Oct 29, 2021 | Business
The marketing department allows you to better segment campaigns with trend analysis and customer feedback processing. Customer service managers see their task much more streamlined thanks to chatbots for SMEs, which solve incidents without the need for human intervention.
Artificial intelligence (AI) in companies of any size is essential today. It is a mistake to think that it is only available to large multinationals. There are solutions of all kinds at affordable prices that have democratized access to machine learning and automation technologies. The emergence of COVID-19 has further accentuated this need. SMEs prepared to digitize processes will be able to adapt better to scenarios of teleworking and online sales, for example. Randall Castillo Ortega, the founder of SME investment firm RACO Investment, provides insight into why AI is a valuable ally for small businesses.
Companies that work with AI benefit in all their departments. The AI is able to learn by observing human behaviors and solving problems. Asserts Castillo, The marketing department allows you to better segment campaigns with trend analysis and customer feedback processing. Customer service managers see their task much more streamlined thanks to chatbots for SMEs, which solve incidents without the need for human intervention.
Big data and AI in SMEs go hand in hand. In fact, one of the keys to AIs success is its ability to analyze large volumes of data. It processes information in real-time and delivers high-value results to the company to make better decisions.
The implementation of AI is usually linked to work in the cloud, which facilitates processes. Having cloud solutions is beneficial for SMEs because it facilitates access from anywhere to internal information. In a scenario of increased teleworking due to COVID-19, digital preparation is key to business survival. And that includes artificial intelligence in small businesses.
AI software is capable of reviewing all your data, sorting it, hierarchizing it, crossing it with each other and identifying patterns, variables and making predictions. One of the most important objectives is to get to know our customers in detail. Know how they behave, because they click on one part of the web and not in another, at what point a purchase process in ecommerce is stopped, how they interact with the content we send them. This information is used to tailor our campaigns to what we know about them and give them what they want. This increases the profitability of our shares.
The accuracy of predictions is another key to AIs success. When planning and launching new products or offers, the sales team has much more information on how to approach the public, what kind of messages work best, by which commercial channels and even in which time slots. This makes it much easier to attract new customers and retain existing ones. AI in sales has a lot to contribute.
One of the more important challenges for SMEs is how to approach customer service quickly and effectively without having to shell out a large investment in call centers or own staff. Chatbots can be a solution, says Castillo. Thanks to natural language processing, they are able to hold conversations with users and solve their problems. You can create a model that, depending on the complexity of the request, leads it to a bot or a person. Its about streamlining processes.
One of the most useful applications of AI in companies for Finance or Human Resources departments. SMBs can reduce the time they spend organizing files, creating forms, or managing their agenda with AI programs. This has an impact on the satisfaction of workers, who stop investing time in monotonous tasks without excessive value.
The data tells us that there is ample room for growth in the use of AI in SMEs. And these companies are going to need help. Technology consultancies have a great future to advise, guide and implement solutions in these companies. The ERP of the future will need experts who know how to help SMEs get the most out of it.
Companies that engage in strategic consulting must convey to their clients the importance of incorporating AI. They must also accompany them in the process, resolving doubts and ensuring that the company understands and controls the programs that have been implemented. AI is here to stay, and it is everyones mission to incorporate it into our businesses to continue growing.
About RACO Investment
RACO Investment is a financial investment firm serving small- and medium-sized companies in Panama and Costa Rica. It was founded by Randall Castillo Ortega, an expert financial adviser who has his roots in the import and export industry in Latin America. The firm has helped numerous startups find the financial support they needed to get off the ground. It has also contributed bridge loans to assist those looking to restructure or improve their operations.
Oct 24, 2021 | Business
This way, you will know when the official date will be to launch the campaign. This way, you will give your company a chance to grow and for those SEO and SEM practices to stand out in content and positioning.
It is proven in the world of marketing that sales on holidays are one of the best opportunities to sell more and attract attention, a pretty positive opportunity if advertisers and marketers know how to take advantage of it. Seasonal marketing is mostly a strategy that allows any marketing specialist to create direct marketing campaigns; in order to increase sales during a given period. Randall Castillo Ortega, an entrepreneur and the founder of RACO Investment, offers insight into how small business owners can prepare for a busy holiday season.
