Issue 2, Volume 1 APRIL-2011

A businessman, a hard-worker, has been working full day Just converting your wealth by donating to any and night as far as possible, and so he has accumulated charitable purposes such as helping poor, orphans, huge wealth during his lifetime and it has exceeded more destitute, handicapped, old-aged-people and the than 10,000 Cr. of rupees. He does not want to lose his victim of any natural calamity like earthquake, flood, wealth even after his life since, after all, it is his own hard tsunami, etc., so that you will get an acceptable earned money. So he decides to carry all his wealth to the currency in the Heaven and accordingly you will be Heaven after his life. Is it possible in the real life? If so, can treated as a prosperous man in the Heaven.any one suggest a suitable way? and how?

So convert your effort and knowledge into money Yes. It is possible. (wealth) or service and then again convert that into

If the businessman wants to visit U.S., his wealth, in terms of rupees, has no value in U.S. So he has to convert his When we are born, we are innocent. Then we go to wealth into U.S. Dollar, an acceptable currency over school and college to acquire knowledge. Here our there. innocence is converted into knowledge. Then we go

out, seek job, do business, work hard and earn Similarly, if he wants to carry his wealth to the Heaven, he

money. So our knowledge is converted into money thus needs to convert his wealth into acceptable currency

(wealth). Let us not stop there believing money is the in the Heaven.

final target in our life. There is something more. Let us Then, what is the acceptable currency in the Heaven? convert money into by helping and doing

service, which enhances human value.

CA T.R. Susindran How will you acquire then?

PUNYA.

PUNYA

PUNYA (Good Deeds).

KEEP CONVERTING

“Continuing from loose here my last ar t ic le

AA – Thanks where I wrote a small speech from JC – I want to ask you a question. Hypothetically, whom Chetan Bhagat's will you support if your son is playing in the semi-final of heart, I would like to the Australian Open V/s the son of Kim Clijsters and say that in Life it's Leyton Hewitt after lets say 20 years AA – Jim, I wanna the ATTITUDE that say that assuming my son would be pitted against and matters wherever Kim & Leyton's son in the semi-final after 20 years and y o u a r e . I t i s God Forbid if he looses then I wanna tell him that son I

correctly said that YOUR ATTITUDE DETERMINES would be awaiting him in the final.YOUR ALTITUDE. Given below is the small on-court

And the crowd erupts after they hear the above words.interview which will remain etched in my life forever.

Some people might call this as good sense of humour Andre Agassi (Former Tennis Great and one of my all

but the one thing that reflects behind is his ATTITUDE time favourites) was having a great run at the

and that the only reason why this interview would be Australian Open where he was the winner in 2000,

etched forever in my mind. I mean at 33 that man had 2001 and 2003 (Mind you he didn't play in 2002

so much of attitude and it was so refreshing that it may because of injury). When he was playing in 2004 and

make some youngsters embarrassed.after one of the matches which again he won there was an on-court interview by Jim Courier (JC) which Although he lost that year, he won the hearts of many normally is the tradition in Australian Open. Here is the through his game, through his demeanour.”verbatim

LOVE YOU Andre……….JC – Man, this is amazing. This guy doesn't seem to

Kumar Bhagat

Attitude Determines Altitude

Editorial BoardEDITOR

GROUP EDITOR

ADVISORY COMMITTEE

SNAPSHOTS

CREATIVE INPUTS

ADVT & PUBLISHING

Nazakat Mastan

Sudhakar Rao

Abhishek PillaiArnold KatipunanDeepali Sohanpal,Dhiraj ChandanaKumar BhagatMudassir KhanNasim ShirsekarSusindran T.R.Victor Fernandes

Raymond, Praveesh

Sagar Chandiramani

Oiduts Digitalism

“In continuation to my last requirements of the customers. This feature is also edition's article on innovation, known as VARIABILITY. this month I would like to focus Ÿ INSEPERABILITY which describes another on how services could make a important characteristic of services that the difference to the customer in simultaneous activity of production and the service industry like ours. consumption being performed. This also can be It has long been recognized supported with an example; Automated Teller that overall profitability of a firm Machines (ATMs) may replace the banking clerk for may be greatly influenced by the front office activities like cash withdrawal and focusing on not only at the top- cheque deposit. But at the same time, the presence

