SGV celebrated its 65th year anniversary last July 21, 2011 at The Rizal Ballroom, Shangri La Hotel, Makati. Former members of the SGV Company together with Omega BCI’s Founder and President, Mr. Manny Masangkay joined the celebration.


Mr. Masangkay was a part of this prestigious auditing firm from 1984 to 1989. He had a privilege to audit banks, lending institutions, schools, hotels and manufacturing and almost all major industries locally and globally based. His 5 years working experience at SGV contributed a lot to his knowledge in accounting and auditing. SGV is rooted in the values of integrity and exemplary stewardship, handed down by the people who worked hard for its growth. These are the same ideals that we value at Omega Business Consulting Inc.

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CAMARINES SUR, Philippines – Omega BCI's very own Mr. Dennis M. Hilario succeeded in his race for Philippine Ironman 70.3 in Camarines Sur last August 14, 2011, crossing the finish line with pride and passion for excellence.

Thousands of triathletes from all over the country, as well as numerous foreigners, competed in the 2011 Ironman competition. The triathletes participated in the 1.2-mile swim, 56-mile bike and 13.1-mile run.

At 6:15 AM a crisp bang from the starting gun signaled the start of the race. Thousands of zealous participants dove into the dark waters of Lago Del Ray. And the race is on!


Dennis M. Hilario shared his experience:

"Ironman is a test of resilience, will, endurance and faith. if you don't have those, it will be difficult for you to finish each course from 2KM swim, 90KM bike and 21KM run. That also applies to our everyday lives in reaching our dreams and meeting challenges. Many thanks to everyone who supported me on this endeavor. It was such a great experience from day one."



"We would like to congratulate our dear General Manager for his achievement! It just shows how truly passionate you are on every endeavor! We are proud of you!!!" From your Omega BCI Family

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Davao City, July 2011--- Mr. Manny Masangkay, President and Managing Director of Omega BCI, received an International Award last July 23, 2011 given by his Alma Mater, University of Mindanao, recognizing successful alumni as part of their celebration of its 65th Founding Anniversary.


This award has been given to him in recognition of his unparalleled record as a practicing Accountant, Entrepreneur, and Economist which exemplifies the type and quality of educational leadership and professional integrity that the University of Mindanao inculcates in its graduates. He was also recognized for sharing his expertise with the Government of Papua New Guinea.


Here are some thoughts shared by Mr. Masangkay during the ceremony:
"Three months before high school graduation at UE Manila I was advised to stop coming to school coz I had TB due to poor health, an aftermath of poverty.

Our single parent Nanay sent me to Davao to recover from such illness. I finally got my high school diploma the following year and completed accounting degree four years after at the University of Mindanao (UM).   

I went back to Manila to take up review classes for the CPA board licensure exam. My nerve almost conceded with the pressure during the first few months of the review. It was to me more of a first time learning than a review. Blaming UM for my weak accounting basic was an easy excuse that time but deep inside I knew I was all responsible for my own future.

SGV for 5 years

The first time I walked in to this famous auditing firm to apply for a job, I was bluntly asked if I was a graduate of Ateneo, La Salle or UP Diliman.  I replied no and humbly requested to be given the chance to take the admission test. Thank God I made it.

During the orientation, I was in the same room with all my batch mates of 80 newly certified CPAs. The board exam’s top 20 were in the same room. How I ended up in that same room was a welcome blessing. The lone UMian in the batch.

Admittedly the pay was not as rewarding as the training and exposures I gained. I was privileged to audit banks, lending institutions, schools, hotels and manufacturing and almost all major industries locally and globally based.

Papua New Guinea

After five years with SGV, I went to Papua New Guinea for my international exposures. Nakapagtrabaho ng limang taon sa Coca-Cola kung saan nahasa ang aking skills sa cost accounting ng manufacturing industry.

In 1998, I registered Omega Business Consultants Ltd mainly engaged in  accounting, audit, taxation at project consulting.

Three years after, kasama ang mga pamangkin nang inirehistro sa Pilipinas ang sariling software development company, Omega Business Consulting Inc. Makalipas ang apat na taon nabuo ang unang version ng sariling productong pinoy ang -

Omega Financial Suite (OFS) – Filipino’s first BIR accredited web-enabled accounting & auditing integrated software.

