INFOBIZ MAGAZINE S P E C I A L E D I T I O N RESUME TIPS 8 TIPS FOR SAVING YOUR MONEY FOR FRESH GRADUATE J A N U A R Y 2 0 2 3 TOP 10 BEST-SELLING MAGAZINE FINANCE MANAGER SKILLS FINANCIAL WELL-BEING FINANCIAL BEHAVIOUR, COLLEGE STUDENTS V O L . 1 I S S U E 1
CONTENTS to download this current issue to your tablet Visit by Nur Diyanah Roslan Editor's Note 3 Designer's Note 5 Resume Tips for Fresh Graduates 10 11 4 Key Features of an EDRMS 23 4 Benefits of an EDRMS 24 How to Improve Finance Manager Skills 12 8 Tips for Saving Your Money 14 8 Vital Skills Any Good Finance Manager 18 INFOBIZ.COM/TABLET INFOBIZ by Siti Aisyah by Valerie Electronic Documents & Records Management System (EDRMS) 21 by Siti Noraishah College students' Financial behaviors by Izzah Maisarah
I N F O B I Z M A G A Z I N E IT'S QUITE A THRILL to take my places as the editor in chief in this great magazine. It was all very exciting. We never stop providing the best content that you needed in your daily life. It is my commitment and the entire InfoBiz Magazine team to always provide the latest and most substantive content for you. We believe our readers deserve the best. Happy reading! EDITOR'S NOTE VALERIE, EDITOR-IN-CHIEF PAGE | 3
I N F O B I Z M A G A Z I N E IT'S A WRAP!! Such a thoughtful journey and experience for me as a Managing Editor of this magazine. Creating an interesting, informative and easy-to-read article is something that every publication needs to know, regardless of their specific themes and topics are very challenging task for me. But I believe that every challenge that we face is the OPPORTUNITY to become more than we've been before, so enjoy every single page of this magazine peeps! EDITOR'S NOTE NUR DIYANAH, MANAGING EDITOR PAGE | 4
I N F O B I Z M A G A Z I N E "BE FEARLESS" is my favourite life motto. As the art director of InfoBiz Magazine, I have faith in myself that every difficult task of creating this magazine is a wonderful life lesson for me. I always remind myself that no matter how tough this week goes, I face every challenge with courage. So, I do believe something very magical when you read this magazine. I hope that any magical words in this magazine can bring happiness to your life. DESIGNER'S NOTE SITI AISYAH, ART DIRECTOR PAGE | 5
I N F O B I Z M A G A Z I N E "How can I make this design great?" was the word that kept me up late at night. But my nightmare ended as I read some wisdom from some true masters of design. Maya Angelou said "You can't use up creativity. The more you use, the more you have." I'm very proud of myself for my undeniable talent in design. I hope you enjoy reading this magazine as I put a lot of effort into making this magazine. I appreciate it! DESIGNER'S NOTE IZZAH MAISARAH, GRAPHIC DESIGNER PAGE | 6
I N F O B I Z M A G A Z I N E The word "BRAVO" from my college encourages me to do more and more in photo editing. Sometimes, I have a lot of ideas in my mind at one time and I put them all in this magazine. So, here are our most successful magazine for everyone. I truly believe that anyone who read this magazine can gain a lot of knowledge. Enjoy it! DESIGNER'S NOTE SITI NORAISHAH,PHOTO EDITOR / RESEARCHER PAGE | 7
Infobiz 1st Issue By Nur Diyanah Roslan 10 January 2023 Writing a resume as a fresh graduate with little to no work experience. Tip 1: Include non-work experience in your resume Writing a convincing resume is a crucial factor in successfully being accepted for a job. The task of creating a resume is challenging for fresh graduates who lack the experience of being in the workforce. As most organizations prefer those with experience, writing a good resume and possessing an indepth background related to the industry is the key to competing in the job market Volunteer work Extracurricular activities such as sports and clubs Vocational training and apprenticeship Retail work or part-time jobs. For a fresh graduate without work experience, it is crucial for your resume to show the steps you took to gain skills related to the position you are applying for. Some examples of experiences you may include in your first resume: JOB CORNER January, 2023 UiTM Puncak Perdana R E F E R E N C E S : K . ( 2 0 2 2 , A P R I L 1 3 ) . R E S U M E W I T H N O W O R K E X P E R I E N C E . C A R E E R R E S O U R C E S . R E T R I E V E D J A N U A R Y 2 8 , 2 0 2 3 , F R O M H T T P S : / / W W W . J O B S T R E E T . C O M . M Y / C A R E E R - R E S O U R C E S / J O B - H U N T I N G / 1 0 - B A S I C - P O W E R F U L - R E S U M E - W R I T I N G - T I P S - F R E S H - G R A D U A T E S - D O W N L O A D A B L E - S A M P L E - R E S U M E S / PAGE | 8
