Importance of Internal Auditor:WeMark India

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Internal Auditing, according to the Institute of Internal Auditors (IIA), can be defined as an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations. The internal audit activity helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes.

In other words, internal audit provides an independent and unbiased assessment of the operations of the organization. It renders information to the management regarding the management of risk effectively. It acts as a catalyst for improvement in government processes. Being an advisor, it tells management of the organization what it needs to know and at what time. Thus, it has become very vital for the success of any organization to conduct internal audits.

There are various types of audits conducted by the organizations to achieve particular objectives. Operational Audit, Program Audit, Fraud Audit, Ethical business practices Audit, Compliance Audit, Control self-assessment Audit, Financial audit, Stock & Cash Audit, Health & Safety Audit, Food & Quality Control Audit, Trade License Audit are some of the internal audits.

Internal auditor is an organization’s critical friend. A friend who can challenge current practice, champion best practice and act as a catalyst for improvement. Following are the certain activities performed by the internal auditor in order to help organization accomplish its strategic objectives.

  • Internal auditor evaluates controls and give advises to managers at all levels. He assesses the tone and risk management culture of the organization at one level and reports on the effective implementation of policies at another level.
  • Internal auditor identifies key activities and relevant risk factors associated with them. The ways in which an internal auditor assesses the risks are hugely impacted by changing trends and economic conditions.
  • The techniques of internal auditinghave changed from a reactive and controlbased form to a more proactive and risk basedapproach. This enables the internal auditorto anticipate possible future concerns andopportunities as well as identifying current issues.
  • Internal auditor should be well-versed with the strategic objectives of the organization to have a clear comprehension of how the operations of an organization fit into a bigger picture.
  • Internal auditor reviews compliance to ensure that whether a certain organization is adhering to rules, regulations, code of ethics, laws, guidelines and practices or not.

WeMark is a leading company which conducts around 1.5 lakhs audits every year.

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Mystery Shopping: Pros and cons

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WeMark India is Best Mystery shopping is a new and evolving field but sure not monotonous like the usual 9 am to 6 pm jobs. Nowadays, increasing number of people especially the college goers have the thirst to earn for satiating their ever increasing expenditures. And for them what could be a better job than mystery shopping for the fact that it gives them the chance to be paid for things they would do normally. So why spend when you get paid for it and what you are desired to do in return is review it without being biased.

Not merely college goers but also the people who love trying out new things and are not perfect fit for the usual job routines can always have an experience of being a “mystery shopper”. Like any other field, this job profile too has its own pros and cons which would vary with each individual

PROS:

  • Working hours: Adopt the working hours as per own suitability and lifestyle.
  • Interesting: The job varies as you get to visit different places for reviewing services and products and hence there’s little chance of becoming bored.
  • Choice: You also get the freedom to choose the assignments that go well with your interests as then the review that would come shall be more close to the genuine one.

Cons:

  • Company Legibility: There are a good number of genuine mysteries shopping opportunities out there but at the same time, there exist frauds as well. The golden rule here is never to sign up to a company which asks for payment before they offer you a job – the legitimate companies only ever require you to pay out unavoidable expenses upfront, i.e. for goods at the time of purchase which are later reimbursed.
  • Reporting: You might be good at evaluating services but if you can’t express the same in a detailed manner; then you are not apt for it. Mystery shopping reports tend to be extremely detailed and lengthy and a large proportion of your time can be taken up by filling them in.These are the Pros and  cons  by the Best mystery shopping Company in Delhi.

Business Strategies:- Competitive Benchmarking

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Benchmarking implies an optimum comparison of one’s business processes and performance metrics to industry bests or best practices from other companies. Quality, time and cost are the defining factors that help examine if all the processes are in sync or not. If yes then well and good but a lack of it is surely not good for the overall wellbeing of the business that one is dealing in.

For this management generally identifies the best firms in their industry, or in another industry where similar processes exist, and a comparison of the results is carried out. This paves the way for learning that how well the targets perform as well as getting a thorough understanding of business processes that provide an insight as to why these firms are successful. And this is what WeMark India does; Mystery audit.

The purpose of companies via WeMark mystery shopping is to gain a level of insight that allows them to evolve marketing strategy based on competitor insight. Nothing could help evaluate the business better than a good comparison with the competitor work structure. But this merely implies to evolve in a way that puts you above the competitors and not to be merely dictated by what you learn about competitors.

WeMark india Benchmarking, in the case of Mystery shopping, is best done as part of a larger framework for strategic planning .Once all factors which affect the commercial performance of a company are identified, metrics can be defined for the key performance indicators of the industry or marketplace – these measures or “benchmarks” are then used to develop new initiatives for the marketing team to enhance its overall competitive position.

To sum up; simply knowing how you compare, finding quick wins and defining your medium to long term strategy empowers you with more control.

WeMark India Reviews: A Hub of Unique Mystery Shopper Database

Wemark India : Mystery Shopper Database

Wemark India : Mystery Shopper Database

WeMark India have one of the unique mystery shopper database. They are just like a group of normal customers who would give you a critical insight of your customer service and your brand. They have them available in almost 40 countries of the world and they are carefully picked by us on the basis of fulfillment of certain criteria. Some of them are working with WeMark India on Full time (5000+) basis and some of them are Part time (45,000+) mystery shoppers. WeMark’s mystery shoppers are detail oriented, thorough observant and committed to deadlines, they are honest in their evaluations and keep all information regarding the assignments confidential.

