BMY: 2 Stocks to Buy if You Want Passive Income in 2023 – StockNews.com
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BMY – The Fed is likely to slow down its aggressive monetary policy as analysts believe the economy is finally losing momentum and inflation should decline in the next year. Therefore, investors should consider adding fundamentally sound stocks Bristol-Myers (BMY) and ARC Document (ARC) to their portfolios to ensure a stable passive income. These stocks pay handsome dividends. Read on….
Nov 24, 2022
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Fed minutes show a majority of officials believe the pace of interest rate hikes will be slowed down soon. Irrespective, policymakers believe that rates will settle at levels “somewhat higher than they had previously expected.” According to Fed Chair Jerome Powell, interest rates need to rise higher than forecasts until they reach a “sufficiently restrictive” level.
On the other hand, new data shows signs of a cooling labor market and contracting business activities, pointing towards a weakening momentum for the economy. Moreover, Federal Reserve staff economists see a 50% chance of a recession next year amid slower consumer spending, global economic risks, and further interest-rate hikes.
Thus, it could be wise to invest in fundamentally sound dividend-paying stocks, Bristol-Myers Squibb Company (BMY) and ARC Document Solutions, Inc. (ARC), for steady passive income.
Bristol-Myers Squibb Company (BMY)
BMY engages in discovering, developing, licensing, manufacturing, and selling biopharmaceutical products globally. The company’s offerings include products for hematology, oncology, cardiovascular, immunology, fibrotic, neuroscience, and COVID-19 diseases.
On November 10, BMY announced that Health Canada approved CAMZYOS™ (mavacamten capsules) for treating adults with Symptomatic Obstructive Hypertrophic Cardiomyopathy (oHCM).
CAMZYOS™ is the first Canadian-approved allosteric and selective cardiac myosin inhibitor that targets the underlying pathophysiology of oHCM. This should help the company provide a new treatment option to patients and thus expand its revenue stream.
On November 1, BMY paid its quarterly dividend of $0.54 per share. The company pays a $2.16 per share dividend annually, which yields 2.74%. It has a record of six consecutive years of dividend growth.
In the fiscal third quarter ended September 30, BMY’s EBIT increased 2.4% year-over-year to $2.21 billion. The company’s net earnings amounted to $1.61 billion, up 3.6% year-over-year, while the non-GAAP EPS improved 3.1% from the prior-year quarter to $1.99.
Analysts expect BMY’s EPS for the fiscal second quarter ending June 2023 to be $2.07, indicating a 7.4% year-over-year growth. The company’s revenue is expected to increase by 1% from the prior year to $12 billion in the same period. The company has an impressive earnings surprise history, as it surpassed the consensus EPS estimates in each of the trailing four quarters.
Over the past year, BMY has gained 37.8% to close its last trading session at $79.14. The stock has gained 26.9% year-to-date.
BMY’s strong fundamentals are reflected in its POWR Ratings. The stock has an overall A rating, equating to a Strong Buy in our proprietary rating system. The POWR Ratings are calculated by accounting for 118 distinct factors, with each factor weighted to an optimal degree.
The stock also has an A grade for Value and a B for Stability, Sentiment, and Quality. It is ranked #3 of 162 stocks in the Medical – Pharmaceuticals industry.
Beyond what we’ve stated above, we have also given BMY grades for Growth and Momentum. Get all BMY ratings here.
ARC Document Solutions, Inc. (ARC)
ARC, a digital printing company, provides digital printing and document-related services in the United States. It provides managed print services, cloud-based document management software, and other digital hosting services. The company also offers professional and software services to re-produce and distribute documents of different formats and specialized graphic color printing.
The company declared a quarterly dividend of $0.05, payable to its shareholders on November 30, 2022. ARC has a four-year dividend yield of 1.86%. Its current annual dividend of $0.20 translates to a 6.6% yield.
For the fiscal third quarter ended September 30, 2022, ARC’s net sales came in at $73.10 million, increasing marginally year-over-year. Adjusted net income attributable to ARC increased 15.6% year-over-year to $3.70 million, while its adjusted EPS came in at $0.09, representing a 12.5% increase from the prior-year quarter.
ARC beat the consensus EPS estimates in all four trailing quarters, which is commendable. Over the past month, the stock has gained 33% to close the last trading session at $3.02.
ARC’s POWR Ratings reflect this positive outlook. The stock has an overall rating of A, translating to a Strong Buy in our proprietary rating system.
It also has an A grade for Value, Sentiment, and Quality and a B for Stability. Out of the 44 stocks in the B-rated Outsourcing – Business Services industry, ARC is ranked #1.
Click here to see the other ratings of ARC for Growth and Momentum.
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BMY shares were trading at $79.14 per share on Thursday afternoon, up $0.28 (+0.36%). Year-to-date, BMY has gained 30.87%, versus a -14.29% rise in the benchmark S&P 500 index during the same period.
