Monthly Archives: March 2022

A partnership between Dow and advanced recycling innovator Plastogaz promises to recover some of the estimated $120 billion of value lost annually in plastic waste by accelerating the conversion of waste plastic into feedstock.

Dows investment in Switzerlands Plastogaz and its proprietary catalytic hydro-cracking technology is intended to scale advanced recycling solutions to enable major brands to use recycled content in their products. This is vital to brand owners in achieving their highly publicized targets for usage of post-consumer recycled content coming up in 2025 and beyond.

The collaboration is an important strategic step for Dow and advances our commitment to create circular plastics with the lowest possible CO2 footprint, said Keith Cleason, Dows Vice President of Olefins, Aromatics and Alternatives. We are excited to continue to collaborate with innovative startups like Plastogaz, who share our ambition to mitigate the negative impacts of climate change and plastic waste, in line with our global sustainability goals.

Plastogazs technology is more efficient and less energy intensive than some other forms of advanced recycling, the company said. Dows materials expertise will help further develop the technology. The goal isto convert polyolefin film and packaging waste into materials with the same quality as current virgin polyethylene produced from fossil naphtha, said Dow.

Dow anticipates commercialization to start within the next five to seven years.

Plastic pollution is a global crisis, and our main goal is to eliminate millions of tons of plastic waste every year and return it into the valuable resource that it is, so it can go on to be used again in a more circular and sustainable way, explained Plastogaz founder Felix Bobbink. We want to change the way the world thinks about plastics not as something to throw away, but as a product that can be used over and over again, sustainably and without damaging our natural environment. If we want to make long-lasting change, we need to work with like-minded and ambitious partners like Dow who have the potential to scale our technology.

Plastogaz is a spinout company from Switzerland'sEcole Polytechnique Federale de Lausanne. It was incorporated in May 2020.

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Dow Partners with Plastogaz to Scale Advanced Recycling Technology - Plastics Today

After a couple of years away from the full in-person conference experience, the team at Hanzo was so excited to be back at Legalweek earlier this month. It was wonderful to feel that things are beginning to return to some semblance of normal. As always, we left inspired by new ideas, new conversations, and new connections.

I was heartened to hearboth in presentations and among colleagues at networking sessionssome of the conversations weve been having here at Hanzo for quite some time. One recurring theme from Legalweek concerned the challenges of ediscovery with modern collaboration data. A number of sessions discussed the burgeoning use of collaboration applications and the ediscovery challenges and risks that follow.

Im glad to see this growing recognition that the collaboration data generated by applications like Slack, Jira, Trello, Miro, and more are vital to resolving litigation matters and determining the facts in investigations. That awareness is causing more companies to grapple with questions about managing the data that their collaboration tools generate. And there are a lot of questions!

Here are the highlights of some of the conversations I heard at Legalweek.

Several factors have driven the recent rise in collaboration data. First, of course, there was the widespread shift to remote work for knowledge workers worldwide and the accompanying need for workers to have communication tools that enabled ongoing connection despite physical separation. Technological advancements in recent yearspredating the pandemichave also spurred the expansion of tools, and in doing so fundamentally changed how and where we communicate in the business setting. Its no longer just email or messaging platforms, as communication capabilities become integrated into ticketing systems, project management tools, HR systems, and practically every new SaaS application within the enterprise. The capabilities of those tools, and their interconnections, also continue to expand, creating new challenges for information management.

At the same time, litigants have recognized that these emerging tools may generate discoverable data. Moreover, organizations have realized that these applications often contain data that can help them get to the bottom of their investigatory inquiries, and, in doing so, help mitigate risk.

Of course, just because data might be relevant or helpful doesnt mean its readily accessible or straightforward. How do organizations identify, preserve, collect, and produce collaboration data for ediscovery or investigations? How do we define a custodian, when entire teams may have access to a document or communication channel? How can legal professionals determine a fair and reasonable scope of discovery when traditional ESI protocols no longer apply?

