The importance of ENTRY PRICES

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The Importance of Outsourcing Data Entry Services

Every business is built on and around databases – the databases of emails of potential clients, the databases of products, the databases of contractors, etc. If you’re a small business owner, managing them all can be a real bore for you, making you feel sick and wonder if there are any ways to free yourself from this dull thing. The good news is that there truly is a way out – you can use data entry services online and get a 24/7 virtual assistant who will be responsible for all your data maintenance.

What does data entry involve? If you’re addressing online specialists, you can expect them to cover such your needs as data mining, data processing, digitalization, synchronization, and much more. Our company provides a truly amazing range of services.

Why You Should Consider Outsourcing Data Entry Services

A lot of programs are commonly used today as a means of automation data entry. Even though the results of the processes performed by a machine can be effective, this method will never completely substitute for manual data entry done by a person with experience and, unlike you as a business owner, with enough time. Here are a few things you should know about outsourcing data entry services, which will help you see your possible profit:

  • Save time.
    No matter how simple the pieces of information are, the data entry process itself requires much time. You and your team can work on a lot of more important things, while our team will be dealing with your databases, finding, researching, analyzing, and processing the information you need for your business.
  • Get it done faster.
    You will know it’s just the time to outsource when you find yourself surrounded by data entry work waiting to be completed. If yesterday was when you needed to turn to your databases but you had none of them, you will be glad to know that we work with a focus on a quick turnaround time.
  • Get more systematic.
    Doing data entry yourself or delegating it to several different employees may lead to a lot of confusion and a lack of systematization. We digitize your information, making it always available, easily found, and easily accessible across different platforms. It’s a chance to make your data indexed, well-ordered, and more logical. It will be there for you whenever you need to make a business decision based on it.
  • Secure information.
    Outsourcing a person (or a team) to manage your data, you will sign an NDA with them and will be able to decide who will have the access to your files and who won’t. We have our own security policy ensuring that whatever you give us access to will be hundred percent safe.
  • Save money.
    Even if you have a full-time working team, your data entry needs might be not that big to get another full-time worker for dealing with them. Hiring a regular employee, you get more expenses than his or her salary and taxes, as you also need to provide an office space, some equipment (e.g. a computer, a printer, a scanner, etc.), a paid vacation, and a health insurance. Thus, you end up spending a lot of money. With outsourcing, though, you only pay for the work done.
  • Manage your full-time team more effectively.
    Data entry is often viewed as a dull work. Assigning this task to your regular employees, you might make them feel unappreciated. But when you entrust it to us, you can distribute more important tasks among your workers, which will result in an increased overall productiveness. Besides, this freedom from repetitiveness encourages more creativity in your staff.

Improve a Process of Maintaining Your Data with Us

Outsourcing is surely an excellent way to improve a process of data management within your business, which may eventually increase your revenue. So, free up your staff and let them use their time to work on products or deal with customers instead of mindlessly entering letters and symbols and trying to organize them in databases. Get in touch with us today, and let us take care of your valuable data.

The Importance of Basis Point Value (BPV)

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A basis point is a unit of measure used in finance to describe the percentage change in the value or rate of a financial instrument.

One basis point is equivalent to 0.01% (1/100 of a percent) or 0.0001 in decimal form. If interest rates rose from 2.00% to 2.50%, it would be said that rates rose 50 basis points. In many cases, basis point refers to changes in short-term interest rates, such as Eurodollars, but it is also important with longer-term bond yields.

Basis Point Value, also known as DV01 (the dollar value of a one basis point move) represents the change in the value of an asset due to a 0.01% change in the yield.

BPV or DV01 calculations are used in many ways, but primarily to show the dollar amount of change for each increase or decrease in interest rates. If the value of the Eurodollar futures contract moves by one basis point (.01%), it would equate into a $25.00 move in the contract value. If Eurodollar futures moved four basis points or .04%, it would equate to a $100 move in the value of the contract.

Show graphic calculating this BPV or DV01 for Eurodollars:

Basis Point Value Calculation

The face value of the Eurodollar futures contract is $ 1,000,000. The futures track three-month Eurodollar rates (three-month ICE LIBOR) hence we use 90 days in the equation, and .01% in decimal form is .0001.

Basis Point Value (BPV) = Face Value x (#days ÷ 360) x .01%

BPV = 1,000,000 x (90 ÷ 360) x .0001

Example

This example shows Eurodollars in terms of the IMM Price index. Assume Eurodollar interest rates rose from 1.00% to 1.05%, this would represent a .05% or five basis point rise in Eurodollar interest rates. But remember from the prior modules that Eurodollar futures are priced off the IMM price index.

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IMM price index = 100 – Eurodollar rate (or three month ICE LIBOR)

In the example above, Eurodollars were at 1.00%. The IMM price index, therefore, would be 100 – 1.00 = 99.00. Subsequently, interest rates rose to 1.05%. The IMM price index at that point would be 100 – 1.05 = 98.95.

As you can see, interest rate prices move inversely with interest rate yields. As rates rose five basis points, the Eurodollar IMM price index declined from 99.00 to 98.95.

To find out how much that means in terms of dollar value, we have to convert basis point movement into dollar movement. This requires knowing the DV01 (dollar Value of a .01 move)

The basis point value in Eurodollar futures from our calculation above is $25.00. Therefore, a five basis point move equates to $125.00

5 basis points x $25.00/basis point = $125.00.