“Go as far as you can see; when you get there, you’ll be able to see further.” —Thomas Carlyle Many fresh graduates wonder "What should I include in my resume?". First, jot down all the relevant personal and contact information on yourself. This includes your name, contact details, email address as well as other information your employers need to know about you as a person applying for the position. The most important part is to stick with the information that the company asks for. Be sure to avoid sensitive information such as your home address, date of birth and religion as this information may compromise your privacy or be used to discriminate against you. JOB CORNER January, 2023 UiTM Puncak Perdana Tip 2: Make your resume personal but concise Tip 3 : Focus on the company needs Assess the company's needs and use them to your advantage to market yourself as a viable option. If you fit what they need they will hire you. It is important to remember that there is a reason or necessity why they are hiring people for the position. If you happen to spot anything in the job description that appeals to you, use it to your advantage. Be sure to highlight your skills and traits that show you have the potential for the position. R E F E R E N C E S : H O W T O W R I T E A R E S U M E I F Y O U A R E A F R E S H G R A D U A T E . ( 2 0 2 0 , A U G U S T 2 6 ) . I N D E E D . R E T R I E V E D J A N U A R Y 2 8 , 2 0 2 3 , F R O M H T T P S : / / S G . I N D E E D . C O M / C A R E E R - A D V I C E / R E S U M E S - C O V E R - L E T T E R S / H O W - T O - W R I T E - A - R E S U M E - A S - A - F R E S H - G R A D U A T E PAGE | 9
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Gutter, M., & Copur, Z. (2011). Financial behaviors and financial well-being of college students: Evidence from a national survey. Journal of family and economic Issues, 32(4), 699-714. https://link.springer.com/article/10.1007/s10834-011-9255-2 Many individuals reach this age before beginning to work for a wage and before starting to use credit cards issued in their names. Others take out their first significant loan and have to deal with the burden of managing their debt. COLLEGE STUDENTS' FINANCIAL BEHAVIORS Amid these pivotal life circumstances, finances, and more specifically the credit approach to which college students' have obtained access, unquestionably play a significant role in defining the mindsets and behaviors' that individuals embrace, not only concerning managing their finances but also about life in general. A person's ability to qualify for a mortgage, buy a car, get hired, secure insurance, take out loans from banks, and access other financial services can all be negatively impacted by a history of bad debt management. However, college students report higher ranks of tension and lower classes of psychological well-being; as a result, the financial well-being of college students negatively correlates with educational achievement and fitness. That one's level of financial well-being is directly and indirectly related to their financial actions. These behaviours include paying off credit card balances in full each month, sticking to a weekly or monthly budget, and putting money away for savings. positive financial behaviors should improve financial well-being. Figure 1 Calculator and cash management PAGE | 11 R E F E R E N C E S : G U T T E R , M . , & C O P U R , Z . ( 2 0 1 1 ) . F I N A N C I A L B E H A V I O R S A N D F I N A N C I A L W E L L - B E I N G O F C O L L E G E S T U D E N T S : E V I D E N C E F R O M A N A T I O N A L S U R V E Y . J O U R N A L O F F A M I L Y A N D E C O N O M I C I S S U E S , 3 2 ( 4 ) , 6 9 9 - 7 1 4 . H T T P S : / / L I N K . S P R I N G E R . C O M / A R T I C L E / 1 0 . 1 0 0 7 / S 1 0 8 3 4 - 0 1 1 - 9 2 5 5 - 2
