Why Corel Draw is not so good for printing: Things You must ensure before going to print

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Based on my past experiences in Graphic Designing, I would like to clear that why Corel Draw is not so good for printing in comparisons to Adobe Illustrator. The basic difference between the two graphic designing software is provided below:

·     CorelDraw software is user-friendly and has lesser learning curves, i.e. anybody can learn it, while Illustrator is regarded as matured software involving stiff learning curves.

·     CorelDraw software can be learned even from tutorials, but one needs proper training from a good graphic design institute for learning Illustrator.

·     Print preview in CorelDraw is not as good as Illustrator, Illustrator being a postscript file format, it renders more accurate print preview.

·     All versions of Adobe Illustrator run on PC and Mac, while the same is not the case with CorelDraw.

·     In some action CorelDraw is far smarter, simpler and easier than in Illustrator, but for print you must have CorelDraw x5 or latest version.

·     If you’re new to design and use windows, I recommend you to use Illustrator. It’s more of a professional program and will help you to learn to be a better designer.

Well! If you still have Corel Draw as the only option, then ensure to tick off the following checklist before proceeding for the print-

·     Always try to use simple effects and prefer flat colour tones

·     Remember after print your design, colour tone can be changed into a little bit dull and matt, so use slight bright clear tone.

·     Try to avoid shadows effect, small bold font and small compact designs.

·     Make your design compatible with Coral Draw (x3, x4, x5) version of print agency.

·     Ensure proper bleeding areaCut line and Safety Zone.

·     Ensure your outputted is at 300DPI.

·     Convert all text into outlines.

·     Ensure your CorelDraw file is in CMYK mode.

·      Save Your File as a PDF with Bleed and set bleed limit as 0.125.

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Social Media Detoxification and its Impact on Businesses

Social Media Detoxification and Its Impact on Businesses

Detoxification (popularly termed as Detox) means a time period during which a person abstains or refrains from using something that is toxic or harmful for us. Social Media is as much a bane, as it is a boon. Nowadays, studies show, social media addiction is more widespread than any other substance abuse. To deal with this, a new concept is slowly emerging and gathering widespread attention: Social Media Detoxification.

In simple terms, Social Media Detoxification refers to cutting off all social media interactions for a certain period of time, usually one to three months. Social Media Detoxification serves as a reaction to information overload, which is a result of new media and digital connecting devices. Constant usage of digital connecting devices at the work place has been observed to result in increased stress levels and reduce productivity. That being said, social media is a vital platform for businesses to grow and prosper in the cut throat competition prevailing today.

Social networks are one of the fastest growing industries in the world. Having a social media presence, accompanied by an appropriate strategy and plan, can be highly beneficial to the business. Hence, as much as Social Media Detoxification is beneficial for the users, it has an adverse impact on the businesses which rely on social media for their success.

Impact of Social Media Detoxification on the Business

Reduced Audience and Brand Awareness

Due to Social Media Detoxification, the audience available to the business significantly diminishes. Social media is one of the most efficient marketing methods to syndicate content and increase business visibility. Reduction in audience due to adoption of Social Media Detoxification results in diminution of brand awareness.

Difficult to Gain Customer Insight

Social media generates a large amount of data about customers in real time. Every day, there are approximately 500 million tweets, 4.5 billion likes on Facebook and 95 million photos and videos posted on Instagram. Behind these astonishing numbers, is a plethora of information about customers- who they are, what do they like etc. Social Media Detoxification results in loss of this insight and makes it harder for the business to understand what its customers want and how to serve them better.

Diminished Website Traffic and Search Ranking

One of the most significant benefits of social media for a business is assistance in increasing their website traffic. Apart from helping in directing people to a particular website, social media also aids in achieving an elevated search ranking. Social Media Detoxification has a negative impact on the website traffic as well as search engine ranking of a business.

Inconvenience in Sharing Content with the Masses

Social Media is one of the fastest and most cost efficient ways to market a business. The various social media platforms facilitate dispensing of information, about a product or service, to the public. It also exposes the business to new eyes and with one touch, a multitude of people can learn about the business. Social Media Detoxification makes it gruelling for the business to increase the awareness of the masses, about its products and services.

