But, what is payroll processing?

In the simplest term, payroll processing refers to the management of the salary/wage system of the employees. Under this service, the pay of an employee is calculated over a selected period of time by utilizing the information like timings, benefits, earned leaves, over time, holidays, etc. The management can be sometimes quite complex which naturally then involves a high cost for the company.

Payroll Outsourcing
Payroll processing is a laborious process that requires a lot of efforts, human resources and investment in software. It a very time-consuming process due to which companies either hire an in-house team to look after payroll processing or hire payroll service providers.
Hiring payroll service providers is very popular due to the complexity involved in the process.
Outsourcing payroll work has various benefits. Some of the benefits are-

• It is cost effective.
• Saves the time of human resources.
• Payroll service providers are well aware of regulations
• Compliances are taken care of by the service provider.
• Confidentiality is maintained regarding client’s compensations or pay structures

Importance of Payroll Processing

• Determination of compensation- Payroll processing helps in determining the accurate compensation of any employee by compiling the holidays, leaves, late comings, earned leaves and other things that add up to the compensation structure. It is very important to calculate the correct salary of the employee.
• Maintains the company’s reputation- Employees are the company’s representatives. Paying them rightly and in time is very important. It builds a positive reputation of the company. If a company fails to reward the employees correctly, it can lead to both morale and compliance issues.

Conclusion
Payroll processing plays an important role in any organization. Formation of a payroll processing unit from scratch is a challenging task for any company.

DNA Growth is a global professional services provider specializing in Finance and Accounting Outsourcing, Payroll Support and outsourced Digital Marketing Solutions. Contact our Dubai Partner, Mr Kanav Minocha @ kanav.dubai@blog.dnagrowth.com (or alternatively feel free to WhatsApp on +971 56149 8070) to understand how we can help you with the same.

The post Payroll Processing : Dubai Perspective appeared first on DNA Growth.

Starting a business is never an easy task but visualizing the plan in writing leaves an everlasting effect. Establishing a business in Dubai, the future city of business and an oasis of the middle-east is one of the best decisions you can take as an entrepreneur. Our team at DNA growth has worked on over 1,200 projects to help entrepreneurs build and grow businesses across the globe. Growing a business is a mix of art and science. A business plan helps create a blueprint which acts as a guiding force for the present agendas and future commitments.

Here is why making a business plan critical for a successful business in Dubai-

1. Establish benchmarks- Business plans serve as strong benchmarking tools. They depict the accurate picture of the business. We can judge our performance based on the business plan. We can calculate where strategic planning is weak and in what areas the business is doing just fine. We can pivot the business as per our capabilities and market requirements. The business plans put an obligation on the business owner to be truthful to the business.
2. Hold yourself accountable- When you build a business plan, you address a lot many questions that are included in the format of the business plan like the vision and mission statement, management roles, revenue models etc. When all these questions are answered properly via business plan, the business owners can track down their performance and be accountable for the points noted.
3. Confirm the math- Ideas may sound profitable when discussed casually, but doing the actual math and building financial models help in understanding the real position of the business in terms of the financial goals and profitability.
4. Gain a deep understanding of the market- When a business plan is built, it takes a lot of research into consideration. The research is done in regards to the market, industry growth pattern and product development. The financial aspects of the industry are also measured like the salary structures, costs related to raw material procurement, rental place etc. This result helps one in developing a deep understanding of the business.
5. Clarity- When written down, the plans become goals. Also, writing makes business goals and actions much clearer. One has to really think it through and put it down which offers amazing clarity in regards to the overall business scenario.
6. Plotting your course of actions- Business plans help you chart the direction of operations and actions to be taken. In times of doubt, business plans are of great help. Also, without written plans, there remains a possibility of shifting strategies in the short term.
7. To gather research about product and market- Business plans force one to execute market research to generate actual business insights. Without research a business plan is incomplete. Business plans are of great value because of the embedded research.
8. Attract investors- A well-presented business plan with all the information, research and financial backing frames a positive image of the business in the mind of the investor. It highlights to the investor the business opportunity, the solution offered by the company and various other analytical tools like budgeting and SWOT. Thus, Business plans/ Investor pitch decks serve an important role in raising funds for a business in Dubai.
9. Determine financial needs- How much capital is needed? How much working capital is required? The process of creating a business plan answers all the questions that guide a business owner with real financial needs.
10. Understand your competitors- A business plan should include competitor analysis. This gives an opportunity to understand the competitors and their way of functioning.  It is very important to know your competitor’s offerings and how you plan to position your product/service with respect to the same.