OMEGA FINANCIAL SUITE BECOMES THE SEED WE DREAM TO SOW.

Attempts to offer several business colleges and universities in PNG to use our software for students’ hands-on training failed to draw interests.

But UM, my alma mater shared the vision and took us on board. Thanks to Dean Ester, Ma’am Guyang and President Torres.  Today,  average students like me who wish to pursue accounting but financially constrained can now get better chance to pursue a dream through Omega Scholarship. This school year 2011-2012,  we now have a total of 15 Omega scholars since we signed up the MOU with UM three years ago.

We will continue to do the best we can to increase this number. How?

Omega is an accounting & auditing integrated software programmed in JAVA language. This same language used in online services such as internet banking, online buying in ebay and amazon, etc. My team is also skilled in Php, VB programming. I hope to emulate the same arrangement with our  UM’s computer science department. We are keen to see Omega scholars in Computer science or IT too. We look forward to the day for this type of arrangement to be replicated worldwide.

NEXT STEP

Our vision is real-time financial accountability for all. We designed Omega to be user friendly even to non accountants. We desire to make this software available to everyone who handles money matters. Encoding your “money in and out” transactions  is as simple as filling in the blanks provided by our software. Omega will then take care of the rest of the bookkeeping processes and the generation of the financial statements.

I am pleased to report that In line with this passion, we are now launching www.ishareninspire.com

Here’s the deal:

For sharing 1 dollar a month, you secure the license to create and use your own personalised accounting software. Accessible all the time even from your mobile phones. For security and confidentiality concern, registered users can create a coded username.

15 cents of your 1 dollar goes to software maintenance, then share the rest of your 85 cents to your chosen charity or project listed on the website. Should you desire to share more than the 85 cents, 100% of that extra will go straight to your charity.

The way it works is very much similar to some popular social networking sites which many of you are probably already engaged.  But he main content in this website is making Omega Financial Suite available for the donors’ personal use and for the charity institutions as they will be required to post their financial statement for exclusive viewing by its donors.  

For the member user/donor’s  standpoint: 

He/She shares one dollar and gets the software license, and then shares to charity.

For the charity or donation recipient’s viewpoint:

Regularly posts project plans with complete details, receives 85 cents and manages the project then reports back to the its donor by posting to the website its progress report, budget versus actual variance report and operational reports (in videos, financial and non financial report formats).

Sharing what we have and inspiring accountability and transparency is what this whole website is all about.

Imagine the impact of this bayanihan on Cooperatives, small business owners, farmers, sidewalk vendors, tindera, taxi drivers, students, lawyers, teachers, families and nations around the world.

 Jesus Christ modelled this sharing with His own life. I am a recipient of His grace and in return I desire to be a blessing to Him by being a blessing to others. He is my personal Lord and Savior to Whom I give all the glory. Thank you Lord!

I congratulate UM for its 65^th Anniversary, the Alumni committee on its 24^th Alumni and the BSC and BSA organizing committee on the overwhelming success of this year’s Alumni. I am humbled by this award and inspired to do the best I can in the future. I accept this award on behalf of my team from Omega headed by Dennis Hilario, my nephew.

Finally, I share this award with my wife Claire, our twins Josiah and CJ who are yet to be borne in September or October this year. God bless us all!"

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Omega BCI enters a new engagement with Enable Hospitality Inc.  a tourism and hospitality business strategist  management and consulting firm for and by Filipino which core services focus on hotel and restaurant management, training and development, business consulting and hospitality designs.

Enable Hospitality Inc. headed by Mr. Pat Favoreal sign up for Omega Financial Suite Accounting Premium to be implemented to two new hotels namely Azalea Baguio Residences and Hotel Centro, situated in Baguio and Palawan respectively as its pilot projects.

One of Omega BCI’s strategies is to position its products in a vertical industry niche such as  Hotels and Hospitality Industry and EHI’s expertise together with Omega BCI’s shall bring a complete solution for their needs.