When discrete tools like email were the primary data source for ediscovery, we negotiated scope first in terms of data sources, custodians, and date ranges. So, to begin with, we might preserve or collect Johns mailbox with emails from January 2020 to May 2020. Wed refine that scope in terms of topics, themes, and perhaps keywords. Now were not looking at all of Johns emails for five months; were only looking at his emails within that time window that contains a keyword or relates to a topic.

Defining scope was relatively easy because an email message generally includes all of the information needed to determine its relevance and importance (and the content is static once sent!) Ediscovery teams can see who an email is from, whom its addressed to, what it relates to, and how the conversation unfolds over time.

With collaboration tools, though, messages are no longer self-contained conversations. How, then, do we search through that data for important information? Scoping collaboration data is a Goldilocks problem that presents issues on both sides.

First, theres how to scope an inquiry that captures enough data when an individual chat message or comment contains only a tiny sliver of related information. The message itself doesnt tell you everything about who was involved in a conversation, how the conversation began, or how many topicsnever mind what topicsthat conversation encompassed.

Context, as weve said many times, is crucial. Within Slack, we often solve that problem by considering the direct hit messages that include keywords or key concepts and a set number of messages or a defined amount of time before and after those direct hits.

But context is only one side of the coin. Its equally easy to create an overbroad scope with collaboration data because collaboration apps generate so much differing data. A Slack conversation could include links to an Outlook calendar event, a Google document, a Helpdesk ticket, or a Miro project board. Those linked pieces of information are referred to as modern attachmentsand they pose some of the trickiest questions for defining scope.

The judges debate that kicked off the last day of Legalweek discussed the problem of modern attachments head-on. In the same way, we are starting the debate over modern attachments email, are links to integrated data sources embedded within a chat message also relevant to the scope of a matter? To answer that question, ediscovery teams need to access each attachment to determine what it is and what its about. Is there a way to automate that process? Or does identifying relevance mean clicking through each link one at a time?

Theres another question thats hidden a layer deeper: that of versioning. Say youre looking at an Asana project related to an investigatory inquiry or an ediscovery matter. That project references and links to a document stored in a document repository like Google Drive. But is the version you see today, while youre evaluating the issue, the same version that existed then when it was initially linked? If not, how do you find that version?

Its a compelling question, to be sure, and one that the legal industry hasnt found a complete answer for yet.

One parting thought: despite the complexities of collaboration data, organizations must determine the scope of an inquiry based on the relevance and importance of data, not on their technical ability to find, search, or export that data. In other words, you should be able to confidently manage whatever collaboration data your organization has that would help to resolve an issue, rather than restricting your inquiry to traditional data sources because you dont know how to access or manipulate a particular data source.

I loved hearing these questions and conversations at Legalweek. Theyre exactly the types of questions that Hanzo has been askingand answeringfor years.

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How Is Ediscovery Technology Rising to the Challenge of Collaboration Data? Reflections on Legalweek 2022 - JD Supra

NEW YORK, March 24, 2022 /PRNewswire/ -- Passengers in New York City will soon be able to use their Uber app to e-hail a yellow taxicab as a result of a first-in-the-nation deal announced today between Uber and taxi technology system provider Creative Mobile Technologies (CMT). Yellow taxi drivers on the CMT platform, which includes the taxi app Arro, will gain access to Uber's massive customer base, yielding a higher volume of trips and expanded revenue opportunities.

"New York City is back!," said Ron Sherman, Chairman of Creative Mobile Technologies and a pioneer in the taxi industry. "As businesses bring their employees back, as tourists flock to New York City again and as New Yorkers start going out and replenishing our local economy after a devastating pandemic, yellow taxis and Uber are bringing the best our industries have to offer to help this city get back on its feet."

"This is a real win for drivers no longer do they have to worry about finding a fare during off peak times or getting a street hail back to Manhattan when in the outerboroughs," said Guy Peterson, Director of Business Development for Uber. "And this is a real win for riders who will now have access to thousands of yellow taxis in the Uber app."

The synergy between CMT and Uber began in 2021 when the taxi technology company began doing business with Uber's out-of-home advertising company, Uber OOH. CMT, which operates a full-service garage, is currently servicing a 3,500 vehicle taxitop contract for Uber OOH. CMT installs Uber's digital taxitops for which Uber sells advertising. This first-of-its-kind relationship between CMT and Uber grew into an expanded business relationship which paved the way for the taxi industry and Uber to rethink their rivalry and instead focus on shared goals for New Yorkers.

