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Rental Car Insurance – Should You Buy Rental Car Insurance?

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Your flight landed an hour late. Now, you’ll be late for that important meeting. You can already imagine your customers sitting around a conference table waiting impatiently. You step to the front of the line at the car rental counter, with six other exasperated businessmen behind you who are late for their meetings, too. The rental agent plunks the contract down in front of you, and circles all the places on the contract that you’re supposed to sign or initial. Then she stares at you, as if to say, “Hurry up!” The print is small. The sentences are written in Legalese. You’d like to stop and read the fine print, but you can feel the people behind you getting more upset. You thought you were renting a car for $35.00 per day. With all the add-ons, the cost is now $70.00 per day.

Oh…the pressure…the panic! You cave in, signing and leaving your initials in all the right places. You take your contract and keys and head for your car, inwardly feeling like a failure and mad because you didn’t stand up for yourself.

If the preceding story is too familiar, there’s hope just ahead!

It doesn’t matter if you’re a regular car renter or just an occasional traveler who needs to rent a car, you’ll likely face these kinds of choices at the car rental counter. Some folks just decline everything. Some folks purchase all of the coverage offered.

But…are you wasting bunches of money on unneeded coverage or leaving yourself dangerously under insured? Before leaving on your trip, I recommend that you make two phone calls – one to your auto insurance company and another to the credit card company you’ll be using to pay for the rental car. You’ll need to find out if you have automatic coverage for your car rental from each company, and the various terms and conditions for that automatic coverage.

FIRST…CALL YOUR CAR INSURANCE COMPANY

In your personal or business auto insurance policy, there is coverage for damage to your auto. The Insuring Agreement in most policies says: ” We will pay for direct and accidental loss to ‘your covered auto’ or any ‘non-owned auto,’ including their equipment, minus any applicable deductible shown in the Declarations.”

Another phrase is VERY IMPORTANT!

“If there is a loss to a ‘non-owned auto’, we will provide the broadest coverage applicable to any ‘covered auto’ in the Declarations.” Here’s an example of how this would work for you:

You have two vehicles. One is a 2006 Toyota Camry with full coverage. It’s worth $24,000. The other is a 1980 Chevy S-10 pickup worth $1,500 that you only use for trips back and forth to the local home improvement store, and you only have liability coverage on the pickup. If you rented a car and it got damaged, your insurance company would provide the full coverage for the rental car, which is the broadest coverage in your policy.

If you normally drive an older car with only liability insurance on it, there will not be any property damage insurance extended to the rental car. In this instance, you should either use the credit card’s Collision Damage Waiver or buy the CDW from the car rental company.

Ask your insurance company representative how much coverage you have on your car. Ask if there is a limit of value on your Collision coverage. If there is a limit, and you drive a 7 year old Ford Taurus that’s worth $5,500…and you rent a new Cadillac Escalade that’s worth $55,000…will your personal auto insurance cover the damage to the higher valued vehicle? REALLY important to know this…you could owe the rental car company tens of thousands of dollars to repair or replace a high value rental vehicle if you’re not properly covered.

Find out the limits of liability. Make sure that your limits are higher than the minimum limits required by your state. Limits above $100,000 per person/$300,000 per accident for Bodily Injury, and $100,000 for Property Damage are very inexpensive. Make sure that you limits are no less than that amount…higher would be better.

Find out what collision and comprehensive deductibles you have on your car, because those deductibles will apply when you rent a car and use your own insurance for rental coverage.

Make sure that you have Uninsured Motorist and Underinsured Motorist coverage on your personal or business policy. If you are in an accident with an uninsured motorist, and the accident is his fault, recovery will be practically impossible. Likewise with a motorist who is underinsured. Best to have your own coverage protection.

Q: What if I don’t own a car, and don’t have car insurance?

A: If you do not own a car, you won’t have an automobile policy. You should buy the rental car coverage, both the CDW and liability coverage. Or, you should use your credit card’s CDW and buy the optional liability coverage from the rental car company. If you’re a frequent car renter, however, you can still buy a “non-owner” liability policy. This solution might save you money over the coverage available through the car rental company.

Q: What happens if my personal property inside the car gets damaged or stolen?

A: Most Collision Damage Waivers provide coverage for theft of the vehicle, but not any personal property stolen or damaged inside the vehicle. Check your homeowners or renter’s insurance policy because you may have coverage through them for your stolen or damaged personal property. A deductible will likely apply.

