Invenio’s 2015 Annual Retreats!

After a busy 2014 and a progressive start to 2015, The Invenio Management Team welcomed the opportunity to indulge their staff members to some fun and relaxation at two annual retreats.

The first retreat was held in February at the palatial Mystic Valley Resort in Maharashtra and the second in April was held at the stunning Heritage Village Resort and Spa.

retreatc

 

Both events kicked off with a welcome meeting where everyone settled down and swiftly moved onto an awards and leadership talk. Leadership messages were given from:

Partho Bhattacharya, Managing Director

Arun Bala, Chief Operating Officer

Manish Goyal, Chief Financial Officer

Naveen Agarwal, Chief Technical Officer

 

After the talks, lunch was given and then the groups participated in some indoor and outdoor team building activities.

Once the activities were over, guests were invited back to their rooms to prepare for the Gala dinner and LATE night partying. We need say no more!

 

 

Sapphire Now and ASUG Annual Conference 3-5 June, Orlando, Florida

We invite you to be part of our group at Sapphire Now and ASUG Annual Conference in Orlando, Florida from 3 – 5 June 2014, stand 1807.

Picture11

 

Get the latest technological vision, actionable insights you need to drive profitability and growth, and influence future SAP offerings at this 3 day action packed event.

Join senior executives, line of business and IT decision makers and business managers from across all process, technology, and industry areas.

  • Meet current business challenges and gain efficiencies
  • Learn from others who have integrated the same SAP solutions
  • Get the most out of your SAP investment
  • Make connections
  • See technology in action
  • Gain a rapid and significant return on investment
  • Enable future growth strategies and maintain a competitive
  • Shape the future of SAP solutions and services
  • Experience faster software implementation without disruption

This event is not to be missed so register now! the full programme can be seen here, take a look at this action packed event.

Do you know of others who would be interested in such a fast paced and interactive event? Don’t hesitate to pass this on.

Let’s keep up to date and make progress and cost savings happen! We look forward to welcoming you in Orlando from the 3-5 June.

Warm regards,

Christine Cockerton
Marketing Manager

Managing Global SAP Teams

400_dreamstime_10053595In global organisations today it is not unusual to find large SAP teams working across different time zones, cultures and languages, and these types of working environments are growing. As projects develop within the organisation; internally and externally, there is a need to be able collaborate these global teams and streamline the working environment so the teams are working as one and not as separate entities.

Although global teams offer many benefits, they can also pose a number of challenges such as:

  • How you develop effective global leaders
  • Keeping remote employees engaged and informed
  • Managing successful recruitment
  • Retention of global teams
  • Monitoring distance employees
  • Developing a global voice which all the company understand.

Global teams are valuable to businesses; because of the social and cultural fit for working business environments which has an impact how business growth and sustainability. Without local knowledge and resource it can be very difficult to work with customers who have a local need.

Building successful global teams usually requires the support of the CEO and other executives. Invenio Solutions run SAP Global teams in many countries across the world, for internal purposes but also for their international clients. There are 5 elements which Invenio Solutions use to manage and develop their global teams thus, enhancing their servicing of global clients in the most effective way. We will discuss each one individually:

1. Employ trusted, local, global team heads

Like every business, Invenio strive to employ the best people at any level in our organisation, we use our in-house built techniques and qualifications to really delve into a person’s employee history and personality. This is especially important when recruiting global team heads. Invenio employ local employee team heads so they understand the cultural environments and for ease of employee engagements, there are a lot of different elements when meeting east with west so the team leaders should also have knowledge of the international business landscape.
Each global team head we employ has to make sure the relationship between his or hers team and the organisation works simultaneously and this should be portrayed when dealing with global clients. It is the job of the global team head to develop strong relationships with other international team leaders and push the true voice of the company.
Action points:

  1. Draw up a Global Team Head persona for an ideal candidate, this should be matched within the job description and interview questions should form around the requirements
  2. The team head of local departments should have frequent calls scheduled into their diaries to discuss company activity and relay this back to their teams

2. For new employees, have a structured introduction process which is consistent across the globe

It is important to really introduce new employees to your company so they don’t feel out on their own or unsure of what the company really stands for. Invenio have a global hand book which is adapted to the language of the local office. We also have a structured internal system to bring on new employees. We suggest that employees travel and work from our different locations at some point in their first year to really understand how other team operate however, this is not compulsory.
Action Points:

  1. Create a “Welcome Pack” for your new employees, include information about the business, its history, growth plans, senior staff members, locations etc.
  2. Put new employees in touch with each other so they can share helpful advice and collaborate between themselves
  3. Think about creating an internal social platform or intranet to hold company standardised documents and information

3. Create trust and collaborate, keep employees up to date and part of the organisations “family”

When teams are spread around a vast area it is very important to feel that you can trust every single team member and rely on them to represent the organisation in the most appropriate manner.
Teams should be kept up to date with regular group emails and messages to make sure everyone is aware of the goings-on within the organisations. As a company which is only 7 years old, Invenio have grown extremely quickly ad have found that the importance of keeping employees informed has a huge impact on operations.
Action Points:

  1. Try creating a quarterly internal news bulletin to keep everyone informed and up-to-date
  2. Make sure you have a group email address account set up for when emailing ALL employees and add new started when they join
  3. Make sure all of your team understand your brand and how your company wants to be viewed from an external point