The Uber-CMT deal will start in beta this spring and roll out to the general public this summer. Anyone with the Uber app will have access to thousands of yellow taxis that operate on the CMT/Arro platform, greatly enhancing their transportation choices. Taxi drivers will see Uber-originated fares on their driver monitors which they already use to service e-hails from the Arro taxi app. The deal was designed by CMT and Uber to be a seamless experience for both the passenger and driver.

"We are especially grateful to the Taxi and Limousine Commission for smartly creating the E-hail and Flex-Fare programs which recognized the changing face of the rideshare, for-hire-vehicle and taxi industries a few years ago," said Mr. Sherman. "We look forward to a new and more prosperous chapter where passengers and drivers are empowered with choice and which will lead to a sustainable future for all our industries."

About Creative Mobile Technologies (CMT) and Arro:Creative Mobile Technologies was founded in 2005 by leaders in the yellow medallion taxicab industry with a mission to provide technology and services that make taxi operations more efficient, modern and profitable. The company expanded its footprint from its home base in New York City to over 130 cities throughout North America and in the United Kingdom. CMT and its strategic partners offers driver, passenger and media solutions, including credit card services, content and advertising, data services and e-hailing through its app Arro.

Media Contacts:Michael Woloz for CMT and Arro212-437-7373

SOURCE Creative Mobile Technologies (CMT)

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Once Rivals, Now Partners: Taxi Technology Company Creative Mobile Technologies Joins Forces With Uber in Groundbreaking Deal That Will Give Yellow...

Transformers isnt just the title of a blockbuster franchise. Its also a spot-on description of the innovative team members at Nike.

As we all know, the world of technology is a part of an ever-evolving continuum. Lorry Perkins is one of the transformative team members driving the ongoing change that occurs in technology. And although shes only been the Senior Director of the Technology Transformation Office for two years, her impact is substantial to those on the Global Technology team.

The core of Perkins work is giving Nike the tools to think about how it responds to the different waves of tech as well as learning how the company can upscale employees throughout global technology.

I prioritize career growth by ensuring [people] always have resources to connect them back to growth and stretch opportunities, Perkins explained.

As an advocate for career development among BIPOC team members, Perkins leverages Nikes resources to promote and encourage learning and networking. Part of this work is developing plans that help create proper access to decision-making tables. Evidenced by her commitment to employee growth and development, collaborative leadership resonates with her the most.

We all win as a team, Perkins said. It doesnt matter what position you play or when you play. We all come together and leave together.

For Perkins, Nikes community partnership, cultural impact and diversity initiatives are paramount to her work. Nikes influence is ubiquitous in Black culture from the popularity of the Jordan brand to the classic style of Air Force Ones and Perkins wants those behind her to know theres space for people of color at Nike and in the world of tech.

Black peoples authentic contributions to society are valuable, and the world needs to recognize that more. Perkins is using her platform to help make that possible, and she has no plans to stop reaching back and pulling people forward.

To learn more about Perkins and her work with Nike, check out her video here.

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Careers In Tech: Nike's Senior Director Of Technology Transformation Is Charting The Path Ahead - AfroTech

CloudMedx processes a million records in 24 hours, taking on a $265 billion waste in the healthcare system.

PALO ALTO, Calif., March 25, 2022 /PRNewswire/ -- CloudMedx, the healthcare technology company featured everywhere from Newsweek to Nasdaq, has achieved a milestone that will transform one of the biggest challenges facing hospitals nationwide. Its back-office data automation tool has proven able to process one million healthcare records in less than 24 hours. It would usually take hundreds of people weeks of work to achieve the same result.

Much of this work is mundane and repetitive, requiring data extraction, cleaning and submission. Currently, hospitals have to commit many hours of staff time in back offices to handle this documentation. Furthermore, highly trained and qualified staff such as nurses and doctors have to spend countless hours contributing to this work as well. The many value-based contracts their hospitals have (MIPS, MACRA, HEDIS, etc.) require documentation, as do state and federal requirements for reporting, reimbursement and metrics tracking. These include Covid-related reporting needed to meet state and federal requirements.

