Real-Time Financial Data: Improve the Business Intelligence
CFOs cannot accurately manage what they do not measure. This is especially true in today’s dynamic business world. So, where do you start? Improving business intelligence requires access to real-time financial data. This information provides a clear picture of how the company performs at any given moment. Without this information, CFOs would fly blind and […]
CFO’s Planning for Inflation’s Impact
It’s no secret that inflation has been on the rise lately. According to The Economist, it is currently at a four-decade high! Everyday consumers have raised some valid concerns about inflation, but they are not alone. Managers are also scrambling to learn how to prepare for inflation and make changes to their business models. So, […]
Financial Impact of a Ransomware Attack
Financial Impact of a Ransomware Attack Ransomware attacks can have devastating effects on businesses worldwide. When it comes to the financial impacts, most people point directly to the cost of the ransom demand. However, the ransomware attack impact can extend far beyond this. It could take companies years to recover from the loss, and some […]
How to Use Automation to Supercharge FP&A Teams
Automated systems have drastically impacted how finance teams operate. Well-programmed bots can handle everything from basic customer service to automated financial modeling. Is it the right tool to help you improve the performance of your FP&A operations? Learn more about finance automation tools before making a decision. What Are F&PA Teams? Work titles vary across […]
Things to Look for When Choosing Corporate Performance Management (CPM) Software
When it comes to improving the performance of a business, many factors come into play. One key area that managers should give attention to is corporate performance management. CPM encompasses all aspects of a company’s performance, from financials to operations. In order to make the best decision when it comes to CPM software solutions, know […]
What is 2/10 net 30?
Anyone who’s ever worked in the B2B world knows that when it comes to invoicing, there’s more than one way to settle a bill. While general consumers are most used to paying upfront or using a layaway or buy-now-pay-later model, in the business world, there are endless options. Most businesses are used to invoice net […]
The 5 Best Ways to Pay Contractors & Freelancers
Freelancing used to be a lesser-known aspect of the employment world. Instead, the norm was to have W2 employees. These are staff who not only worked consistently for a firm, but relied on the corporation’s payroll department to manage deductions for taxes, benefits, and more. And typically, these employees were paid through a routine schedule […]
Receivables Turnover Vs. Days Sales Outstanding: Key Differences
Accountants use two key metrics when measuring a company’s liquidity: receivables turnover and days sales outstanding. But what are the main differences between these two metrics? Why do they matter? And which one is better? Take a look at the key differences between average days to pay vs dso and why each metric matters for […]
How to Estimate Your Doubtful Accounts
When you’re running a business, staying on top of your finances is crucial. Good cash management includes estimating how much money you might not be able to collect from customers in the future. Accounting professionals refer to this as the balance for allowance of doubtful accounts or the bad debt reserve. Maintaining accurate balance information […]
Accrued Expenses & Accounts Payable: What’s the Difference?
Expenses are a natural part of every business. Your business’s expenses must be properly tracked and recorded to achieve success and keep your business operational. Although all expenses are considered a liability, there are vital differences between accrued expenses and accounts payable. Accrued Expenses Accrued expenses are debts your company owes for services or goods […]
