The concept of billable hours is changing with the times we live in. Clients are no longer charged based on estimated time, and employees are increasingly working outside of the traditional model, where wages and hours are static. Increases in both inflation and running costs means that businesses today need to make sure that they are keeping up with the pace of technology to keep their profitability and cash flow high. (more…)
In a world where we are constantly uploading and transferring our data online, it is natural to worry about the security of our information. This concern becomes more pressing in regards to business goods: how can we be sure that the confidential electronic statistics, documents, facts and figures of a company are protected? (more…)
Keeping your accounts receivable in order is a challenge. Often the problem seems to lie with others. According to a 2017 Payment Practices study by Atradius, 92.6 percent of businesses report late payments, 48.8 percent of invoices are overdue, and businesses were forced to write off 2.1 percent of receivables as uncollectible. While we can’t control when and how clients make payments, setting up measures to keep accounts streamlined can clear up the clutter. (more…)
Tracking your invoices just makes good financial sense, but did you know it can also help your business to grow? Meticulous accounting allows for fewer crises, more informed planning, and the knowledge that your accounts receivable is running smoothly for prompt payments and satisfied customers. No matter the size of your business, careful invoice tracking can fuel its growth. Read on for our top five tips to advance production via invoice tracking. (more…)
The best way to evaluate the success of your business is to use key performance indicators, or KPIs. These indicators are core metrics which are used to monitor progress toward financial results and main goals within a company. The values which are used to assess success can help you make key decisions about your own business’s development and growth. (more…)
Tax season isn’t over yet! 2019 still has some deadlines to hit, so make sure you know how to keep your accounting compliant.
From small family-run businesses to large multinational corporations, everyone needs to follow the same sets of rules. This also means that within every level of business, the tax and finance professionals involved are all expected to understand and apply rules and regulations that can be confusing and complicated. (more…)