Deadline of PPI set by FCA

Making a claim for mis-sold payment protection insurance (PPI) seems to have been around for ages; however, the Financial Conduct Authority (FCA) is now putting its brakes on the issue, declaring a deadline for any outstanding complaints.

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The countdown begins

As one of the biggest financial scandals of recent years, the mis-sale of PPI prompted the FCA to make sweeping changes to the rules regarding this infamous insurance.

As part of the consultation, a campaign to raise awareness about the changes, paid for by financial services firms, is to take place. According to Insolvency News, a deadline and communications campaign will bring the PPI issue to an orderly conclusion. This will also help to reduce uncertainty for businesses about PPI liabilities while rebuilding public trust in the retail financial sector.

What will you do with the money
If you got a big PPI pay out what would you do with the money?  A lot of people would get a new car, go on holiday or have a few random purchases but the best thing to do is invest in something for example a property. If your going to buy it to rent that make you a landlord. With great power comes responsibility so make sure you check everything is working, in place and safe.  You will want to get a Property inspection app as this will allow you to keep all the info in one place ands keep an inventory.  You can find this type of app on sites including https://propertyinspect.com/

A high price to pay

Although the FCA hopes a high-profile campaign will prompt the remaining claimants into action, it comes with a hefty price tag. It is believed that around 18 financial firms, which receive 90% of all PPI complaints, will have to foot a £42m bill for the campaign.

Despite this, the FCA believes the deadline will give consumers the opportunity to pay off expensive debt and resolve their IVA issues; for example, they may choose to explore an IVA debt solutions provider.

A better process going forward

Although imposing a deadline is a positive step forward to resolving the PPI issue, some industry insiders are cautious about the upcoming process.

Consumer group Which? argues that a two-year time limit may reduce the incentive for banks to pay out compensation quickly in any similar future scenarios.

According to the Guardian, it is evident that banks should improve their PPI complaint-handling processes by making them fairer and simpler. Experts argue that the process for making a PPI claim should be made easier before a time limit is imposed. There is also a call for tighter regulation regarding claims management companies, especially those that flout the rules relating to making nuisance calls.

The FCA would also like to see information published with regard to how financial firms have handled complaints so far and how many cases are outstanding. In this way it can ascertain how successful the time limit will be in achieving the desired outcomes.

Five ways retail stores can develop an emotional connection with their customers

Shopping habits have changed so much over the past decade, with a noticeable shift towards online transactions. The demise of the high street has been attributed to this surge in the number of people buying via the internet.

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But the desire to interact with staff and other customers in a physical store is still alive. With that comes numerous demands on bricks and mortar stores. Customers continually seek out new experiences in store which are tailored individually to them. They want motivated staff offering a first class, professional and friendly service and in store music to provide the perfect backdrop for that visit.

1. Experience over product

The emphasis nowadays is on service over product. Professional, well-trained staff will take time to listen to their customers to gain an understanding of their needs. Often, shoppers may make the choice to purchase online using a price comparison site, so the store needs to put in that extra effort to retain them.

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2. A happy place

Important elements of the customer experience are related to the senses – smell, vision and touch. It’s important to retain the customer and to ensure they connect with the brand. Future stores will be built in an aesthetically-pleasing manner, focusing on layout, design, and that all important ambience. Shoppers will be more likely to post about their good experiences on social media, and that in itself will help spread the image. You can create this with music or perhaps regularly having flower arrangements created by a Gloucestershire Florist such as https://flowershedtewkesbury.co.uk to place in key positions in your retail outlet.

  1. Staff as brand ambassadors

    Key to the success of a brand is to have the right kind of staff promoting it. Positive interaction with customers, possibly referring to them on a first name basis, is good for business and it can build a rapport with the customer, creating a feeling of community spirit. According to https://www.forbes.com/sites/carminegallo/2015/04/10/how-the-apple-store-creates-irresistible-customer-experiences/#2c631edf17a8, Apple demonstrates this all important customer approach.

    4. Shopping is rewarding

    It’s important now more than ever to reward customer loyalty, whether that’s through discounts for future purchases or points to exchange for merchandise, coupons or a sneak preview of new products.

