Use of Cryptography in Information Security

Transfer of data in a business system often takes place with the help of the digital medium. In such a scenario security of this data remains at the prime focus of all the tasks. Cryptography, here plays a pivotal role in maintaining the safety of the transferred data. Let us explore the in and out of this technique of core importance.

What is cryptography?

Cryptography is the method to hide the information with the use of microdots, image-word merging, or with some other ways. In technical arena, it can be termed as scrambling plain text into an encrypted form, usually called Ciphertext, then again to convert it into decrypted format known as Cleartext. This process of encoding and decoding is called cryptography and people practicing this field are known as cryptographers.

What are the Objectives of Cryptography?

Modern cryptography follows the below objectives-

  1. Confidentiality– anyone who is out of the circle cannot understand the information between the sender and receiver.
  2. Integrity– no alteration is possible once the message is released.
  3. Authentication- information and sources in the cryptography system are purely authentic. Both sender and receiver can identify each other and origin or destination of the information.
  4. Non-repudiation– none of the sender or receivers can step back of the message at a later stage.
  5. Access control- only authorized people can access the confidential data.

 

To fulfill the above objectives the following formats of cryptography are practiced-

  1. Symmetric Cryptography: Also known as secret key cryptography, it is a method in which both sender and receiver share the same secret code and key for encryption and decryption. This technique is useful if you are communicating with a limited number of people, however, not much useful for mass communication.
  2. Asymmetric Cryptography: This is also known as public key cryptography in which, separate keys are used for encryption and decryption. This is useful for key exchange and digital signatures such as RSA, digital signature algorithm, public-key cryptography standard etc.
  3. Message-Digest: In this, a hash function is used to permanently encrypt the data. This is also called one-way encryption.

Cryptography protects the network resources against alteration, destruction, and their unauthorized use. They secure the network system, IT assets, and the confidential data. In today’s scenario, it has become quite easy to alter or restrain the data and information. Theft of confidential information is again a discomforting phenomenon. We at iACT Global help you to get the insight of highly important and globally practiced cryptographic techniques. We provide you a thorough knowledge of network security system and related tools.

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Six Sigma Black Belt Roles and Responsibilities

Six Sigma is a highly-disciplined process that focuses on developing and delivering nearly perfect products and services consistently. Six Sigma is also a management strategy which makes use of statistical tools and project work to achieve breakthrough profitability and achieve best quality. Motorola came up with the Six Sigma concept in the year 1986.

Motorola with the help of Six Sigma saved 940 Million dollars over a period of three years. As per research a Black Belt Project will save on an average 175,000 dollars. Ratio of One Black Belt per 100 employees can provide a 6% cost reduction per year. When organisation reach the Six Sigma quality the defects become so rare that the organisation is able to reach profitability through loyal and happy customers.

Black Belts are official team leaders of enterprise wide projects. Black Belt are a link between the Black Belt project team and the Top Management. They have specific roles and responsibilities in the organisation.

  • Mentor – Black Belt in an organisation act as the mentor for all the Green Belt working under him in a particular project. They are responsible to guide them and help them with the smooth functioning of the projects providing timely and effective guidance to green belts to run the project successfully.
  • Teacher – Black Belt acts as a teacher training the team members involved in the running of the quality projects. The team members look up to the Black Belt for training and guidance in case of problem solving.
  • Coach – Black Belt acts as a Coach to the team members. Monitoring the progress and informing the team members about the methods to improve the performance.
  • Identifier – Six Sigma Black Belt as the name suggest are experts in the field of quality management and so they are the ones who are expected to identity opportunities and problems in advance and direct the team members involved in project to work accordingly.
  • Influencer – Six Sigma Black Belt are the direct influencers in the organisation who through their expert knowledge advocate management to adopt the Six Sigma Tools and strategy for profitability and success.

iACT Global is a known name in the field of Training and Certification. iACT Global offers individuals as well as organisation with the opportunity to learn about Six Sigma Black Belt and benefit from the knowledge and expertise. Six Sigma Black Belt can contribute substantially to the success of an organisation providing both tangible and intangible benefits. Black Belts provide significant improvement for an organisation both financially and through loyal customers.

