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DIGITAL SKILLS AND CAPACITY BUILDING: HAELSOFT’S CONTRIBUTION TO NIGERIA’S DIGITAL ECONOMY

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2 years ago

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DIGITAL SKILLS AND CAPACITY BUILDING: HAELSOFT’S CONTRIBUTION TO NIGERIA’S DIGITAL ECONOMY

It is hard to imagine any country in the modern world today without an existing digital economy. The contributions of digital assets and inclusion across all industries that function in a commercial capacity cannot be overemphasized, as it make up for a huge percentage which makes work and processes easier. Given its stated importance, it is imperative that different organizations build capacity for businesses and organizations in order to contribute generally to the growth and development of any nation.

Haelsoft has been one of the top companies which have focused and invested extensively on improving digital capacity building by holding different training sessions and events. Haelsoft have always understood the significance of capacity building in the digital sector and how it can stimulate a better digital economy which has been lacking so much in Nigeria.

While technology has contributed significantly to better education and business development over the years, there has been an increasing need and demand for better digital inclusion, especially with the occurrence of the Covid-19 pandemic. Innovative tools facilitate easier access and exposure to newer learning experiences that could help improve businesses, and likewise the digital economy. Learning digital skills in particular ensures business’s gain access to knowledge and skills they will usually to be exposed to within a regular work setting.

During the Covid-19 pandemic, physical and social distancing increased the need to learn digital skills. Several businesses and entrepreneurs served by Haelsoft’s digital skills capacity building efforts would easily be able to operate their business effectively in even the most restricted conditions. With the prospect of a new normal, embracing a sustained adoption of digital skills, tools and remote work required a demand-driven urgency to deliver high-quality digital capacity-building.

With the help of technology, Haelsoft was able to deliver training for digital skills in an engaging, interactive, and visually stimulating environment. Here, trainees were enlightened on Ways through which technology and digital skills help minimize business costs ranging from transportation and communications, while fostering capacity building activities that impacts the audience. As a result, participants were able to improve inclusivity in their business, thereby allowing them connect to customers who they were less likely to have access to. The several digital skills training programs held by Haelsoft led to an enhanced integration of digital tools into the delivery of capacity building activities.

Digital Capacity Building for Businesses By Haelsoft

Capacity-building is built from three interdependent levels – individual, institutional and systemic. Capacity-building as such goes beyond technical cooperation and training approaches. It can be defined as “a change process through which entrepreneurs and institutions engage in a set of learning methods, whereby they develop and acquire knowledge, skills, know-how, and tools that strengthen their ability to effectively intervene, transform and improve themselves and the environment in which they operate.”

In the context of Haelsoft’s work, capacity building is a far more complex process than “training”, which is but one element of capacity building. Effective capacity-building takes place in a dynamic and interactive learning environment that should combine a variety of tools and methods, including specialized courses, policy seminars, expert group meetings, tailor-made trainings, peer-to-peer learning and knowledge exchange workshops that support the learning cycle.

We approach Digital capacity-building as a key tool for achieving goals as part of a holistic capacity-building strategy. Blended learning approaches  can be used in many ways to integrate both digital and non-digital methods. It should be noted that there is no one-size-fits-all solution to either digital, or non-digital capacity building. The appropriate use and mixture of both techniques is highly contextual. It depends on learner needs, subject area, availability of devices, stable internet connection and instructor capacity.

Opportunities of Digital Capacity-Building Events by Haelsoft

Prior to outlining the specifics of different digital capacity-building approaches by Haelsoft, an overview of the opportunities and challenges of digital capacity building experienced by Haelsoft is presented.

