Blogs

If you’re investing in cloud accounting software (which we encourage you to do), it’s imperative first to understand precisely what to look for in the right system for your business. Otherwise, you risk starting fresh with a new system, missing out on critical features and benefits, or paying for features you don’t need and won’t use.

Online ERP software is a game-changer. They can transform your organization and provide it with the foundational tools it needs to optimize operations and achieve exponential growth. But, implementations can be complex, even if this is not the first one your organization has carried out.

When financial statements are precise and up-to-date, they become almost invaluable. Conversely, inaccurate financial reporting can do serious damage. Even if inaccurate figures don’t destroy your business, they should still be prevented at all costs.

Although flawed data doesn’t always mean the end of a business, it still makes good sense to prevent it. After all, inaccurate financial reporting can result in huge setbacks that require significant amounts of time and resources to correct.

Of the many different financial statements professionals might deal with on any given day, one of critical importance is known as the contribution margin income statement. What makes this statement so important is its ability to show profit potential. It serves as a specialized document in financial analysis that strips down revenue into critical components and provides an at-a-glance view of a company’s variable and fixed costs relative to its sales. 

We’ve tailored this guide for finance professionals hoping to deepen their understanding of this tool and leverage its benefits for more informed decision-making.

Imagine if business owners could gaze into crystal balls to see the future. Wouldn’t that make business infinitely easier? Knowing exactly how many employees you need to hire for the high season and just the right amount of inventory to order so that nothing goes unsold.

Unfortunately, there’s no such thing as a crystal ball that can show you the future. But advanced technology has given us powerful data collection and forecasting BI reporting tools that can enable business owners to forecast the future with remarkable accuracy.

Are you curious about what Business Intelligence (BI) reporting tools are and how you can use them in your business? Here’s how it works.