Recent Posts
-
Guides AccountingHow to Create a Business Budget for Your Small Business
According to a study done by CBinsights, a few of the top reasons why small businesses fail include include pricing and cost issues, losing focus and running out of cash. These issues can be prevented by having a realistic budget in place. Before you can focus on the budget, however,…
6 mins read
-
Guides Inventory Management21 Essential Warehouse KPIs to Measure Warehouse Performance and Efficiency
As a warehouse manager, you're probably aware of how vital it is to measure your warehouse's performance. Measurement is the step that ties all your other processes together and allows you to keep track of performance trends, gauge how efficiently you're operating, uncover potential problems, manage risks, and much more.…
8 mins read
-
Expense Management GuidesWhat is purchase requisition?
In any business, multiple departments need materials from time to time—from basic office supplies to raw materials, equipment, and services. Purchasing is universal, but how it's handled makes a difference. When firms enable line managers or departmental managers to place orders with suppliers directly, it can lead to increased expenses…
5 mins read
-
Guides Accounting
Business Budget: What is it & Why is it important?
According to a survey conducted by Clutch, 61 percent of small businesses have not created a formal budget. Without a budget, you may not understand how your business is performing. Creating a budget helps you understand how much money you have, how much you have spent, and how much money…
5 mins read
-
Articles Expense ManagementEmerging from COVID-19: 6 procurement strategies to navigate the crisis
The COVID-19 outbreak is doing a lot of economic damage. Unemployment is high and businesses are struggling with lost revenue, supply chain disruptions, quarantine measures, and factory shutdowns. Economists suggest that recession is coming or already in progress, and the IMF projects the downturn to be the worst since the Great Depression. If you are…
6 mins read
-
Articles BillingWhat to look for in a subscription billing tool
Billing management for traditional businesses and subscription businesses look very different. In the former, invoices and payments are made on a one-time basis. For the latter, they are recurring events. Subscription businesses also need to handle different stages of a customer's lifecycle like signing up, upgrades and downgrades, issuing credits, and unsubscribing. Needless to say, manually performing these…
5 mins read
-
Articles InvoicingManage Accounts Receivable remotely using an online invoicing tool
Remote work has been steadily on the rise over the past decade. Recent research by GetApp found that remote work nearly quadrupled over the past 10 years. With added impetus from the COVID-19 situation, remote work has become the new normal for many workers. This shift may be here to…
7 mins read
-
Articles AccountingHow automating Accounts Receivable and Accounts Payable can help improve cash flow
While managing a small business can be an expensive venture in itself, not having the right system in place to manage your cash flow can make it even more expensive, especially when your business is facing a crisis. If your business has been in the market for a little while, then…
5 mins read