  1. Reduced  cost: The cost of developing a digital capacity-building initiative varies widely. It depends on the type of training, type of approach, and specific tools used. The costs of developing digital capacity-building materials can often be higher, especially those for in-person trainings. The high costs of developing digital media are linked to the use of platforms, videos and graphics that required additional skills and purchase of specific software. This can, however, often be offset against lower total costs of implementing digital capacity-building, thanks to savings made on facility rent, time of facilitators and trainers, and travel expenses.
  2. Inclusivity: While the digital divide can create inequality of access, the digital and in-person format helped to reach participants from marginalized groups. People from marginalized groups, for example persons with disabilities, or women had no trouble attending in person. It should, however, be noted that, depending on the context, marginalized groups may become more isolated in a virtual learning activity, as their specific needs become less visible. Digital capacity-building also strengthen spatial inclusivity. Rural areas may not have the same access to education as urban areas. Our Digital capacity-building helped to bridge this divide.
  3. Innovative technological tools: Innovative tools enable the creation of immersive, interactive, personalized and collaborative learning experiences. These are different to and potentially more effective coupled with in-person experiences. Whiteboarding software, for example, enables real-time collaboration and brainstorming, while allowing additional functions, such as voting. The use of artificial intelligence on a learning platform allows learning experiences to be personalized. This can be achieved through content suggestions based on a learner’s previous activity.

CHALLENGES

  1. Digital divide: As highlighted in the previously, digital capacity-building has the potential to reach users on a much broader scale than in-person learning. This did not, however, disguise the fact that many still lack the financial means, skills, or internet connection necessary to partake in digital activities scheduled by Haelsoft. To resolve this issue, the following strategies were implemented:
  • The program was scheduled to be held both offline and in-house.
  • We ensured all learning experiences are optimized for mobile devices, since smartphones are often more accessible than desktop computers.
  • We enabled the download of materials for offline use. Also, there were varieties of the format, including several versions of learning content. For example, video content is bandwidth heavy, audio is less heavy, and text is light.
  • We Provided appropriate technical support throughout the learning experience to those who experienced difficulties accessing resources.
  1. Limitations of Virtual Learning Methods: Perhaps the most obvious limitation of a virtual learning method in comparison to in-person learning is the lack of physical interaction. Limitations of this nature include: Lower attention span from learners, Reluctance to use or learn technology, Less personal, social, and human learning experience. Virtual collaboration also did not suit all personalities and learning styles. A Lack of informal social interaction and networking prior to and after the learning experience also seem to be an issue.

To solve these issues, we provided clear guidelines for receiving technical support and encouraged a more interactive training session through online workshops.

DIGITAL SKILLS AND CAPACITY BUILDING PROGRAMS ORGANIZED BY HAELSOFT

The most recent digital skills and capacity building event organized by the management of Haelsoft was in 2021. The training was targeted at helping numerous businesses within the business space of Edo State to adapt to the changes due to the COVID-19, and throve in business using fail-proof digital marketing techniques.

Haelsoft Digital Marketing Training in Edo

As you may already know, Digital Marketing is any form of marketing products or services, which involves electronic devices. It can be both online and offline. According to Haelsoft, “it is the use of internet and related digital information and communication technologies to achieve marketing objectives.”

Digital marketing and it`s tools (online advertising, online video and interactive television advertising, mobile marketing, buzz marketing, websites and social media) are perfect for communication with all stakeholders, and at first place with customers.

Accordingly, digital communication become significant element of marketing communication. Companies can hardly gain profit without getting noticed, especially if the target audience is young people that are digital natives. The training focuses on new trends in digital marketing and their impact on companies’ processes to explore how a strategic adoption of digital marketing tools can influence sales and productivity of businesses in Edo State.

Marketing has always been about connecting with your audience in the right place and at the right time. Today, that means you need to meet them where they are already spending time: on the internet. While traditional marketing might exist in print ads, phone communication, or physical marketing, digital marketing can occur electronically and online. This means that there are far more possibilities for brands to reach customers, including email, video, social media, and search engines.

At Haelsoft, we talk a lot about inbound marketing as a really effective way to attract, engage, and delight customers online. But we still got a lot of inquiries from people all around the Nigeria about digital marketing. So, we decided to answer them, this time in Edo State.