4. Have regular virtual team meetings and introduce team building incentives

Invenio run monthly international team meetings where we are able to share news, updates, ideas and a few jokes to keep the teams involved and talking. We introduce new starters and any new client updates. We run a yearly team building days where we encourage our international employees to attend.
Action Points:

  1. Schedule in some virtual group meetings where you can introduce new employees, clients, ideas etc.
  2. Have regular team building events locally and if possibly globally

5. Have a structured monitoring system for all employees across the global teams

It is very important that you are able to monitor and record your employees individually and as a team, it is vital that CEO’s and/or other executives keep themselves involved with employee performance and manage those correctly who continue to fail. This type of task involves a lot of collaboration between team heads and the executives, they need to continually be aware of the goings-on, on the ground work force level.
Action Points:

  1. Have regular virtual meeting with executives and team heads
  2. Create a global employee review system so discussions and viewpoints remain consistent

It is very evident that there are many challenges with building and managing effective global teams, but in fact, they are becoming more prominent and vital in organisations today. Global team management and development requires a lot of commitment from your CEO, Global Team Heads but also all other team members.

Invenio Solutions feel that they execute SAP Global team management successfully for their internal teams and for their customers, it is not easy and takes time and perseverance but once you have a good, robust system in place the rewards can be remarkable.

If you would like to know more about managing global SAP teams please contact us.

Global Co-operation in Combatting Tax Avoidance Grows…

According to a report by British accountant, Richard Murphy, tax evasion equates to some 18 percent of global tax collections. And, says Reuters correspondent David Cay Johnston in his blog post Where’s the fraud Mr President “Murphy’s $3 trillion estimate, 5 percent of the global economy, shows how a combination of weak rules on accounting and disclosure combined with inadequate budgets to enforce tax laws impose a terrible cost on honest taxpayers and the beneficiaries of government service”.

There are many types of tax avoidance that make up this estimate – some legal, many illegal – and, if recent reports are anything to go by, Governments are committed to increasing international cooperation to tackle the issue on a global scale…

China recently announced it has agreed to join the international effort by the Group of 20 leading economies (G20) to combat tax evasion by signing an agreement to share tax records. China’s decision means that all G20 countries now have agreed to cooperate on tax avoidance, a priority set by global leaders to address the causes of the 2007-2009 financial crisis and to help combat corruption.

The move follows the announcement in July 2013 which saw Finance Ministers from the G20 formally back plans to tackle international tax avoidance and evasion. The G20 has asked the OECD to come up with a plan to improve tax cooperation, with the Finance Ministers saying they “fully endorse the OECD proposal for a truly global model” of information sharing. The statement called on all countries to make automatic information sharing a reality “without further delay”, adding that “capacity-building support” would be provided for poorer nations.

One driver for this increased cooperation is the recent string of news headlines that allege many multinational firms are legally avoiding tax through the use of loopholes and tax havens. Recent high profile cases in the UK include firms such as Apple, Google, Amazon and Starbucks who have all been heavily criticised for the amount of tax they pay in the UK. Although these companies are at pains to point out that these schemes are legal and they have a duty to shareholders to minimise their tax bills, the proposed new rules, and improved cooperation between nations could see global giants paying more in the countries where they do business.

Tackling Fraud with SAP

A problem that’s just as difficult to address for Tax Agencies is that of individual or small-scale illegal fraud that can be difficult to detect. A recent article in Bloomberg’s Business Week about the world’s largest shadow economies (defined as “parts of the economy involving goods and services which are paid for in cash and not declared for tax”) said: “…in 2007, in 162 countries, an average of 35.5 percent of official gross domestic product slipped through the cracks—not counting any fruits from such illegal activities as drug dealing or organized crime”.

This kind of tax evasion not only damages the reputation of government agencies, but it also contributes heavily to ever-increasing budget deficits. Paying taxes is a cornerstone of a healthy economy and a “shadow economy” means Governments often lack the revenue they need to provide adequate public services.

With more and more citizens avoiding taxes by operating their businesses “off the grid”, advanced fraud detection technologies are becoming an increasingly popular method used by Tax Agencies to help combat the problem. SAP Fraud Management, for example, was announced by SAP in March 2013. In its announcement SAP said: “The solution can help Tax Agencies to reduce fraud and non-compliance by cross-checking tax returns or social service applications against millions of related data records in real time – giving tax officers increased capability to spot whether submitted applications match information from other data sources. By further applying predictive algorithms from SAP HANA on a large number of transactions, Revenue authorities can uncover hidden fraud patterns and produce alerts on suspicious transactions that might be missed by conventional fraud and compliance rules”.

The development of technologies that can assist Governments in analysing data on such a huge scale will be welcome news for those struggling to manage the deluge of data brought about by digitisation. John Schweitzer, senior vice president and general manager, Analytics, SAP said. “SAP Fraud Management powered by SAP HANA will enable enterprises to detect, investigate, prevent and monitor irregularities or fraud in environments with ultra-high volumes of data, from both SAP and non-SAP systems. With SAP HANA as its backbone, SAP Fraud Management aims to bring unprecedented processing capabilities.”

Improving the Collection Process with SAP Tax and Revenue Management

Invenio’s Public Sector practice is uniquely placed to offer a rapid, efficient and cost effective deployment of SAP Tax and Revenue Management solutions. Invenio helps Tax Agencies to create a stable foundation for the entire management of the tax and revenue management life-cycle across all tax types to aid efficiency of the entire collection process.