Komal’s passion for the stock market and financial analysis led her to pursue investment research as a career. Her fundamental approach to analyzing stocks helps investors identify the best investment opportunities. More…
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Document Generation Software Market is Booming Worldwide | AppExtremes, Windward Studios, King Street Labs – openPR
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The new way to hire tech workers: from the bottom up – Computerworld
By Lucas Mearian
Senior Reporter, Computerworld |
By the time she was 21, Sara Mothersil had attended college for three years — and changed her major three times. She didn’t know what she wanted to do, but did realize one thing: college wasn’t her path to a career.
“I did not like college; it was just the thing to do,” the West Palm Beach, FL native said in a recent interview. “Your parents encourage you to go to college and get an education, but my heart just wasn’t into it. I couldn’t find anything I was passionate about.”
Sara Mothersil, an apprentice with Multiverse and a fulltime analyst with Intermountain Healthcare.
Not long after graduating with an arts degree, Mothersil saw an ad on TikTok for a technology apprenticeship program. She figured it was scam, but when she saw the ad again on Instagram, she reached out to UK-based Multiverse.
Multiverse, as it turned out, was for real; it was offering 12- to 15-month apprenticeships in tech careers — and full-time employment in a number of industries. Mothersil is now five months into her apprenticeship and works as a business management analyst associate for Intermountain Healthcare, one of the largest healthcare providers in the western US.
“I love learning first and foremost,” she said. “Being able to learn from Multiverse and being able to apply what I’ve learned almost instantaneously at Intermountain has been game changing.”
Increasingly, US workers are turning to alternative credentials as a way to demonstrate and enhance their skills. Those alternatives include tech certifications, badges, and apprenticeships, which are supplanting traditional education and work experience.
The number of apprentices has been rising since 2011, and hit a high of 636,515 in 2020. Since 2014, the number of apprentices completing their training each year has grown 118%, from 44,417 eight years ago to 96,915 in 2021, according to the US Department of Labor.
Since 2012, the number of workers participating in certified apprenticeships has grown by 64%, with more than 14,000 new apprenticeship programs added since 2017. During that same five years, 484,000 workers have trained through apprenticeship programs, according to Labor Department statistics.
“Without question, we’re seeing this as a significant trend,” said Graham Waller, a vice president analyst at Gartner Research. “Not only are we seeing it as a major trend, but I’m personally passionate about it. There are so many great advantages of that [apprenticeship program] approach over the traditional computer science degree.”
One of the challenges with traditional classroom-based learning, for example, is that only a small portion of the information taught is used on the job, Graham noted.
A 2020 study by Gartner indicated that employees apply only 37% of the new skills they learn through traditional training. The same study showed skills also have a limited shelf life; 33% of the skills needed three years ago are no longer relevant today.
“The traditional degree is made up by a boatload of information you hardly ever use, and because you’re learning for three years without using those skills, you’re falling further behind as state-of-art technology is moving ahead all time,” Graham said.
When education is matched to a job where the lessons can be readily applied, both talent goals and business outcomes rise sharply, Graham said — nearly 10-fold.
Alternative credentials can highlight untapped talent and even bolster diversity when employers embrace different ways of obtaining skills, whether through in-house education or other non-traditional programs, according to a survey by the Society for Human Resource Management (SHRM) funded by Walmart.
In the survey of more than 2,800 upper and mid-level managers, 81% of executives, 71% of supervisors, and 59% of HR professionals agreed alternative ways of credentialing yields a more diverse workforce.
Corporate approaches to filling tech skills gaps is increasingly to upskill or reskill current employees, some of whom have tech skills but not the ones now needed. Adding to current knowledge or completely retraining employees is known as “skills adjacency;” in practical terms, it means someone working in marketing or customer service, for instance, can be trained in specific technologies the business needs most.
For example, a business unit might need more data scientists; someone who knows how to use spreadsheets can be taught how to crunch data to provide business intelligence. Such skills adjacency can play a role in making apprenticeships the most effective method of training, Graham said.
“They have an adjacent set of skills that leads to opportunities for a career in tech; this is where we’re seeing apprenticeship programs springing up more and more,” Graham said.
Apprenticeship programs also help diversify the talent pipeline specifically in the tech industry, according to a report from the Kapor Center and the NAACP. Black students represent just 6% of those enrolled in advanced placement computer science courses despite representing 15% of the overall student population, according to the report. By contrast, 17% of apprentices from 2016 to 2021 were Black, according to US registered apprenticeship data.
In addition, the proportion of Black students receiving a bachelor’s degree in computer science from between 2016 and 2020 from 9% to 8%.
“Apprenticeships provide a path for workers in underserved communities to overcome obstacles in accessing affordable learning,” said Pierre Dubuc, founder and president of OpenClassrooms, a global education-to-employment online platform with 355,000 students in 140 countries. “Concretely, this means that apprentices are hired and paid wages by an employer, while their tuition fees are also covered by the same employer.”
Particularly for tech jobs, companies in recent years have had to re-think how they find workers, according to Dubuc, whose Paris-based firm has been expanding into the US from Europe and Africa.
