Category Archives: Finance

How to stop Freight Charges from eating away at profits

The shipping and delivery cycle time race amongst valuable brands like Amazon and Walmart is a fierce one. Many parcel companies like UPS and FedEx may offer discounted rates for delivering on time but the real question is, “Are they actually delivering on time?” By implementing effective visual internal controls, your company’s accounts payable teamContinue reading “How to stop Freight Charges from eating away at profits”

A Visual Management Approach to Accounts Payable

Purchase order approval audit trails and visual bill entry controls can be an effective way to reduce the time it takes to resolve Accounts Payable errors and keep your vendors happy. Visual management allows for standardized visual controls that are visible to all Accounts Payable (and also accounting team) on how approvals should be obtainedContinue reading “A Visual Management Approach to Accounts Payable”

Lean Wednesday Tip

“Did you know that if your company leases its space from a multiple office building you can have your key financial representative analyze how utility charges are distributed amongst all tenants. This can help you realize savings and offer a negotiation opportunity based on your company’s utility use.”

Continuous Budgeting & The What Ifs

It is always good to be prepared. In business being unprepared for the unexpected could lead to loss of clients, reduced profits, damaged reputation, et cetera. Small business are not exempt from this either. Budgets and Forecasts need to include a reserve for the What ifs, such as, what if the office gets flooded?, whatContinue reading “Continuous Budgeting & The What Ifs”

Top 7 Tips for a Sustainable Supply Chain

1) Encourage suppliers and clients to re-use containers/boxes 2) Decrease lot sizes 3) Actively share demand forecast and inventory data with suppliers to ensure efficient purchasing and timely inventory replenishment 4) Develop a quality plan and actively (Quarterly checks) ensure supplier is meeting quality requirements by conducting an on-site visit 5) Use total cost methodContinue reading “Top 7 Tips for a Sustainable Supply Chain”

M&A: The Process, Software and Tool Abyss

M&A: The Process, Software and Tool Abyss    Here comes a merge! Essentially with a merge comes the dilemma of choosing the most effective process, software and tools used for daily business departmental functions. For example, it may be that the two companies use different accounting software, in turn, an assessment now has to beContinue reading “M&A: The Process, Software and Tool Abyss”

How to Create a Benefits Strategy to optimize talent management

  Employees don’t want to be handed books of paper about the benefits available to them through your company. They need guidance on which medical, dental, and retirement plan to choose. Therefore, to increase overall employee satisfaction and improve your benefits administration process I suggest the following: 1. Utilize the Voice of Your Employee byContinue reading “How to Create a Benefits Strategy to optimize talent management”

Small Business saves big with Accounting Automation

Automation of general accounting functions is not only for large corporations, small businesses can reap in the benefits as well. One of the most important costs you should be aware of is the cost of an invoice. Are you or your accounting personnel spending too much time creating and inputting bills and/or invoices into yourContinue reading “Small Business saves big with Accounting Automation”