Digital Transformation in Finance

In the age of smartphones and the internet, it is only inevitable that the demand for digital transformation has reached the financial sector.  

Experts believe that digital transformation, which is the process of utilizing digital technologies to create digital business models and support, is critical to the success and longevity of any business, including those in the finance world. 

There is a growing need and expectations for business models and processes in finance to align with technology. Digital transformation provides value to customers and employees, who are both increasingly dependent on digital technologies in their everyday lives. 

Some of the known benefits of digital transformation include:

• Improvement of customer services and experience
• Recognize new business opportunities
• Optimizing data collection to determine customer behavior
• Discovering technological opportunities to meet company objectives

No-Code Development’s Role in Digital Transformation

As brilliant as digital transformation may sound, the finance sector won’t be able to integrate it at a snap-of- a-finger. Serious barriers and risks will get in the way of adopting digital transformation in many financial organizations. 

Some challenges the finance world is facing is the lack of resources, time, and talent to jumpstart a complete digital revision. Companies need to allocate a large budget for software development and implementation. Even if companies have the budget, they may still need to find experienced developers to create robust applications and programs.  

No-code development is a type of technology that enables non-programmer employees to build computer software without a formal background in coding and other related technical abilities. This makes app-building accessible to the ordinary folk by providing graphical user interfaces and user-friendly tools. 

The no-code solution promotes creativity and removes the technical barriers that stop technological advancements in finance. No-code solutions can unlock human capital with fintech. It not only aids digital transformation, but also accelerates the entire process.

How to Utilize No-Code Development

In terms of no-code development in finance, there is no “hat that fits all”. Thus, it is important for finance companies consider the following arguments:

1. Strategy first 

Companies in the finance sector should create a sound strategy before implementing no-code development. There are now many types of no-code platforms to choose from. Businesses should pick a no-code platform that aligns with their company goals and suits their resources and current talent pool.  

Many banks and financial institutions use no-code development to meet specific digital objectives such as:

•  building of software programs
•  integrating systems
•  updating applications
•  automating workflows, 
•  creating mobile applications that serve customers. 

Objectives vary from company to company, therefore, managers must first set the general strategy for digital transformation before venturing into no-code development. 

2. No – code may not always be the solution.

Before going all into no-code systems, it is smart for businesses in finance to also look into other means of digital solutions. One of these is low-code development. 

Low-code development is also a software development technology that may also use visual (drag-and-drop) or graphical user interfaces. However, low-code aims for faster or more productive software development. This solution comes with coding or scripting options so it is ideal for users with some coding or developer background. 

Low-code development makes application building faster and more efficient, making it more suitable for organizations with a well-established developer team. With this solution, non-IT personnel can execute routine tasks such as integrating data and automating business processes.

3. Consider Trends

Businesses do not always have to jump on the bandwagon with everyone else to keep up with the trends. However, it is worth keeping an eye on digital trends in the finance industry as they reflect the demands and expectations of customers.

Digital transformation trends also indicate the types of no-code solutions are available to businesses. 

The trends in digital transformation in finance include:

• Online registrations and applications such as loans, memberships, and payments.
• Customer interactions through mobile apps 
• Web chats and chatbots
• The omnichannel approach to offering customer services 

Businesses may use these trends to gauge the effectiveness of their current services and processes. By evaluating trends, management may find opportunities to strengthen their digital systems and solutions and exploit the potential of no-code development. 

4. Mitigate risks and challenges associated with no-code development

As mentioned, integrating no-code development in finance takes careful planning. The finance sector comes with its own risks when embracing new technological advancements. Some of these risks are relatively more serious compared to other industries. 

Businesses in finance adhere to comparatively stricter rules and regulations as they handle a tremendous amount of data and financial resources. Consequently, introducing new technology, especially ones that break traditional approaches, is often riskier. 

Finance organizations must integrate no – code development without causing compliance risks and issues. For example, banks should still be able to protect customers’ card information even if they introduce applications made on a no-code development platform. 

5. No-code development takes time, talent, and resources. 

No-code development involves offering tools to non-professions, but using this technology does not mean that zero technical skills are required. Despite having visual modeling interfaces, no-code solutions still need a degree of technical expertise and training from users. 

Finance companies should still be prepared to offer the training, guidance, and tools to non-IT employees who will take on no-code systems.  

It is also important to realize that not everyone in the company can be a developer. The management should be able to identify individuals who have the interest, base knowledge, and skills to become part of the no-code development team. 