“Apprenticeships, which have long been popular in Europe, are now increasingly being recognized here with public sector and private company support as a quick way to train workers for these jobs by tapping into more diverse talent pools,” Dubuc said. “Apprenticeships are becoming more popular because companies have realized it’s a great way to train workers for the jobs they need to fill.”
Beyond that, tech apprenticeships and the jobs that follow pay well and don’t carry the debt burden of a four-year degree, Dubuc noted.
For example, OpenClassrooms and global shipping enterprise Merck partnered on tech-focused apprenticeship programs where participants earn from $24 to $32 an hour, rising to $40 to $50 an hour after three months, according to Dubuc. In contrast, the average salary for an apprentice in the US. is $19.26 an hour, according to Indeed.
“When apprentices complete the…program, which includes our robust online training and mentorship platform, they receive an industry-recognized certificate from the US Department of Labor — and likely a job offer,” Dubuc said.
OpenClassrooms was recently recognized as a Registered Apprenticeship Program (RAP) with the US Department of Labor.
In February, the Biden administration launched an initiative to expand RAP with the Apprenticeship Building America grant program. The grant provides $113 million to modernize US-based apprenticeship programs. RAPs are industry-vetted, approved, and validated by the Department of Labor or a State Apprenticeship Agency
The Labor Department’s ApprenticeshipUSA’s website helps job seekers find prospective apprenticeship programs, each of which offers paid, full-time employment while acquiring skills and credentials employer’s want.
Ninety-three perent of apprentices who complete a program retain employment at the company and, on average, earn $77,000 a year, according to an ApprenticeshipUSA document.
Earlier this month, President Joseph R. Biden Jr. signed a proclamation in observance of the eighth National Apprenticeship Week, recognizing the importance of mentorship programs and hundreds of millions of dollars the federal government has put toward registered apprenticeships and pre-apprenticeship programs in various industries. For example, the US government created a 120-day Cybersecurity Apprenticeship initiative that has already connected 140 employers to potential workers attending cybersecurity training programs.
Earlier this year, Expedia Group launched a return-to-work project called the Return Ticket Returnship Program, which can be attended by any worker with a caregiving gap on their resume greater than two years. The prospects don’t have to be former Expedia Group employees — anyone with at least five years of tech career experience who left the workforce to care for someone can apply.
Expedia Group, which owns travel booking platforms Expedia.com, Hotels.com and Vrbo, integrates prospects into teams and matches them with a dedicated manager — essentially a mentor. The program is meant to sharpen worker skills, help them update resumes with new experiences, make networking connections, and have them begin contributing to an Expedia team with the aim of converting to a full-time position.
The tech industry was hit particularly hard by the COVID-19 pandemic and the Great Resignation, leaving organizations facing a dearth of qualified job candidates for more than 1 million openings.
For all US jobs, the number of openings was at a high of 11.5 million at the end of March, according to the US Bureau of Labor Statistics (BLS). Meanwhile, in each of the past six months, more than four million people have quit their jobs, according to the agency.
In tech, the talent shortage is even worse. While the national unemployment rate hovers around 3.6%, for the tech industry it’s 2.2%, according to CompTIA, a nonprofit association for the IT industry and workforce. That’s prompted employers throughout the US to step up their search for workers — and to revisit the qualifications (such as a four-year college degree) they require.
With an extremely low unemployment rate, the industry is rethinking what job applicants need to get hired. Skills-based hiring is on the rise, and 59% of employers have already or are considering eliminating college degree requirements — changes that could reshape the IT workforce.
For Mothersil, college amounted to a lot of information being “thrown at her” by professors, but she was never sure whether she would ever actually use what she learned. By comparison, the apprenticeship program through Multiverse was a whirlwind where one week she was being interviewed as a potential candidate, and the next she was partnered with a company and beginning her 12-month training program.
While the program can be completed remotely, Mothersil decided she wanted a change of scenery and earlier this month moved to Utah, where Intermountain Healthcare is headquartered and where she could intermittently enjoy an office setting.
In comparison to learning from a professor face-to-face, it was the remote learning and work at Intermountain that Mothersil said was among the most challenging aspects of the program. “That’s why I push myself to go to the office,” she said.
She also made a concerted effort to keep up with other Intermountain apprentices via Zoom, something the company encourages.
“In the same way college affords students a professional network, we want to make sure it’s not an either-or for our apprentices; we want to set them up to be a future leader in their career,” said Sophie Ruddock, general manager of Multiverse’s North American operations. “We invest heavily in community, offering access to speakers who range from MBAs to former government leaders.”
Multiverse candidates, or “cohorts” as they’re called by the company, are allowed to pick from technology or management disciplines, such as project management, digital marketing, software engineering and data analytics. Candidates are tested for their proclivity, and from that assigned to a company based on its skills needs.
Multiverse works through apprenticeships with small companies all the way up to global enterprises,such as Visa, Cisco, Verizon and Box.
