Remote Working – Advantages & Disadvantages

Remote Working

Working remotely has always been an attractive prospect for people of all ages and professions. Recently, remote workers are increasing worldwide as technology allows global collaboration and many people find it suitable to work from a home or a coffee shop or a work-space they choose, at the times when they can be most productive

Did You Know?

***** Fact 1 ****

The primary reason employees reported choosing to work from home was for better focus and increased productivity. The second reason was to reduce their commute.

(Source: Owl Labs)

**** Fact 2 ****

90% of remote workers plan on working remotely for the rest of their careers, and 94% encourage others to give remote jobs a shot.

(Source: Buffer)

 **** Fact 3 ****

Loneliness (21%), collaborating and/or communicating (21%), and distractions at home (16%) are the biggest struggles for remote workers.

(Source: Buffer)

**** Fact 4 ****

Companies that allow remote work experience 25% less employee turnover than companies that do not allow remote work.

(Source: Owl Labs)

 

Advantages and Disadvantages of Working Remotely

Advantages:

  • Work anywhere and anytime!

Working remotely gives you the opportunity to choose your work space and control your time. You are not limited this way to any geographic location, nor to strict “working hours”, which will increase your comfort while working, and thus drive your productivity. (This might not sound really interesting if you are from that type of workers who are not really self-motivated to manage their time without some supervision or management!)

  • Well…No commute!

Waking up early in the morning to head to work so you do not get stuck in traffic… this is the main concern for all full time employees! Working remotely helps you avoid a lengthy commute, delays which are beyond your control and/or getting stuck in traffic for hours and arriving late to work. This could be the best way to start your day calmer, with less stress and tension.

  • Yes to Diversity

Remote work offers the opportunity to grow and go international! Working remotely is definitely an added value for both employers and employees. Having remote workers from all over the globe who are all working as a “team” brings cultural, ethical, educational, cognitive and creative additions which will help in enhancing, developing and improving the work environment.

Disadvantages:

Now that we mentioned some benefits for working remotely, let’s talk about the dark side of the moon! Working remotely often brings up some challenges among which we can list the following:

  • Distractions are always there!

Full time employees definitely face distractions in office, however these distractions get worse while working from home. Having kids, receiving unexpected guests, cousins and friends coming over, hearing TV noises, preparing lunches and dinners, all of these are some of the many distractions that a remote worker can face when at home!

  • No “real” work-life balance…

Working remotely might seem to be opening chances for you to enjoy a work-life balance, however it is not really the case, especially that you do not have any separation between workplace and home space. You are now in a too much comfortable and familiar environment, where you also do your daily home tasks, which will therefore minimise your concentration level.

  • Unhealthy Lifestyle

While working in an office, companies are providing ergonomic chairs and suitable desks for your health; however, while working from home it is a little bit harder to set this healthy work space and equip it with the adequate furniture. Some remote workers might like to work lying on the couch, and unless they are informed otherwise, they may be unaware that this may cause them terrible back pain in the future.

Testimonies of some of Cedar Rose Remote Workers:

“Many reasons come to my mind of why I like working remotely with Cedar Rose, mainly:

1-      Time management is pretty important to me specially that I have my own office. Workload tends to be irregular, so this kind of work helps me juggle all my tasks at my ease.

2-      My productivity level increased, noting that I am working in my own comfortable environment.

3-       My financials stabilised and increased radically as I control my own income.

Yet, there are challenges of working remotely, but personally, I face only one challenge, which is the lack of social interaction…  And in order to not feel isolated, I try to take breaks, go for walks and sometimes work from public places like a coffee shop or work with a friend.”

Anna – Maria Hbayter, Arabic/English Remote Worker

“Among the reasons why I enjoy working remotely with Cedar Rose:

  • The team is very friendly and always willing to help.
  • I get to manage my own working hours, without having to miss out on other work opportunities.
  • I found the guidelines and tables provided by the company to be quite helpful, and they are updated regularly.

 

Challenges:

– Losing focus after working too many consecutive hours.

– Thinking I will have time to do things later and ending up working late to get everything done.

  • Solutions:

– Take many breaks.

– Engage in sports and work in a coffee shop to avoid feeling isolated.

– Write a to-do list every morning and setting a maximum number of hours for every task before moving to the next one.

