We live in a world that requires high standards. Many companies use outsourcing to lessen costs and save time. Outsourcing supports business growth and offers many advantages. Small business owners can maximize these benefits by understanding and handling possible challenges before outsourcing work. Outsourcing means hiring outside experts when your team lacks time or skills.
Using trade spend wisely can boost your revenue by 20 to 40%. It won’t happen overnight, but a trade promotion can quickly make a big difference in your earnings with the right strategies. Trade spending is actually controllable. With smart planning and action, your numbers rise and your business grows. Our latest blog post lists
How Inventory Management Affects Your Cash Flow Statement (+Tips to Reduce Risk) Inventory and cash on the cash flow statement are like a delicate see-saw balance. When one goes up, the other goes down. Inventory is often overlooked. Many companies are reactive (rather than proactive) regarding inventory management which can seriously hurt their bottom line.
At a time when the world is in turmoil, the role of CFOs is being celebrated for their careful and steady approach. Thus highlighting the importance of financial prudence in uncertain times. As companies, especially SMEs, seek flexible financial expertise without the commitment of a full-time hire, two models have emerged as popular solutions: virtual
As an entrepreneur, you may want a cash basis in your accrual—the best of both worlds. Fortunately, this is possible because there is a third method of accounting called hybrid accounting. One of the main reasons many small businesses use hybrid accounting is to simplify their bookkeeping while still gaining insights from accrual accounting for larger
Increasing costs and tough competition leaving your Trade Promotion Management ineffective? Discover data-driven solutions to boost ROI and conquer market challenges. In the dynamic landscape of consumer packaged goods (CPG), trade promotion is a pivotal strategy for driving sales and enhancing brand visibility. However, amidst the ever-evolving market dynamics, traditional approaches to trade promotions often
Accounting staff augmentation could be the key to success for your business. As an entrepreneur, you might understand how high-performing resources can add (immensely) to the company’s overall financial stability. According to Statista, 5% of startups failed in 2022 due to not having the right team. Having the right team at the right time can save
According to Statista, the cloud technology market is projected to expand to $138 billion US dollars by 2025, compared to the $31 billion US dollars expected for traditional accounting. The stats are unsurprising as businesses worldwide increasingly adopt cloud accounting due to its many benefits over traditional accounting. This blog post aims to identify the
As an entrepreneur, you can better understand how your company is doing by interpreting its four financial statements. The cash flow statement is one of the financial statements. It is also, arguably, the most underestimated financial statement. The cash flow statement measures how a company is managing its cash. Not understanding it properly may lead
How much do Fractional CFO services costs for startups in 2024? One reason startups succeed is making the right decision at the right time. Hiring a Fractional CFO may increase your startup’s success ratio, but it comes with costs. At the beginning of a startup where every penny counts, a fractional CFO might be a