Don’t be one of the 80% of small businesses that fail due to cash flow problems. It’s the right time of the year to get a budget in place that can help you steer your company away from cashflow problems
The principles of accounting have existed since the days of Mesopotamia. In fact, according to historian John Steele Gordan, humans likely began to write simply because they wanted to track their money. Those early primitive methods worked for several thousand
Cash management, cash forecasting, and burn rate calculations are frequent concerns for entrepreneurs. One metric we love at CoEfficient is Days-to-Zero. Put simply, if your cash receipts stopped tomorrow, how many days until your business ran out of cash? While
$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
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
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
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
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
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
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