Guitta Njeim,Arabic/English Translator

“Working online has brought about an interesting opportunity that has never been an option for our fathers. You can now work and travel freely as you do not have to show up every morning at a bricks-and-mortar workplace. Besides, you can decide about the working hours and how much money you want to earn. Cedar Rose has provided its remote workers with all these options.

Nevertheless, there are also challenges involved. Not everyone has the willpower and self-discipline minimum prerequisites for working online.

Possible solutions might be working on your willpower by employing a system of positive and negative reinforcement and by dividing the tasks into smaller chunks.

Babak Firouzzadeh, Persian/English Translator

What are your thoughts? Do you work remotely? If so, we’d love to hear your experiences, tips and advice in the comments below.

Written by Maria El Helou

Read more article in our newsroom here.

Image by Freepik

*** The sole purpose of the article above is to generate public discussion, it has no intention to constitute legal advice. ***

GDPR – What have we learnt and what more can we expect?

GDPR

There is no question that when the General Data Protection Regulation (GDPR) was enforced by the European Commission (EC) on the 25th May 2019 it shook up the corporate world. Consumers are becoming more aware of the handling of their private and personal data and more and more businesses are being held accountable for private data misuse. GDPR is, perhaps, the most elaborate and corporate-defining, set of regulations that the business world has experienced in the 21st century. As the world continues its journey within the digital world, a technological age, regulations such as GDPR are starting to parallel basic human rights, akin to rights such as Freedom of Speech. Our data-driven world requires more understanding and precautions over our personal data and GDPR, for just over a year now, has been enforcing just that. It is important to deliberate and acknowledge how far GDPR has already taken us and what lies ahead.

Understandings & Reflections of GDPR
The unsurprising initial ‘noise’ of GDPR is starting to quiet down as we move to a more implicit understanding and a greater acknowledgment of the regulation. But what have the outcomes of GDPR been in this last year?

1. Black & White Understanding
If we have learnt anything from GDPR since its enforcement, it is that it provides clarity over who serves it, who it applies to, what enforces it and penalties for incompliance. Business has undergone a major data-driven transformation in the last decade and now, with the help of GDPR, consumers can now begin to understand their rights over their own private and personal data. Data-privacy is becoming an ingrained concept, a right, into our everyday lives, bolstered by the amount of data that consumers interact with, whether it is on social media, buying insurance or practically anything you do in your day-to-day activities. In the last year there have been over 95,000 complaints issued by consumers in relation to GDPR incompliance which highlights that the everyday consumer is becoming more aware and educated to their individual rights of data-privacy and data-control.

2. GDPR’s Muscle Flex
Although GDPR is something that goes on in the background, its repercussions can be disastrous for both small companies and large. The impacts of incompliance aren’t limited to fines, but you may also receive financial sanctions, and, perhaps the most effective drawback, reputational damages. As consumers become more aware of the rights concerning data-privacy, they are less likely to get into business with companies that carry a poor reputation for looking after client data. The EC have pushed fines to companies amounting to €20 million or 4% of global revenue – whichever figure is higher. Moreover, some of the most notorious financial penalties have recently been handed out to some of the biggest companies in the world, such as Google in January 2019. Google were fined a hefty amount of €50 million by the French National Data Protection Committee, GDPR has proved to the corporate world that no one, no matter how big, is excused from complying with the regulation. The fact that no company can hide from the effects of the General Data Protection Regulation enhances the fact that data-privacy is becoming and has become a norm in society, a core value of human rights and an overall protection of private data.

Where is GDPR heading to next?
GDPR punishes all incompliance and leaves no one to spare. Is it rampaging on to become a tyrant or will the regulation quit while it’s ahead? The good news is that GDPR is out to protect consumers and will hold all accountable for incompliance, naming and shaming as it goes along. The future of the regulation will show it maintaining its current state, providing fines, financial statements and the ever-so disastrous reputational damages that it bears. However, for companies, this means that there will be more of these repercussions until the safety of consumer data can be assured. Our data-driven world will attempt to engrave GDPR into it as natural law, a natural right of each individual and the effects for incompliance are as big as the statement it holds. The European Commission has set a solid precedent in their iron fist approach against incompliant organisations in hope to breed a corporate society of greater legitimacy and trustworthiness. GDPR is trying to create a better future for businesses and consumers to act upon, for consumers to healthily put their trust, their data, into legit and compliant companies.

