Even with the COVID-19 pandemic, an unsteady economy, and ongoing disruptions to the supply chain market, the global construction market saw substantial growth between 2022 to 2023. In fact, the market grew from $14503.87 billion in 2022 to $15461.84 billion in 2023 – a significant uptick from the years before, with no signs of slowing down. 

Thanks to the implementation of new technology and tools, the global construction market has been able to mitigate challenges while improving workplace productivity. This technology has been a driving force for innovation and has opened doors to new opportunities for on and off-site construction industry employees. 

Since introducing Computer-Aided Design Software in the late 1960s, the industry has seen a steady flow of new technology. This software is invaluable to construction sites and must be taken advantage of to stay ahead of the trends and streamline workplace success.

Let’s talk about the role of software technology in the global construction market.

What is Construction Technology?

Construction technology refers to various automation tools, software, processes, and techniques used on and off-site in the construction industry. These tools help with different aspects of projects and have been the driving force for helping construction companies build bigger and better buildings over the years. 

With the adoption of construction technology, site managers can monitor their sites with construction drones, engineers can visualize data with 3D modeling, and on-site employees can get the help they need with mundane, everyday tasks. 

Whether it’s basic on-site tech or advanced computer software, this technology is a must-have in this digital age and is changing how we work and think about the construction industry. 

To truly understand the role of software technology and how it has impacted the construction industry, there are two tools we need to consider:

Computer-Aided Design Software

Computer-Aided Design (CAD) Software helps develop digital models and designs. This helps individuals create 2D and 3D designs with precise detail and accuracy. These models help engineers visualize projects from multiple angles, providing a new perspective on the design components of a project. 

Since the late 1960s, this CAD technology has completely changed construction. It was a stepping stone for the tools to follow and has revolutionized the design process to allow engineers to tap into their creative side and visualize their progress in real-time. 

Building Information Modeling Software

Building Information Modeling (BIM) software is similar to CAD software. In 1982, ArchiCAD was developed and became the first BIM. By the mid-1980s, this technology was starting to be widely used in the construction industry.

This AI-based software tool helps architects and engineers envision and understand every structural component of a building or structure. This includes materials and performance characteristics. These digital models can then be analyzed, modified, and utilized throughout the entire building process. BIM also helps contractors manage information about a project in real-time and stay ahead of construction maintenance and operational components. 

Other Types of Construction Technology 

Many other 21st-century construction technology tools have also impacted the construction industry. Tools like 3D printing, robotic arm extruders, and drones have changed the workplace dynamic and have helped construction sites keep up with demand, lower costs, and improve building quality.

Major Areas Where Technology Is Impacting and Improving the Construction Industry

As construction technology becomes more accessible, it will dramatically transform the construction market. Since the late 1960s, we’ve seen a significant shift in productivity. However, studies suggest that over 78% of contractors still use a mix of software automation and spreadsheets, while 13% still rely solely on spreadsheets. 

Introducing new technology into the workplace is a daunting task. But it’s sure to change the workplace dynamic for the better. Instead of ignoring technology, it’s best to find a way to use this technology as an advantage and to allow your business to grow with the transformations. 

Here are the core areas in that construction technology is changing:

Keep up with the Demand

The construction industry needs to build roughly 13,000 buildings every day to keep up with the global population of 7 billion expected by 2050. With the labor shortages and supply chain disruptions: This doesn’t seem feasible. However, with the help of technology, construction companies can build lean, hard-working teams and automate the mundane tasks of the workweek. This will improve workplace efficiency and help enhance the production process. 

Improved Project Management 

BIM software is an Ai-based software tool that can help team members plan projects and better utilize resources. With BIM, engineers can visualize every aspect of a product, allowing them to create detailed plans, combat challenges, and make data-driven decisions. 

Improve the Safety and Training Process 

Technology can also help identify safety hazards and minimize the risk of workplace accidents. With the addition of sensors and other monitoring technologies, contractors and other on-site employees can reduce the risk of accidents and fatalities, saving sites time and money.