line by improving sales but also focusing on the bottom- of the customer is required and his/her interaction line by lowering over-all cost of delivering services. A with the process has to be managed. company may greatly benefit through proper re- Ÿ INVENTORY (Less), i.e., services have little or no engineering of processes and remodeling the same if tangible components and, therefore, cannot be required to improve productivity at each stage. To stored for a future use. This means that the demand understand services better, lets elaborate: and supply needs to be managed as the service has There are five I's of services: to be performed as and when the customer asks for

it. This feature can also be termed as Ÿ INTANGIBILITY, i.e., services cannot be touched. PERISHIBILITY and can be explained using an They are experiential in nature. An important example, a railway ticket can be stored but the implication of this is that quality of the offer can often railway journey will be experienced only when the not be determined before consumption or use. railways provide it. Example to support this is, treatment by a doctor

would be a favorable experience only after Ÿ INVOLVEMENT which is one of the most important experiencing it. characteristics of services. It refers to the

participation of the customer in the service delivery Ÿ INCONSISTENCY which implies that different process. A customer has the opportunity to get the customers have different demands and services modif ied according to specif ic expectations. Service providers need to have an requirements.”opportunity to alter their offer to closely meet the

Praveen Chandiramani – CEO

From the CEO's Desk...

By AP

MANILA, Philippines (AP) — Remittances of Filipinos working overseas — a crucial source of income for many families in the Philippines — rose 8.2 percent last year to $18.76 billion, the central bank said Tuesday.

The increase was higher than the forecast growth of 8 percent, said central bank Governor Amando Tetangco Jr.In 2009, Filipinos abroad sent $17.34 billion home.

Nearly 10 percent of the Philippines' 94 million people work abroad, and the money they send back to their families fuels domestic spending and economic growth.

The major factors behind the increase in remittances were the wide range of countries that Filipinos are working in, demand for their skills and improved access to money transfer services.

Financial products like web-based remittance services, automated remittance machines and reloadable cash cards contributed to the resilience of remittances throughout the year, a central bank statement said.

"The stable flow of remittances continued to provide strong support to domestic demand," the central bank said.

Remittances in 2010 were close to 10 percent of the country's gross domestic product, it said.

For December alone, remittances grew by 8.1 percent to $1.69 billion.

The major sources of remittances in 2010 were the U.S., Canada, Saudi Arabia, U.K., Japan, United ArabEmirates, Singapore, Italy, Germany and Norway.

Arnold Katipunan

Philippine remittancesjump to $18.8 bln in 2010

Ÿ S.R. celebrated annual function on 7th Jan'11

Ÿ In Jan'11 Speed Remit has added new agent in Nepal for Cash payments.

Ÿ Last quarter SR had a valuable tie-ups/sign -ups with strategic agents from countries like Australia, China, Ecuador, UAE, Senegal, Nepal & Philippines.

Ÿ Speed Remit, in its expansion plan, has setup another office in GCC - Qatar

Ÿ Deepali Sohanpal as Head -HR & ADMIN

Ÿ Victor Fernandes as Business Head -India

Ÿ Rajila Iyer as Asst. Manager -Accounts & Treasury

Ÿ Feby Baguisa as Sales Executive

Ÿ Naeem Irfaan as Sales Executive

Ÿ Annahita Baria as Asst. Manager -Customer

Support

Ÿ Feroz Khan as BDO -HK

We extend our warm welcome to them in SR Family !!

The following staffs joined SR

Company News

s Sagar P. Chandiramani, s/o Praveen Chandiramani (CEO) and CBSE topper from the Commerce stream 2009, successfully completed his CA-Inter (examinations).

s Dhiraj Chandana, Manager -Treasury, tied the nuptial knot on 28th Jan'11.

s Basharit Rafique, Manager - S/w development, tied the nuptial knot on 20th Mar'11

s Bikramjeet Sohanpal, s/o Deepali Sohanpal (Head - HR & Admin) stood 3rd in class III 'C' -Springdale Indian High School, Sharjah

s Niyaz Sheikh, Systems Administrator - IT, obtained Microsoft certification on Implementation & Maintenance of SQL SERVER 2008

s Mohammed Faizal, Manager Integration , was blessed with a baby-girl on 29th Dec'10

s Mudassir Khan, Manager Marketing, was blessed with a baby-girl on 12th Dec'10

s Mayuri Pol, Accounts Executive, tied the nuptial knot on 14th Nov'10

s Images in this newsletter contributed by Monish Chandiramani which were also selected for page backgrounds in Our Own English High School's annual magazine 2011.

s Umraan Mastan received Silver certificate for Commendable Academic Performance in Grade-III of Our Own English High School.