Don’t get left out! We have more technology and business articles waiting for you to explore. 

To a beginner, SEO could seem quite complicated. However, for experienced specialists, SEO could be rather simple and easily offered and has learnt a great technique to constantly obtain final results. These techniques feature on-page as well as off-page optimisation.

On-page Search Engine Optimization concentrates much more on evaluating the site’s possible to optimise quickly. Page headlines, headings, on-page keywords, Meta tags and summarisations are a site’s aspects that should be examined and altered if required.

In truth, there remain many online devices to evaluate these specifications keeping that could be utilised totally free. Recognising and utilising these devices is a benefit for Search Engine Optimization results.

1. Top quality article composing – This is a usual method among professional SEO specialists. The important thing is, that this work is typically mistreated. Numerous are junking the website with unrelated information. Some of the techniques utilised are to develop one distinct short article after just computerising it, utilising a software application to generate thousands of special rewrites that are then provided to numerous networks like article submitting sites, blog properties, article directories and social media networks.
2. Directory distribution – Online directory sites function a lot like a telephone directory. It is a checklist of sites located in one position on the web. There are localised directory sites and basic ones. There are free and paid directory sites on the internet. Most regional directory sites, the ones intended by best local seo citation service, are paid yet can offer the website much better reliability. Believe that when you get a site for your service, it is reasonable to get your service noted on the local web directory.
3. Creating utilisation of social networks – There is a great volume of communication between individuals on social network sites that search terms online and have outcomes. Several SEO firms are now utilising social media networks to contact their consumers for greater web traffic, ultimately increasing ratings on the SERPs.

These are simply some techniques that could be integrated into your SEO technique. There are also others which might aid quicker indexing, such as social bookmarking, RSS submission and also pinging. Composing press launches and distributing videos work very well also.

It is simple to identify people who are great with Search Engine Optimization writing these days. And even web solution businesses could offer businesses with these. The SEO Brisbane company also offer packages in which articles may be offered together with the SEO solutions.

The service owner could decide to employ a writer for their elements and outsource SEO services from a skilled company. Or they could simply obtain the package in which everything can be offered by a web service firm. So long as the short articles are developed to become SEO-friendly, and the techniques are executed properly, the online company will surely obtain the desired results. It is simply essential for business owners to employ the best efficient specialists around to obtain the greatest results for their service.

Nederland Lotto Jackpot op Zaterdag 13 Augustus 2022.

Zie resultaat hieronder:

……

Volgende jackpot is 2, 500, 000

Tips voor het winnen van de loterij

Hier zijn acht handige suggesties om uw loterijwinstkansen te vergroten

Koop meer kaartjes. Maar je zult meer geld uitgeven en misschien win je er nog steeds niets van. Maar minstens 10 kansen om te winnen zijn natuurlijk groter dan slechts 1 kans van 10. En waar je zeker van kunt zijn, is dat als een van hen wint, je je geld terugkrijgt.

Vorm een ​​loterijsyndicaat of -groep waarin jullie allemaal als één spelen. Dit betekent dat u meer loten en lotnummers krijgt, wat zal resulteren in een hogere winkans. Stel je voor dat je een groep van 100 mensen hebt die elk 10 tickets kopen, dat zijn 1000 tickets, 1000 kansen om te winnen. MAAR pas op met dit idee, want mensen zijn niet betrouwbaar. De uiteindelijke winnaar van de loterij kan jullie allemaal verraden. Sluit je dus alleen aan bij groepen met mensen die je kunt vertrouwen met je leven. En ook als je wint, verraad anderen dan niet.

Kies geen opeenvolgende nummers. Stel dat je een loterij speelt met vijf winnende nummers en je hebt tot nummer 55 om uit te kiezen. Het totale aantal moet tussen de 104 en 176 liggen. Volgens studies valt ongeveer 70% van de loterijwinsten in deze categorie.

Kies geen nummer dat in dezelfde nummergroep valt of eindigt met een vergelijkbaar cijfer. Hoewel, er is een mogelijkheid dat je wint, maar de kans is erg laag.

Zoek naar meer impopulaire spellen die op vreemde tijden worden gespeeld. Ga niet voor loterijspellen die altijd een winnaar hebben, probeer andere impopulaire spellen te verkennen. Hoogstwaarschijnlijk zullen mensen allemaal naar dat loterijspel gaan, dus je kans om te winnen is kleiner. Ga naar de minder populaire, met een mindere speler, dus je kans om te winnen is groter.

