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Are you an airline, hotel, or tourism-related company manager or entrepreneur? If “yes,” one of the areas that you need to have a lot of focus on is sustainability.

Sure, you might have already started on your report, but perhaps it is time to rethink the process. ESG sustainability reporting is the practice of disclosing a company’s information about its sustainability in the areas of environment, social, and governance.

Most governments and regulatory authorities have already adopted this process, and it is expected to become the norm. For example, the EU’s taxonomy for sustainable activities is extensive. It is aimed at ensuring that companies engrain sustainability into their operations.

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So, what can businesses in the hospitality industry do to operate in line with ESG reporting requirements? Here is everything you need to know:

Understand the Process of ESG Sustainability Reporting

Internalize the Principles of ESG Sustainability Reporting

Understand the Challenges of ESG Reporting

Make the Process About the Target Stakeholders

Once you have gathered the data from your company’s selected sustainability activities, the final stage is generating a report. It is important that your stakeholders be able to read about and understand the company’s efforts. Therefore, you should make the process about the stakeholders from the start. Additionally, be clear about whom you are writing your report to. For example, are you targeting investors or consumers with your reports?

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You should also consider bringing the stakeholders onboard during the materiality assessment. Begin by asking them about the things they want the business to focus on. Because they will feel included in the process, the final version of the report could compel them to want to be more closely associated with the company. Alternatively, if you are targeting customers, they could become the ambassadors you need to drive more sales and build a stronger brand image.

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Regardless of your approach, you should execute your efforts in line with ESG sustainability reporting standards for your enterprise and your industry. Remember also that activities you undertake in one reporting session should form the basis for the next reporting period. To get assistance with the best ESG sustainability reporting software and technical guidance, visit Diginex.com.

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Dorrmat is a market leader when it comes to providing high-quality real estate leads to its registered agents. In this post we cover the benefits offered by the Dorrmat platform.

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The need to generate real estate leads is the prime focus of all real estate agents. Agents usually adopt a wide range of strategies to achieve results and find new leads. These strategies can include, for example, utilizing social media as well as revamping time-tested real estate marketing strategies.

Additionally, one of the most popular lead generation strategies most agents use is to obtain leads from online platforms. There are multiple platforms out there that provide leads of buyers and sellers for a nominal fee. Dorrmat is one of the market leaders when it comes to providing high-quality real estate leads to its registered agents. In this post we cover both the advantages of such a platform and specifically the benefits offered by the Dorrmat platform.

What Are the Benefits of Using an Online Real Estate Lead Generation Platform?

How Does a Lead Generation Company Work?

A real estate agent lead generation company like Dorrmat works on the simple premise of bringing together real estate agents with home sellers and buyers. The company thereby acts as an intermediary, providing home sellers with the information about a real estate professional in their area.

For the agent, a platform like Dorrmat utilizes technology with local listings according to the availability in your area.

What Are the Key Benefits of Working with Real Estate Platforms?

A Platform Like Dorrmat Will Save You Time

For a real estate agent, it is essential that your efforts in lead generation enable you to acquire leads quickly. A platform like Dorrmat will ensure that you gain leads in a short time. This will therefore provide you with more opportunities to focus on acquiring the new listings.

You Will Expand Your Real Estate Business

There are multiple ways to generate leads. However, a lead generation company will help you grow your real estate business because of the sheer number of seller leads it will provide. Basically, your business growth depends on the number of homes you are selling. Therefore, the number of leads you gather directly affects how quickly you can expand your real estate business.

You Can Find Potential Clients Even in Slow Periods

There are fluctuations in real estate lead generation. So your normal methods may not be working due to local real estate market conditions. Platforms like Dorrmat can be a major help in such scenarios. This is because an agent can keep their real estate lead generation numbers up by choosing to register for such a service.

Why Real Estate Agents Choose Dorrmat For Home Seller Leads

Summary

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Well-managed accounts payable can keep you from having to borrow money during leaner times, even if you find it necessary to scale up production. Read on to find out more.

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As the famous adage says, you must spend money to make money. Likewise, companies must have enough cash to conduct business and stay afloat. For this reason, purchasing of supplies is a constant in the normal course of business. This translates to inputs that generate revenues and sustain operations.

But there are times when you have to scale up production to keep up with market demand. As such, the resources you have available may not always suffice your business needs. This is where accounts payable can save the day, allowing you to avoid the hassle of borrowing money to pay for the supplies your business requires.

With that in mind, we will discuss how accounts payable function for your business. We will also take a look at some of the industries that most rely on accounts payable.

Accounts Payable in a Nutshell

Accounts payable is a business term that refers to liability to one or more creditors. An account payable is recorded upon receiving goods or services on credit terms. In short, it is an amount your business owes to the suppliers of goods and services your company needs for production.

