How Motor Vehicle Record Background Check can assist your organization on a safe journey?

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How Motor Vehicle Record Background Check can assist your organization on a safe journey?

Is it necessary for your staff to utilize vehicles in order to do their jobs?

If you answered yes, you must make sure that anyone driving on your behalf has a clean driving record. To do so, you must conduct annual motor vehicle record (MVR) checks on all of your drivers. 

Unsuitable drivers can be removed from your payroll, saving you time, stress, and money.

But what is a motor vehicle record? 

Let’s Find Out. 

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What Is Motor Vehicle Record Driving Record?

An MVR, or motor vehicle record check, is a record of a person’s driving history. Simply told, it refers to the pertinent information regarding a person’s driving history, such as license class, endorsements, restrictions, standing, suspensions, and expirations. 

 

Furthermore, while driving, a motor vehicle record includes tickets, traffic offences, and criminal convictions. Let us explore why an MVR is important for a company. 

Why Are Motor Vehicle Record Checks Important?

Wondering how a motor vehicle record check can benefit your company and those others on the road?

Here are a few reasons to convince you: 

Brand protection

When it comes to brand reputation management, you must always be alert. Swift and preventive capabilities are critical for protecting your company’s hard-won brand reputation and image. 


Your management team can stay one step ahead of any potential damage to your brand image by doing periodic motor vehicle record checks. 

Safety

Above and beyond the other advantages, you have the option of removing a potentially dangerous driver from the road—temporarily or permanently. So, why not use an MVR check to make the roads (and, as a result, the people) safer? 

MVRs provide details on a person’s driving behavior and how they will drive on your behalf. Certain employers think that a person’s personal driving habits have no influence on how they drive a work car. 

Others, on the other hand, believe that if a driver engages in unsafe behavior in their own vehicle, they will do so in the business vehicle as well. Increased traffic violations, avoidable accidents, insurance expenses, and other personal problems may result as a result of this. 

However, you must consider if a person would be more cautious if driving a business vehicle. Or would they be able to flip between several different driving styles and attitudes? We believe it makes perfect sense in this situation. When judging a driver’s record, you must exercise extreme caution. 

What do employers stand to gain with an MVR check?

Employers often use an MVR background check to establish how qualified and responsible an applicant is for a job that requires a lot of driving. Employers hire employees to drive for their firm or organization when they fill a driving role. As a result, the employer will have some responsibility for the driver’s actions behind the wheel. 

 

Hiring a driver with a history of license suspensions or a long list of traffic violations, or whose license does not fit the position’s criteria, is a legal, financial, and public image risk for a company. Employers will look for warning signs that indicate a candidate should not be trusted with a company car or the responsibility of representing their brand on the road. 

 

Is your driver’s license valid, or has it expired, been suspended, or been revoked? Is the driver qualified for the job if it requires a commercial driver’s license or a higher level of licensing class or endorsement? Has the motorist been in a high number of accidents or received a high number of speeding tickets? Has the driver ever been convicted of driving while intoxicated or other offences behind the wheel? 

 

These and other issues can be answered by an MVR check, which gives an employer a complete picture of the candidate and how responsible he or she is as a driver. 

How to conduct an MVR check:

Working with a reputable background check business is the best approach to obtain a candidate’s motor vehicle record. Background screening companies not only know which databases to examine at the Department of Motor Vehicles, but they also comprehend the particular “language” of driving record reports. 

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How to Use Survey Incentives to your Benefit

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How to Use Survey Incentives to your Benefit

Offers or gifts are given to survey participants as survey incentives. These promotional items encourage people to fill out surveys and give honest feedback to businesses. 

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Incentives for surveys come in a variety of shapes and sizes. Some businesses employ monetary incentives, while others advertise free product trials. Your rewards should be unique and reflect the effort that participants will put into your questions, depending on the survey and information you’re attempting to acquire.

 

A few of the most basic questions when it comes to offering incentives for your survey are: Are incentives needed? 

How to determine if incentives are needed? And, if you want to employ survey incentives the right way, what are the best ways to do so? 

Let us explore some common methods which you can employ when offering incentives for your survey.

Determine if your survey needs an incentive

Avoiding an incentive is the greatest method to ensure that your data is unbiased. There is no need for an incentive if your survey has a high response rate and clients are eager to fill it out. NPS® surveys, for example, rarely require an incentive. These are one-question forms that may be completed in a matter of seconds. Including an offer here is pointless because it will not result in a significant increase in responses. 


Choose a survey that you know your clients will be hesitant to fill instead. These could be product reviews, usability tests, or any other activity that needs the participant to devote a significant amount of time. If your participants are coming to your office for a focus group or a testimonial, this is a great time to lure them with an incentive. The aim is to express gratitude to customers for taking the time to provide insightful feedback to your company. 

Select the type of survey incentive

 It’s critical to think about your target audience and select an incentive option that corresponds to their individual demands and interests. Here are a few options for you to consider: 

Monetary Incentives

Monetary incentives are offers that are based on money. Customers may redeem these discounts, coupons, and giveaways at your business. Alternatively, you can team up with another company to offer discounts on each other’s items, thereby broadening your reach and pooling prospective leads.

Non-Monetary Incentives

Non-monetary rewards are usually more distinctive than monetary rewards. This is because these offers are tailored to the needs and objectives of the participants. They assist respondents in completing activities that they were unable to complete prior to finishing the survey. 

