CFOs, ever wonder what happens when your trade promotion accruals don’t add up under accrual accounting standards? (Spoiler: It’s a mess. Cash flow issues, missed forecasts, and everyone pointing fingers at each other.) Trade promotion accruals matter. Imagine Joe from the accounting department struggles with inaccurate accrual calculations every quarter. He relies on sales team planners to estimate accruals, but errors keep slipping through.  While everything may seem fine now, these miscalculations can snowball into a serious problem, especially when

Trade promotions help CPG manufacturers increase revenue. But managing them well can be tough. Firms spend 20-40% of their revenue on trade promotions, but many don’t notice real profits. Poor promotions reduce profits, damage cash flow, and lead to flawed decisions. If your trade promotions aren’t working, watch for these six warning signs. 1. You Don’t Have Clear Visibility into Promotion Performance Many businesses run promotions without checking if they boost sales, profits, or demand. Without analysis, companies can’t tell

Many companies struggle with Trade Promotion Management due to inefficiencies in procedures and poor cross-functional collaboration. Poor data accuracy further complicates the issue. Financial issues, unresolved deductions, and poor planning cause revenue loss and inefficiencies. While technology can support TPM, it cannot fix broken workflows or misaligned teams. Effective trade promotion management requires clear processes, accurate data, and strong cross-functional collaboration. Without these elements, businesses risk financial misalignment and missed opportunities. Let’s explore how financial consultants can help trade promotion

Running a business in Connecticut comes with financial challenges; rising operational costs, tax complexities, and the constant need for accurate financial management. Many businesses struggle to keep up with their books while also trying to grow. Outsourced accounting services in Connecticut offer a cost-effective solution, allowing businesses to streamline their finances, improve accuracy, and reduce expenses without the overhead of an in-house accounting team. In this blog, we’ll explore how outsourcing accounting services can help businesses in Connecticut save money

Finances are a significant challenge for small businesses, and consulting professional accounting services can have a remarkable impact. Accountants can handle everything from bookkeeping and payroll management to tax compliance and financial planning, which helps keep business owners financially organized and legally compliant. Several Connecticut accounting firms offer in-house and outsourced services focused on small businesses. Here is a roundup of some of the top accounting services in Connecticut, with a particular focus on each firm’s offerings. Expertise Accelerated Situated in Greenwich, EA (Expertise

Running a small business is no small feat, especially in Connecticut, where competition and operational costs can be high. One of the most critical yet time-consuming aspects of business management is accounting. Small business owners often find themselves juggling financial tasks along with daily operations, which can lead to errors, inefficiencies, and missed opportunities. This is why outsourcing small business accounting in Connecticut has become an increasingly popular solution. The Challenges of Managing In-House Accounting Though some business owners might

Trade promotion management (TPM) is supposed to be a simple, number-based process. It’s all about using discounts, rebates, and deals to boost sales without eroding margins. But in reality, it can feel like a big mess, especially when the numbers are not aligned and the different teams aren’t working together. If your sales team plans a promotion, your accounting team calculates accruals, and your deductions team clears payments, why do so many companies still lose money on trade promotions? Because

Outsourcing accounting tasks can save time and cash, letting you concentrate on your business. it also provides access to expert financial services. While this requires trust, it can offer significant advantages. In 2022, the finance and accounting BPO market reached USD 56 billion and is set to grow at 9% CAGR through 2030. Partnering with expert accountants ensures tailored financial management and business growth. For SMEs, outsourcing accounting and bookkeeping simplifies financial management, ensuring accuracy as the business grows. In

Consumer goods companies spend millions on promotions, yet 72% don’t break even due to poor execution. Trade promotions boost sales through discounts and retailer incentives. But over half of these promotions don’t make a profit. CPG brands spend over $500 billion a year on trade promotions, according to Forrester. With so much money invested, it’s important to run them correctly and boost sales. The cost of trade promotions has jumped from 3% to over 25% of revenue. Even with this

Misconceptions, mainly in finance and accounting, can be expensive. They can stop opportunities, slow growth, and harm your bottom line. When it comes to accounting outsourcing, these delusions often prevent businesses from using its benefits. Take Judith, a small business owner. She believes outsourcing is only for big companies or that it will make her lose control of her finances. These myths can stop her from saving money, boosting efficiency, and growing her business. This post will clear those myths