4 Reasons to Consider A Super Specialty Degree

Becoming super specialists in a field of medicine, rather than physicians, is the need of the hour. This is because with growing complexity in diseases and medical problems, people find it easier and more desirable to seek a specialist than a general physician when they’re sick. Thus even a MBBS degree with an MD or MS will get your practice only a decent start in the city.

Dr. Sanjeev Lalwani, Registrar of AIIMS, New Delhi, says, “With the advancements in the field of medical sciences, highly specialised training is the need of the hour. It has led to increasing demand for super specialised contributors.”.

In India, the two recognised super specialty degrees are Doctorate of Medicine (DM) and Magister Chirurgiae (MCh). Both these degrees require a 3-year course of further study and training.

While DM is a medical super-specialisation that can be done in branches like Cardiology, Neurology, Nephrology, Gastroenterology and more, MCh is a surgical super specialty done in Cardio-thoracic and Vascular Surgery, Endocrine Surgery, Neurosurgery, Urology, Plastic Surgery etc.

Specialisation: A Passion

As a doctor, you must have a burning desire for the branch of specialisation you opt for. A third year MCh student, Dr. Pankaj, puts that he had discovered his true calling during his rotatory MS internship. At the emergency wing, he discovered that 90 percent of the cases were related to road accidents that resulted in head injuries.

A keen observer, Dr. Pankaj was always in awe of his senior neuro-specialists, who handled these cases with finesse. This prompted him to pursue MCh in Neurosurgery. He says, “I have assisted 400 neuro-surgeries in last two years as the course gives more relevance to practical component”. His day commences with a 2-hour theory class followed by visits to the OT, OPD and respective wards.

The Evolution of Medical Care

In keeping up with this growing need and prevalence of super-specialisation, hospitals are gradually evolving as super specialty or multi-specialty centres, that deliver higher quality treatment and medical services.

When Dr. Usha Kumar joined Lady Hardinge Hospital in the 90s, 95 percent of surgeries were open surgeries. She pursued an advanced diploma on endoscopy surgery from Germany, and today, is more into laparoscopic advanced surgeries. She uses ultrasonic wave energy to seal vessels; morcellater that can remove tumour of any size from uterus and ovaries.

“Gynaec endoscopy surgery has become sub specialty in Gynaecology. Earlier everything was handled by one doctor to conduct deliveries, infertility treatment or other surgeries. Now many doctors specialise in one area. It helps in minimizing the chances of complications” says Dr. Kumar. “The idea is to move towards greater perfection in patient treatment”.

Elevating Need for Specialists

Health seems to be a decreasing wealth, thanks to the high stress levels our current lifestyle causes. Today, 6 out of 10 Indians (as opposed to 1 in 3 in 1990) succumb to non-communicable diseases (NCDs) like heart diseases, hyper tension and cancer. The number of cases of tuberculosis is also the highest in the world.

Dr. Meenu Walia, the first DNB Medical Oncologist of India says, “In the coming years, lifestyle diseases including cancer will be the biggest challenge. So, there will be a greater demand for oncologists.”. Expressing her job satisfaction, she says- “The most satisfying moment for me is when your patient comes out of deathbed…and one day walks into your OPD 5 years later and says I am alive because of you,”.

Patient care is today more of a teamwork and no longer dependent on a single specialty. “Most of the surgeries are through cardio-pulmonary bypass that controls the function of heart and lungs by a machine. Here the support of cardiologist, cardiac anaesthetist, cardiac radiologist, cardiovascular pathologist, nuclear medicine specialist is inevitable,” says Dr. Balram Airan, Head of Cardio-Thoracic Sciences Centre, AIIMS.

Striding towards Super Specialty

After a post-graduate degree, MD or MS, you must opt for post-doctoral 3-year DM that allows you to specialise in a specific area. For surgical specialisation with MCh, you must have a recognised MS degree. In totality, you devote a minimum of 11 years to become a specialist. 

The structure of super specialty courses recognised by Medical Council of India, differs from institute to institute. The primary reason for this is the exposure to number of patients and variety of diseases that may vary between private and government hospitals. As you narrow down the field of work, you understand the problem in greater depth.

Some of the institutes in India that offer super specialty courses include AIIMS, Maulana Azad Medical College in Delhi, Amrita School of Medicine in Kochi, KLE Academy of Higher Education and Research in Belagavi, Madras Medical College and Kasturba Medical College in Manipal. These courses are fairly expensive though, with the cost per annum being around Rs.24 Lakh.

