Common Forms of Vendor Fraud

Vendor fraud is one of the biggest dangers facing businesses today.  Small businesses are at risk because they can be completely wiped out by a single case.  Meanwhile, big businesses make terrific targets because it is easier for the fraud and its effects to slip through the cracks.  The ways that businesses can protect themselves is through awareness and proper controls.  However, most businesses that fall victim to vendor fraud do so because they are unaware that the problem even exists.  Being aware of how this criminal activity is perpetrated and where a business is vulnerable is the key to being able to prevent it in the future.

Some of the more common forms of vendor fraud include:

* Shorting shipments or services – Just because a business agrees to terms on a deal does not mean that those terms will be honored.  Especially in cases where payment is made prior to receiving ordered goods or services, there are rampant examples of only portions of orders and services actually being delivered.  Companies who engage in this fraud typically depend on the cost of taking legal action against them being greater than the cost of what was not received. 

* Overcharging – This describes vendors who charge significantly more for a product than could be received elsewhere.  This typically takes place in industries where total price is determined after the fact (e.g.

construction) or with vendors who deal with businesses who may be ignorant of their industry and will accept any offer that "sounds fair" regardless of the fact that it is much greater than the going rate.  Knowledge and research are the greatest weapons against this type of fraud.

* Inferior Goods – We can liken this to the used car salesman who sells the customer a car only to have it breakdown two miles down the road.  Unfortunately, this type of activity is not limited to used car salespeople and lemons.  It is pretty common for businesses to get ripped off for inferior products when using a new vendor the first time.  By cutting corners on his end, the vendor has saved money in his cost of production which leaves the customer with the choice of putting together what they know will be an inferior product or to go to a different vendor for greater quality, essentially paying double what they should have.

Unfortunately, a great deal of this fraud actually involves a company's own employees.  Some of these schemes would never be able to get off the ground without some help from the inside.  Common forms of vendor fraud that use an internal 'mole' include:

* Shell companies – This is a situation where employees who can control or affect payments will setup a fictitious company and make payments to it, essentially embezzling money to themselves.  Their strategy to get away with this depends on one of two things: their employer is too big or has too large of a volume of payments to catch the occasional stray dollar amount or there is no oversight into payments made and as long as the books are not completely out of whack, nobody will notice (one would be surprised how often this occurs).

* Kickbacks/Bribes – This typically occurs in conjunction with one of the aforementioned items.  In this case, one of a business' own employees will select a vendor that engages in overcharging or selling inferior goods even though there are better suppliers available.  They do so because the fraudulent company gave them a bribe to do so.  Employees will often feel less guilty about this type of behavior because they are not actually the ones providing the poor end service – but they might as well be.

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Green Packaging Companies

Are you worried that the packaging that you are using is not environmentally friendly? Well you should be, as it is in all of our interests to pay attention as to what packaging materials we are using today in our business.

Indeed these days you may find that if you are not using enough recyclable packaging then your company is getting taxed extra for it. The same applies to recycling packaging from goods that your company buys in, if you are not recycling the packaging then the chances are you are paying more in landfill tax than you need to, as you are charged for every ton of waste that goes into the landfill, so every bit you recycle saves you money. But when it comes to thinking green then where do you start?

Well first of all you need to take a look at the company you are buying your packaging materials from. Examine their environmental policies for a start - indeed the first thing to do is check that they even have one.

If not then seriously think about using another company, as no environmental policy does somewhat show a lack of respect for the environment.

First of all do they have set targets for how they go about recycling their own waste products? Secondly how much of the packaging they supply you is made from recycled materials? Around seventy five percent is a good target.

Does their paper and cardboard come from managed resources e.g. when a tree is cut down to make paper, is another one planted in its place? A good packaging company will use sustainable managed companies wherever possible.

Do they proactively look at new forms of green packaging and then suggest them to you as the customer? If they do then this is a very good sign.

