Financial Management

‘A penny saved is a penny earned’ is a proverb in English. This brainy quote is enough to make you take your company’s accounts payable management more seriously. You must know that 82% of startups fail because of poor cash flow. Therefore, you should have a serious consideration of all factors affecting your cash flow. […]

Tracking expenses could be really important for you, if you bill your clients on the basis of the total expenses incurred in order to complete a project. From a consulting company to an individual consultant, online expense tracking often becomes a necessary requirement to calculate the total project cost and raise an invoice to receive payment from clients.

Some daily business activities and transactions include common terminologies that might get a little confusing and bounce over your head. But, the initial confusion should not stop or hamper your work. Do not Worry! none of these terminologies are tricky as solutions in chemistry labs. Having a clear understanding of such business day to day […]

It happens quite often that many small scale enterprises simply focus on generating only direct revenue even to the extent of neglecting the proactive management of the business expenses. They fail to realize that eventually, only the gross profits are significant which are calculated after deducting the expenses from the revenue generated. Now, if the […]

The process of Workflow Automation can significantly expedite the task of creating, handling and also ensuring approval of invoices. In the true sense, it is a technology solution that automates the tasks to form the process that can be completed in a more automated environment, eliminating or reducing manual efforts. In the process, many small […]

Are you used to manually searching for purchase orders and goods receipts? You aren’t unknown to the fact that this job can get really tedious and bring down your productivity levels. Accounts Payable automation is the answer to all your woes. This would allow you to expedite invoice review, coding and the final approval that […]

Accounts receivable for a layman can be defined as a sum of money that an entity owes to an organization in the form of a legally enforceable claim for the payment of the goods or services bought on credit. Most business owners raise the accounts receivable in the form of an invoice which is delivered […]

Off late, many business organizations have clearly understood that co-ordinating between departments in a structured format has become quite difficult. They can no more operate in a well-defined format, as the complexity also has improved proportionally. Such lack of coordinated process can make the business decline. Hence it is vital that each department involved in […]

A wise man once said, “If Plan-A doesn’t work, the alphabet has 25 more letters! Stay cool.” If you aren’t able to make enough money from your day job, then one of the best options for you is to start a part-time business. Initiating a part-time business is a profitable business and the potential return […]

Everything in life is not permanent. Sooner or later, everything seems to fade away. Same is the case with your customer base. Every customer, at some point or the other, seems to make attempts for saving their hard-earned money. For this, they may act choosy or fickle and for this, they might even end up […]

In USA alone, workforce employed by the small businesses constitutes for approximately half of the current working population. “Approximately 543,000 new businesses get started each month (but more businesses shut down than start up each month)” and “7 out of 10 new businesses survive at least 2 years, half at least 5 years, a third at least 10 years and […]