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Financial Technology Levels the Playing Field for SMBs

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PostcardMania's Multi-Channel Tech Investment a Hit Among SMBs; Demand Exceeds First Quarter Projections 234% and Causes Hiring Spike

By Bill Thompson, Financial Applications Analyst, Centage Corporation

For a long time, access to public accounting resources has been a case of the haves vs. the have nots. The Big Four accounting firms attract the best minds and college graduates in financial accounting and strategy and build elite teams of experts in market verticals. These teams are thoroughly positioned to help clients pinpoint new opportunities for growth, maximize efficiencies and outwit their competition. Of course, only the top tier of the Fortune 500 companies, like Walmart, can access these resources. Smaller companies, like a regional retailer with 10 outlets or less, will never have access to those teams. True, the Big Four will take on the accounting and auditing work of smaller companies and deliver excellent tax returns and audits. But they won’t look beyond the raw data for the kinds of insights that are game-changing. There is also a cost-to-benefit issue, as one can very well spend more on analytics than they are worth. This puts SMB companies at a disadvantage.

Bill Thompson

Bill Thompson

Fortunately, emerging financial technology is changing that calculus by providing SMBs the ability to access the kinds of data-driven insights that are so critical for enterprise-class businesses. Given the importance of the SMB market in the American economy and job growth, that’s a positive development.

To understand why this is monumental, let’s step back and look at the way things once worked. I started my career working in a small public accounting firm, though our clients weren’t particularly small; some had $70 million in annual revenue. The skillsets we offered were limited: accounting, auditing and taxes. We had no vertical expertise, no ability to observe the unique nuances of an industry and offer strategic insights. That didn’t worry us too much as we assumed our clients were experts in their markets. They could easily glean plenty of insights out of their data just fine on their own, right?

What we didn’t realize is that for them, running a business day to day is all consuming. They didn’t have forty hours to spare to examine tax returns for hidden market insights.

And if I’m honest, even if my old firm had the vertical expertise to advise clients, we weren’t in a position to deploy it. Spending hundreds of hours entering line item data into a tax return puts a person deep into the weeds, and unable to see the big picture. That’s just human nature.

FinTech Automation

Over the past decade the market has seen a new generation of technology emerge in the Financial Planning and Analytics (FP&A) space. One of the most beneficial aspects of this technology is the degree to which it eliminates the need to enter data manually year after year after year. A financial team, or their accounting firm, can build a model of the business just once, and then the data from all points of the business are integrated (e.g. the the G-L, ERP system, etc.). As a result, the financial teams of these small companies (or the accounting firms that serve them) are freed up from a lot of busy work, giving them the time and space needed to think big picture.

Back when I worked for a small accounting firm, I never once considered metrics that are essential to our clients but fell outside of accounting, auditing or taxes. When I audited a retailer, I wasn’t looking to see if it was using 100% of its available space or calculating the revenue per square foot. We never even looked at that data, much less offer ways to optimize floor plan usage. But innovations in analytics software lets CFOs and accountants analyze metrics in numerous ways using real-time data from the business. Suddenly they can ask things like: what’s our floor plan use going to be? If we eliminate space set aside for operational purposes, what kind of revenue lift can we expect to see? It’s not just about revenue anymore, it is revenue tied to operations at a granular level. The more granular the view, the better the outcomes.

Manufacturing companies can also benefit from emerging financial technology. For instance, they can budget and plan on a per unit basis and analyze by SKU to see where profits are less than ideal, or which products are too costly to produce. If they have a loss, they can analyze each line item for each product made and isolate variables. This is pretty powerful.

Thanks to these advancements in fintech tools, all of this information is accessible and streamlined for the busy SMB owners and operators. This gives them the ability to compete with the likes of, say, Walmart.

The secret to growth has always been top notch FP&A analytics, and emerging financial technology is beginning to democratize those analytics. In a very real sense, the Fortune 500 companies working with the Big Four firms no longer have exclusive access to the keys to growth. SMBs can now play on a level field.

