Almost every business uses computers to complete daily tasks. From making contact with clients to inputting data for reports, computers allow businesses a more efficient way to manage affairs when compared to traditional paper and manila folders. Businesses use a variety of different types of computers such as desktops, laptops, servers, smartphones and tablets, depending on their needs. With computers, employees are able to work anytime, anywhere.

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CommunicationCommunication is key when gaining and maintaining clients and other important contacts. Computers give businesses access to email, instant messaging and custom customer contact systems. Computerized phone systems allow for automated support during off hours and a virtual operator can quickly direct callers to the correct department for faster support.

MarketingComputers allow businesses to create websites, stunning ads and complete marketing campaigns. Marketing videos can be edited and custom ads created in-house with the use of specialized software. Businesses can completely develop and manage websites with their own servers or connect remotely to a third-party business to upload their latest content such as articles, product images and blog posts.

Related Reading: How Computers Are Used in Business ManagementAccountingAccounting without computers presents a high risk for human error. Accounting software allows businesses to simply input their financial data and instantly see gains and losses. All necessary tax reports are available the moment the data is entered. Using computers for invoicing, managing expenses and calculating payroll is vital for ensuring financial data is as accurate as possible.

StorageInstead of filing cabinets, businesses are able to store millions of files using computers and servers. Data can be stored centrally for easy access from multiple computers or stored locally for individual use. Computerized storage saves space and provides a far more efficient organization strategy. With encryption, passwords and replace keys, data remains secure.

Documents and ReportsMost businesses have some sort of productivity software which typically includes a word processor and spreadsheet application. These two programs allow businesses to create reports, memos, tutorials and even colorful ads for company events. Spreadsheet applications give businesses the chance to organize, manage and calculate both numeric and alphabetic data. With charts and graphs, reporting becomes visual instead of text-based.

EducationBusinesses use computers to help educate employees on software, company policy, standard procedures and safety. Instead of hiring teachers, computers can be used to educate employees at their own pace or through an online webinar with live questions and answers. This form of education fits the busy schedules of businesses without sacrificing the quality of the education.

ResearchFrom learning more about the competition to discovering what customers really want, research isn't as difficult as it once was, thanks to computers. Search engines, forums, social networks and industry specific websites provide businesses with a wealth of information and research data.

ADVANTAGES

OrganizationComputers allow the application of different types of software that can help businesses keep track of their files, documents, schedules and deadlines. Computers also allow businesses to organize all of their information in a very accessible manner. The ability to store large amounts of data on a computer is convenient and inexpensive, and saves space. A computer's ability to allow a company to organize its files efficiently leads to better time management and productivity.

Self-SufficiencyComputers have made staff and companies more self-sufficient by allowing them to do tasks that previously had to be outsourced. For example, a company can now use office software to create their own training material. Desktop publishing software can be used to create marketing materials. Online tax and accounting programs allow companies to prepare their own taxes. This allows the dominant operations of a company to remain in-house and empowers the company to become more independent and less susceptible to errors committed by outside parties.

IMP OF COMPUTER SOFTWARE

The main advantages of a computerized accounting system are listed below:

Speed – data entry onto the computer with its formatted screens and built-in databases of customers and supplier details and stock records can be carried out far more quickly than any manual processing. Automatic document production – fast and accurate invoices, credit notes, purchase orders, printing statements and payroll documents are all done automatically. Accuracy – there is less room for errors as only one accounting entry is needed for each transaction rather than two (or three) for a manual system. Up-to-date information – the accounting records are automatically updated and so account balances (e.g. customer accounts) will always be up-to-date. Availability of information – the data is instantly available and can be made available to different users in different locations at the same time. Management information – reports can be produced which will help management monitor and control the business, for example the aged debtors analysis will show which customer accounts are overdue, trial balance, trading and profit and loss account and balance sheet. GST/VAT return – the automatic creation of figures for the regular GST/VAT returns. Legibility – the onscreen and printed data should always be legible and so will avoid errors caused by poor figures. Efficiency – better use is made of resources and time; cash flow should improve through better debt collection and inventory control. Staff motivation – the system will require staff to be trained to use new skills, which can make them feel more motivated.  Further to this with many ‘off-the-shelf’ packages like MYOB the training can be outsourced and thus making a particular staff member less critical of business operations. Cost savings – computerized accounting programs reduce staff time doing accounts and reduce audit expenses as records are neat, up-to-date and accurate. Reduce frustration – management can be on top of their accounts and thus reduce stress levels associated with what is not known. 