HOW TO IMPROVE FINANCE MANAGER SKILLS Finance managers have opportunities to advance their training and education to create better job roles or command a higher salary. Here are a few ways finance managers can improve their job prospects. Increase technology know-how Technology is already a large part of workplaces and continues to show steady growth. Finance managers can improve their resumes by taking information technology courses such as learning Structured Query Language (SQL) or planning tools such as Jira or Azure DevOps. Earnanadvanced degree Finance managers usually hold a bachelor's degree but may consider an advanced degree in economics, finance or business administration. An advanced degree may open opportunities in global economics or international finance. Earna certificate orlicense Earning either a certificate or license not only lends credibility to your qualifications, it also signifies your commitment to your profession. Options include the Chartered Financial Analyst (CFA), Certified Treasury Professional, Certified Management Accountant or Certified Public Accountant (CPA). Focus ona specialty Finance managers may choose to narrow their focus into a niche category such as risk management, treasury, insurance or superforecasting. R E F E R E N C E S : F I N A N C E M A N A G E R S K I L L S . ( 2 0 2 3 ) . T R A V E L P E R K . R E T R I E V E D J A N U A R Y 2 8 , 2 0 2 3 , F R O M H T T P S : / / W W W . T R A V E L P E R K . C O M / G U I D E S / M O D E R N - G U I D E - T O - F I N A N C E - M A N A G E M E N T / H O W - T O - B E C O M E - B E T T E R - F I N A N C E - M A N A G E R / PAGE | 12
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TI P S F O R 8 Keep track of your spending If you know where your money is going it will be easier to make changes if you need to. Separate wants from needs Do you really need that 42- inch flat screen television? When money is tight it should not be spent unless absolutely necessary. Check your insurance policies Review the coverage for all your plans. You may have too much and be wasting money or too little and not be adequately covered. Cut or downgrade your services Can you get a cheaper cable package or have no cable at all? If you have a cell phone consider cutting your land line. PAGE | 14
M O N E Y S A V I N G Y O U R Avoid using credit to pay your bills While it may make things easier now, using credit only increases your monthly payments in the future. Save regularly Have some of your paycheck directly deposited into your savings account or set up an automatic transfer each month from your checking to your savings account. Try lowering your energy bill Turn off appliances and lights when they are not needed. Purchase energy-efficient lightbulbs. When you can, use a fan instead of air conditioning or put on a sweater instead of turning on the heat. Cut down on takeout ordering Even if the meal is not expensive, doing it frequently can really add up. A RM 39.90 pizza once a week will cost you over RM 2, 074 a year!. B Y : V A L E R I E PAGE | 15 REFERENCES: 8 Tips for Saving Money | Virginia Credit Union. (n.d.). https://www.vacu.org/learn/financial- management/saving-and-investing/10-tips-for-saving-money
COVID-19: Know the Numbers 96% 4% 99% of infected individuals have been diagnosed with the mildest strain of the coronavirus. Only 1% are in serious/critical condition. There are currently over 40,000,000 active cases worldwide with more than 30,000,000 recoveries recorded. "Most infected people recover without hospitalization." Recovered/Discharged Majority of closed cases are individuals who have been discharged and have recovered completely. Deaths Out of the 30,000,000 closed cases, 4% were deaths. SARS-CoV-2 infection occurs through direct and indirect contact, short range droplet sprays, and aerosol in long-range (airborne transmission). Wear a mask and help stop the spread. PAGE | 16
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8 v i t a l s k i l l s a n y g o o d f i n a n c e m a n a g e r 1 Strategic and analytical skills Finance professionals need to approach problemsolving in a creative way and find innovative solutions in an ever-changing environment. Financial professionals need to possess the analytical ability and know-how to look at those numbers and really understand what the data is saying. Financial reporting, studying market trends, and forecasting are just a few of the roles in which require cutting-edge analytical skills. 2 Be tech-savvy Technology has changed the financial services industry, also for clients who now also have easy access to their income statements, financial statements, balance sheets, and other documents via new accounting software. Most work has migrated to cloud accounting applications making data available and accessible across multiple platforms. This means that accountants need to have a strong grasp of software and need to help clients navigate it too. 3 Adaptability It is easy to see why being adaptable is an important skill in financial management. The ever-changing nature of the industry, the advisory role many accountants need to take, and the constant advancements in technology mean that finance leads need to think and work on their feet. They must be ready to change and adapt to new situations when needed. 