As part of this new engagement, EHI with their CPA’s will also assist Omega BCI in product implementations and user trainings.

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Omega Business Consulting Inc. is proud to announce new engagements with Casas Architects,  a frontrunner in the architectural industry specializing in diversified projects ranging from Commercial, Residential, Institutional and Entertainment complexes. Some of their recent projects are: The Icon, The Bellagio 2 and 3 in Taguig, ,KPMG building in Makati, NECC and maxims in Pasay, Eastwood Mall in Quezon City, UST Sports Complex in Manila and many others.

Casas architects, sign up for the IT Support and Software Development of Time Accounting System that will assist management in its continuing efforts of improving the effectiveness and efficiency of Casas’ organization.

With Omega BCI’s technical expertise, Casas Architect’s will now have the confidence in executing their IT and Information System needs.  While the time accounting system, the organization will be able to monitor their cost and help them generating quick P&L reports per project.

“We’ve been Casas Architect’s long-time partner as a user of Omega Financial Suite and we’ve been doing IT consultancy ever since.  The two new projects will enable them to focus on their core competence and eliminate the time and efforts they spend in administrative tasks.”  Dennis Hilario said, Director for Client Services.

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Omega BCI welcomes the month of July with two new clients namely Asia Pacific Energy Corporation for Inventory Module and Grandview Hotel for Accounting/Inventory. Both are located in Angeles, Pampanga.

Asia Pacific Energy Corporation (APEC), a 50MW Coal Fired Cogeneration Power Plant. It supplies electricity and steam requirements of all companies inside the economic zone and sell the excess electricity to off-takers outside. It has been operating since June 2006.   APEC has been a user of OFS Accounting Module since 2007 and because they have proved the system’s usability, they have decided to activate the inventory module for them to monitor their materials from receiving to issuance.

Grandview Hotel is at the tail end of its construction to be in operation this July.  Because of management’s keenness to providing excellent hospitality services, they have opted to implement OFS Accounting and Inventory module.

Both projects target to produce results by the end of the month.

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Makati, June 28, 2011- Omega Business Consulting Inc., the leading provider of accounting system and other business solutions in the Philippines announced its partnership with Global Healthcare System, Ltd., one of the global beacons of information technology for healthcare industry, providing clients with premium quality information systems. Through this strategic alliance, GHSL is now uniquely positioned to offer complete solutions to its clients, the healthcare information system and the accounting system. The partnership also adds significantly to Omega BCI service offering together with its other front end solutions.

Dennis M. Hilario, Director for Client Services, Omega BCI, said: “We are excited about this new partnership with GHSL. Web-Enabled Hospital Information System (WebHIS) and other GHSL’s solutions integrated with our Omega Financial Suite will surely assist clients (in the healthcare industry) reach their goals by providing seamless business flows and transactions to their clientele. I would like to thank Mr. William Ching, the General Manager of GHSL for the trust and support to Omega BCI and our services.”

About GHSL

Global Healthcare Systems Ltd. (GHSL) provides clients with premium quality software solutions, fully customized to fit specific client needs and business transactions. State-of-the-art resources are utilized to devlop our line of products such as industrial benchmarks such as Java and MySQL. Our solutions are complete and comprehensive since we make it a point to thoroughly consider every aspect of our clients' business flows and transactions so that every part of an organization can be seamlessly integrated and organzational processes may be optimized. 

GHSL is here to ensure the continuing growth of technological quality. 

PRODUCTS OFFERED:

Web-Enabled Hospital Information System 

A fully-integrated, single solution information system, with a range of application modules that automate the administrative, inventory, billing and clinical processes that can assist your hospital in saving time and money and increase efficency and output. WebHIS has been developed with the objective streamlining the treatment flow of a patient within the hospital, while allowing doctors and other hospital staff to perform in their peak abilities in an optimized manner. it is modeled from a unique combination of a patient and medical centric paradigm, beneficial to both recipients and providers of healthcare. 

All WebHIS data is stored in a single database providing real time data across applications throughout the hospital. It also helps as a decision support system for the hospital authorities in developing comprehensive healthcare policies.