One aspect of her apprenticeship Mothersil likes in particular is the ability to tell her workplace manager what she learned during any particular day of training and how she can apply that to her job.
The training through Multiverse’s remote program wasn’t easy, she said. Learning SQL Server, Tableau, business intelligence, and data virtualization at an accelerated pace was challenging to say the least. But she was able to work closely with her mentor.
“I have a close relationship with my coach,” Mothersil said. “I’m able to say if I’m struggling here. Even though it’s challenging and intimidating, especially when comes to coding…, I’m confident in the tools I’ve been given.”
Mothersil has long had a passion for organizing her life through Excel spreadsheets — grocery lists, budgets, college achievements, countdowns to events, and the like — but it never occurred to her she was working with “technology,” or more importantly that someone would pay her to do it.
Copyright © 2022 IDG Communications, Inc.
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M-Files Review 2022: Features, Pricing & More – The Motley Fool
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For companies that want to upload and store files online, M-Files is a very user-friendly option for document management. It is full of features to help make your business’s life easier.
For any office looking for the best in document management systems, M-Files is a standout choice. Its simple-yet-effective guiding principle of classifying information by “what” it is rather than “where” something is stored has changed the entire game.
You can find documents more quickly, and data is stored more intuitively so your document management process runs smoothly.
M-Files can be used offline, with items syncing up when service is restored. It integrates with most office software, and stores everything in one place. Also, M-Files utilizes search and tagging to help you stay organized.
From running simple searches to find what you are looking for to no longer worrying about unsaved data getting erased (thanks to autosave and updates done during saving), M-Files ensures accuracy and efficiency for thousands of files.
Thanks to its innate ability to scale, M-Files is an excellent choice for a variety of industries and businesses. It also expands on its offerings from just document storage to include things such as automated workflows and metadata management.
M-Files positions itself as an all-inclusive product for organizations that need just a little bit more out of their software. It shines when data and document management, integrations, and workflows are part of day-to-day operations.
It may not be best suited for heavily transactional requirements, or reporting that calls for extensive calculations, but most other technical, sales, HR, marketing, etc. needs are met and then some.
A lot of the excitement in the M-Files community comes from their robust and well-thought-out features. Beyond essential data storage, the application has many handy capabilities.
M-Files doesn’t make use of the old-school folder filing system and instead uses dynamic organization to keep things simple, effective, and intuitive.
It creates virtual folders that automatically organize your content, allowing you to search for precisely what you need rather than comb through levels of best guesses.
Find just what you’re looking for with a top-down view. Image source: Author
The search bar shows a top-down view of information, as you can see the pathways connecting your data and how topics relate to one another.
Rather than go to a folder for invoices, and a separate folder for all proposals, you can see related folders while searching. Documents themselves can be viewed in the same totality digitally, meaning users can view all data from one place.
M-Files integrates with your existing software easily. You can sync files and data from Microsoft Office, Salesforce CRM, and much more. There’s no need to uproot your document management process, as M-Files works around your existing infrastructure.
While in-app access and editing for multiple authors is undeniably a good thing, the larger your organization is, the more threat there is of two people accidentally editing something at once and relevant information getting lost or modified.
Keep track of documents you currently have checked out to edit. Image source: Author
This problem is solved by the ability to “check out” a document from the system, effectively taking it offline and preventing other users from editing it while you are working on it.
When you finish working on the document, you can easily check it back into the system. M-Files document management can track your changes and save your old version, if needed.
You can turn on automatic notifications along with process checkpoints for a document, so you are alerted to important progress such as approvals, sign dates, etc. This feature includes an auditable history of edits and document access.
You can simplify the shared editing process by allowing co-authors to access a document internally in the system rather than keep sending it back and forth as an attachment.
If you need to share with someone outside the organization, you can opt for specific permissions that restrict access and allow for only certain editing access as a way to preserve security.
You don’t need to send full attachments outside the business. By creating custom links, you can streamline the process as well as track edits and authors.
You can also opt to download information in a variety of file types to share or save locally. So while you don’t need to send out email attachments, you still can if you prefer.
You can send files out as links, attachments or separate text. Image source: Author
The searchability of M-Files is centralized, making it easier to find any information. When you save a document, all you need to do is save it and indicate the type of content it is, and the system centralizes it for you.
Access the M-Files app through the Apple App Store, Google Play, and Windows Phone Store. Through any mobile device, users can take pictures of documents and upload them to the system. You sign documents electronically for compliance needs and review documents on the go.
One of the best parts of M-Files is how simple it is to use. There are very few steps to handling every aspect of it. The dashboard itself is straightforward, while every action is intuitive. Accessing it is simple through your browser, while uploading documents could not be easier, thanks to its drag-and-drop ability.
The top navigation bar is simple to understand. Image source: Author
Altogether, M-Files is highly intuitive, adapting itself to how each user works. Because of this, you can learn as you go, and it will conform along with your habits. From the dashboard to editing, sharing, and workflows, every step is as efficient as possible.