Decrease in Sales

Social Media has proven to be a very effective tool for the sales team, in any business. B2B companies use platforms like LinkedIn to reach out to their customers directly, while B2C companies can use the likes of Twitter or Facebook to increase their exposure. Having a social media presence, allows the customer to understand a brand, giving it more chances to gain business and popularity. Due to Social Media Detoxification, the businesses cannot directly interact with their customers and these results in a downfall in the sales of the business.

This is an emerging problem for the Digital Media Marketers today. If not dealt with properly, it can have a negative effect on the business. At 3rd Eye Advisory, we focus on spreading awareness about a brand, increasing its popularity as well as tackling problems that arise due to unfavourable conditions or trends on various social media platforms, by following a modern marketing approach. We believe in providing an air tight marketing strategy so as to obtain best possible results.  For a solution to overcome this problem effectively #ask3rdEyeAdvisory. 3rd Eye Advisory aims at providing result-oriented cutting edge solutions to its clients.

 

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Franchise Model in Jewellery Industry

“Franchise Model should be such that helps even a low budget investor to be a part of Jewellery Brand”

Gems & Jewellery Sector:

Franchise Model in Jewellery IndustryIntroduction:

The Gems and Jewellery sector plays a significant role in the Indian economy, contributing around 6-7 per cent of the country’s GDP. One of the fastest growing sectors, it is extremely export oriented and labour intensive. The Government has recently undertaken various measures to promote investments and to upgrade technology and skills to promote ‘Brand India’ in the international market.

Government Initiatives:

  1. In the Union Budget 2017-18, the Government of India, offered tax cuts for the middle class and other sections of society (5 per cent for the Rs 250,000-500,000 tax slab; which was 10 per cent initially). All these measures will drive consumption, which will be favourable to the gems and jewellery industry.
  2. The demonetisation move is encouraging people to use plastic money, debit/ credit cards for buying jewellery. This is good for the industry in the long run and will create more transparency.

3.    Due to shortage of skilled manpower, the Gems and Jewellery Skill Council of India is planning to train over four million people till 2022. The council aims to train, skill and enhance 4.07 million people by 2022.

Road Ahead:

In the coming years, growth in Gems and Jewellery sector would be largely contributed by the development of large retailers/brands. Established brands are guiding the organised market and are opening opportunities to grow.

Increasing penetration in the market is possible by adopting a Franchise Model

Franchising:

The process of franchise development is one that requires a methodical approach and one of careful strategic planning along with targeted and professional marketing processes. The Franchisee has full access to franchisor’s comprehensive business format including brand, assortment and store concept according to which franchisee operate along with legal and financial.

Types of proposed Franchising Model:   

1.    Single-Unit Franchises: where a franchisee invests in the right to operate one location or branded business.

2.    Multi-Unit Franchise: where a franchisee invests in the right to operate in more than one location or branded business.

3.    Master Franchising: where in addition to having the right and obligation to open and operate a number of locations in a defined area, the master franchisee also has the right and the obligation to offer and sell franchises to other people looking to become franchisees of the system.

Benefits of Franchising:

1.    Attractive Business Model: The Franchise Model has been succeeded in satisfying the demands of hundreds of customers and have a lucrative business model.

2.    Proven Retail concept: A franchise is an independent entrepreneur and thus is responsible for performance, assortment, store appearance and staff.

3.    Support in day-to-day operations: The franchisor provide day to day operations support through in-house coaching, e-learning and guidelines.

4.    Appealing Store Design: The Franchisees can sell franchisor products in an attractive environment

Support areas: offered by Franchisor to Franchisees:

1.    Operational Support

2.    Visual merchandising

3.    Training (including all the areas like maintaining accounts, selling & marketing)

4.    Mystery Shopping which includes visiting of franchisees stores to have a control on how the franchisees run their business.

5.    Knowledge Sharing: to provide all franchisees knowledge about product development, trends and for this can arrange meetings & conferences.

6.    Marketing Materials: to provide marketing materials like PR campaigns, Digital communication, social media etc.

7.    Materials & Uniform (if any): All window displays, props, in store materials, logos will be provided by the franchisor.