 WebHIS is here to address the the growing organizational demands of hospitals. As a fully-integrated application, WebHIS has modules that provide configurable solutions that cover the entire healthcare and financial spectrum. WebHIS is a powerful and flexible system the optimizes both medical and business processes of a hospital. It is designed using state-of-the-art programming technologies and utilizes up-to-date hardware configurations. 

Web-Enabled Clinic Information System 

A solution that provides clinical information wherever and whenever a user needs it. WebClinic utilizes few resources without cutting back the quality of a clinic's patient care. The system is also guaranteed to feed valuable and accurate information for efficient medical decision-making. WebClinic also aids in a clinic's expense reduction efforts because it minimizes erroneous record-keeping and other human-related errors in clinical transactions.  Aids in handling the dynamic nature of patient information resulting in accurate diagnostic decisions. WebClinic also has a hand in organizing clinic appointments and other scheduled activities. 

Personal Health e-Chart 

An electronic patient medical record that is not limited to internal hospital or clinic record-keeping, but is accessible to a user with internet access. The e-Chart keeps medical records that include patient medical histories, examinations taken and basic patient medical complaints. PHe also allows a user to monitor not only his/her own chart but also those of his/her dependents. Prevention is better than any cure, and the Personal Health e-Chart encourages users to be responsible in monitoring their own personal health status. 

The Personal Health e-Chart provides users with accurate record-keeping, convenient coordination with medical institutions, and portability. This system is secure since the user, authorized personnel and physicians are the only ones with access to a particular account. 

For more information about GHSL, visit their website: http://ghsl.com.hk/index.html.

Learn more about Omega BCI’s products and services: Accounting System Philippines

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"Today, maintaining the right inventory levels is a tough challenge. If not properly managed, your inventory can result in a significant expense. Looking over your shoulder is the lender who is concerned about the cost of carrying too much inventory - which can affect profitability. Fortunately, there are management information systems that exist which use microcomputers and a variety of industry specific software. The cost of carrying inventory today has become a major expenditure and requires immediate attention. The benefits of inventory control far outweigh the costs. Any reduction in inventories, whether it is raw material, work-in-process, finished goods or supplies, can have a dramatic impact on your bottom line. Industry averages suggest that a 20 percent reduction in inventory is achievable with a computerized inventory control system. For a company with a yearly sales volume of $1 million, such a reduction would result in savings of $14,400 per year and would free up $48,000 of new dollars for reinvestment. For a company with a yearly sales volume of $10 million, the figures are proportionately higher: $144,000 per year in savings and $480,000 in new dollars for reinvestment. A computerized inventory control system can also help a company with new inventory management techniques such as Just-in-time (‘JIT’). Such techniques cut the use of company resources such as warehousing, equipment and personnel. However, these techniques require error-free environments and better control over inventory since the buffer zone to compensate for the errors is less. How do you go about selecting a computerized inventory control system. First, such a system should be bought rather than developed in-house. With the purchase of an already available software package, you can focus on getting the benefits of the system immediately rather than waiting until the development and debugging is completed. Also, the documentation and training materials will generally be available immediately when a software package is purchased. Buying a software package is not easy, considering that there are many choices available in the marketplace today. When choosing a package, consider: ease of installation and operation, ease of use, vendor reputation, local troubleshooting and consulting support, quality and availability of end-user documentation and education programs. What can you expect a computerized inventory control system to do once it is in use? The package should be capable of certain key functions. The system should allow for reporting and tracking all items of inventory within a company. In the case of a manufacturing company, this includes the raw material, sub-assemblies and other work-in-progress, finished goods, tools and supplies. In particular, the system should: Maintain an item master file for the company. This file keeps all pertinent information on each item to be controlled: part number and description, detailed information such as preferred and actual locations and shipping weight, reorder point and recommended reorder quantity and cost information such as standard cost, actual cost and sales price. Process the inventory within the company. Such activity includes the material issues, receipts, shipments, transfers, returns, rejections, inspections and scrap. The system should enable the transactions to be processed online, with immediate updates. The system should also provide the capability to track inventory levels and activity for multiple locations within the company. Facilitate purchasing. The system should provide reports of items at reorder points in case of companies not using material requirement planning ("MRP") systems. The order point calculation should be based on the prior use of items. Automatic computation of these numbers greatly helps in inventory control personnel. Provide adequate online inquiry and management reporting capabilities. The system should provide online inquiry into the stock status by different locations, inventory value by different location and descriptive information for each item. The information should be obtainable on the screen from different computer terminal locations. The system should be capable of generating numerous operational and management reports. These might include: Stock status report Inventory movement report Recommended purchases report Parts history report A computerized inventory control system can be a big asset to a company, whether large, medium or small. These systems can help the management in controlling the inventories of the company to cut significant costs and have a dramatic impact on the financial bottom line of the company. Such a system should be purchased from software package vendors and customized to the company’s needs, if necessary. There are many packages available in the software market today. However, care should be exercised in choosing the package since the customizing and implementation costs for the company could be very high if the wrong package is chosen. The cost of implementing the system goes far beyond the cost of the software package itself. The effort and time could be as high as five to 10 times the cost of the package. But the benefits of the system would still far outweigh the costs for a typical company. "