Do they proactively segregate their waste packaging? Such as splitting out their cardboard waste, waste paper, plastic packaging and aluminium.

If a company does this then it should be reflected in the prices that they offer to you as a business. 
All of the above are things that you should be looking for in a modern packaging company.

Thinking green is not just good for the environment but it saves you money as well.

The less you send to landfill sites the less money you will pay out on rubbish disposal.

So when it comes to choosing a packaging supplier then have a good look at the environmental policies that they have in place.

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Emotional Profit

There's a concept. Too often we neglect the emotional profit that can be and NEEDS to be gotten from practice. And there is more good news that I'll get to later.

All of us, you and me, and our colleagues became dentists not so much for the income (although that is darn important, especially now) but because of the desire to help others, to make a difference. Had we wanted to be in a business rather than a profession, we could have gone off and done that.

But no, we went through the struggle and difficulties of becoming dentists. It wasn't easy. Now that we are dentists, it still isn't, although in a different way that when we were in the process of becoming dentists. Private practice brings its own challenges. This is about looking at those challenges in a different way.

We have all had patients who were so good to work with, appreciative and helpful to us as we delivered care.

These patients are a treasure. They "make our day." It is these patients that make us glad we became dentists. They are so notable because there are too few of them, wouldn't you agree? Would you like to have more of them? If you said yes, keep reading.

There are all sorts of profit. Of course, there is the financial one. We all want that. And I say we all want emotional profit, too. It is one of the prime reasons we became dentists.

What is emotional profit? It is the not quite quantifiable sense of having made a contribution that matters. It feels better when that contribution is recognized. In fact, it feels so good that many of us give away our services just to get that feeling of making a difference, of being appreciated.

One would think that our patients/clients would naturally recognize their role as the recipient of out expertise, care, skill, judgment and goodwill to give out the warm "fuzzies"  that are the emotional lifeblood of being a professional.

Alas, they do not. A small percentage get it, whether by luck, prior parenting or some good fortune. The vast majority do not.

This leaves you in a conundrum. You know that you do your best care for those who show their appreciation for what you do. This is human nature. You also know that there is nothing quite like a patient that makes you feel good about your services. Right?

 What can you do rather than hope for the emotional and financial profit?

HOPING IS NOT A STRATEGY THAT WORKS.

What if there is another way?

Hint: there is.

Just as you take certain actions to ensure that you get paid and make a profit financially, there is a like system for ensuring you get paid emotionally for the care you give.

Wouldn't it be nice to have that emotional pay system in place?

Let me make this statement too. This also means that you are getting your financial rewards, too. In fact, they go together. (Of course, we all provide pro bono work from time to time. It is part of the duty we have. To whom much is given, much is expected.)

How do you ensure that you get your psychic pay, the emotional pay that that we all desire? The first thing to know is that this does not mean charging less or giving dentistry away. It means getting the financial and emotional rewards of practice.

So how?

Stop waiting for it to happen and make it happen. (Hey, this applies to lots of things, huh!)

Waiting for something good to happen just isn't viable long term.

While it is nice to win the lottery, waiting and hoping for that to happen is NOT a way to a successful life.

So how does one ensure that one gets the emotional pay that is due?

1.Give It First

A wood stove requires wood and a fire to give out heat. Yet most folks are waiting by the stove expecting it to put out heat without the requisite contributions of wood and a match to get it going.

Appreciation and admiration are similar. You give out to get back.

There is not so surprising news here. Giving out that emotional pay the other wayfirstdoes warm and nurture those that receive it when done genuinely. Most people are so lacking in appreciation and admiration that they have forgotten how to give it out. The good news is that you can start that appreciation and admiration fire for them and eventually they'll start giving it back. Some take longer than others so don't expect a direct expression back right away. Some are so chilled from a prior lack of appreciation and admiration heat that they have a difficult time giving it out for quite awhile. But the vast majority catch the fire and get it going pretty quickly.