Bill Thompson serves as Financial Applications Analyst for Centage Corporation. He is an expert in corporate finance and accounting, with extensive experience in financial controls, corporate and partnership taxation, audits (Cash/AR/AP/Fixed Assets), reporting, financial systems, cost containment, budget management and tax strategy consulting. At Centage, he spearheads solutions deployment, client onboarding and product functionality training for Centage’s Planning Maestro, the cloud-native planning & analytics platform that delivers year-round financial intelligence. With Planning Maestro, Centage offers the sophisticated features needed by small and mid-market organizations to integrate budgeting, forecasting, and deep data analysis within one easy-to-use, scalable SaaS solution. Follow on LinkedIn or Twitter @centage.

Business

Motivate Your Management Team

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Motivate Your Management Team 1

A management team, typically a group of people at the top level of management in an organization, is a team of people in the top level of managerial leadership of a business or an organization. It may consist of one person at the top level or more than one person at the top level. In this article, we are going to talk about what it takes to become a successful manager of a company and the different types of managers that can be found.

Team members will usually work in teams of two or three people. They will work together to accomplish a specific goal that the organization has set for them. These goals and the ways to reach them vary. Sometimes a management team will work in teams to achieve the same goal but in different ways. Sometimes they will work in teams to solve a particular problem.

When a team begins working, they will usually meet for the first time at their office building or another place where they will gather. They will be given a specific mission statement that they will be working towards. There will usually be meetings on a regular basis so that the team can discuss what they have done so far. If there is anything that needs to be worked out, this meeting will occur to ensure that all questions have been answered.

When it comes to meeting deadlines, there are often things that the team members will need to do in order to meet their deadline. They will have to come up with the proper solutions. Once they have done this, the next thing that needs to be done is to ensure that the other members of the team are aware of what the solution is.

Sometimes, the team members will meet at different times. This is very common for people who will have different duties and who are not always available at the same time. They can meet at random times but it is very rare for there to be meetings that occur during the night. Sometimes these meetings are held after lunch and sometimes they happen after dinner.

When the team members meet, they will need to be organized. They will need to take all of the necessary items and papers to the meeting and not leave any behind. The meeting will begin with a presentation that will be made by the team leaders that will describe what they have done so far.

After this presentation, the team members will then have to sit down with the other team members to discuss what they have discussed. This is often a very productive way to get everyone talking about what they have accomplished so far.

To be a good manager, you must be able to organize yourself and your team. This is also necessary in order for you to be able to motivate your team.

One of the ways that you can motivate your team members is by encouraging them to get things done that they want to do. By doing this, they will be able to get excited about what they are working on. The excitement that they will feel will motivate them to work even harder and to complete the task as soon as possible.

Another way that you can motivate your team members is to give them rewards. In this case, they will know that there is something for doing a great job. They will know that if they have good performance, there will be a reward for their hard work.

It is also important for you to provide support to your team members. by helping them find jobs and making sure that they are able to find employment. This will encourage them to be self-motivated and to perform better on their jobs.

When you provide support to your team members, they will feel valued and respected. This will allow them to feel as though they have an employer who is willing to put in a lot of effort in order to help them get what they want out of their jobs.

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Business

The Income Approach Vs Real Estate Valuation

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The Income Approach Vs Real Estate Valuation 2

The Income approach is only one of three main classifications of methodologies, commonly referred to as valuation approaches. It’s particularly popular in commercial real estate valuation and other business valuation. The key difference between the three methods is that the Income Approach relies on the idea of income as a measurement rather than an absolute number.

As with all three different types of valuation methods, the underlying assumption is that price is determined by cash flows. This means that in order to determine the value of a particular asset or business, there must be an exact amount of money spent. When an individual or firm makes a purchase, they will pay money for the product and they will make payments for the privilege of continuing to use that product over time. These payments are called “cash flows.”

Real estate appraisals are based on this simple concept. There are many realtors who work at the level of measuring the net worth of a home or building by considering the current mortgage and interest owed on that loan. The appraiser uses these numbers as the basis of his or her opinion about the fair market value of the property.

On the other hand, when the method you choose is the income approach, the appraiser focuses instead on the income earned by a person or entity. This can be based on both sales volume and earnings of each employee. A company may use the income approach to calculate the value of its inventory and accounts receivable based on the income earned by the company or group of employees.

The basic concept behind the approach is that cash flows should be considered as the basis for making decisions about what kind of business or service is right for a person or group. These cash flows include the income earned by employees, purchases made by the company, and the sales volume of goods or services produced by the company. The income model is often used to value homes, businesses, real estate, and other valuable assets. in order to determine their fair market value.