Pro-GDPR
Cedar Rose is pro-GDPR and since its enforcement in May 2018, we have stayed on top of the necessary policies and regulations to ensure we conduct business legitimately. Companies and consumers have trusted us with their data for over 20 years; we acknowledge them and owe them their privacy in any way possible. We have our Data Protection Officer (DPO) who keeps up with the current affairs of GDPR and makes sure that our company complies with what is necessary. We want to create a friendly and inviting opportunity for our consumers to take part in, a company you can trust with your more sensitive data. We understand the importance of GDPR and wholeheartedly comply with the regulations. We are the go-to data-driven company for the Middle East and North Africa.

But like all companies, we can’t just sit back and say we’ve checked all the boxes, it’s so important to stay abreast of new rules and regulations around business, data and privacy, so do watch out for the proposed EU ePrivacy Regulations possibly coming soon…

See some of our other articles such as ‘Corruption: Steps to Prevention & Avoid Potentially Harmful Risks‘ 

Written By Jack Evangelides, Marketing Assistant

*** The sole purpose of the article above is to generate public discussion, it has no intention to constitute legal advice. ***

Cleaning Dirty Data Daily – The Importance of Data Cleaning

Data Cleaning

Operating since 1997, Cedar Rose is known to have the largest single cleaned database of analytically linked companies’, shareholders’ and directors’ information across the Middle East, Africa and Asia, available to our thousands of clients around the world. Data cleaning has always and will always be a priority to us.

No matter how data is gathered and collected, there will always be some level of error. Data in the real world, certainly in the regions we gather it from is mainly dirty: incomplete, disorganized, unstructured and inconsistent. Incomplete data stems from non-available data values when collected and different criteria between the time collected and the time analyzed. Examples of a lack of attribute values could be an incomplete address or incomplete translated company name. Original data contains errors such as typing, spelling, word transposition (e.g. number of premises or number of employees equal to -3, or even a Shareholder/ Manager who is 230 years old).

Data can also be inconsistent and duplicated; containing incompatibility in codes or names (e.g. Company Name: “XXX Company LTD” or “XXX Company Limited” could be considered one registered entity although in the latter case the legal form is Joint Stock Company which is not reflected correctly in the name). The lack of compatibility is mainly between the different data fields. Inconsistent and duplicate data, as in the example above, comes from different data sources merged together or non-uniform naming conventions.

These types of mistakes can result from human error, poor recording software, or incomplete control over the type of data imported. Before processing the data for analysis or use, error-prevention strategies should be implemented to reduce common errors as much as possible, and to ensure that data is accurate, valid and consistent.

Maintaining an excellent quality database is essential for our company to ensure accuracy in our credit and due diligence reports. In our data warehouse, currently containing more than 12 million companies and more than 23 million individuals, data cleaning is a major part of the extract, transform and load (ETL) process. Data cleansing (also known as data cleaning or scrubbing) is the process of spotting and rectifying inaccurate or corrupt data.  Incomplete, inaccurate or irrelevant data is identified and then either replaced, modified or deleted.

Also worth noting that all our data is date stamped and graded. Our clients can now check the date of each data field in addition to its source grading. In recent years, Cedar Rose has implemented a system for the grading and evaluation of the source reliability, as well as of the information and intelligence credibility of the majority of our data. This grading is invaluable to our subscribers and due diligence clients who can then calculate which data they can rely on 100% and which has less reliability (eg; data from third parties, assumed to be correct but not verified).

No matter what sector you are working in, from public health to extractive industries to education, you can have access to our cleaned and linked database of companies, directors and shareholders via our website at www.cedar-rose.com, via API or by a CRiS subscription.

For further information, please contact Hannah King or Nicole Konstantinou to arrange a demonstration of CRiS, or go to our website to search and download or order a fresh investigation on your client today.

Visit our newsroom for more relevant news!

