Updated 7/30/2019. I recently visited a client company with over 750 employees. The HR staff kept track of vacations on a spreadsheet. Anyone considering taking time off would first call up some poor overworked HR rep and see how many days they had remaining. That rep would have to then manually update the remaining totals.
I have to imagine that was pretty much how that staffer spent his or her summer months at work.
This same company had a total of about ten spreadsheets keeping...
By David Singletary
Companies using a combination of QuickBooks and Excel are oftentimes looking to find a more robust system alternative, but are not ready for an enterprise-level ERP system. For these types of firms looking for a low-cost option that will not require the replacement of QuickBooks, one application is Fishbowl—a manufacturing and inventory control system that integrates seamlessly with QuickBooks. Fishbowl Manufacturing is designed for small to mid-sized companies...
By David Singletary
Are you still using Excel spreadsheets to keep track of your company’s inventory? You’ll know it’s time to upgrade when your business grows to the point where you or your people are spending way too much time inputting static data.
A good inventory management system should do the heavy lifting. Here are a few features and capabilities a good solution should offer.
Multiple costing method options — You shouldn’t be limited to just one method of calculating...
Updated 7/30/2019. Cybersecurity does not offer a return on investment — unless you count stable client relations, peace of mind, insurance against the financial, and public relations disaster that can result from digital criminal activity. In other words, cybersecurity is something that your business will hardly notice if it’s functioning well, and deeply regret if it goes wrong.
Harmful effects from data breaches
Data breach can be a crisis for your business in a number...
Updated 7/30/2019. The term “digital transformation” probably sounds a bit intimidating. Like something beyond your capabilities and a drag on your business in trying to undertake it.
So let’s start with a basic definition that’s not quite so off-putting. Digital transformation is simply your efforts to integrate digital technology into all areas of your business. The right mix of digital technology solutions will make your company run smoother and more productively internally, and...
By David Singletary
Remember the prime promise to the business community as the computer age took hold? Paper will become obsolete. Every memo, letter, contract, and spreadsheet will be stored on a relatively small stack of floppy disks. (Yeah, it was a few years ago when that promise was made.)
So what happened?
Nowadays, you can store just about everything “in the cloud,” a virtual patch of real estate located somewhere in cyberspace.
Leading cloud storage options are more secure...
By Lisa Calick, Carolyn Hall, Floriana Allen, and Laura Melville
The end of the year can be busy for many companies. While December brings holiday parties and end-of-year celebrations, business owners should be mindful to make sure their HR and payroll departments are on top of timely actions in order to ensure a smooth transition into the New Year. This checklist will help you get a jumpstart on your year-end planning.
Human Resources
Review your employees’ data to make sure...
By Joe Cicerone
Updated 7/29/2019. Your business needs help. No, that doesn’t mean you’re doing anything wrong — or more wrong than anyone else trying to independently run a business. But it would help to have an experienced CFO advisory group who could see your company’s challenges and opportunities from a fresh perspective.
That’s because the management team of young and growing companies tend to see what they’ve always seen. They only know the one way of looking at their...
By Carolyn Hall, CPA, MBA
Business owners with an entrepreneurial spirit welcome growth without necessarily focusing on the bottom line. MSO and DSO professionals who own and operate medical and dental service organizations that are experiencing patient gains and revenue growth can often lose sight of the details that go into back-end processes.
Your accounting system can be your first and most visible sign of trouble. When billing is slow or error-filled, processes are broken, locations...
By Carolyn Hall, CPA, MBA
Updated 7/29/2019. In my last blog post, we covered how a business process review is a great tool to determine what processes can be improved upon in your medical service organization (MSO) or dental service organization (DSO). One of the most common outcomes of a BPR is a company elects to onboard an outsourced accounting firm.
With this post, let’s explore the value-added benefits of such a relationship.
An outsourced accounting firm with experience in...