    5. Ensuring the in-store visit is seamless

    Negative news travels fast and it’s especially important to make sure the customer’s visit is as seamless as possible. This could be by ensuring there are plenty of staff available to keep queuing at the till to a minimum.

 

The benefits of financial software for small businesses

After you have made the scary jump into self employment and sorted out your business plan and Office Space Reading way such as those you can see at https://www.arlingtonbusinesspark.co.uk/, it is time to start thinking about how you are going to keep a track of your business sales and expenses.  A significant proportion of small and medium-sized enterprises (SMEs) aren’t using financial software, a recent survey has suggested.

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The survey, conducted by the http://www.uk200group.co.uk/, UK200 group, the association for chartered accountants and law firms, revealed that 65% of their members’ small business clients were still not using a financial software package. This is a concern, given that the government’s Making Tax Digital (MTD) programme, which starts in 2018, requires all businesses to use software that will interface with MTD.

Cost versus benefit

For smaller firms, who may not have as much disposable cash to invest in financial software, the expenditure may seem difficult to justify, especially as the benefits may seem intangible at first. For example:

Accurate accounting

With the automation of data input, simple bookkeeping and invoicing errors can be avoided, meaning fewer accounting problems and losses. This, in turn, avoids problems with HMRC later on.

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Making the best of resources

Accounting software can be integrated into existing systems, meaning it involves very little extra man-hours to work with. Investing in finance software is also a cheaper option than recruiting extra staff to manage the financial side of the business.

Tailor-made

For a little extra, a financial software package can be customised to suit every aspect of a business, from back office to sales. It is important that you ensure that this level of software is needed for your business before you embark on spending costly sums on this kind of system.

A management level overview

Designed to be easy to use, finance software can provide essential information and real-time reporting, meaning that the users have everything they need at their fingertips. With the advantages of improved efficiency and accurate efficiency, investing in finance software doesn’t just make life easier, it gives an SME the resources and room to grow.

For those very small businesses with the most straightforward of financial situations, HMRC has confirmed that free software will be available so that they can provide the barest minimum in financial reporting to meet the MTD requirements soon to be coming in.

For SMEs still considering whether investing in financial software will be cost-effective, the immediate plus is that they will be in compliance with MTD. All that remains is to find the right package that will work for their specific circumstances and requirements

What should be considered before the renovation project

Planning a renovation project is pretty nerve wracking, as well as being incredibly rewarding. It requires self control, patience, determination, and a strict ability to stay within budget guidelines. Here are some important factors that you will definitely want to consider before starting any home renovation project:

Materials – You can’t simply take a trip to the nearest hardware store and buy the cheapest material available. You must consider the cost, strength, building regulations, appearance and impact on the environment. You will want to give good consideration to all of these factors before choosing building materials or you can give yourself a big problem.

Electricity – What requirements will you have in the new room? Should type of equipment needs to be installed, lighting or other large equipment? At the beginning of a renovation project, you should know where the electrical outlets are. That is why it is very important to know what the use of the space will be before you start working on it. To find out more about Builders Bishops Stortford, visit https://www.ashmereconstruction.co.uk/

Noise – Depending on the intended purpose of the room, are there noise considerations? Are you going to install a large home entertainment system? Does the room next to or above the room need to be soundproof?

Plumbing – If you plan to have equipment or water running in the room, you need to find out where the plumbing will be placed and the types of equipment to be installed. Does this appliance require special drainage?

Time – Give realistic thought to how long the renovation project will last. Many people underestimate this and leave themselves unprepared and in awkward situations. You could end up waiting for furniture delivery or experience building delays due to the weather – remember that Rome wasn’t built in a day.

Comfort – Depending on your intended use, how comfortable is the space you want? Will you be using the space for a workspace, playroom, or additional living room? This will affect your choice of flooring, heating and furniture.

Waste – Think about how you will dispose of the waste generated from a renovation project. You won’t be able to do much if your space is full of debris and unwanted household items.