Here’s a super important tip! Some people think that, if they purchased the Collision Damage Waiver or used the CDW from their credit card, and the rental car got damaged, they don’t have to report it to their own insurance company. They are hoping that because the CDW covers the damage, it won’t affect their own insurance policy….and they won’t get a rate increase. WRONG!!! Don’t be misled into thinking that you can get away without reporting your accident to your own insurance company. In most accidents, more things get damaged than just the rental car. Even if your accident is just you running into a guardrail, whoever owns that guardrail is going to look to you to pay for the damages. Also, other people might have been injured. You could have a large liability exposure, and you might need your personal or business auto policy to cover your loss. Your insurance policy includes legal representation if someone files a lawsuit against you for damages.

If you’re going to use your own personal or business auto coverage, decline the Collision Damage Waiver on the car rental contract.

NEXT…CALL THE CREDIT CARD COMPANY

Ask your credit card company about the benefits they offer. Each company is different, and each level of credit is different. For example, a regular card might have different insurance benefits than a gold or platinum card. Ask the card company to send you your benefits IN WRITING. If you’re in a hurry, ask them to fax or email it to you.

Some cards may only cover collision and comprehensive, and leave you uninsured for liability. Some cards only offer coverage when you rent from a certain rental company. Some restrict the number of days of coverage. Some cards don’t automatically cover you and require you to sign up for a particular program. Still others limit the kinds of vehicles you can rent. (see below for some exclusions)

If you have more than one credit card, call each one and find out the card with the best benefits. Then, use that credit card to pay for your rental car, and use their benefits.

If you’re planning on using the credit card company’s coverage, you must decline the Collision Damage Waiver shown in the rental car contract. Otherwise, the credit card company’s coverage will become excess to the coverage in the rental car company’s Collision Damage Waiver. “Excess” means that any other available coverage would pay first, and the credit card coverage would pay any remaining portion of the loss.

Credit card Collision Damage Waivers cover:

o vehicle damage

o theft

o loss of use

o towing

See your credit card company’s written CDW for all the details.

Collision Damage Waivers exclude:

o Injury to anyone or damage to anything inside or outside the rental vehicle.

o Loss or theft of personal belongings.

o Liability

o Loss due to intentional acts, like DUI, drug use or other illegal activities.

o Off-road operations. If you rent an SUV and take it off-road, no coverage.

o Rental periods of more than 15 days within your country of residence, or more than 31 days in a foreign country.

o Vehicles that do not meet the definition of “covered vehicles,” such as:

– expensive, exotic and antique vehicles

– certain vans

– pickup trucks

– other trucks

– motorcycles and ATVs

See your credit card company’s written CDW for all the details.

CAR RENTAL INSURANCE

Most major rental car companies offer these four coverages.

o Collision Damage Waiver (CDW). This covers a rental vehicle damaged by an accident, vandalism, theft or loss of use. Costs range between $9 and $20 per day.

The most misunderstood part of car rental coverage is the Collision Damage Waiver, or sometimes called the “Auto Rental CDW.”

Remember…the car rental CDW provided by the car rental company is not insurance. Insurance is regulated by each state. Collision Damage coverage is a waiver. The car rental companies agree to not hold the renter responsible if the rental car is damaged or stolen, and they guarantee that they will pay for certain damages listed in their coverage agreement.

In many cases, the waiver also provides “loss of use” coverage, which pays the rental company if the damaged or stolen car cannot be rented. In most states, car insurance policies don’t cover loss of use. So, if you choose not to buy the Collision Damage Waiver, you might have a loss of use exposure if the rental car gets damaged. But if you’re using your credit card’s automatic coverage, it will pay for that loss of use.

Some car rental companies will require you to pay for repairs or replacement costs out of your own pocket up front, and then you have to get reimbursed by your own insurance company. Being forced to come up with thousands of dollars in immediate cash could ruin a vacation. You’re protected from these up-front costs by the CDW. Read your rental contract CAREFULLY!

o Personal Effects Coverage. This provides coverage for theft or damage to personal items inside the rental car. Costs range between $2 and $5 per day.

o Supplemental Liability Insurance. This provides liability coverage up to $1 million. Costs range between $7 and $9 per day.

o Personal Accident Insurance. This covers you and passengers in your vehicle for medical expenses. If you already have personal health policies or travel policies, it won’t be necessary to buy this optional coverage. It usually costs between $3 and $5 per day.

Corporate Travelers. If you’re a frequent traveler for business, do one other thing. Check with your company to find out if they have a corporate travel policy. If they do, find out what that policy covers, and then simply don’t buy duplicate coverage on the rental car contract.

