With the CPG industry being hyper-competitive, CPG supply chain optimization has become a battleground where success is vital. After the horrors of the pandemic, with all the CPG supply chains collapsing overnight, it’s no wonder that the industry has begun an intense effort to ensure history is not repeated. Everyone is now keenly aware of
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Restaurant accounting is the type of accounting that involves managing the financial transactions of restaurants, such as recording, analyzing, and interpreting financial statements, bookkeeping records, and payroll and operating costs. A well-established accounting system in place is essential for the long-term success of a restaurant as it helps businesses gain a competitive foothold in the
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How much do CFO services cost for startups in 2024? One reason startups succeed is making the right decision at the right time. Hiring a CFO may increase your startup’s success ratio, but it doesn’t come without costs. At the beginning of a startup where every penny counts, a fractional CFO might be a more
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Is there a way to improve cash flow? Are there ways to make your retail business a profit-pulling powerhouse? Working to improve cash flow is one of the most vital roles an accounting and finance professional is tasked with. Retail businesses heavily depend on good cash flow to function, with even a slight destabilization snowballing
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If we were to describe AI in inventory management in one word, it would be: optimization. The thing about AI in inventory management is that, for the most part, the technology has been there for quite some time now. While Chat-GPT and other AI models have influenced a meteoric rise in success in some business
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AI has been making the rounds across the business landscape. It’s no secret to anyone that AI in the finance industry has been the talk of the town. We at EA recognizing this surge in AI popularity, have launched a series of publications. These aim to spread awareness and encourage healthy skepticism. As with any
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What is Inventory Valuation? Inventory valuation is all about putting a dollar value on your inventory and making further decisions based on that value. Zoho defines inventory valuation as “An accounting practice that companies follow to find out the value of unsold inventory stock when they prepare their financial statements.” The whole point is to
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Automated work has taken the world by storm. Every day, the business landscape continues experimenting and seeing how far we can go from offloading tedious, time-consuming work to automation. Hence, to pursue more productive endeavors at work. The accounting function has perhaps seen the most automation integration out of any business function. Accountants are looking
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What is Accounts Receivable (AR) Automation, and How Does it Work? Accounts Receivable (AR) automation has been around for quite some time. BusinessWire reported in 2021, 23% of businesses reported sparing no expense in leveraging this technology to optimize the collections process. However, there is still skepticism among the people. The “AI hype vs. reality”
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It is happening. And it won’t stop. AI is automating accounting workflows. From automating daily tasks and analyzing past data to improving tax compliance, AI is saving time and money. By now, we all know AI isn’t just a buzzword. It is a game changer. The future is knocking. Its algorithms can process data at