Essential Franchisee Qualities:

1.    Retail experience with good results and proven track record

2.    Entrepreneurial mindset

3.    A passion for sales and for offering excellent customer service

4.    Energy and passion

5.    A willingness to develop and devoting full time efforts to the success of franchisor.

6.    Appreciation for the brand

7.    Solid financial foundation

Process for becoming Franchisee:

1.    Once the franchisee has been selected and agreement has been entered between franchisor and franchisee now the second step is store opening process and for that right location is to be identified. The best places to establish jewellery store are

·     High streets

·     Shopping malls

·     Markets having high customer footfalls

2.    The store should have a wide facade with space for an entrance, signage and at least one window display

3.    The store should be preferably rectangular in shape.

4.    There should be a designed modular system, which can be customised a bit to adjust store layouts

5.    The franchisor locates, negotiates and signs the leases for the stores and subleases the premises to franchisees.

Process for acceptance of Application by Franchisor:

Business Site Selection:

The best way to select a viable Business site

Multiply the grade to weight to determine point for each factor

Conclusion:

The opportunity in franchising in jewellery industry can be segregated as per the categories, from gold and diamond jewellery to silver jewellery to art jewellery. Govind V Raj, Vice President – Integrated Retail Services, Titan industries says, “It is a fragmented industry with over a million jewellery vendors.

Diamond jewellery store remains one of the most preferred franchised concepts followed by gold and silver jewellery. The ratio of the retail composition of company-owned stores and franchised outlets stands at 30:70 clearly spelling the success of franchising in the segment.

Most of the franchisors should offer complete guidance and support in operating the store to the franchisees. The investment in this sector is relatively higher than other retail franchise concepts, but the low risk and high returns are indicators that venturing into the jewellery business will be a profitable opportunity. Depending on location one can expect to recover initial capex between one to five years.

How 3rd Eye Advisory® can assists clients in establishing “The Best Franchise Model” ?

We at 3rd Eye Advisory® help clients to establish a viable Franchise Model wherein we provide the complete Business Model. We guide them that which franchise they can take as per the investment available with them as many clients have money but don’t know where to invest it. After selection of the franchise we help them to choose the location and all other operational help which they require.

Article by: CS.Richa Sharma, 3rd Eye Advisory®

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Network Firms

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A network firm is an entity that belongs to a network. A firm can be a sole practitioner, partnership or corporation of professional accountants or an entity that controls or is controlled by such parties. A network firm can be an entity which is a part of a larger structure that is aimed at co operation and which is

•          controlled by the firm

•          under common control, ownership or management

•          part of a larger structure clearly aimed at profit or cost sharing

•          otherwise affiliated or associated with the audit firm through common quality control policies and procedures, common business strategy, the use of a common name or through the sharing of significant common professional resources.

For an example, consider a multinational corporation, which is an association of 96 firms, operating in 96 different countries, established to provide global services to clients. Each firm is a member of this corporation, but is a separate and distinct legal entity. As a member, each firm agrees to common quality control policies and procedures designed by the corporation and which are implemented and monitored throughout the association. Each firm uses the standard name in marketing and promotional material as well as when signing assurance reports. There are many common clients within the association. In such a case, this corporation is a network comprised of all the 96 firms.

If there is an international association of firms, formed to provide global services to its clients, with each firm being a separate and distinct legal entity and under the profit sharing arrangement, 25% of the profit of each firm is pooled and redistributed to individual firms based on a predefined formula. In this case, the larger structure is clearly aimed at co-operation and profit sharing. Hence, it is a network.

Accounting networks and associations are professional services networks whose primary purpose is to provide its members with resources to aide and help the clients, globally and hence diminish the risk and unpredictability by bringing together a greater number of resources to work on a conflict. The networks and associations operate unaccompanied by its individual members. The largest accounting networks are known as the Big Four.

Deloitte is one of the “Big Four” accounting firms and the largest professional services network in the world by revenue and number of professionals. Deloitte provides audit, tax, consulting, enterprise risk and financial advisory services.

The Big Four are the four largest international professional services networks, offering various services such as audit, assurance, tax, consulting, advisory, actuarial, corporate finance, and legal services. They handle a lion’s share of audits for publicly traded companies as well as a number of private companies, creating a cartel of sorts, in auditing large companies.

