Gideon Ahenkorah No Comments

COVID-19 Update: Business Continuity Plan

Count on Multisoft Solutions to support your business in these challenging times

Multisoft Solutions has been closely monitoring how the COVID-19 pandemic has been evolving and do acknowledge that in this time of crisis, it is critical that we make it possible for you to continue your operations and help you respond to the unique demands that you may be facing. We want you to know that at this important time, you can count on us to be there to support your business.

Business Continuity Plan

As the World Health Organisation recommended social distancing as one of the measures to avoid contracting the contagious novel coronavirus, we have put the following measures in place to ensure the health and safety of our customers, colleagues and their communities are safe without compromising the quality of our services.

  • Support     

Most of you are familiar with our remote support services; hence we will be maximizing the use of our online remote support tools to provide the needed support you may require in these trying times.

For timely assistance, we advise all support request/queries are addressed to our helpdesk via the following emails:

For telephonic support, kindly call the following hotlines for onward assistance:

  • Payroll & HR Software – +233 (0)501 282390
  • Accounting & ERP Software – +233 (0)501 285733
  • Outsourcing & SaaS             –+233 (0)501 285726
  • Implementation & Training

Most of our ongoing implementation activities will be securely delivered online. Hence, we crave your indulgence to grant our consultants the required access to your servers when the need arises. All training needs will be delivered via our online remote tools.

  • Demo Request & Enquiries

Please reach out to our Business Development and Customer Service team via sales@multisoftgh.com and info@multisoftgh.com with any questions and concerns you may have.

  • Mode of Payment

In compliance with social distancing, we wish to inform you, our valued clients to make payment via bank transfer and address all related payment instructions to our accounts team. For our bank details, kindly email our accounts team via accounts@multisoftgh.com

We are confident that we will continue to operate successfully and remain committed to delivering the best possible assistance during these challenging times.

 

Thank you

Multisoft Team.

 

 

Francis Sabutey 1 Comment

5 Key Factors to Consider Before Investing in a Company

Warren Buffett is the world’s richest investor. It will surprise you that most of his wealth comes from investments in what he calls, “Wonderful Businesses.” When you make the right investment decisions, the results can be spectacular and breathtaking. But the wrong investment decision can cause grief and havoc.

As an investor looking to invest in Ghana, do your due diligence before making the investments. Whether it is a financial institution, a manufacturing company, a service-based business or a start-up company, ensure you do your homework before investing in the company.

If you have a pile of cash sitting in your bank account and you’re wondering what company or how to invest the money, the following are key factors to consider before investing in a company. It will not only help but save you from wasting and losing your hard-earned money.

  1. Determine your investing  goals and objectives

Consider your investing goals and objectives

Consider your investing goals and objectives: Factors to consider before investing in a company

Where do you invest your money and how much should you invest? It all boils down to your goals and objectives. Which industries do you understand and have a passion for? Do you have a long-term investing plan? How does your current financial life look like? Will the investment affect or reduce your standard of living? What is your risk tolerance? How much money can you risk in the investment?

  1. Examine your investing skills

Man and Woman Leaning on Table Staring at White Board on Top of Table Having a Meeting

Examine your investing skills: Factors to consider before investing in a company

Investing is a skill. You learn it through practice. The first step to making a good investment is to focus on yourself. Do you know how to read and analyze financial statements? Can you read and understand the financial performance of a company? How good is your ability to analyze investments? You should analyze your investing skills bore taking the next step.

  1. Determine Your Area of Competence

Image result for area of competence warren buffet

Define your circle of competence

Warren Buffett says you need to define your “circle of competence” before embarking on any investment journey. Your circle of competence revolves around industries you understand and have a tremendous passion for. Define your industry and select the companies that are profitable and have long-term financial value.

  1. Analyze the business and the industry

Analyze the business and the industry; Factors to Consider Before Investing in a Company

Analyze the business and its industry

As Warren Buffett would say, “Never invest in a company you don’t understand!” Also, make sure you understand the business’ structure. Read all you can about the business you want to invest in. Get their annual reports and read. Look for industry and SEC reports.  

Ideally, you do not want to invest in a sole proprietorship type of business. These businesses expose managers and investors to the liabilities incurred by the business. Rather, look for a well-run limited liability company that you understand and has a passion for.

