7 Ways to Simplify Accounting in Your Business!

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Small businesses, like medium- and large-scale organizations, need to simplify accounting strategies to attain growth. Failing to set procedures for keeping your finances in check can strain your revenue unnecessarily and halt growth.

Small businesses are usually low on staff and might not have the budget to invest in expensive accounting services. Typically, small business owners handle everything from providing services or manufacturing products to shipping. However, business accounting is different and more complex than other business tasks.

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How to Transfer Money from One Bank to Another!

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Today you don’t need to go to a bank branch and stand in a queue to send money. Modern technologies and digital banking allow you to transfer money instantly and from home.

Money transfers from one bank to another is a fairly common and convenient way for individuals to move funds. It’s typically done electronically, and can be done in a few minutes depending on the method used. 

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Gainshare or Retain Share? Obstacles to Collaborative Cost Reduction!

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When presented with cost savings opportunities by third parties, or by others within a company, too often those opportunities are turned down. Instead of sharing savings (gainshare) people would rather try to achieve the savings themselves.

Too often this myopic, “not invented here” mentality results in either the realization of little savings or, more likely, the failure to realize any savings at all.

Procurement teams must put their pride aside and understand that additional savings can accrue to them if they engage in gainshare partnerships instead of trying to horde all potential savings to themselves.

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7 Reasons to Automate Accounts Payable!

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A lot of the problems, issues, and mistakes that happen in accounts payable can be handled through automation. AP is essential for maintaining strong relationships with vendors and a positive cash flow which is why you should automate Accounts Payable.

It’s somewhat easy to overlook the importance of accounts payable until a significant problem arises. 

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How to Make a PayPal Casino Instant Withdrawal!

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Online casinos accepting PayPal can provide players with a range of benefits. One of these is the convenience of PayPal casino instant withdrawal. In fact, some online casinos even offer free withdrawals!

However, the process is not always as straightforward as it may seem.

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Small Business Cost Cutting: A Short Guide!

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When it comes to small business cost cutting you need to think very carefully. Not just because one bad investment could put your business in extreme difficulty, but also because you need to figure out what is a good deal or a bad deal pretty much on your own. Obviously, this can be stressful, and you might feel way out of your depth. 

The truth is, there are no easy decisions when you are running a small business and keeping everything ticking over while trying to take the business forward is a real juggling act.

With that in mind, here are some ideas for small business cost cutting you could put in place to not worry about your financial situation on top of everything else.

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5 Signs its Time to Upgrade Your Accounts Receivable System!

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Many companies hesitate to upgrade or change their Accounts Receivable System simply because they feel they can continue to achieve the same results using the same systems and processes as they did five years ago.

If you are a smaller company just looking to send a few automated dunning letters and have your AR team identify which invoices are past due, there may be no reason to change.

But if your company wants to improve free cash flow and cash conversion cycles, you must be sure your AR system is driving efficiencies in your processes – if you hope to grow without spending significant dollars on headcount.  

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Use Your Small Business Credit Card Wisely

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For small- to medium-sized (SMB) businesses, taking out a loan doesn’t always come easy. Since the recession in 2008, traditional lenders don’t usually grant loans to small businesses or a small business credit card that easily. The situation makes it harder for small business owners to secure funding and boost their business’ capital. 

Fortunately, alternatives such as a small business credit card are available for these businesses. With one, companies can enjoy a myriad of benefits, including the chance to build or improve their credit standing, purchase business needs on the go, or get discounts on travel, hotel stays, or gas. 

While business credit cards do gift you with that perks, they could quickly work against your business if you use them irresponsibly.

To avoid that, focus on these seven tips that will help you maximize your card and better manage your debt efficiently:

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Best Practices for Accounts Receivable and Accounts Payable!

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Cash flow is the number one reason why most businesses fail: 82% of small businesses go under due to poor cash flow. This challenge isn’t limited to small businesses, either. Just this year, KPMG found a discrepancy in accounting, including Accounts Receivable and Payable, at Meredith Corp., one of the biggest media conglomerates in the country. 

“KPMG uncovered shortfalls in oversight of the processes used to calculate the fair value of Time Inc.’s accounts receivable and accounts payable, which were brought across to Meredith’s books when it purchased Time on January 31, 2018,” reported the Wall Street Journal.

Accounts receivable and accounts payable are critical aspects of a business’s financial health. Understanding how these two accounting functions impact your cash flow and overall growth can mean the difference between another year of healthy profit – and becoming another statistic.

Here’s what you need to know about optimizing the processes of accounts receivable and accounts payable. 

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How to Save Money as a Business!

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As a business, you may feel like you are spending more and more money as expenses increase. The truth is that everything is on the up, from insurance expenses to product costs.

Unfortunately, this has forced many businesses, who were already on the brink after the disruption caused by the pandemic, into closure. The problem is that just one increase in one area, sparks increase in every connected area.

As the economic system faces a future of instability, what can you do to save money as a business and keep expenses as low as possible and survive as a business in this hostile environment?

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Achieve Breakthrough Results! Go From Worst to First!

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We launched the Global Inventory Turnover Breakthrough project on April 1st.  It was not a joke.  Our challenge was to improve Inventory turnover from 6.3 turns to over 8.6 turns within the year.  This was a level of achievement that the company had never before reached, let alone thinking about going from Worst to First.

But we had the Call to Action.  Our Inventory turnover was perennially the worst in our industry.  Our Inventory levels were consuming an enormous amount of cash as well as creating a lot of expense in carrying charges.  And this had the effect of driving our Return on Invested Capital to very low, unattractive levels.  Further there were ongoing complaints that even though we had a lot of inventory we  never had all of the right material that was needed.

We had the motivation to turn this situation around.  What we didn’t know is that we were about to make history and go from Worst to First!

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4 Exceptional Financing Options for Emerging Businesses!

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The idea is excellent, the time is right, and the opportunity shines bright. Even 99 things go in a business’s favor, but it doesn’t have the necessary financial muscle. Everything goes in vain. One crucial element for business success is ensuring a handsome fund to start and sustain emerging businesses.

A substantial amount of money is necessary for corporate expansion, long-term profitability, and consistent operations. The corporate finance technique is an essential part of the overall business plan. Unique entrepreneurial talents are required to provide low-cost funding options and business loans.

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How a Student Can Get a Business Grant!

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Need to get a business grant to start business? Financial support is important, especially for students.

Some students feel they can start their own business because they have many interesting ideas. This is a good opportunity for professional growth if you receive financial assistance. Unfortunately, not every person who is 20 or a little over has enough money to realize all their dreams.

This is why a business grant is a good option for you. But how can a typical student get it? Here are some interesting ways you can do it.

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Top Considerations in Credit Card Consolidation

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You’ve seen a lot of mixed messaging if you’ve been reading up on credit card consolidation as a way to get your debt under control. Some sources say consolidation is absolutely the way to go. Others say avoid it at all costs. Still others say certain types of consolidations are good, while others are bad. 

Fortunately though, reading between the lines will help you find the main things to look for in a credit card consolidation to ensure it works for you. 

Here are the most important elements.

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Seasoned Leadership in Action™ – An Interview with Vitor Angelelli, Head of Operations at Neogrid

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At Supply Chain Game Changer we believe in sharing experiences and expertise from people in every industry and from across the globe.  As such we have introduced our “Seasoned Leadership in Action™” Interview series. This interview is with Vitor Ayres Angelelli, Head of Operations at Neogrid North America.

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