Labor Shortages

It is estimated that the construction industry will need to attract roughly 546,000 additional workers on top of the average hiring process to keep up with the current demand. This ongoing labor shortage can be one of the biggest hurdles for the industry. However, with construction technology, sites can complete more work with fewer workers and improve their training processes. This can help the global construction market attract top talent and build a workplace built on efficiency and productivity.

While construction technology can’t replace your team, it can improve productivity, increase efficiency, and encourage workplace collaboration. These tools keep your team on task during the workweek and can help your business reduce overhead costs and produce better results.

If your construction site isn’t utilizing technology – you risk falling behind. New technology and revelations are paving the way toward a technology-centric workplace. With the growing popularity of artificial intelligence and advanced software, there is no telling where the global construction market will be by 2050.

The post The Role of Software Technology in Transforming Global Construction appeared first on Global Trade Magazine.

Leading FDA service, software, and training firm, Registrar Corp, recently announced the release of the Buyer Insights feature within Automated Compliance, Registrar Corp’s proprietary supplier management system.

Buyer Insights gives importers access to never-before-seen supplier data that increases visibility into their supply chains, saving time and money. The tool fully integrates into the Automated Compliance supply chain management software, further enhancing the platform’s already robust lineup of compliance solutions.

By leveraging Buyer Insights, businesses can eliminate the need for time-consuming manual research to find reputable suppliers. The software also significantly reduces communication gaps between compliance and procurement teams, which can hinder effective negotiations. With all pertinent supplier data accumulating onto one platform, teams can more easily collaborate to identify smart and safe business opportunities through an increased understanding of the market and their purchasing power.

Buyer Insights’ Key Features  

The platform includes tools that amplify supply chain transparency so users can quickly make data-driven decisions for new supplier sourcing and confidently gauge risk.

Buyer Insights includes three main features:

• Shipments – Enables users to review their suppliers’ U.S. shipment history, by product, for the past 2 years

• Insights – Allows importers to analyze how their suppliers compare to top exporters worldwide
• My Shipments – Extracts and analyzes importers’ shipments from each of their suppliers, automatically calculating the importer’s purchasing power and simplifying data for decision-makers

Registrar Corp’s Additional Compliance Services  

Registrar Corp provides a variety of compliance services for food and beverage, medical device, drug, and cosmetics establishments, including but not limited to:

• FDA registration and renewal

• Detentions
• Inspection preparation
• Food safety regulations
• Online training for regulatory compliance and food safety certification

Registrar Corp’s other software solutions include A la Calc, a tool for recipe nutrition analysis, and Cosmetri, innovative software offering cosmetics R&D, compliance, and GMP solutions.

The post Registrar Corp Launches Buyer Insights Supplier Management Solution appeared first on Global Trade Magazine.

Without modern inventory software, businesses often have to close for several days a year. Stocks are counted and documented for short periods of time instead of keeping track of inventory levels and consumables throughout the year. In times of remote work and cloud software, the classic, analogue inventory has fewer and fewer advantages.

Contemporary Inventory Management: App Instead of Slips of Paper

It is a laborious and inefficient process: the traditional filling out of paper lists during inventory to then manually transfer the collected data to Excel lists on the computer. It is no coincidence that for years we have been seeing more and more employees in warehouses and factory halls pointing a barcode scanner at packaging and equipment. Especially in production and trade, companies are increasingly turning to digital solutions.

However, it is not necessary to directly face all the challenges of Industry 4.0. Often, inventory software alone already brings about positive changes for the operational process. This is not only true for the retail and shipping sectors. Construction companies and service providers also benefit from digital inventory management. It provides a permanent overview of all vehicles, machines, IT equipment, furniture and consumables – from the warehouse to the remote workplaces to the workplaces of the employees.

It is worthwhile for companies of all sizes to distribute the inventory over several shoulders and to stretch it out over time. Inventory management software that runs on employees’ devices as well as on office computers organises this process – and prevents data loss due to hardware defects or short-term illness.

