Global Economic Crisis, Recession, Credit Crunch are the words that frequently heard these days, especially in business and economists forums. Will this “Crisis” have any impact on our country and local businesses? Some economists argue that we are already experiencing the adverse effects and worse yet to come while the high ranking public officials think otherwise. Though the numbers can be interpreted in different ways, we believe it’s crucial that the decision makers in local business community should be aware of what’s happening around them for their own good as well as for the sake of our countries economy at large. Invariably this is an extremely broad, complicated “Topic” with numerous different views, arguments and interpretations.
In this edition of our e-newsletter we would like to share a few thoughts related to this “Hot” topic, and invite the Entrepreneurs and senior managers to give a look.

Small is Beautiful
The experts say that the small businesses will be more resilience to the current adverse economic conditions and have more chances to safely sail through the rough waters. This is definitely a ‘good news’ for countries like us where stark majority of the businesses (almost all) fall in to the very same Category in international standards. The ability of ‘Small Businesses to change and adapt to a context relatively quickly, has recognized as the reason.

Innovations hold the key
Innovations will play a major role in the success of businesses in this troubled times. In fact innovations are expected to play a main roll in the recovery stage of global economy which some experts predict to start some where in the latter part of this year.

Risk Management
The time well and truly has come for the concept of Risk Management now. Risk management is not a synonym for Risk Averse.

Look for Opportunities
Even in the trouble times, businesses do get windows of opportunities to explore. Volatility in the international currency market is one such opportunity that some of our local entrepreneurs can exploit. Most of the foreign currencies have depreciated remarkably. One such example is the Indian Rupee. It has depreciated around 25 -30% within a year. The local importers now can bargain for a better price from their Indian producers, demanding to pass a substantial percentage of the gains they acquire due to the exchange rate depreciation.

Eliminate chances of frauds
A recent International survey report reveals that 85% of the companies have suffered at least one Fraud in the past 3 years. This quantifies the amount of threat posted by frauds to companies.

Control and Information
Companies need a system for control and to have necessary Management Information to handle all above discussed matters effectively and efficiently. So in short, it’s time to utilize your computerized “Management Information System” to its full potential.

ADK group, arguably the no 1 consortium in Maldives signs a MOU with PBSI, the international arm of PBSS for their business software solutions. ADK is a diversified entity and the leader in the Healthcare sector with ADK Hospital, the first and the largest private hospital in Maldives and ADK company (Pvt) Ltd, the largest pharmaceutical Importer and Distributor. Other than the healthcare, ADK group is having ventures in Shipping, Telecommunication industry involving cable TV network, Electronics and Electrical Appliances business, Travel & Leisure industry and they own and manage Gaakoshibee Island resort and are in the construction Industry as well.

Mr. Madura Gamanayake , Managing Director of PBSS signed the MOU with Ms. Fazla Hassan ,Managing Director of ADK Company (Pvt) Ltd.

The Ceylinco Takaful and The Finance Company Agricultural Credit Services Ltd are the 7th and 8th Ceylinco Group companies in our clientele so far. With the collaboration of Ceylinco IT (Pvt) Ltd, PBSS provides an integrated system to those two companies. PBSS will link the Sage Peachtree as the back end to the front end software developed by Ceylinco IT.

Procurement Management Module is the latest module added to the already long list of modules in the Evolution ERP version 5.01

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