The subscription business model is on the rise, with 70% of business leaders saying it will be critical to their growth in the coming years.
This model is not new, but new technology is driving growth. Just think of the growth in streaming services and how smartphones have made subscriptions more accessible globally. It’s also taking root in industries where it hasn’t traditionally, like manufacturing and specialty markets.
But what’s fuelling growth besides technology? How can you ride the wave? Here’s what you need to know.
No company can totally avoid the impact of increasing costs. But there are strategies that can help companies remain profitable while keeping their customers happy.
When the cost of doing business rises due to factors, like supply chain constraints, labor shortages, and inflation, customers often bear the brunt as companies frequently raise prices to cushion the blow.
However, there are strategies to control costs, keep prices in check, and keep customers happy. Here are 10 business strategies to consider.
Inventory management is all about having a system for storing and selling inventory. Combined with accounts payable and accounts receivable, it amounts to more than $1 trillion in assets. Inventory management starts with the sourcing of raw materials and ends with the selling of your products. With a good inventory management system, you will have the right amount of materials at the right time, at the ideal price.
But it’s not enough to have a good inventory management system. If you want maximum efficiency for your business, you should think about integrating your inventory management with accounting. If you are running a multinational business, then you should make that integration a multilingual one. Just by having inventory management software alone, you already have an advantage. That’s because 43% of American businesses are still not tracking inventory. Or if they do so, they do it manually.
In this article, we will go through the best practices for integrating your inventory management and accounting software. We will also look into adding a multilingual component to the integration with the help of a translation company.
Dawn Brolin is the President & CEO of Powerful Accounting. The accounting community has been suffering for the past 18 months, and small businesses have been feeling that same pain and relying on them to survive the pandemic. She decided to ensure her Connecticut firm would thrive during COVID-19 by putting the right technology in place.
Her books, The Designated Motivator and The Designated Motivator for Accounting Professionals, are designed to give businesspeople the push they need right now. Although we can’t tell the future, we can help clients glide over speedbumps as they come up by presenting them with the best-of-breed technologies now, not later.
Brian Hayes joined NOW CFO as a consultant in 2014 and quickly became a partner in the firm. He was instrumental in opening new markets in San Antonio and Austin, Texas. He then became a Regional Partner in the Salt Lake City, Utah office with responsibilities managing offices in Utah, Idaho, Nevada, and Arizona. In May 2021, he was promoted to Chief Financial Officer of NOW CFO and manages all accounting and finance functions for NOW CFO and its offices nationwide.
Hayes has worked in multiple industries, providing accounting and financial leadership. He started in the structural fumigation industry where he was responsible for financial and operational management in San Diego, California. He moved to Utah in 2012 and shortly thereafter, started his own accounting firm and was quickly hired by a client to become their controller and operations manager. His influence was key in helping to negotiate a large purchase and merger of a fruit processing facility in Brazil. During this time, he completed his education.
His experience includes price modeling, inventory management, nonprofit accounting, land development, construction accounting, cash-flow management, financial statement preparation, as well as managing and growing businesses through mentorship and sales leadership.
He attended Colorado Technical University in Colorado Springs and obtained his Bachelor’s of Science in Accounting and his MBA in Finance.
Fishbowl invited several QuickBooks experts to share their thoughts on the accounting software, industry, and more. The participants in this panel are:
Beverly Lang, Senior Director of Integrated Services with Fishbowl
Robin Hall, President & Principal Consultant of VARC Solutions
Bobby Morrison is the Chief Revenue and Sales Officer at Intuit. He’s going to talk about exciting things happening at Intuit and their partnership with Fishbowl. Their goal is to work with small businesses and help them prosper.