How Inventory Software Works: QR-Code for Object Identification

With inventory software, inventory officers can outsource parts of the process to employees. They know their equipment and vehicles. They often know better about raw material or machine parts than inventory assistants or external service providers.

An increasingly popular software for inventory management is Timly. The programme can be installed on the company’s own servers, but is usually purchased with secure cloud storage included. Company managers can activate access to the online inventory database for different employees. However, no user account is needed to enter inventory data, only an inventory invitation.

This is quickly sent in Timly, so that the inventory officer can fulfil his administrative role. Among other things, he or she can ask colleagues in the home office to enter their used company objects into the software or to confirm their continued use.

Generally, modern inventory programmes work with code labels on the inventory. In the past, these were often barcodes, but QR codes are becoming more and more popular. These can be easily scanned by smartphone and tablet, which takes you to the database entry of the inventory object. Depending on personal authorisation, information can be read or changed in this way.

Does Inventory Software Need Scanners and PCs?

Remote workers can be asked to scan their borrowed assets from home, not only for inventory purposes, but also to get an overview of the available company technology. This is possible without special hardware such as MDE devices; a common mobile device with a camera is sufficient.

But also warehouse workers, craftsmen or employees on assembly do not have to be equipped with MDE devices. For the inventory software, the normal company smartphone or work tablet equipped with the corresponding inventory app is sufficient.

Inventory software, such as Timly, ensures transparency in the company. Through a continuous inventory in real time, the administrative effort is reduced in total. In the end, this is worth money: having a centralised overview of the company inventory at all times reduces costs due to loss of materials and search efforts.

The compliance functions are also helpful: The integrated maintenance planner organises inspection intervals, maintenance documents and the scheduling of external service providers. Clear statistics on the age and performance of machines, vehicles, plants and equipment are generated.

A specialised, fee-based inventory software like Timly can be used flexibly and is adapted to the respective working environment and industry: User interface and database fields can be individually configured after purchase, and the competent inventory software team is available for additional software needs.

Better Than an Inventory Excel Template: Cloud-Based Software

Quite a few small and medium-sized companies still plan to store the data collected during inventory in Excel lists. They look for templates and hope that these will cover all the fields and topics that play a role in their everyday business. Unfortunately, inventorying with Excel quickly becomes confusing. Flexibility also suffers from a certain amount of data. In very large tables, employees easily look in the wrong cell and thus confuse dates, locations or status information.

With inventory software that works like Timly, on the other hand, you always know whether the target state of the inventory corresponds to the actual state. This transparency about inventory assets prevents equipment loss and downtime. Smart asset tracking software is key. The full overview of equipment, furniture and vehicles made possible by inventory software also includes being able, as a manager, to see which employees have already started their part of the inventory.

In the Timly Cloud, all inventory data is stored in such a way that authorised persons can access it from practically anywhere, instead of having to send and version an Excel spreadsheet.

Can Good Inventory Software Be Free?

Companies that have realised that an ordinary spreadsheet is not enough for stocktaking and perpetual inventory management are sometimes looking around for freeware stocktaking software. These do exist. They are usually bait offers where only rudimentary features can really be used “for free”.

Other free inventory programmes originate from the needs of individual companies and sectors and would have to be adapted at great expense to the needs of other companies. There are also numerous reports on efficient inventory software to be found on the internet.

Companies that prefer things to be uncomplicated and do not want to risk opportunity costs are better off opting directly for a fee-based solution where support and configuration are included in the scope of services. This type of software cost usually pays for itself after a short time which is why many businesses are already relying on innovative tools to help with their asset management.

Not only does employee satisfaction increase, but also occupational safety thanks to the maintenance planner functions that are included in comprehensive inventory software such as Timly.

The post Inventory Software to Simplify Processes: Timly  appeared first on Global Trade Magazine.