Sommige mensen hebben de neiging om lotto te spelen op basis van het nummer van hun verjaardag of de verjaardag van een familielid. Als dit gebeurt, krijgt u meestal meer cijfers van 1 tot 31, omdat dit overeenkomt met de dagen in de kalendermethode. Als u getallen boven de 31 kiest, vergroot dit uw kans om te winnen mogelijk niet, maar het kan uw kans vergroten dat u de prijs met niemand deelt.

Houd er rekening mee dat elk nummer in de loterij een gelijke kans heeft om als winnend nummer te worden gekozen. Er is geen software die het exacte winnende nummer kan voorspellen. Maar je kunt je kans vergroten dat je de jackpotprijs niet deelt als je het niet zo vaak voorkomende getal gebruikt.

Speel de juiste spellen. Er zijn veel soorten loterijspellen die je kunt spelen. Als u deelneemt aan de nationale loterijtrekking, is er een veel groter aantal pools in vergelijking met een lokale of staatsloterij. Bij een lokale loterij is de kans om te winnen groter dan bij een landelijke loterij.

Next DAILY LOTTO jackpot is estimated at R480,000! 

We will always provide you with the winning numbers, so while you wait, bookmark this page so you can easily find the daily lotto result when it’s out.

Today’s lotto winning numbers

Here are the DrawResults & Payouts for (10/08/22):

#DAILYLOTTO: 01, 06, 08, 13, 17

Daily Lotto results close at 20:30 on the day of the draw. The terms and conditions for other lotto services vary – please read them when you sign up for these services.

How to play daily lotto 

When buying daily lotto tickets online, there might be an additional charge. Always check the terms and conditions.

Winners are to note that if numbers published are different from the number in the original national lottery database, the number in the national lottery database will prevail.

Tips on How to Win the Lottery

Buy more tickets. But you’ll spend more money and you may still not win any of them. But at least 10 chances of winning is obviously greater than just 1 chance by 10. And what you can be certain of is that if any of them wins, you’ll recover your money back.

Form a lottery syndicate or group where you all play as one. This means you get more tickets and lottery numbers which will result to a higher chances of winning. Imagine having a group of 100 people who buy 10 tickets each, that’s 1000 tickets, 1000 chances of winning. BUT be careful with this idea, as people are not trust worthy. The eventual winner of the lottery may betray all of you. So only join groups with people you can trust with your life. And also if you win, don’t betray others.

Don’t choose consecutive numbers. For example, suppose you’re playing a lottery with five winning numbers and you have till number 55 to choose from. The total number must be between 104 and 176. According to studies, approximately 70% of lottery winnings fall into this category.

Don’t choose a number that falls in the same number group or ending with a similar digit. Although, there is a possibility that you may win, but the probability is very low.

Look for more unpopular games played at odd times. Don’t go for lottery games that always have a winner try to explore other unpopular games. Most likely, people will all go to that lottery game, so your chance of winning is lesser. Go to the less popular, with lesser game player, so your odd of winning is higher.

Some people tend to play lotto based from the numbers of their birthday, or the birthday of a family member. If this happens, you will usually get more numbers from 1 to 31, as this corresponds to the days in the calendar method. If you choose numbers above 31, this may not increase your chance of winning but it can boost your probability of not sharing the prize with anyone.

Keep in mind that every number in the lottery has an equal probability of being chosen as the winning number. There is no software that could predict the exact winning number. But you can increase your chance of not splitting the jackpot price if you use the not so common number.

Play the right games. There are many kinds of lottery games that you could play. If you join the national lottery draw, there is much broader number pool as compared with a local or state lottery. In a local lottery, the odd of winning is higher compared with a nationwide lottery.

Fortinet (NASDAQ: FTNT), a global leader in broad, integrated, and automated cybersecurity solutions, today announced the FortiGate 4800F series of hyperscale firewalls, which sets new standards for security, scale, performance, and innovation to meet the requirements of hyperscale customers and 5G mobile network operators (MNOs). Powered by 16 of Fortinet’s seventh generation network processors (NP7), FortiGate 4800F offers the highest performance figures of any compact firewall, with Security Compute Ratings that deliver up to 34x better performance than competitor solutions, including the ability to support an average of 19x more connections per second.

