What are Accounts Receivable? The accounts receivable function is essentially responsible for managing any and all invoiced payments for services rendered that are yet to be paid by customers. Businesses are leaning toward outsourced accounts receivable services to get the job done. There are quite a few reasons for this shift towards outsourced accounts receivable solutions, but before we proceed, let’s talk about the relevance of the accounts receivable function in 2023, and why it is worth investing in. The

Recently the AI chatbot Chat GPT has everyone talking to it and about it. From creating the world’s first poetry anthology (entirely written and illustrated by AI) to change the U.S. immigration law, it’s truly remarkable to witness the progress of technology. So, last month, we, at Expertise Accelerated, decided to jump on the bandwagon and decided to find the impact of Chat GPT on the finance and accounting fields here. But we aren’t done yet. Our previous blog post

Money in, money out: the yin and yang of a successful business. Without proper accounts payable and receivable management, even the most promising company can quickly spiral into financial chaos. But with the help of modern technology, businesses can streamline their financial operations and achieve the balance they need to succeed. In a prior publication titled Accounts Payable Management Made Simple, we briefly mentioned how automation has to be your best friend if you want to thrive in your business

If you are a GoT (Game of Thrones) fan, you might remember a famous line, “Winter is coming.”This mantra, spoken by House Stark, serves as a reminder of the harsh, unpredictable nature of the world in which the characters reside. Similarly, people not only in the US but worldwide are actually feeling the impact of this line. Believe it or not, people are choosing to live without heating in their homes in such harsh winter temperatures as energy costs rise

The question of whether there is a recession coming in 2023 seems to have a clear answer today. It is no surprise to the business community that a severe recessionary spell is just over the horizon as we enter 2023. According to Bloomberg, economists at Barclays Capital Inc. forecast 2023 to be one of the global economy‘s worst years in the past four decades. With this sword of Damocles hanging over the global economy, entrepreneurs must begin preparing immediately for

Poor cash flow management or a lack of understanding of cash flow is often the reason for business failures. The top reason for small business failures is that they run out of money. Here, Statista shows that running out of cash is one of the reasons why startups fail. Without proper cash flow management, a business struggles to pay bills, meet obligations, and invest. If poor cash flow management is the main reason why most companies fail, then you and