Thanksgiving is certainly a national version of "Let's Appreciate." But on a daily basis, the average homo sapiens somehow misses the value of originating the words that people so need. Now some need them more than others. Most dentists are introverts so they need less. (But it sure feels good when one gets it, huh!) Most team members are extroverts and need more.( suggestion: feed them the words they so need and just watch how they respond!)

You need not wait any longer, hoping for someone else to recognize, appreciate and admire you. You can become an Appreciation Philanthropist immediately. It costs you nothing. Moreover, your giving has its own princely reward. The giving of appreciation, admiration and recognition generates its own fire within you. It just feels good to help others feel good about themselves. You can make your own warm glow!

The miracle of appreciation, admiration, recognition and love is that it expands – the more you give, the more you get.

 Thank you for all that you do to help and make a difference.

Best,

Charley

Copyright 2010 Charles W Martin

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The importance of business philanthropy

Business owners, especially in a down economy, are so involved in making their numbers, that they probably do not give much thought to asking about business philanthropy.  Why is it important?  As it does not directly add amounts to the bottom line, why be involved in it?  If you are a family owned business or a closely held corporation, you may be wondering why is it important to you?  Are your philanthropic efforts all giving to the charity (certainly, a good cause) or does your firm get something back from all of your efforts or donations?

It has been said that business philanthropy is one of the most effective ways to teach children family values (if you are a family owned business and your children are involved in the business) or establishing the culture of the company and its values (if you are a closely held company).  A company that makes business philanthropy a part of who they are has a value that goes beyond just dollars.  They are acknowledging that they are part of the community that supports their business and want to be involved in that community and give back to it.  Through our philanthropy efforts, business owners address issues or needs in the community that government is unable, unwilling or not well suited to address adequately. 

Part of the corporate culture and values for the business may be the underpinning that after achieving financial security for the business owners and their families, that success brings with it an obligation of sorts to share that success with others.  This may emanate from civic responsibility (businesses who want to be good corporate citizens), a moral or religious conviction (businesses who "give back" to the community do it because it is the right thing to do) or leaving a lasting legacy as the business tycoons did of earlier generations, such as business owners in Chicago who established many of the museums that we have come to enjoy (Field Museum, Shedd Aquarium, just to name a few).

In a closely held business or family owned business context, the business can institute a regular pattern of giving money, inventory or other property directly to certain charities.  For instance, companies in the food business may regularly give food the various food pantries.  Or the company may set up a matching gift program to benefit charities supported by their employees.  Some companies have set up their own foundation to aid the communities in different ways.  Other companies may have a donation program to The United Way, which is deducted from the wages of employees who elect to participate and those donations may be matched by the company.

Another method of supporting charitable organizations in the community may be to give employees "charity days" where the employees volunteer their time to a particular charity to do various things that may range from being a mentor to troubled children, to painting or updating the facility where the charity is located to acting as volunteers as a community event.  Any activity of this nature will reinforce the company's value system, as well as to give the company visibility in the community.  In addition, although this is not why a company might have this as part of their value system, consumers might buy from that company more regularly, knowing that the business supports the community in a number of ways.

If a charity that the company normally supports asks one of the company's midlevel or upper level managers to service on that charity's board of directors or on committees for the charity, it is a good opportunity for those managers to use their skills that they have acquired in that for-profit business and upgrade the methods used by the not-for-profit business.  It is an honor to serve in that way and each employee gains the respect of those in the business, the charity and the community.  He or she meets valuable contacts which may be helpful for the business in the future.  Because that employee may be making substantial decisions with respect to the direction that the charity may go, this experience may make those employees much better managers of the business that they work in on a day to day basis.

While the primary motivation for a company's involvement in business philanthropy may be civic responsibility, establishing a corporate culture that embraces such value, it is apparent that participants in business philanthropy more often than not get back much more than what they put in, both in experience and satisfaction.

