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Managing your business is the right way to ensure that it remains successful and profitable over time. One crucial aspect of this is to know and check your cash runway. In simple words, a cash runway means your business can still run before it exhausts all available cash resources. Knowing your burn rate and adjusting … Continued
Cost optimization is considered one of the top priorities for the chief financial officer in today’s competitive business landscape. According to the latest research, 36% of CFOs view cost management as a top goal. Result-oriented cost optimization involves cutting operational expenses while also allocating necessary funding to areas that will generate more productivity and profit. … Continued
Given this trend, you might be thinking: how do you automate accounting? Let’s break it down. If you are planning to automate the business, start by reviewing the current process and identifying the right technology, documenting workflows, implementing automation tools, and other aspects. This article will explore accounting automation, its benefits, potential challenges, and the … Continued
When the state of the economy is volatile, the role of a CFO in an organization becomes highly crucial. CFOs are the ones who navigate the company by dealing with issues such as price changes, cash management, and risk mitigation, ensuring the company remains financially stable. To keep the company stable and help it grow, … Continued
Minimizing business costs is critical in today’s economy, where even a difference of less than a few cents in income or expenditure can have a major effect on a company’s profitability. The best part is that achieving this does not require significant changes. For small businesses, profitability often comes from simple, clear strategies used in … Continued
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