Car rental outside your country of residence. Some insurers exclude coverage if you’re driving in a foreign country. Some will cover you, but only a limited time. Some credit card companies cover car rentals outside your country of residence. Check with your insurance company and credit card company for specific details, and GET IT IN WRITING!

Q: Can I allow others to drive my rental car?

A: If you’re using your personal or business auto coverage to cover your rental car, the chances are all “authorized drivers” are covered. An “authorized driver” is anyone listed on the policy. However, here’s a BIG GOTCHA! If your teenaged son drives your rental car and he allows his girlfriend to drive the car, you’re covered. If the girlfriend allows another person to drive, NO COVERAGE!

Some car rental companies have exclusions for young drivers. Some charge extra for young drivers. Find out this information BEFORE you arrive at the car rental counter.

Q: How do I file a claim if I’ve had an accident?

A: When you experience the damage or theft, immediately get a camera and take lots of photos of the damage, including any other autos or property that was damaged. Keep those photos! Notify the rental company IMMEDIATELY of the damage.

Report the damage to your own auto insurance company if you have personal or business coverage.

When you return the vehicle to the rental company immediately ask for:

o A copy of the accident report and any claim documents, which should show the amount you’re responsible to pay, as well as any amounts that have been paid toward the claim.

o A copy of the initial and final auto rental agreements.

o A copy of the repair estimate or the paid repair invoice.

o A police report, if one exists.

So the bottom line is this:

If you have personal auto insurance, commercial auto insurance or corporate travel coverage, it is usually not necessary to pay for the Collision Damage Waiver or extra coverages offered to you by the rental car contract. Your situation may vary.

Get everything in writing, and make an informed decision. Then enjoy your car rental experience!

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Top 10 Tips For Beginners And Veterans – Escape From Tarkov

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Top 10 Tips For Beginners And Veterans - Escape From Tarkov

New at the legendary Escape from Tarkov? Or have you been playing it for quite a while now? In either case, a little help never hurts.

You might be unfamiliar with specific tactics that could enhance your game and make you better. But what are those? To know more about these ways to ace your game, visit Battlelog. Escape from Tarkov hack from their team is the best way to master the game. Plus, we also have these 10 tips and tricks for EFT below that you can check out!

1.  Master Maps One-by-One

Being a trader of all crafts and master of none never benefited anyone. And if you do that with Escape from Tarkov, you’ll never improve your skill. As a beginner, try not to divert your attention to various maps unless you’ve mastered one or two.

When you start playing EFT, begin by trying maps like Customs and Interchange. These maps aren’t too tricky and familiarize you well with the game. Once you’ve mastered them, move on to improving your fighting skills. But remember, learning maps one by one is the best way to become an expert.

2.  Pro-tip: Practice Offline

You’re an EFT pro, but that doesn’t mean you don’t need practicing occasionally. In fact, the more you practice, the better you’ll become. But practicing in the online mode isn’t a wise option. Because you will keep losing health and spend your money unnecessarily.

So to practice, switch to offline mode. It’s the best way to learn how to fight Scavs well, how the maps work, and where extraction points are located. Keep polishing up your skills in the offline mode.

3.  Insurance Works in EFT too

Insurance isn’t just for your car and home anymore. In EFT, you can insure your weapons and belongings. This doesn’t mean that if the enemy loots you, you’ll get compensation for them. But it’s still advantageous because it often lets you have your weapons even after you die.

If you’re an experienced player, insuring your weapons is even better. If the enemy who loots it from you later dies, you can claim your weapons back. This way, you don’t lose those precious guns and rifles after a challenging game.

4.  Be Careful After Killing

You might be tempted to loot an enemy as soon as he dies. Even experienced players often do it. But this isn’t always a wise move.

When you kill someone, there might be some other enemy lurking around. And in your fit to loot the dead, you might not even pay attention to the enemy who’s hiding nearby. So after you kill, wait for a little to see if anyone surfaces or makes a sound. If you feel like the territory is safe, proceed to loot and move on.

5.  Be a SCAV friend when playing as a SCAV

Escape from Tarkov often lets you play as a SCAV. When you do, you don’t have weapons of your own. But you also don’t carry any liabilities. So even if you die in the game, you won’t lose essential weapons.

But here’s something every pro player knows that a beginner should too. As a SCAV, you shouldn’t attack other SCAVs. But why? Isn’t that foolish? Well, not really. In fact, doing that will attract negative attention to you and make the game difficult.

6.  Complete Quests – Lots of Them

Completing quests in a shooting game might sound lame to you. But it is an excellent way to gain experience and some other perks.

