Cost Control Using an Integrated Purchase Order and Inventory Software

Controllers: Do you have the know the exact value of the inventory you are carrying? Do you know how your company is allocating purchasing inventory across the different locations? If you answered No to any of the above questions, you are not alone. It is obvious that companies have a good handle on the resale […]

How to Reduce Cost by 9 -15% in These Turbulent Times

Cost Reduction for any business is a challenge but more so in turbulent times  Business today operates in a lot of uncertainty. Whether it is the current COVID-19 situation or any other Black Swan event that can push the economy towards a downturn. A Black Swan event is a rare event with severe consequences. It […]

Purchase order process for your startup [Complete Guide]

Purchase order process for startups? Yes, you read it right. We are talking about why a startup should think about setting up a purchase order/purchasing process and how it can help startup’s with cost control and spend visibility when you need it the most.  We live in an era when you can start certain types […]

Purchase Order Approval Process [Secret to cost control]

Bonus Material: Purchase Approval Process Template Are you struggling with setting up an effective Purchase Order approval process? Maybe you have read through multiple articles that tell you that it should only take 5 minutes to set up a purchase approval process but you still don’t know where to start? Or you already have a […]

Building a business case for procurement and invoicing automation [Template Included]

The business case for procure to pay automation Procurement and Accounts payable automation has many benefits including productivity improvement, process cost reduction and so on. However, Like any other investments, companies need to justify the investments to the finance team for such an initiative. In this post, we will cover the key benefits of purchasing […]

9 Expense management strategies for CFO’s

What is Expense Management? Expense management refers to the process of setting up policies for employees travel and entertainment expenses, setting up processes for reimbursing employees and then having greater visibility to control travel and entertainment expenses for the whole company. Why Expense Management is important? T&E (Travel and entertainment) expenses is often a big […]

Lowering operating costs in 2019 – Strategies for mid-market companies CFO’s

Lowering operating costs shouldn’t only be CFO’s (Chief Financial officer) job. Unfortunately, in most companies, that turns out to be CFO’s main priority given the corporate mandate. But for the savings to stick, CFO’s need to have cost reduction as a repeatable and sustainable process. We urge CFO’s to view cost reduction and especially operating […]

Why mid-market companies should automate the purchasing process

Large companies ($1bn + revenue) have a high volume of purchasing activity, whether it is the number of purchase orders generated, suppliers, or the number of invoices processed by the A/P department. These companies have implemented an automated purchasing system which automates most of the activities in procure to pay (P2P) process. They are reaping […]

5 Tips For Cutting Cost and Improving Profitability

Cash flow represents the amount of money coming into your company and the amount of money going out. It’s extremely important for small businesses. Cash inflow is the core of your company and comes from different sources – payments from customers, interest on savings or investments, receipt of a loan, monetary infusion from an investor, […]

10 Ways for SMB’s to reduce Employee benefits cost

For businesses for all sizes, employee benefits is one of the top spend category. Large companies can somewhat control and reduce employee benefits cost by leveraging the volume discounts but for small to medium business that is not an option. Also given the recent changes due to Affordable care Act(ACA), SMB’s benefits cost will further […]