8 Benefits of ERP Systems
There are many benefits of ERP systems. Given a turbulent economic climate over the last three years and increasing security concerns, it's no wonder more…
How to Streamline Your Monthly Reporting Like a Boss
Monthly reporting is one of those operational necessities that often becomes neglected. Here are three ways you can streamline your monthly reporting.
Inventory Accounting 101
We will cover inventory accounting best practices, including inventory tracking, and the key inventory accounting concepts you should know. Given ongoing supply chain troubles, skyrocketing…
5 Strategies to Reduce Labor Costs
With employee retention, inflation and a looming recession all front of mind for business owners, it can be tricky to balance the effect labor costs have on your bottom line. In the United States, WTW's budget planning survey showed companies are projecting an average salary increase of 4.1% in 2023. But, even if your company is included in that estimate, there may be other ways to reduce labor costs.
3 Ways to Put Your Financial Reports to Work
Our favorite type of client? One that has been growing so fast they haven’t had time to really put their financial reports to work. There is so much room for improvement in a company that is already growing but doesn’t yet know how to glean value from their financial reports.
3 Benefits of a Fractional CFO in a Recession
If there’s one thing we might recommend to new clients when they ask about a possible recession, it’s to consider our fractional CFO services. A fractional CFO (also referred to as an outsourced CFO) is a financial partner to to drive growth when there is an opportunity and to help weather a recession if you see a downturn.
Difference Between P&L and Balance Sheet (And why it’s important)
We often see prospective clients paying special attention to the profit and loss statement (P&L), but ignoring the balance sheet. That's a mistake, as both are important. Let’s drill into their difference between the balance sheet and the P&L with this cheat sheet:
How to Lower Customer Acquisition Cost (And make customers more valuable).
Congratulations, you have managed to persuade a customer to purchase your product or service. In fact, you have managed to repeat this action over and over again. But, do you know the true cost to acquiring those customers and have you figured out how to improve that cost?
Landed Cost Calculation and Tips to Improve
Landed cost is the total expenses associated with shipping goods from the source to buyer. This could mean to a warehouse or to a customer’s doorstep. This is an important KPI in supply chain management. Sounds simple? There are many external factors that can affect landed cost.
How to Write a Price Increase Letter
Price hikes are always a delicate business decision to make. You don't want to raise your prices too high and scare your consumers or clients off, but you want to address your business needs.