Aims and Objectives of the Digital Marketing Training in Edo State

The aims and Objectives of the Digital Marketing Training in Edo State includes:

  • To build the capacity of 400 Micro, Small and Medium-sized Enterprises (MSMEs) across the 18 local government areas of Edo State and provide them with digital marketing support so that they are able to improve their business performance and engage communities around their products/services with Social Media Marketing.
  • To help businesses in this region improve their brand awareness.
  • To improve ROI and Measurable results of MSMEs
  • To build and support “Digital Marketing Ecosystem” across Edo State while leveraging on existing Digital Marketing Agents.
  • To enhance the depth and quality of Digital Marketing information available and accessible to MSMEs in Edo State.

The contributions of this program in helping build the digital skills and capacity of businesses in Edo State cannot be overemphasized, due to the significant results that this has been recorded among businesses that participated. Over 90% of these businesses have achieved significant growth in sales and business operations, after implementing the skills, knowledge and strategies acquired through the program.

The integration of digital marketing strategies into their business’s operations have contributed to exponential lead generation, conversion, and customer retention. This is further evidence of how much digital skills and capacity building contributes towards a better digital economy for business and Nigeria as a whole.

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BUSINESS

Enlumi launches Next-Gen business management platform – Lumi Business to help businesses streamline key operations

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6 months ago

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Enlumi launches Next-Gen business management platform – Lumi Business to help businesses streamline key operations

Enlumi launches Next-Gen business management platform – Lumi Business to help businesses streamline key operations

Enlumi, headquartered in Lagos has announced the launch of its B2B product—Lumi Business. The platform offers a comprehensive array of solutions, including but not limited to Point of Sale, Inventory Management, Accounting, Expense Management, Loyalty Management and analytics.

Enlumi launches Next-Gen business management platform – Lumi Business to help businesses streamline key operations

As a retail business in Nigeria it’s long been believed that having a modern payment collection device is enough to run the business and the rest is left to chance, instinct, or clunky, outdated softwares and tools. However, to thrive in the market, businesses need much more. Business owners frequently struggle with inventory-related challenges such as surplus, slow-moving stock, expired items, stockouts of high-demand products, and employee theft, all of which can result in revenue loss or tied-up business capital.

Lumi Business is tailored to tackle the inventory requirements of businesses, irrespective of their size, stock quantity, or staff strength. It efficiently simplifies sales tracking, expenses, and facilitates the management of customers, products, services, raw materials, ingredients, and recipes. By leveraging the Lumi Business platform, business owners gain access to data-driven insights that inform decision-making, thereby enhancing sales and maximizing overall business profitability.

Wait there’s more! Lumi Business has a cloud-based multi-store management system, which enables business owners to exert full control over their operations from any location worldwide, using any device. Its storefront feature allows business owners to start up virtual stores and sell online. This capability allows them to monitor stock movements effectively and mitigate issues such as employee theft, lost products, and wastage.

Over 300 SMEs in Nigeria trust Lumi Business to manage their day to day operations, particularly due to its robust features and user-friendly interface. The company looks forward to growing its reach and capabilities as it actively pursues partnerships with other platforms serving SMEs.

Speaking on the launch, Wale Adeniji, Enlumi Data’s CEO said “We firmly disagree with the notion that Nigerian business owners aren’t ready for more than basic payment collection tools.

We’ve seen that businesses in Nigeria are ready for more advanced solutions, they just need to be delivered the right way. We’re focused on building a business management solution that Nigerian businesses are crying out for, addressing a myriad of pain points all at once”. Click here to learn more about Lumi Business or visit www.lumibusiness.io

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BUSINESS

Rhebuch: Best Place To Buy Quality And Affordable Security Surveillance Cameras In Nigeria

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8 months ago

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Best Place To Buy Quality And Affordable Security Surveillance Cameras In Nigeria

Rhebuch: Best Place To Buy Quality And Affordable Security Surveillance Cameras In Nigeria

 

The world is already going digital with the spate of innovations that are constantly released to drive convenience and comfort. It often comes with the sense that technology is the present scope shaping the future. There are many tech products in homes, offices, and other places today, with respective designs to serve relative purposes for human causes. This is because of how effective and efficient they are in making life easy for us as a people.