Estimate the value of the incentive being offered

When implementing survey incentives, this is likely the most crucial stage. You must ensure that your offer is worth the time and effort that participants put into your surveys. People will be uninterested if it is too little. If it is overly valuable, you might lose money in the long run. 


A few variables must be considered when looking for a suitable reward. First, consider your budget and what you can afford to offer. Next, consider the size of your target audience and what you could offer if everyone took part in your survey. Finally, think about how you’ll provide your reward and whether you’ll need additional funds. 

Decide on an effective delivery channel

After you’ve decided what you’ll offer, think about how you’ll deliver it to your participants. This is mostly determined by the medium in which your survey is conducted. 

 

If your survey is sent via email, for example, your incentive should also be digital. It would be strange to mail a coupon or discount when you’ve just sent the customer an email, unless you’re offering a significant incentive. 

In-person rewards work the same way. If you are asking participants to come to your offices, don’t have them leave empty-handed. It’s an unsatisfying experience to arrive expecting a present only to be told that it will arrive three days later in the mail.

Pick a suitable time to offer the survey incentive

The final stage is to choose the time of what you’ll offer and how it’ll be delivered once you’ve decided what you’ll offer and how it’ll be delivered. The timing of your offer can have a significant impact on how your customers respond to your survey. You have two possibilities for disseminating your offer, as shown below.

Prepaid Incentives

Prepaid incentives can be monetary or non-monetary, and time is what sets this type of offer apart. Participants are provided pre-paid incentives before the survey is completed. This is done with the hope that the respondent would finish your survey completely and without skipping any questions.

Promissory Incentives

Promissory incentives are the polar opposite of prepaid incentives. They’re introduced at the start of the survey, but they’re only given out at the end. This encourages participants to finish longer, more boring, or repetitive forms.

How can MIMO help?

MIMO offers premier Data Collection solutions that are both qualitative and quantitative. Our Survey and Data experts coupled with our tech-enabled platform have ensured successful survey data collection across various geographies within specified timelines. We assist our clients in gaining access to their target respondents and collecting the required data in a simple and efficient manner. 

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8 Pros and Cons of Using Survey Incentives

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8 Pros and Cons of Using Survey Incentives

One of the biggest challenges researchers face when conducting a survey is getting responses. 

You can create a fantastic survey, ask all the correct questions, and send it out at the perfect moment, yet their audience still does not respond.

 

To increase their likelihood of acquiring survey participants, many survey takers now provide “survey incentives,” which are rewards for participation.

 

While survey incentives might increase response rates, they can sometimes have unintended repercussions. So, let’s look at the benefits and drawbacks of implementing survey incentives. 

According to statistics, the typical response rate for surveys is only 10-30%.

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To increase their likelihood of acquiring survey participants, many survey takers now provide “survey incentives,” which are rewards for participation.

 

While survey incentives might increase response rates, they can sometimes have unintended repercussions. So, let’s look at the benefits and drawbacks of implementing survey incentives. 

How To acquire survey participants

What Is a Survey Incentive?

Most people who respond to surveys want to be helpful, have an interest in the subject, or want their voice to be heard. Others require an incentive.


A survey incentive is a form of award or reward, usually monetary, given for completing a survey. Some surveys award points, which can be redeemed for cash or a gift card after a certain number of points have been acquired. 

4 Benefits of Using Survey Incentives

When done right, online survey rewards can be quite effective. Here are five ways survey incentives can help survey research.

Do incentives increase the number of people who respond to Surveys

Boosting Response Rates

Do incentives increase the number of people who respond to surveys?


They certainly can! The most significant benefit of introducing incentives for survey participation is that respondents are more likely to complete the survey.

Monetary incentives have long been used to boost response rates.


In fact, one study discovered that providing a monetary incentive more than doubled the likelihood of participants returning a finished or partially completed questionnaire. 

4 Drawbacks of Survey Incentives

Targeting Hard-to-Reach People

Some researchers exclusively give incentives to specific audiences – people who are unlikely to reply to any survey.

For example, researchers surveying professionals in the healthcare business may offer an incentive to encourage participation since they understand how difficult it is to attract the attention of a busy surgeon, doctor, or nurse. 

Encouraging Participation in Lengthy Surveys

Do incentives increase the number of people who respond to surveys?


They certainly can! The most significant benefit of introducing incentives for survey participation is that respondents are more likely to complete the survey.

Monetary incentives have long been used to boost response rates.


In fact, one study discovered that providing a monetary incentive more than doubled the likelihood of participants returning a finished or partially completed questionnaire. 

Building Goodwill

Do incentives increase the number of people who respond to surveys?

 

They certainly can! The most significant benefit of introducing incentives for survey participation is that respondents are more likely to complete the survey.

Monetary incentives have long been used to boost response rates.

 

In fact, one study discovered that providing a monetary incentive more than doubled the likelihood of participants returning a finished or partially completed questionnaire. 

4 Drawbacks of Survey Incentives

Attracting Reward-Seekers

Customer survey incentives may attract the incorrect person—someone who is only interested in the reward.

Because their primary purpose is monetary gain, this type of respondent may rush through the survey to claim their prize or submit incorrect information.

This can cause your results to be skewed and cost you time and money. 

Introduces Bias in Surveys

Survey incentives may inadvertently add bias to your results.


Assume you provide a discount to restaurant guests who complete your exit survey with the best of intentions. Those who felt they received poor service and/or food are unlikely to return to your establishment and, as a result, are uninterested in a future discount. As a result, they will not complete the survey, and you will miss out on negative input that could help you improve the business.


