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The Credit Cruncher was conceived to help you to keep up to date with credit crunch and recession developments, it provides some helpful credit crunch advice and it addresses personal debt. The Credit Cruncher also seeks to explain how the credit crunch started and shed some light on the worldwide recession. Recently, we have begun to look at how BREXIT will affect the UK economy. Please feel free to leave comments where relevant.

21 Apr 2009

Modern Business Practice

For years now modern business practices have been becoming more advanced, more automated and more reliant on technology. In the current economic climate, streamlining of businesses and business practice is vital to remain competitive in all areas of industry.

Software is available that can track employees, automatically generate a Timesheet and complete payroll tasks. This accomplishes two distinct tasks which are sadly required to keep your company at the fore-front of your industry:
It makes sure that you are paying employees only for time that they should be paid for
It cuts down on tedious administrative tasks, and also on staff requirements (for bigger organisations)

Whilst it may appear mean to find ways to cut your workforce (and to try to make sure that they are not claiming for more time than they are working), the reality is that companies that strive to remain profitable are those that will survive the current crisis at the expense of those that don't. The harsh reality of the current deep recession is that a 'survival of the fittest' culture will emerge, with lean and mean companies swallowing up the markets, and the slower-to-react companies will be those that leave themselves facing closure.

The reality is that modern technology and the 'first-adapter' companies will be able to combine to take market share from the more staid and less responsive companies.

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