Storage – A common complaint in modern housing is the lack of adequate storage space. Think long and hard about what your storage needs are and factor this in from the start. Do you need a built-in wardrobe or a hidden shelf for example?

Flexibility – Think long term about your renovation and whether it will stand the test of time. Families evolve, needs change and rooms can be required to change from their original use. As much as possible, consider how your future needs may still be included in your plans for today.

 

How to improve efficiency when order picking

As a business, how can you improve efficiency in the process of taking orders to make customers happy and increase accuracy and increase profits? Here are some tips for improving your warehouse selection processes:

  1. Touch an item once: Focus to prevent errors during pickup and you won’t need to repack, or check shipping. The selected inventory must use trucks that are only touched by pickers. Also choose shipping cartons, not laptops.
  2. Rely on system verification: Design your standard operating procedure to re-verify almost every step in the retrieval process. You can loosen this later as needed. For example, use the verification flag select area to scan users and verify LPN, quantity, items, etc. Recalculate or Count Near Zero can also be used to calculate the remaining inventory at a location that is in line with the take.
  3. Think about different storage plans: Adjusting to using a variety of storage can increase efficiency in a warehouse. Slotting, for example can increase storage intensity, reduce accidents or product damage, reduce jams and increase pickup time. Review retention strategies regularly to keep in line with present seasonal demand.

  1. Make a warehouse inside a warehouse: You can get extraordinary efficiency by grouping 20 percent of your SKUs that complete 80 percent of your orders. This saves travel time for your picker. Make sure, however, that the 80/20 area or zone is well designed to accommodate high volume activities.

Consider a different order collection method:

  • Picking in zones: Every individual order picker is given a designated zone and is only to be aware of their own order collection in this zone.
  • Picking in batches: Order pickers are assigned and choose several orders simultaneously, minimizing trips to each location.
  • Wave picking: Variation in zone and group collection. Instead of orders moving from one zone to the next zone for collection, every zone is taken at the same time and the goods are then sorted and allocated into specific shipments or orders.

Consider flexible conveyors: These can be adjusted depending on need and can greatly speed up the process of transportation of items to the required location inside a warehouse. For more information about Flexible Conveyors, visit https://fmhconveyors.com/products/flexible-powered-conveyors/

Consider automation: Order pickers spend about 60 percent of their time running or moving products. Consider automated solutions, such as conveyances, to greatly lower their current excessive travel time. Consider placing additional powered workstations to rid the process of unnecessary steps.

Remove the need for too much walking and lessen tiredness for more accurate picking: We all make more errors when fatigued, and so do your orders for employee selection. Try to stay still, not move and you will see faster retrieval with fewer errors.

Reasons Why Leasing a Car Is Smarter Than Buying a New Vehicle

When driving around the UK’s streets, you may be surprised by the number of new registration plates you see. Whether you are in your old car and hoping it sneaks through its MOT or wondering whether to update to a new model, help may be at hand.

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New car sales are on an upward trend over the past few years, and the impact of new private buyers rather than firms has been noted by the Society of Motor Manufacturers and Traders. What is starting to decline rather rapidly is the used car market.

Financing

Leasing options are proving increasingly popular in the UK, following their success in the USA. Company fleets led the way, but more private buyers are taking advantage of the benefits of leasing rather than taking out traditional financing. Leasing has become the go-to option for many people when it comes to thinking about a new car.

Wherever you are based, options will be available to you as a private leaser. For example, someone interested in Car Leasing Gloucestershire way should look at contacting specialists such as mphvehiclesolutions.co.uk

When buying outright, prices can vary dramatically. Different specs on otherwise identical models can add thousands to the price and confuse the situation. The option of leasing can be much more transparent.

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The idea is that your payments cover the cost to the lease operator of the car’s depreciation over the rental period plus their margin for profit. Upmarket marques tend to retain their value, and hence their leasing costs can be very attractive. Other issues affect depreciation such as fuel consumption and road tax.

Depreciation

Mileage will also impact on depreciation. This needs to be checked before you enter into a leasing agreement. If you are a low-mileage driver, then leasing may offer great opportunities.

Making a bigger down payment on your lease can reduce your monthly payments during the period of the lease.