In Escape from Tarkov, you can complete various quests to get rewards and gear. Of course, some quests don’t reward you as much, and the items they grant aren’t helpful. But you can always trade them or sell them to stock up on weapons. Use the Flea Market for trading such goods.

7.  Go to Dorms

This tip isn’t really for beginners. But for experienced players, it makes the game thrilling and more rewarding.

Dorms are a dangerous location because they often contain the best loot in EFT. They are also home to the SCAV boss, and many players frequent this place looking for loots. But when you’re feeling up to it, raid a dorm to get the best loot possible.

8.  Switch between passive and aggressive style

This rule works for any combat game, but for EFT, it does wonders. As a player, you should have enough instincts to know when to play passively and go aggressive.

As a rule of thumb, be as passive as possible unless you’re faced with an opponent. Move around sneakily and make as little sound as possible. But once you’re in a fight, don’t shy away from landing a few hard blows of your own.

9.  Have a CMS Kit

In Escape from Tarkov, it will be too difficult to win if your limbs are dead or wounded. You have to reach an extraction point without your feet working properly. But recently, the makers added a surgical kit called the CMS to the game.

With the CMS kit, you can get your limbs healed quickly. It is a significant investment, and whenever you plan to go for combat, keep this one handy.

10.Know Your Sounds

EFT has an excellent sound mechanism. You can hear your enemies, and they can listen to you. In fact, everything from aiming a gun to moving makes a sound. So you have to be highly conscious.

While trying to ambush or kill someone, aim at them from as far as possible. This way, there’s little chance of them hearing you. Similarly, move stealthily to make fewer sounds. And no matter what, pay attention to enemy sounds too.

Conclusion

Whether you’re an expert veteran or a newbie at the game, you will benefit aplenty from these 10 EFT tips. Comment down below which one helped you the most in your game.

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Work Breakdown Structure and Outsourcing

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Every outsourcing project should create and make a WBS available to all its outsourcing staff. What is a WBS and how can it help you manage your outsourcing project? All projects consist of small tasks and quality control procedures. A Work Breakdown Structure (WBS) breaks down all the tasks that must be performed on the project and estimates timing and resources for each task as well as the order the tasks should be done in. It pays to have a clear and effective WBS in all your outsourcing projects.

An effective Work Breakdown Structure starts with high level activities (these may be your milestones) and breaks these activities down into lower and lower levels until you’ve covered every conceivable step in the process. Before you ever begin work on a project, also confirm with your outsource staff that they understand the overview and the individual components of your WBS and give them the opportunity to ask questions. It is never helpful to assume that they have it all under control. It is preferable that if any questions or problems arise they do so before the project has even started.

An example of a WBS is if one of your milestones is submission of the first draft of chapter one of a book someone is ghostwriting for you. You would then break that down into its smaller steps, like research, outlining, and writing. These steps would then, in turn, be broken down into even smaller steps, like types of research, verification of facts, and so on.

For each low-level task, estimate time needed for completion, start and end dates, human resources required, and in what order each task should be completed. Obviously, facts can’t be verified until the research is done but you get the gist.

If you have the knowledge and background to begin a WBS during the planning stages for your project, please do so. Regardless of whether or not you’ve already started the WBS, work with your provider to nail down the details and finalize the breakdown.

A well thought out Work Breakdown Structure is of immense help to any project, small or large. It enables your freelance staff to work with confidence and it enables you to know that your outsourcers can carry out the work competently. A good Work breakdown Structure will also minimize hiccups, saving time, money and energy.

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Potential Cost Savings Associated With Legal Outsourcing

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“How much can I save?” “What is the cost of legal work done offshore?” “Please give me a quote for 100 hours per month for legal work done in India.” “What is your hourly rate?” “How much do you charge for ______?” These are the questions and requests directed my way at the beginning of conversation when someone contacts me about sending certain legal tasks offshore for completion.

Regularly I advise potential clients that the first question to be asked, either of a lawyer or someone potentially assisting in the outsourcing of a legal project, is not “how much?” Instead, at the outset, determination should be made whether those who would work on the project have the skills, training and experience to complete the assignment(s) in a quality fashion. This necessarily involves a clear delineation of the proposed undertaking and the expectations of the outsourcer. Further, what are the assurances of confidentiality? Can the time deadline for completion be met? What about conflicts of interest? These questions should be asked of every U.S. lawyer whose services might be retained. Likewise, they should be asked of every person or entity involved in outsourcing legal assignments. It should be noted that offshore lawyers are not licensed in the U.S. and do not provide “legal services” or advice. Foreign attorneys, working offshore, complete assignments under the supervision and review of qualified U.S. attorneys in generally the same manner as paralegals, summer law clerks or junior associates in the U.S. Indeed, the Code of Professional Conduct requires such supervision.

