Benchmarking and KPIs are both methods of determining a business’s financial performance and they can help gauge a company’s financial and operational performance while identifying future strategic initiatives. However, many people ask whether benchmarks and KPIs are the same thing. While they have similarities, they measure separate things. These KPIs can often be automated, but […]
What Is eCommerce Accounting?
Regardless of where you are in your eCommerce business, bookkeeping and accounting are two of the most critical determinants for your long-term success. Without a solid eCommerce bookkeeping and accounting system in place, things can quickly go awry. Unclear tax laws and exciting growth possibilities afforded by the internet are just a few reasons why […]
Outsourced Accounting Misconceptions
Outsourced accounting comes with a lot of preconceived notions. After all, outsourcing any part of your business comes with inherent risks. You need to know you can trust who you’re outsourcing to and what they can offer. However, as this blog shows, many of these preconceived notions are simply misunderstood. While outsourced accounting is relatively […]
What is Cash Flow and Why is it Important?
We here at Fully Accountable can sum up the importance of cash flow with one statistic: 82% of businesses that fail do so because of cash flow issues. Care about cash flow yet? This article discusses the reasons why cash flow is critical to any business looking to afloat. Cash flow gives you critical expense […]
Do you Outsource Accounting for a Startup?
You’re a startup owner. Did you start your business to perform tedious bookkeeping tasks and constantly worry about training your new hires? No. You started your company because you care about your products and services and how they help your customers. Maybe you want a yacht along the way. Whatever your reasoning, you didn’t sign […]
8 Warning Signs Your Business Needs Outsourced Accounting
As a small business owner, you need to make sure your finances are in check at all times, especially when you’re trying to grow. One accounting misstep can cause severe repercussions. You may not always notice when your accounting is at risk. However, these warning signs will quickly tell you when you need to consider […]
Benefits of Outsourced Accounting
Congratulations, you’ve either started a new business, or you’ve been in business for a while. Either way, you’re winning. However, running a business comes with managing a team, it can be hard to keep up with all of the elements it takes to keep everything afloat. It can be especially difficult when it comes down […]
What is Big Data & What Does it Mean?
What Is Big Data? The term “big data” may confuse some. It can mean many things. And that’s fitting considering so many businesses, nonprofit organizations, and government agencies want to use it for their benefit. However, when you take a closer look at big data, it’s essentially large data sets that require a scalable infrastructure […]
Data Analyst vs. Data Scientist
In our modern business world, a company leader who fails to tap into the potential of big data is like flying an airplane with a blindfold on. Big data can help you understand market trends, consumer behavior, measure KPIs, and target inefficient processes. As a whole, big data can serve as a guide when making […]
5 Ways That Data Analyst Save Time
If the old saying that “time is money” is true, then your business has no time to waste. Business owners across all industries need to constantly be looking for ways to save time and resources. Data Analysts are part of the answer. Over time, this can help improve the efficiency and effectiveness of your business […]
Why Every Organization Needs a Data Analyst
Data analytics may seem like a foreign language to some; however, even though the individual tasks involved in data analysis are esoteric, the benefits they bring to your organization are straightforward. Companies using extensive data analysis beat competition time and time again. In fact, as a Toward Data Science survey shows, 54% of all businesses […]
Thriving in the Age of Hybrid Offices
Many of us love the comfort and lack of a commute working from home affords, not to mention the much comfier work attire. However, being separated from our peers can make it easy to feel isolated and alone at your job. It can be difficult to maintain good relationships with colleagues and have effective communication […]