 Computerization is the key to maintaining proper inventory levels

 Corporate Detroit  By Donald Reimer, CMC & Ravi Nayar, CMC

Omega Business Consulting Inc. offers Inventory System and other front-end solutions. For more info, visit us at Inventory System Philippines.

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I was asked by one of my colleagues, "whats the ideal biz dev mgr for you?" 
I replied, "wait one, i will draft a blog and will notify you when ready.."ü

A Biz Dev Manager, Marketing Mgr or whatever you wanna call it is a very important role in any organization.

1. Let's discuss the basics, 4Ps of marketing
a.Product - understanding the market needs and being able to innovate, define the product, it's use,benefits and features
b. Pricing - understanding the price, gross profit, and competition
c. Packaging - with right mix of branding and packaging, a biz dev mgr can really reach organizational goals
d. Promotion - by executing traditional advertising, utilize the Internet, social media, and right networking.

2. Being able to define and execute social media and Internet marketing business plan.
3. Being able to analyze the competition and position the product correctly minimize if not eliminate the competition.
4. Being able to manage the sales people, prioritize prospective clients, find innovative ways to acquire leads.
5. Being able to meet sales targets and objectives.
6. Have a basic understanding of accounting, profit & loss and other financial reports. Being able to identify profit centers and maximize the performers. 
7. Most of all being able to win the war AND the battle. To me, it's the ability to establish a win-win situation for all the the stakeholders, from the client, employees and the organization.
                                                                                                                          
                                                                                                                          Dennis M. Hilario
                                                                                                                          Client Services, Omega BCI

                                                                                                                          

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Omega Business Consulting Inc, is proud to announce the addition of another new client to our distinguished client list. Supercare Medical Services Inc.(SMSI), a seafarer's clinic authorized to perform pre-employment medical examinations and issue medical clearances to seafarers and overseas contract workers by the Department of Health (DOH), Philippine Overseas Employment Administration (POEA) and Maritime Industry Authority (MARINA), with commendation Quality Standards System and an ISO 9001:2000 certified Quality Management System, sign up for Omega Financial Suite- Premium Accounting.

“We are pleased that Supercare Medical services Inc. choose Omega Financial Suite as their new accounting system. From bookkeeping, monitoring of finances, inventory, creating invoices to generating reports, let our accounting system do the job for you! We keep our promise to simplify every business process.” –Dennis Hilario, Omega BCI Client Services.

Omega Financial Suite- Premium Accounting package includes, general ledger, accounts receivable, accounts payable, iReport training, inventory and integration to clinic management system.

About Supercare Medical Services Inc.(SMSI)

SMSI customize health screening to the needs of their clients as the demands and conditions of the working environment differ. Their medical examination packages are designed to meet the health requirements of cruise lines and passenger vessels for their hotel and restuarant crew, bulk carriers and tankers for their technical crew, as well as host countries and overseas employers for their land based workers. SMSI clinic's most important objectives are, to ensure that ship-owners employ a physically and psychologically able manpower, to help manning agencies facilitate deployment by expiditious pre-employment medical examinations and promote and maintain good health among Filipino sailors. Their clinic is located at Suite 315 VELCO Center, R.S. Oca Cor. A.C. Delgado Streets, Port Area, Manila, Philippines 1018. For more info about their services visit their website at  http://www.supercareinc.com.