However, the earning prospects for specialists are very lucrative, particularly in the private sector where it can be almost 5 to 10 times as that of their counterparts in the public sector. For instance, a senior resident employee at an institute like AIIMS can expect a salary of around Rs.80,000.


Super-specialty hospitals will continue to grow in India, fueled by increasing health-consciousness among the people, increasing patients’ willing to pay and a rapid growth in medical tourism. However, professionals should ensure that they diversify their growth to rural areas, making medical care accessible for all and not crowd in just the big metros

At Bajaj Finserv, we offer Personal Loan for Doctors, which comes with 1-day approval and disbursal. You can avail the loan to finance education in a super specialty degree, with which you look to enhance your knowledge and boost your professional career. Get in touch with us to know more. These loans come with a high loan amount of Rs.30 lakhs which will make you reconsider educational loans as an option.

How Chartered Accountants can protect their practice against Cyber Security Threats

How Chartered Accountants can protect their practice against Cyber Security Threats

As a Chartered Accountant (CA), loss of critical financial data of your client due to a cyber-attack can have far-reaching consequences for your firm, like loss of reputation, trust and ultimately, loss of clientele. identity theft and fraud. With the growth in technology adoption, it’s imperative for you to protect your accounting practice against the cyber security risks.

  • Symantec’s Internet Cyber Security Threat Report of 2017 ranks India as the 5th most vulnerable nation in the world in terms of cyber security breaches in 2016.
  • According to CERT-In’s data, the number of cyber security incidents in India jumped from 44,679 in 2014 to 50,362 in 2016.
  • In one of the security breaches in India, data of nearly 3.2 million debit cards were compromised.
  • According to estimates of Kaspersky Lab, a single targeted cyber-attack can cost an enterprise more than USD 2.5 million.
  • A study by leading IT firm Citrix and Ponemon Institute found that 91% of businesses in India are feeling vulnerable to cyber-attack.
  • In 2013, a hacker stole tax returns of some 900 Connecticut residents in Fairfield County, altered certain details, hoping to collect refunds before the actual filers.

Measures to protect your practice from cyber-security threats

  1. Use Genuine Software

According to Business Practices firm EY, more than 60% of the software used by companies in India are unregulated, thereby, exposing them to cyber-attacks. When you are working with critical financial data, using genuine software is an absolute must.

Maya Ramachandran, Partner, Advisory Services Practice, EY, remarks, “Many organisations secure their hardware. However, they do not pay attention to the software used, which could be unregulated.”

Following best practices related to software compliance and licensing may involve some investment, but can potentially save you thousands of dollars in the long-run.

  1. Invest in Technology Solutions like Firewall and Antivirus

Cyber criminals are smart. You have to be smarter to counter their threats. Installing firewall and anti-virus software protects your system and computer networks from trojans, worms, and other malwares used by cyber criminals to hack your system.

An anti-virus for a single PC with a 3-year license is available for around Rs. 1,000.  A single license 20-user firewall is available for approximately Rs. 28,000.

  1. Implement Cyber Security Culture

A joint report by ASSOCHAM and PwC on Securing the Nation’s Cyberspace notes that businesses should practice self-regulation, instead of just limiting themselves to cyber compliance.

Note that cyber security doesn’t end with installing anti-virus and firewalls. Human vulnerabilities are equally dangerous as software loopholes.

Basic security practices can go a long way in combating the menaces. Such measures include:

  • 2-step authentication for accessing emails
  • Implementing internet usage guidelines
  • Using strong passwords for sensitive data
  1. Vendor Management

In all probability, your assets are being hosted and managed by an external service provider. Soha Systems Survey on Third Party Risk Management found 63% of data breaches attributed to a third-party vendor.

Working closely with your vendors is crucial to mitigate risks. You must understand your vendor’s:

  • Security certifications
  • Encryption measures
  • Data management policies

These are critical to understand to know the level of risks you are exposed to.

  1. Developing Comprehensive Data Security Policies

A comprehensive data security policy with the given elements will help you protect your CA practice from falling prey to cyber attackers.