These are part of current liabilities or those paid within the year. Often, they do not bear interest since these are not debt by nature. Nonetheless, creditors may still add interest, depending on the credit agreement.

While they are a liability, people tend to treat accounts payable as an expense. In reality, they are a credit entry in the trial balance that gets debited once paid. For example, let’s suppose you pay for your purchased goods of S$500 on a credit term. This is how you will record it: You will debit Accounts Payable S$500 and credit Cash S$500.

Meanwhile, they can help you maintain your working capital for a short period. You may delay paying them to maintain the current amount of your cash on hand. They can also help with liquidity for a short period because you will maintain a larger cash balance. But once you record accounts payable, that status will change. This is because your liquidity ratio depends on your current assets and current liabilities.

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How These Accounts Work Across Different Industries

Your cash on hand is not always enough to cover your payment for materials and supplies. As such, it is no wonder that accounts payable are a fundamental part of a company’s core operations. They ensure that you have enough cash and materials for your day-to-day activities. This is even more important when you have to increase your production.

You can incur accounts payable through agreements with your suppliers. But a more efficient way today is through your corporate or business credit card. Let’s say you run out of materials for your product. Your first impulse is to run to the nearest store or supplier to buy what you need and continue the process.

With a credit agreement or corporate card, you can get the materials as soon as you need them. With that, accounts payable works best with companies in the commercial sector. This is a collective term for companies that involve inventories as part of their operations. These can be food companies, pharmaceuticals, sporting goods, and the traditional supply chain.

In short, companies with manufacturing or distribution in their process need accounts payable. Of course, banks and investment companies may also have them, along with inventories as well. Yet, if you compare the amounts, the differences among these industries is noticeable.

We made a tabular example of some public companies in Singapore, classified according to industry. Note that all values are in SGD.

Table from Yahoo Finance

We can infer that the companies that use inventories have more accounts payable. This is logical since these companies need materials to produce their finished products. Obviously, accounts payable are common in industries that turn raw materials into finished products. Most of their orders are in bulk and according to credit agreements with suppliers.

To understand this better, check what a company produces. For example, the two insurance companies have no inventory and no accounts payable. In essence, insurance companies create policies from premiums. They earn from their policyholders and investments. They do not need these credit agreements since premiums do not need raw materials.

Meanwhile, banks earn on loans and investments. They may have accounts payable, but the value is lower compared to most other industries. The trend is different in other industries such as food and chemicals. In general, companies in the commercial sector rely on accounts payable.

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A Deeper Look at Inventories and Credit Agreements with Suppliers

Assessing inventories and the accounts used to pay for them helps a business maintain its financial position. Inventory is part of current assets, even if it is an operating cost in nature. This is because inventories are sources of revenue. As mentioned, these are composed of supplies you sell and replenish. Meanwhile, accounts payable for purchasing inventories is a liability.

Together they can show a company’s financial standing daily. They can show how efficient your business is in managing and selling products. You can track your inventory turnover or how fast inventories generate revenues. Inventories and accounts payable may appear too high compared to revenues at times. When this occurs you may have to take steps to improve efficiency and stimulate revenue growth.

Also, you can check the proportion of your supplies and credit. This is done by comparing the ending value of accounts payable to inventories. Given this, you can ensure that you are earning enough to pay your suppliers on time. You will know which suppliers may extend credit terms based on your payment standing.

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These days, temporary buildings are becoming more common. People are looking to construct more sustainable buildings at a cheaper cost. Besides, temporary structures have plenty of benefits over brick-and-mortar buildings.

However, if you’re planning to set up a temporary structure, you need to ensure that you get your planning permission approved first. Many people skip over the necessary planning and construction protocols. However, this can have some dire consequences.

In this guide, we talk about the benefits of temporary structures. We also share some handy tips on how to go about applying for planning permission.

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Benefits of Temporary Buildings

Temporary structures cost less than brick buildings. This is largely because most of the materials used for setting up temporary buildings are prefabricated. As such, the time required to construct the building from the ground up is shorter. In addition, if you’re setting up a temporary building using industrial tents, you don’t need to prep the surface.

Another benefit of temporary buildings is that they are portable. Steel beams support the structure. These are bolted to each other to form the skeleton of the building. As such, when you need to move the building to a new location, you only have to dismantle it and carry the materials to the new site.

Temporary structures from Smart-Space also have plenty of floor space and headroom. The buildings do not have support beams running through the center of the structure. The owner can therefore more easily use the structure as a warehouse or garage. They can also expand the floor space if the need arises.