John Maddison, EVP of Products and CMO at Fortinet
John Maddison, EVP of Products and CMO at Fortinet said, “No other firewall is better suited to support hyperscale and 5G. Not only is FortiGate 4800F the industry’s fastest compact hyperscale firewall, with 2.4 Tbps of capacity, but it is also the only 4RU chassis on the market that includes 400GbE, 200GbE, and 50GbE ports, which allows hyperscale customers and mobile network operators to seamlessly scale their business without disrupting operations. The combination of performance and scalability packed into our latest firewall will help future-proof organizations’ investments in hyperscale data centers, especially with the rise of 5G and as the volume and velocity of data continues to accelerate at an unprecedented pace.”

Large enterprises and MNOs are in the continual pursuit of doing more with less. When it comes to firewalls, higher performance in a smaller footprint means security becomes an enabler for 5G adoption, allowing mobile providers to deliver new use cases for enterprises and critical industries and infrastructure. It also ensures enterprise customers such as high-velocity e-retail, cutting-edge research facilities, financial institutions, and cloud providers have access to the performance, scalability, and security they need to meet escalating business needs. Reduced costs for space, cooling, and power are additional benefits to achieving higher performance in a smaller form factor.

With these outcomes in mind, Fortinet’s dedication to pushing the boundaries of what is possible in security performance has yielded the most powerful compact firewall yet: the FortiGate 4800F. With a 4RU chassis and 400GbE, 200GbE, and 50GbE interfaces, this latest model of Fortinet’s flagship line of firewalls enables MNOs to secure 5G networks with the following capabilities:

• Accelerates 5G adoption with secure IP connectivity and support for 19x more connections per second: 5G enables massive machine-to-machine communications that require secure IP connectivity to untrusted environments such as the internet, edge sites, and the cloud. The FortiGate 4800F enables MNOs to secure massive scale and performance for IP connectivity to external networks and domains with massive carrier-grade NAT (CGNAT) performance and hardware logging. To build capacity that meets the needs of today and the future, FortiGate 4800F supports 25 million connections per second to give MNOs the capacity they need to handle surges in traffic and large sustained loads of subscriber connections. Enterprises with ultra-performance needs can converge multiple firewalls into a single unified system, host on-premises applications, and deliver the required user experience.

• Secures 5G radio access network (RAN) traffic and core connectivity with 19x faster IPsec VPN performance: With the increased scale of 5G radio and the sharing of RAN between operators to reduce costs, the FortiGate 4800F provides a cost-effective security gateway (SecGW or SEG) to handle 5G’s RAN scalability and security requirements for both user and control planes.

FortiGate 4800F also delivers hyperscale security for hyperscale data centers with the following capabilities:

• Enables 400G ultra-fast data center interconnect: With 400GbE ports in a compact 4RU form factor, FortiGate 4800F enables organizations to connect and replicate data securely with ultra-fast elephant flows, while ensuring privacy and confidentiality to guarantee that all data and services are delivered close to the customers and partners. Enterprises with ultra-performance needs can converge multiple firewalls into a single unified system, host on-premises applications, and deliver the required user experience. In April 2021, Fortinet became the first vendor to deliver 400GbE ports on a hyperscale firewall via FortiGate 7121F, followed by the FortiGate 3700F in May 2022. FortiGate 4800F continues Fortinet’s legacy as the only vendor delivering 400GbE interfaces on a hyperscale firewall to support the most intensive hyperscale use cases.

• Removes blind spots with 6x faster SSL inspection: With as much as 95% of today’s traffic being encrypted, SSL-inspection has become critical to properly secure the network. While encrypted paths are meant to make traffic more secure, they also let bad actors hide malicious activity. To allow all encrypted traffic to be inspected while keeping up with the speed of today’s networks, FortiGate 4800F offers the industry’s highest SSL-inspection performance as well as support for the industry’s latest TLS 1.3 standard. This also ensures network blind spots are eliminated by enabling full visibility of clear-text and encrypted network flows.

• Secures hybrid IT architectures with VXLAN segmentation: Digital acceleration is only possible with hybrid IT architectures that seamlessly connect and secure on-prem and cloud assets. The FortiGate 4800F enables massively scalable hardware-accelerated Virtual Extensible LAN (VXLAN) segmentation and allows super-fast communication between enormously scaled services, such as compute, storage, and applications that are co-hosted on physical and virtual platforms.