For companies that are involved in shipping, transportation, and supply chain management, logistics management software is a crucial tool. This tool will help to make the goods and services available for consumption at the earliest. The rise in demand for B2C delivery, same-day delivery, and next-day delivery has caused businesses to rethink their business strategies. This is where the use of the best logistics management solutions in the USA can be used to resolve logistics hassles.

We’ll look at some of the best logistics management software available in the USA in this blog and how they solve common business use cases.

The most widely used search terms when looking for the best logistics management software in the USA include:

• Transportation management software
• Inventory management software
• Warehouse management software
• Supply chain management software
• Logistics software solutions
• Order management software
• Freight management software
• Shipping software
• E-commerce logistics software
• Cloud-based logistics software

Which is the best logistics management software in the USA for business development?

Due to the complexity of logistics operations, it’s important that the software solution is user-friendly and can solve problems related to supply chain visibility, fleet efficiency, demand forecasting, and supply chain analytics.

LogiNext Solutions 

LogiNext Solutions is one of the best cloud-based logistics management software that is designed to help businesses of all sizes optimize their logistics operations. The platform gives companies real-time access to their orders, enabling them to monitor their progress and spot any possible supply chain problems. The program also offers carrier integration, and top-rated optimization algorithms (driven by AI and ML) that can assist companies in lowering transportation costs and delivery times. The user-friendly interface of LogiNext Solutions is another important benefit, making it simple for organizations to start using the program from day 1 and optimize operations based on custom reports.

Oracle Transportation Management (OTM)

Oracle Transportation Management is a popular logistics management software that is designed to help businesses streamline their transportation operations. Planning, execution, and monitoring are just a few of the services that the software offers to address every facet of logistics management. One of OTM’s key benefits is its capacity to optimize shipping routes, which lowers transportation costs and improves delivery times. Additionally, the platform offers real-time insight into shipping progress, enabling them to swiftly detect and resolve any potential problems in the supply chain.

SAP Transportation Management (SAP TM)

Another top-rated logistics management software that is commonly used in the USA is SAP Transportation Management. Businesses can use the software to manage their whole supply chain, including carrier selection, freight planning, and optimization. One of SAP TM’s important strengths is its capacity to interact with other SAP systems, enabling an information flow that is seamless between multiple departments. Businesses can use the software’s comprehensive analytics and reporting features to get insights into their logistics operations and pinpoint areas for development.

Finally, deciding on the best logistics management software in the USA for your company might be difficult. As more firms sell products online and require sophisticated shipping and fulfillment processes, there is a growing demand for software solutions that may assist them in managing their e-commerce logistics operations. On the other hand, businesses can discover the best fit for their needs by analyzing the software’s functionality, integration possibilities, and user-friendliness. Whether your company is small or large, there is a logistics management software system in the USA that can help you optimize your operations and cut operations costs.

Summary: This blog will help you find the answer to the best logistics management software in the USA. It entails the key features each of the providers offers to ensure hassle-free supply chain operations.

Author Bio

Matt Murdock works for a leading SAAS-based platform called LogiNext Solutions. Where he helps businesses optimize their logistics operations and improve their delivery performance. With a passion for innovation and technology, Matt is always looking for new ways to streamline logistics processes and enhance customer experiences. In his free time, he enjoys writing blogs based on his experience in the logistics industry. Happy reading!

The post Which is the Best Logistics Management Software in the USA?  appeared first on Global Trade Magazine.

Global research commissioned by ReversingLabs, the market leader in software supply chain security, and conducted by Dimensional Research, revealed evidence that organizations recognize, and have been impacted by, software supply chain security threats. The ReversingLabs Software Supply Chain Risk Survey found that nearly 90 percent of technology professionals detected significant risks in their software supply chain in the last year. More than 70 percent said that current application security solutions aren’t providing necessary protections.

Dimensional Research surveyed more than 300 global executives, technology, and security professionals at all seniority levels directly responsible for software at enterprise companies. The ReversingLabs Software Supply Chain Risk Survey set out to identify the sources of software supply chain security issues across internally developed, open source, third party and commercial software, as well as the frequency of these issues. Through the research, ReversingLabs also sought to investigate the maturity of organizations’ software supply chain security program; the tools currently used; and the perceived value of those tools in addressing the security of the software supply chain.