KPMG, a professional service company, is one of the Big Four as well. With its head office situated in Amsterdam, the Netherlands, KPMG has three major lines of services: financial audit, tax, and advisory. Its tax and advisory services are further divided into various service groups.

EY (formerly known as Ernst &Young) is also a multinational professional services firm headquartered in London, United Kingdom. EY is termed as one of the largest professional services firm in the world and is one of the “Big Four” accounting firms. The organisation operates as a network of member firms which are separate legal entities in individual countries. It provides assurance (including financial audit), tax, consulting and advisory services to companies.

None of the Big Four firms is a single firm. On the contrary, they are professional services networks. Each of them is a network of firms, owned and managed solitarily. These firms have entered into accords with other member firms in the network to share a unified name, brand and quality standards. Each network has established an entity to collaborate the activities of the network.

Price Waterhouse Coopers (commonly known as PwC) is a multinational professional services network headquartered in London, United Kingdom. It is the second largest professional services firm in the world and is the fourth of the Big Four auditors.

In one case (KPMG), the co-ordinating entity is Swiss, and in three cases (Deloitte Touche Tohmatsu, PricewaterhouseCoopers and Ernst & Young) the co-ordinating entity is a UK limited company. Those entities do not themselves perform external professional services, and do not own or control the member firms. They are similar to law firm networks found in the legal profession. In many cases each member firm practises in a single country, and is structured to comply with the regulatory environment in that country.

These firms combine services performed by local firms, confined within their respective borders, but do not perform services or hold ownership in the local entities. This group was once known as the “Big Eight”. It was later reduced to the “Big Six” and then eventually to “Big Five” by a series of mergers and amalgamations. The Big Five became the Big Four after the demise of Arthur Andersen in 2002, following its involvement in the Enron scandal.

Technically, the Big 4 firms are not in facts “firms” at all. They are each a network of firms that agree to operate under the same name and general business terms. EY France is actually a completely separate entity to EY Singapore, which is completely separate again to EY South Africa. Each local firm is referred to as a member firm. In some cases the bigger local firms, such as those in the U.S., will strategically purchase other smaller firms. However, it is generally within their interest to stay as separate firms as far as possible. The primary reason for the collapse of Arthur Andersen was due to the fact that, unlike the other Big Five, it was one global firm.

Accounting networks, today, are facing a new obstacle that fundamentally tarnishes the image that the firms wish to project to its clients. The common notion has been that the Big 4, Grant Thornton and BDO are single entities that perform services globally, for clients of this single entity. As a result of court cases, this has introduced consequential secondary liability issues, compelling the networks to detach themselves from the impression of being a single entity. The Parmalat case is the best illustration of the issues.

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Using data and technology to improve healthcare ecosystem

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The healthcare industries are facing drastic changes or witnessing a fundamental transformation from being a volume-based business to an outcome based business. There is a dire need of understanding the evolving role of analytics in healthcare which is playing a vital role in improving patients’ health. Traditional methods are no longer useful in releasing the appropriate information about patients’ behaviour, sentiments and in evaluating the most effective treatment for a particular disease. The cost dynamics of the industry are also changing with the improved longevity of people, higher number of patients with chronic illness, and increase in geriatric population. At the same time, the industry has been lagging behind the others in adopting technology- enabled process improvements. The nature of the healthcare industry itself also creates challenges: while there are many players, there is no way to easily share data among different providers or facilities, partly because of privacy concerns and even within a single hospital, payor, or pharmaceutical company, important information often remains within one group or department because organizations lack procedures for integrating data and communicating findings.

Technological advances:

According to Gartner, healthcare analytics is a rapidly emerging phenomenon with huge future potential. The traditional obstacles of compiling, storing, and sharing information securely are overcoming through technologic advances. In addition to facilitating longitudinal studies and other research, technological advances have made it easier to “clean” data and preserve patient privacy.

The new programs can readily remove names and other personal information from records being transported into large databases, complying with all Health Insurance Portability and Accountability Act (HIPAA) patient- confidentiality standards. Some computer systems can even examine information across all data pools- an important feature since there are special combinations that can provide more insights than any individual data set. For example, claims data may show that a patient has tried three treatments for cancer, but only the clinical data show us which treatment was effective in shrinking the tumour. As another example, personal behaviour information may show that a patient is taking fewer trips outside the house or looking up information on side effects online, both of which could suggest physical problems or be early indicators of an illness requiring early intervention to prevent a more serious medical episode. But only clinical data will confirm whether the behaviours were truly linked to illness.