Best Place To Buy Quality And Affordable Security Surveillance Cameras In Nigeria

Meanwhile, it is common knowledge that security is a serious business – concerning the safety of lives and property. As such, adopting technology takes cognizance of this through developing tools or gadgets capable of improving security across space and time. One such piece of equipment is the security surveillance cameras- designed to give real-time information about happenings around the vicinity of the installation. Although these have been around for quite some time, their relevance to enhancing security and safety has not waned, especially as they continue to improve.

 

Nigerians are not new to using security surveillance cameras, as you can find them at homes, offices, shopping centers, religious centers, banks, estates, streets, etc. But while some people believe the cost of acquiring these gadgets is expensive, others are skeptical of their effectiveness – both untrue. Rhebuch is changing this age-long narrative by providing quality and affordable security surveillance cameras to Nigerians.

 

What Is Rhebuch?

 

Rhebuch is a technological company that is a multi-brand distributor of smart homes, video surveillance, fire alarms, access control, smart lighting systems, and many more. Therefore, it is your one-stop shop to buy all automation systems for your home or office. This company is reputed for providing the latest global standard equipment to foster the safety and security of lives and property in Nigeria.

 

There are CCTV cameras of different brands on Rhebuch – some of which include DAHUA 4HDD EPoE, DAHUA 24-port Unmanaged PoE switch, DAHUA 8MP IR fixed-focal dome network camera, Hikvision fixed dome network camera, DAHUA unmanaged desktop switch, etc.

 

Therefore, Rhebuch is the leading place to buy your security surveillance cameras, as there are many benefits from shopping on this platform.

 

Benefits Of Shopping For Security Surveillance Cameras On Rhebuch

 

1. Affordable And Quality Cameras

 

Rhebuch operates in sync with its mission of providing its customers with the best and latest gadgets in the marketplace – which it still upholds. As such, this platform is where affordability and quality melt, such that you purchase original security surveillance cameras at the best prices that are relatively lower than its competitors.

 

For instance, you can buy a DAHUA fixed focal dome network camera for as low as N75,000, cheaper than other marketplaces selling the camera. Therefore, you are saving more when you buy on Rhebuch.

 

2. Multiple Camera Options

 

Rhebuch provides a wide range of options when buying your security surveillance cameras. This is because they vary in type, purpose, and price, making the platform a store for every budget. This aims to change the misconception that these cameras are expensive or ineffective. You can find your preferred security camera with a particular focal dimension and coverage on Rhebuch without buying whatever is available.

 

3. Fast And Free Delivery

 

You are eligible for fast and free delivery when you purchase security surveillance cameras and other systems on Rhebuch. This is to make the logistics of your purchased products seamless through its unique way of proving that the company is highly customer-centric. Therefore, your cameras will be delivered to the platform within 24 hours of purchase.

 

4. Fast Returns

 

Rhebuch allows its customers to return their purchased products if they are no longer interested or unsatisfied. Irrespective of the reason, if it is valid, there is a window for you to return your camera for another. You can complete the return process on the platform within 24 hours.

 

5. Discount Offers

 

You can get the best deals for purchasing security surveillance cameras on Rhebuch. This is always available during special sales seasons, where you will have price slashes for your sales. It can go as high as a 30% discount on the platform. That is why it is important to always keep up with the sales and deals on the platform so as not to miss out.

 

Conclusion

 

You can get quality security cameras in your home or office at the best prices on Rhebuch, as it boasts a large customer base that trusts the platform for security and safety automation needs. So you can buy all your security gadgets on Rhebuch to give you the sense of safety you desire.