All this work is currently a part of what has been called the "great healthcare bloat." McKinsey estimates that administrative simplification could save the healthcare system $265 billion a year.

"With unique algorithms, our tool applies artificial intelligence, data analytics and natural language processing to one of the most onerous parts of running a hospital," says CloudMedx CEO Tashfeen Suleman. "After working closely with stakeholders across the healthcare industry including hospital administrators, we recognized the pressing need for a back-office solution. At a time when hospitals are overwhelmed, this technology will free them of a tremendous and unnecessary burden."

The tool extracts key information from electronic medical records (EMRs) and displays it in a final format ready for review and submission. In many cases, the submission process can be taken over by the CloudMedx team as well, using automation that further relieves the burden on health systems.

Part of the CloudMedx Financial Explorer, a cost analytics and financial reporting tool, the technology can operate around the clock with no human involvement. It arrives as numerous fields face a worker shortage amid a tight labor market and the "Great Resignation." The healthcare industry is no exception. Low staffing can dramatically slow down crucial back-office work, and automation is a vital part of the solution. With the CloudMedx tool in place, people can serve other roles in hospital operations.

The technology also delivers unprecedented speed to the completion of reports and forms for hospitals to receive payments and reimbursements from insurance providers. Facilities that implement the tool will be able to receive funds more quickly than ever, boosting the bottom line.

Changing work lives of doctors and nurses

In addition to its work revolutionizing the back office, CloudMedx has been working to transform the front office as well, where doctors, nurses, and other healthcare technicians have been facing tremendous frustration, exhaustion, and burnout during the Covid-19 pandemic -- and leaving in droves.

MIT Sloan Management Review has published Suleman's thought leadership on this. See The Nursing Shortage Shows Why Industries Must Choose Tech Carefully.

More than half of Americans are now feeling the effects of healthcare worker shortages directly, according to a recent poll. The problem shows no sign of letting up. A study led by the American Medical Association finds that one-in-five doctors and two-in-five nurses say they plan to leave their current practice within two years, and a third of doctors and nurses plan to reduce their clinical work in the next 12 months. This burden also leaves existing workers -- particularly in overcrowded hospitals -- especially fatigued and therefore prone to making mistakes.

New solutions from CloudMedx help free these healthcare workers from tasks that can be automated, such as front-office documentation, allowing them to spend more of their time caring directly for patients. One CloudMedx tool prioritizes patients by combining the most up-to-date information, so nurses don't have to spend their time constantly piecing through data and charts to determine which patients are in most dire need.

The CloudMedx Explorer tools focusing on SDOH (social determinants of health) and Chronic Conditions provide unprecedented detail about populations in need, down to the county level, enabling healthcare leaders to develop new ways to serve patients and communities. And the CloudMedx Covid Command Center has become a hub for leaders across the healthcare industry. See all this and more at cloudmedxhealth.com/solutions.

It's all part of a mission to turn vast amounts of information into critical insights that empower patients, providers, and payers. CloudMedx is committed to improving, simplifying, and increasing access to quality healthcare for everyone.

About CloudMedx: CloudMedx Inc. is transforming healthcare delivery using Artificial Intelligence, giving patients, providers and payers the information they need to ensure the best care, optimize outcomes, and save money. The company's data platform collects and organizes vast amounts of information from public and proprietary sources, including clinical, social, and economic insights. With powerful data visualizations, predictive analytics, interoperable tools and a suite of application services, CloudMedx provides unified patient records, unprecedented understandings of health data in various populations, and automated workflows, yielding superior outcomes. Based in Palo Alto, California, CloudMedx is deployed at some of the largest provider and payer organizations in the country, working with their existing technology to pioneer a new era in which lack of information never gets in the way of patient care or operational excellence.

