Trello and Asana, you should ask yourself these questions:

– What are my needs? How many projects are going on at one time

– What type of team do I have? How many members?

– How much am I willing to spend?

-Do I need reporting? The ability to integrate other apps?

Comparing Asana and Trello

Pricing

The first thing we will look at is price because that factor alone can help you make a quick decision.

Both tools offer a free plan, the limits are on the features and team members. But if you don’t need tons of options, this may work for you.

Know that each company’s monthly (or annual) charges are per team member and is not a flat-rate pricing model.

Asana offers a 3 tiered pricing plan is also the more expensive one of the two. You can see their current pricing table in the image below.

If you have multiple projects going at one time, Trello’s free plan is probably not the best fit. You can have a max of 10 boards before you have to pay for the next tier.

See their full pricing table below. You will also notice that of March 2022 they are adding additional features that are currently in beta.

Features

Trello is very visual and board-based, which can be great if you are looking for a simple solution. Asana is task-based and can be more complicated, but it offers more features.

That being said, we previously mentioned that they have more features in beta right now. This is going to make Trello more like other project management tools in the future.

The premium version of Asana offers different views, such as Gannt and timeline. This is really better for teams versus a solopreneur.

You can also apply dependencies. For example, Task 3 cannot be completed until Task 1 is finished.

Asana offers custom fields that you can totally personalize to fit your business and team.

Team Size

write a paragraph about why asana is better for larger teams Asana is better for larger teams.

If you are a solopreneur, Trello may be better because it’s simpler and easier to use. But if you have a team of 8 or more people, Asana will make your life much easier with its task-based system and custom fields that allow for unlimited customization.

Integration

Both Asana and Trello offer integration with other apps.

In general, Asana integrates better with other software because of its robust API. However, Trello is not far behind and continues to make strides in this area.

Reporting

Asana offers reporting features in its premium plan. This can be really helpful if you need to track hours worked on a project or monitor progress over time.

Trello, unfortunately, does not have any reporting features. If this is important to you, Asana would be the better option.

Ease of Use

This is where Trello really shines. It is very easy to use, especially if you are familiar with kanban boards. Asana can be more complicated for people who are not used to task-based systems.

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Other Common Project Management Tools

If you are interested in researching other tools beyond Asana and Trello, here are some of the most common.

• Basecamp
• Wrike
• Monday
• AirTable
• Freedcamp
• Clickup

Does Trello work with slack?

Yes, both of these tools can integrate with Slack. You can also communicate through the software itself by chatting, tagging your team members, and leaving comments as necessary.

What is better Slack or Trello?

Slack and Trello are very different. Slack is for communication while Trello is task based and a project management tool. Slack is not a replacement for any project management software.

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The Bottom Line

Now that you know the differences between the two, you can decide which one is right for you. If you are looking for a visual, simple solution, Trello would be the best choice. If you need more features and are working with a larger team, Asana would be the better choice.

Having a dedicated workspace allows you to focus on your work and be more productive. Whether you’re working in the office or from your home, it’s important to have a space where you can be creative and motivated to get the work done. Further, when setting up your workspace, it’s ideal to spruce it up with some wall art to boost your motivation and keep you inspired.

There’s a wide array of wall art ideas for you to choose from. Picking the one that will best resonate with you and suit your personality is highly recommended. But if you want to explore more options to set the tone for that productive space you want to have, there are also other ideas for you to try out.

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Here are six wall art ideas for an inspired workspace to help you out.

1. Canvas Art and Framed Prints in Your Workspace

If you want to go for classic wall art to incorporate into your wall, you can never go wrong with canvas art or framed prints.

Canvases are one of the most popular ideas for wall art. You can have a picture made by your favorite artist printed, or you can opt for framed prints to add elegance to your workspace. When choosing the prints to display on your wall, your imagination is the only limit there is.

Regardless of the size and design, what matters is you pick the one that speaks to you and will keep you motivated to work.

