CLOUD CFO BLOG

Accounting advice, made awesome.

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.

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man explaining to woman the financial reporting in chart format that may be included in fractional CFO services

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.

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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.

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What is a cash flow statement and why is it important?

Your cash flow statement shows the business cash inflow and outflow over a specific period of time. Cash flow indicates whether your company can generate and use cash in a sustainable way. A successful business needs cash to: Pay employees, purchase materials, goods and supplies, meet overheads costs and cover debt.

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