Reducing Attrition Rate in 2023: Useful Tips for CPAs and Accounting Firms
The Great Resignation has brought unique challenges for organizations across the globe. In 2022, employee attrition rates are unexpectedly high, and even seasoned CPAs and accounting firms are struggling to retain valuable bookkeeping talent. And rumor has it that it may get worse. Since CPAs and accounting firms across the globe are struggling with a […]
7 Invoice Management Tips and Solutions for Modern Businesses
R&D, operations, production, sales, and customer support – there are many tasks that leaders have to deal with while running a business. While invoice management doesn’t seem as challenging as other functions, it’s critical for a smooth AR process. If managed accurately and in a timely manner, invoice management aid regular cash flow, check accounting […]
Improving Accounts Receivable Process: Best Practices from Finsmart
Having an efficient accounts collection process means you can maintain good relationships with clients, improve the business’ cash flow, and manage tasks that take precious time. Young business owners however have little idea of how to improve their AR collection. As a result, they are exposed to the risk of not having enough cash on […]
16 Basic Accounting Terms and Definitions for US-based Businesses
How often have you ended a call with your accounting team feeling befuddled about an accounting term? If your answer is a lot of times, then, you’re not alone. A lot of business owners in the US (and at other places too) aren’t familiar with common accounting terms and definitions. However, in order to manage […]
Outsourcing Accounting Services to India? Here are 7 Things to Keep in Mind
The many advantages of outsourcing accounting services in India have made it popular amongst businesses of all sizes. For those who don’t know, outsourcing accounting and bookkeeping companies in India are helping organisations as well as CPA firms boost accounting efficiency, minimise bookkeeping cost, and maximise profitability every year. While thousands of global CPAs and […]
How Global CPA Firms Can Combat “The Great Resignation”: Maanoj Shah
Recently I went for a global CFO meet where I got the opportunity to interact with CFOs across the globe. Every person I spoke to said, staff retention is the biggest challenge they are facing right now. This got me thinking that “The Great Resignation” tidal wave is hitting everyone hard, irrespective of the industry […]
9 Benefits of outsourcing accounting and bookkeeping services
Outsourcing accounting & bookkeeping Introduction In the current time, it is challenging to find a qualified and eligible person or agency to grant their accounting or bookkeeping services at an affordable price. It is very challenging for small businesses, entrepreneurs, and startups to get an accountant because of the lack of money. They need the […]
Say goodbye to the hassle of training and retraining bookkeeping resources – Finsmart
Say goodbye to the hassle of training and retraining bookkeeping resources With advances in technology and changes in the business landscape, businesses are re-evaluating which functions of their organization will benefit from in-house resources and which will not. After all, people are one of the biggest investments that companies spend in terms of cost and […]
Three Common Misconceptions About Offshore Outsourcing – Finsmart
Three Common Misconceptions About Offshore Outsourcing Offshore AR /AP outsourcing has become a proven strategy for organizations to create efficiencies in costs and time, and deliver better value to their customers. According to a 2021 Report Linker study, the finance and accounting outsourcing market is projected to grow by US$16.7 billion. But even with its […]
5 Surprising facts about outsourced accounting you must know
All the companies, small or big, can be benefited from outsourcing their accounting services. But many still believe that there are more negatives to it than positives. Many firms believe that their data will be at stake if they outsource their accounting needs, while some believe that small outsourcing teams cannot handle large IT data. […]