Basis Points and Tick Size in Eurodollar Futures

The minimum allowable price fluctuation, or tick size, is generally established at ½ basis point., or .005%. Based on a million-dollar face value 90-day instrument, this equates to $12.50. However, in the nearby expiring contract month, the minimum price fluctuation is set at 1/4 basis point, or .0025%, equating to $6.25 per contract.

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Importance Of Pricing

Pricing is equally important in each business firm. Among the four Ps of marketing mix , price is the only element from which a business firm gets money.

The importance of international trade

International trade between different countries is an important factor in raising living standards, providing employment and enabling consumers to enjoy a greater variety of goods.

International trade has occurred since the earliest civilisations began trading, but in recent years international trade has become increasingly important with a larger share of GDP devoted to exports and imports.

World Bank stats show how world exports as a % of GDP have increased from 12% in 1960 to around 30% in 2020.

With an increased importance of trade, there have also been growing concerns about the potential negative effects of trade – in particular, the unbalanced benefits with some losing out, despite overall net gains.

World exports of goods and services have increased to $2.34 trillion ($23,400 billion) in 2020.

Importance of trade

1. Make use of abundant raw materials

Some countries are naturally abundant in raw materials – oil (Qatar), metals, fish (Iceland), Congo (diamonds) Butter (New Zealand). Without trade, these countries would not benefit from the natural endowments of raw materials.

A theoretical model for this was developed by Eli Heckscher and Bertil Ohlin. Known as the Heckscher–Ohlin model (H–O model) it states countries will specialise in producing and exports goods which use abundant local factor endowments. Countries will import those goods, where resources are scarce.

2. Comparative advantage

The theory of comparative advantage states that countries should specialise in those goods where they have a relatively lower opportunity cost. Even if one country can produce two goods at a lower absolute cost – doesn’t mean they should produce everything. India, with lower labour costs, may have a comparative advantage in labour-intensive production (e.g. call centres, clothing manufacture). Therefore, it would be efficient for India to export these services and goods. While an economy like the UK may have a comparative advantage in education and video game production. Trade allows countries to specialise. More details on how comparative advantage can increase economic welfare. The theory of comparative advantage has limitations, but it explains at least some aspects of international trade.

3. Greater choice for consumers

New trade theory places less emphasis on comparative advantage and relative input costs. New trade theory states that in the real world, a driving factor behind the trade is giving consumers greater choice of differentiated products. We import BMW cars from Germany, not because they are the cheapest but because of the quality and brand image. Regarding music and film, trade enables the widest choice of music and film to appeal to different tastes. When the Beatles went on tour to the US in the 1960s, it was exporting British music – relative labour costs were unimportant.

Perhaps the best example is with goods like clothing. Some clothing (e.g. value clothes from Primark – price is very important and they are likely to be imported from low-labour cost countries like Bangladesh. However, we also import fashion labels Gucci (Italy) Chanel (France). Here consumers are benefitting from choice, rather than the lowest price. Economists argue that international trade often fits the model of monopolistic competition. In this model, the important aspect is brand differentiation. For many goods, we want to buy goods with strong brands and reputations. e.g. popularity of Coca-Cola, Nike, Addidas, McDonalds e.t.c.

4. Specialisation and economies of scale – greater efficiency

Another aspect of new trade theory is that it doesn’t really matter what countries specialise in, the important thing is to pursue specialisation and this enables companies to benefit from economies of scale which outweigh most other factors. Sometimes, countries may specialise in particular industries for no over-riding reason – it may just be a historical accident. But, that specialisation enables improved efficiency. For high value-added products, multinationals often split the production process into a global production system. For example, Apple designs their computers in the US but contract the production to Asian factories. Trade enables a product to have multiple country sources. With car production, the productive process is often even more global with engines, tyres, design and marketing all potentially coming from different countries.

5. Service sector trade

Trade tends to conjure images of physical goods import bananas, export cars. But, increasingly the service sector economy means more trade is of invisibles – services, such as insurance, IT services and banking. Even in making this website, I sometimes outsource IT services to developers in other countries. It may be for jobs as small as $50. Furthermore, I may export a revision guide for £7.49 to countries all around the world. A global economy with modern communications enables many micro trades, which wouldn’t have been as possible in a pre-internet age.

6. Global growth and economic development

International trade has been an important factor in promopting economic growth. This growth has led to a reduction in absolute poverty levels – especially in south east Asia which has seen high rates of growth since the 1980s.

Source: St Louis Fed – GDP For World

Problems arising from free trade

Given the importance of free trade to an economy, it is unsurprising that people are concerned about the potential negative impacts.

  • Infant industry argument. The fear is that ‘free trade’ can cause countries to specialise in primary products – goods which have volatile prices and low-income elasticity of demand. To develop, economies may need to restrict imports and diversify the economy. This isn’t an argument against trade per se, but an awareness trade may need to be ‘managed’ rather than just rely on free markets. See more at Infant Industry Argument.
  • Trade can lead to cultural homogenisation. Some fear trade gives an advantage to multinational brands and this can negatively impact local produce and traditions. Supporters argue that if local products are good, they should be able to create a niche than global brands cannot.
  • Displacement effects. Free trade can cause uncompetitive domestic industries to close down, leading to structural unemployment. The problem with free trade is that there are many winners, but the losers do not gain any compensation. However, free-market economists may counter that some degree of creative destruction is inevitable in an economy and we can’t turn back to a static closed economy. On the upside, if the uncompetitive firms close down, ultimately new jobs will be created in different industries.
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