The central navigation pane walks you through steps for creating new files as needed. Image source: Author
Where there remains a bit too much of a mystery is with M-Files’ pricing. It works from the mindset of custom offering, which, while a good thing when it comes to getting what you need in a solution, it is an issue if you need to make fast decisions based on budgeting.
Upon contacting M-Files, you can sign up for a free trial to test drive the system before committing to a quote.
Though finding exact ranges of prices quoted is also not readily available, users have reported a higher cost than many other options. However, most say the benefits make it worth the price tag.
M-Files support offers several options to contact. For tech support, you can opt to submit a ticket, including your product’s serial number for priority attention.
You can call the North American or European phone lines or even choose remote support to access your system directly.
For other questions, you can speak directly to a very helpful representative for assistance with uploading content, setting up workflows, accessing further training, etc. M-Files’ library of resources is set up to be just as searchable as its document interface.
You can search for just the answers you need. Image source: Author
M-Files offers seamless Microsoft integrations to upload your existing files. You also have the benefit of quickly setting up workflows via its graphical interface. Saving files is as intuitive as can be; all you need to know how to do is save a file, and it takes care of the rest.
You are also assured that your sensitive information is secure. You don’t have to email out attachments separately. Instead, you can create unique, restricted links that are as protected as you need them to be.
Despite the lack of transparent pricing, M-Files has seamlessly integrated itself into the everyday framework of many organizations for a good reason: It works well, and it is easy to use.
Its features are well defined and purposeful, and the learning curve to get started is minimal. For any office looking to leap to document management, this is an excellent starting point.
There is no direct answer for that, as it determines pricing via individual business quotes. You will need to contact a customer representative for more information. However, you can do a free trial before you decide to commit.
It is designed to seamlessly and easily integrate with the most common applications. For example, it intuitively syncs with Microsoft products and can just as easily be integrated into Salesforce.
Yes. M-Files has a mobile app that you can use to edit, upload, and browse your organization’s files.
Rose Wheeler is a seasoned writer and content manager with more than 15 years of experience. She specializes in content related to digital marketing, small business, personal finance, and CMS. Her work has appeared on sites such as Selz, The Cheat Sheet, and Swaay. When she’s not working with her awesome clients, Rose enjoys cooking, playing games and curling up with a good book.
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Tropy: An Open-Source App to Organize Your Research Photos – It's FOSS
Brief: An app to help you explore research photos, and documents without losing out on important contextual information about them.
Organizing photos is a big deal for individuals and researchers. Managing a large photo collection is not easy, whether it is just for a passion project or professional work.
What if you want photos for research or a detailed archive?
Tropy can help you out with that.
Tropy is an impressive open-source software that lets you organize all your research photos, add essential details to them, and have them ready for research purposes as well.
Primarily, it is built for researchers, where you get the superpower to add several properties of metadata to describe the content of your photo.
The photo can be of a document, old book pages, and anything you’d like to keep for exploration.
It saves your research data using SQLite, which is a suitable format for data preservation.
It is not just limited to Linux but is also available for Windows and macOS (Intel/ARM).
While it is particularly targeted toward researchers, I believe anyone can use it. It is user-friendly and easy to use.
You can also use it coupled with Zotero, which is an open-source application to help you collect and share your research.
Let me highlight some key features.
Tropy is not exactly a photo organizer. You can always use some photo management software available for Linux for that purpose.
But, if you want features to keep your photos or images of documents organized for research purposes, Tropy should be a likable option.
The features include:
In a nutshell, you get several features with Tropy. With all the options, you get a wide range of possibilities to organize, sort, seek information, and organize the photos for research and archive purposes.
You also get to add plugins, overwrite photo metadata while importing, add existing timestamps using a local timezone, and a couple of other features.
If this sounds like something you could use, you might want to check out its official introductory video to learn more about it:
You can download the package for Linux from its official website. It downloads a .tar file which you can extract, and then run the executable inside it to launch the application.
If you want to use the AppImage file on Linux, you can download it from its GitHub releases section.
Tropy is a powerful tool for researchers and an interesting option for others. Even if you are not a researcher, having meticulous data for your photos/documents can be incredibly useful at times.
While the features can be overwhelming to replace a photo organizer, I would suggest you try it out for a while to see if you start liking it.
Have you tried it already? What do you think about it? Is there something similar you would recommend for our readers?
A passionate technophile who also happens to be a Computer Science graduate. You will usually see cats dancing to the beautiful tunes sung by him.
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Thanks for this overview! I’m a member of the Tropy education and outreach team and it’s gratifying to see this positive review. Tropy has an extensive documentation and an active forum where users can ask questions, get help with issues, and request features. I encourage anyone interested to stop by and sign up!
https://forums.tropy.org/
How do I install this on Mac and where is the Repo for the code?
Not hard to find:
==> https://www.tropy.org/ -> dropdown -> select Mac
==> https://github.com/tropy/tropy
It’s exactly what I need. I have been looking for this kind of app for years!
Thank you for sharing. Seems like a very useful tool for my research!
Glad you like it!