Impact of big data on the healthcare system:

Big data is characterised by large volumes of high velocity, complex and variable data that require advanced techniques and technologies to enable the capture, storage, distribution, management and analysis of the information. Analytical techniques can be applied to the vast amount of existing medical data to evaluate a deeper understanding of outcomes. Individual and population data would help each physician and his/her patient during the decision-making process and help determine the most appropriate treatment option for that particular patient.

Big data analytics is evolving into promising fields for providing insights from very large data sets and improving outcomes while reducing costs. It has transformed the discussion of what is appropriate or right for a patient and for the healthcare ecosystems. In keeping with these changes, a holistic patient centred framework is generated that considers five key pathways to value, based on the concept that value is derived from the balance of the healthcare spend and patient impact (outcomes).

The 4 “Vs” of big data analytics in healthcare:

The analytics associated with big data is described by three primary characteristics i.e. Volume, Velocity, Variety and Veracity (introduced by practitioners).

The already daunting volume of existing healthcare data includes personal medical records, radiology images, clinical trial data and population data genomic sequences, etc. Newer forms of big data such as 3D imaging, genomics are also initiating the exponential growth. The enormous variety of data- structured, unstructured and semi-structured is a dimension that makes healthcare data both interesting and challenging. Advances in data management, virtualization and cloud computing are facilitating the development of platforms for more effective capture, storage and manipulation of large volume of data. Data is accumulated in real-time and at a rapid pace or velocity.

Some practitioners and researchers have introduced a fourth characteristics, veracity, or ‘data assurance’. Data quality issues are of acute concern in healthcare for two reasons: life or death decisions depend on having accurate information, and the quality of healthcare data (unstructured data) is highly variable and often incorrect.

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Datasets that exist within the healthcare ecosystem:

·     Pharmaceutical/ device companies, contract research organizations, drug research organizations

·     Healthcare provider clinical data (hospitals, physician practices, laboratories, etc.)

·     Patients behaviour and sentiment data

 The healthcare big data business cases that have seen tangible results:

·     Traditionally, physicians used to practice the event-based medicine and apply the same sequence of tests to all patients who admitted into the emergency departments with the similar symptoms. This can be considered as efficient but it is rarely effective.

·     Detailed analysis of patient data helps caregivers take an evidence-based approach to medicine.

·     Physician can understand patient hereditary genotype for effectively managing the disease.

·     By analysing detailed imaging tests, and case histories, physicians are able to extrapolate the likely course of the disease’s progression.

·     Study the use of medications in very large populations to determine the efficacy and the adverse effects of the drug.

·     Fraud analytics with the power of using predictive modelling and business rules to score claims based on a number of known risk factors. This helps reduce the claims settlement time.
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The most important part of analytics is managing and utilizing data. The healthcare industry is gathering information along with the rise of medical imaging technology (images), digital multimedia (video, audio) and the real time data to monitor data vital. Social media is enabling communication between patients, providers, and communities which is potentially becoming an important source for Big Data and thus improving healthcare ecosystem.

Big Data in healthcare is poised to change the ecosystem. While it is still early in the game, there are many ways by which Big Data is currently being leveraged to create value across healthcare. Nowadays, we can easily access the diverse medical data in various healthcare organizations (payers, providers, pharmaceuticals, and regulatory). In the coming time, with the advancement of newer models of analytics and more strategic data collaboration between healthcare organizations, patients will be able to see reduced cost for better care and visibility to a variety of healthcare information.

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What Do We Mean by Free Website?

What Do We Mean by Free Website

Most beginners who want to start their own website want to keep the cost low which is understandable. So you typically Google the term free website and find many companies offering free website hosting services for free. The thought of having free web hosting and building your site without paying anything is tempting. Until you get a reality check. Once you sign up to these so-called “free website services”, you slowly start discovering the limitations and many of them turn out to be not free at all. If you or your friend is thinking about getting a free website, then stop now.