Staff Accolades - best wishes !!

Remittances to Developing Countries Resilient in the Recent CrisisRemittances to Developing Countries Resilient in the Recent CrisisWASHINGTON, DC, – Remittances to developing Germany. Worldwide, the top recipient countries in 2010 immigration quotas, which would probably slow the countries were a resilient source of external financing are India, China, Mexico, the Philippines, and France. As growth of remittance flows. Also uncertain currency during the recent global financial crisis, with recorded a share of GDP, however, remittances are more movements can have unpredictable effects on remittance flows expected to reach $325 billion by the end of this significant for smaller countries—more than 25 percent in flows,” Ratha added.year, up from $307 billion in 2009, according to the World some countries.Bank's latest Migration and Remittances Factbook 2011. In addition to crisis-related risks, there are major Worldwide, remittance flows are expected to reach $440 While high-income countries remain the main source of structural and regulatory changes in the global remittance billion by the end of this year. remittances, migration between developing countries is market. Regulations to combat financial crime have

larger than that from developing countries to high-income become a roadblock to the adoption of new mobile money The World Bank estimates that, after recovering by the countries belonging to the Organisation for Economic transfer technologies for cross-border remittances. end of this year, recorded remittances to developing Cooperation and Development (OECD). “There is urgent need to reassess regulations for countries will rise further in 2011 and 2012, possibly remittances through mobile phones and mitigate the exceeding $370 billion in two years' time. Regionally, there is significant variation across operational risks,” Ratha said.

developing regions, with larger-than-expected falls in “Remittances are a vital source of financial support that remittances to Europe and Central Asia[1], Latin America According to the Factbook 2011, the top migrant directly increases the income of migrants' families,” said and the Caribbean, the Middle East and North Africa, and destination country is the United States, followed by Hans Timmer, director of development prospects at the Sub-Saharan Africa regions in 2009. Flows to South Asia Russia, Germany, Saudi Arabia, and Canada. The top World Bank. “Remittances lead to more investments in in 2009 grew more than expected, and those to East Asia immigration countries relative to population are Qatar (87 health, education, and small business. With better and Pacific rose modestly. percent), Monaco (72 percent), the United Arab Emirates tracking of migration and remittance trends, policy (70 percent), Kuwait (69 percent), and Andorra (64 makers can make informed decisions to protect and “Remittances in 2008 and 2009 became even more of a percent). Mexico–United States is expected to be the leverage this massive capital inflow which is triple the size lifeline to poor countries, given the massive decline in largest migration corridor in the world this year, followed of official aid flows,” Timmer said. private capital flows sparked by the crisis,” said Dilip b y R u s s i a – U k r a i n e , U k r a i n e – R u s s i a , a n d

Ratha, manager of the migration and remittance unit at Bangladesh–India. The top remittance sending countries in 2009 were the the World Bank. “However, high unemployment is Nasim ShirsekarUnited States, Saudi Arabia, Switzerland, Russia, and prompting many migrant-receiving countries to tighten

Everyone tends to resist change, but companies that like business process outsourcing (BPO), it is all the delay in establishing a quality management system more imperative to have documented processes.will find they increasingly become less competitive Documented processes help in the following ways:and less effective in markets where customers demand trouble-free products and services. Ÿ Processes are optimized when best practices In every organization, both management and the are documented.general workforce tend to resist change, whether it Ÿ Processes do not become person-dependent - be in systems, culture or environment. That is natural any new employee knows how to do the work.- people are usually happy to continue with what they Ÿ Key activities run smoothly when responsibilities have always done. The change brought about by the and accountability is clearly assigned.introduction of a quality management system (QMS) Ÿ Defects are easier to capture and eliminate at - particularly in service industries - is no exception. the earliest stage.However, companies that resist this change will find Ÿ Prescribed corrective actions can be taken as that they become less effective, and thus less soon as defects occur.competitive, in markets where customers demand Ÿ Written changes in procedures and policies trouble-free products and services. reduce ambiguity and increase change control in To address the resistance, it helps to look at the the environment.questions that stakeholders may have about QMS in Ÿ Consistent process measures help gauge if their company: everything is going well.Ÿ "Why do we need to document a process?” Ÿ Better understanding of processes ensures Ÿ "Why do we need an organization chart?” compliance in service delivery.