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Your Documents Aren't Safe. Here Are the Best Practices for Document Security – Entrepreneur
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The digitized document revolution comes with inherent concerns about properly securing all this information. Companies need to incorporate the highest levels of document-management security.
With the advent of 5G technology and Industry 4.0 putting more pressure on businesses to fast-track their digital transformations, the demand for document-management solutions has exploded. The worldwide market for document-management software is projected to reach $10.17 billion by 2025. Along with this revolution comes inherent concerns about properly securing all this information. Documents often contain sensitive and private information that, if compromised, could be detrimental to individuals, businesses or governments. That is why companies need to incorporate the highest levels of document-management security.
Related: Keep Your Information Moving At The Speed Of Your Business
With the continued release of new vulnerabilities regularly and the ease at which a digital document can be compromised — compared to a physical piece of paper — ensuring the security of those documents has become more important than ever to keep private information from being exposed.
It is common to read the news and learn about a new security breach. Impacting small and large companies, nearly 2000 data breaches occurred in the first half of 2022 alone. To many companies, their data is among their most valuable assets, so it must be protected.
Ransomeware, a form of malware designed to encrypt files and deny users access to them until a demand ransom is paid, is one clear threat. Phishing attacks, where hackers try to get account credentials (username and password), represent an ongoing and ever-evolving danger. Hackers typically lay low for a time, then eventually start logging in as that user so as not to draw suspicions. Then they download documents that the user can access or, if sophisticated enough, attack network administrator privileges.
Just who is trying to hack into systems to get documents? Anyone who can find value in the type of data a company possesses. Hackers typically don’t know the type of data a company possesses until they get their hands on corporate documents or know enough about a company to recognize the types of information that might be available, such as financials or employee personally identifiable information (PII). It’s really any documents that they can use for profit.
Numerous outsourced document-management vendors exist in the marketplace today, and not all are created equal when it comes to offering the highest levels of security. Below are four necessary security features to look for from a document-management partner:
Related: How To Develop Security Policy For Your Company
In addition to wanting the best technology solutions to help facilitate the digitization of documents, companies should also make security a top priority. Whether you have a Chief Security Officer, Chief Technology Officer, Head of IT or are working with a third-party service provider, there are several best practices that companies themselves should implement to ensure they’re doing their part to secure their digital documents:
To obtain the highest levels of security for digital documents, collaboration on strategy should involve all stakeholders — including document-management providers, IT, security and operations.
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How will Microsoft Loop affect the Microsoft 365 service – TechTarget
The addition of Microsoft Loop is likely to be the most important change that Microsoft has made to its Microsoft 365 platform.
Microsoft Loop, based on Microsoft’s Fluid Framework, will let users collaborate in previously impossible ways. Some of these new capabilities are already available in Microsoft Teams, but Microsoft will soon make Loop available across all Microsoft 365 applications. Loop is now in private preview, and public release is on the horizon.
Microsoft Loop’s capabilities are far different from other collaborative features available today. To understand and fully appreciate what Loop brings to the table, it’s helpful to look at the basic building blocks that make up Microsoft Loop and how they connect with Microsoft 365.
Microsoft Loop consists of three high-level structural elements: Loop components, Loop pages and Loop workspaces.
Of the three, Loop components are arguably the most important. A Loop component is essentially just a Loop-enabled document object. To put this into perspective for a Microsoft 365 user, imagine a Microsoft Word document. Although Word is primarily for writing and editing basic text, it supports numerous design elements. With the addition of Loop components, Word supports several component types with real-time editing across the Microsoft 365 suite. These live-editing components include paragraphs of text with a bulleted list, tables, checklists and numbered lists.
Loop differentiates itself from its legacy Microsoft Office 365 counterpart because these elements are collaborative across the productivity suite.
Consider a user who adds a paragraph to a Microsoft Word document but isn’t sure whether it’s accurate. Rather than emailing the entire document to someone who could edit and approve the addition, that user could copy the Loop component into Outlook and email it to a supervisor or message it to them in Microsoft Teams. The recipient opens the message containing the paragraph and makes a change from within Outlook or Teams. That change immediately shows up in the original Word document. Other Loop components behave similarly across Microsoft 365 applications.
A Loop page is a document that includes one or more Loop components. As it stands right now, the Microsoft Loop app acts as a blank canvas on which you can add loop components. Some users could work within this interface, but the value of Microsoft Loop is that users can keep the components within the apps and files they need without having to seek them out.
It may be helpful to think of Loop workspaces as being somewhat of a next-generation OneNote and essentially serves as a File Explorer for Microsoft 365. OneNote allows users to create notebooks that group similar information. Users can then create sections within the notebook and pages within each section. These pages are free form and can accommodate various types of content. These might include embedded files, handwritten text, recordings or countless other Loop elements.
Loop workspaces is an application designed to help users keep their Loop pages organized. A user could, for example, group related Loop pages together for a project, and that workspace could serve as the central hub for a team to access all project resources.