Key findings of the ReversingLabs Software Supply Chain Risk Survey include:

Software Supply Chain Issues Fuel Ongoing Business Risk

Nearly all respondents (98 percent) recognized that software supply chain issues pose a significant business risk, citing concerns beyond code with vulnerabilities, secrets exposures, tampering and certificate misconfigurations. Interestingly, more than half of technology professionals (55 percent) cited secrets leaked through source code as a serious business risk followed by malicious code (52 percent) and suspicious code (46 percent). Recent public attention on secrets exposure from CircleCI and other breaches has heightened awareness of this emerging issue. Software tampering was cited by 38 percent of professionals in the study as a serious risk. The disclosure of the recent 3CX supply chain attack may drive more attention to that issue.

These sources of risk led to problems for the majority of respondents: almost nine out of 10 companies detected security or other software issues in their software supply chain in the last 12 months. While open source software has long been viewed as the main culprit for software supply chain security issues, the research reveals that internally developed software (47 percent) is nearly tied with open source (49 percent) for the leading source of software issues, followed by commercial software (30 percent).

Enterprises Lack Control of the Software Supply Chain…and They Know It

Despite the prevalence of software supply chain risks, most enterprises are ill-equipped to identify and mitigate those risks, according to the findings of the survey.

Survey participants overwhelmingly (88 percent) recognized that software supply chain security is an enterprise-wide risk, but only six out of 10 felt their software supply chain defenses were up to the task. Acknowledging the issue, 80 percent disclosed that their company is directly focused on improving security for the software supply chain.

The complexity of modern software development is partly to blame. For example, more than half of companies developing software that responded to the survey said they used contractors and third-party development companies as part of their software development process. The reliance on third parties increases cyber risk. In fact, according to the World Economic Forum’s Global Cybersecurity Outlook 2022, indirect cyberattacks—successful breaches coming into companies through third parties—increased to 61 percent from 44 percent in the last several years.

Application Security Solutions Leave Gaps in Software Supply Chain Protection

The lack of proper tools may be exacerbating software supply chain risk. Almost three quarters (74 percent) of professionals surveyed agreed that traditional application security solutions, including software composition analysis (SCA), static application security testing (SAST) and dynamic application security testing (DAST), are ineffective at protecting companies from modern software supply chain threats.

Application security testing and software composition analysis solutions are important components of software supply chain security. However, they only address specific risks such as software vulnerabilities, while leaving gaps. Companies recognize these solutions alone, or even in combination, are not enough, and nearly all agree (96 percent) that a dedicated software supply chain security (SSCS) solution is very important, enabling teams to securely control the release of software via the detection of software supply chain threats, malware, malicious behaviors, tampering and secrets exposures.

Wanted: Dedicated Software Supply Chain Security

Further defined to respondents, SSCS is described as going beyond SCA solutions that only provide open-source licensing compliance and vulnerability detection, and SAST and DAST solutions that analyze source code quality for vulnerabilities.

Software supply chain risks demand evolved application security capabilities that confront the full spectrum of challenges introduced by internally developed, open source- and third party components, commercial software, and binary misconfigurations. ReversingLabs comprehensive Software Supply Chain Security (SSCS) platform surpasses just addressing vulnerabilities and license compliance issues in open source components, providing inspection of internally developed binaries, commercial and third-party code and identifying malware, malicious behaviors, misconfigured certificates, evidence of tampering, version differencing, and secrets detection and prioritization.

The post Nine Out of 10 Companies Detected Significant Software Supply Chain Security Risks in the Last 12 Months, According to New ReversingLabs Report appeared first on Global Trade Magazine.

