Restaurant Inventory Management is important for success. It reduces waste and boosts profits by handling perishable food well. Restaurants often waste about 10% of their inventory. Automated systems can further reduce mistakes, saving time and costs. According to Food Waste, Last year, restaurants could have cut food waste by over 66%. Vegetables were the biggest
Businesses can choose between nearshoring vs. offshoring to outsource work. The McKinsey report about “Offshoring: Is It a Win-Win Game?” shows that Offshoring can reduce costs by 45-55%, and up to 65-70% with process improvements. It also highlights the wage gap: $60 per hour for a U.S. software developer vs. $6 per hour in India.
Thinking about outsourcing your accounting but think it’s only for big companies who know the ropes? Don’t worry—you can do it too, and here’s how! Due to a lack of subject knowledge in outsourcing, many companies avoid it thinking that it is either a. complicated or b. only applies to big organizations. However, outsourcing can
Many businesses find accounting outsourcing companies to be a smarter option in 2024. It helps manage complex financial tasks, save money, and focus on growth. It is an affordable option to get expert aid quickly. According to the team stage, only one-third of small businesses in the US, with more infrequent than 50 workers, use
Imagine going to get the product you have been wanting to buy for a long time from your favourite store, only for the store to tell you that the product is out of stock. Frustrating, right? Let’s suppose the next thing that you can picture is the last time you ordered goods online and you
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.
How to Measure Accounting KPIs For Startup Success KPIs refer to key performance indicators of different business campaigns that are launched to drive business growth and success. Without these performance indicators, you may not be able to measure a campaign’s performance, so they are absolutely vital in assessing the effectiveness of various business strategies. In
If you are a start-up business owner who has invested a significant amount of monetary investment, energy and time, you know how time taking small business accounting can be. In today’s changing business landscape, you want to focus on developing strategic initiatives for your business that can drive it forward rather than spending your valuable
“While they seem similar at first glance, bookkeeping and accounting are two very different mediums.” writes Laura Hennigan in her Forbes article titled, “What Is Bookkeeping? Everything You Need To Know”. Bookkeeping refers to the process of recording a company’s financial transactions on a regular basis. It is an essential process for many business functions
There comes a point in a business when hiring a remote bookkeeper becomes necessary. While managing the books may seem manageable in the beginning stages of the business, it becomes a hurdle as it grows. Especially if it starts to take a toll on your business. This blog post answers all your questions (and concerns