Why utilize business accounting software for your business?

Business accounting software solutions help small and midsized businesses keep track of their financial transactions. They offer the following advantages:

Maintain a proper record of all financial transactions that take place. Accounting software solutions also help with regulatory compliances and this is a

major pain point for most small and midsized businesses. Integrated to all the modules that are used to perform business and thus no entry or

transaction is missed. Account statements can be generated in just a few clicks.

HDPOS Smart Financial Accounting Features

HDPOS Smart offers complete Financial Accounting along with billing and stock management.

Auto generation of certain financial accounts when you get started with HDPOS Smart. For example: sales account, purchase account, petty cash account, customer account, supplier account.

When a document is created, for example: sales invoice - A financial transaction with credit to sales account and debit to customer's account gets effected automatically.

Being an accounting software solution, HDPOS Smart also lets you create your own financial account like electricity bill account, water bill account apart from auto generated accounts.

Categorization of each account in two types is possible: Profit & Loss or Balance Sheet account.

Maintain your bank details along with account numbers.

PM launches Start-up India movement, unveils action plan for encouraging Start-ups

The Prime Minister, Shri Narendra Modi, today launched the Start-up India initiative in New Delhi. The launch by the Prime Minister this evening, was preceded by a day-long workshop on various aspects of entrepreneurship. 

The Prime Minister visited a virtual exhibition and interacted with Start-up entrepreneurs. 10 outstanding Start-up innovators shared their thoughts and experiences before the Prime Minister delivered his address. He said that when he had launched the Start-up India Initiative on 15th August, the announcement had virtually gone unnoticed, but today it had registered with people. 

He said successful start-ups are usually created by those who are driven by an idea, or an urge to solve a problem that people

face. He said making money is not the primary objective, but is often a by-product. He said Start-up innovators are often driven by a sense of compassion for others. 

The Prime Minister said he wishes to turn the youth of India from job-seekers to job-creators. He said if a Start-up can offer employment to even five people, it would be doing a great service to the nation. He mentioned some areas where youth innovators should focus, including crop wastage, and cyber security. 

The Prime Minister unveiled the highlights of the Start-up Action Plan. He said a dedicated Start-up fund worth Rs. 10,000 crore will be created for funding of Start-ups. 

He said Start-ups will be exempted from paying income tax on their profit for the first three years. He said the Government is working on a simple exit policy for Start-ups. He also said the Government is working towards fast-tracking of Start-up patent applications. 

He announced an eighty percent exemption in patent fee for Start-up businesses, and said a self-certification based compliance system for Start-ups would be introduced for 9 labour and environment laws. He said the Atal Innovation Mission will be launched to give a boost to innovation. 

Here are the 10 biggest points from the announcement:

1. Tax exemptions for three years and concessions on capital gains tax.

2. Compliance regime based on self-certification and no regulatory inspection for three years.

3. A fund of Rs. 10,000 crore to back startups. Initially the corpus will be Rs. 2,500 crore. Also, a credit guarantee fund

for startups.

4. A Startup India hub - a single point of contact for interactions with the government.

5. Atal Innovation Mission (AIM) for promotion of research and development including 500 tinkering labs, 35 public-

private sector incubators, 31 innovation centres at national institutes, 7 new research parks, 5 new bio-clusters.

6. 90 days for a startup to close down its business.

7. 80 per cent reduction in patent filing fee and fast-track mechanism for startup patent applications. Also, a panel of

legal facilitators for startups to file IP (patents, designs, trademarks) with costs borne by government.

8. Relaxed norms of public-procurement for startups. No requirement of turnover or experience, but no relaxation in

quality.

9. 5 lakh schools and 10 lakh students to be involved in core innovation programmes. National and international startup

festivals to provide visibility.

10. A mobile app to be launched on April 1 making it possible to register startups in one day.

Make in India is an initiative of the Government of India to encourage multi-national, as well as domestic, companies to manufacture their products in India. It was launched by Prime Minister Narendra Modi on 25 September 2014.[1]India would emerge, after initiation of the programme in 2015, as the top destination globally for foreign direct investment, surpassing China as well as the United States.