Cost savings achievable from outsourcing, however, seems to be the burning issue of the day. Large law firms, in particular, are looking for ways of cutting costs to maintain profitability or to even survive in challenging economic times. Dan DiPietro, client head of Law Firm Group of the Citi Private Bank, offered Storm Warnings (American Lawyer, Dec 2007) in observing “for the first time since 2001, expense growth actually outpaced that of revenue from January through June, depressing profit margins.” Sounding an ominous note, DiPietro observed that the biggest expense increases were in associate salaries and in occupancy and technology costs. His warning proved prophetic, as a number of old-line law firms closed their doors in 2008 including Heller Ehrman, Thelen LLP, and Thacher, Proffitt & Wood. Other large law firms are reducing staff and lawyers, including de-equitizing partners. Corporate clients are cutting the number of outside firms they engage, while pushing them to become more efficient. It is becoming increasingly apparent that difficult decisions are on the horizon for many law firms and their clients. Law firms want to retain their rainmakers, secure the best legal talent available and keep their profits per partner high. Clients want their overall costs for outside counsel reduced. How will these issues be addressed, particularly in a difficult economic climate? Outsourcing is one way of potentially confronting the challenges. Thus, the question, how much can I save?

Assuming the proper initial inquires have been made and adequately addressed, what are the cost savings reasonably attainable by an outsourcing U.S. law firm and its clients? Answering that question necessarily involves a comparative analysis of revenue and expenses. Suppose a large U.S. law firm wishes to consider outsourcing work that might otherwise be performed by one U.S. associate working exclusively for one of the law firm’s corporate clients. The junior associate bills 2000 hours annually at the lawyer’s hourly billable rate of $200.00, for a total annual cost to the corporate client (and income to the law firm) of $400,000. The law firm’s expenses chargeable against the income produced by its associate include the lawyer’s base salary ($160,000) and bonus (say $20,000) plus the associate’s share of overhead expenses for occupancy, support staff, benefits, marketing, recruitment, technology and other expenses. In its 2006 survey, Altman Weil, the well-regarded legal consulting firm, estimated average annual law firm expense per lawyer at $161,893. (Doubtless those expenses have increased since 2006, but, for the purposes of conservatism, we will use Altman’s 2006 number in our example.) Altman’s breakdown included promotion ($7,136), reference ($4,655), equipment ($9,299), occupancy ($25,879), staff ($55,147), paralegal ($17,911) and “other”($41,866). In the Altman survey, “other” includes malpractice insurance premiums and settlements, payments to former partners, recruiting costs, and other expenses not shown separately. Adding the associate’s share of expenses ($161,893) to the associate’s total earnings ($180,000) it is apparent that it costs the law firm a total of $341,893 to produce $400,000 in associate income. Let’s call it a $60,000 law firm profit attributable to the associate’s efforts. Put in other terms, it costs the law firm $171 per billable hour of the associate’s time to produce $60,000 of profit.

Now, assume the same 2000 hours were produced offshore at a cost of, say, $75 per hour instead of $171 per hour. (Higher end outsourced work such as legal research or writing might cost in the range of $75.00 per hour, while other kinds of work such as document review would likely be less. For purposes of our analysis, we estimate the overall offshore costs toward the higher end.) The actual cost to the law firm for 2000 offshore hours at $75 per hour would be $150,000 instead of $341,892. Further, the law firm’s client could be billed, say $240,000, for this work instead of $400,000. (Recent bar association ethics advisory opinions allow for a reasonable supervisory fee by the law firm, providing the client is advised of the off shoring and the Code of Professional Conduct, particularly Rule 1.5, is followed). The client would happily achieve a savings of 40%, while the law firm’s profit would also likely increase. Moreover, the law firm would require fewer associates at the ever-escalating salary structure (now starting at $160,000 base) for lawyers from top tier law schools. Because of overall lower costs and a fewer number of new associate hires, the firm would be able to more effectively compete for a reduced number of premier U.S. attorneys it decides to hire. Over time, partner equity and distributions would be shared with a fewer number of individuals. Thus, an outsourcing program for selected legal assignments, carefully implemented and supervised, can potentially result in greater client satisfaction and retention as well as enhanced law firm profitability.