Instead, you’ll only get great feedback from customers who want to return. While it is good to receive positive feedback, it is not always beneficial to the business. 

Budget Constraints

You may not have a lot of money to play with when it comes to financial incentives, depending on your budget.


Financial incentives can be difficult to come by, especially if you’re running a large survey with thousands of participants. 

Disappointing Respondents

Do you conduct surveys on a regular basis? Some businesses prefer to conduct quarterly or bi-annual surveys of their customers or participants.

 

If you provide a reward the first few times you send out a survey, it may become the norm.

 

When you reduce the incentive due to budget limits and send your next survey, participants who are accustomed to receiving a survey reward may not be interested.

 

By providing incentives and then removing them, you risk causing long-term damage to response rates. 

MIMO offers premier Data Collection solutions that are both qualitative and quantitative. Our Survey and Data experts coupled with our tech-enabled platform have ensured successful survey data collection across various geographies within specified timelines. 

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Why Effective Background Checks for Small Businesses are necessary

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Why Effective Background Checks for Small Businesses are necessary

It is a known fact that small businesses don’t employ as frequently as major corporations. When hiring, each new hire must be a good fit and when you bring a new member of your team on board, you should do so with an adequate amount of informationYou’ve worked hard to create your company and make a reputation for yourself. Hiring the incorrect individual might completely demolish all you’ve built. Fortunately, you have the option to do background checks on anyone you are thinking about hiring.  

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So, how can small businesses ensure that they employ the best and most cost-effective background checks?

Create a Background Screening Policy

Creating a standard by which to perform background checks is one of the simplest methods to save money on background checks. Background checks for small business should include: 

Working with a Professional Background Check Partner:

Because small businesses do not recruit as frequently as major corporations, it is critical to collaborate with a skilled background screening provider that will be a valuable partner. Here are some other requirements for a reliable background screening partner: 

Because every business’s needs are unique, it’s critical to choose a background check provider that’s right for you. Make a list of various background check choices and then select which one is ideal for your company. You can begin with the following checks:

Now, let us look at some of the reasons that make background checks for small businesses necessary:

Saves time and money

Hiring the incorrect employee as a small business owner can result in not just wasted compensation costs, but also time spent searching for and interviewing fresh prospects. 

 

Most small firms do not have the resources to go through lengthy litigation proceedings as a result of careless hiring, according to research. By properly conducting background check services, you can protect yourself from the unforeseen costs that can arise from non-compliance with legal rules pertaining to background checks.

A fair scrutinization of facts in the resume

As a small business, you want to hire someone who is trustworthy and who will fit in with your team. However, because people frequently lie on their resumes, it is difficult to determine whether the candidate is trustworthy. By conducting a background check, you can completely evaluate all of the information offered by the candidate in the resume, allowing you to make an informed decision. 


Only make a hiring decision after completing a thorough background check on the prospect. This will avoid the embarrassment of hiring the wrong person for your company and will also give you a good sense of whether the candidate is a good fit for your small business or not. 

Keeps your workplace safe and secured for existing employees

It is critical to guarantee that the workplace is a safe and secure place to work when working in a small business’s closely knit work environment. Workplace violence can have a negative impact on the entire working environment in small organizations. 

 

This emphasizes the need of hiring a professional background check service that can assist you in selecting the correct applicant by doing a criminal background check and an identity check to maintain your workplace safe and secure for current employees. 

Keep up with the legal compliance:

Because small firms do not hire as regularly as large enterprises, they may not be up to date on the current background check regulations. However, not knowing the laws can land your business in hot water while doing the checks. As a result, it is critical to seek the assistance of background check professionals to: 

How can MIMO help?

A professional background check service will provide you with appropriate guidance in selecting the diverse types of checks for the selection of a certain role. 

 

With the latest technology in operation, MIMO’s background screening services can be used to perform verification quickly and easily by small businesses. Businesses need to send a request to MIMO for a background check and they can receive all relevant records without delay. This will help you save a lot of time, which you can then utilize for more productive tasks. 

 

Working with a reputable background check firm will save you time and money while also ensuring that you remain compliant in the customer screening process. 

 

Here at MIMO, we are aware of the high levels of transparency, complex legislation, and laws that the financial sector and other industries must adhere to and comply with. MIMO offers all-inclusive background check services with a focus on protection to provide you with the most reliable and up-to-date details. 

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How last mile route optimization tech can facilitate efficient Supply chain operations

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How last mile route optimization tech can facilitate efficient Supply chain operations

In the logistics and supply chain industry, last-mile delivery is the primary driver of customer satisfaction. It has a direct impact on profitability because it is the most time-consuming, costly, and unpredictable aspect of the entire process. Tight delivery timetables, fluctuating fuel costs, and little control over delivery teams make last-mile delivery difficult to manage. 

 

It is not easy to perform last-mile deliveries seamlessly, but technology can assist you in overcoming the associated problems and meeting consumer expectations on delivery dates. 

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Last Mile route optimization improves the effectiveness of your supply chain while also providing a positive client experience. It can assist you in the following ways:

Cost Reduction

Using AI-powered sophisticated, route optimization solutions allow you to plan, schedule, and re-route your trips more efficiently. Planning your delivery schedule ahead of time allows you to reduce travel time and fuel expenditures from one customer address to the next. Dynamic re-routing enables you to maximize time slots, prioritize deliveries, and communicate route changes to drivers in real time. 