 

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BANKING

Financial Analysis: A Comprehensive Study of The Well-Being of A Country 

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11 months ago

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Financial Analysis: A Comprehensive Study of The Well-Being of A Country

Understanding the financial stability of a country requires a thorough understanding of financial analysis. In order to offer insights into the overall financial stability and overall wellness of the country, it entails evaluating a range of economic indicators, financial performance, and market movements.

In this article, we will delve into the fundamentals and importance of financial analysis in evaluating a country’s economic situation.

THE HISTORY ABOUT FINANCIAL ANALYSIS

Ancient Beginnings:

The roots of financial analysis can be traced back thousands of years. The ancient Mesopotamians, Egyptians, and Greeks were among the pioneers of documenting financial transactions, creating basic records of assets and liabilities. These early attempts laid the groundwork for the concept of financial analysis through the study of financial statements and ledgers.

Medieval Europe:

During the Middle Ages, Europe witnessed the rise of merchant guilds and the emergence of double-entry bookkeeping. Italian mathematician and Franciscan friar, Luca Pacioli, is often credited with formalizing double-entry bookkeeping, publishing his seminal work “Summa de arithmetica, geometria, proportioni et proportionalita” in 1494. The concept of balancing debits and credits within financial records formed the basis for modern financial analysis techniques.

Industrial Revolution:

The Industrial Revolution in the 18th and 19th centuries revolutionized business and the need for financial analysis grew rapidly. As companies expanded and diversified, investors began demanding more comprehensive financial reports to assess the potential risks and returns of their investments. The birth of limited liability companies further accelerated the need for financial analysis, as shareholders sought transparency in the performance of their investments.

Modern Era:

The 20th century witnessed significant advancements in financial analysis techniques. The advent of electronic computing in the mid-1900s enabled the processing and analysis of vast amounts of financial data, leading to the development of sophisticated financial models and ratios.

The Great Depression of the 1930s laid the groundwork for modern financial analysis as regulators sought effective ways to prevent future economic crises. The establishment of the U.S. Securities and Exchange Commission (SEC) in 1934 brought about standardized reporting requirements, including the filing of audited financial statements. This increased transparency and standardized financial reporting provided analysts with a more accurate and consistent basis for their analysis.

The Rise of Quantitative Analysis:

In the latter half of the 20th century, the growth of computing power and the availability of large data sets propelled financial analysis into new territory. Quantitative analysis, utilizing statistical models and mathematical algorithms, started gaining prominence. Financial analysts began incorporating complex mathematical methods to assess investment opportunities, risk management, and portfolio optimization.

Modern Financial Tools:

With the advent of the internet and the digital age, financial analysis has become even more accessible and data-driven. Sophisticated software programs, data analytics tools, and artificial intelligence have revolutionized the way financial data is analyzed and interpreted. In recent years, technologies like machine learning have been leveraged to develop predictive models that can assess future trends and make accurate financial forecasts.

MEANING

Financial analysis is the process of evaluating businesses, projects, budgets, and other finance-related transactions to determine their performance and suitability. Typically, financial analysis is used to analyze whether an entity is stable, solvent, liquid, or profitable enough to warrant a monetary investment.

Financial analysis is a fundamental tool that allows organizations and individuals to assess the past, present, and future financial health of a business or investment. Through a systematic examination and interpretation of financial statements, ratios, and other key indicators, financial analysis helps in making informed decisions, optimizing resources, and improving overall financial performance. In this article, we will delve into the meaning of financial analysis, its prominent components, and its significance across various sectors.

Financial analysis involves scrutinizing financial data to evaluate the performance and profitability of an entity. It assists in quantifying the effectiveness of financial decisions, identifying trends, predicting future outcomes, and benchmarking against industry standards. By analyzing financial statements, investors, analysts, and other stakeholders gain valuable insights into the financial position, liquidity, solvency, and operational efficiency of an organization.