The Effect of Material Management Technique on Production Planning Process

This article will talk about the effect of Material Management technique on production planning process.  Material management is an approach that is closely integrated with various processes such as purchasing, planning, warehousing or storage, stock-keeping and materials movement from point A to point B. In other words, it’s a management process of material involving purchasing, storage control and transportation.

Due to the rapid growth and industrial development that the 20th century has seen, the” Traditional 5M’s which are Machine, Material, Manpower, Money and Management” have been effectively managed.

The industrial revolution that took place made the material(s) the largest element of costs in any organization. Many firms in the 20th century started recognizing the importance of material and other material activities such as purchasing, warehousing or storage, stock control and the distribution process that is carried out by the organization.

Till the year 1950, organizations had identified the need for effective coordination or integration of such material activities (mentioned above) and material organization tools concept, which includes physical distribution movement, logistic movement and material management. This was a way to check, coordinate and control the organization’s activities related to materials.

At a global level, there is no definition that defines material management very clearly.

Here are a few points to keep in mind for material management:

  1. Identification, classification and stocks coordination
  2. Provision, controlling the inventory and stress accounting
  3. Organizing the warehouse and its layout
  4. Distributing and handling in house storage
  5. Materials in the store should be properly presented

As we have mentioned above that there are no global definition for material management, an organization has to use the most suitable or appropriate technique that works best for them. It has to be implemented in the most effective way to ensure the cost is consistent with the service provided.

As per the American Production and Inventory Control Society (APICS) material management technique and production is grouping of management function related to the complete cycle of material flow from the purchase and internal control of work in the latter term, traditionally is limited to internal control of production materials.

Upon looking at the above definition, we can easily see that they are not different from each other but there is some difference in their approach and terminology.

For a detailed understanding of the process, please contact iACT Global.

Training and Development in Human Resource Management

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Training and Development are two strong pillars for Human Resource Management (HRM). These two areas of Human Resource Management focus on an individual progress to do the specific job well in the organisation and also ensure that the individual keeps growing within the organisation.

What is Training in Human Resource Management (HRM)?

Training simply put refers to providing skills to the employee so that he can do the job efficiently and effectively. So training is a planned process by the organisation which aims at increasing the knowledge, skill and ability of the employee for doing the job well.

 
 

Training Process – the training process in an organisation involves these steps:

  1. Needs Analysis – Identifies the training needs of an employee. This can be done through Task Analysis and Performance Analysis. In task analysis focus is on the elements involved in performing the task. In Performance Analysis focus is on the deficiency of an employee to perform well and how that can be corrected through training.
  2. Designing the training method- The organisation can use various training methods depending on their requirement and validity for the organisation. Training methods usually used are: Induction training, On the Job Training, Off the job Training, E-Learning and Simulation Training.
  3. Validation process – The Training methods need to be validated if they are working well for the employee and employee is showing better performance. This validation process can be done on a sample of employees.
  4. Implementation – It’s the easiest step as the training needs to now be implemented.
  5. Evaluation – the most important step in training process. This step checks whether all the efforts put in the training are a success or not. If the employee is performing well after the training than that means training process is a success.

Development in Human Resource Management refers to preparing an employee to handle more responsibility and challenge himself. Development is all about shaping the attitude of an employee so that he grows within the organisation and does well for himself and the organisation as a whole. For development of an employee its imperative that the supervisor monitors the progress of a subordinate well.

iACT Global offers courses in Training and Development which can be utilized by both individuals and organisation for mutual success. iACT Global helps an organisation to understand the importance of training and development as a deciding factor to ensure the employees utilize their full potential and stay happy and focused in the organisation. A happy employee means a happy organisation.