At the end of the day you are paying for the depreciation of the vehicle but are left with the option of renewing your deal with a new car.

Another plus of leasing is the benefit of factory warranty cover, so you will not need to worry about repairs. As extended lease periods become more popular, the benefits are clear.

The traditional way of financing a new car on credit may not match the leasing option. Once you have done the maths, make the choice.

Disputes arising from your Will

When it comes to the legal world and the world of wills in particular it can become an incredibly emotionally charged time. There are a staggering amount of people in the UK who have still not made a will and without one it can leave their family not only in turmoil at having lost their loved one but also in financial turmoil having to go through probate.

Having a will in place can help to ensure that your assets, estate and any personally significant items are passed onto your chosen loved ones. It is incredibly important to ensure that you create a will by using a trusted professional such as a Cheltenham wills and probate like https://beesandco.com/our-services/wills-writing-service-cheltenham/. This is not only to make sure that your will is legal and filed correctly but also as there has been a significant rise in the number of people who are disputing a will once a person has deceased.

A will can be disputed if a family member or beneficiary of the will does not feel that they have been adequately provided for financially from the will. An act was passed in 1975 known as the Under the Inheritance (Provision for Family and Dependents) Act which allowed selected individuals to dispute the particulars of a will if it left them without proper financial gain. It appears that more and more people are using this act with over 150 people having brought cases to the High Court in London in the last few years.

It is thought that there are a number of reasons as to why the number of dispute claims could be steadily increasing each year. These include the fact that we are living longer which means that people often change their will in later life and this can sometimes cause concern that they were persuaded by a particular individual to submit certain requests or were perhaps not of the same mental capacity as they were at a younger age. Equally the price of the houses that we live in are also dramatically increasing. This means that the sum of money that can be left to individuals in much higher than it would have been 50 years ago. This can lead to disputes by individuals who feel they have not been fairly represented in the will. Finally the dynamic of many families is substantial different nowadays that what it used to be. Many people remarry and some have children from more than one relationship. This can make for tense situations when children feel like the have been left out of a will.

It is for these reasons that you should always consult with a professional will writer as they will be able to talk you through the most commonly seen scenarios and help to prevent disputes between your family arising in the future.

The New Breed of Tech Companies

Companies such as Google, Yahoo, and Facebook have long been known for their innovative attitudes towards their staff. They provide a variety of perks and benefits, as well as more relaxed offices, with a focus on activities, food, and fun. This way of working has started to trickle down to smaller companies, and has finally reached the shores of the U.K, where companies are updating their offices to meet the trend. This way of working can be utilised by companies that have Office Space Bracknell way as their business base as well as those elsewhere in the country. If you are a business looking for a base of your own it is worth taking a look at http://officespacebracknell.co.uk/ to how they can help you and your business.

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What are the perks of working in this way?

An article in The Guardian gave an insight into the way the Google offices work. The grounds feature meadows, allotments, free yoga classes and bicycles to get from meeting to meeting. The buildings and surrounding areas are designed to make people feel relaxed and happy; to make the workplace somewhere that people want to be. Google also prides itself on flexible working hours. It allows people to work from home or provides childcare for on-site staff together with long maternity leave.

Sounds amazing … and over on The Business Insider there’s a virtual tour of Facebook’s London offices, showing the motivational posters on the wall, chill out meeting areas, and even a roof terrace with a BBQ.

It’s no secret that trendy Shoreditch is the hub of innovative tech companies in the UK. Visit many offices in the area and you will find relaxed staff having meetings in coffee shops, or enjoying breaks in which they can do fun activities. This new style is spreading around the country too, with some companies stating that their staff can often be found competing in ‘impromptu ping pong battles’.

Is this way of working here to stay?

Having this relaxed and fun atmosphere is sure to breed creativity and employee loyalty. Creativity can be sparked by a change of scenery, or mixing up the way meetings are held. Facebook employees are more likely to come up with innovative ideas if they are being challenged in new and interesting ways. It seems this ethos is becoming more and more popular in the UK. At the moment, it is found mainly with tech companies, but this is sure to develop across other industries. It is a strategy that has worked well for US tech giants and sounds like a great model to follow.