Seasonal marketing strategies allow business owners and operators to know the needs of consumers and increase consumption and purchase possibilities in events and holiday seasons. In turn, it also helps to increase the visibility of the product, service or brand. This way, the company, brand or service can exploit and reinforce its benefits to the maximum and work the branding as such, to increase its receptivity; also give information of constant interest and updated to the consumer, about activities and special offers.
Seasonal marketing works based on strategies or direct and anticipated actions from a previous month or season where a future conversion is sought, as well as the largest compilation of information for buyers, people and leads. It is important to be aware of all the nearby festive dates, explains Castillo. This way, you will know when the official date will be to launch the campaign. This way, you will give your company a chance to grow and for those SEO and SEM practices to stand out in content and positioning.
One of the direct actions is to generate needs of the moment, such as the beginning of any school or university season, where a need is detected, and the opportunity to use a marketing campaign focused on the academic field is created. After detecting this need, its time to move forward to start the campaign as such, where the user is prepared to locate where the best offer will be in order for you to buy the products, the brand or use the service that meets your requirements.
Know your audience and the festivities, as this will help you create a marketing campaign that suits their needs and engagement; this is achieved by knowing their traits and customs. Asserts Castillo, This creates a link between the brand as such and consumers, in this way there can be a solid relationship and achieve more visibility. It is important to interact with them and create effective engagement.
Dont try to cover all the segments that make up the audience. Focus on a specific group and try to get to know them thoroughly. The idea is that you can offer them offers and products that are in greater demand. Holidays can help you capture those customers who arent being served well by the competition. Define how much you are going to invest. Financing for the purchase of merchandise is essential. The financial system usually starts two months before a campaign with offers of loans with preferential rates for businesses that need working capital.
Offer products that suit both the season and the message of the campaign to be even more effective for consumers through offers and promotions. Create messages, designs, and content with themes related to the season or festivity. This way, you can highlight the brand you offer from the competition.
Holidays are usually a great opportunity to increase sales of any brand or company, both small and large; Its also fun because you can exploit your creativity and create offers that benefit your business.
These days, buyers have greater availability of money, and if they do not have it, they appeal to credit to be able to make their purchases. Holidays are important opportunities for companies to increase their sales. Everything will depend on the strategy and approach they give to these campaigns.
About RACO Investment
RACO Investment is a financial investment firm serving small- and medium-sized companies in Panama and Costa Rica. It was founded by Randall Castillo Ortega, an expert financial adviser who has his roots in the import and export industry in Latin America. The firm has helped numerous startups find the financial support they needed to get off the ground, and has also contributed bridge loans to assist those looking to restructure or improve their operations.
Oct 11, 2021 | Business
Army veteran and movement for mental health expert, keeping Nottinghamshire town, Retford, Upliftford for free:
In preparation for World Mental Health Day and far beyond, British Army veteran, John Watson Allison, 50, has transformed his entire home town of Retford into a free gym for under £10. Entitled the StreetGym® Retford Project, John’s unique online and offline creation has seen an English town in the county of Nottinghamshire, transformed into a free gym for residents and it’s one that never closes.
The StreetGym® Retford Project is a 2.3km circuit around the town that makes best use of its streets, street furniture and many iconic features like the River Idle and Chesterfield canal. Unlike a normal gym, the entire StreetGym® Retford Project can be viewed online and then tried out offline, any time.
Anyone can go to the StreetGym® Retford Project URL on a smartphone. They will be presented with a Google map outlining the route around the town. All along the route are workstations, items of street furniture, architectural features for example, that can be adapted for use as free exercise equipment. More importantly, users can view videos within the StreetGym® Retford Project that provide safety and workout information.
Homemade QR code signage has also been affixed around the town to aid those who want to give the circuit a go. Participants simply scan the laminated workout card and the two QR codes redirect to a workout video or the Google map of the circuit.
John, a mental health and wellbeing expert said: “For over ten years I’ve been providing movement related training in support of corporate mental health and personal resilience. As human beings we’re all designed to move, we need movement for mind and body. If we don’t move we’re increasing our risk factor for a range of physical and mental health concerns.”
The StreetGym® Retford Project empowers people to move for their mental health, to explore their urban terrain and have an adventure, absolutely free. Keeping Retfordians, truly Upliftford.