  • Password management
  • Internet usage
  • Email usage
  • Managing company-owned mobile devices
  • Governing social media
  • Overseeing software copyright and licensing

According to Scott Laliberte, the global leader of Protiviti’s IT security and privacy practice, “It’s imperative that leadership keeps a closer tab on the state of their organisations’ cyber-security programs. Particularly as new technologies are introduced and new approaches to generating revenue are deployed, it’s increasingly important to re-examine existing data security and privacy processes on a regular basis – ensuring that the right systems and people are in place to keep pace with changes.”

A holistic approach to cyber-security combined with the latest tools and the best practices goes a long way in protecting your practice from the threats lurking in the digital ecosystem.

We, at Bajaj Finserv, offer collateral-free CA loans with which you can deploy the latest technology to safeguard your practice from cyber-attacks, manage your firm’s working capital and expand your firm’s clientele. Get in touch with us to know more.

How Warehouse Automation Helps Improve Worker Safety And Operations?

With engineering firms and others gearing up to fulfil the ever-increasing demand of customers, the Indian market for warehouse automation is projected to grow at a CAGR of 10-12% during 2015-20, and is expected to reach USD 3.49 billion by 2020. As production volumes of engineering firms increase, so does the complexities involved in managing a warehouse.

Having a warehouse automation thus becomes increasingly important as they help engineering companies address inefficiencies, eliminate costs related to product aging, manual errors in order picking, larger footprint and energy consumption. It also aids in:

✓ Improving order accuracy and person-hour efficiency

✓ Resulting in more storage space

✓ Ensuring better safety for workers

✓ Reducing need for manpower and thereby, labour and training costs

✓ Bringing savings in energy and maintenance costs

✓ Reducing employee costs and dependencies


Hence, warehouse automation spells higher productivity, streamlines operations and overall sustainability.

Different Aspects of Warehouse Automation:

✓ Robotic pallet pickers efficiently pick fast-moving SKUs by picking full layers of product at a time. They reduce errors in picking and save significant number of manhours.

✓ Stacker cranes are machines designed for automated storage of products. They travel along the aisles of the warehouse where they enter, place and extract products.

Sophisticated Warehouse Management System (WMS)coordinates all the activities in the warehouse, to store, move and keep track of products across the supply chain.

An automated storage and retrieval system (ASRS) incorporates varied computer-controlled systems for the purpose of automatic storage and retrieval of items in a warehouse. It minimises unnecessary parts and products in storage, improves organisation of items, and enables seamlessness in picking, packing and shipping a product out of the facility.

How warehouse automation makes businesses more scalable

-Reduces storage space:

Warehouse management systems assign products a specific number and location and also take into account their popularity. The system will typically place fast moving products closer to the ground floor, which could be a time-consuming process if done manually.

Research suggests that automated warehouses take up 40% less floor space than traditional ones, thus allowing engineering firms to store more stock. Automated lifts and robot carousels ensure a smaller footprint and can significantly reduce the amount of space used.

-Reduces dependencies, costs & inefficiencies related to employees

By cutting down the need for manpower employed and automating labour-intensive processes, automation increases quality control and reduces all employee-related costs- from on-boarding them to paying their salaries. This enables engineering firms to pass on the benefits to their customers or channel partners. By not relying on manpower and running 24*7, automated systems also improve efficiency.

-Saves energy consumption

Installing energy-efficient LED lighting and movement sensors that detect the level of activity go a long way in bringing down the energy consumption of a warehouse. There will also be reduced maintenance costs for the automated system against pallet and forklift trucks.

Facilitates Inventory Tracking and Control

Introduction of a warehouse management system significantly improves accuracy and traceability as product, pallet type, pallet weight and other parameters are all measured as the goods arrive. The products are given a unique barcode identifier with the help of radio-frequency identification (RFID) terminals to enable end-to-end tracking of every item and pallet.
Also as orders are picked correctly each time, there is less time lost in replacement and reordering and less stock checking is required. By using automated systems, firms effectively computerize their inventory as each time the system takes an item, the same is automatically removed from the stock lists, which may have been otherwise missed by human error. A warehouse management system enables one to collect information about every product and its movement across the whole supply chain, thereby, improving inventory control.

Warehouse Automation and Worker Safety

Automation assists workers, it does not replace them. It accelerates processes, save manhours, boosts productivity and competitiveness. It takes away repetitive, risky, and manual jobs so that workers can go beyond their existing roles and take-up more intellectually-intensive duties, resulting in greater engagement and overall safer circumstances.

