Choosing a bank for business
How to evaluate workflow improvements
In order for a business to remain competitive, its work processes (both production and financial) must be constantly improved. For this reason, there is a need to evaluate the results of such innovations. As the saying goes, “you can’t improve what you can’t measure.” To solve the problem, the business must develop metrics for the measurable components of business processes and organize the collection of analytical data before and after innovation. The subsequent analysis of the indicators will allow us to conclude how effective the changes in the processes were. But you need to start by choosing the most important indicators for your business processes. Continue reading
7 financial risks in business that could be worth millions
There are always risks in business, and there are many of them. Some cannot be influenced, for example, if the summer in the region turned out to be dry, agribusiness will not be able to do anything about it: the peas will dry out, the rye will not be born. But there are risks that can and should be influenced – these are financial ones.
Financial risks are all situations in which a company can lose money for various reasons: due to the carelessness of the owner, the dishonesty of the supplier, buyer, or errors in the currency contract. Continue reading
8 reasons why a business is losing money out of the blue
When we start working with financial accounting in companies, the first thing we do is collect basic reports. Thus, we digitize the company. And thanks to this digitization, it is almost always possible to find a serious leak of money, or even more than one.
In this article, we tell you where business money most often flows. We suggest checking if your company has such “leaks”, and if there are, fix them as soon as possible. Continue reading