The entire FortiGate suite of next-generation and hyperscale firewalls supports organizations of all sizes with the following features:

• Enables 400G ultra-fast data center interconnect: With 400GbE ports in a compact 4RU form factor, FortiGate 4800F enables organizations to connect and replicate data securely with ultra-fast elephant flows, while ensuring privacy and confidentiality to guarantee that all data and services are delivered close to the customers and partners. Enterprises with ultra-performance needs can converge multiple firewalls into a single unified system, host on-premises applications, and deliver the required user experience. In April 2021, Fortinet became the first vendor to deliver 400GbE ports on a hyperscale firewall via FortiGate 7121F, followed by the FortiGate 3700F in May 2022. FortiGate 4800F continues Fortinet’s legacy as the only vendor delivering 400GbE interfaces on a hyperscale firewall to support the most intensive hyperscale use cases.

• Removes blind spots with 6x faster SSL inspection: With as much as 95% of today’s traffic being encrypted, SSL-inspection has become critical to properly secure the network. While encrypted paths are meant to make traffic more secure, they also let bad actors hide malicious activity. To allow all encrypted traffic to be inspected while keeping up with the speed of today’s networks, FortiGate 4800F offers the industry’s highest SSL-inspection performance as well as support for the industry’s latest TLS 1.3 standard. This also ensures network blind spots are eliminated by enabling full visibility of clear-text and encrypted network flows.

• Secures hybrid IT architectures with VXLAN segmentation: Digital acceleration is only possible with hybrid IT architectures that seamlessly connect and secure on-prem and cloud assets. The FortiGate 4800F enables massively scalable hardware-accelerated Virtual Extensible LAN (VXLAN) segmentation and allows super-fast communication between enormously scaled services, such as compute, storage, and applications that are co-hosted on physical and virtual platforms.

The entire FortiGate suite of next-generation and hyperscale firewalls supports organizations of all sizes with the following features:

• High-performance security at scale: FortiGuard AI-Powered Security Services deliver innovative real-time protection for known, zero-day and unknown threats, including IPS, DNS, AV, and inline sandbox, for datacenter edge and core deployments leveraging segmentation and more granular device (OT/IoT) as well as web and application security capabilities for comprehensive perimeter protection.

• Supports zero trust architectures with integrated universal ZTNA: FortiGate natively integrates universal zero trust network access (ZTNA) enforcement to support zero trust architectures. Setting up universal ZTNA with an on-prem or virtual FortiGate ensures that consistent policies and controls span across all operating environments, including across multiple clouds.

1. Non-SSD variant is available as well.
2. Performance with hyperscale license applied.
3. PAN: Calculated with 2xNC and 2xDPC cards.
4. Juniper: SRX5400E-B2.
5. Threat Protection includes FortiGuard Application Control, AI-Powered FortiGuard IPS, Anti-Virus, Logging and Sandbox security services.

SmartCrowd Holdings, a regional pioneer in fractional real estate investments, has been granted a FinTech experimental permit by the Saudi Capital Markets Authority (CMA). SmartCrowd is currently working on completing business requirements for the upcoming launch of its Real Estate Funds Distribution Platform, making alternative assets accessible to the general public within Saudi Arabia soon.

SmartCrowd CEO and Co-founder Siddiq Farid
Saudi Arabia’s residential real estate market is an immense untapped sector offering an excellent opportunity for regional and global investors, with forecasted market growth (CAGR) of more than 9.74% between 2022 – 2027.

Valued at SAR 156bn in 2021 (Source: Knight Frank), the real estate market is expected to grow significantly, in line with the country’s Vision 2030, the rapid pace of new developments, and the Kingdom’s ongoing efforts to diversify its economy away from reliance on oil and gas revenues.

Abdullah A. Al Othaim, CEO of Mad’a Investment, a Saudi-based firm and lead investor in SmartCrowd’s latest bridge round, said, “SmartCrowd’s expansion into Saudi Arabia provides an ideal opportunity for locals to diversify their portfolio and global investors to take advantage of the thriving Saudi real estate market.”

“The current global markets are facing major challenges. SmartCrowd provides an opportunity to diversify against uncertainty since the real estate market is the most favorable due to its simplicity and lower volatility.”

Yousef Albabtain, a Principal at Shorooq Partners, the UAE-based venture capital firm and early-stage investors in SmartCrowd, said, “We are proud to be part of SmartCrowd’s journey as the region’s first and most prominent real estate crowdfunding platform. The world-class experience SmartCrowd built has empowered thousands of investors to diversify their portfolios and generate compelling returns.”