Written By Elissa Ghosn, Data Analyst

 

*** The sole purpose of the article above is to generate public discussion, it has no intention to constitute legal advice. ***

API – An Insight into Data-Sharing in the 21st Century

API

Application Programme Interface, or as most know it, API, has revolutionised the way the world operates and has provided efficiency beyond belief. The inherit design of this application software acts as the backbone of modern connectivity, providing and utilising efficiency, reliability and speed. API provides alternative means to achieve outcomes, meet demands and diversifies the way Business-to-Business (B2B) operations are carried out. Astonishingly, according to TechCrunch, Salesforce generates 50% of its revenue via API, eBay nearly 60% and Expedia an unrivalled 90%. This relatively new concept, a technological marvel, has gone further than most would have imagined. It is important to understand the principles and benefits of APIs and what they can, or already do for your company.

The What
API, on the surface, is complex software with a lot of technical jargon attached to the matter. However, after understanding the practicalities and the fundamentals of Application Programme Interfaces, it becomes more evident what they intend in doing.  In layman’s terms, APIs allow one piece of software to make use of the functionality or data of another. API functionality’s main purpose revolves around B2B activity. This machine to machine interface can transfer data, in real time, and provide an array of instant possibilities and efficiencies. Importantly, APIs help create seamless networks in order to improve value transfer with suppliers/vendors, clients, partners and employees.

Incredibly, since this innovation become available in 2005, the last 14 years has shown an astonishing rise in usage, illustrating how necessary and important the day-to-day use of APIs are. Below is a table of the growth of Web APIs submitted to the ProgrammableWeb directory from 2005-2018.

API Growth

The Benefits
APIs have the functional capacity to perform a multitude of tasks that can be utilised from business to business. From sharing data and processes to real-time results, APIs are a heavily relied upon software. In a nutshell, an API can help create seamless networks that improve value transfer with clients, suppliers and more. Additionally, some core benefits are:

  1. Ease of Access – In order to provide the best customer service you want to make life as easy as possible for your clients. Well, APIs can enhance the user experience and save time making your customers jump through hoops of login forms, order forms and alike. If an API is set up for your end user, integrated into their application, you are essentially removing any barriers from them using your service. This may just generate a long-term client and a happy one at that.
  2. Innovative – In some cases it is possible for API providers to incorporate functionality that end-users have adopted and extended themselves. Through traditional web applications and user experience you have pre-determined how your service is to be used. However, via API, flexibility and innovation may open up a variety of other means for your users to engage in. This could create whole new industries and verticals that you could service.
  3. On-Demand – The real-time applications of APIs provide a platform in which your users can utilise the most efficient of services. An automation of requests and responses will eradicate any roadblocks in traditional service. Your business will be digitalised and primed to scale with the functionalities that an API has to offer.
  4. Customer Analytics – Streamlining a focus on services you provide can allow your company to more directly analyse and enhance to better suit your users. User experience may depend on how the users interact with applications and time may be overspent scrutinising these fine details, rather than working on the actual services that you provide. Streamlining your focus would enable you to understand exactly what your customer’s want, allowing you to better plan your business’s strategic road map.

Cedar Rose’s Availability
Cedar Rose has always taken pride in being one of the most innovative and up-to-date companies in its field. Thus, we heavily endorse the use of APIs to provide a bespoke service to our clients on a daily basis. As we offer data all around the world to a wide array of clients at all hours of the day, we need to make sure that we have accessible services for the greater benefit of everyone. Henceforward, we have enhanced our API capabilities to allow for instant services for credit reporting, risk assessments, due diligence and electronic identity verification. We believe that our customers deserve the best, and when you need critical data for urgent decision-making matters, we can provide you with the relevant data-transfer in a fast, streamlined and secure approach.

Visit www.cedar-rose.com today to see how we can help you.

Written By Jack Evangelides, Marketing Assistant

*** The sole purpose of the article above is to generate public discussion, it has no intention to constitute legal advice. ***

Waste Not Want Not – The UAE Fuel Initiative

Waste Not UAE

On an international scale the world is becoming more environmentally conscious, acknowledging the past failures that have caused global warming and unwarranted extreme weather. In reaction to rising environmental concerns, the UAE has adopted a new initiative that, essentially, turns waste into fuel. The United Arab Emirates are leading the way forward with their sustainable ideas and making positive strides for a cleaner, brighter future. RDF, Refuse Derived Fuel, is the product that will make all of this happen. Additionally, this streamlined focus on eco-friendliness, alternative energy and sustainability goes hand-in-hand with the upcoming 2020 Dubai Expo, which centres on the very same values.