4 Honesty and strong values There are very strict legal and compliance guidelines that finance managers need to work within to ensure their clients’ activities are above board and within the law. Beyond adhering to these guidelines, a finance manager who is honest and has strong ethics is highly valued in an industry that places a lot of emphasis on transparency and integrity. R E F E R E N C E S : F I N A N C E M A N A G E R S K I L L S . ( 2 0 2 3 ) . T R A V E L P E R K . R E T R I E V E D J A N U A R Y 2 8 , 2 0 2 3 , F R O M H T T P S : / / W W W . T R A V E L P E R K . C O M / G U I D E S / M O D E R N - G U I D E - T O - F I N A N C E - M A N A G E M E N T / H O W - T O - B E C O M E - B E T T E R - F I N A N C E - M A N A G E R / PAGE | 18
6 Strong communication skills For finance managers working in public practice, harnessing trust and loyalty from clients is what keeps their operation financially viable. Finance managers need to be ready to communicate with people across all mediums as different clients might prefer different channels like phone calls, emails, and more. A good finance manager is one who knows how to break down complex financial jargon into a language that clients can easily understand. Finally, it is important to remember that being a good communicator means being equally skilled at listening, understanding, and empathizing. 5 8 7 Leadership skills At more senior levels, finance managers will likely find themselves in a position where they need to manage a team of accountants or finance officers. This means that, as finance officers’ careers progress, they need to start thinking about what sort of leader they’re going to be and hone their managerial skills. As more companies move towards flatter organizational structures, individuals working at all seniority levels have the opportunity to lead and collaborate within a team. Industry-specific knowledge Finance managers working for clients or companies in particular industries like healthcare, travel, business administration, or insurance companies can bring a lot more to the table if they gain knowledge and a clear understanding of the sectors they’re working in. A strong grasp of finance and accounting is obviously needed but going the extra mile can really take you to the next level. Keep learning Obtaining your bachelor's degree and the relevant accreditation is a big step towards developing a strong reputation as a high-quality finance manager. Like any position, being constantly open to learning and seeking out opportunities to do so will ensure that you are always at the top of your game. One way to do this is by taking CPE courses which keeps you up-to-date with industry and regulation changes. Naturally, one of the best ways to improve your skill set in the world of accountancy is through the work experience itself. Entrylevel finance officers often get the opportunity to work with mentors within their firms. This is an invaluable opportunity to learn the ins and outs of the industry and map out their career trajectory. Below are 8 skills any finance manager worth their salt should seek to hone in order to advance their career: PAGE | 19
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ELECTRONIC DOCUMENT & RECORDS MANAGEMENT SYSTEM (EDRMS) It is a software application that maintains digital information such as email, word-processed documents, spreadsheets, pictures, and scanned documents. An EDRMS may also manage paper documents and physical things. An EDRMS allows for desktop access to information throughout an organization, as well as the security, access, version control, and audit capability necessary for best-practice information management. EDRMS can also provide automated business processes like workflows and approvals. EDRMS software solutions combine all current company document management into a consolidated, seamless electronic records system, which is sometimes hosted in the cloud for convenience and ease of access. What is EDRMS? Previous Study According to one survey, 7.5% of paper documents are entirely lost, while 3% are misfiled. In terms of labor hours, maintaining a single four-drawer file cabinet costs around $2,000 each year. We no longer deal with documents in the same way that we did 20 years ago. Our electronic signing and record-keeping systems bore little relation to the rows of files stored in filing cabinets. There's no need to continue doing things the same way. REFERENCES: Newgen Software. (2022, December 19). Electronic Document and Records Management System | EDRMS Software. Newgen. https://newgensoft.com/solutions/industries/government/electronic-documents-records-management/ B Y : S I T I N O R A I S H A H PAGE | 21