Enhances Efficiency

Reduce operational costs by lowering fuel expenditures and monitoring driver performance with a route optimization system tailored to your needs. Using multi-stop route planning saves you time that would otherwise be spent manually plotting routes and calculating fuel prices. The software selects the shortest and fastest routes, allowing you to deliver more in less time while also optimizing fuel use and lowering your carbon footprint. 

Ensures Transparency

Last mile route optimization software includes real-time tracking and digital delivery receipts. Customers can choose their preferred delivery times and alternate delivery locations. They can be kept up to date on package status and delivery times. You can keep track of each item and avoid fraudulent activity with real-time driver surveillance. 

Easy rerouting and rescheduling

Route planning and scheduling are critical for any logistics company. You may be required to reroute delivery orders due to unusual circumstances such as traffic, road conditions, rapid weather change, address discrepancy, and emergency deliveries. Route optimization software will aid in faster rescheduling and faster communication with drivers in order to keep delivery rates within time constraints. 

Easy rerouting and rescheduling

Route planning and scheduling are critical for any logistics company. You may be required to reroute delivery orders due to unusual circumstances such as traffic, road conditions, rapid weather change, address discrepancy, and emergency deliveries. Route optimization software will aid in faster rescheduling and faster communication with drivers in order to keep delivery rates within time constraints. 

Using Last mile route optimization/planning solutions and approaches, leading logistics organizations are successfully planning their transportation routes and timetables to satisfy the growing degree of client expectations. Route optimization software optimizes route planning for a variety of purposes, including pickup planning, route identification, cargo arrival time estimation, and scheduled deliveries. 

Distribution networks in India are complicated webs containing components such as retail networks, wholesale networks, and logistic infrastructure. Logistics is the lifeline of the Indian economy, and it is undergoing rapid transformation. However, because of their complexity, logistics networks are sometimes fraught with uncertainty.

Few challenges faced by last mile logistics and delivery businesses are:

Delivery delays

Late delivery degrade the customer experience and result in revenue loss. A minute delay in timeframes might cause consumer displeasure and necessitate rescheduling for your company. Managing disgruntled consumers and re-planning delivery would consume a large amount of your company’s time, resources, and capital.

How last mile route optimization tech can facilitate efficient Supply chain operations

Managing delivery density

Managing delivery workloads becomes more difficult when order numbers fluctuate. While logistics companies deal with the flood of deliveries during holiday or discount seasons, they must also concentrate on producing revenue during periods of infrequent ordering. Regardless of supply chain obstacles, customers want items to be delivered on time and to their liking. 

How last mile route optimization tech can facilitate efficient Supply chain operations

Optimizing last-mile delivery costs

Last-mile delivery has become expensive for logistics companies due to rapidly expanding competition and changing client expectations. According to a Capgemini research report, last mile services account for 41% of supply chain expenditures. To keep up with the competition, offering competitive delivery rates or altogether waiving them is becoming the new norm. Customers desire speedier deliveries, which raises costs and makes maintaining profitability more difficult. 

Key Takeaway

Route optimization technology is a delivery innovation that empowers supply chain enterprises that provide last mile delivery. It provides end-to-end transparency throughout the delivery process, including return management. Using technology to streamline your last mile operations and scale your organization by automating route planning and delivery management processes while providing excellent customer service. 

How can MIMO help?

Last mile delivery optimization can help you make faster deliveries. So, are you ready to improve the efficiency of your last mile distribution network? MIMO can assist your company in going online by providing the best last mile services in the region. 

 

The ability to effectively manage the transportation delivery process is becoming increasingly necessary in today’s world. MIMO Technologies provides a technologically advanced platform for efficiently transporting goods and items and achieving high levels of accuracy in last mile delivery. 

 

Our field officers are trained to complete time-sensitive work and deliver it to your customer in India’s most remote locations within agreed-upon deadlines. Over 14000 field officers work in a variety of rural and semi-urban settings. 

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How COVID-19 has accelerated Digitization in Banking

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How COVID-19 has accelerated Digitization in Banking

Amidst the current pandemic, customers’ expectations of banking have risen dramatically as banks push toward digitization. The need for fresh tactics centered on innovation and digital banking was evident in the banking industry even before the epidemic. Customers’ expectations of banking have risen as technology has advanced, thanks in part to the rapid and personalized services provided by major technology corporations. 

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So, what effect has COVID-19 had on this agenda?

The most visible change has been the shift to essentially online-only models. It has been an extraordinary transition as banks have migrated practically all of their client interactions to digital. 

 

If lockdowns continue, we may see further embedding of behaviors, but banks are currently in a conundrum. They are preparing for a digital future, and the epidemic has provided an opportunity to show what is possible. Customers, however, have not embarked on a more permanent change and require additional convincing to make digital adoption the norm. 

How quickly can banks adapt?

The rate of change is critical. Monitoring what your clients are saying or watching them become dissatisfied with a certain process is pointless if you can’t modify it immediately. Bank teams should ensure real-time engagement with their risk and compliance teams, as well as the implementation of measures to reduce conduct and compliance risk. 

 

The ability to detect and swiftly smooth over any bumps will be critical to improving the consumer experience and avoiding reputational damage. Banks can further improve their web channels by customizing them with self-selection navigation, customized online banking communication, and rich FAQ material and features. All of this benefits the customers and should reduce the need for more call center personnel. 

 

Open banking APIs (Application Programming Interfaces) powered by advanced analytics and advanced AI can provide richer real time personalization than customers receive today, and many FinTechs can provide powerful accelerators. 

