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Automated financial services (AFS) are software solutions that can perform a host of financial tasks, and they are transforming such services into “an always on, algorithmically-driven industry.” Increasingly, AFS can help small and medium enterprises compete globally. With automated financial services, businesses can send and receive payments more efficiently, stay well informed on current market data, and allow their employees to focus on their customers...

Financial technology (or fin-tech) has been around for about 65 years, beginning with the introduction of credit cards in the 1950s. The next decade brought automated teller machines or ATMs, which allowed people to make transactions without having to go to a branch or needing to speak with a teller. Computers and the internet embodied and defined the 1980s and 1990s. During these years, more...

Globalization is a term often used in the business world—especially over the last few decades; it embodies blurring geopolitical boundaries and operating internationally. If you're a small business owner who is interested in trading globally, there are a few things you need to know. First, what is the global marketplace? What are the benefits of trading in the global marketplace? Lastly, what are the characteristics...

A recent study revealed that 58% of small businesses have international customers. Given ever-increasing access to Internet services, that number is bound to grow exponentially over the next few years. In fact, 72% of the small businesses surveyed in that study said they plan to increase their international business. If small businesses want to compete in today's market, global operations are essential. Paying close attention...

Veem is here to help simplify global money transfers for your small business. Our simple, user-friendly process will change the way you think about global payments. Our innovative approach to payment solutions for small businesses will save you time, money, and headaches.   [qodef_blockquote text="It may surprise you to learn that the process of transferring money from one bank to another is not all that different today...

At Veem, we aim to be the best small business global payment option. We've pioneered a new user-focused global payment method that removes middlemen and hidden fees, saving you time, money, and headaches. Our next-generation platform enables simple payments worldwide, making you free to focus on building your business instead of wasting time tracking down funds or navigating through a complex payment process.   In today's...

As a small business owner, you may be a dreamer, an innovator or a thinker, but not necessarily a financial manager. Yet business money management remains to be an important aspect of your livelihood. It involves accounting, budgeting, payroll, etc. - things that keep your business going, like the oil that keeps a car engine running.   Despite the fact that financial management is a significant component...

While small business technology needs vary among companies, there are some technologies that are practically mandatory for boosting eTail results. Here's a look at several of them.   Global Supply Chain Management Software As mentioned earlier, any company that relies on multiple suppliers cannot afford to operate without supplier management software. It helps companies track supplier performance, perform evaluations, manage orders across all online sales channels, and drive...

Many eTailers are drawn to the low prices and amazing selection of Alibaba only to find they are faced with Alibaba sourcing challenges. Lower labor and production standards, no intellectual property protection, communication barriers, and making global payments are among them.   Alibaba sourcing challenge 1: Low labor and production standards While products sourced through Alibaba (bulk, white-label or custom) will not meet the same quality standards as,...

If you’re looking to drive eTail performance, here are 8 critical factors to consider:   Innovation Innovation -- the invention of new products and services, as well as the ability to transform ideas into new offerings -- should be the first order of business for anyone interested in driving eTail performance. Although online retail sales are expected to reach $370 billion in 2017, brick-and-mortar companies still...

It’s common knowledge that technology has accelerated globalization and transformed the world as we know it. Technology has made businesses more efficient at everything from sourcing competitive products to making international wire transfers. It’s also shattered old boundaries—particularly national boundaries—reinventing what’s possible in the global economy. Nowhere is this more evident than in the global opportunities that have opened up for small businesses. Local markets...

Ecommerce platforms link small businesses with consumers around the world. A good ecommerce strategy should, above all, focus on supplier diversity - developing a global network responsible for manufacturing, storing and distributing an eTailer’s products. A global supply chain is more diverse and less expensive. Paradoxically, global transportation is much less costly than US domestic transportation, adding to the possible cost savings available to pass...

When Alibaba went public in 2014, its IPO fetched $15 billion, a figure just shy of Facebook’s valuation. According to the Wall Street Journal, Alibaba is beyond big. According to its website, Alibaba is a Chinese e-commerce company that provides consumer-to-consumer, business-to-consumer, and business-to-business sales services via web portals. Among e-tailers, it’s considered the go-to site when developing a product sourcing strategy that makes the...

The US and Turkey are no strangers, but it can still be hard to send money to Turkey from the US. Diplomatic relations between the two countries started all the way back in 1831 when Turkey was still the Ottoman Empire. They were renewed in 1927 after the Turkish Republic was founded. In 1947, the two countries signed The Economic and Technical Cooperation Agreement. Today,...