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4 Security Communication KEY FEATURES OF AN EDRMS Document Storage In any firm, documentation accumulates over time, making it difficult to locate that permission you obtained a year ago or an employee record. An EDRMS either collects user input or automatically files material electronically, putting all of that documents in one easy location rather than on you shelf or in separate folders dispersed across several computers inside your business. Sorting and Categorizing Making assuring all of your paperwork is in order and easily accessible is an important aspect of efficient records management. An EDRMS classifies and categories documents so that it can be located with a few keystrokes. This function alone will save a company hundreds or even thousands of hours of effort. Some documents are extremely sensitive, and leaving critical organizational information on a shelf or in an unprotected computer folder is a formula for catastrophe. An EDRMS centralizes everything and prohibits unauthorized individuals from accessing it. Most EDRMS software allows the administrators to assign different permissions to distinct files, ensuring that one person who requires access to one file does not have the keys to the kingdom. An EDRMS frequently includes communication tools, such as informing a department when a certain relevant document is added to the system or automatically sharing a file with personnel who have been tagged on it. Some systems may allow users to send direct messages to one another or even write up corporate documents. PAGE | 23 REFERENCES: 4 benefits of an electronic document and record management system (EDRMS). Komino Solutions – Online Pass to Success. (2020, August 31). Retrieved January 27, 2023, from https://kominosolutions.com/manage/4-benefits-of-an-electronic-document-and-record-management-system- edrms/#:~:text=4%20key%20features%20of%20an%20EDRMS%201%201.,3%203.%20Security%20...%204%204.%20Communication%20
4 Better Security Increased Accessibility ImprovedEfficiency BENEFITS OF AN EDRMS MoreOrganized Operations When all of your paperwork is structured, your company has a professional appearance. This benefits everyone's thinking since it's simpler to work when everything is at your fingertips. A crowded desk, as the phrase goes, is a symptom of a cluttered mind. By reducing your paperwork, you are taking a significant step toward streamlining your whole firm. It is tough to keep information secure in the digital era. You are under attack from people all around the world who want to steal the important information. With features that need authorization to access particular information, an EDRMS ensures that data is safe and secure. Furthermore, by recording document modifications, an EDRMS may notify management to any unlawful changes, allowing them to return the document to its original forms. With EDRMS, your staff will have much simpler access to records. They won't have to rummage through heaps of papers in a cardboard box stashed in a closet, or search various computers for a file hidden someplace in a random folder. Instead, they'll have a centralized system where they can find a file with a few keystrokes. This makes their duties easier and allows them to focus on more vital things. When all of your documentation is organized and easily accessible, your company becomes more efficiency and hence more productive. Your personnel will spend less time manually inputting data and looking for documents. You'll also save money on document management costs because everything is digital and many operations are automated. PAGE | 24 REFERENCES: Taylor, D. (2022, May 18). 4 Benefits of an Electronic Document and Record Management System (EDRMS). The Motley Fool; The Ascent by The Motley Fool. https://www.fool.com/the-ascent/small-business/document-management/articles/edrms/
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