Supply chains are the circulatory system of the body of a business. Supply chain planning is akin to the brain telling the blood where to flow to keep the whole thing running. The Supply Chain Planning process is an interesting topic of discussion as of late. We have quite a few new variables in the
With the CPG industry being hyper-competitive, CPG supply chain optimization has become a battleground where success is vital. After the horrors of the pandemic, with all the CPG supply chains collapsing overnight, it’s no wonder that the industry has begun an intense effort to ensure history is not repeated. Everyone is now keenly aware of
Restaurant accounting is the type of accounting that involves managing the financial transactions of restaurants, such as recording, analyzing, and interpreting financial statements, bookkeeping records, and payroll and operating costs. A well-established accounting system in place is essential for the long-term success of a restaurant as it helps businesses gain a competitive foothold in the
If we were to describe AI in inventory management in one word, it would be: optimization. The thing about AI in inventory management is that, for the most part, the technology has been there for quite some time now. While Chat-GPT and other AI models have influenced a meteoric rise in success in some business
AI has been making the rounds across the business landscape. It’s no secret to anyone that AI in the finance industry has been the talk of the town. We at EA recognizing this surge in AI popularity, have launched a series of publications. These aim to spread awareness and encourage healthy skepticism. As with any
Accounts Receivable (AR) automation has been around for quite some time. BusinessWire reported in 2021, 23% of businesses reported sparing no expense in leveraging this technology to optimize the collections process. However, there is still skepticism among the people. The “AI hype vs. reality” conversation has sparked a vast debate on whether automation and algorithm-based
The hospitality industry is among the most competitive business sectors. Hotel cash flow management often becomes the factor that decides the victor. Hotels need vast capital to function, from maintenance costs to service provision expenses. That is why it is not uncommon for cash flow to suffer due to market saturation, especially in the off-season.
Outsourced accounting services and outsourced supply chain services have changed the game when it comes to business. Where businesses used to spend exorbitant amounts of money to onboard professionals in accounting and supply chains, the advent of outsourced accounting services and third-party logistics providers has made these tasks far more cost-effective. At the same time,
AI is evolving, and with it, the role of accountants is expanding, too. AI and automation are transforming the everyday work of an accountant. In August of 2022, EA discussed the relevance of accounting automation and AI. However, before we get into the discussion of how accountants can leverage AI and automation, there is still
Starting one’s own business and being known as an entrepreneur has its perks. It’s a rewarding experience indeed. With almost everyone interested in the entrepreneurial landscape and the number of businesses opened each ear rising at an astronomical rate, it’s only natural that everyone wants a piece of the pie. However, not many people know how