Loop workspaces does not limit users to working solely with Loop pages. Like OneNote, users can add a variety of other content types, such as a Word document alongside some Loop pages.
Microsoft Loop has enormous potential to change how collaboration works in an enterprise setting. Organizations that have adopted a hybrid work model with some users in the office while others work remotely could especially benefit from this technology. This is because Microsoft Loop is location agnostic. Remote users and users working on site can all collaborate on the same documents simultaneously if they have a connection to the internet and a valid set of Microsoft 365 credentials.
It’s fair to note that real-time document collaboration is nothing new. At the height of the pandemic, many organizations added Google Docs and other Google Workspace services to their workflows because they allow users in remote locations to collaborate on a document in real time. What makes Microsoft Loop different, however, is that Loop does not tie the collaborative process to a specific document. Collaboration happens at the Loop component level rather than the individual file level. This means that users can edit the data using whichever Loop-enabled application makes the most sense for them at any given moment. One user might edit a table in Word, while another user looking at the table in Teams would see the change in real time.
There is another aspect of Microsoft Loop that is far more profound. Loop will provide enterprise users with a single source for all their Microsoft 365 work, data and files. Consider how many copies of a single document could exist within an organization. There may only be one copy of the document saved on a SharePoint site, but that doesn’t account for the original Word document that is saved on — potentially — multiple laptop hard drives. How many versions of that document have been emailed back and forth between users? Because of each user’s changes, all those document copies are probably slightly different from one another. Loop makes it so that even if someone were to open an old document copy, the data within the document is always up to date — assuming that it is based on Loop components.
While Loop represents a compelling collaborative framework in its own right, one step that Microsoft has taken is sure to make Loop a game changer for some organizations. Microsoft has made Loop extensible, so private developers and third-party vendors can create new Loop-enabled data types.
From an enterprise IT department’s perspective, this means that users will eventually be able to create Loop pages containing both Microsoft 365 data and data from the line-of-business applications that they use in their daily workflows. Because all this data is Loop-enabled, it will always be up to date, reflecting real-time changes. It may even become possible to establish relationships between these varying types of data, such as a real-time Excel chart linked to data from a sales app.
While these third-party plugins and integrations are hardly market-ready, the potential of this technology could be wide-spanning across numerous business-critical processes.
Part of: Introduction to Microsoft Loop
Microsoft plans to release Loop this year as the long-awaited information-sharing tool across 365 apps. The software reduces the time spent searching for vital data.
As most organizations now have hybrid workers, virtual collaboration is a priority. Here’s how integrating Microsoft Teams with Loop components can enable effective collaboration.
Microsoft’s announcement of Loop came with various questions — in particular, how the new product compares to legacy products, like SharePoint. Here, find out how the two differ.
While Microsoft Loop is not yet generally available, Microsoft has released details about how Loop can connect users and projects across the Microsoft 365 service.
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Global Quality Management Software (Complaint Handling, Document Control) Market Size, Share & Trends Analysis Report 2022-2030 – ResearchAndMarkets.com – Business Wire
DUBLIN–(BUSINESS WIRE)–The “Quality Management Software Market Size, Share & Trends Analysis Report by Solution (Complaint Handling, Document Control), by Deployment, by Enterprise Size, by End-use, by Region, and Segment Forecasts, 2022-2030” report has been added to ResearchAndMarkets.com’s offering.
The global quality management software market is estimated to reach USD 20.66 billion by 2030, registering a CAGR of 10.4%
The rising developments in QMS functions, as well as the increasing integration of artificial intelligence and machine learning technologies, are the factors anticipated to drive the market demand. The market is expected to gain traction owing to the increasing penetration of the Internet of Things (IoT), Industrial Internet of Things (IIoT), and smart devices.
The outbreak of COVID-19 is likely to impact businesses drastically, due to the stifling innovation, suppressing profitability, and drying up cash flow and financial reserves. IT and software development industries have also been facing challenges because of this unforeseen outbreak.
However, the impact on the software industry, including QMS solutions, has been relatively low. The manufacturing and transport & logistics industries are expected to experience a significant negative impact in the aftermath of the pandemic.
The suspension of production along with the trade of various goods and services is expected to affect the QMS market in the short term. Supply chain disruptions and the introduction of new regulations had a profound impact on the market growth. However, industries such as healthcare in addition to IT & telecom are likely to witness growth opportunities.
Effective and efficient change management has become more critical in the life sciences industry as the global need for access to medicinal products and medicines has increased exponentially. QMS vendors are instrumental in providing solutions with customized features to meet the increasing needs of the healthcare industry.
QMS software offers various functionalities, including out-of-specification test results, handling of non-conformances, calibration, ensuring compliance as well as a centralized system that ensures connection to organizations’ ERP and CRM systems. All these functionalities, coupled with benefits such as reduction of operational costs and business process optimization, are estimated to propel the adoption of QMS across a wide range of industries.
The QMS market is also anticipated to witness significant growth owing to the rising demand for the effective management of organizational processes and the need for meeting consumer expectations in a highly competitive market.