“We believe the recent expansion into the Kingdom of Saudi Arabia represents a key milestone by the team to unlock the enormous potential in the largest MENA market. We are confident that SmartCrowd will play a vital role with all Saudi regulators and stakeholders to deliver greater financial prosperity to more individuals.”

Currently headquartered in Abu Dhabi as part of Hub71’s tech ecosystem, SmartCrowd’s expansion into Saudi Arabia aligns with its mission of making real estate investing more accessible to the masses by enabling individuals to invest in income-generating properties collectively.

Since its inception, the platform has funded over 75 properties worth over AED 65M, distributed over AED 3.2M in rental income, and recently exited an investment property with a total return of 39.25%, demonstrating a complete investment cycle. SmartCrowd is also one of the few wealth-tech platforms in the region that has generated tangible returns to its investors, making the product appealing to its users, as evidenced by its 65% reinvestment rate.

SmartCrowd CEO and Co-founder Siddiq Farid said, “With the newly granted Saudi permit, SmartCrowd has solidified its position as a major regional player. In line with increasing demand and investor appetite for diversified real estate opportunities, SmartCrowd will continue to introduce innovative products and enter new regional markets.”

SmartCrowd’s platform users are 80 percent UAE-based. The remaining 20 percent come from all over the world, even as far as New Zealand and Australia, and are using SmartCrowd to build a diversified real estate portfolio.

Having witnessed double-digit growth in both AUM and investors over the last two quarters, SmartCrowd will be raising fresh capital to finance its regional expansion.

The SmartCrowd mobile application, now available on iOS App Store and Google Play, makes real estate investments even simpler and more accessible.

Background Info
The Saudi government’s focus on the real estate sector, as a part of the diversification process of the economy, is anticipated to boost the domestic residential market in the coming years.

Saudi Arabia’s population is dominated by young middle-class people who are first-time home renters and buyers. Some 45% of the country’s population is below 20 years old.

As such, there is a significant housing shortage in the MENA region – especially in Saudi Arabia. The demand from expatriate renters has further intensified the housing shortage, with about 5.5 million expat workers in the country (which is expected to grow as Saudi Arabia opens up).

With younger Saudi nationals and expatriates displaying a preference for apartments and more affordable properties, the government is taking steps, such as incentivizing developers to build affordable housing projects, thereby encouraging banks to introduce more home financing options.

Increasing homeownership for Saudi Arabian nationals to 70% by 2030 is a key ambition for the Saudi Arabian housing ministry, which announced a plan to build approximately 19,500 residential units for its citizens under the ‘Sakani’ housing development program.

The Kingdom has even introduced a rental price index to increase transparency and regulation in the residential real estate sector. These initiatives are anticipated to increase homeownership rates and strengthen the residential real estate market throughout the country.

At the time of this writing, 51 173 people have signed a petition started by Lawrence Okoh to incubent President Muhammadu Buhari to ban Big Brother Naija from airing in Nigeria, stating immorality as the reason for creating the petition.

In the petition, he said “Big Brother Naija has become an avenue to spread immorality in our country. Nigerians must rise up to put an end to this cancerworm. ”

“We must continue to push until this programme is taken of the airwaves. Most annoying is that when you go to public places the waiters always insist on leaving the evil programme on forcing you to watch it else you find somewhere else to relax. ”

Many supporters of the petition left comments supporting the notion of the petition:

Emmy King said: “Big Brother Naija is no longer a programme but Pornographic show and it’s really bad for our children thanks.

Government should please BAN this atrocity as soon as possible”.

Another Daodu Lanre started a similar but not so popular petition with the following reasons:

“Big Brother Naija is satanic , it reduces the societal and family values.

Big Brother Naija increases the immorality act in the society.

Big Brother Naija show has promoted a fast decline of moral values in Nigeria homes and communities.

We do not need such program in Nigeria, we need programs of high intellectual and innovative capacity to develop our children and youth.”

At the same time, over 4000 supporters of the show have signed another petition asking Big Brother to Bring Back Beauty who was previosuly disqualified.

Live Score: Swallows vs Cape Town City.

SOUTH AFRICA: PREMIER LEAGUE – ROUND 2

Cloud migration isn’t a new concept in the IT sector since cloud technology brings users more flexibility and better performance.

Companies worldwide seem to have picked up on the trend as they started introducing various cloud computing services into their businesses. For example, on-premises and legacy infrastructures are heavily being replaced with the adoption of cloud technology, and there are no signs of cloud transformation slowing down anytime soon.