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Icelandic Car Rental Industry: Healthy Vs Unhealthy Competition

Less then 15 years ago only a handful of businesses offered car hire and car rental services in Iceland. I didn''t experience it myself but I hear from others that it was the golden age of the Icelandic Car Hire Industry (yes, that was a joke).

But things changed. Iceland became a popular tourist destination, insurance fees and government licence became easier to obtain, and other industries in Iceland became less rewarding which made a lot of people change their business direction. It is a fact that every Icelander has a entrepreneurial spirit. In other words: there seems to be a lot of people wanting to be their own boss (maybe it's got something to do with our inability to be bossed around).

Anyway, a lot of new companies, franchises and people, started their own car rental business, bought a couple of cars and started renting them out to tourists.

Some of these businesses had the licence needed for running a car rental operation. Other's didn't.

The increase in competition was perhaps no-greater in any sector of the travel industry in Iceland as in the car hire biz. Competition is healthy and good for the most part. It helps the consumer get better prices for products and services and keeps the businesses on their feet with regards to quality and service standards.

However, the disappointing thing was, and still is, the governments lack of action against those who hadn't obtained the required licences and paid their rightful dues. Competition is all good, as long as it is healthy.

Healthy competition, simply put, is when competitors within the same industry share a common legal infrastructure. They have to pay for their licences, their insurance and of course, pay their taxes.

Unhealthy competition is exactly the opposite, or where competitors operate outside the legal infrastructure, don't pay for their required licence or insurance fee's, which is essentially only in place to protect the consumer and the company.

What this means is that the alien companies can offer the same service at a much cheaper price, whereas their competitors have to keep their prices at a certain rate to make a certain profit after the traditional licensing and insurance costs.

As well as being unhealthy competition, it is of-course illegal and ultimately, it will be the customer who pays the price.

You hear these stories about travellers who are happy to rent cars from business who run car rentals on the side (such as hotels, tour operators, hell even ordinary citizens!).

But when push comes to shove and the car breaks down in rural South Iceland with more than 90km to the next village, you will regret not going for the safe and legal option of renting a car.

Let this be a lesson for every industry and every consumer: when you take these types of shortcuts, the good guys get hurt.

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Cleaning the Ceiling and Air Ventilator

When you say cleaning and maintaining the cleanliness of all areas of the workplace, it should really mean all.  This includes not only the floors and the walls, but this should also include one of the most overlooked areas of the kitchen – the ceiling as well as the air ventilators.

What You Need

The materials that you will need to clean the ceiling and air ventilator include a ladder, a ceiling broom, a hand brush, cleaning detergent, clean cloth, and water for rinsing.  You will also need goggles as well as gloves to protect not only your eyes but hands as well.

Air Ventilator

For the air ventilator, you will need to use the ladder, so make sure that it is very sturdy and very stable so as to prevent any accidents or mishaps from happening.

The first thing that you need to do is to remove the air ventilator from the ceiling.  After all, it is so much easier to clean the air ventilator when it is taken down.

Wet the hand brush or the scouring pad with water and then pour in a small amount of detergent.  Do not use too much detergent though as it could make rinsing difficult.  Plus, you will be wasting water, detergent, and money if you do so.

With the wet hand brush or scouring pad, gently but thoroughly wash all the areas of the air ventilator, making sure to remove traces of grime and dust.  Once done, rinse it off with clear water, making sure that there are no traces of detergent left on the air ventilator.  After this, thoroughly wipe the air ventilator off with a clean cloth.

Ceiling

Before you clean the ceiling though, make sure that the kitchen equipments, appliances, units, items, etc.

are protected with drop cloths.  You should also protect the counters, ovens, grills, anything really that needs to be protected from the dust and grime of the ceilings as well as from the drips.  Also, you should always clean the ceilings before you clean the walls and the floors so as to save money, effort, and time.

