Cash flow monitoring is the process of analyzing and projecting cash inflows and outflows to optimize cash flow. Effective cash flow monitoring ensures the business is liquid enough to cover its operating expenses, investments, and debt obligations. One of the main reasons cash flow monitoring is so important is that it allows businesses to make […]
Understanding a Financial Statement Audit
Presenting accurate financial statements is the backbone of any successful company. For one, doing your due diligence is your duty to investors and stakeholders, but just as important is following the laws and regulations that govern financial reporting. That is especially true for public companies, as federal bodies such as the Securities Exchange Commission demand […]
What Are the Types of Accounting Software?
If you’re trying to streamline your finance department, accounting software is an essential component. The fast-paced business environment of today demands you automate elements of your accounting department so you can focus on larger initiatives and your bottom line. As a business owner, you need time to focus on sustainable growth and long-term financial viability. […]
What Software Does a CFO Use?
Software tech stacks have never been more integral for businesses. And they’re only going to become more important. Your business, regardless of its size, needs technology to survive in today’s landscape. But what software does it need, does your financial team have the necessary expertise to ensure you take advantage of software, and would you […]
How Do You Automate Your Accounting Processes?
No matter what industry you’re in, speed is critical. Whether you need to make short or long-term decisions, the modern business world demands automation. Without automation, the speed of the modern world will drown your business. This is especially true when it comes to data-driven aspects of your business, such as accounting and your financial […]
How Much Does an Outsourced CFO Cost?
You know you need a CFO but don’t know if you can justify bringing on a full-time employee. You’re facing financial challenges and need a financially-minded strategist in your corner. If this sounds like you, an outsourced CFO might be your best. But how much do outsourced CFOs cost? How much outsourced CFOs cost depends […]
What are APIs and why should accountants care
Technology connects the world. APIs facilitate that connection. But “what is an API,” you ask? API stands for Application Programming Interfaces and these platforms create connectivity between applications to increase efficiency, automate tasks, and improve the work environment for accounting practitioners. In this blog, we’re diving into APIs: what they are, why they matter for […]
How Is Technology Shaping the Future of Accounting?
In the future, technology will no doubt be a critical component of every business. Accounting will be no different. In this blog, we’re uncovering technology used in accounting. These technologies stand to shape the future of the industry. From cloud computing to automation, blockchain technology, and beyond, the future accountant will have to modify their […]
Should I Use Accrual or Cash Method for Accounting?
Choosing between accrual or cash basis accounting depends on the size of your business and whether you need to present your financial information to shareholders. It also depends on your sales revenue and whether you’re a publicly traded company. In this blog, we’re looking at the differences between accrual and cash basis accounting and which […]
Why Do Accountants Need Data Analytics?
There is a vast difference between bookkeepers and accountants. The main reason for the growing disparity between bookkeepers and accountants is because of data analytics. Before data analytics, bookkeepers and accountants alike had to enter figures manually, leaving room for human error. With four types of data analytics, accountants can create dependable reports, diagnose issues, […]
The Benefits of Real-Time Reporting and Accounting
Accounting technology has continued to evolve and shows no signs of stopping. In fact, 56% of accountants say that technology is increasing their productivity. As more and more businesses look for accelerated reporting, it’s important to understand how your business can utilize real-time accounting. As a business owner, you recognize the importance of having reliable metrics when […]
Should Your Startup Use an FaaS Company?
As a startup, you already have a lot on your plate. But as daunting as a startup seems, the truth is that business growth never comes easy–no matter what stage you’re in. What you do to get to $1 million is different from what it takes to get to $10 million. You need a finance […]
What Are the Benefits of Finance-as-a-Service Companies?
You’ve likely heard of the benefits of outsourced accounting services and how they can eliminate the challenges of an in-house accounting team. In fact, 78% of businesses all over the world feel positive about their outsourcing partners. However, it’s important for business owners to know that Finance-as-a-Service (FaaS) is slightly different from an outsourced accounting […]
Moving from Finance-as-a-Function to Finance-as-a-Service
For years, executives have conceptualized their finance department as an unexciting, yet necessary evil. Many companies still view their finance department as nerdy employees who gush over minutia, such as compliance and back office responsibilities. Thankfully, these misconpcetions are changing. The world of finance-as-a-function is drawing to an end and the new world of Finance-as-a-Service […]