News & Resources
Ways to Use Big Data for Your Growing Business
The collection and use of data has been a game changer for businesses of all sizes. Companies leverage data to gain a competitive advantage in their niche. They use it to identify their target markets, learn more about them, customize their sales and marketing...
Common Challenges in Inventory Management
Inventory management makes it easier for your team to monitor stock, schedule orders, identify profitable items in your portfolio, and determine seasonal sales trends just to name a few benefits. If this aspect of your business is running efficiently, you’ll save more...
Improve Inventory Management with these Techniques
Inventory management makes sure your orders are on time and in good condition whether you’re sending them to your storage spaces or directly to your customers. Inefficient inventory management creates problems for your business such as delays in deliveries,...
Important Non-Financial Performance Metrics
Your business relies on financial metrics to determine the success or failure of a campaign, product, or service. It provides you with insights into the effectiveness of your strategy. The data you gather enables you to determine patterns you can leverage to gain a...
Advantages of a Bank Reconciliation Statement
All the financial statements of your business are valuable. Each one provides you with a different angle of your company’s financial situation. One document you shouldn’t overlook is your company’s bank reconciliation statement. The latter makes sure your accounts are...
Challenges in Collecting Accounts Receivables
Not all revenue you earn is immediately cash. Accounts receivable is revenue; however, unless you collect from a customer, it won’t be cash you can use for investments or operations. One of the problems you might encounter is collection of receivables. Some customers...
Collect Accounts Receivable Faster with these Tips
Accounts receivables are considered part of your business’ revenue. However, it’s not yet cash because a customer has yet to pay it. If the delay in payment is too long, your business might encounter cash flow problems even if it’s generating revenue. Collecting...
What are the Different Budgeting Methods?
Running a business requires funding from different sources. Some owners make the mistake of spending too much money for little to no returns. They think they have enough cash to cover daily operations and take on projects that allow their company to grow. However,...
Cash Flow 101: Direct Vs. Indirect Forecasting
The way you manage your business’ cash flow has a positive or negative effect on your resources, profitability, and growth potential. If you mismanage your cash flow, your company won’t have enough resources to develop new products or improve customer service, will be...