Data: At the heart of digitization

It should come as no surprise that banks with stronger digital capabilities will gain more than counterparts who may struggle to deal with banking during the lockdown. Customers are being compelled to use digital channels and may view banks negatively if their systems are slow, difficult, or overly complicated. 

 

Banks must ensure that consumers who use remote channels have a favorable experience during and after the crisis. 

Banks, regardless of their digital competence, should be using the last several months to absorb the data coming in from their digital channels. We are aware that several banks have been challenged by an increase in client inquiries, which has resulted in customers being unable to reach their bank. 

 

Customer intelligence, such as call center demand statistics, should be fed into bank plans to help them improve response times and serve customers better. To increase contact center capacity, for example, use chatbots or re-deploy branch workers. 

 

Regardless of the increased use of technology, with branches generally inaccessible, keeping consumers connected is critical – and we have seen banks do just that, utilizing apps, emails, and website messages to talk directly to individuals. 

 

Even for the digitally savvy customer, many are discovering that digital services are incapable of meeting their very precise, complex, and time-sensitive requirements. Banks should use the crisis to find areas where the present customer journey may be altered in order to improve the experience both during and after the crisis. 

Four key areas for digital success:

Redefining the customer experience

entails putting the client and their needs first in order to provide long-lasting solutions. Banks should consider co-creating with clients frequently during the lifecycle of a proposition. 

Taking a mobile-first approach

Customers expect product and service accessibility via portable devices at any time, from contactless banking to account access. 

Creating a personalized data strategy

Building solutions requires understanding what data you have, what data you need, what questions to ask of that data, and how to evaluate the responses. It is critical to centralize existing datasets. 

Choosing the correct technological platforms

Choosing which platforms to use and how to use them is critical when incorporating new services into organizations that have substantial legacy procedures and assets and are subject to high levels of regulatory scrutiny, such as banking. 

COVID-19 has accelerated banking digitization as customer expectations shift during the epidemic. This prospective digital transition, as proposed by COVID-19, will also assist banks in dealing with the harder operating climate brought about by the epidemic. In the long run, it will be a critical step toward increasing profitability and returns in the sector. 

How can MIMO help?

The influence of digital transformation is obvious in today’s fast-paced, tech-focused world. Established organizations are being disrupted by ever-changing and growing technologies. As a result, to move forward, business owners must invest in transformation. 

 

However, for institutions that did not begin digitally, automating, and redesigning processes to improve operations is sometimes insufficient. They must also create effective consumer and employee experiences. This often necessitates firms transforming existing structures and procedures into digital processes via a robust plan devised with the assistance of digital transformation consultants. 

 

Is your business digitizing its information? Is your company being challenged by digital transformation considering that everything is now online? Are you interested in digital transformation? MIMO keeps up with these changes and has extensive experience in its successful implementation. We can assist you in digitizing, digitalizing, and ultimately digitally transform your company.

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How the National Automated Clearing House (NACH) mandate is simplifying financial transactions for one and all

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How the National Automated Clearing House (NACH) mandate is simplifying financial transactions for one and all

Online financial transfers have surpassed traditional payment methods in recent years. Large sums of money can now be easily transferred across borders using an internet banking service. With the advancement of internet banking and payment systems, the use of plastic money such as debit and credit cards has skyrocketed. E.g. People can apply for a personal loan online rather than visiting a physical branch, making it more accessible to the general population. 

 

Similarly, NACH was established to reinforce the many ECS systems that operate around the country. The National Automated Clearing House (NACH) is a clearing house system that was implemented by the National Payments Corporation of India (NPCI). NACH was created to automate and manage payments across numerous banks, as well as to manage repetitive or regular payments such as power bills, SIPs, insurance premiums, loans, and any other repeating payment. 

 

The National Automated Clearing House (NACH) is a centralized organization that was established to integrate numerous ECS systems across the country, to provide a foundation for standardization and norms, and to reduce local barriers/inhibitors.  

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Advantages of NACH

The NACH system is intended to have a national footprint and will cover all core banking-enabled bank branches across the country, regardless of location. NACH is a fast and efficient clearing platform that was designed to make payments easier and more cost-effective. 

How NACH works

Step 1

The corporate
(or money-collecting agency) collects the NACH mandate form from customers.

Step 2

The corporate verify the details provided by the customer in the mandate form.

Step 3

After verification of details, the corporate forwards the NACH mandate to its bank.

Step 4

The corporate’s
bank then shares the NACH mandate with the NPCI.

Step 5

Once the information is validated, the NPCI forwards the mandate to the customer’s bank for approval.

Step 6

Once approved by the customer’s bank, the corporate is authorized to collect funds from the customer’s account.

NACH is being adopted to assist anyone who makes substantial monthly payments. The NACH system benefited customers, banks, and organizations all equally. 

For Consumers

For Organizations

For Banks

As we can see, NACH Mandate offers several benefits for both customers and businesses. It also simplifies the organization and monitoring of every transaction by banks. NACH Mandate has become a significant component of the personal loan procedure because it enables timely payment of EMIs and other recurring payments. 

 

It protects parties who deal with huge numbers of transactions on a daily basis. Every small or large firm can benefit from NACH’s unified settlement system for the secure payment and collection of payments at regular intervals. The RBI governs the NACH system, making it a centralized institution for monitoring and managing all transactions in the country. 

How can MIMO help in this process?

The collection and verification of proper documentation are critical to the success of any company. MIMO can verify, compile, and deliver required documents to you, as well as ensure that they are obtained, managed, and supplied on time. 