Repetitive motions like picking an item up and down for hours each day, may result in significant injury in the present or future. Debilitating injuries, such as carpal tunnel, tendinitis, and bursitis, can be prevented with automation. Also, automating tasks like driving would eliminate on-road fatalities completely.

Some of the common warehouse site risks include cracks in the floor, scattered materials, spills, and stray cords. They can cause slips, trips, and falls that may severely injure a human, but for a robot or automated component, there may be just some reparable or replaceable damage. Fewer injuries also mean fewer claims for the engineering company. Especially in hazardous conditions, automation leads to better worker safety and consequently, higher productivity.

Cost of implementing WMS solutions:

Deployment of WMS solutions is a costly affair. A business has the choice to implement it as a stand-alone software or a cloud-based software as a service (SaaS) model. Stand-alone, one premises deployment of the software cost ranges from $2,400-$12,000, while cloud-based deployment of the solution costs from $1,100-$7,700. If the solution needs to be deployed at multiple sites, the cost may go up as high as $75,000 to $100,000. However since a solution is as good as the skill of the users, the businesses should also consider the cost of training its staff on such advanced systems which can range from $2,000-$5,000.   


The Final Word

Engineering firms have a huge scope of automating their warehouse systems and processes.  Although, there is a one-time investment involved in having a warehouse automation system, its benefits outweigh its cost.

The Bajaj Finserv Engineer Loan is a collateral-free product for engineering professionals. These loans come with a high loan amount of upto Rs.2 crores and help engineers to make their practice sustainable in ways such as installing a warehouse automation system, maintaining working capital, expanding capacity, etc.

4 Times Your Medical Business Needs Financing

For providing the best medical care, one of the prime requisites is to choose the right mode of finance. Like any other venture, medical practices too need finance to ensure smooth operations and to take the venture to the next level. Here are some signs that show your practice needs capital.

  1. Woes Related to Cash Problems

According to a survey by Capital One Spark Business, cash flow is one among the two most pressing business issues grappling physicians in 2017. The other is reimbursement for patient treatment. The survey revealed 69% medical professionals citing cash flow as their biggest concern.

In a statement Capital One said, “The biggest expense physicians cited to keep their practice up and running was the cost of salaries and benefits for their support staff, highlighting the importance of the staff across a physician practice and the urgency facing these practices in managing cash flow and revenue.”

Choosing the right mode of finance is important for addressing such cash flow problems. For example, Flexi Loans offered by Bajaj Finserv offers a scalable and continuous source of funds. The borrower can withdraw funds as per his/her requirements and pays interest only on the availed funds. Furthermore, whenever the borrower has excess funds, he/she can pay off the debt in full or in parts. Such loans perfectly suit the dynamic and flexible cash needs of practices.


  1. Need for Expansion

According to parliamentary standing committee on health and family welfare, despite having the largest number of medical colleges in the world, with nearly 9.29 lakh doctors enrolled, India is lagging way behind WHO’s norms of targeted doctor to population ratio of 1:1000. The numbers state the wide gap in the demand and availability of quality medical care in the country. This however, is a huge opportunity for medical practitioners to venture into this huge and mostly untapped market.

When you expand your medical business, you need funds for:

  • Setup infrastructure
  • Buy new equipment
  • Hire people
  • Comply with regulations


  1. Improve Efficiency

While expansion is one part of your medical business, boosting efficiency and staying relevant require investments in specialised equipment and technology. Accessing hospital records system securely, connecting with patients anywhere, monitoring the care given 24X7, etc. play a significant part in enhancing efficiency.

The following statistics show us how investment in advanced systems like Electronic Health Records (EHRs) enhances efficiency manifold. According to a national survey of physicians:

  • 79% providers cite that use of an EHR helps them practice more efficiently
  • 82% report that e-prescribing saves time
  • 75% report receiving lab results faster

It significantly reduces the amount of time spent on paperwork and administrative tasks, thereby making operations lean.


  1. Spend on Training Staff

While new technology bolsters efficiency, your staff holds the key to utilise it to the fullest. Training staff to use new equipment, tackle emergencies, handle complex cases, etc. is vital to remain competitive and offer quality care.

On an average, doctors in India spend a little over 2 minutes to diagnosis a patient. Trained medical staff with the latest technology helps reduce the time spent on each patient and increase the diagnosis accuracy.