Set in Stone
Two UAE-based contractors, Besix Concessions & Assets and TG ECO Holding have recently inked the deal to develop and operate a RDF facility in Umm Al Quwain. The construction of the facility will begin operations in December 2019 with expectations to open by April 2020. Moreover, the RDF facility hopes to start receiving waste by September 2020 and begin full operations to convert this alternative energy to practical use.

This sustainable project is set to cost an estimate of $40 million and to be co-financed by the Ministry of Presidential Affairs. The benefits from this initiative have incredible potential and scalable possibilities, not only for the UAE but for the Middle East and even on a global scale. The expected outcome of the RDF facility is to be able to receive 1000 tons of waste per day, gathered from households. With this in mind, the Refuse Derived Fuel scheme will approximately divert 90% of household waste from landfills.

“Emirates RDF contributes to the UAE’s strategic objective of landfill diversion of least 75 percent by 2021 and it helps cement plants in decreasing their use of fossil fuels.” -Nico de Koning, project manager of Besix Concessions & Assets Middle East and general manager of Emirates RDF

Alternative Energy

Alternative energy is a hot topic of the 21st century, and, especially, within the last 5 years. An alternative energy source, in combination with a reduction in waste can potentially be a revolutionary factor and a turning point for civilisation. RDF is to begin operations and will be implemented in cement factories as an alternative fuel. This, therefore, means that it will partially replace traditional energy consumptions through the use of gas or coal. The signing ceremony was accredited highly, with climate change ministers present and the director of the Crown Prince’s court of Abu Dhabi. The plans for this initiative have been finalised and the green light has been given, now we wait to see what sustainable implications this may have within the UAE.

“It contributes to the UAE realizing its ambitious sustainability goals and it helps cement plants decreasing their use of fossil fuels.” -Nico de Koning, project manager of Besix Concessions & Assets Middle East and general manager of Emirates RDF

Get Involved – With Cedar Rose

Cedar Rose is an established business intelligence company with over 20 years of experience and specialises in the Middle East and North Africa (MENA) region. We want to help you get involved with great initiatives such as the waste alternative energy, RDF, which the two contractors are forming. So how can we help? We can provide an extensive amount of data on companies and individuals that may help you form the right partnership, merger or help mitigate risks to keep business healthy and sustainable. As your business grows, so does the threat of risk, when you order a Cedar Rose company credit report, or due diligence investigation, you can eradicate any unwarranted potentials. Conduct healthy business with Cedar Rose.

Going Green
As a company we take great pride in making changes to sustain the environment, no matter how big or how small. We are sponsors of the Lets Make Cyprus Green organisation that promote eco-friendliness throughout Cyprus and we actively participate in their events in our fight against climate change.

What’s your country or company doing to help the environment?

Interested in more articles? Check out Saudi Arabia’s new initiative here.

Written By Jack Evangelides, Marketing Assistant 

Sourced Image: Pixabay

 

*** The sole purpose of the article above is to generate public discussion, it has no intention to constitute legal advice. ***

Green Card Initiative: Saudi Arabia opens its Economy

Green Card

Saudi Arabia is continuing its efforts to reach their 2030 vision of diversifying the economy, however not through traditional means. Similar to the United States green card system, Saudi Arabia is implementing a similar initiative, officially known as ‘Privileged Iqama’. This idea has been in the pipeline for over 3 years, hinted by Crown Prince Mohammed bin Salman. The idea is simple yet effective, attracting visitors to reside in the Kingdom that, in turn, would boost the economy. The Kingdom is undergoing mass transformations to reach their vision, to develop robust public service sectors, enhance tourism, and strengthen the economy to create an overall better place to live, financially and socially. However, what is ‘Privileged Iqama’ and how can it really help?

“We are working on a specific program similar to the green card.” – Crown Prince Mohammed bin Salman, in retaliation to a question on non-oil revenue measures.

Privileged Iqama
Privileged Iqama, commonly known as the Saudi ‘green card’ aims to provide permanent residency to foreigners if they meet a certain criteria. It is understood that the individual would need to be wealthy, highly-skilled and without a criminal record. If you meet these three conditions you will be entitled to a residence permit without any need for a sponsor, which is the traditional regulation currently implemented in Saudi Arabia. Your status will be permanent, subject to annual renews, or, possibly, unlimited. Although, you may be screened and required to prove that you meet the conditions, however, there are many other benefits that you will receive if granted a Saudi green card. For example, the benefits include the opportunity to have ownership of property and transport, recruit a workforce, receive private employment, travel without restrictions to and from Saudi Arabia and even sponsor visitor visas for relatives. 