If you’re curious about cloud migration and want to learn more, you’re in the right place. Besides going through the vital migration steps you need to follow, we also covered the main benefits of moving to the cloud.

Keep reading to find out everything you need to know about this topic.

7 key steps to successful cloud migration

Switching to the cloud is a serious step that every business or organization must approach seriously. Here’s an application migration checklist that ensures you go through all the essential steps of the process.

1. Prepare for the Migration

First, you must assess whether your company is ready for the big move. That doesn’t only include inspecting the section you’re planning to move but examining your company as a whole.

This step is crucial because the move will undoubtedly affect the entire organization. You will probably need to educate your employees on using the new technology and optimize your business activities to work well with the new system.

Therefore, before you go any further, ensure your company is adequately prepared for cloud migration.

2. Define Your Cloud Architecture

Every business can move to the cloud for a different reason. When you ensure you’re ready for the move, it’s necessary to define the goals your company plans on achieving by transferring to cloud services.

Once you have a set of the goals you want to accomplish, it’ll be easier to define the exact cloud architecture you should go with.

From shallow and deep cloud integration to different available cloud environments, you can customize cloud technology to a great extent. Since so many options are available, defining your desired cloud architecture is essential to getting what you want from cloud migration.

3. Choose a Cloud Provider

Besides different cloud architectures and services, companies must also choose a solution enabler to provide them with cloud services. Handling the entire process of migration internally can be extremely overwhelming, which is why most companies decide to work with vendors that specialize in offering cloud services.

Your cloud provider should be your lifetime partner in maintaining and improving your cloud network. With that in mind, you should choose a provider that understands your company’s needs, goals, and priorities.

Working with the right cloud provider will ensure you get the best cloud technology, which can equip your business with countless benefits.

4. Calculate Cloud Migration Costs

Although migration to the cloud is an excellent move for any business, it’s a significant investment that requires a careful calculation of costs. The cost of cloud migration depends on numerous factors, including the services you’re planning to introduce, the provider you want to go with, and the size of your business.

Nevertheless, calculating cloud migration costs will allow you to outline and prepare a cloud migration budget required for the needed services. After you calculate the expected costs, you’ll be able to manage your finances and create a cloud migration plan you can afford and maintain in the future.

5. Create a Disaster Recovery Plan

Before you jump into implementing cloud technology within your company, creating a disaster recovery plan is essential. A proper disaster recovery plan contains clear and actionable guidelines with which you can mitigate potential threats and risks.

For instance, a good disaster recovery plan will contain a reliable risk assessment strategy that you can use to examine the level of risk your company is experiencing at specific periods. Furthermore, disaster recovery plans include a list of useful prevention tips and all response and recovery measures. Finally, the plans also need a list of employees responsible for executing the plan.

6. Execute the Migration

When the entire preparation for cloud migration is complete, it’s time to execute the migration and enjoy the numerous benefits of cloud services. Executing the migration means all the preparations are finally finished, and the real thing is happening.

Executing cloud migration can happen in two ways – you can choose to transfer all your activities and datasets at once, or you can slowly move your processes one by one.

Regardless of the approach, executing the migration will require you to be dedicated to the process if you want it to succeed.

7. Monitor and Adjust

Just because the process of cloud migration is complete doesn’t mean there’s nothing to think about or do in connection to the cloud.

In fact, cloud technology needs to be regularly monitored and adjusted if you want it to serve you in the best possible way. By keeping your cloud services optimized, you’ll ensure receiving the best outcomes over and over again.

Final Thoughts

Migration to the cloud is something all companies consider today. If you’re responsible for one of such companies, you’d surely like to know more about the entire process. By learning about the seven key steps to cloud migration, you’ll be able to secure a seamless transition for your employees, clients, and the company. 

Improving accounting processes and avoiding fraud involves internal controls that protect business assets and minimize risks. 

These internal controls enable you to achieve efficiency and adhere to policies that improve your business performance. Internal controls can be a detective or preventive measure. 

For example, having efficient accounting processes and proxies are preventive measures that ensure you transmit sensitive information safely in cyberspace. 

According to statistics, global cybercrime is expected to grow by 15%  every year for the next five years. The cost of cybercrime will also increase from $3 trillion to $10.5 trillion by 2025. 