In 2007 Mayer Brown, a 1500 lawyer Chicago based law firm, purged 45 equity partners. While denying any sort of crisis, James Holzhauer, chairman of the firm, commented on the move: “It’s necessary to manage a law firm like you manage any kind of big business and make sure you have the right staffing going forward.” Outsourcing, seen by some law firms as the enemy of law firm profits, may in fact be the opposite. Without doubt, even if some law firms are reluctant to change the traditional ways, their clients are not. In August of 2007 Bloomberg.com observed that “clients are pushing firms like Jones Day and Kirkland & Ellis to send basic legal tasks to India.” It is significant that this “push” came well before the global financial collapse of the last quarter of 2008. Regarding law firms, Holzhauer cautioned in March of 2007: “This (law business) is to a certain extent a fragile business. Our greatest asset is our people. If you’re not economically strong so that you can retain your best people and attract other strong people from elsewhere, a fragile business can have problems.”

Corporate clients are on a mission to reduce legal costs. Some of those clients would prefer to supervise the outsourced work in house, while others apparently are content with their chosen outside U.S. counsel overseeing the offshore work. Irrespective, legal outsourcing is on the table for consideration of cost control. “How much can I save?” is a question being asked by those who, a few short years ago, never imagined entertaining the concept of legal assignments being completed offshore.

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ICT Outsourcing Definitions and Types

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ICT outsourcing can be said as one of the current trends for companies around the world to do their business processes. It is estimated that ICT outsourcing starts in the early 1990s where Kodak uses external partner to handle its ICT resources. As Kodak does not have the expertise in ICT, they hire another company to help them handle the ICT resources. This phenomenon occurs because companies would like to concentrate their core business functions among other benefits. After merely 20 years, outsourcing is now needed by a lot of companies mostly at customer support and also back-office processes and this affects Malaysia as well. Currently, Malaysia is known as a main outsourcing hub for the world, where it is currently ranked third globally behind China and India in the outsourcing industry. This shows how significant outsourcing is to developing countries in Asia.

Outsourcing Definition

Outsourcing is defined as a concept of contracting out part of the organization’s business process to a third party that has the specific skills and services. The third party must have the skills needed by the organization so that the outcome of the outsourced job is as expected. Outsourcing can also be explained as the movement of one or many business functions of a company including its assets to an outside service provider who gives a defined service for an agreed duration of time and payment on a written agreement.

From these two definitions, we can see that outsourcing can be defined with the following characteristics:

1. A company transferring one or many business process to a third party.

2. A third party has the skills and services required for the business process.

3. Has an agreement or contract between the two parties on the price and expected outcome.

Types of Outsourcing

Outsourcing can be separated into two types, namely total outsourcing and selective outsourcing.

The first one is total outsourcing, where the IT budget being used to pay the external vendors is approximately 80% or more than the total. For outsourcing activities that only took less than 80% from the total IT budget, it will be called as selective outsourcing. It is named as ‘selective’ because the company will select only one or several IT functions to be outsourced to a third party.

Aside from these two main outsourcing types, there are also other types of outsourcing that are usually the sub-division from these two main types like insourcing and transitional outsourcing.

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Medical Transcription Outsourcing – The Great Advantages

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If you haven’t started outsourcing your medical transcription work, it may be time you start considering this option. This process includes taken information that is dictated and putting it into a text format so the information can be put into records for patients. You’ll actually find that there are many advantages to going with medical transcription outsourcing. Here is a look at a few of these advantages that your medical facility will appreciate.

One of the main advantages to going with medical transcription outsourcing is the time that you will save. There are many types of reports that must be done in clinics and hospitals, such as consultation notes, discharge summaries, physical reports, lab reports, and more. Having to take care of these files on your own can take a lot of time. Instead of doing this in-house, you can simply send files to a transcription company and once they are transcribed they can be sent back via the web. Outsourcing gives medical facilities the ability to focus more on core activities that are important, such as patient care.

High end security is yet another of the benefits of going with medical transcription. When you send these files to the company, they are sent securely on the web. Then they are transcribed into a format like HTML, ASCII forma, MS Word, or other formats. Then the files are going to be returned through a process that is password protected so only those who are authorized are able to access these files.

When you choose a company to take care of this for you, you can be assured that the transcriptionists working on your projects are highly skilled in the profession and they have a good understanding of the rules for producing these records. Transcriptionists that understand the terminology helps to ensure that your reports are done error free.

Of course, the cost is definitely a big advantage that you’ll enjoy when you go with medical transcription outsourcing. There are many companies that provide you with low cost outsourcing, which can save your medical facility a lot of money. Instead of trying to take care of transcription within your facility, hiring the work out can save money and ensure you get your records completed as quickly as possible.