When this initiative was first hinted, in 2016, it was said to take up to 5 years before implementation, so far the Kingdom is right on track with their promises and their 2030 vision. 

The Benefits of the Saudi Green Card
Expatriates have always sought out the Kingdom as a great place to reside in, however, there are a handful of cases where it hasn’t worked to their favour. The burden of having a sponsor and not being given the same rights as a legitimate resident has often unfairly left some individuals who have had to pay huge sums of money to relieve a dispute. Due to the magnitude and success of expatriates in Saudi Arabia, combating this problem and finding a solution to provide them with a necessary pass, or a green card in this case, to healthily instigate business may have positive outcomes. The new system plans on producing an enhanced and robust social cohesion, inviting many to establish businesses and, for those who are already established, to continue positive and robust growth for their enterprises. The success of companies and individuals within the Kingdom will translate into the success of the country. Affluent living will attract more investors and entrepreneurs to the Kingdom, diversifying the country’s economy and keeping on track with the 2030 vision. 

In another light, providing privileged Iqama will also reduce travel barriers, with many residents having to make ‘visa runs’ every few months, eliminating queues at embassies and many other inconveniences that come with having a visa. The current limits on visas will be a thing of the past. Although this initiative is currently in its early stages, the country is making quick ground on transforming in line with their 2030 vision. Is Saudi Arabia on your radar? 

Know the Kingdom
Saudi Arabia may just be your next potential business move, however, every transition comes with a risk. Attaining a privileged Iqama is one thing, but understanding the way a country works, how to do business and any mitigating unwarranted risks is another. It is important to do your due diligence, learn how the country operates, the typical business week, formalities that you need to know, the legal system, what similar types of businesses exist and more. If you are considering engaging in employment or local partnerships, it is useful to have the full background on the individuals and businesses you may be working with.

Cedar Rose can offer in-depth investigations into regions such as Saudi Arabia, which we have been covering for over 20 years. With a due diligence investigation we can provide a safer passage to instigate business. The more you know the better. Avoid harmful surprises with high quality data, research and discreet investigative reports from Cedar Rose. 

While you’re here make sure to check out the importance of company credit reports 

Written By Jack Evangelides, Marketing Assistant

 

*** The sole purpose of the article above is to generate public discussion, it has no intention to constitute legal advice. ***

Trade Reference – Ending Late Payment Culture One Rating at a Time

Trade Reference

A trade reference is a trader’s opinion on the creditworthiness of another trader in the same trade. It should come from a business to business supplier with whom the firm is dealing with on a credit account basis. When applying for trade credit, the customer is asked to provide contact details for trade references in order for the supplier to get feedback about the experience of other suppliers in working with this client. 

Trade Reference in Cedar Rose Company Credit Reports
In the Middle East and North Africa, it is well known that there is a lack of available data with regards to actual payment history. In addition to this, companies in most MENA countries are not required to file financial statements which make credit analysis more challenging.

At Cedar Rose, for years, while compiling a Company Credit Report, suppliers have been contacted and asked to complete a trade reference questionnaire providing an opinion based on their experience with the company being investigated. The information is inserted in the system and constitutes a part of the payment history of the company. The data is assigned a quantitative measure and is included in the CR Score which is a credit risk scorecard and proprietary scoring model developed by Cedar Rose to evaluate a business risk level with a set of statistical indicators.

Cedar Rose Trade Rate Initiative
In late 2018, Cedar Rose has introduced the Trade Rate Scheme so business owners and credit managers can anonymously share their collective voice and have their say on late payments through a scoring system. Allowing companies to rate their customers’ payment performance online is both fundamental and lacking within the credit sector. This initiative aims to provide a more efficient and robust credit reporting service. By joining forces, business people around the world can help each other to make better informed choices about whether or not to extend credit and on which terms.