2. Posters as Wall Art

Using posters as wall art in your workspace will never go out of style. It’s an exciting way of designing your wall. This is because you can play with and execute all the pictures and ideas you have in your mind and display your favorite posters. Be sure to choose posters that will bring you a sense of happiness and inspiration. Depending on the color palette that you want, you can create a perfect gallery of posters on your wall.

There are many creative and stylish ways to try when displaying posters aside from hanging them. You can attach them using washi tape. This can be creative and efficient as these tapes are colorful and won’t damage your walls.

You can also try to mount wall posters using a clip. Alternatively, simply frame them and lean them against the wall on top of your desk. If you’re looking for great posters to display on your wall, check out Fine Art America and other similar stores to shop for pieces of art you’ll love.

3. Graphic Wall Stickers

You don’t have to break the bank to design your wall.

If you’re looking for easy-to-install and affordable wall art, you may consider using wall decals. They’re stickers that you can stick on pretty much any smooth surface. They are usually used for decorating or revamping walls without drilling holes.

Wall stickers are one of the most cost-efficient wall arts that you can use. Moreover, they can allow you to be creative in designing your stickers. This is because they come in various shapes, sizes, and types. Plus, you can have them customized using images, texts, or quotes—anything you want! In short, these decorative wall stickers can significantly boost productivity and improve the look and ambiance of your workspace.

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4. Family Photos for Your Workspace

Whether you’re a fan of photography or not, displaying your family photos in your workspace is never a bad idea. You can turn your wall into a gallery by printing some of the best and most memorable family photos you have. What’s more, this will add a personal touch to your space and keep you inspired while working.

You may choose to print several portraits in different sizes and put them together or create a photo collage. If you do it this way, you’ll only have to print them a single time. In other words, take advantage of being creative in displaying your family photos and explore stylish ways to do it.

5. Floating Shelves as Wall Art in Your Workspace

If you’re looking for a minimalist idea for your wall art, you can try installing a floating shelf. Choose any color of shelf that will blend with the color of your wall or desk. Instead, you can just go for a white shelf to keep your workspace simple. Then display anything on it that can help you with your work. For example, you can use stationary stands and books, or something that will keep you inspired to work, like picture frames.

One of the benefits of floating shelves is that they’re pretty simple, easy to set up, and will add more space to your workspace. This is definitely something that a minimalist would love to have as wall art. You don’t even have to hire a professional to make and install your shelves. This is because you can easily make your do-it-yourself or DIY floating shelves using the right materials and tools.

6. Frames Featuring Inspirational Quotes

Typography is the best way to go if you don’t want to display symbols or images on your wall. Sprucing up your wall can be as easy as hanging inspirational quotes that come in frames. Alternatively, if you don’t want to drill holes, you can opt for adhesive letters instead.

You can be as creative as you want in choosing the best quotes to inspire you to work. For example, whenever you don’t feel like getting up from your bed to do your work, these inspirational quotes can serve as reminders of the goals you want to reach. This is because sometimes, all you’ll need is a little push to get the work done. But if you don’t have any idea what quotes to use, you can try the following:

• Set Goals. Reach. Repeat.
• Opportunities don’t happen; you create them.
• Start where you are. Use what you have. Do what you can.
• Don’t count the days. Instead, make the days count.
• Success comes from having dreams that are bigger than your fears.

Wall Art in Your Workspace for Inspiration and Creativity

Having wall art in your workspace can give you a sense of delight and creativity as you work. It can also be very helpful, especially when you’re not motivated to work or feel uninspired to finish your tasks. On the other hand, taking a break from work from time to time can help increase your productivity as you get to recharge. And with the help of your wall art, you can get a quick break from your screen and enjoy your time looking at your wall.

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Gold has always been synonymous with wealth and prosperity. It’s said that it has played an essential part in many investment strategies of successful individuals today. Further, gold has become a treasured asset for people interested in precious metal IRAs (Individual Retirement Accounts) nowadays. Specifically, you can use this guide to explore whether a gold IRA would be right for you.

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Experts believe that investing your money in a gold-backed individual retirement account (IRA) is one of the smartest financial moves you can make. It may seem a complex and overwhelming idea at first. But it doesn’t have to be with the proper knowledge.