Rethink your industrial storage with these steps

If you have an efficient, well planned industrial storage, you will save money on storage costs and it will be very easy for you to remove and replace items. However, on the other hand, if you have a poorly planned industrial storage space you may find that you are spending more money than you need to on storage space.

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Here are four ways to rethink your industrial storage space so that it is efficient and easy to manage.

Pre-allocate certain goods

Instead of having designated storage locations for different types of DCs, set one common inventory that you can use for all deliveries. This means that the product that are sent to stores and the products that are sent to customers are all stored in the same place, helping to reduce the overall amount of storage space that you use.

Consider cross docking

Cross docking is a popular subject for industrial storage managers, and this is because it can vastly reduce the amount of inventory in your warehouse – https://searcherp.techtarget.com/definition/cross-docking. Cross docking uses advanced shipping notices and a detailed plan to ensure that some deliveries are sent out as soon as they arrive, so they don’t need to spend any time in the industrial storage. This frees up space for other products while maximising efficiency.

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Try pallet receiving if you regularly use pallets

Pallet receiving is another useful tactic that can help to make your storage space more efficient. If you receive goods on a single pallet, you can reroute the goods to storage and then use the pallets in your rack layout. This means you don’t have to worry about breaking down the pallets or re-handling the cartons. This is very useful for busy warehouses that receive most of their goods on pallets.

Automate busy storage spaces

If you have any particularly busy storage spaces you could consider using automated solutions to speed up the progress. For instance, you could scan product information straight into a WMS (warehouse management system) as the items are being loaded, giving you instant visibility. This will make it much easier for you to decide where the products should be moved to, speeding up the whole unpacking process and making it more efficient.

Off course if your business is doing really well and you can’t keep up with demand you could either get a second location or move to a bigger unit. To see what options you have why not sort through choices like Warehouse Space London companies on sites including http://uplands-e17.co.uk. They have flexible space configured to your requirements.

What struggles do chefs deal with at work?

Many TV shows have glamorised the role of the chef, but it’s not all about serving up delicious cuisine. Here are some of the common struggles that many chefs have to face.

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Unsociable working hours

Chefs don’t tend to work regular, 9-5 hours, which can impinge on your social life. According to Chefs World, chefs often work shifts, and may have to put in overtime during busy periods. Many chefs work late into the evening, and during weekends and bank holidays. Even on a planned day off, you may be called in to cover a shift or solve a particular crisis.

Getting injured

Following strict health and hygiene rules is vital in any kitchen, but a chef is still prone to hazards that can result in injuries. Getting cuts from knives or other sharp objects is often part and parcel of the job, especially when working quickly under pressure.

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Starting at the bottom

Few chefs begin their careers preparing the main dishes. Instead, many chefs start out doing basic, repetitive tasks that may not even involve cooking. This could be chopping vegetables, cleaning surfaces, unloading deliveries and placing stock in fridges or commercial wine coolers, or even washing up. In order to do the tasks you want to do, you need to work your way up and get experience behind you.

Negative reviews

You’ll never please everyone with your cooking, and so, at some point in your career as a chef, you’ll be exposed to negative comments about your food. If this gets published online on a review website, this can be crushing, and might not do your establishment’s reputation any favours. On the other hand, positive reviews can be a boom for business. The other thing you might get bad reviews for is your bathroom facilities and what you provide within them. This can be make a break for business as there are legal requirements to meet. If you need a Washroom service provider Gloucestershire company to come in and help, you could try somewhere like simple hygiene solutions who are trained in this area. Turn your potential frowns upside down.

Dealing with paperwork

Being a chef isn’t just about rustling up delicious meals, especially if you run your own venue. There’s a lot of paperwork involved in the job, which includes ordering stock, paying staff wages and balancing the books.

Cooking outside of work

The problem with working as a chef is that, when it comes to family mealtimes or gatherings, it will be inevitable that you’ll be the one chosen to rustle up the food. This can be a good thing, but if you fancy a night off from cooking, it might not go down too well with others.