It’s very simple to participate in this initiative and there is no cost at all. Just search for the company on Cedar Rose website and click on “Trade Rate” to add your rating on the simple form – it takes less than two minutes of your time. Your rating will trigger is to freshly investigate your customer so after 15 days; an updated Company Credit Report will be available on our website at a discounted price for you to download.

In case the company you wish to rate is not available on our website yet, please email me on cynthia.gebeily@cedar-rose.com and I’ll make sure we add it to our database and let you know when the download and Trade Rate options are available.

Have you seen our article on AI?

Written By Cynthia Gebeily, Head of Credit Reporting

 

*** The sole purpose of the article above is to generate public discussion, it has no intention to constitute legal advice. ***

CYPRUS COMPANY WINS PRESTIGIOUS CREDIT AWARD

Cyprus Award Win

CYPRUS COMPANY WINS PRESTIGIOUS CREDIT AWARD

Cyprus company; Cedar Rose International, whose headquarters have been based in Limassol since 2007 were awarded Credit Information Provider of the Year – Commercial Credit at a prestigious awards ceremony in London’s Grosvenor Hotel on 16th May, 2019. The event, Credit Awards 2019 sponsored by Experian, recognised the best in the Credit industry from around the world. Cedar Rose was represented at the event by Mrs Cynthia Gebeily CICP, Head of Credit Reporting, who manages the company’s research and development centre in Beirut, Lebanon. The award was presented to Mrs Gebeily by British TV personality Jimmy Carr and Jonathan Baum, Chief Credit Officer of Lloyds Banking Group at a lavish gala dinner ceremony held in the ballroom where Queen Elizabeth II learned to ice skate. The organisers of the awards, Credit Strategy, were celebrating the 20th anniversary of the industry’s most respected awards programme. According to Credit Strategy, a Credit Award is a symbol of achievement and a veritable endorsement of success as judged by an independent judging panel, all hand selected titans of the industry, who have continuously and relentlessly worked to ensure that each decision is fair and impartial.

Managing Director, Christina Massaad, said “We are delighted and honoured to receive the award for Credit Information Provider of the Year – Commercial Credit, especially against such tough competition. Our teams in Cyprus and Lebanon work really hard throughout the year to offer the best quality credit reporting and due diligence services and they truly deserve this recognition of their efforts. I am very proud of everyone at Cedar Rose and it means a lot to know that a company based in Cyprus and Lebanon was judged to be the best in the industry by such a well-respected panel of judges in the United Kingdom.”

Cedar Rose was initially established in the UK in 1997 and is owned by Lebanese businessman, Antoun Massaad who is very well-known in his adopted home city of Limassol, and his British wife Christina. In 2004 the company set up offices in Lebanon and following the 2006 war in Lebanon when the couple fled with their family to Cyprus, the Limassol headquarters were established. The business intelligence company has been winning awards since 1998, and last year Cedar Rose was the Cyprus National winner in the Digital Technology category of the European Business Awards. What differentiates Cedar Rose from other Credit Information providers is their use of the latest technology to translate, standardise and analyse data from the most difficult to reach countries, their strong and highly qualified research and analysis team who add a manual overview to the reports provided; as well as their particular expertise in the Middle East and African regions. MENA is widely recognised as one of the most difficult regions to conduct business intelligence, though Cedar Rose has also been providing due diligence on people and companies for the MENA countries for more than 20 years. The company now provides global coverage for many of their services.

Contact: helen.lambrou@cedar-rose.com for more information, or call +357 25 346630    

*** The sole purpose of the article above is to generate public discussion, it has no intention to constitute legal advice. ***

Math, Artificial Intelligence and Data – A Whole New World

Math - Machine Learning

Traditionally, a love for math used to be associated with someone you would call a ‘nerd’, however, technologically revelations have proven math to be a fundamental concept in the 21st century. In our data-driven world, companies and corporations are all using math, formulas and computations to ensure optimal efficiency. Without the use of math, there would no artificial intelligence (AI) and no computer science, we would be stuck in a world of slower and more mistake-prone business. Math, AI and automation provide solutions to time-consuming and complex problems where humans would be much less efficient in resolving. So what is the connection between math and AI?