 

MIMO has extensive experience in the finance industry, which includes institutions such as banks, microfinance institutions, and non-bank financial companies (NBFCs). 

Our services in this domain include:  

  • NACH Pickup 
  • Loan Application & Documentation 
  • Agreements 
  • Cheque Pickup 
  • Credit Card Application & Documentation 
  • Business Documents 
  • KYC Documents

For more info on NACH and other document collection services

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Role of employee background verification companies in pre-employment screening

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Role of employee background verification companies in pre-employment screening

Background verification, often known as a background check, is an in-depth inquiry into many areas of an employee’s background, such as job history, public (criminal) records, residence verification, and educational qualification. The best Background Verification Companies in India mostly provide pre-employment background checks in India for both large and small businesses. 

 

The most effective Background Check Companies in India serve as third-party agents for businesses and organizations. In India, they primarily conduct pre-employment background checks. Employers in India rely on the resumes supplied by prospective candidates. However, most resumes contain inconsistencies. According to a 2017 AuthBridge poll, one out of every six job seekers lie on their CV. 

 

 

According to an AuthBridge analysis, the number of candidates with false CVs has increased over the last three years. The extent to which bogus resumes are on the rise poses a significant threat to employers. The top verification businesses in the globe have the enormous task of assisting the company in making the right employment decisions. 

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This is why a pre-employment background check in India is such a vital requirement before hiring.

When recruiting, a corporation is constantly at risk because the employer is liable for the activities of the employees. The finest background check businesses in India conduct a complete background check on the candidates, reducing risk. 

 

Candidates having a criminal history will jeopardize the company’s reputation as well as workplace safety. This should act as a motivator for employers to contact the best background verification businesses in India. 

 

 An in-depth pre-employment screening can assist preserve the company’s brand from unfavorable publicity caused by scandalous workers. The top employee background verification companies in India assist employers in selecting the best candidates for the job. 

The top employee background verification companies in India must do thorough research into these key components of the candidate.

Public records:employee background verification

Public records:

such as criminal offences, can be retrieved through courts of law and law enforcement organizations. This will ensure worker safety if a thorough background check is performed. It is also critical that the values of the employee and the organization are compatible with one another.

Educational qualifications:

Educational qualifications:

To check that the applicant’s educational qualifications are authentic, the employer may contact the college/university from which the candidate graduated. The credentials listed on the applicant’s resume are scrutinized. Aside from the qualifications, the employer may also question about the applicant’s overall conduct. 

Work history:

The employer can call the applicant’s prior employer to learn more about his or her work ethic, job role, job performance, length of employment, and overall conduct. 

Address verification:

Address verification:

Most background check organizations deploy a team of investigators to the applicant’s physical location. They may also consult with the applicant’s neighbors to get vital information. If the address turns out to be a forgery, it demonstrates the applicant’s determination to conceal his or her previous identity. 

Advances in digital technology are assisting Employee Background Verification Companies in India.

Aside from the CV, employee background verification companies can check the candidate’s online information. Furthermore, the Government of India has supported the background verification process by creating digital outlets where information is stored. 

 

Almost all information regarding the candidate is available in the Aadhar Verification, from residence address to biometrics. The National Academics Depository (NAD) was established to digitally store academic records. This aids to eliminate fraudulent practices such as faking certificates and marksheets. 

The government’s NSR (national skills register) is the largest database for working professionals. This makes it easy for businesses to verify the information provided by their employees. Because of technological improvements, it is simple for the top background verification businesses in India to collect information online. 

 

Social media is also an essential tool, and background verification companies in India make extensive use of it. This vital technology is used by the world’s best background verification companies to map out valuable information about personnel. Background check businesses can calculate the applicant’s interests, participation, actions, and affiliations. 

Background Verification Process in India

In India, background checks are performed either by the company or by third-party agencies. Large corporations or organizations engage the top employee background verification companies in India to do pre-employment background checks. 

 

Smaller businesses normally undertake the verification themselves with the assistance of an HR team. The employment verification process is determined by the many norms and the type of investigation required. 

A detailed report is supplied to the employer once the background verification company has completed the background verification process completely. After reviewing the complete report, the employer will decide whether or not to hire. In the event of a post-employment verification, the employer will decide whether or not to keep the employee. 

 

The background verification process typically takes 3-10 days; however, it may take longer if the background verification provider wishes to conduct a thorough background check. 

Top 10 Background Verification Companies in India

India is the world’s fastest expanding economy, bringing various firms and industries to the forefront. As a result, this has immediately paved the way for the establishment of a slew of background verification firms in India. 

 

Today, both large and small organizations have recognized the need for an efficient pre-employment background check system in India, which has resulted in companies trying to be the best background verification company in India. Here is our pick of the top 10 Background verification companies in India: 

CFirstCorp

CFirst Corp offers a cost-effective and personalized background check solution via an industry-leading, user-friendly web-based system. They are also an ISO 27001:2013 certified firm.

Corporate Investigation India

Corporate Investigation India provides pre-employment background checks, acknowledging the critical necessity to screen future employees at all levels. Other checks include the verification of white papers/documents, tenant screening, and drug testing. CII operates globally in accordance with the norms and regulations in effect in that jurisdiction.

JustVerified

JustVerified is India's first background verification company with a mobile application and a web-based application, providing clients with a convenient way of authentication and reliability.

The Fourth Force

Fourth Force ranks among the top ten finest background verification firms in India as a professionally managed background verification company with a staff of 100+ educated specialists delivering fair and dependable services in the validation of available information.

