Booking to cash process

  Booking to cash process This process begins when the system gets a request from a consumer. Customers can place orders online directly on your website or by email from your sales staff. Either way, automating your order management can help you move orders quickly from order entry to cash receipt. Order fulfillment and delivery follow next in the cycle (Ahmed et al ., 2017). This stage of the cycle mostly pertains to firms that deal with physical items, where inventory staff should be informed with the correct information of the order to proceed with fulfillment and delivery. When it comes to digital services or Software as a Service (SaaS), this might entail allowing access to the ordered product or service. In this case, study how the booking to cash process is occurring in the photography company Fotof Fotof's booking to cash or Order to cash provides services in the areas of family photography, personal event photography (such as weddings and parties), and commercial pho

ALL ABOUT CAR INSURANCE:



The importance of insurance comes with the motto " Protect yourself and others". It is undeniable that in the times of any unfortunate situations the stress of dealing with  emotional stress and financial issues having insurance provides the financial security to deal with the situation with peace of mind.

There are a variety of insurance policies aiming to protect certain features like health, home, motor, travel, property and so on. These insurance policies help in the case of an emergency situation which can leave the person debt-ridden. Thus the importance of insurance is inevitable. Among the insurance policies, Motor Insurance which deals with the vehicles is essential to have by the vehicle owners. In many countries it is important to have basic motor insurance for the vehicles.

When a car (motor) is bought, there comes the responsibility and risk about the safety of the vehicle, its owner and the other third party. Every single vehicle running on the road carries the risk of incurring legal liability to pay the third party for death, bodily injury, property damage with the loss of accidental damage to the vehicle itself. Thus whether in a collision the fault is of yours or another, the insurance policy helps you overcome it by helping financially. Here is the guide to explain all about Car Insurance.

To avail the benefits of car insurance you have to pay a premium. Basically the premium of car insurance is valid for one year, the buyer has to make renewal of policy each year to keep it active. Under every type of car insurance, there are terms and conditions of the policy which helps in the financial crisis arising due to any unfortunate accidents or mishap. There are also several add-ons available to further enhance the protection of your vehicle.

TYPES OF CAR INSURANCE:

Insurance coverage refers to the kind of protection available in case of unforeseen incidents. Along with the basic coverage there are multiple add-ons available in car insurance to enhance the protection by the insurance policies. Here are the types of car insurance.

1. Third Party Liability Only Cover: Under this type of car insurance, the owner gets the benefits of:

a. Cost of repairs of the damaged vehicle of third parties.

b. Cost of hospitalization and treatment of third parties.

c. Liabilities arising due to death of third parties.

Third-party car insurance coverage is a must coverage for the vehicles on the road. The amount for the coverage should be high to avoid payment from your side during settling the issue. Liability coverage covers both physical as well as property damage done. It can protect you financially from lawsuits coming out from the accident. It could lead to cancellation of your license or huge fine.

2. Collision Damage: In this insurance coverage the cost of repairs of a vehicle that has been damaged is reimbursed. For the cost of repair, cars age and insured declared value are taken into account to arrive at the premium. The IDV is based on the market value of the vehicle. The maximum amount payable under the policy is calculated by the IDV less depreciation. If you have purchased your vehicle on a loan you should hold collision cover.

3. Personal Accident Cover: In this insurance coverage, the vehicle owner-driver protects himself by opting reimbursement of medical expenses after an accident. This coverage acts as a shield for the family.

4. Comprehensive Car Insurance: In this insurance coverage, the highest level of protection is provided as it includes liability for third parties damage, to the own vehicle, personal accident cover and all non-collision damage such as storms,flood fire and theft. It is an extensive policy type. The owner gets the total market value in case the vehicle is stolen, damaged by natural accident or damaged beyond repairing.

FACTORS DETERMINING THE PREMIUM OF CAR INSURANCE:

In order to prevent overpaying while buying the insurance policies, there are certain factors which must be looked at while buying. This helps ensure the buyer that he is paying for the policies he actually needs. Here are the factors which determine the premium of the car insurance.

  1. IDV- Insured Declared Value is the maximum insured amount which is paid by the insurance company. It is almost equal to the market value of the car, hence not constant in nature.
  2. Age of the vehicle: Each year the value of vehicle depreciates with the launch of new models with extensive features in them.
  3. Car Engine’s cubic capacity: The car’s engine size determines the premium amount.
  4. Registration Number: The cost of premium also depends on the city of the registration of the vehicle.

It's important to choose a good insurance policy. The different types of policies have different features and that is why it is important to research before making a final purchase. Here are the tips which will help you find the best car insurance for you.

  1. Select the correct form of insurance cover seeing it cover all the basic requirements that a car insurance must have.
  2. The insurance policies can be compared online which can help you in deciding what’s best for you. The insurance companies also provide discounts from time to time.
  3. Make sure the IDV is calculated properly so that it can cover basic requirements of yours.
  4. Analyze the claim process properly. Merely purchasing the insurance is not enough to make sure that the claim process is handy and it delivers to you when you need it the most.
  5. Choose a good insurer for your vehicle. Check if the insurer has good claim settling reviews and has active customer support features.

Thus buying car insurance is essential for you and your family's safety. Be a smart buyer and select the plan which completely suits your needs and provides basic coverage for your safety. Renewing it and keeping the policy active by paying premium remains equally important. It is equally important as buying a new cover. Make sure to read the policy’s terms and conditions thoroughly before purchasing the policy.

 

 

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