Read these reasons why free websites are almost always a bad idea-

1. There are no backups

There is no concept of regular backups on these free websites. They do not backup your data and if something bad happens to your site, there is no way for you to restore your data.

2. Irrelevant Advertisements on your Website

Most of these free website services are supported by advertisements. You create content and build your website, but they get paid for the ads. Often these ads are distracting, intrusive, and look ugly. The worst part is, sometimes your savvy competitors can then pay these free website hosting companies to advertise on your website that might sabotage your business.

3. Malware Distribution

Free website services are notorious for distributing malware. This could be due to their poor security, or they could be doing it for monetary benefits. In either case, it hurts your website’s reputation and SEO.

4. Limited bandwidth

Bandwidth is the amount of data transferred from server to user browser. It costs money and most free websites come with a very limited bandwidth caps.

5. Low disk storage

Free website companies host hundreds of websites sharing same server and hard disks. They usually give you very limited storage to store your data. When you reach that limit, you are often asked to pay for more storage.

6. Vulnerable to hacking attempts

Due to poor security, free websites are often more vulnerable to hacking attempts. If your site is hacked, it will be a lot more difficult to get it recovered because these companies give you very limited access to your own files and data.

7. Low credibility among your users

When your site is hosted on a free service, your users will feel less inclined to trust it. If users are not comfortable sharing their information, then it will kill the whole purpose of you creating a website.

8. Limited design choices

Unlike a self-hosted WordPress site where you can choose from thousands of WordPress themes, free websites offer only a handful of poorly designed templates. You cannot use your own designs or use any other design from the web.

9. No help or customer service

These free websites offer no help to users. You will have to setup your site on your own with the help of very limited and poorly presented documentation. You are pretty much on your own if you can’t figure it out.

10. Extremely slow websites

Most free website hosting providers put hundreds of websites sharing the same server. This makes all their websites load at very low speeds. Slow websites create bad user experience and are bad for SEO.

11. Unprofessional web address

Having a website address like mysmallbusiness.freewebsite.com does not look professional at all. Visitors to your website and potential customers would find it quite difficult to take your website seriously when you don’t even have a proper domain name.

And when you ask these companies for a custom domain, you usually have to pay a premium – something like $19 – $25 for a domain which normally costs $10.

12. Hidden charges for free website

Like any other business, these free website companies need to make money too. Some of them charge their users for additional services like image hosting, email accounts, FTP access, website transfer, etc. These charges are often outrageously high.

13. They can lock down your data

Many users who start with a free website and then want to move to a paid service, find it impossible to move their website data. These service providers do not offer any tools to easily migrate your site. Users end up paying freelancers to manually export their content which can quickly increase your bill.

14. You will lose your site address

If they decide to close the service or shutdown your website, then you will loose your web address. Most of the time it is a sub-domain associated with the service. You cannot replicate that address or redirect users to your new site elsewhere.

15. They can sell your information

Remember that these services need to make money somehow to remain in the business. A good rule of thumb is if you are not paying for it, then you are the product.

These companies find other ways to make money such as selling your email address, personal information, and your website address to other companies. Their terms and conditions which no one really reads provide them total legal immunity.

16. No statistics or decent analytics

With a good hosting company, you can get free statistics about your site’s visitors. You can even install Google Analytics or any other traffic counters. On free websites, they do not allow you to add Google Analytics because they run their own analytics code on your website.

17. No support for mobile devices

You cannot update your website from your mobile or hand-held devices. Free website companies mostly have their dashboards designed for desktop. This will make it harder to update your site from mobile.

18. No responsive designs

Most free website companies offer website designs that are very old and do not work on mobile phones. Mobile users make a significant portion of internet traffic. By not having a responsive design you will lose all those users.

19. Limited file upload features

With paid hosting companies, you can upload unlimited files to your site using an FTP client or media uploader in WordPress. Free website companies only offer you a web based interface where you can upload one file at a time.

20. No way to setup redirects

With WordPress you can set up redirection in many different ways. This is a very useful way to maintain your site’s SEO scores. With free websites, you cannot setup any kind of redirects at all. Even if you move to a paid service later, you will not be able to redirect users from your free website.

Article by: Rajeev Pandey, 3rd Eye Advisory®

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