Even as freight transportation costs continue to be on the upward trend year after year, every business regardless of its scale must think of different ways to push down the cost of transporting goods from one point to another. Every shipper's challenge in relation to...
There are a number of aspects that are crucial to the sustainability of your business and sales, purchases, earnings and expenses are some of them. The only way you can keep proper track of these details is to have effective bookkeeping processes in place; not...
When things become very hectic, most small and medium business owners wish they could manage to squeeze in more than 24-hours into their day. It's not uncommon for your "to-do" list to become so lengthy that you never get to focusing on each task as...
Most small business owners struggle with their cash flow at some time or the other. When they try to unlock funds, they find it affects their operational capacity. If you are facing cash flow problems and are looking for ways to channel some money into...
Cutting costs can be an excellent way to improve your business' profitability. Introducing various well-planned cost-control measures can bring in tangible savings and it also ensures that this profitability is sustainable. However, for that to happen, it's important that the cost-control measures are very carefully...
Many businesses use ISDN or PSTN for their phone systems; and if that's what you are using, it's time for you to consider switching to a system that will be not only more efficient, but cost-effective as well. Regardless of the size of your business,...
When your business is thriving, you probably don't think too much about your costs. We don't really attempt to fix things that aren't broken now do we? But the business landscape has its peaks and troughs and there are times when financial conditions take a...
Many small businesses work on a very tight financial base and business owners find that when they try to implement any cost-cutting measures in their company, it impacts the efficiency of their business. But all's not lost and there are a number of effective ways...
When you've run a successful business for a while and reduced all major costs as much as you can, you can sit back and relax a bit can't you? What would you say if you realised that perhaps, you're inadvertently leaving money out there on...
One of the major trends last year, within procurement, was Key Performance Indicators (KPIs) and how the outcomes can be measured. If you are a business that offers services within procurement, the 4 main value-added areas your business has to be measured against include: Value-added KPIs #1...
