You’ve made a sale! That’s great but the customer hasn’t paid and the invoice is now 90 days past due. This scenario is common amongst many businesses. Many businesses resort to offering extended payment terms but this is a bad idea because it affects their cashflow. What you really want is client satisfaction because whenContinue reading “Days Sales Outstanding: Get Paid Faster tips”
Author Archives: Notable Office
Lean Wednesday Tip: Tax savvy family-owned businesses
“Family businesses allow tax savings through income splitting between parents, children or other relatives.”
E.O.W (End of the Week) Notable Tip: Product Innovation for lower freight costs
Happy Friday! I hope you’ve had a great week. Freight and shipping costs can eat away at profits but they don’t have to. By having strong auditing, procurement and vendor management processes you can yield better profits. One way to reduce freight costs is by working with suppliers on product innovations that reduce the weightContinue reading “E.O.W (End of the Week) Notable Tip: Product Innovation for lower freight costs”
Lean Wednesday Tip: Supplier Quality Plans
“Suppliers play a critical role in ensuring quality for a product or service, effective companies collaborate with suppliers on quality by requiring that they conform to standards, such as ISO 9000. Quality Assurance audits confirm or deny good suppliers.”
E.O.W(End of the Week) Notable Tip: Return on Assets
Happy Friday! I hope you’ve had a great week. Today, I would like to discuss return on assets. Effective companies utilize their assets wisely by ensuring for example that low margins are supported by an equally low asset density coupled with the ability to remove waste and inefficiencies from processes. Continuous investment in assets andContinue reading “E.O.W(End of the Week) Notable Tip: Return on Assets”
Lean Wednesday tip: Buying a Business, tax savvy contracts
“When buying a business get a written guarantee; ensure your purchase contract includes a stipulation that requires the seller(s) to promise to only sell the business if there are no taxes owed and that the seller(s) will be personally liable to the buyer if this turns out not to be true.”
E.O.W (End of the Week) Notable Tip: Unprofitable Factors in the industry
Happy Friday! I hope you’ve had a great week. Today, I want to discuss unprofitable activities/factors that your company may be utilizing a great deal of resources on. “By understanding your customer’s priorities you are able to shift resources to activities that drive value and profitability, in turn, eliminating those factors that yield no profitsContinue reading “E.O.W (End of the Week) Notable Tip: Unprofitable Factors in the industry”
Lean Wednesday Tip: Product Development Costs
“During the design and planning phase of your product is the best time to identify and deal with problems. Being able to understand the many ways your product can fail before costly investments are made in equipment or customer will keep costs down and client satisfaction high.”
Notable Bookkeeping: SQL Work Portfolio Showcase
Happy Friday! I hope you’ve had a great week! Notable Bookkeeping can code! We are proficient in SQL, Python and HTML. See our work samples here. We’re also proficient in Excel including data manipulation methods, such as, vlookup, formulas, pivot tables, graphs and conditional formatting. How are we different? We align customer priorities with strategicContinue reading “Notable Bookkeeping: SQL Work Portfolio Showcase”
Lean Wednesday Tip: Unstable Processes
“A process that is not under control or is unstable displays patterns of variation. Unstable processes have variation that is unpredictable; the magnitude of the variation could change from one time period to another.”
Notable 