Mens Sana In Corpore Sano
Notes For Editors:
A sedentary lifestyle is well know to increase one’s risk factor for a range of chronic conditions. One study in 2014 suggested that “This major health risk is likely to increase given the increasingly sedentary nature of work.”
https://academic.oup.com/occmed/article/64/7/497/2750714
If we’re to maintain our mental health it’s imperative that we move too. Mind and body are one. The NHS site, Every Mind Matters provides further sound guidance.
https://www.nhs.uk/every-mind-matters/mental-wellbeing-tips/
John Watson Allison served with the British Army for 24 years, specialising in bomb disposal, counter-terrorist search and weapons intelligence. He had his own experience of dealing with mental health while trying to come to terms with his new civilian life. His story can be found here:
https://johnwatsonallison.medium.com/finding-opportunity-in-adversity-john-watson-allison-frgs-frsa-48f5c8e7d3ae
For over ten years John has provided wellbeing and movement for mind related services primarily in London. He runs holistic wellbeing service Motion to Mind™ and urban mind / body adventure, StreetGym®.
International sports clothing brand ASICS first coined the phrase, Upliftford in relation to the Uplift Retford event. John Watson Allison provided StreetGym® Retford training in parallel with this day and has previously presented his work to members of the ASICS Upliftford team.
https://www.eventbrite.co.uk/e/uplift-retford-streetgym-urban-adventure-tickets-174958223757
Mens Sana In Corpore Sano – Is the original phrase from the Roman poet, Decimus Junius Juvenalis, meaning “Sound mind in Sound Body.” It is also the motto of the British Army’s Physical Training Corps, established in 1860.
Motion to Mind™ – https://motiontomind.co.uk/
StreetGym® – https://www.streetgym.co.uk
Uplift Retford, StreetGym® – https://upliftretford.co.uk/
Oct 1, 2021 | Business
Always contemplate elements such as the ability to pay, risk assessment or the investigation of the best alternatives for access to capital for good financial management.
Globally, around 20.8% of small businesses closed as a result of the COVID-19 pandemic. This reflects the importance of having financing plans to sustain the operations of small and medium-sized enterprises more effectively in complex contexts such as the one now. Randall Castillo Ortega, the founder of SME financing firm RACO Investment, discusses what small- and medium-sized enterprises need to consider when contemplating financial options.
Financing is the fuel that SMEs need to achieve their goals and objectives of expanding production, territorial expansion, or simply daily operations. Through it, they receive the economic support to obtain all the necessary inputs such as raw materials, recruitment and payment to collaborators or suppliers, etc. However, there are a number of barriers for SMEs to have access to financing and, in addition to this, there are some myths about the debts they generate, causing companies to adopt bad financial habits that even tend to put them at greater risk.
In this sense, it is common to pigeonhole all financing channels as credit or as debt. This generalization is rarely analyzed and, given the lack of knowledge, it does not delve into the existing options in the market, for each moment in which the company is located. According to some surveys, explains Castillo, 92% of the SMEs polled claimed to make use of financing to pay debts, which reflects the lack of well-formulated capital plans, affecting the liquidity of small and medium-sized companies.
Given that, it is critical to establish proper and well-formulated planning to maintain healthy cash flow. While there are bad practices on the part of some SMEs in terms of their dependence on financing, obtaining capital from financing sources is not synonymous with something negative. Visualizing financing beyond being an urgent need in the short term will boost the financial health and growth plans of SMEs because, in addition to making them more competitive, it will collaborate to achieve more stable finances and contribute to their adaptability to the market.
But it should be borne in mind that there are more than just credits (which in themselves represent a liability and require collateral). There are other alternatives to financing that do not necessarily involve debt, such as factoring or financing through accounts receivable or even raising funds through an investment round.
Thinking of financing as an ally rather than a last resort contributes to improved cash flows, better access to working capital and better preparation by companies for any unexpected eventuality. On the other hand, resources such as factoring not only help ensure the liquidity and continuity of the company in the short term, but also offer other competitive conditions for SMEs. For example, they can have access to better prices and discounts when buying inputs in payments of a single exhibition (since they receive up to 80% in advance on their invoices, they can allocate that money to this type of operating expenses), or focus on covering expenses of their day to day that help them in their growth and expansion.