How and where is Math used in Artificial Intelligence?  
Some of the fundamental topics that math holds for machine learning are:

  • Linear Algebra
  • Calculus
  • Probability
  • Optimisation
    • Heuristics
    • Iterative Methods

These areas of math each contain a multitude of further, and much needed, topics to fully understand machine learning. We may not realise, but every day we face examples of AI where math has contributed highly towards. From the most menial of examples such as sending certain emails to spam or, on the other end of the spectrum, self-driving cars, AI and machine learning is all around us.

“The need for remedial math seems widespread enough that even a simple Google search for ‘calculus and artificial intelligence’ turns up a bunch of blogs and additional courses on how to understand the math underlying these assignments.” Forbes, 2019

Math - AI - Data

A few years ago, Apple’s Siri and Tesla’s self-driving cars were something unthinkable or impossible to have. Today, Machine Learning and Artificial Intelligence are unlocking capabilities everywhere around the world; businesses are learning to use new technologies to create intelligent products, personalised experiences, and smarter business functions. What are some examples of artificial intelligence in business?

Business AI
The world is becoming faster, smarter, more complex and more efficient, and we owe a big part of this to artificial intelligence and machine learning capabilities, which all derives from math. Let’s have a look into the everyday AI applications that is commonplace for businesses:

  1. Spam filters,
  2. Personal Assistants (Siri/Cortana/Google),
  3. Automated online chat responses,
  4. Automated insights – used from collated data from a company
  5. Smart searches – according to an individual’s history
  6. Product recommendations,
  7. Fraud detection,
  8. Personalised news feeds,
  9. Language recognition,
  10. Ad targeting.

These are only a few applications of AI that we experience in our day-to-day routines. The evolution and application of math to AI has been an incredible phenomenon and it continues to enhance every day. So the main question is:

Are you using Machine Learning or Artificial Intelligence to add value to your business?

Here at Cedar Rose we have used both Machine Learning and Artificial Intelligence to help us process, translate, transliterate, organise, standardise and analyse large amounts of data. It is our love of mathematics, our close attention to detail and our drive to be the best that keep us ahead of the game.
Finally, for Nerds everywhere now is our time to shine!

Have you seen our latest article on fraud?

Written By Angelique Assaf, Data Strategist

Sourced Image: Freepik

 

*** The sole purpose of the article above is to generate public discussion, it has no intention to constitute legal advice. ***

Corruption: Steps to Prevention and Avoid Potentially Harmful Risks

Corruption

We come across this statement or the like in everyday news. A great slogan used by business professionals and politicians, equally. Yet, how easy is it to prevent corruption and embezzlement? How feasible is enforcing laws and regulations when corruption occurs? Is implementing prevention measures to deter corrupt acts and illicit practises easier than enforcing laws after corruption had occurred?

It has been argued that enforcement of corruption laws after the corruption act has taken place is far easier than corruption prevention. Enforcement is understood to be easily quantified. For instance, if a fraudulent person siphoned an entity’s funds away from the originally intended purpose, the effect of such act can be quantified and the fraudulent person can be arbitrated accordingly.

Fraud prevention, however, is a more complicated process. How many scenarios should an entity consider to ensure adherence to a “zero tolerance” fraud risk policy?

Quantifying the extent to which a corporate policy would go to prevent fraud no matter the degree of innovation and effort put to refine such policies could be limitless. Thus, any fraud prevention agenda should be inclusive of Integrity Due Diligence (IDD) checks. IDD can be viewed as a tool to apply scrutiny and in-depth investigations to identify, verify and better know your client, supplier, business partner or even employment candidates. It not only helps uncover the reported involvement of a Subject or its Principals in a pre-agreed set of specific issues including bribery and corruption, but also helps tracing Ultimate Beneficial Owners (UBOs). IDD will proactively help you in assessing your business risks at early stages.

At Cedar Rose, we offer various IDD services. Our clients have always been drawn to our comprehensive coverage, information reliability, quick delivery times as well as the source and intelligence evaluation through our internally developed 4×4 Grading System. Our IDD services are available via our website and through Application Programming Interface (API). The scalability of our services is attainable thanks to our large team of competent local language researchers, analysts and investigators who are experienced in handling large volumes of IDD cases.

Corruption remains deadly if precautionary measures are not taken. With Cedar Rose, preventive action is made more reachable.

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Written By Lamia Massaad, Head of Due Diligence

Sourced Image: Pixabay

 

*** The sole purpose of the article above is to generate public discussion, it has no intention to constitute legal advice. ***