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How to Succeed With Business Process Outsourcing (BPO)?

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As outsourcing becomes an indispensable part of corporate business strategy, especially during economic downturns, BPO (Business Process Outsourcing) has emerged as an important driver of IT Enabled Services. In very recent years, it has progressed from being considered for limited peripheral activities to encompassing very critical business activities that contribute to strategic advantage.

Though traditionally cost reduction has been the key driver for all outsourcing activities, other drivers such as speed of development, flexibility, expert skills and political maneuvering are equally important, if not more.

To succeed with Business Process Outsourcing (BPO), you must first research and determine if outsourcing should be pursued at all – an initial understanding of the expected size and nature of the deal is a must at this stage. This phase is known as the Assess phase as the involved parties try and establish senior stakeholder expectations at this stage. At the end of this phase, stakeholders should have clarity on the expected benefits, costs and risks of the potential engagement.

Next comes the Prepare phase which encompasses the vendor selection process. More often than not, organisations roll out RFPs (Request for Proposal) documents to find the right outsourcing partner. Fundamental elements of all other phases are defined and agreed upon in this Phase.

Evaluate phase is the third stage of the outsourcing lifecycle and it focuses on structured and thorough evaluation of the proposals received from vendors. At the end of this phase, you should be able to negotiate with selected vendors.

This phase paves the way for the Commit phase which is essentially the pre-contract stage. The Commit phase is by far the most resource intensive and commercially crucial phase as the deal design is finalized and the transition plan is developed in this phase.

Next comes phase 5 which is the Transition and Transform phase. In this phase, a robust transition plan is implemented. In addition, a reporting mechanism is also brought in place at this stage of the outsourcing lifecycle.

The Optimise phase, which comes next, focuses on managing the vendor relationship efficiently, tracking the vendor fees against the original proposal and monitoring contractual obligations. In principal, this phase is an ongoing one until the contract is renewed, renegotiated or exited.

When implemented properly, outsourcing contracts are likely to bestow immense benefits on organisations. No wonder that BPO is seen as a disruptive force that has huge impact on the cost-structure of nearly any industry and that is why it is not easy for organisations to ignore it. The hype around BPO may subside soon, but the business advantages that come with it are here to say as it enables many enterprises to succeed.

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Payroll Outsourcing

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Payroll outsourcing is a very common and growing practice these days. Payroll is an important business function that deals with the process of paying employees for services rendered. Payroll outsourcing can be defined as the accomplishment of a payroll task by some external agency. There are many reasons why companies outsource payroll, but the most prominent benefit lies in the fact that it often saves money. Basic payroll outsourcing services include calculating paycheck and tax obligations for each employee, printing and delivering checks, and providing management reports.

Every business owner knows that handling payroll can be a headache. Preparing payroll internally can cost valuable hours of employee time every pay period, and require expensive accounting software and training. Besides, the person handling payroll of an organization internally needs to keep up to date with changes in personnel, deadlines, and tax requirements on an ongoing basis. Payroll outsourcing is an affordable way to take away these burdens, because it is a time-saving and cost-effective alternative to internal payroll processing.

Payroll actually commences with the worker signing up with a company. A typical payroll report contains items such as gross hourly wages and gross salaries, bonus payments including stock given as a bonus, overtime pay, severance pay, per diem and travel allowance, and contributions to deferred compensation by employees.

Today, payroll outsourcing is a vital part of an organization’s payroll and benefits functions. This will improve employee satisfaction and enable the organization to focus its assets on mission-critical areas. The market for payroll outsourcing services is competitive and there are a number of key points, such as speed, accuracy and ease of use, to consider when opting to use a payroll company.

Though payroll outsourcing may prove highly valuable for many organizations, it also has many drawbacks. It is essential that every company precisely assess its requirements to determine if outsourcing is a feasible alternative.

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Why Hire an SEO Content Outsourcing Firm?

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Every small and big company has a website today. A website has all the information about the products and services a specific company has to offer. Websites make the selection process easy for the customers. But what if the customers are not able to access or find the website? This can ruin the company’s business, bringing in losses. Exposure can really help a company sail through.

There are some major elements which can be added to a website to make it more popular, user-friendly and search engine friendly. These elements include the right animation, pictures, colors and content. Content is one of the most important elements of a website. SEO based content can bring in amazing results. A good SEO content outsourcing firm can help you earn more money. Along with this, it can:

· Help in search engine optimization of your website

The search engine optimization process depends on the website’s content to a great extent. An SEO content outsourcing firm can make your website’s content rich and interesting. Along with this, its experts put a lot of relevant content in the website to make it search engine friendly. SEO content writing also includes producing keyword rich content which helps in the link building campaigns. The usage of latest keywords related to your products and services can help search engines read your website’s content more often. This will make the search engines display your company’s website in the first few search results when a user types in a related keyword.