One of the most effective ways of staff training is through mobile virtual devices such as VR One, Gear VR, and Google Cardboard. According to Dr. Narendra Kini, CEO at Miami Children’s Hospital, “The level of understanding through VR is great because humans are primarily visual and VR is a visual format. We believe that there are numerous opportunities where repetitive training and skill set maintenance are critical for outcomes.”


We, at Bajaj Finserv, offer business loans for consultants and practicing doctors looking to expand operations or have a business need to provide better treatment facilities. We offer working capital loan up to Rs.30 lakh at a competitive interest rate. Talk to our loan experts today to know more.

Top 5 Accounting Software Packages in India

Top 5 Accounting Software Packages in India

With the roll out of GST, the government requires even small and medium enterprises (SMEs) to maintain financial transparency and uniformity. This makes them look to CAs to provide an efficient and robust accounting system and comply with GST laws. To maintain such an accounting system, having an accounting software becomes imperative.

A business accounting software helps in keeping an enterprise’s financial data organised, and prepares and presents accounts and financial statements as per issued standards. It is the computerised systematic measurement, verification, interpretation, summation and classification of financial data of a business.

The accounting software should be able to generate tax invoices and create and manage GST levied at different levels (CGST, SGST & IGST).

Here are 5 recommended accounting software packages, along with their pricing and features.

Tally.ERP 9

Considered the market leader in business accounting software, Tally helps firms prepare and manage journal(s), ledger(s), debit and credit notes, trial balance, profit and loss statement, balance sheet, cash flow and more for an organisation.


Silver (Single user edition for standalone PCs) – Rs.18,000 (online price)

Gold (Unlimited multi-user edition for multiple PCs on LAN environment) – Rs.54,000 (online price)


  • HR and Payroll management
  • Multiple company support
  • Financial management
  • Inventory management
  • Invoicing and billing
  • Taxation


ProfitBooks is a popular cloud accounting software that lets you create invoices, track expenses and manage inventory, helping you save time and manage your finances more efficiently. Being a cloud-based solution, information can be accessed remotely, thus ensuring mobility.


Professional Plan (Good for service-oriented businesses): Rs.5,999 per year

SMB Plan (Good for resellers and traders): Rs.8,999 per year

GST Company plan (Good for busy business owners who want to outsource): Rs.1,999 per month


  • GST invoicing with payment gateways integration
  • Expense management
  • Inventory management
  • Warehouse management
  • Multi-currency support

Zoho Books

Zoho Books is a user-friendly online accounting software designed for Small and Medium enterprises. Its key features include automatic bank feeds and payment notifications, online collaboration with customers, time tracking, inventory management, invoice tracking, reconciliation and automated workflows. It helps businesses manage all their accounting operations effectively on a single platform.


For One Organisation – Rs.2,499 per year

Zoho Finance Plus – Rs.2,999 per organisation per month / Rs.19,999 per organisation per year


  • Files GST returns
  • Creates estimates and invoices
  • Tracks bills and expenses
  • Connects to secure, automatic bank feeds
  • Creates projects and timesheets
  • Creates sales orders and purchase orders


BUSY is an integrated business accounting software for Micro, Small and Medium businesses. It helps businesses in multi-currency financial accounting, GST invoice and report generation, TDS and TCS compliance along with MIS reports and analysis.


Basic Edition (Micro & Small businesses) – Rs.6,400

Standard Edition (Small & Medium businesses) – Rs.12,000

Enterprise Edition (Small & Medium enterprises) – Rs.17,600


  • Inventory management (Multi-location)
  • Production and Bill of Material
  • Sales and Purchase Quotations
  • Sales and Purchase Order Processing
  • Fully user-configurable invoicing


QuickBooks is an online accounting software with an easy-to-use interface and tools. It offers more than 40 reports including profit & loss account, balance sheet and cash flow statement. It helps manage day-to-day transactions, billing, invoicing, inventory and budgeting. It comes with mobile support for iOS and Android users.

Pricing: Rs.4,999 per year


  • Creates and sends professional GST invoices
  • Generates GSTR1 and GSTR2 reports
  • Designs and create quotations
  • Tracks sales, invoices, supplier bills and payments
  • Tracks cash flows with P&L and Balance Sheet
  • Imports transactions automatically with online banking

A good accounting software can provide insights on your business and its financial health, helping you take well-informed decisions. With GST requiring regular filings, every business needs to maintain proper accounts of their sales and purchases. Efficient and streamlined accounting functions, enabled with the right accounting software would aid in thorough compliance with the GST laws.