  1. Analyze the past financial performance

Analyze Past Financial Performance of the Company

Analyze Past Financial Performance of the Company

It’s amazing a lot of investors invest based on assumptions, feelings and family relationships. Most investments made on these decisions usually become investments gone bad. If you really want to do well with your investment, then you have to get the facts—the real facts—of the company.

Look for the financial statements of the company. Look at the stock’s performance. Make sure you know about the financial performance of the company. Examine the asset, liability, income and expense structure of the business. Analyze their past three-to-five-year financial performance to have an overview of how they might perform. You will save yourself a lot of trouble if you do your financial review.

  1. Determine your exit plan for the investment

your exit plan for the investment :

Define your exit plan for the investment

What is your exit plan? How much do you project to make and when will you make that amount of money? Can the company deliver those returns in the time you set? Have you calculated your return on investment? Before you get started, know how you will receive your investment earnings. Will it be through dividends, stock buybacks, or any form?

  1. Get proper documentation of all your investments 

After you determine the financial performance and decide on investing in the company, make sure every transaction has a written-document and signed. If possible, invest with the help of a corporate lawyer. Make sure all cash transactions have accurate and legal documents. When you take time to do your due diligence, the investment would yield better fruits and you won’t have to shed tears in the long run.

Multisoft Business Management Solution

Request for a Business Management Solution

Follow our Business Food for Thought on our Blog www.multisoftgh.com/blog and share by following our Social media handles Facebook Twitter  LinkedIn.

For Payroll, Accounting & Any Business Management Solution, please don’t hesitate to contact us through our hotlines: +233 (0) 302 23 5149 | +233 (0) 302 247736
Email: sales@multisoftgh.com 

Francis Sabutey No Comments

The 5 Questions You Should Always Ask Before Making Any Investment

The recent banking and financial crises in Ghana have left many people in utter dismay. According to recent reports, more than GH¢8 billion of investor’s hard-earned money got locked up through bad financial investments. This has culminated in untold hardship among many Ghanaians and businesses.

Types of Investment Income: (Image Credit: WallStreetMojo)

Types of Investment Income: (Image Credit: WallStreetMojo)

They could have avoided all these terrible mistakes if investors have taken their time to do their homework. The greed of seeing their money doubled in a short time led them. Instead of patiently doing the homework, they rushed with their money and got hurt when the investment/financial institution crashed.

Does that mean you should never invest again? No. It means you should investigate before you invest. Here are the 5 questions you should always ask before making any investment.

  1. Is the Investment Seller Duly Licensed?

Who is selling the investment? Is it a bank, savings & loans, microfinance, mutual fund, or a finance house? Make sure shareholders have registered the investment firm with the Registrar General’s Department and granted an operating license by the Bank of Ghana (banking & financial institutions) or SEC (investment firms).

Image result for Licensed by the Ghana Securities and Exachange Commission

Finance & Investment Firms Should Be Licensed by the Ghana Securities and Exchange Commission

If they are trading through brokerage firms, check if their brokers also have the due license to operate. Don’t fall for scams. Ensure you do the verification and background checks before proceeding to look at the investment itself.

  1. Is the Investment Product Duly Licensed?

This is a critical one of the key questions you should always ask before making any investment. Every investment product sold in the financial and money market has to pass through a process of verification by the Securities & Exchange Commission (SEC). Upon approval, SEC will license the investment product and it will become a security. A financial security means that the investment has a high amount of surety of keeping the principal invested.

Is the Investment Seller Duly Licensed?

Is the Investment Seller Duly Licensed?

Also, SEC provides details of the security/investment product to the financial market for the public to make well-informed decisions. It is the information gained in the licensing process that serves as a reference for investors to make their investment decisions.

  1. Do you Understand the Investment?

No matter how promising an investment looks, never invest if you don’t know how it works. How does the investment works? Do you understand how the financial institution will grant you a return on your investment? Have you read the investor disclosure and investment documents carefully?

Do you understand the investment? Questions You Should Ask Before Making Any Investment

Do you understand the investment?

It will surprise you that most people read nothing. They just invest in ignorance. Use the Bank of Ghana Treasury Bill as a standard for analyzing all other investment returns. Don’t get scammed in any investment. Remember, “If it is too good to be true, it is!”

  1. Who is your Investment Advisor?

Professional investors have an investment team. The team selects, analyzes and scrutinizes the investment carefully before any transaction takes place. You should also get an independent and external professional investment advisor before you decide. Licensed professional investment advisors/brokers are always present in the market, studying trends, reading SEC regulations and looking at the newest deals. It will be better to pay for professional guidance than ignorantly invest your way into huge financial losses.