· Help in link building campaigns

The SEO content writing firms offer an array of services today. These services include SEO content writing as well as article writing. The latter basically helps a website get more exposure. The articles written by the experts of these companies are submitted on various article submission websites. This helps in the process of your website’s link building. Article writing services can help your website receive more traffic which can ultimately help you get more customers.

· Help people to know your company better

A good SEO content outsourcing firm can help people understand your company better. The website content and company related articles can be used to express your mission and vision. You can even use these platforms to share the background of your company. All these things may help the customers connect with your company.

SEO content writing and article writing services can help you earn people’s trust. They can bring in huge traffic, high conversion rate and many other benefits. You can use these services to set up your company’s rapport and to make it even more popular internationally. So, hire an established SEO content outsourcing company and gear up to earn the profits!

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Things to Consider When Outsourcing Support Functions of Your Organization

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Outsourcing is defined as hiring a third party provider to take care of certain non-core areas of business like technical support and customer care support. By outsourcing support functions of a company, one can save on a lot of skilled manpower that can be used to develop core areas like business development while at the same time cutting costs by outsourcing without compromising on the standards of excellence of the company. Technical support and customer care support are the two main areas where large companies or even relatively new startups outsource.

Usually, technical or IT support is outsourced to other countries to cut costs. This can prove beneficial to the company in the perspective of a long term contract. But at the same time, this requires a lot of careful planning and research. Some of the main points to be bare in mind while outsourcing these tasks are outlined briefly below.

In the extremely competitive business environment of today’s world, outsourcing supportt especially customer support is a crucial factor in determining the position of a company among its peers. While outsourcing customer support services to a service provider, one should always research the credentials and client history of the company. This gives a fair idea of the company’s standing and what you can expect from it. Also, one needs to determine whether the company holds regular accent training classes to make its employees familiar with the language they are required to speak in.

Outsourcing support of the technical kind is a very lucrative option for companies since many countries offer highly skilled technical expertise which can be utilized to further the company’s prospects in a global environment. But you should always do a thorough background search on the level of competence in technical areas of a business and the best way to do it is to visit the place personally and get a first hand account of the way things are done. Also, one can ask the service providers to complete a few projects on a trial basis and a fair judgement of the service can be done to analyze their potential.

Before outsourcing support of any business process the first factor to be considered is whether it is a viable option for the company. Sometimes, certain companies spend more on outsourcing than on the core areas of the business like business development. A detailed analysis of the company should be done and after considering the various risk factors and the benefits, a final decision should be taken in the light of the company’s future plans.

Another point to be taken into account is the commitment of the service provider in executing the projects in time. There is a difference in the time between any two countries which could lead to a lot of confusion in the setting of the deadlines. The company should have a strict policy in case of assignments submitted late or projects not done satisfactorily. If all factors are kept in mind, then the company can have a very lucrative future due to outsourcing support.

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TPF Outsourcing – What Does It Mean And Why Are More Businesses Doing It

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When was the last time that your made a major purchase or even a small purchase for that matter? Do you remember what took up most of the businesses actual man hour time when you made the purchase? If you stop to think about for a moment, it was when you were completing the transaction or paying for what you were purchasing that occupied the most amount of time of the person or business that you were dealing with.

TPF – Transaction Processing Facility

TPF stands for “transaction processing facility” and this, in simple terms means anywhere in a business where the actual money and paper work is changing hands. This, in most businesses that you visit on a daily basis would be the main focal point of their operation many times. It is the “front office” or the “check out counter”.

It All Makes perfect Sense

TPF outsourcing is the means by which a business hands the responsibilities of this mundane task to a source that is outside of the main business operation. If you stop to think about it, it makes perfect sense, because once a customer or client has made the decision to patronize an establishment, the job of the business should then shift to finding more customers or clients and also servicing the customers or clients that are active.

TPF Outsourcing for the Travel Industry

The travel industry is one area where TPF outsourcing has began to take hold in a big way for a number of reasons. One of the big reasons this is so, is because unlike other business where the customer or client leaves after they have made a purchase. In the travel industry the client has to be dealt with after the purchase is made. In simple terms TPF outsourcing in the travel industry frees up the businesses to fly the planes instead of manning the ticket counters.

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