Sleuths India

Sleuths India is well-known for providing unrivalled investigation services for individual cases, company cases, debtor concerns, pre-employment and post-employment checks.

IBC

The IBC is run by professionals with vast expertise in the global screening sector. They are also an ISO 9001:2015 and ISO:2015 certified organization.

iCrederity

iCrederity's goal is to provide a standard platform for background verification based on authentic credential analysis that is accessible globally and supported by a strong network.

iChek Services

With over ten years of expertise in pre-employment background checks, iChek has a wealth of industry knowledge.

SecUr Credentials

SecUr Credentials Ltd. is one of India's major background check firms, having pan-India coverage and global operational capabilities.

Prompt Personal

Prompt Personal is one of India's leading HR solutions providers, with over 22 years of expertise.

This is the era where technology is significantly affecting the method of employee background checks and how they can be used. So, like any other industry that technology has transformed, background screening will transform, but for the better, thanks to the immense power of technology. 

 

With the latest technology in operation, MIMO’s employee background screening services can be used to perform verification quickly and easily by organizations. Companies need to send a request to MIMO for a background check and they can receive all relevant records without delay. Working with a reputable background check firm can help save on time and money while also ensuring that the company remains compliant in the customer screening process. 

 

Here at MIMO, we are aware of the high levels of transparency, complex legislation, and laws that the financial sector and other industries must adhere to and comply with. MIMO offers all-inclusive background check services with a focus on protection to provide you with the most reliable and up-to-date details. 

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How Background Verification Checks work in India

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How Background Verification Checks work in India

Increasing competition, as well as the availability of copious employment information on many job portals, has resulted in a desire among the youth to migrate to well-paying jobs. As a result, they turn to practices such as resume sprucing, exaggerating successes, falsifying information, and so on, and this is a major reason why organizations in India suffer from terrible hires. 

 

This is why companies do background verification checks to learn about your previous employment experience, criminal records, educational credentials, and residential proof. Almost all companies now do background checks on candidates before offering them a job. 

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What exactly is the Employee Background Check Process, and how long does it take?

A thorough assessment of a candidate’s employment history, college degrees, academic credentials, court records, and occasionally credit scores is part of the employee background verification procedure. 

 

Typically, the process takes between 3 and 10 days. It may, however, be extended if a corporation wants to do a thorough investigation into your background (mostly done for senior-level hires). 

 

In most circumstances, a company will conduct a background verification check on you after you have passed all of the interview rounds. 

How are Background Verification Checks Performed in India?

Companies begin the background check by contacting your most recent workplace. They will cross-reference the information you provided with data from your previous employer. 

 

Then, firms search public databases (criminal records) for any evidence of illicit activities. They then dig through your educational records to validate your degrees and certificates. Finally, businesses will check your address. They may even send people to real sites to verify a candidate’s address. 

However, different companies in India perform background verification checks in various methods. This is how they do it:

The Government's Background Verification Efforts

The government is also stepping up its efforts to prevent you from committing fraud. Here are the new tools it is employing to assist firms in conducting background checks on you. 

1. Aadhaar authentication

2. National Academics Depository (NAD)

 The government established NAD to digitize your educational records. NAD may also give trustworthy certificates to verified users because they intend to get every education board and institution in India on board. 

3. National Skills Registry (NSR)

The NSR is the largest database of working professionals that assists businesses in verifying personnel information (if they are registered). 

Social media

Nowadays, every firm you interview with searches your social media accounts. Employers can now easily map your interests, activities, and affiliations thanks to social media. That is, a hiring manager can imagine your personality without spending time with you. 

Is it legal in India to perform background verification checks?

They are, indeed. Furthermore, job background checks in India are mainly unregulated. It is not governed by any precise rules. And because the legal jargon surrounding background verification checks is so hazy, many third-party agencies are content to ignore it. So, while all employers require your permission to conduct a background verification check, many do so regardless. 

Background checks are misunderstood by many employers and employees, resulting in hiring or application errors. Let's have a look at some typical misconceptions:

Myth #1: Every background check is the same.

Fact: The truth is that no two background checks are alike. Before your organization hires someone, they don’t have to pass every form of background check. Each job has its own set of requirements. Driving records, for example, may be important to field salespeople and taxi drivers, but not to office staff. 

Myth #2: If you have a criminal record, you won't be hired.

Fact: Most candidates and employees believe that having a criminal past will prevent them from being hired. Not every arrest results in conviction. An arrest on their record does not mean they are guilty. 

Despite the fact that background screening can delve into every element of a person’s past, there may be a solution that doesn’t ponder your candidate’s character enough. The bottom line is that a criminal past does not always imply that you will not be hired. 

Myth #3: Background checks are only available to large corporations.

Fact: An employee background check is essential for any company, whether it is a Fortune 500 company, a medium-sized company, or a small firm. Small and medium-sized businesses can’t afford to hire the wrong people. One of the most common causes of startup failure is the hiring of the incorrect team. Bad hires can cost a company far more than the cost of a background check. 

Despite the fact that background screening can delve into every element of a person’s past, there may be a solution that doesn’t ponder your candidate’s character enough. The bottom line is that a criminal past does not always imply that you will not be hired. 

Myth #4: Conducting a background check on candidates takes a long time.

Fact: The length of a background check is determined by the scope of the search, the length of the records, the location of the documents, and local legislation. Employee background check service providers like MIMO require 30 percent less time than competitors on average. 

Myth #5: Job seekers have no power

Fact: Job seekers believe they have little control over background checks and that employers hold all the cards. Some employers believe that those candidates are helpless. 