That means businesses need to do what it takes to protect themselves against fraud. Internal controls enable business owners to mitigate risks as they work towards archiving their business objectives. 

Here are ways to improve your business’s accounting processes and avoid fraud.

Automate Accounting Processes

Introducing automated tools and workflows to your accounting processes will increase efficiency and reduce fraud. Implementing systems that have in-built vendors and leave a trail of payment records makes oversight easy. 

Such systems make it possible to see adjustments to vendors or payments that employees make. This makes the accounting network safe and reduces the possibility of anyone sending fake bills to stakeholders. 

It also reduces the chances of expense-reimbursement fraud, which usually takes businesses upto two years before detection.

Review Bank Statement Regularly

Financial statements are one of the most common forms of accounting fraud. The fraud causes a median loss of about $1 000 000. That’s why it’s essential to regularly review bank statements and check to see if there are any unauthorized credit or debit card transactions. 

It also helps in detecting duplicate payments. Verifying correct deposits in your account can help identify irregularities. 

Before you start reviewing your bank statement manually, make sure the statement is properly sealed and not open. Confirm and make sure the right person has properly authorized and signed the statement. 

Scanning before opening a manual bank statement helps you to notice any red flags. It’s good to review your bank statement weekly or monthly, depending on the number of transactions. 

Secure Information Files Using Proxies

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Businesses need to optimize and secure accounting processes online. Investing in Rayobyte proxy makes transferring data online safer. Proxies encrypt data so hackers cannot understand encrypted information even if they access it. 

The proxy providers are committed to offering reliability and a wide range of ethical services. You will have the number of IP addresses you need to secure your business and take it to the next level. 

Manage Acess to Finance Systems

Managing access to accounting systems reduces the likelihood of fraud. Maintain the administrative control of your finance system and determine who can access particular information. 

Some of the sensitive components of your finance system should have access restrictions. This means only specific people with specific duties and responsibilities can access such components. Managing systems help to detect and solve fraud cases accurately and faster.

Segregate Duties

Lack of segregation in finance work can lead to fraud. If one person performs all accounting tasks, it means there is no oversight. For example, allowing one person to receive, process, pay invoices and manage business cash flow makes accounting fraud possible.  

Having two or more people with different financial responsibilities reduces such risks. Segregation of duties helps you identify dishonest employees and security loopholes.

Secure Credit Card Processes

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Fraud involving credit cards is common in the online environment. Statistics show that global losses from credit card fraud will reach $43 billion in the next five years. That is why businesses should ensure they use secure systems for payment. Make sure you share credit card information with the right people. 

Small business owners should also ensure they separate their personal accounts and business accounting. If an account is hacked, it will only affect one account, not both.

Insurance for your Businesses

Insurance protects against losses. The impact of fraud can cause huge financial losses. 

Purchasing insurance can cushion you against such losses. Businesses may have the best measures and controls, but fraud can still occur. 

An insurance cover provides extra precaution. It does not prevent an attack, but it helps you reduce the impact of the attack. 

Having a good policy will help you get back to your business. Depending on the policy you choose, you can be fully or partially compensated.

Conduct Employee Background Screening.

Performing background checks before hiring new employees helps to eliminate fraud in your business. It ensures you avoid negligent hiring that is risky. Such risks include hiring a person who is a threat to your business. 

Confirm their academic achievements and contact referees. This helps to verify the information they provide. 

Check if there are any criminal activities before you hire a new employee. Background checks also ensure you hire the most qualified candidate who will contribute to the business’s success. 

Train your Employees

Training your employees empowers them to know when there is a likelihood of fraud. Regular training programs help employees learn more about fraud and any new tactics hackers might use to commit fraud. 

Employees will also know how to identify suspicious behavior and what they should do if fraud happens. 

Provide a secure reporting channel. For example, an anonymous reporting channel will protect whistle-blowers and encourage more employees to report fraud cases. 

Training employees creates behavior that reduces fraud and promotes business growth. It enables you to build professional knowledge and skills for developing and implementing anti-fraud programs.

Key Takeaway

Keeping your business safe enables processes to run smoothly. It helps you put the best business control and strategies in place to prevent and detect attacks. 

Fraud preventive measures will give you peace of mind and save your time and money. It also improves accountability among co-workers. 

Employees and customers will have strong confidence in your business. This is because fraud prevention and detection stabilize your business functions, allowing you to archive your business objectives. Following the correct fraud detection procedures and using the right technology improves how you detect and prevent fraud.