The Bajaj Finserv Chartered Accountant Loan is a loan for practicing Chartered Accountants and consultants. You can avail a Flexi Loan account, an industry-first facility under which you are allotted a credit limit, which you can use as per your need. A Flexi Loan saves you upto 45.3% of the amount that you repay in Term Loans. A Flexi Loan helps you expand your working capital and your firm’s client base. Expenses and costs like hiring contractual or specialized personnel and training existing ones, paying rent and subscription fees and all other unforeseen expenses can be taken care of with a Flexi Loan.

How Engineering Firms Can Mitigate Cyber Security Threats

Cybercrime is on a rampant high, and firms should also factor in the need for a robust enterprise-oriented anti-virus software and firewall solution. A report by International Data Corporation predicts that businesses are expected to spend $101.6 billion on cyber-security software solutions by 2020. 

The Wannacry ransomware attack affected more than 3 lakh computers in the span of a month. A more sophisticated attack followed in Petya, taking root in Ukraine and Russia, and spread to businesses in the United States and Europe. It even stalled operations at the Jawaharlal Nehru Port Trust in Mumbai.

According to the statistics from multinational cybersecurity and anti-virus provider Kaspersky Lab, even a single targeted cyber-attack can cost an enterprise more than USD 2.5 million compared to a starting point of USD 80,000 for an average small to medium business.

As organisations embrace technology and automation, cyber security no longer remains a priority but a foremost imperative. For engineering industries, prevention and mitigation of cyber threats are critical to their survival and growth.

Where Do The Threats Lie?

With more and more devices are being connected to each other. The data being produced/generated by these devices is humungous. This data is at an increased risk of being compromised and is prone to cyber-security threats.

Engineering professionals have previously been mostly ignored by cyber attackers. However, as engineering firms have a greater online presence and as technological integration of the occupant and the environment gains momentum, cyber attackers are now targeting buildings.

Thus, engineering firms can no longer be complacent and indifferent towards cyber threats.

The attacks generally fall into two categories – malicious viruses (introduced to the network internally) or external intrusions. The risks of a system breach include:

  • Reputational damage and loss of customers
  • Loss of intellectual property
  • Business interruption
  • Being held to ransom to remove external encryption from data
  • Malicious alteration of designs or survey findings
  • Financial fraud and defamation

What Can Be Done?

Engineering companies can minimize their vulnerability to cyber security threats with the help of thorough preventive measures.

  1. Data Assessment

Firms should:

  • Evaluate what data it collects and maintains, and where it is stored
  • Identify the potential risks that need to be addressed and protections to be instituted

Once the scope of data and the magnitude of risk are understood, they should seek assistance from an information security expert.


  1. Information Access

Business data can get compromised through phishing. .

A firm should carefully document who has access to its systems, and administrative and security rights. It should regularly track active and inactive users, and implement a system to terminate access when needed.

  1. Encryption

According to the 2017 Global Encryption Trends study, 41% of companies have now a consistent enterprise-wide encryption strategy.

Examining how robust and reliable data encryption is goes a long way in preventing falling prey to cyber attacks. Encrypted data is less enticing to an attacker, as the data’s value is lost if one is unable to decode or read it.

  1. Vendor Management

A recent study found that 63% of data breaches were linked to third-party vendors. The vendors were responsible for system development, support, and maintenance. It’s important for engineering firms to review their agreements with vendors and contractually mandate them to comply with specified data security standards.

  1. Cyber Insurance

According to a recent report issued by PwC, the global cyber insurance market could grow to USD 5 billion in annual premiums by 2018, and at least USD 7.5 billion by the end of the decade.

Different insurance companies offer policies that cover cyber incidents with different covers, inclusions and exclusions. Engineering firms must seek assistance from a broker who understands their business’ needs, data sensitivity and the degree of risk involved, and thereby, recommend a suitable cyber insurance cover.

  1. Team

A report from Frost & Sullivan and (ISC) found that the global cybersecurity workforce will have more than 1.5 million unfilled positions by 2020. This doesn’t augur well for businesses.

Firms must have a designated breach response team comprising both internal members and external specialists. Also, having a forensic investigation firm under contract, which can immediately deploy its resources to respond well in time and prevent aggravated outcomes, is a good idea.

