$25 Billion was lost from medical practices last year due to fraud or theft. $25 billion*.
That’s a pretty high number, right. Certainly to account for $25B, a lot of that had to come from large practices, right? Wrong. 70% of
Financing Growing Small Mid Sized Business
No matter what stage you are in your business you need access to adequate funding sources to ensure success. There is no “perfect” way to financing a business, but there are some fundamental steps owners need to take to ensure
Knowing Change Direction Solid Financial Data
One of the toughest questions faced by a leadership team or a business owner is when to start taking dramatic steps to preserve your business. Most wait too long and human nature plays a big role in the waiting. So
Make Accounting Data Work for Your Managed Services Business
It’s a good time to be an MSP (Managed Service Provider / IT Service Provider). Our IT Services clients are doing well, top line and bottom line. Small companies have embraced outsourcing IT and are moving towards MSP. Technology has
Profitability Metrics
Finance and accounting analysis can offer great insight to help you grow your business. That said, you need two “table stakes” in place before they are actually helpful:
You need solid data – managing by bad data is like navigating with
Preventing Fraud
Billing fraud, corruption, check tampering, skimming and expense reimbursement.
These are just some examples of accounting fraud schemes occurring in companies with fewer than 100 employees EVERY DAY.
According to the ACFE’s 2012 Report to the Nations, fraud is occurring at high
Understanding Labor Utilization and Pricing for MSPs
Would any MSP or IT Services firm ever set a fixed-price contract based on charging a client $40 – 50 / hour for all of their work? No way. That said, through our recent benchmarking study with MSPs from around
Data Driven Decision Making
Should we continue selling a low-profit product line? Are we overspending on administrative expenses?
Businesses every day wrestle with these decisions.
But is ownership/management making a decision based on data and external insights? Or, are decisions based on intuition and feel vs.
Business Use Accruals Based Accounting
As a business owner one of the tasks at hand is to promote and package your business is a stable business entity that is credit worthy and an attractive investment.
To do this you need to continually monitor your business results
Outsource Back Office Functions
It happens almost every day. A large company, often listed in the Fortune 500, makes a strategic acquisition of a small entrepreneurial company to increase their product portfolio and to increase revenue . Usually when this occurs the small company