As such, several developers and broadcasters are striving to boost their video streaming software and services by creating original content to enhance brand reputation. Availability and quality of premium live content on different devices continues to grow, as live video streaming is in its nascent stage. Viewers who were earlier watching live events and sports on TV have started to shift towards these platforms, mainly due to the availability of live video content as per their linking and convenience.

This demand-side trend is working in favor of the growth of the video streaming software market, which is projected for nearly threefold growth over the next decade.

Key Takeaways

• For residential end-users, 4K or UHD video streaming software is becoming mainstream, and this trend is likely to grow with an increase in the availability of mobile devices that support these formats.
• Although some regions such as Latin America have limited broadband penetration and high levels of piracy, they show great potential in becoming over-the-top (OTP) video streaming software market leaders in the coming years, owing to the changing habits of end users.
• Although growth in the total number of video streaming subscriptions is slowing down in North America, consumption time or video streaming time per user continues to increase, as the content that is available to stream is constantly improving.

COVID-19 Pandemic Impact Analysis

The pandemic benefited the market for video streaming software. Because most individuals were staying at home due to mandatory confinement measures and health safety compliances, there was an increase in VoD and OTT subscriptions.

Several offices were closed due to supply chain disruptions across verticals and containment measures, while a majority of businesses adopted the “work-from-home” initiative. This increased the use of video streaming for business continuity needs such as internal communication, training & development, and massive audience interactions all around the world.

As per industry experts, most video streaming vendors or those from related markets experienced an increase of 20%-40% in their customer base due to the pandemic.

Competitive Landscape

Brightcove Inc., Haivision, IBM, Kaltura Inc. and Panopto are key video software solution providers featured in this report.

To strengthen their offers in the market, video streaming software providers are using both, organic and inorganic growth tactics, including new product launches, product upgrades, partnerships and agreements, business expansions, and mergers & acquisitions.

Leading video streaming software service providers are Netflix, Amazon Prime Video, Hulu, Disney Plus, and YouTube TV.

• To unlock the potential of video streaming services, several major video streaming service providers are willing to invest extensively in innovation and research & development processes. Market players are also working on assuring greater quality and consumer satisfaction with technology.
• Netflix introduced video games in July 2021 as part of a drive beyond films and television. It aided the corporation in making its first major leap outside television series and films, and it now plans to expand into video games.
• Amazon introduced a free video offering on its shopping app in May 2021. The firm established MiniTV, a free, ad-supported video streaming service available within the Amazon shopping app.

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BairesDev®, a nearshore software solutions company, has released a new whitepaper highlighting upcoming trends in software and e-commerce. The report’s analysis is based in part on a 150% increase in Bairesdev’s own software projects over the past 20 months – a period marked by challenges and innovation in online retail.

While e-commerce grew globally during the pandemic, Southeast Asia and Latin America experienced the highest growth in 2022, with over 20% in each region.

The report highlights five major trends:

1. Brick and mortar is NOT dead. However, retailers must change how they operate. 54% of consumers prefer hybrid shopping, in which clients view a product online and purchase it in a physical store. With this in mind, retailers need to build an omnichannel presence to stay competitive. Companies need to take advantage of new technologies to reach the consumer creatively.
2. Personalization or nothing. AI drives personalization, putting consumers at the center of the e-commerce experience and prioritizing their unique needs. Using augmented reality (AR) in an online store can increase sales by up to 71%. Immersive and interactive technologies that make the user experience more engaging (and easier) will only increase.
3. Digital-conscious consumers demand ethical shopping: Gen Z and Millennials demand products and services prioritizing privacy, security, sustainability, and ethical practices. AI-based technology enables companies to improve their diversity and sustainability efforts.
4. It’s all about data: Data-driven decisions are key to boosting business success, especially for retailers. As data-driven organizations are 23x more likely to acquire customers, 19x more likely to be profitable, and 6x more likely to retain customers, retailers should continue to invest in cloud computing technologies as businesses can access a wealth of data, using this information to make decisions in real-time.
5. Mobile device usage is crucial to e-commerce: Mobile sales account for 43.4% of total e-commerce sales. To stay competitive, retailers must prioritize optimizing their e-commerce experience for mobile devices and delivering exceptional customer experiences. Companies failing to optimize their online shopping experience for mobile devices risk losing significant revenue and  engagement.

