Technology is evolving at a bewildering speed. As a result, organizations face a tough feat of keeping up with a highly dynamic environment. It involves adopting the changes in technology as they plan or craft their development strategies. Consequently, treasury leaders also bear the brunt of rapid changes because they are key partners of these organizations. Since organizations transform at different levels, more specialized, flexible and scalable solutions are needed. This heaps pressure on traditional banking partners and vendors. They are looked upon by treasury professionals and in...
Before technological advancement maintaining a business’s books required you to record figures in a paper ledger. But today, entrepreneurs use accounting software to predict sales, manage inventory and most importantly, to track the business’s revenue. There are so many types of accounting software available and choosing the right one for your business can be difficult.
Accounting Software Options
There are different software options available for both small and mid-sized companies such as:
- Cashflow Manager
Factoring can be defined as the discounted selling of receivable accounts by the owner of the business to another party for the purpose of raising funds or to source capital. The third-party in the business transaction is the one termed as the factor. Factoring is among the oldest types of financing a business. It is used as a tool for cash management for several companies. It is widespread in some industries like the clothing sector and where the business cycle involves long receivables. Although it is considered an expensive method of financing, the method has still managed to become more...
There is an abundance of accounting software on the market, and they are all different in their own way, just as every company is different. Some of their aspects will be essential to certain types of businesses, but the structure of each company also dictates the needs of the accountant and the business. The best way to approach selecting the right software is to think broadly and narrow down from there.
Cost – Start Up and Continuing
First, it is essential to look at the cost of the software, not just the start up costs, but keep an eye on the costs for additional...
In recent years, electronic invoicing, also known as e-invoicing, has gained momentum in businesses as well as governments all over the world. Consequently, not a single year in the last decade passed without being declared the year of electronic invoicing breakthrough. The technology has even been recognized as an important development in Europe.
E-invoicing is not a new concept as it has been implemented successfully in many countries. However, there is need to further develop the process to increase the volumes of electronic invoices.