ŸŸ "Why do we need version control and The quality management system not only provides a document control?”structure and framework, it also ensures the rigor of Ÿ "Do we need QMS if we only have 100 or less an audit mechanism that enforces corrective action. employees?”Continuous improvement happens within all Ÿ "Does QMS provide any internal efficiency or processes in a systematic manner.is it only to provide a competitive advantage?”

These are the questions that all stakeholders need A quality management system works on eight key answered before embarking on the journey of principles:installing a quality management system in their 1. Customer focuscompany. In addition, there are other questions 2. Strong leadershipmainly for the management of the company. Here 3. Involvement of peopleare two important ones:4. Process approachŸ Does leadership want a quality management 5. System approachsystem for some type of certification, or does 6. Continuous improvementit really want the company's work to have a 7. Decision making based on factssystematic process-oriented approach?8. Creating value for the company, its clients Ÿ Does leadership understand how the current

and its suppliers"pain" areas can be minimized or eliminated if the company has more efficient processes?

Many times companies embark on a methodology like Six Sigma, Lean Six Sigma or others to solve problems without realizing that these methodologies Establishing a quality management system is not center on process improvement. For any rocket science. The intent of any QMS is simply to improvement methodology to be successful, it is provide a system for developing or improving important to first have a process management and processes through a structured approach, effective process measurement system. This helps in deployment and better control. Answering a couple identifying defects and then, once a process is of the stakeholders' questions can help explain this improved, a quality management system provides and make the need for a quality management system better control for sustaining outstanding more clear.performance."Why do we need to document a process?" Some

might argue that everyone knows the process and Nazakat Mastanhas been trained in how to do their work, so why

document it? The response must be that in service industries, especially in a high-attrition environment

The Basis of Quality Management System

A System for Developing or Improving Processes

QMS in service industry

Viral marketing messages. IT), companies are now being sought for their a n d v i r a l professional insight and expertise in guerilla marketing

The goal of marketers interested in creating successful advertising are strategies and advanced Internet and mobility

viral marketing programs is to create viral messages b u z z w o r d s technology in the hopes of providing more leads, sales,

that appeal to individuals with high social networking r e f e r r i n g t o and profits than traditional marketing service providers.

potential (SNP) and that have a high probability of m a r k e t i n g A VMS company will typically create impressions for a

being presented and spread by these individuals and techniques that very specific market or audience as defined by a client.

their competitors in their social networking.use pre-existing The more impressions created for a client, the greater social networks to The term "viral marketing" has also been used the chance of increasing prospective customer produce increases pejoratively to refer to stealth marketing cam- awareness of the client's products or services. A VMS i n b r a n d paigns—the unscrupulous use of astroturfing on-line company's basis of success is based on the ability to awareness or to combined with under market advertising in shopping successfully leverage many forms of media to create a ach ieve o the r centers to create the impression of spontaneous word large market presence for the client. A VMS company is

marketing objectives (such as product sales) through of mouth enthusiasm not responsible for searching out leads. Rather, they self-replicating viral processes, analogous to the are responsible for creating leads through brand

Viral marketing servicesspread of virus or computer viruses. It can be delivered recognition by means of market branding and by word of mouth or enhanced by the network effects of Viral marketing services (VMS) include full service innovative advertising services.the Internet. Viral promotions may take the form of marketing, advertising, and media brokerage. There

Raymond Mendiolavideo clips, interactive Flash games, advergames, are outsourced companies hired for these services. ebooks, brand able software, images, or even text Like other professional niches, (i.e. lawyer, accountant,

Viral marketing

Company News...In Pictures...

Cebuana Luilliers

Dixon receiving Employee of the Month award.

Photo courtesy : Raymond, Praveesh

PEOPLE COME INTO YOUR LIFEPeople come into your life for a REASON, a SEASON or a LIFETIME.

Once you determine which one it is, you will know what to do for that person. When someone is in your life for a REASON, it is usually to meet a need you have expressed. They have come to assist you through a difficulty, to provide you with guidance and support, to aid you physically, emotionally or spiritually. They may seem like a godsend and they are. They are there for the REASON you need them to be. Then, without any wrong doing on your part or at an inconvenient time, this person will say or do something to bring the relationship to an end. Sometimes they die. Sometimes they walk away. Sometimes they act up and force you to take a stand. What we must realize is that our need has been met, our desire fulfilled, therefore, their work is done. The prayer you sent up has been answered and now it is time to move on.