However, a background check cannot be conducted without the applicant’s consent. If the company decides not to hire the job applicant, the employer must explain why. An applicant also receives a copy of the background check report and has the option of contesting it. 

Creating a Policy for Background Checks

Creating a policy does not require extensive study, but it does require documentation of who and what you will verify. This guarantees that your organization conducts background checks consistently and that the information acquired is handled correctly for hiring choices.

Components of Policy: The following are examples of background checks:

Here are four facts concerning background verification checks that you should be aware of:

How can MIMO help?

This is the era where technology is significantly affecting the method of employee background checks and how they can be used. So, like any other industry that technology has transformed, background screening will transform, but for the better, thanks to the immense power of technology. 

 

With the latest technology in operation, MIMO’s background screening services can be used to perform verification quickly and easily by organizations. Companies need to send a request to MIMO for a background check and they can receive all relevant records without delay. This will help you save a lot of time, which you can then utilize for more productive tasks. 

 

By partnering with a third-party background screening company, you will be able to receive all the information you need quickly. Working with a reputable background check firm will save you time and money while also ensuring that you remain compliant in the customer screening process. 

 

Here at MIMO, we are aware of the high levels of transparency, complex legislation, and laws that the financial sector and other industries must adhere to and comply with. MIMO offers all-inclusive background check services with a focus on protection to provide you with the most reliable and up-to-date details. 

 

For more information and to avail of our Background verification services, please contact us at https://mimoiq.com/background-verification-services-in-india/

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The Impact of COVID-19 on the Gig Economy

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The Impact of COVID-19 on the Gig Economy

The COVID-19 health catastrophe is an extraordinary blow that is affecting people’s lives and livelihoods across the world. Its impacts are likely to be felt not just in the near term, but also in the medium and long term. The severe health consequences have been matched by dramatic losses in economic activity and labor market turmoil.

 

Fear of infection, public guidelines, and widespread uncertainty caused a significant reduction in economic activity and disrupted global value chains, resulting in a deep and broad shock to the labor market. Furthermore, state-imposed lockdowns and business closures have had severe consequences, with millions of workers in numerous nations seeing a reduction in, or entire loss of, their jobs.

 

As industries were required to shut down to safeguard workers’ health and promote compliance with mitigation and containment rules, many countries implemented widespread job retention and/or income support systems to assist workers. Employers reorganized their operations whenever possible to allow for remote working arrangements.

 

Participation in the gig economy has developed significantly in recent years and has expanded dramatically since the commencement of the coronavirus epidemic, owing in part to an increased reliance on gig workers to deliver essentials to consumers’ homes.

 

India has 15 million gig workers, accounting for around 40% of all freelance tasks available globally, and this figure is continuously increasing year after year. A considerable share of the country’s school dropouts, college students, and those who are only partially employed seek part-time work to support themselves and their families.

 

One of the most significant advantages of the gig economy is the flexibility it provides, both in terms of working hours and employment types. In fact, before the epidemic, over 70% of gig workers reported that they chose to work in the gig economy because it provided more flexibility and, in some cases, higher pay than full-time employment.

 

As the world begins to fully embrace this new form of working, which will likely rise in the aftermath of the pandemic, talent executives must plan for this inevitable shift and discover new methods to support workers to preserve the gig economy’s long-term viability.

 

The gig economy has undeniably become a vital component of the Indian workforce; a tendency that has only been accelerated by the pandemic. Millions of people are deciding to pursue a work arrangement that better matches their lifestyle than the typical full-time job.

 

However, the expansion of the gig economy raises important considerations concerning the rights of its workers and the long-term viability of this work arrangement if those rights are not fulfilled.

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Turbulent times for MIMO and gig workers

Starting with just a couple of clients and 250 field officers in late 2017, MIMO served more than 70 clients through 10,800 field officers till February 2020. MIMO’s future appeared bright, with its operations reaching 19 Indian states. The coronavirus then hit. The entire country was put under lockdown. MIMO’s field activities were shut down, and clients failed to uphold their pledges to continue doing business during these difficult circumstances.

 

MIMO, desperate for survival, has considered a video verification mechanism. This is not a large, groundbreaking change, but rather a simple tweak to make the greatest use of the available resources: video calling. What began as a temporary solution during the ongoing crisis quickly gained traction with both clients and field officers working from home.

 

Clients’ confidence in MIMO’s deliverable quality, as well as the MIMO team’s capacity to implement the new procedure and educate interested field officers, has begun to yield results. MIMO could be performing more transactions than the pre-COVID era, having grown from nearly zero transactions in the latter half of March to a couple of hundred today and a pipeline of two major clients joining in. To read the full story, please visit https://www.microsave.net/2020/06/17/mimo-bridging-the-digital-gap-for-the-rural-workforce/

The Impact of COVID-19 on the Gig Economy

The Bottom Line:

Now is the time for businesses to rethink the role of gig workers in their organizations and devise a strategy to retain them in the future. While their expanding ranks may bring workforce agility and cost efficiency, as the economy improves in 2021, companies must examine how to retain the best gig workers to help their organization expedite recovery efforts in the months and years ahead. For more info regarding MIMO’s services, please visit Supply Chain Service Provider In India – MIMO (mimo-technologies.com)

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What are the KYC Procedures for Merchant Onboarding?

The merchant onboarding process is at the core of the payments industry, any business who want to onboard merchants onto their platform can use the techniques described here to comply with guidelines and mitigate risk.