Zero Defect Zero Effect" is a slogan coined by Prime Minister of India, Narendra Modi which signifies production

mechanisms wherein products have no defects and the process through which product is made has zero adverse

environmental and ecological effects.[48] The slogan also aims to prevent products developed from India from being

rejected by the global market.[49]

Aarisa Pitha of Odisha, Gushtaba of Kashmir, Chicken Curry of Punjab, Khakhra and Khandvi of Gujarat, Bamboo

Steam Fish, Vada and Medhu Vada of Karnataka, Khaja and Inarsa of Bihar and Kebab of Uttar Pradesh and Puran

poli ofMaharashtra have been selected as traditional regional food to be promoted in the campaign.[50]

The 35th edition of the India International Trade Fair (IITF) held at Pragati Maidan in November 2015, had Make in

India as its theme.

The main objective is to create a business friendly atmosphere in Maharashtra by increasing ease of doing business as much as possible. It's main target is to increase foreign direct investment and local investment in the region to further increase industrialization in Maharashtra.

(FDI) in India is the major monetary source for economic development in India. Foreign companies invest in India to take benefits of cheaper wages and changing business environment of India. Economic liberalisation started in India in wake of the 1991 economic crisis and since then FDI has steadily increased in India.[1][2]According to the Financial Times, in 2015 India overtook China and the US as the top destination for the Foreign Direct Investment. In first half of the 2015, India attracted investment of $31 billion compared to $28 billion and $27 billion of China and the US respectively

The Government of India has amended FDI policy to increase FDI inflow. In 2014, the government increased foreign investment upper limit from 26% to 49% in insurance sector. It also launched Make in India initiative in September 2014 under which FDI policy for 25 sectors was liberalised further.[8][9] As of April 2015, FDI inflow in India increased by 48% since the launch of "Make in India" initiative.[10] India was ranking 15th in the world in 2013 in terms of FDI inflow, it rose up to 9th position in 2014[11][unreliable source?] while in 2015 India became top destination for foreign direct investmentInfrastructure[edit]

10% of India's GDP is based on construction activity. Indian government has plans to invest $1 trillion on

infrastructure from 2012–2017. 40% of this $1 trillion is to be funded by private sector. 100% FDI under automatic

route is permitted in construction sector for cities and townships.[14][15][non-primary source needed][16]

Automotive[edit]

FDI in automotive sector was increased by 89% between April 2014 to February 2015.[17] India is 7th largest producer

of vehicles in the world with 17.5 million vehicles annually. 100% FDI is permitted in this sector via automatic route.

Automobiles shares 7% of the India's GDP.[18]

Pharmaceuticals[edit]

Indian pharmaceutical market is 3rd largest in terms of volume and 13th largest in terms of value. Indian pharma

industry is expected to grow at 20% compound annual growth rate from 2015 to 2020.[19] 100% FDI is permitted in

this sector.[20][21][22]

Service[edit]

FDI in service sector was increased by 46% in 2014–15. Service sector includes banking, insurance, outsourcing,

research & development, courier and technology testing.[23] FDI limit in insurance sector was raised from 26% to 49%

in 2014.[24]

Railways[edit]

100% FDI is allowed under automatic route in most of areas of railway like High speed train, railway electrification,

passenger terminal, mass rapid transport systems etc.[25][26] Mumbai-Hyderabad high speed corridor project is single

largest railway project in India, other being CSTM-Panvel suburban corridor. Foreign investment more

than ₹90000 crore(US$13 billion) is expected in these projects.[27]

Chemicals[edit]

Chemical industry of India earned revenue of $ 155–160 billion in 2013.[28] 100% FDI is allowed in Chemical sector

under automatic route. Except Hydrocynic acid, Phosgene, Isocynates and their derivatives, production of all other

chemicals is de-licensed in India.[29] India's share in global specialty chemical industry is expected to rise from 2.8% in

2013 to 6–7% in 2023.[30]

Textile[edit]

Textile is one major contributor to India's export. Nearly 11% of India's total export is textile. This sector has attracted

about $ 1647 million from April 2000 to May 2015. 100% FDI is allowed under automatic route.[31] During year 2013–

14, FDI in textile sector was increased by 91%.[32] Indian textile industry is expected reach up to $ 141 billion till 2021