Most temporary buildings are fitted with a clear roof manufactured from high-quality PVC material. The roof is capable of withstanding rough weather conditions. It also allows plenty of natural light into the building, meaning that the owners save a lot on energy expenses.

The doors and windows also fit tightly. This prevents heat loss during the cold seasons. Additionally, you can have insulation material added to the walls. This can be very important, especially if the building will be used for residential purposes.

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Applying for Planning Permission for a Temporary Building

Temporary structures can be customized as per the user’s needs. The structures can be used as indoor arenas, classrooms, warehouses, or even greenhouses. Semi-permanent structures are the ideal option, especially if you’re planning to set up a building fairly quickly.

If you’re planning to use the building for more than a month, however, you will need to apply for planning permission. If the building has a floor space of more than 100 square meters, you will also need planning permission. This is the case even if you will be using it for less than a month.

It is always advisable to obtain your planning permission a couple of weeks before you purchase the materials for constructing your temporary structure. In most cases, the planning permission can take an average of ten weeks before it is approved. This can be quite a hindrance, especially if you require the structure on short notice.

Temporary structures have plenty of advantages. Nowadays, most businesses are using temporary structures as warehouses and office spaces. Property developers are also developing temporary buildings for use as residential houses.

You need to ensure that you get your planning permission approved before setting up the structure. People often skip over this process. However, as mentioned earlier, this can have some dire consequences.

Procedure for Making Your Application

As mentioned earlier, you need to make your application before buying the temporary building. A planning permission can in some cases take up to three months before approval. However, this shouldn’t discourage you from making the application.

The long approval times are always a hindrance, especially if the owner requires the structure urgently. However, according to construction consultants, you can apply for a planning permission while the construction of the structure is ongoing. Nonetheless, you will need to show proof of why you require the temporary building urgently.

Most local authorities will approve planning permissions in a shorter time than normal if you can prove why you need the building urgently. As such, you can always consult on some of the causes that can be considered as emergency requests.

Construction consultants can help you apply for planning permissions. They will ensure that you have all of the documents ready and in order. They will also make follow ups on your behalf to make sure that the approval process is sped up. If your planning permission is denied, the construction consultants will make a follow-up and help you in the reapplication process.

Planning permission applications are vital before you begin any construction project. Failing to get the planning permission approved can result in fines. The local authority can also force you to demolish your temporary building until you have obtained approval for the planning permission.

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If you want to retain more customers, provide the best experience by using online appointment scheduling.

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Long lines in your store often indicate that your brand is in demand. When this is the case, your business can earn higher profits in a shorter period. However, from a customer’s perspective, long queues can be frustrating. This can become the reason why they might cancel their appointments, purchase products and services from your competitors, and speak negatively about your business.

If you want to retain more customers, provide the best experience by using online appointment scheduling. This tool is a godsend for businesses as it expedites and improves the scheduling process, allowing you to accommodate more people and use fewer resources.

Here are seven business benefits of using online appointment scheduling:

1. Online Appointment Scheduling Is a Straightforward Process

The traditional way of making appointments is time-consuming and requires a lot of resources. Normally, a customer will call your business and inquire if there are any vacant slots. If you have an appointment time available that’s convenient for them, they will book an appointment. This process requires the company to hire additional staff, resulting in more expenses.

Making appointments traditionally also increases the risk of miscommunication and errors in the process. Listing customers’ information by hand is daunting. Employees need to exert a lot of effort to contact them again if they need to follow up or discuss additional details.

But online appointment scheduling is a straightforward process. With this tool, customers can book an appointment by themselves online. They can choose their preferred service, branch, and staff. Nearing the appointment date, customers will receive a reminder through email or text.

2. It Will Save Your Staff Time and Increase Their Productivity

Hiring the best talents in the industry won’t do any good for your business if they must take calls and list appointments. These tasks are mundane. They can even prevent your best talents from showcasing their skills.

Using online appointment scheduling can save your employees a lot of time. Since online appointment booking is automated, you don’t need to assign any employees to take calls and accommodate bookings. This will allow them to contribute to bigger, more important projects necessary to the business’s growth.

If you’re running a barbershop, for example, simply inform your target audience that you have barbershop software with online appointment scheduling features. In this way, your customers can easily book an appointment without relying on any of your staff.

3. It’s an “Always On” Service

Most businesses use telephones to accommodate bookings. Although this is a cheaper option for the business, telephones aren’t always convenient for customers because many have difficulty making appointments by phone during office hours.

By using online scheduling, your business can accommodate bookings 24/7. This means that regardless of how busy your customers are during the day, there are still available platforms where they can book your services. Over time, this can result in more customers and better branding.

4. Online Appointment Scheduling Will Help You Grow and Increase Revenue

The lifespan of your business depends on the amount of revenue you earn for a certain period. If you’re spending more money than you earn, you might end up having to close your business mere months after opening it.