Want to learn more about OFS Premium Accounting? Visit our website at Accounting System Philippines.

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We found this guide in starting up a small business and we want to share it with you. These guidelines were written with a US setting in mind but can also be applicable in the Philippine setting.  At Omega BCI, we help businesses grow, starters, small-medium enterprise. Take time to review this guidelines, this will surely help.

Take us with you as you start your new business! Watch out for Accounting System Philippines Online and run your business like a Pro!

“Setting up a business entails completing certain steps and following particular requirements. Some requirements are mandated by state or federal regulations and others are essential to the formation of a business. There are many resources available for potential business owners attempting to establish a fully operational business, such as websites designed to help new business owners and local government offices.

Industry Research

There are a variety of business opportunities in many industries. A business opportunity begins with a concept, and a potential business owner must study the industry to determine her niche in that market. Researching the industry also gives an aspiring business owner an understanding of how her business concept connects to the market. As technology continues to change, marketing strategies will change and staying abreast of industry changes helps a business owner remain competitive.

Business Structure

Establishing the business structure is an important step when starting a business. Many small businesses begin as a sole proprietorship, some start as a partnership while other business owners may decide to incorporate. A partnership begins when two or more individuals agree to enter into a business for profit. To establish a corporation, a business needs to create a charter and file it with the secretary of state.

Business Plan

The business plan is the overall outline of the business, and it essentially specifies the description of the business, products and services and business strategies. This plan also details the executive summary and the financial analysis. There are many websites that provide helpful tips about how to structure and implement a business plan, such as bplans.com and entrepreneur.com.

Start-up Expenses

Every business requires start-up expenses, which may be low or high depending on the business. For instance, the start-up expenses for a home-based business may require less capital than the expenses for the purchase or lease of a commercial structure. In general, most start-up expenses include utilities, office space, communication systems and office equipment. In addition, some businesses require licenses, permits and business insurance.

Licenses and Permits

Federal or state licenses and permits are required to legally operate some businesses. The Small Business Administration (sba.gov) provides information regarding the prerequisite government licenses and permits for businesses. Other sources for local business regulation information can be found at the state and local level. Additionally, local government offices offer information on zoning laws and other restrictions for certain businesses and their locations.”

About the Author

Luciana Hobdy has been writing since 2002. As a legal and business writer, her articles appear on eHow and Answerbag. She also provides travel-related content for LIVESTRONG.COM. She has a Bachelor of Science in business administration from Wayne State University and a Juris Doctor from Thomas M. Cooley Law School.

References: Entrepreneur: Business Structure Basics. Bplans:A Standard Business Plan Outline, Small Business Administration: Get Licenses and Permits.

Learn more about our products and services, visit us Accounting System Philippines.

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     Does your accounting system promote superior efficiency to its users, additional productivity for your business or faster growth for your company? When you already know that your existing software is no longer satisfying your needs, it’s about time to replace your old system and take your business to a higher level.  
     
     Several accounting systems are available in the market; they are designed to help businesses of different levels. Choose a solution that is tailor-fit to your industry but before you begin looking for a replacement, have a vision of what accounting software is ideal for your company. You need to identify and know exactly what’s missing in your current system. Evaluate its performance from key in of information to reports generation. It would be easy to decide what level of integration you will need in your new solution when you put together a list of the features and capabilities you need.
     For many business owners, price is their primary decisive factor when replacing your current system. Make sure you allocate the right budget that will cover the software, implementation, customization and training.  Remember that functionality and efficiency may be far more significant than affordability. Once you’ve completed these internal reviews, it’s time to check potential vendors. Consider how long they have been in the business and their patrons. Make sure that they can demonstrate their methodologies in such a way that users will easily understand. It is important that an accounting system recognizes the unique demands of your business and will be ready to give you support in training users and for future growth.

To learn more, please visit System Implementation Guide Section on our website www.omegabci.com.

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