To help you better understand how investing in gold can benefit your retirement savings, this guide will run through the basics of gold IRA. We discuss how it works, IRA investment options you should know, and tips and advice on investing your IRA in gold.

Gold IRA Basics: How It Works

A gold IRA is a personal investment portfolio backed by physical gold. Different Internal Revenue Service (IRS)-approved depository banks keep these assets. These banks will hold your account as an IRA on your behalf or for non-related third parties. When you invest in gold via an IRA, you’re actually investing in the gold itself rather than any form of paper asset.

One significant benefit of using gold in your IRA is that it doesn’t go through the ups and downs of the stock market. This because gold is an inflation-resistant asset. Therefore, it protects against market fluctuations. It’s an excellent advantage for people trying to create a stable investment portfolio with the best gold IRA companies out there.

Gold IRA investments work by having you purchase physical gold, silver, or other precious metals that are stored in a secure depository. The gold is held in reserve, while the depository pays you monthly payments. It eliminates the need for Federal Deposit Insurance Corporation (FDIC) insurance because the metals are considered assets of the plan, not liabilities. If you want to retire, you can either have them delivered to your house or sell them back to the depository for cash.

Gold IRA Investment Options You Should Know

When most people think about gold IRA investments, they only consider the direct ownership of physical gold. Nevertheless, there are many different options you can explore, including:

1. Gold Bullion

Gold bullion includes physical bars, coins, or ingots that are 99.5% to 99.9% pure gold. This is one of the most popular ways to invest in gold. It works well for many people because it can be easily stored, traded, and sold.

This form of investment tends to be popular with investors who would rather have something they can hold in their hands and keep as a memento. Nonetheless, this type of IRA requires storage space to keep your collection in a safe place. It will also incur an additional expense. This is something you need to consider when calculating how much your IRA is costing you.

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The bullion market is an OTC (over-the-counter) market, which is open 24 hours a day. Transactions in this market take place electronically over the phone or on the internet.

Many investors view gold bullion as a safe haven investment during times of rapid inflation and economic instability. When people realize that their money is losing value, they often retreat into hard assets like gold. This is because they believe it is the safest resort to store their wealth.

2. Gold Exchange-Traded Funds (ETF)

Another option that investors consider is the purchase of a gold exchange-traded fund (ETF). This means buying shares of a fund that owns physical gold. Gold ETFs are traded on the market just like stocks. Some gold ETFs charge annual expenses of 0.4% to 0.75% of the fund’s assets.

You can purchase Gold ETFs just like shares in a mutual fund scheme. This means you have to pay either an annual management fee or an ongoing fee based on the amount you have invested. Many gold ETFs closely track gold prices. Others buy futures contracts to insure against price fluctuations.

Gold ETFs are a more flexible way of investing in gold. This is because you get all of the benefits of owning physical bullion with no work involved. Buying and selling gold ETFs is similar to buying and selling stocks online.

3. Mining Companies’ Futures

Mining companies play a much larger role in the market than they used to. The industry has evolved into a multi-billion-dollar business that’s generating tens of billions in annual revenue.

Many investors trade mining companies on the stock market just like other companies. However, they have the bonus of investing in gold mining projects. If you buy shares, you can own part of the physical gold reserves held in its mines. If you’re confident that the price of gold will go up, then this form of investment is for you.

Mining companies also offer investors the chance to participate in the production and distribution side of gold mining. This can provide a welcome boost to your income. When they do well, so do their shareholders. Mining stocks often can generate high returns on equity and cash flow.

General Gold IRA Investment Tips And Advice

When you decide on a gold IRA investment, it’s necessary to do your research. Each option has its advantages and disadvantages. Therefore, it will be up to you to find which best suits your specific preference.

Make Sure You Get Good Advice

Good advice is necessary for any investment. However, this is especially so when you consider gold because of its popularity in recent years. If you don’t do your research, then you could end up buying a product that’s not suitable for your needs. You might even lose money.