Cost of Cyber-Security Measures:

For engineering firms, implementation of cyber security is a multi-stage and costly process involving a wide range of steps.  The cost of implementing such measures, does not depend on the software installation alone but on a variety of factors. For example, the first step of implementing cyber security audit involves an initial security audit with an average cost of $10,000. This price increases with the complexity of setup. The deployment of technology solutions costs from $5,000 to $7,000 to address various system vulnerabilities in the business. Once the security infrastructure is in place, the running cost of the same may range from $3,000 to $4,000 per year.

Bajaj Finserv Engineer Loans are collateral-free business loan for engineers and engineering firms. You can avail this loan for procurement and implementation of a cyber-security solution that suits your enterprise. Being well-financed can also help your company survive substantial financial losses that may be triggered by a targeted attack.

How Mobile Medical Care Facility Boosts Profitability

Mobile Health, also referred to as mHealth, is a rapidly growing domain in India and all over the globe. Understood as practice and delivery of healthcare services and information through a mobile device, mHealth is a popular trend today among health professionals and the people at large.

A recent global study conducted for PwC Global Healthcare by the Economist Intelligence Unit (EIU), finds that more than half of doctors and consumers around the world, including 60% in India sees the widespread adoptation of mobile technology in health care as inevitable.

“The adoption of mobile health in emerging markets like India versus developed markets is a paradox.  In developed markets, mHealth is perceived as disrupting the status quo, whereas in emerging countries it is seen as creating a new market, full of opportunities and growth potential” says Dr. Rana Mehta, Healthcare Leader, PwC India.

The study report also includes findings of two surveys conducted by the EIU, one for consumers and one for doctors:

  • In 59 percent of all emerging markets, patients use at least one mHealth application or service
  • Nearly half of the consumers expect that mHealth will change the way they manage chronic conditions, their medication, and their overall health
  • 6 in 10 consumers expect mHealth to change the way they seek information on health issues
  • Nearly two-thirds of doctors said that mHealth offers exciting possibilities

Mobile Medical Care and the Consumer

A study suggests that 70 percent of the people worldwide are interested in having access to at least one mHealth application, and they are willing to pay for it.

Mobile health gives patients direct control of their diagnosis and treatment. They provide early warnings and key information about an illness, thus empowering patients to choose between immediate visits or waiting for appointments.

Consumer electronics companies are already cashing in on the growing demand for devices and services that help people remain fit and mentally alert. Cardiac monitoring and fitness tracking are also the most prominent applications of mobile-enabled connected devices.

The popularity of mHealth is rapidly expanding among consumers. Common aspects of mHealth from a consumer’s perspective include,

✓ Locating healthcare service providers

✓ Comparing prescription fees and treatment costs

✓ Enhancing health and wellness efforts

✓ Seeking information on medical conditions or terms

Mobile Medical Care and the Physician

Mobile health apps are also being widely used by doctors in their daily practice. Mobile care offerings help doctors diagnose, monitor, consult, and treat common diseases. As mHealth enables doctors to look up information from the patient’s bedside, it saves time and helps them provide optimum treatment.

Also, with apps readily available on smartphones and tablets, doctors can avail advantage of flexible access to medical information. They can easily access quality resources and take important decisions on the clinical care of a patient.

UpToDate is one such app that provides common questions that physicians generally ask when they see a patient. It also provides recommendations with regard to the course of treatment.

Doctors, healthcare professionals, hospitals and diagnostic centers can exploit the growing prevalence of mobile medical care among people, and enhance their reach and repute.

Mobile Medical Care in India

Call Ambulance is a one-stop mobile app for all kinds of medical emergencies. When a person seeks an ambulance using the app, his or her location is shared with the nearest hospital via GPS technology. Ambulance drivers are able to navigate to the location easily. The app will also notify the nearest first responder, who will come for first aid before the ambulance arrives.

It notifies the patient’s family, ambulance manager, alerts ambulance driver and eventually the doctor on duty at the destination hospital. The doctor can see the stored medical history and be ready to treat the incoming patient. The app is therefore, a life-saving one-tap-away solution for all emergency situations.