WeMark  have mystery shoppers from various fields of the industry. You pick an industry and we have one working as a Mystery shopper with us like for example we have:

  • Ex General Managers of 5 star hotels
  • Hoteliers with 10+ years of experience in Business Excellence
  • Frequent Business Travelers
  • Airlines Captains and Co Pilots
  • Fashion and Hotel Critics
  • Corporate Trainers and many more

Also their database is constantly updated and filtered because we believe in keeping only the best.

Visit : http://www.wemarkindia.com/mystery_shopping01.html

Types of Mystery shopping Audits at Wemark India

Types of Mystery Shopping at Wemark India

Types of Mystery Shopping at WeMark India

Organization leaders are increasingly challenged to improve their operations and meet customer demands for price, service, experience and quality. To get an insight into what happens when prospective buyers are in contact with your sales and customer service teams, they use Mystery shopping as the best tool. Mystery shopping can assist your company in objectively measuring your customers buying experience. It will help you identify training requirements, opportunities to improve your customer care policies & procedures.

Mystery Shopping will help your business to:

  • Evaluate Staff Performance
  • Highlights customer service issues
  • Improve and reward your Customer Service team

 WeMark India provides Mystery Shopping which has specifically-designed matrices, solutions, and training programs to address every domain in all the industries. WeMark uses customised methodologies to assess how customers experience various products and services. The typical area that they cover are : Brand Assurance/Compliance Evaluations, Customer Experience Evaluation, Customer/Guest Service Evaluations, Customer Touch Points Evaluation, Signature Employee Evaluation, Brand standards Implementation Evaluation etc. The various type of mystery shopping audit you can get under WeMark’s Mystery Shopping Service are as follow:

  • Experience Mystery Audits
  • Price Break Mystery Audits
  • Sales Mystery Audits
  • Promotion Mystery Audits
  • Hygiene Mystery Audits
  • Video Mystery Audits
  • Telephonic Mystery Audits
  • Fire and Safety Audits
  • MICE Audits
  • Competition benchmarking

For More Details Visit : http://www.wemarkindia.com/mystery_shopping01.html

Wemark India : Due Diligence Program

Wemark India : Due Diligence program

WeMark India : Due Diligence program

Due diligence is used to investigate and evaluate a business opportunity. The term due diligence describes a general duty to exercise care in any transaction. As such, it spans investigation into all relevant aspects of the past, present, and predictable future of the business of a target company. Due Diligence programs were developed with the goal of improving decision making through providing a structured, systematic, and science-based program of planning, identifying, prioritizing, collecting and analyzing appropriate, relevant, necessary data; providing a consistent, more efficient, and methodical approach supporting fundamental decision management.

Due diligence is a program of critical analysis that companies undertake prior to making business decisions in such areas as corporate mergers/acquisitions or major product purchases/sales. The due diligence process, whether outsourced or executed in-house, is in essence an attempt to provide business owners and managers with reliable and complete background information on proposed business deals, whether the deal in question is a proposed acquisition of another company or a partnership with an international distributor, so that they can make informed decisions about whether to go forward with the business action.

The adoption of formal Due Diligence programs should be a strategic initiative by the decision-makers of all organizations, for the first time, using formal structures for the decision management process. Once implemented within an organization, Due Diligence Standards are an integral, ever-present facet of the organization’s strategy, assisting management through every decision; creating significant improvement in the organization’s capabilities, risk reduction, agility, morale, profitability and success.

 The Due Diligence Programs benefit all who rely on due diligence services, such as Board Directors, senior management, attorneys, accountants, government regulators, etc. It also benefit all who are actively performing due diligence engagements. If you incorporate due diligence programs into your decision-making and due diligence, your organization, both large and small enterprises, will benefit through improved performance, more reliable results, and increased profitability.

WeMark India offers Due Diligence program under its Market research service. If you want due deiligence program for your business , WeMark India is the right place.

Visit : http://www.wemarkindia.com/

Wemark India Compliance Audit : Protect and Enhance Your Business Values

WeMark India Services

WeMark India Services

A compliance audit is a comprehensive review of an organization’s adherence to regulatory guidelines. Independent accounting, security or IT consultants evaluate the strength and thoroughness of compliance preparations. In simple words Compliance auditing determines whether a process or transaction has or has not followed applicable rules. If rules are violated, the auditor determines the cause and recommends ways to prevent future deviations. The rules being tested can be those created by the organization for itself through corporate by-laws, policies, plans, and procedures; can be those imposed on the organization through external laws and regulations; or can be those external standards that the organization has chosen to follow .

It has been a challenge for internal and external auditors to change the organization’s attitude from compliance being a chore that it is forced to implement, to compliance being an opportunity to improve business processes through standardization and measurement.  As the business and regulatory environments continue to evolve, organizations face emerging risks that challenge traditional strategies and assumptions. In this environment, resilience is the key to organizational survival, and companies need to achieve a balance of governance, risk-management, regulatory compliance, and performance.

WeMark India combines industry knowledge, experience, leading methodologies, and a performance focus to help enable internal audit, risk management, and compliance. With commitment to integrity and accountability, WeMark compliance auditing provides value to governing bodies and senior management as an objective source of independent advice.