Being able to earn more revenue is another benefit you can get when you use online appointment scheduling for your business. In fact, this tool can significantly increase the financial health of your business in a variety of ways. For example:

• Since you can now accommodate bookings around the clock every day, you’ll eventually earn more profits. Around-the-clock booking means more customers, resulting in more profits.
• Online appointment scheduling will also help your business make more money. This is because your best employees will become more productive. They won’t have to take on a routine of answering calls, listing customers’ information, and booking appointments.
• This tool can also come with an online pay feature where customers can pay online right after they book an appointment. Depending on your business policies, you can even automatically charge customers for no-shows or late cancellations.

5. Online Appointment Scheduling Fosters Healthy Relationships with Customers

In today’s business arena, it’s not enough to convince customers to patronize your products and services only one time. For your business to succeed in the industry, you need to foster healthy relationships with them. This will open the opportunity for your business to generate customer loyalty for your brand.

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Using online appointment scheduling is a great way to foster healthy relationships with your customers. This might seem counterintuitive, but this tool can actually provide a better experience to your customers, making it easier for them to trust your brand.

With online appointment scheduling, customers can book within minutes and access the list of your services on various devices. If you offer next-day or same-day appointments, online appointment scheduling will allow clients to book a session once their schedule opens up.

The ability of online appointment scheduling to provide accessibility and convenience to customers will surely help you win their trust and loyalty.

6. You Can Learn More About Your Customers

Using online appointment scheduling can help you to learn more about your customers. Before a customer can book an appointment, they need to submit some of their information online. For example, they will need to provide their full name, email address, and contact number. You might even require them to indicate their gender, marital status, and employment details.

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When you know your customers’ demographics, it will be easier for your business to develop products and services appealing to them. Having access to your customers’ contact information can also help with your marketing strategies.

Are you offering discounts on weekdays? Send an SMS informing your customers about these new deals. Is your business about to launch a newsletter? Invite your customers to subscribe by sending them an email.

7. It Reduces No-Shows and Cancellations

Customers who repeatedly cancel their appointments or decide to be a no-show can hurt your business in many ways. When a customer books an appointment, you won’t receive any walk-ins for that time slot. So when a customer decides to cancel at the last minute, you’ll lose the opportunity to earn money during that time.

The number of no-shows and cancellations can decrease when you use online appointment scheduling. As mentioned, this tool will send reminders to customers days before their appointments to ensure they won’t forget.

Online appointment scheduling also allows customers to reschedule their reservations on their own instead of doing everything over the phone. This can reduce no-shows and cancellations. This is because customers can still proceed with their appointments even if something urgent comes up.

Use the Best Online Appointment Scheduling for Your Business

Customers are the lifeblood of your business, which is why it’s important to keep them happy. Online appointment scheduling can help you achieve this goal and produce satisfied customers. This in turn brings a plethora of benefits to your business.

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Picture this. Your salon business is fully booked most of the time. You’ve got an array of amazing reviews from loyal customers. And you’re running out of room for new hires in your current salon space.

It’s a dream situation many salon owners would love to find themselves in. And once they get there, most salon owners don’t have a clue about what their next step should be.

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Scaling your business is not easy. It requires careful planning and keen commercial instincts. If you scale too quickly, you risk not being able to cover your overheads. But if you don’t scale quickly enough, you risk not being able to take advantage of your position. In this blog, we look at six ways you can grow your salon business for success.

1.   Add Additional Services to Your Menu

Perhaps the simplest way to grow your salon business is to add extra services to your menu. This could mean expanding into trending treatments or offering more color services. You could also widen the selection beyond hair treatments and look into spa, skincare, and beauty treatments. Ask your customers what they want to see on your treatment menu if you need some insight.

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2.   Grow Your Team

Adding more faces to your team is a great way to increase your capacity. For example, hiring up-and-coming stylists and offering them training is a great way to ensure they develop a style that fits perfectly with your salon aesthetic.

You could also offer more experienced stylists, as they will likely bring their roster of clients with them. Remember there is a big difference between renting a chair to an independent contractor and hiring an employee. Although your customers won’t know the difference; it only affects the profit potential of your salon business.

3.   Open a Second Site

5.   Sell Your Own Products

Nexo, a blockchain environment for crypto lending, has gained popularity in recent years. But how good are its services, and can you trust it? Find the answers in our review.

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What Is Nexo?

Advantages of Nexo Loans

Easy Accessibility

As Nexo does not perform credit checks, anyone who registers an account and deposits collateral with Nexo may access the loans. However, borrowing fiat requires basic and advanced verification.

Caveats

Is Nexo Safe?