Some people come into your life for a SEASON, because your turn has come to share, grow or learn. They bring you an experience of peace or make you laugh. They may teach you something you have never done. They usually give you an unbelievable amount of joy. Believe it, enjoy the time, it is real. But only for a SEASON.

LIFETIME relationships teach you lifetime lessons, things you must build upon in order to have a solid emotional foundation. Your responsibility is to accept the lesson, love the person and put what you have learned to use in all other relationships and all other areas of your life. It is said that love is blind... but friendship is clairvoyant. Often, we don't take time to say "thank-you" for the lesson...OR even recognize that these people are special in our lives. So...Thank you for being a part of my life, whether you were a REASON, a SEASON... or a LIFETIME at WORK.

Deepali Sohanpal

By Monish Chandiramani

Say Bye To Pollution

Make Happy Earth

With Banco De Oro

Office party

“I am very much contented with the service “ – Sittie Bainisa Bah Lucman, City Exchange, Qatar.“Speed Remit has the cheapest sending charges in sending money to the Philippines among others that’s why Filipinos are using it” – Kazandra Liquigan, Saad Exchange, Fujairah, UAE “Customer Service is great. They are doing wonderful job“ – Lorena Carrera, Paco Services Sarl, Lausanne

We appreciate your excellent support in arranging Cash Pickups for the remittances, particularly in the GCC countries that is worth mentioning - SAIYED ASAD MEHDI - ALMANA EXCHANGE CO, Doha, Qatar.

“Speed Remit’s service quality is good and for Inquiry has a good performance (response).Professionalism and courtesy of the customer service is excellent all query were answer same time” –Lani Mercado, Al Ansari, Kuwait “Overall, I am satisfied with Speed Remit service” – Jessa Marticio, Al Bader Exchg, Abu Dhabi.

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IMO

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Painting by Deepali Sohanpal

Word SearchANTSAUGUSTBARBECUEBASEBALLBEACHBEESBICYCLEBLUE SKYBOATINGBREEZECAMPING

GRASS

FISHINGFLIESFLOWERSGARDENINGGOLFGREENHATHIKINGHOLIDAYSHOTICE CREAM

JULYJUNEMOSQUITOESNO SCHOOLPICNICROLLER BLADESSANDALSSKATEBOARDSOCCERSOLSTICESPRINKLERS

SUNBURNSUNGLASSESSUNSCREENSUNSHINESUNTANSWEATSWIMMINGU V RAYSWASPSWATER FIGHTSWATERMELON

With the summer hitting us early this year…Hears a crossword preparing you to face the hot sun…

Summer Find and circle all of the summer words that are hidden in thegrid. The remaining letters spell an additional summer item.

Humor, At its Best….Humor, At its Best….Human : What is a century like to you?

God : It is like s second.

Human : What is billion dollars like to you?

God : Like a penny.

Human : Can i have a penny?

God : Sure, just wait for a second..

Teacher : What are some products of the

West Indies?

Student : I don't know.

Teacher : Of course, you do. Where do

you get sugar from?

Student : We borrow it from our

neighbour.

Wife : Dear, can we have dinner now?

Husband : Ok, what are my choices?

Wife : Dear, You you choose between

Yes or No!

Man : I could go to the end of the world for

you.

Woman : Yes, but would you stay there?

Man : I offer you myself.

Woman : I am sorry I never accept cheap

gifts.

Man : I want to share everything with you.

Woman : Let's start from your bank

account.

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1 3 6 8 7

9 2 4 6 5

3 8 6 4 9

6 1 8 9 2 5 3

2 9 4 6 1

4 1 8 5 3

2 7 1 9 6

9 7 5 6 2 8 4 1

3

2 5 9 4

8 7 1 3

7 1 5 2

4 7

5 3 7 8

6 9 2 7

3 8 4 5

3

Solu

tion

BR

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3

2 5 9 4

317

1 5

3 7

2

7

8

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3 8

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7

For Comments & Suggestions, Contact Us:

Speed Remit Worldwide editor@speedremit.com

info@speedremit.com

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