In addition, the rapidly increasing technological advancements in the IT & telecom sector and growing automation of the transportation & logistics industry are also contributing to the market demand.
Quality Management Software Market Report Highlights
Competitive Landscape
Market Dynamics
Market driver analysis
Market challenge analysis
Industry Analysis
Vendor Selection Criteria
Regulatory Framework
Vendor Ecosystem
For more information about this report visit https://www.researchandmarkets.com/r/ulapjg
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5 Best Practices for Small Business Record-Keeping – The Motley Fool
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by Ryan Lasker | Updated Aug. 5, 2022 – First published on May 18, 2022
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I don’t think organization maven Marie Kondo was talking about business records here, but it certainly applies: “To put things in order means to put your past in order, too.”
Business records prove business transactions and activities. Growing a successful business requires organization on all levels, including your business records.
An effective records management system doesn’t take much time to maintain and streamlines bookkeeping, tax preparation, and financial audits.
Follow these tips to create a record-keeping system that keeps your blood pressure down during tax filing season.
All business transactions should be documented, whether on paper or electronically. As your business grows, so does the pile of paper and files your business needs to store.
First, go paperless so all your records are easily accessible. Then, implement a digital document management system that organizes your business documents. Then add a document control system that outlines how often to review and update documents.
Record-keeping isn’t just about putting a smile on your tax preparer’s face. It’s also to comply with document retention mandates.
IRS and Department of Labor (DOL) record retention mandates vary between two and six years, depending on the document. Regardless, maintain all business records for at least seven years.
Some business records, like a nonprofit’s tax-exempt certificates or a business tax ID, never become irrelevant, so always keep them close at hand.
IRS record retention rules apply to records that helped you calculate or justify business income, tax deductions, or tax credits. The DOL requires that you keep any documents that help you do payroll.
The IRS can audit your business’s financial records up to seven years in the past and even further back when you don’t file a tax return or are suspected of fraud. Most CPAs tell you to keep all business documents for at least seven years after they’re no longer relevant.
The most common business records include:
States can further specify document retention rules, so check your state treasury department’s website for more detailed information.
Let software lead in creating small business accounting records, like customer invoices and payroll tax forms.
Most accounting software can generate customer invoices. The software should also automatically help you with the bookkeeping basics, like recording accounts receivable when you bill a customer.
Most accounting software can generate customer invoices. Image source: Author
Your payroll software should take care of creating payroll tax records, such as:
Payroll software generates and files these forms with the appropriate authority, be it the IRS, Social Security Administration (SSA), or both. You can easily search for these forms in your payroll software whenever you need them.
Bookkeeping 101 teaches us to have documentation for all business transactions. Master the accounting basics by making record-keeping part of your small business bookkeeping.
Bank reconciliations help small businesses catch errors and understand their financial position. It’s also the ideal time to make sure you have records for all business transactions.
During your monthly bank reconciliation, match every transaction in your accounting software to a record. As you comb through your business transactions, make sure you have a matching invoice, receipt, or contract.
If your software allows it, store your business records in your accounting software. Intuit QuickBooks Online lets users attach documents to each transaction, so anyone who opens your books can view the associated record.
Attach records directly to business transactions in your accounting software. Image source: Author
We live in a time where data breaches and natural disasters are rampant. Take time to back up and secure your records to avoid catastrophe.
Records stored on paper or on a hard drive should be backed up to at least one other location. Digitize all documents to preserve information that could be lost, stolen, or destroyed.
Storing records on cloud-based software lowers the risk of losing them, but it raises the risk of theft. Your business records include sensitive information, like employee Social Security numbers (SSNs).
When storing business records online, secure your account with a unique and strong password, and enable two-factor authentication.
If you ever doubt whether a business record is worth keeping, save it. Ask a tax professional or attorney when you’re unsure if a record is important.
The IRS usually audits less than 1% of individual and corporate returns submitted, so don’t live in fear of an IRS audit. But if your business is chosen, they’ll require proof for all income, deductions, and credits you report on your taxes.
Without the proper documentation, you may face an increased tax liability and a negligence penalty equal to 20% of your underpayment.
When records are lost or stolen, your first reaction should be to inform anyone whose sensitive information may be at risk. For example, if payroll records have gone missing, inform your employees that their SSN might have been exposed.
If your records are unrecoverable, you should do your best to reconstruct all records that justify business tax deductions. Contact your vendors and financial institutions, who should have copies of your business documents.
If the IRS audits your company, you’re still responsible for proving business expenses claimed on your taxes.
It may seem logical to keep records for as long as you have the storage, but you may delete records that haven’t been relevant to your business for more than seven years.
By downsizing your pile of records, you’re making it easier to search for and review documents you actually need. Consult a legal professional before erasing swaths of business documents.
Accounting can be a challenge for a small business, but an organized record management system can make it easier. When you follow these best practices, you’re setting yourself up for a smooth tax season.
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Ryan Lasker is an SMB accounting expert writing for The Ascent and The Motley Fool.
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