FUNDAMENTALS OF FINANCIAL ANALYSIS IN A COUNTRY

  1. Gross Domestic Product (GDP): GDP is a primary indicator used to gauge the economic performance of a nation. Financial analysts analyze GDP growth rates and its components, such as consumer spending, government expenditure, investments, and net exports. This analysis helps in determining the overall strength of the economy and identifying areas of potential growth.
  2. Trade and Balance of Payments: Trade analysis focuses on a country’s imports, exports, and balance of payments. Evaluating trade patterns helps identify sectors driving the country’s economic growth, trade imbalances, and potential risks to the economy from external factors such as changes in global demand or disruptions in supply chains.
  3. Inflation and Interest Rates: Analyzing inflation rates and interest rates provides insights into the stability of a country’s economy. High inflation erodes purchasing power, while high-interest rates can impact borrowing costs, affect consumer spending, and investment behavior. Financial analysts assess the impact of inflation and interest rates on an economy’s overall competitiveness and economic growth potential.
  4. Government Debt and Fiscal Policy: Analyzing a country’s government debt levels and fiscal policy is crucial in understanding its financial sustainability. A high level of government debt may lead to increased borrowing costs, reduced investor confidence, and potential risks to economic stability. Evaluating fiscal policies helps determine whether a country is managing its finances effectively and implementing sustainable economic growth strategies.
  5. Stock Market Performance: The stock market reflects investor sentiment and provides valuable insights into a country’s economic outlook. Analysts evaluate key stock market indices, such as the country’s primary exchange, sector-specific indices, and market capitalization trends. Monitoring stock market performance allows for an understanding of investor confidence, economic growth expectations, and potential risks to the financial system.
  6. Banking Sector and Financial Institutions: A robust banking sector is essential for economic stability. Financial analysts assess the health of the banking system by evaluating indicators such as non-performing loans, capital adequacy ratios, and the overall stability and soundness of financial institutions. Understanding the well-being of financial institutions helps gauge the potential risks to the overall economy, including credit availability, liquidity, and financial contagion.
  7. Regulatory Environment and Governance: The regulatory environment and governance play a critical role in attracting investment and fostering economic growth. Financial analysts assess the effectiveness of regulatory frameworks, transparency in financial transactions, and the overall credibility and efficiency of institutions responsible for enforcing regulations. Evaluating the regulatory environment aids in understanding potential risks and opportunities for sustainable economic development.

SIGNIFICANCE OF FINANCIAL ANALYSIS IN A COUNTRY

Financial analysis plays a vital role across various sectors, serving the following purposes:

  1. Evaluating Financial Performance: By conducting a comprehensive financial analysis, companies can assess their performance, profitability, and financial stability. This, in turn, helps in identifying areas for improvement, developing strategic plans, and making sound financial decisions.
  2. Assessing Investment Viability: Investors rely on financial analysis to evaluate the profitability and risks associated with potential investments. Through detailed scrutiny of financial data, investors can determine the financial health and growth prospects of a company, aiding in making informed investment decisions.
  3. Facilitating Lending Decisions: Financial institutions utilize financial analysis to assess the creditworthiness of loan applicants. By analyzing financial statements, evaluating ratios, and assessing the risk profile, lenders can ascertain the borrower’s ability to repay loans and make sound lending decisions.
  4. Supporting Strategic Decision-Making: Financial analysis aids in strategic decision-making, such as expansion, diversification, or mergers and acquisitions. Understanding a company’s financial position and performance provides a foundation for evaluating the feasibility and potential outcomes of such decisions.

CONCLUSION

Conducting a comprehensive financial analysis provides valuable insights into the economic landscape of a country. By evaluating indicators such as GDP, trade patterns, inflation rates, government debt, stock market performance, banking sector health, and regulatory environment, financial analysts can gauge the overall financial health, identify potential risks, and recommend strategies for sustainable economic growth. Accurate and timely financial analysis acts as a compass, guiding policymakers, investors, and businesses to make informed decisions and contribute to the overall prosperity of the nation.

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