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Advantages of Having PMP Certification

Project Management Professionals Certification is the highest standard of project management certification in the world. So, if you are a project manager it makes sense for you to get PMP certified. In the last 20 years, over 600,000 project managers across the world have become PMP certified. Project Management Professional certification is the most respected project management certification in the world.
The question that comes to mind is: Why should I go for the PMP certification? The answer to the question is looking at the benefits which comes with the PMP certification:

  • You become more attractive to employers– A PMP certified project manager is more attractive to prospective employers as you demonstrate an ongoing commitment to learning and understanding.
  • Higher Salary – PMP certified professionals command higher salary as you are considered more knowledgeable and since worth more value to the organisation. On an average PMP certified project managers draw at least 20% higher salary than other non PMP certified managers.
  • Increase Revenue for organisation– PMP certification will result in increased revenue for your organisation. Clients would actually have more confidence in your abilities and would be ready to pay more for the products or services offered.
  • Competitive Advantage – PMP certification puts you at a competitive advantage over others. PMP certification mentioned in your CV will allow you to shine and command attention.
  • Improves your communication skills– PMP certification means that you speak the same language as any other PMP certified project manager in the world. This gives you a upper hand when it comes to communication skill in the project management field.
  • Global Networking Opportunities – PMP certification opens up Global Networking opportunities with fellow Project manager professionals.
  • Helps you in becoming Leader– PMP certification makes you a better leader. You can use your credentials to educate your peers. PMP certification will help you act as a mentor or coach which will in turn help you gain leadership experience.

iACT Global is a reputed online Training and Certification organisation. iACT Global will help you excel in the project management field. They offer certification in PMP. This certification will help you move ahead in your career. PMP certification will put you in demand as an established project management professional. There could not be a better time to get PMP certified and there could not be a better place than iACT Global to do so.

Software Quality Assurance Process and Procedures

Software-Quality-Assurance

Software Quality Assurance in simple terms is a quality check on the software developed to make sure that the software meets the quality standards. Software Quality Assurance is an ongoing process in the Software Development Life Cycle. The quality checks on the software are routinely. Instead of checking the quality of the product after the completion the Software Quality Assurance checks for quality standard in each phase of software development.

Software Quality Assurance are based on one or more industry standards which help in making software quality guideline and strategies for implementation. The industry standards include ISO 9000 and Capability Maturity Model Integration (CMMI).

Anyone involved with software development would like to know “ How can you develop a Career in Software Quality Assurance?”

Since Software Quality Assurance is interwoven in the life cycle of Software development its importance is becoming more evident. Quality Assurance is all about how the software runs and delivers to the end client. Its critical to get it right if you want to make your client happy.

Career path options for Software Quality Assurance professionals:

  1. Product Managers – Quality Assurance professionals are experts at the analyzing the software repeatedly. This process helps them understand the software in great detail. In this competitive world where companies are always coming up with new products, Quality Assurance professionals are the go to people for product development. Product Management is the more natural fit for Quality Assurance professional who can easily diversify and manage product development teams.
  2. DevOps Roles – Quality Assurance Professionals have a holistic approach to Software development process. Developers often lack this holistic approach. So when as the Quality Assurance process moves upstream these QA professionals can easily move and participate in the DevOps role.
  3. Customer Experience Leader- Quality Assurance professionals understand the importance of customer satisfaction. There primary purpose for software testing is to ensure the customer is happy. They understand that the customer comes first. This understanding makes QA professionals great at Customer Experience Leader roles.
  4. Quality Engineering and Strategy – The most natural move form Quality Assurance would be Quality Engineering and Strategy. Quality Engineering has focus not just on quality for each application but the focus is on the quality for the entire system.

iACT Global is a training and certification organisation. They offer courses on Software Quality Assurance. These courses offered would help the QA professionals with improving their chances of developing career in Quality Assurance. With the knowledge acquired through the courses they can also look at diversifying. Giving your career a fresh lease.

Goals and objectives of finance in business

Finance-iACT-GlobalAll businesses in today’s world have one objective in mind – to make money. Irrespective of the size of the organization all businesses are running with the objective of making profits. Goals and objectives of finance in business are to ensure that the organisation achieve its goals of making money by ensuring that the organization as a whole achieve other objectives as well. Other objectives important for the organisation are process, production, people and promotion maximization. Once an organisation ensures that these objectives are met it results in profit for the organisation.