Click here to download the full report: https://www.bairesdev.com/blog/take-your-ecommerce-to-the-next-level/

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The trouble comes down to ensuring that the software that you choose is the best for your business. Let’s go through a brief framework for selecting the right procurement software for your needs.

Understanding Your Unique Business Needs

The first step in choosing the right software lies in a thorough analysis of your existing procurement processes. Ask yourself questions about who is involved, what kind of tasks need to be performed, and what systems you currently use.

It’s also beneficial to define a list of solid pain points that you can spot in your current process. This can be several factors, including:

• Time-consuming manual labor
• Lack of spending insight
• Difficulty managing supplier relationships

When you’ve deciphered these pain points, the next step is to evaluate what goals and objectives you have for your business, both short-term and long-term, for growth, cost reduction, and supplier management.

Finally, consider what kind of financial state your business is in. What budget do you potentially have for selecting this procurement software? There are many factors to consider when determining this number: upfront costs, ongoing maintenance, and potential savings, to name a few.

Key Features to Hunt For

There are many procurement software out there, and each has its own unique array of features and benefits. If you want to get the most bang for your buck, seek out software that is all-encompassing and features order management, supplier management, contact management, and e-sourcing. Match your business needs with these software features and see what makes the most sense to invest in.

An important feature to consider, particularly for start-ups or small businesses, is scalability and flexibility in software. A reason why someone might want to use ProcureDesk instead of software like ProcurementExpress.com, for example, is because it is better equipped to accommodate changes in your business over a long period of time. If your business is well-established and doesn’t expect much future growth, though, you may not consider this factor.

Vendor Evaluation and Selection

When selecting your procurement software, it is important to first spend some time shopping around. Don’t jump onto the first option you see. Take the time to research and shortlist potential vendors based on their compatibility with your business. While everyone has their own set of criteria for a quality vendor, things like reputation, functionality, support, and pricing are all fairly universally considered.

A good way to see not only if a system works for you but also if a vendor is respectful and trustworthy is by requesting demos and trials of the software you’ve narrowed down to. More often than not, the vendor will allow this, and you can see firsthand whether or not the software is a good match for you and your business.

The Importance of Implementation

Once you finally have selected a procurement system for your business, one that you feel fulfills all of your business needs and is vendored by someone respectable, the next thing to consider is how you plan to implement this software. Implementation is an incredibly important, sometimes overlooked, step in successful software adoption.

A few things that are typically done when new software is being implemented are setting up a knowledgeable project team, setting a hard timeline for the implementation, and ensuring that the software has been fully tested and checked for potential errors before go-live occurs.

To take additional measures, provide user training to ensure that employees use the software effectively and maximize its benefits. In the months following implementation, be sure to provide ongoing support, whether that be through the form or technical support, or training updates. When these steps are utilized, continual success is nearly guaranteed.

Build The Best Business You Can

Though finding and using procurement software is a process that has quite a few initial moving parts and complex considerations, it is something that will be incredibly worthwhile in the long run for the efficiency of your business. The amount you’ll save in reduced costs and spending visibility will make this software pay for itself tenfold. Just be sure to conduct the proper research and take the time to slowly implement the change. Then, sit back and watch as your procurement processes improve exponentially!

The post How to Choose the Right Procurement Software for Your Business appeared first on Global Trade Magazine.

 TurboTax

TurboTax, from Intuit, is one of the most well-known names in the tax business. Do-it-yourself (DIY) filers have a wealth of options, but it’s the offerings (for nearly every kind of taxpayer) that sets TurboTax apart. Full-service, premier packages are adequate for most medium to large businesses while self-employed folks filing federal returns pay in the range of $360.

