Fachs Consulting & Advisory

Hello world!

Admin — Thu, 27 May 2021 13:34:29 +0000

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covid-19 effects on businesses

Admin — Thu, 25 Mar 2021 07:46:51 +0000

Covid-19 has shaped the world in many ways- no citizen of any nation around the world is unaffected by covid-19. Businesses have been forced to change their strategies to remain profitable and sustainable, consumers have changed their spending patterns & habits to preserve money.

How has covid-19 impacted businesses negatively?

Cost Implications of introducing remote working due to covid-19

Some businesses had to implement alternative measures to remain profitable and productive such as remote working which allows employees to work from home. Although this could be a benefit for employees, businesses might have to invest more in tools that help their employees to work productively from home.

Travel & Tourism sector disrupted

Covid-19 rules and regulations have placed the travel and tourism sector in a financially compromising situation due to the travel bans placed within countries and cities. Businesses that depend on tourists such as lodges, tourist attractions, theme parks and museums were disrupted due to the lockdown restrictions.

Businesses considered as non-essential had to close down

The closing down of non-essential businesses has left a lot of people unemployed, business owners had to consider other ventures in order to stay afloat.

Direct consumer-orientated businesses such as restaurants and entertainment parlors had to temporarily close down

Since many customers of those establishments are in the habit of dining and watching movies or performing other activities during weekends, their absence from these places has led to lower revenue in the establishments. Read more

What are some benefits has covid-19 had on businesses?

E-commerce

The older-aged customers are searching for the most comfortable way to shop and are switching to e-commerce as a result of an increasing presence of various online retailers due to lockdown restrictions that prohibit physical retail shopping. Since the demand and opportunities are supported by the rapid increase in internet penetration, younger population, and the digitalized generation, some retailers see it as an opportunity to start their own e-commerce store or a site on platforms such as Amazon.

Digital marketing

Companies have been forced to find alternative ways to reach their customers, engage with them and ascertain that there is visibility for their brand. This has directed most businesses into investing in digital marketing to increase Web site and social media activity and engagement with potential customers in order to convert them into leads and sales.

Innovation

Most businesses have integrated covid-19 into their business offerings, for example, medical companies have added covid-19 protective equipment in their product lines such as the sale of masks, sanitizers, face shield masks, and protective gloves to be sold to other businesses and the general public.

Cut costs

Retrenchment of employees has cut costs for businesses and they now have to remunerate essential departments that are the core of the business.

Although Covid-19 has had an impeccable negative impact on businesses, it has also driven some businesses in the right direction. The threat of a global pandemic has pushed businesses to think about marketing in new ways, businesses are having to consider different types of marketing channels that they may not have considered previously. Read more

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Project management outsourcing

Admin — Tue, 23 Mar 2021 08:46:45 +0000

Outsourcing your project management function is becoming increasingly popular, and it can be the best way to run your business. However, outsourcing your project management may be risky because business trends change every day, what works today may not work tomorrow.

Why should you outsource project management?

Core business focus

If you hire the right outsourcing team, outsourcing can give you time to focus on what you do best. This clarity of focus can help you to be better at what you do and drive growth in your company. For example, if your company specializes in farm produce; hiring a project management outsourcing team will help you plan and complete your projects while the business focuses on its core specialization.

Unbiased reports & work ethic

In many cases, outsourced project managers may be on your project for only a short period of time which then gives them just enough time to really get to know your business and project. This will give them all the information they need without having become too entrenched in your company’s culture or way of doing things, thereby helping them to avoid any bias towards internal staff members or keeping things the same.

Skilled expertise

Project managers are equipped with the expertise to solely manage projects and the experience in the field allows them to successfully execute projects according to every client’s request.

What are the possible threats in outsourcing project management?

Confidentiality of company information

Outsourced project managers have access to sensitive company information which may later put the company at risk should the information be leaked or exposed to the public.

Responsibility and liability

Outsourced project managers need to be accountable and reliable at all stages to ensure projects are completed within the stipulated time and quality standards.

Project managers play a crucial role in the success of every project. A good project manager will be able to manage the tension between stakeholders and still stay responsive to changing needs. The best project managers can do this while not sacrificing quality, scope, or schedule objectives. Read more about project management outsourcing.

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certificate in municipal financial management

Admin — Tue, 23 Mar 2021 08:43:00 +0000

The certificate in municipal financial management is being introduced in support of all requirements of the National Treasury Regulations. The certificate is the minimum competency level required for municipal officials and interns in the local government sector.

Why choose Fachs Business Consulting & Training?

The Certificate in Municipal Financial Management has been developed by the Local Government Studies and Education Trust of Southern Africa (LGSETA), to enhance financial literacy and skills in key areas of municipal financial management, including cash flow management, budgeting, risk management, debt financing, and planning. Being certified in municipal financial management prepares municipal professionals to know government policies such as service delivery, implementing financial controls, managing risk within the local government, managing all aspects of the municipal budgeting system, and managing all stakeholder relationships.

Fachs Business Consulting & Training is fully accredited with Local Government Studies and Education Trust (LGSETA) as a service provider to provide a full qualification on National Certificate: Municipal Finance – Level 6 – SAQA ID 48965. Read more about the municipal financial management program at Fachs Business Consulting & Training.

The training program will equip you with the following skills upon completion of your training:
-Municipal Accounting And Risk
-Management
-Governance and Legislation
-Cost and Capital Planning
-Strategic Management Budgeting
-Management municipal IT support
-Implementation and Performance
-Project Management SCM
-Public-Private Partnerships (PPP)

The municipal financial management program at Fachs Business Consulting is targetted at:
• CFOs
• CEOs
• Middle Managers to be competent as per the regulations
• Interns
• Heads of Supply Chain Management

If you need certification in Municipal financial management then our program at Fachs Business Consulting and Training is for you. Click here to request information on the training program

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