A business plan will not ensure the success of your business, but a business plan will definitely tilt the odds in your favour.

DNA Growth is a global professional services provider specializing in Business and Financial Planning, F&A Outsourcing and Digital Marketing Solutions. Contact our Dubai Partner, Mr Kanav Minocha @ kanav.dubai@blog.dnagrowth.com (or alternatively feel free to WhatsApp on +971 56149 8070) to understand how we can help you with the same.

The post 10 ways Business Plans help!! appeared first on DNA Growth.

Some important stats that will help you evaluate the Social Media opportunity in Dubai:

1. 99% of Dubai’s Population is on Social Media.
2. Smartphones have a 100% penetration rate
3. Dubai residents spend almost 3 hours on Social Media every day.
4. Facebook has 8 million, Instagram has 4.6 million and LinkedIn has over 4 million users.

Source: GMI
Content is a game changer in the online world. Targeted content with the effective promotion can work wonders for a brand. If you do not have a strong online presence, you are leaving revenue-generating opportunities on the table. It does not matter if you are B2B, B2C or B2G. Your sales funnel is not optimized if you are not generating relevant online content on a regular basis.

Let’s have a look at different forms of marketing where content plays a major role.

Types of Content Marketing in Dubai

• Blogs- Studies say that sites with blogs have a much higher chance to appear on the first page of Google search. Blogs help in increasing the organic reach of any website or page.Source: Lyfe

As you can see in this image, there is 434%+ chance of indexed pages for a website with blogs, 97%+ companies’ websites with blogs have more inbound and indexed links.

• Videos- The more time any viewer spends on your website, the better. The time spent on a website increases by 105%, if videos are used. Almost one-third of the time spent online is spent on watching videos. The content of the video is thus significant to get the customer hooked.
• Infographics- An infographic presents the information to the audience in an enhanced graphical way. These are basically built to educate the audience. The infographic helps in visualizing the data and statistics in an effective manner.
• Industry reports- Industry reports are basically made by firms which need market research to highlight growth in a particular market/industry. These provide facts and numbers regarding the subject of the report. Presenting content in an effective manner is thus the key to building competitive industry reports. The reports help in pitching for projects and/or educating a client wrt a new market opportunity. With Dubai Expo 2020 around the corner, industry report can be leveraged as a marketing tool to convince clients.
• E-Magazines- Ebooks/ magazines help in building a relationship with the audience in an informal framework and are usually more focused on providing a branding push up.
• Social Media posts- Social media channels like Facebook, Instagram, LinkedIn, and Twitter play an important role in building a relationship with the customers. It is no secret that social media has great power in influencing potential customers. The quality of content and the way it is presented plays a huge role in this.

All the Content Marketing strategies help in generating organic audience which help businesses in the long run. The thing that matters the most is the quality of content.

Significance

• Image of a thought leader- Well-presented and promoted content helps your business become the thought leader in your domain.
• Open and honest appearance- Content development should be informative and genuine.
• More approachable- With Content marketing, you appear on different platforms of social media, through which it is easier for the audience to understand your agenda and contact, in case of query.
• Revenue- Well-built content helps in sales, automatically.
• SEO- Creating impactful content helps you in improving your SEO rankings in Dubai.

Conclusion
The idea behind content marketing is to educate customers (Potential and actual) genuinely by presenting accurate information that helps in generating trust among the customers.
In Dubai, ‘trust’ plays a huge role. DNA Growth can help you build that trust with your clients and a larger audience.
DNA Growth is a global professional services provider specializing in Content Development and Digital Marketing Solutions. Contact our Dubai Partner, Mr Kanav Minocha @ kanav.dubai@blog.dnagrowth.com (or alternatively feel free to WhatsApp him on +971 56149 8070) to understand how we can help you with the same.

The post In Dubai, Content is the King!!! appeared first on DNA Growth.