SOURCE CloudMedx

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Hospital Back-Office Automation Technology Achieves Weeks of Work for Hundreds of People in One Day - PR Newswire

Max Schachter {Safe Schools for Alex}

By Kevin Deutsch

Safe Schools For Alex, a nonprofit formed by Max Schachter, whose son Alex was murdered during the Marjory Stoneman Douglas High School shooting, was awarded a nearly $2 million grant from the federal government to develop an enhanced school safety dashboard for Floridas public K-12 schools.

Along with the University of Florida, Schachters 501(c)(3) was awarded $1,998,585 by the U.S. Department of Justice Office of Justice Programs to fund a pilot program for the new dashboard.

SafeSchools for Alex is extremely excited to partner with the University of Floridaand the Florida Department of Education to create the first real-time public SchoolSafety Dashboard toassistparents,schools,legislators, and law enforcementin their efforts to reduce violence and exclusionarydiscipline in all K-12 schools statewide, Max Schachter said in a written announcement Thursday. We hope this pilot programbecomes a model for how data can be used to makeschools safer across the United States.

Chris Curran, who directs the Education Policy Research Center at the University of Florida, is collaborating with Schachters nonprofit on the project.

The opportunity to collaborate on expanding the work Safe Schools for Alex has begun while leveraging the robust school safety data collected in Florida provides unprecedented opportunities to use data to inform how and where we target supports to ensure safe schools, Curran said.

Following several high-profile school shootings in recent years, including the attack that killed 17 people at MSD on Feb. 14, 2018, policymakers and educators have sought new ways to protect students in school. The new dashboard program aims to further protect kids from violent acts.

In partnership with the Florida Department of Educations Office of Safe Schools, the newly funded initiative will work to build on Safe Schools for Alexs existing school safety dashboards to enhance the user experience, incorporate more frequent updates of data, glean actionable insights from analysis of the data and support school personnel on the use of the dashboard, according to the announcement.

According to the announcement, work on the enhanced school safety data dashboard project will begin in the coming months and continue through 2024.

Send your news to Parklands #1 News Source,Parkland Talk.

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Max Schachter's Non-Profit Awarded $2 Million To Develop School Safety Technology Parkland Talk - Parkland Talk

DUBLIN, March 25, 2022 /PRNewswire/ -- The "Washing Machine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.

The global washing machine market exhibited stable growth during 2015-2020. Looking forward, the publisher expects the market to grow at a CAGR of 3.5% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

A washing machine is an electronic appliance used for laundry of clothes and fabrics. It operates by spinning the fabrics at high speed and generating centrifugal force to remove dirt with water from the fibers. It is commonly available in fully automatic, semi-automatic and top- and front-load variants. The fully automatic machines have pre-programmed functions and can wash, dry and rinse the clothes automatically. The semi-automatic variants usually have a twin-tub system for washing and drying the fabrics separately. The components of the washing machine, such as tub, tub guards, balance rings and pumps, are manufactured using sheet steel and plastic with zinc or porcelain coatings for corrosion resistance and longer operational life.

The global washing machine market is primarily being driven by the widespread adoption of online laundry services among the masses. With the changing lifestyle patterns and increasingly hectic schedules of the working population, there is a shifting consumer preference towards on-demand laundry and dry-cleaning services that offer doorstep pick-up and delivery facilities for enhanced convenience for the consumer.

Moreover, the widespread adoption of fully automatic washing machines across both residential and commercial sectors is providing a thrust to the market growth. These machines aid in reducing the manual labor and are highly convenient to use and space-saving. Additionally, various technological advancements, such as the integration of smartphone applications with the Internet of Things (IoT) and artificial intelligence (AI) solutions for real-time alerts and remote access of the machine, are acting as other growth-inducing factors.

Product manufacturers are also developing energy-efficient variants with minimal carbon footprint and maintenance requirements. Other factors, including significant growth in the fashion and apparel industries, especially in the developing economies, along with the increasing expenditure capacities of the consumers, are anticipated to drive the market toward growth.

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being AB Electrolux, Alliance Laundry Systems LLC, Godrej Group, Haier Group Corporation, IFB Industries Limited, LG Electronics Inc., MIRC Electronics Limited, Panasonic Corporation, Robert Bosch GmbH, Samsung Electronics Co. Ltd., Toshiba Corporation and Whirlpool Corporation.