Who is your Investment Advisor?

Who is your Investment Advisor?

  1. What is your Risk/Reward Ratio?

Every investment you make has a risk and reward potential. The more you read, understand and gain clarity about the investment seller and the product, the more you reduce your risk. Financial education helps to lower your investment risk and increase rewards. However, keep in mind that the higher the probability of huge returns, the higher the risk. That’s why you have to understand the investment before you take action.

Multisoft Business Management Solution

Request for a Business Management Solution

Follow our Business Food for Thought on our Blog www.multisoftgh.com/blog and share by following our Social media handles Facebook Twitter  LinkedIn.

For Payroll, Accounting & Any Business Management Solution, please don’t hesitate to contact us through our hotlines: +233 (0) 302 23 5149 | +233 (0) 302 247736
Email: sales@multisoftgh.com 

Gideon Ahenkorah No Comments

Why Not Pivot: How to Turn Your Failed Business Idea Into a Great Success

A lot of business ideas die and do not get executed because the entrepreneurs fail to pivot. Most of them end up killing the idea rather than pivoting.  Pivoting in this sense simply means, making changes to your idea based on feedback. It means to revive your old business ideas. By re-strategizing, you can turn your failed business idea into a great success. 

Most often than not, when entrepreneurs try to implement their ideas and it does not go according to planned, they kill that idea and move to another one.  The sad thing about the situation is, these ideas can be saved, reviewed and refined.

When an idea fails during implementation, it is not necessarily a bad thing- the failure just means you have data now to analyse which will help you determine how to make it work some other time around. It is therefore very important to do your market and product research and pivot based on the feedback you get from the research.

Review the idea, analyze and consider ways to turn your failed business idea into a great success!

For example, you have an idea to start a laundry shop in a particular neighbourhood but based on your market research you realize the people in that community are rather looking for a trusted business to clean their homes. It does not mean you have to discard the idea, you just have to take the feedback and possibly pivot your idea to cleaning homes rather than clothes.

Businesses usually pivot several times before getting it right. This implies pivoting is not a one-time event but a continuous activity that happens during the life time of the business. The next time you hit a dead end when implementing your idea, pivot rather than discard the idea.

Follow our Business Food for Thought on our Blog www.multisoftgh.com/blog and share by following our Social media handles Facebook Twitter  LinkedIn

Emmanuel Aidoo No Comments

Multisoft Celebrates International Ozone Day

 

 

 

 

TODAY IS NOT MONDAY

INTERNATIONAL OZONE DAY

International Ozone Day: The ozone layer, a fragile shield of gas, protects the Earth from the harmful portion of the rays of the sun, thus helping preserve life on the planet.

The phaseout of controlled uses of ozone depleting substances and the related reductions have not only helped protect the ozone layer for this and future generations, but have also contributed significantly to global efforts to address climate change; furthermore, it has protected human health and ecosystems by limiting the harmful ultraviolet radiation from reaching the earth.

 

 

Let’s progress discussions on this topic:

0302 235 149/ 0302 247 736

sales@multisoftgh.com

www.multisoftgh.com

 

Source: https://www.un.org

Gideon Ahenkorah No Comments

An Experienced Web Programmer Needed

Multisoft Solutions Limited require the services of an experienced web programmer to train its team of consultants on the basics of the ff:

1) VB.Net
2) Python
3) JavaScript programing

All interested persons should send profile, detailed history of experience and financial proposal to info@multisoftgh.com

Deadline: 20th Sept 2019

Gideon Ahenkorah No Comments

Sage ESS:This Will Make Your Employees Lives a Lot Easier

This week, we want to focus on how our clients are saving cost by using paperless processes to streamline their Claims, Overtime and Leave Management — using Employee Self Service (ESS) in Sage Payroll/HR software.  

  What exactly is ESS?

ESS is that module or functionality which streamlines your HR processes by giving your employees user-friendly tools to update their personal details, bank details, apply for leave, submit claims and overtime, do performance reviews and view payslips online. It eliminates manual personnel administrative work and enhances interaction between HR and personnel while giving you more time to focus on other equally important issues –moving your business forward.

