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
Imagine transforming your accounting processes with a single decision- Accounts payable automation (AP Automation) While the potential loss of crucial data and the high initial cost of software might seem daunting, the long-term benefits far outweigh these challenges. In recent years, the demand for accounts payable automation has risen significantly. According to a recent report
Are you a startup owner wanting to carefully manage your funds but cannot afford a full-time CFO? A Virtual CFO can help you. In today’s times, experienced CFOs demand very high salaries and rightly so but some startups cannot accommodate them because of low budgets. A virtual CFO might be the solution any startup needs.
Are you thinking of long-term success for your small business? Financial planning can help you achieve business objectives. Achieving long-term business success depends on good preparation, and the most important part of this preparation is an informed financial plan. This plan outlines a business’s short—and long-term financial goals and how to reach them. It is useful for company
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
How to Grow an Accounting Firm Despite the Ongoing Staffing Shortage. Are you as an accounting firm dealing with the increasing difficulty of finding enough staff? Hiring and keeping employees has become really hard, leading to a shortage of accountants across the industry. Several things are responsible for this issue. The accounting profession is growing
Making a choice between in-house versus outsourced accounting is crucial. It can make a big difference on the firm’s financial stability and operational efficiency. Small business communities stand to gain significantly from this discussion, particularly in the context of shifting to a WFH model for roles that can easily adapt to it. Accounting is a
CFOs and controllers are senior accounting roles that drive a business’s finance function. In 2024, the finance function will become one of the most relevant parts of a business. Interest rates are soaring, and the economy seems primed for an inevitable upset. If businesses are not prepared, they may face catastrophic damage should the worst
How to Manage Trade Promotions: 5 Result-Driven Tips to Skyrocket Sales and ROI Effective trade promotions must deliver tangible outcomes to be truly effective. You might have had a good handle on your team’s trade promotion expenses last quarter, but do you know exactly what return on investment (ROI) those efforts brought in? According to Forrester,
Have you ever thought of hiring a Fractional CFO for your small business? If you run a small business and can’t afford to pay high salaries for experienced CFOs, you still need someone crucial to guide your business to success and growth. So, Fractional CFO services may be the right answer for you! The fractional