Key Questions Answered in This Report:

Key Topics Covered:

1 Preface

2 Scope and Methodology

3 Executive Summary

4 Introduction4.1 Overview4.2 Key Industry Trends

5 Global Washing Machine Market5.1 Market Overview5.2 Market Performance5.3 Impact of COVID-195.4 Market Forecast

6 Market Breakup by Product6.1 Fully Automatic6.1.1 Market Trends6.1.2 Key Segments6.1.2.1 Front Load6.1.2.2 Top Load6.1.3 Market Forecast6.2 Semi-Automatic6.2.1 Market Trends6.2.2 Market Forecast6.3 Dryers6.3.1 Market Trends6.3.2 Market Forecast

7 Market Breakup by Technology7.1 Smart Connected7.1.1 Market Trends7.1.2 Market Forecast7.2 Conventional7.2.1 Market Trends7.2.2 Market Forecast

8 Market Breakup by Capacity8.1 Below 6 kg8.1.1 Market Trends8.1.2 Market Forecast8.2 6.1 to 8 kg8.2.1 Market Trends8.2.2 Market Forecast8.3 Above 8 kg8.3.1 Market Trends8.3.2 Market Forecast

9 Market Breakup by Application9.1 Healthcare9.1.1 Market Trends9.1.2 Market Forecast9.2 Hospitality9.2.1 Market Trends9.2.2 Market Forecast9.3 Others9.3.1 Market Trends9.3.2 Market Forecast

10 Market Breakup by End Use10.1 Commercial10.1.1 Market Trends10.1.2 Market Forecast10.2 Residential10.2.1 Market Trends10.2.2 Market Forecast

11 Market Breakup by Region

12 SWOT Analysis

13 Value Chain Analysis

14 Porters Five Forces Analysis

15 Price Analysis

16 Competitive Landscape16.1 Market Structure16.2 Key Players16.3 Profiles of Key Players16.3.1 AB Electrolux16.3.1.1 Company Overview16.3.1.2 Product Portfolio16.3.1.3 Financials16.3.1.4 SWOT Analysis16.3.2 Alliance Laundry Systems LLC16.3.2.1 Company Overview16.3.2.2 Product Portfolio16.3.3 Godrej Group16.3.3.1 Company Overview16.3.3.2 Product Portfolio16.3.4 Haier Group Corporation16.3.4.1 Company Overview16.3.4.2 Product Portfolio16.3.4.3 Financials16.3.5 IFB Industries Limited16.3.5.1 Company Overview16.3.5.2 Product Portfolio16.3.5.3 Financials16.3.6 LG Electronics Inc.16.3.6.1 Company Overview16.3.6.2 Product Portfolio16.3.6.3 Financials16.3.6.4 SWOT Analysis16.3.7 MIRC Electronics Limited16.3.7.1 Company Overview16.3.7.2 Product Portfolio16.3.7.3 Financials16.3.8 Panasonic Corporation16.3.8.1 Company Overview16.3.8.2 Product Portfolio16.3.8.3 Financials16.3.8.4 SWOT Analysis16.3.9 Robert Bosch GmbH16.3.9.1 Company Overview16.3.9.2 Product Portfolio16.3.10 Samsung Electronics Co. Ltd.16.3.10.1 Company Overview16.3.10.2 Product Portfolio16.3.10.3 Financials16.3.10.4 SWOT Analysis16.3.11 Toshiba Corporation16.3.11.1 Company Overview16.3.11.2 Product Portfolio16.3.11.3 Financials16.3.11.4 SWOT Analysis16.3.12 Whirlpool Corporation16.3.12.1 Company Overview16.3.12.2 Product Portfolio16.3.12.3 Financials16.3.12.4 SWOT Analysis

For more information about this report visit https://www.researchandmarkets.com/r/64wlnv

Media Contact:

Research and Markets Laura Wood, Senior Manager [emailprotected]

For E.S.T Office Hours Call +1-917-300-0470 For U.S./CAN Toll Free Call +1-800-526-8630 For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907 Fax (outside U.S.): +353-1-481-1716

SOURCE Research and Markets

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Insights on the Washing Machine Global Market to 2026 - by Product, Technology, Capacity, Application, End-use and Region - PR Newswire

Thousands of small businesses get registered in India every month, but very few of them survive beyond a few months or years. There are many things that businesses need to do to succeed such as raise funding, get co-founders from different backgrounds, and create a profitable business model. But there are certain things without which no business can succeed, and they arepaying your employees on time and staying compliant with laws. And HR technology has a big role to play in these areas.