Generally the goals and objectives of finance in business are

Return on Investment- Every business is funded by investment and its imperative for business that the investment grows in the business so that the business can make money. Return on Investment is a financial ratio applied to capital expenditure. The ROI ratio is concerned with two aspects first is the capital investment in terms of property, machinery and vehicles. It’s the objective of the business to generate enough money through these capital investments to justify their purchase cost. Secondly, ROI is also concerned with investments in stocks, bonds and other investment instruments

  • Increasing Revenue Growth – The most basic objective of any business is to increase the revenue. Increasing revenue is achieved by increasing sales and marketing activities. The focus is on top line earnings, which is concerned with earnings before expenses. Most organizations look at setting a percentage increase goal and work hard for achieving that objective.
  • Profit Margins– Profit is concerned with the bottom line earnings. Profit is basically the revenue generated over the sales revenue after deducting the expenses. This Profit can be used to invest in the expansion of the business and also for can be used for distribution among the employees as part of a profit sharing arrangement. Profit goals of an organization are concerned with revenue making sure that the cost are kept low by acquiring raw material at lower price or keeping the cost of production low in order to increase the profit margins.
  • Sustainability – Its also an objective of finance in business to sustain itself in times of economic crisis and turbulence. This objective can be achieved by keeping the debts really low and maintaining consistent income levels.

iACT Global is a education and training organization which helps businesses in achieving financial goals and objectives by providing various Financial management courses which can contribute to long term growth oriented strategy for the business. Enroll now!

Corporate Finance: Nature and Scope

CF_iACT_GlobalMost of you, who are familiar with Corporate Finance, must be aware that corporate finance is nothing but managing the required funding and its sources. CF is also concerned with overseeing and optimizing the proficiencies of the capital structure to enhance the value of the company. One of the main objectives of corporate finance is to maximize the shareholder value in both short and long term. Let’s find out about the nature and scope of CF.

Scope of Corporate Finance

Capital investment decisions are an important part of corporate finance. These decisions include

  • Deciding whether the dividends should be offered to shareholders or not
  • Sanctioning or rejecting proposed investment. If the investment is approved, it is also to be decided whether the company should pay with debt of equity or both.
  • Managing of short term assets and liabilities, investments, inventory control and other short term financial issues by the financial manager

Corporate finance understands the financial problems of a company and prevents them beforehand. It also deals with the financial aspects, promotion and administration of new enterprises.

Nature or Principles of Corporate Finance:

Corporate finance is based on the following three principles:

  • The Investment Principle: According to this principle, the funds of an organization should be invested in such a way to derive maximum return on investment. This investment should be made at acceptable and minimum hurdle rate which depends on the project’s debt and equity. The riskier the project is; the higher will be the hurdle rate.
  • The Financing Principle: According to this principle, one should choose the ratio of debts and equity in such a way so as to attain maximum return on investment and to match the assets’ financial nature. The corporate finance manager has to analyze how to attain the optimum financial mix of debt and equity for the organization.
  • The Dividend Principle: According to this principle, when a business reaches a saturation point where cash flow surpasses the required fund, the corporate finance manager needs to search for alternative sources like dividends, stocks and assets to maintain a balance between the cash flow and required funds.

Thus, after knowing so much about CF, you must be more than eager to enroll for CF Certification at iACT Global. iACT Global is just the place for your dreams to come true. Through iACT Global you can study at your own convenience anywhere and at anytime. So, just enroll now!

The Value Of Business Analytics – Identifying The Path To Profitability

It’s a known fact that decision making driven by data rather than relying on manager’s intuition works far more efficiently. There are numerous studies that back this claim that organizations equipped with Business Analytics perform better than their peers. Business analytics is extremely vital for multi-dimensional analysis, data mining, data management, visual discovery, integration, and statistical methods which will in turn help in increasing profitability of an organization.

Let’s find out what exactly is business analytics. Business analytics is a new discipline which has arisen from the combination of two old disciplines, namely, Business Intelligence and Predictive Analytics.

Business analytics uses the functions of Business Intelligence like finding what happened, how it happened and why it happened. This enables the management to become alert and stop moving in the wrong direction. Business Analytics also uses Predictive Analytics for finding data patterns to forecast what will happen in future.