The primary difference between the realtors’ method of valuing the home and that of the income approach is that the former considers only one way that the value is going to change in value over time. While realtors look at the home’s market value to determine if they can sell it and the approach works out the value of the home by using the current sales price plus the future sales price plus some percentage of the gross value of the home, the income approach values the property only by the amount of money paid out over time. on monthly or annual payments. The difference in the two approaches is that the realtors use the gross value of the home as their basis and the approach uses the net cash payments.

Because of this difference in the valuing models, some people prefer the income approach over the realtors’ approach. Because realtors’ models involve an element of forecasting, they aren’t as helpful in determining the fair market value of a property, and they are not very useful in making long-term financial plans. On the other hand, the income approach can be very helpful in helping you decide if your home or business is worth buying.

While tax benefit of the income approach can also play a part in determining its value, it will not be nearly as large as the tax benefit of the realtors’ approach. In addition to providing tax benefits, the approach allows the person or organization to buy a home or business that is under-priced because it may increase their tax benefit. in the long run. Because this is not the primary reason that most realtors use the approach to value properties, it is not as well known as the realtors’ method, but it can be very useful for some people who don’t want to invest a large amount of time in planning their future, so they may want to consider it.

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How To Create A Leadership Philosophy

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How To Create A Leadership Philosophy 3

A leadership philosophy describes an individual’s values, beliefs and principles that they use to guide a business or organization. Your leadership philosophy can be based on your personal traits and beliefs or it can be based on what you believe is best for the organization you work with. In order to improve your management style and leadership style, you need to understand your leadership philosophies. It can either help or hinder you.

Your personal philosophy, or personality, is largely influenced by your personal beliefs and character. It helps guide you and keeps you on track. If your personal philosophy supports the goals and mission of the organization, it will motivate you to pursue those goals. If it doesn’t, it can hinder you from achieving your goal. Your personal philosophy can be as varied as your own personality and beliefs.

A good leadership philosophy can be created through the development of personal values, goals and dreams. Through this process you will discover that some personal values are important and others aren’t. You can make the difference and decide which ones are more important than others. Once you have a firm foundation established, you can move on to finding a way to achieve your objectives.

Personal philosophies need to be examined in terms of their relevance to the organization’s mission. Your leadership philosophy needs to be based on whether the organization or the leader wants to help people or just help themselves. If it is the former, then your personal philosophy should focus on providing the resources needed to make it happen. If it is the latter, then your personal philosophy should focus on helping those who need it most.

Another part of your personal philosophy should look at the individual needs of the organization. If the organization is looking to help the underprivileged, your leadership philosophy should be focused on assisting them in getting a better education so they can get a better job and earn more money. This is a prime example of a personal philosophy that would not benefit the organization in any manner.

Leadership is a process, not a person. Leaders need to be willing to change and adapt in order to get the job done right. Leaders should always try to learn from the past mistakes and try to improve on the mistakes that they made. have made and this is not possible if a leadership philosophy doesn’t allow them to grow and change as individuals in the organization.

Your personal philosophy should be aligned with the values of the organization in which you are working with. You need to create a vision that your organization has. Your vision can be anything from the improvement of the organization to the success of the employees. Your vision can be a company motto, mission statement or a corporate image.

Leadership isn’t about being the leader of all or nothing. It is about bringing in the right people to make the organization the best it can be and growing it over time. There are a lot of people who are qualified to lead an organization but don’t get the opportunity because they don’t have the right leadership philosophy. The more qualified individuals you can hire, the higher your chances of success and the better results you will see.

The best leaders aren’t the ones who walk into the building and are the leader but are the one who goes out of their way to show the organization how they feel. They do something that no one else in the room is doing. They give their time and effort in order to make their organizational goals come true. They work hard and are willing to do the work, but not do it for others, they do it for themselves and they don’t let anyone else take advantage of them.

Creating a leadership philosophy can be a good idea to help you in building your leadership team. When you create a good leadership philosophy, it creates a level of respect and integrity within the organization.

Developing a personal philosophy can be very beneficial to an organization. It can be the thing that gives your organization a sense of self worth.

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