Know What You’re Getting Into

Gold IRA is very popular right now. But it’s crucial to fully understand all of the fees involved with operating the account and how the transactions will be carried out. For example, some companies charge a fee based on the amount you invest. Others charge an annual management fee or ongoing fees based on the investments you make and how they perform.

Consider All of Your Investment Options

There are several ways to invest in gold. Each option has a unique set of pros and cons that you should understand before making your investment decisions.

Understand the Fees

Plus, it’s crucial that you understand all of the expenses that come with operating a gold IRA. The inflation of gold prices is great for investors. However, it can result in higher costs for maintaining an IRA account. Ensure that you know the fees and how they’ll be charged to your account before choosing a specific type of IRA.

Know Your Tax Situation

Knowing your tax situation is nearly universal for all forms of investment. However, it’s imperative if you consider investing in gold with an IRA because of the tax implications. Consult an advisor if you aren’t sure about this part or if some aspect of your specific situation isn’t clear.

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Conclusion

With the uncertain economy and unstable stock market, many investors are looking for new ways to diversify their portfolios and protect their assets. For this reason, gold has become a popular investment choice as it provides security and stability even in times of financial turmoil. Still, before you dive into that final decision, you should think about all of your options and how each one can benefit you individually.

Featured image by AlphaTradeZone from Pexels

Financial markets are showing fast recovery after the pandemic. Some online traders are earning exciting profits from investing in online trading. In fact, this could be the best time to invest in forex and CFD trading.

As a well-versed online trader, you cannot ignore the risk associated with trading. But you can learn to manage the risk. You can even earn substantial profits if you select a brokerage company that provides all the facilities that a trader needs to become successful. Moreover, selecting a reputable financial organization is crucial for earning lots of money. Additionally, such a company will also protect your funds and your sensitive information.

Therefore, if you want to enjoy the most comprehensive trading experience, we propose you start trading with FinoTrend. This is a reputable and trustworthy financial provider. They offer leading encryption methods and cutting-edge client gateways. What’s more, they are well-equipped to secure your funds and your sensitive information.

What Do Online Traders Expect from a Financial Provider?

When it comes to selecting the right financial provider for your online trading, most traders expect:

• A user-friendly web-based platform.
• An large number of tradable instruments.
• Extremely fast payment systems.
• Multiple essential features and tools.
• Excellent and effective client support.

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All these are a trader’s basic requirements for trading organization. You will receive all these benefits from FinoTrend.

Additionally, the company will effectively guide you to understand which investment is right for earning profits and when you should make a trade. Therefore, with this organization, you can become knowledgeable about the basics of the financial market and also build a successful career in trading.

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The Major Benefits FinoTrend Offers Online Traders

A Client-Focused Approach

As FinoTrend is extremely focused to ensure its clients’ success, this financial agency has built a financially sound environment. In this way, clients and the organization can have mutual trust and respect for each other.

Besides giving you an outstanding trading experience, the company’s customer support team always strives to respond to your requests and inquiries in a timely fashion. Moreover, you can access a variety of global trading markets and the company’s trading procedures are simple and transparent. And regardless of your country of origin, the organization’s customer support team offers support in your native language.

Outstanding Technological Support

FinoTrend has built its WebTrader trading platform with the help of innovative technology. This platform gives you access to multiple global financial markets while also offering fast execution of orders and precision trading.

By availing yourself of these various features and tools, you can monitor your trading and assess the market’s movements.

Easy Account Management

As an online trader, you can easily open and monitor a trading account with FinoTrend.

Opening a live account with this financial agency is beneficial, as price alerts and real-time signals will be available to you. You can open and monitor your account using any internet-connected device. For instance, you can use a personal computer, a tablet, or a smartphone. You can also trade on more than 300 tradable instruments.

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A Final Word

Apart from these benefits, you can open an Islamic account, join the “Refer a Friend” program, use a demo account, and enjoy many more of FinoTrend’s features. So if all these benefits excite you as an online trader, open a trading account and start trading with FinoTrend right now.