Making leave-processing seamless

This online module integrates with our Sage Payroll and HR systems, thereby saving you  capturing time by allowing your employees to apply for leave online. Capturing, approving and maintaining your employees’ leave becomes a streamlined, paperless process. It also lets you customize approval workflows and escalations to effectively manage the leave process, this helps reduce your company’s financial liability which usually is a resultant of tedious manual leave management processes.

 

But just as it lets the right people in, it keeps the wrong people out

Sage Employee Self Service (ESS) enforces stringent, internationally-accepted standards of access control to authenticate users. Access is role and based allowing users to be given access to function they will perform.This means your data is always protected.

Let’s Delve into What Sage ESS actually offers 

With just a few clicks, you can enable or disable these handy features:

Leave processing 

Employees can view their leave balances as they appear on the payroll/hr database and apply for leave on the system.

Online personal and family information 

Your employees are able to view and update their personal information such as:

  • Names and contact numbers,
  • Banking details,
  • Emergency contact details,
  • Statutory information such as ID number, tax number, addresses.
  • Details of family members, next of kin, beneficiaries, etc.

Online Payslips 

Sage ESS saves a history of each employee’s payslips, an employee can view all of these whenever they want to on their respective portal. This helps prevent the situation where payslips emailed or hand delivered to the wrong recipient.

Expense claims processing 

ESS automates travel reimbursements or expense claims. Your employee simply completes a form on ESS, the request is authorized, and the transaction  automatically updates the payroll and reflected on their payslip. Your Payroll Administrator need not capture these transactions hence speeds up payroll processing and reduces entry errors.

Online overtime processing 

Your employees can capture overtime through the Sage ESS system. As soon as the request has been approved, the hours are automatically reflected on your payroll. You can customize overtime forms and allow employees to make file attachments where necessary.

Online performance reviews

Employees can complete 360° performance and competency reviews online. Scores and comments captured will automatically reflect on the HR system.

Remember, Sage ESS promises these benefits:

  • Interactive portal for Supervisors and Management to control employee master file updates such as changes to bank accounts
  • Management and Staff accessing their current and history payslips, on their respective portal, from the comfort of their offices and from any internet enabled device.
  • In addition to payslips, employees will be able to run their own payroll (leave, claims and overtime requests) anytime and anywhere
  • Payroll reports will be accessible anytime, anywhere to Managers aand supervisors provided they are authorized to have access

Let’s progress discussions on this topic:

0302 235 149/ 0302 247 736 | sales@multisoftgh.com | www.multisoftgh.com

Emmanuel Aidoo No Comments

Multisoft Solutions’ Internship Programme: Maiden “CEO’s Challenge” to unleash amazing talents

Multisoft Solutions’ Internship Programme: Maiden “CEO’s Challenge” to unleash amazing talents.

Gaining corporate experience with Multisoft Solutions whilst still in school is certainly a resume enhancer! It will set you apart from your peers and demonstrate your interest in future opportunities while also helping you with your career choice.

Unique and well-structured internship program offers you first-hand experience and the opportunity to work on real-life projects that impact the lives of people. And that is exactly what Multisoft internship offers.

Unlike other internship programmes, Interns are given flexible five-hour hands-on training on different job areas, from marketing, computerized accounting, Information Technology, to graphic design and digital marketing irrespective of their specialties in school.

Also, moduled in the programme is a two-hour intensive computerized accounting training where interns with Accounting background are taken through Sage Business Cloud Accounting software an entry level accounting software from Sage.

Multisoft also provides career counseling sessions for Interns to shape their career and talents. Choosing a long-term career requires a good career guidance to help understand the requisite skills required to pursue the chosen career.

Maiden CEO’s Challenge to unleash Amazing Talents 

The 2019 Internship Programme was climaxed with thought-driven business development project where interns were made to form groups of four (4) with each group developing and presenting a business idea for sponsorship consideration. After days of very simulating exercise, the group battled out in a fierce competition where Team Fervid won.

 

The Team presented a live chat Application designed to make customer engagements a delightful experience. If fully developed, the App promises to be simple and flexible yet functionally rich and interactive to promote timely business communication for existing and prospective clients, business partners and investors.

 

Speaking on the competition, Mrs. Felicia Agbodan Zonyrah, the CEO of Multisoft Solutions announced the company is poised to sponsor the initiative in the areas of knowledge development and funding to help make the idea a reality.

 

She reaffirmed Multisoft’s commitment towards developing fresh talents, encouraging the interns to invest their time in soft skills which is crucial for their career development.