One issue TurboTax has had to manage is regulatory scrutiny. The Federal Trade Commission sued TurboTax for deceptive marketing tactics and Intuit ended up paying a $141 million settlement. A stain for sure, but the software itself is still one of the best.

 1040.com

 If you know ahead of time that your return will be straightforward, 1040.com is a smart choice. The interface is easy to navigate as is the pricing structure. There is no free federal option available, something that rivals enjoy pointing out. Yet, at the same time, 1040.com does not engage in much marketing/up-selling into more expensive tax prep products. There is no charge for filing in multiple states or working with a variety of income streams.

 H&R Block

Not all tax software is straightforward. The ones that aren’t often require in-person help. Yet, accessing that help can be tricky. Most will offer some sort of advisory service, but H&R Block does it the best.

The company takes advantage of its more than 9,000 offices throughout the US which means it’s more than likely you can find someone near you. Free filing options are available to those taxpayers with simple returns, and if you get stuck access to on-demand video, screen share assistance or chat is available with an array of tax experts. This of course comes at a cost.

 FreeTaxUSA

Owned by TaxHawk, FreeTaxUSA is a must for folks who are self-employed. In general, those who work for themselves have returns that can be a bit more complex. Multiple deductions are common, and the process is rarely as easy as an individual who is employed, earning a fixed salary month to month.

While FreeTaxUSA does not count on the extensive in-person network like H&R Block, their Deluxe Edition offers live chat assistance five days per week and is reasonably priced.

 Jackson Hewitt Tax Services

Lastly, if you file over multiple states, look no further than Jackson Hewitt. For a $25 flat fee, Jackson Hewitt provides a federal return and unlimited state returns. At such an attractive price point Jackson Hewitt manages to keep its competitors in check – many of whom charge separately for each state return. The firm has become especially popular with digital nomads that the pandemic only accelerated.

The post Timely Tax Software Solutions to Accompany us in April  appeared first on Global Trade Magazine.

Inventory Management Software Market is anticipated to grow through 2032 owing to its capability of empowering users to track the complete asset lifecycle from procurement to retirement. In addition, inventory management software offers several benefits, such as improved visibility, fewer errors and discrepancies, fewer stockouts, efficient operations, reliable inventory planning and forecasting, and the ability to add new sales channels easily.

Besides, with constantly increasing investments in the manufacturing sector, the firms are adopting inventory management software to improve production planning, enable multi-channel integration, and gain more visibility of profits and margins in line with reducing operational costs.

In addition, the key providers in the market are also seeking to strengthen their foothold in the marketplace by expanding their portfolios and entering valuable mergers and acquisitions. Citing an instance, in January 2023, Albertsons launched a new inventory management system across banner stores. This rollout was supported by Afresh, the fresh food technology firm, and will assist store teams to plan better for the fresh production of food items, reduce food waste, and gather valuable data through their software.

Overall, the inventory management software industry is segmented in terms of type, application, deployment model, organization size, end-use, and region.

Considering the type, the manually managed inventory system segment held over 30% market share in 2022. Since manually managed inventory systems process simple computations related to inventory management, and complex calculations depend largely on the formulas entered by users, they are being increasingly adopted by small businesses.

Based on application, the asset tracking application segment is anticipated to witness considerable growth through 2032, as it helps improve asset inventory accuracy while reducing asset auditing efforts. Asset tracking also helps in cost savings owing to unnecessary equipment losses, labor costs, and subsequent duplicate purchases.

By organization size, the SME segment held over 60% market share in 2022. SMEs can leverage modern inventory management software to streamline their storage and distribution operations and gain a competitive advantage, which will augment the market demand during the next decade.

Regionally, the North America inventory management software industry was valued at over USD 1 billion in 2022 and is anticipated to register notable gains through 2032. The regional growth can be attributed to the increasing popularity of omnichannel retailing and the rapidly expanding e-commerce industry. As per reports, the total sales from the e-commerce section in the USA was USD 959.5 billion in 2021, which increased by 18.3% from 2020’s sales volume of USD 811.6 billion.

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