Furthermore, before you clean the ceiling, make sure that you are wearing goggles and gloves.  The goggles will protect your eyes from any drips that might fall over your face, and the gloves will protect your hands from the detergent.

As for the ceiling itself, you need to use the ladder to reach hard-to-reach areas as well as the ceiling broom to remove cobwebs.  You could also use a vacuum brush to lessen the risk of cobwebs or dirt falling unto any of the surfaces below.

Next, dampen a clean cloth with water and detergent, squeeze it hard to remove any excess fluid, and scrub the ceiling.  Make sure that there are no drips dripping down the walls, unto any of the surfaces below, or on the floor.  After this, wipe the ceiling off with a dry cloth.

When you are done cleaning the ceiling, be sure to reassemble the air ventilator and place it back on the ceiling.

Last, tidy up the area.  This includes wiping off any drips that might have dripped down the ceiling or unto any of the surfaces below.  This also includes wiping the floor off any water or detergent that dripped down from the ceiling.

Cleaning the ceiling is not an everyday activity or one that needs to be done every after shift though.  However, the ceiling should be cleaned regularly so as to avoid grime, dust, and cobweb accumulation.

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Requirements for a good service for the global financial activities

complyin Join with local regulations mainly to prepare and submit financial documents necessary to the proper government agencies do and die, important documents, but it is not to be kept in the relevant language is written. Translation of financial documents, then make an important contribution to the success of global operations a "business. The SAU several factors to consider It affects the quality of a translation financial technology

. Major

As for the translation language required for the legal, medical and other specialized fields of high technology, quality financial services can only be successful Performed by translators who are very knowledgeable about finance. Therefore, common practice for providers of translation services so I am happy to use experts who are dealing with financial and business terms of different cultures and languages ​​

. updated on the latest standards

law, especially Mandarin It pertaing in commercial trade and other economic activities are sometimes amend.

It is not Uncommon new regulations also arise once in a while. The industry is a financial services environment and business liquids to keep up with changes in global and local. public company with a base of operations such as in the United States Must Be Aware That The impact of Sarbanes-Oxley Act in 2002 would have provided ITS audits. Translation resources the service must be updated as I pleased that development affects the accuracy and quality control of their output. fast delivery

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with other service providers, financial professionals can offer natural, promises fast and accurate rotation.

When signing someone for their services, you should see consideration for their project management and quality assurance systems. Ask yourself if they have a realistic understanding of the challenges of complyin with the provisions of a national legal and financial. In fact the officials financial translation as a node in the audit process, continuous in Taking and giving information. Public companies can ill afford a bottleneck at this important intersection with the horizon of a term compliance approach. proper use of tools

Ability resourceful and financial service providers will use the tools available and to accelerate and maintain appropriate quality of work of the ITS. financial documents often contain repeated. Fortunately, there are software applications that resolution of the tasks can be tedious in the type of service Art. A translation memory programs such as building a database of translation of a report that previous translators can automatically access and recall. This death that makes the term now Kien acceptable use, quickly modified in the future can be made, and the cost of translation is Reduced

. Process Technology

High accuracy of the information and the clarity of the presentation is natural Paramount in financial documents. Terms of false or inaccurate can easily lead to confusion and negatively affect the trading or approval. The important thing to remember here is that we, however, I was one of the company be held responsible for the accuracy and not the translation of financial services. They are primary responsibility for their agents, and that is to super-vise on their representatives and other Associated Entities. This is another reason to evaluate the process management and quality management system of the service

. Ethics

Needless to say, the financial statements, studies, contracts, production and other similar documents are sensitive materials. Established to comply with strict ethical standards is therefore a substantial financial requirements in the translation. This can be gleaned from production and other confidentiality regulations on privacy laws as well as from trade rules that Deal with honor and fair trade principles. There is no fool proof method to ensure that behavior can have a translation service provider. But we still have to check references and reputation of the agency within the Industry

.