It is worth mentioning that the acquisition of credits or financing must be planned. Always contemplate elements such as the ability to pay, risk assessment or the investigation of the best alternatives for access to capital for good financial management, asserts Castillo.
Leveraging through loans and other capital injection resources is key to meeting various needs in the short or long term. However, for them to be truly effective, they must be used strategically and not as the last survival alternative.
About RACO Investment
RACO Investment is a financial investment firm serving small- and medium-sized companies in Panama and Costa Rica. It was founded by Randall Castillo Ortega, an expert financial adviser who has his roots in the import and export industry in Latin America. The firm has helped numerous startups find the financial support they needed to get off the ground, and has also contributed bridge loans to assist those looking to restructure or improve their operations.
Sep 30, 2021 | Business
Latin America has a significant import/export imbalance with Asia that presently remains at more than $100 billion. Furthermore, commodities represent the biggest portion of trade, yet Latin America is more centered around regular asset exchange. This prompts a disparity in what Latin America can import from Asia, which has a more enhanced arrangement of fare alternatives.
The worldwide trade industry has had the option to advance generously in the course of recent a very long time as innovation makes it simpler for organizations to direct business past their lines. Notwithstanding, there are still snags with regards to trans-sea trade due to issues like distance, monetary standards and thats just the beginning. Randall Castillo Ortega, the founder of SME lender RACO Investment in Costa Rica and Panama, offers insight into how Asia and Latin America are attempting to defeat those impediments and how this affects an advantageous connection between the two locales pushing ahead.
In the course of recent years, the trade connection among Asia and Latin America has improved essentially, presently worth well more than $500 billion. Brazil is the main trade partner for Asia; however, different countries all through the Latin American market are making strides, also. Brazil, as per research, has represented as much as $60 billion worth of Asian products offered to Asia, Australia and Russia and, as the economies of those nations keep on improving, Brazil has acquired extra ground.
In spite of the development, there are still issues with the equilibrium of trade between Latin America and Asia. Clarifies Castillo, Latin America has a significant import/export imbalance with Asia that presently remains at more than $100 billion. Furthermore, commodities represent the biggest portion of trade, yet Latin America is more centered around regular asset exchange. This prompts a disparity in what Latin America can import from Asia, which has a more enhanced arrangement of fare alternatives.
It isnt rare for there to be a sure irregularity in trade levels between two areas; be that as it may, the current framework is negative to the maintainability of the Latin America district. An improved trade equilibrium would support the Latin American nations economies more, which is something the area is frantically attempting to encourage. Nonetheless, as the force battle for trade strength proceeds, the capacity to haggle more adjusted connections endures.
Due to that unevenness, Latin America cant spend as much on the foundation as it might want. 60% of the streets in the district are as yet unpaved, contrasted with 46% in Asias rising economies, and this absence of advancement adds to the worldwide trade challenges looked at by Latin America. Nations in the locale are currently attempting to work on their frameworks, making strategies that emphasis interior advancement to give them more admittance to worldwide trade.
One region that could assist with balancing the distinction and give a more attractive trade relationship is the travel industry. All things considered, over an 11-year time frame through 2016, says Castillo, China has quickly turned into the main wellspring of worldwide travel, with the countrys outbound travel industry market seeing a 12% expansion simply in 2016. That brought about an outbound travel industry cost of roughly $261 billion, with more increments following.
Also, enhancements made to the air area will help, too. Airplane innovation has worked on colossally lately, particularly as far as eco-friendliness, which makes it simpler and more practical to offer speedier, more straightforward connections between locales, like Asia and Latin America. New air routes are being added to bring the regions significantly closer together and, albeit a suspension was constrained by COVID-19, the air area is starting to refocus and is beginning to open new courses by and by.
However long as Latin America keeps fixed on making strategies to upgrade its foundation and innovation keeps on improving to permit more productive connections, Latin America and Asia will actually want to reinforce their trade relationship. As advancement in China advances, this will give Latin America a stage at which point to upgrade its economic relationship with Asia, also.
About RACO Investment
RACO Investment is a financial investment firm serving small- and medium-sized companies in Panama and Costa Rica. It was founded by Randall Castillo Ortega, an expert financial adviser who has his roots in the import and export industry in Latin America. The firm has helped numerous startups find the financial support they needed to get off the ground, and has also contributed bridge loans to assist those looking to restructure or improve their operations.
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