Pune is the eighth largest city in western India. It is around 160 kilometers southeast of the Mumbai state. The town of Pune was existent since 937 A.D. and ruled by the Maranatha Empire. Pune is known as the Oxford of the East and Detroit of India due to the many educational institutions and manufacturing companies. Now, Pune became the top location for IT companies and the highest PC access among families.
The city of Pune has many known IT companies like Tata Technologies, Mahindra British telecom, Wipro, and Infosys.
Tata Technologies Group
Tata Technologies Group is a world leader in providing specialized IT-enabled services and responsible for consultations and product information to their manufacturers. Tata's customers are the world manufacturers of consumer, aerospace and automotive industries.
Operating companies like INCAT is an independent services company that handles Engineering & Design Services, Products & Information Life Cycle Management, Plant Automation and Customer Relationship Management Systems and Enterprise Solutions. It also provides services such as IBM/Dassault Systemes and Autodesk.
Hence, Tata Technologies iKS, Inc. is providing knowledge-based engineering through e-learning, professional services and trainings for top manufacturing organizations.
Tata Consultancy Services Limited (TCS)
TCS is an Indian software services and consulting company that provides IT and business process outsourcing ventures. It is Asia's largest IT firm and the oldest in India established in the year 1968. The company is part of the Tata Group, focusing on financial services, chemicals, energy, telecommunications and the government along with engineering, materials and healthcare.
Tata Consultancy Services Limited is involved in many industries in 2008. These include insurance, high technology banking, telecom and manufacturing. Company expansions continue to grow in Latin America, North America, Eastern Europe and China.
Tech Mahindra Ltd. (TechM)
Tech Mahindra Ltd. is known formerly as MBT or Mahindra British Telecoms. This company is a joint venture of M&M or Mahindra and Mahindra Limited and BT or British Telecommunications PLC. Tech Mahindra Ltd. is the six largest software importer and 2nd largest telecom software provider. A wide array of services from Application Development & Maintenance, IT Strategy and Consulting to Systems Integration, Infrastructure Management &Product Engineering; plus, BPO has been the core strength of the company.
Largest clients include the likes of AT&T, O2, Alcatel-Lucent and BT. The company continues to expand in the major economies of Canada, US, Middle East and Continental Europe.
Wipro Technologies Limited
Wipro Technologies Limited was established as an information technology company in 1980. It is the third largest IT services company in India. They begun to develop its mini computer in 1981 and started developing customized software packages to their hardware clients. Wipro invented their first Indian chip 8086 and began to grow their business in the United States. Wipro Ltd ADRs was listed by 2000 on the New York Stock Exchange.
Wipro has emerged as a multi-corporate and multi-business unit from Infrastructure Engineering, Consumer Products along with IT Products & Services. Among the company's clients are Compaq, Nokia, Toshiba TEC, Cisco Systems, Symantec, Exel and Emerson Appliance. There is also Goldman Sachs, Sanyo Electric, Fidelity 24/7 and Pacificorp.
Wipro Ltd is spread in over 35 countries with excess revenues of US $5 billion. It became the first IT Services Company SEI CMM Level 5 certified in the global market.
Infosys Technologies Limited
Infosys is a multinational IT services company in Bangalore. It has over 30 offices and 9 development centers with 100,306 professionals. N. R. Narayana Murthy and six others founded the company on July 2, 1981.
Infosys Technologies Limited was rated as the Best Employer by Business Today in India. They also won the Global Most Admired Knowledge Enterprise for 2003 to 2005 and became one of the global hall of fame awardees. Hewitt Associates also awarded the company as best employer for 2000 to 2002. Infosys is currently having 100 Fortune 500 clients assisted by a growth rate of 1,000 persons per year.
Other IT companies are Veritas Software Inc., Kanbay Inc., Satyam, TCS, Cognizant and PCS. IT parks has led to its construction because of the vast growing software industry in the country. This includes the Magarpatta Cybercity, Rajiv Gandhi IT Park, MIDC Software Technology Park at Talawade, Marisoft IT Park, International Convention Centre (ICC), Kumar Cerebrum IT Park, Weikfield IT Park and others.
Pune's booming industry has led the way to becoming one of the sought after commercial destinations in India nowadays. They are proud to be one of the few Asian cities marking their name to the field of information technology.
Fast Growing Privacy Hedges
Regardless of what industry pundits say, opening a medical practice can be both very rewarding and very lucrative. Of course, as with any business, medical offices have their own specific financial challenges. One of the biggest challenges for medical practices of all sizes is adjusting to the long payment cycles of private insurance providers and Medicare/Medicaid. It is not uncommon for bills to insurance companies to take up to 120 days to pay. This slow payment cycle wreaks havoc in the office's cash flow, forcing the medical office to carry the costs of doing business – paying rent, equipment leases and office staff – while waiting to get paid. This can be prohibitively expensive and prevent the office from growing and hiring additional staff. At its worst, it can threaten the very existence of the medical practice.
However, there is a light at the end of the tunnel. There is a financing tool that lets you capitalize on your slow paying insurance companies and turn their slow payments into immediate payments. The solution is to factor your medical receivables.
How does medical receivables factoring work?
Medical receivables factoring (or medical factoring for short) is a financing tool that allows you to turn slow paying invoices into actual cash, by selling them to a medical factoring company. The medical factoring company pays you for them and waits to be paid by the insurance companies. It eliminates the slow payment cycle, reducing the payment time from 90 days to two days. This provides the medical office with the necessary funds to meet expenses, such as paying rent and staff. It also frees up capital to grow the business into new areas.
The medical factoring process is fairly simple. Once a factoring arrangement is established, your office sends its weekly receivables to the factoring company for immediate financing. The factoring company will calculate the actual amount paid by insurance companies (called the net collectibles) and advance you up to 80% of that amount. The remaining 20% is called the reserve, and is used to settle billing discrepancies. Once the insurance company pays the medical bill, the remaining 20% is rebated, less the financing fee. The financing fee varies based on how long the invoices were financed.
Although qualifying for factoring is relatively simple, most financing companies will only work with medical offices that have net collectibles of at least $50,000. Terms usually get better as the practice grows. Medical practices, testing centers and medical supply companies that have over $200,000 a month in net collectibles are in the best position to get the best terms. This is because insurance payment processing can be very complex and there are a number of efficiencies that can be realized with high volumes.
Advantages of medical office factoring
Medical office factoring has some advantages over other financial products. The most important is that the financing is recurring and happens every time you invoice an insurance company. This makes it a cash on demand product. As opposed to loans and lines of credit, the factoring line has flexible limits. As a matter of fact, the limits are based on your ability to invoice, making it an ideal growth tool. Lastly, doctor office factoring is easy to qualify for and the personal credit of the practice owners is usually not involved in the financing decision.
Both David H. Urmann & Marco Terry are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
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