Wockhardt Foundation’s Mobile1000 initiative envisions to provide 1000 mobile health Vans, in aid of free primary healthcare to 25 million people in rural India. 84 Mobile1000 vans are operating across the country, providing help to 25,000 patients per year per van. Mobile1000 has helped over 170 lakh patients with free medicines.

Helpage India’s main aim is to make basic healthcare available to 1 million under-served rural and urban people, particularly the elderly. Currently, they are reaching out to 1383 community locations and plan to reach out to communities from 2000 site locations by 2020. The Mobi-Health Unit (MHU) involves a four-wheeler with customised fabrication done to carry medicines, consumables and equipment.

The mHealth services market in India is expected to be worth USD 435 million by 2019. With mHealth steadily growing as a technology-oriented consumer-focused dimension in healthcare, it is a profitable avenue for doctors, hospitals and medical professionals to invest in.

We, at Bajaj Finserv, offer Business Loan for Doctors, to help them in expanding their scale of operations. With 1-day approval and disbursal, you can avail this loan to provide mobile medical care facilities to people, aid them with real-time communication and speedy treatment and thus, add value to your brand. Get in touch with us to know more.

How to Expand Your CA Firm This 2018

How to Expand Your CA Firm This 2018

As a Chartered Accountant, you are concerned as to how to expand your firm and its scale of services. It may be difficult as you cannot advertise your firm and obtain clients. You can’t form a company and have to limit your entity to a partnership firm or LLP. If you try getting business through referrals, it will involve huge referral commissions and affect profitability.

Such challenges hinder your practice’s growth. Here, we address such difficulties to help you expand your reach to cater to a wider client base.


  1. Cash on the GST market

The newly effective indirect taxation system has increased the number of tax-paying businesses as unorganised businesses now fall under the ambit of taxation. With tax rate labs being constantly revised, clients look to CAs for financial advice, compliances and reporting. Therefore, every CA firm can build and grow its indirect tax practice and provide GST consultancy services to existing and potential clients.


  1. Update Yourself With the Latest Technology

Keeping oneself updated not only warrants knowledge on the latest developments in the world of finance and audit, but also technology. According to a survey conducted by online accounting software company-Xero on 1000 UK accountants in 2016, 83% believed that understanding technology will be equally relevant as traditional accounting skills for future CAs. 22% of the respondents believed that failure to adapt to new technology will result in falling behind competition. 

Technologies like cloud accounting software help you:

  • Serve clients across different locations
  • Increase monthly cash flow by offering accounting services remotely
  • Reduce travel expenses of visiting client’s location to gather accounts


  1. Hire Quality and Specialised Staff

For any organisation, the quality of its workforce determines its success. To deliver outstanding client service, it’s important for you to hire quality people in your firm. If a project warrants specialised professionals in tech, do that. This will help you meet tight deadlines with ease.

Knowledge on the latest technology, quality hiring, and subsequent expansion require finances. Consider an external source of finance if you’ve parked your savings for the stock market.


  1. Add Partners

New partners bring in potential clients, expertise in new areas (thereby help your firm diversify its offerings) and a fresh outlook. This is a quick-fix business development solution. Prepare a revenue sharing model, basis your firm’s experience and the quantum/nature of work, while you add new members to the firm

  • If your CA firm is new, you might not be able to pay remuneration to the new partner. Therefore, your revenue sharing agreement should be based on profit-sharing. It should clearly define the revenue of each partner, for the business they bring to the firm. This also keeps partners motivated to take the firm to the next level.
  • If your firm is old and has a retained client base to cater to, the revenue-sharing agreement can be a mix of fixed income and profits.


  1. Network

CAs need to interact with a lot of people and engage in multiple meetings to seek business. A significant amount of time is wasted in these meetings. As a CA, you must connect with more professionals in your and other domains to strengthen your network so that others may refer your services. This will cut down the time spent on meeting clients.

According to a new LinkedIn global survey result, almost 80% of professionals consider professional networking to be important to career success. In today’s digital age, leverage the power of social media to boost your professional networking.

Your networking will come in handy when you plan to expand to a new city with space, infrastructure, and regulatory norms.


Bajaj Finserv offers collateral-free Chartered Accountant Loans of upto Rs.35 lakh that are meant to aid professionals like you in expanding your firm this new year. Be it catering to a bigger clientele by offering GST consultancy, integrating the latest tech into your practice or hiring the right talent for your firm, you can use these loans as per your requirement and boost your ROI. Get in touch with us today to know more.

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