The legislative environment in which a company operates is one of the external factors that no business can afford to overlook. And even if you’re sure that your business currently complies with the law, or was compliant with it a few months back, laws can and do change. Although you might want to heave a […]

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It’s a scary scenario: your business’ information systems get hacked, and credit or debit card information is stolen. It has happened to some of the biggest companies, and you can bet it sent their customers into a frenzy of worry when the information was finally made public. But passing a PCI compliance audit shows that […]

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Getting orders and getting cash both sound like things any business will like, but there’s many a slip between getting an order and actually getting the cash in your bank account. We look at the order to cash process, what it is, ways in which it fails, and the high road for managers hoping to […]

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Operational Risk Management is a methodology for organizations looking to put into place real oversight and strategy when it comes to managing risks. Every business faces circumstances or fundamental changes in their situation that can be seen as presenting varying levels of risk to that business, from minor inconveniences to potentially putting its very existence […]

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If you’ve worked in a corporate environment or within the financial or supply industries, you’ll be familiar with purchase orders. Whether you deal with them on a daily basis or it’s just a phrase you’ve heard from time to time, how much you might know will vary but there’s still lots to learn about the […]

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Regardless of what the circumstances are for your business, it is always a priority to find ways to reduce operational costs. Doing so is the most efficient and effective way to save money without necessarily having a negative impact on services being rendered to customers or on salaries being paid to staff. Rather than causing […]

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Total cost of ownership is the sum of the purchase price of an asset plus operating costs for its lifetime. A simple example would be the cost of owning a car. You can buy a car, but you will still need to pay license fees and insurance premiums, and it must regularly be serviced. You […]

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With the help of audit management software, an audit can be completed with greater efficiency. This leaves more time for auditors to qualify results and provide constructive feedback. Below are the top 12 benefits of audit management software. User-friendly Design An auditor’s ability to quickly adapt to a new software system is a key driver […]

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When you own your own business, it’s essential to make sure that it’s secure and free from potential risks. These risks can come from a variety of sources from employees and customers to competitors and cyber attacks. Other risks come when you decide to make investments in new business-related expenses. All of these expenses need […]

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One of the things that make your company successful is your ability to pay your bills and pay them on time. In the accounting world, the money that your company owes to others is called accounts payable. These accounts payable can be for materials that you’ve ordered, inventory that you’ve stocked, rent that you owe, […]

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