Application of Business Analytics includes the following steps:

  • operational intelligence
  • strategic and competitive analytics
  • customer acquisition and retention
  • risk management
  • fraud detection
  • demand driven forecasting

To become a profitable organization through Business Analytics, the firm needs to have knowledge about customers, regions, market segments and products which are profitable. Also, the organization needs to identify those market segments, customers, competitors and brands which are responsible for losses and take steps to stop the drainage of cash.

According to Thomas Davenport and Jeanne Harris, there are five stages of analytical competition as given below:

  • Analytically Impaired: Absence of analytical skills
  • Localized Analytics: Uncoordinated activities or silos.
  • Analytical Aspirations: Good intentions with slow progress.
  • Analytical Companies: Widely use analytics internally.
  • Analytical Competitors: Use analytics as a competitive advantage.

Business Analytics is a basic discipline which helps an organization to identify the main causes of issues and outcomes. If the firm takes corrective action and satisfies the needs of customers quicker and better than its competitors, then it can become extremely profitable

Earlier, business analytics was expensive and used to be a part of only popular businesses. But now with a wide range of analytical applications to choose from, even small businesses can afford business analytics.

But still businesses are sometimes clueless about how to utilize business analytics for maximum profitability. You can always boost your business by joining Business Analytics course at iACT Global. Through iACT Global, you can study anywhere and at any time. Thus, for a profitable business, join iACT Global now.

After Demonetisation What Next?

demonetisationThe buzz word is around and making news every nook and corner of the town. Let’s find out some bare facts pertaining to the ‘Demonetization’ phenomenon. Demonetization (Demo’) refers to an economy being replaced by its existing currency followed by channelization of new currency.  So it is more like invalidating the current legal tender. Generally, for ensuring smooth switch over old currencies are allowed to be converted in to the new ones. If we look for examples, European Monetary Union nations agreed to take Euro as their currency. Other countries that went for demonetization included – Philippines, Zimbabwe, Singapore and Fiji.

The ones at the pedestal of the pyramid are using currency primarily to meet their daily needs. The informal sector of the economy like daily wage earners, small traders, laborers tend to use cash frequently. Lack of liquid cash deprives them of their income. The labor cost would be curtailed in case of cash stringency.  Nearly 86% of the circulating currency consisting of Rs.500 and Rs.1000 notes was withdrawn. This withdrawal didn’t have any bulk replacement. The available denomination, immediately after withdrawal was Rs 2000. This made Rs. 2000 more as a store currency rather than as a transaction currency.

Let’s Assess The Impact On Some Of The Sectors Of Indian Economy

Real Estate: Starting with Real estate, a fall in the enquiries to the extent of 40% is witnessed. The secondary market is also stagnant, buyers and sellers are in –‘Wait and watch’ mode.

Auto: The sales at wholesale level suffered less of shock in comparison to the retail sales; however in the two-wheeler rural markets where cash is the primary mover, a sharp decline happened. Telecom: Demand for Smart phones along with the ordinary was hit. Fall in Shipments and inventory pile up signaled the same.

Agriculture: Villages adapted with the demo’ move better, the tax incentive to the tune of 20% offered by GOI further strengthened the situation. Crop planting rather increased w.r.t. previous weeks.

Metals: Construction and Building Infra where steel and other metals like aluminum, zinc etc are used will be adversely impacted, owing to a hit on the real estate sector.

Aviation: One of the world’s fastest growing markets will have a drop in the level of sales. Small town flights where cash is one of the key ingredients may experience negative growth. Falls in bookings were notified post demonetization move.

Tourism: The crest season of November-December were hit badly by the move. Shortage of cash at hotels and airports made the situation worse. Lack of acceptance of credit cards and other payment alternatives at historical sites and monuments made visitors face odds.

Consumer Spending: Organized retails fared better. Impulse and personal product purchased suffered badly. Analysts say – It may take tenure of two quarters to improve the situation.

E-Commerce: Food delivery ventures and grocery store are doing usual. GMV (Gross Merchandise Value) fell by 40% to 50%.

Now looking forward to some solutions- Low interest housing loans with a fall in the corporate tax rate to the tune of 25% may boost the sentiments. Then a surge in the public sector investments may add to the push. The budget could act as a ‘good signal’.