So, lets look at the 5 ways how HR technology helps in these areas and increases the chances of success of small businesses:

KEEPS BUSINESS COMPLIANT WITH LAWS

There are too many laws in India, and they are very complex. It is not at all easy to comply with them unless you hire dedicated compliance professionals such as chartered accountants or legal agencies. Unfortunately, small businesses cant afford them and thats why the most small businesses are not fully compliant with laws and a lot of them end up paying penalties because of that.

HR Technology is of great help to small businesses here.

The modern HR apps not only suggest the applicable compliance such as PF, PT, or ESI, based on the team size, location, and industry of small businesses, but they also automatically calculate them, make deductions, file reports, and pay the relevant compliance on the due dates. Some of them even offer a compliance guarantee and if anything is missed, the apps pay the penalty.

So, small business owners need not worry about the ever-changing laws. The HR apps keep small businesses 100% compliant with laws and therefore, they greatly increase the chances of success of small businesses.

HELPS IN ATTRACTING AND RETAINING TOP TALENT

Employees work for money and just a few errors in employees salaries or late payments are enough to make employees quit small businesses, and there can be nothing worse than your top performers leaving your business.

HR tech helps small business owners in avoiding such mistakes. Salary payments apps automatically calculate 100% accurate salary by considering various aspects of payroll such as time & attendance, overtime, reimbursements, expenses, income tax, etc., and transfer the salary to employees bank accounts on due dates. So, the employees always get paid on time without any errors.

Also, unlike old times, businesses no longer need to waste time in writing cheques, visiting a bank branch, or paying their employees one by one. Salary payment apps handle the payments seamlessly to all employees with just the tap of a few buttons. HR Tech also helps companies in rolling out employee-friendly payroll policies such as flexible benefits plans, which can help employees in saving taxes and taking home more salary and that helps in attracting and retaining talent.

PREVENTS FRAUDS

Financial frauds can break any businessno matter big or smallswiftly and decisively.

Small businesses need to collate data from multiple data providers from within and outside the organization , and they use error-prone spreadsheets to manage their data, mistakes are inevitable, and the consequences can be especially catastrophic. The HR technology guards small businesses against unauthorized data manipulation and fraud through suitable access control measures. It also helps in version control and in tracking changes. Additionally, with data storage options on the cloud, the risk of data loss is also eliminated.

INCREASE IN PRODUCTIVITY OF EMPLOYEES AND BUSINESS OWNERS

Small business owners generally get tons of queries from their employees. E.g.how many leaves do they have, how much income tax would be deducted from this months salary, when can they get their last months payslip, and many more. All such queries result in waste of time as well as frustration due to delay of information both business owners and the employees. HR tech completely solves this problem by providing on-demand access to employees.

HR tools provide self-service apps for employees, and employees get access to all the information that they need with the tap of a button. They can view their payslips, check their income tax deductions, apply for leaves and expense claims, or view their attendance records right on their smartphones. Employees no longer need to wait to get the information that they want, and business owners no longer get the frequent queries from employees.

This saves a ton of time for both employees and business owners.

MAKES IT EASY TO SCALE BUSINESS

Using spreadsheets for managing hr, or payroll department puts small businesses at a disadvantage because of lost productivity arising from the lack of integration and digitization.

By automating the gathering, organizing, storage, and processing of employee data, HR tech makes it easy to handle growth in the organizations size.

It eases working with multiple teams spread across multiple locations, and also provides the flexibility for the business to stay updated with evolving trends and changing compliance requirements.

Views expressed above are the author's own.

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5 ways how HR technology is proving to be a key differentiator in the success of small businesses - Times of India