The cost of everything’s projected to go up next year – including the healthcare plans you fund for your employees. A recent analysis from Aon can give you an idea of just how much you should expect to shell out for health coverage in 2023. Healthcare costs are expected to increase an average of 6.5% […]
How are your business expenses compared with those of your peers? Recent benchmarking data from finance automation platform Ramp can help you see the areas where other companies are cutting back and what they’re prioritizing to help you make better spending decisions in the current economic climate. Ramp looked at how companies spent money in […]
To effectively fight inflation right now, optimization of your company’s working capital needs to be top of mind. “You don’t want to overlook profits or ignore profits, but it’s really all about cash. Cash is something [that] once you spend it, you can’t unspend it,” said consultant, author and former CFO Carl L. Young during […]
Your company credit cards can be a breeding ground for fraud via unauthorized usage, especially if there’s only one person in charge of managing charges and transactions. Lessons learned from two recent cases where companies were scammed out of hundreds of thousands of dollars through improper company credit card usage can help you bolster your […]
You know from experience that controlling costs and increasing profits for your organization takes more than just creating a budget, regularly analyzing it for variances in projected vs. actual spending, then making adjustments. You may have tried shopping around for new suppliers, renegotiating vendor contacts, adjusting production levels, re-evaluating your real estate profile or even […]
More organizations like yours are moving various operations to the cloud, including key Finance and HR functions. And while that comes with convenience – and potential security risks – cloud costs can be expensive for companies if the migration process isn’t monitored closely. Companies shifting their processes to the cloud often have issues controlling cloud […]
The state of small businesses can give companies of all sizes insight into how to weather the economy right now, particularly the challenges caused by inflation. Specifically, cash flow is a significant concern for small businesses. Nearly 40% would have to cease operations in just two months if their cash flow dried up today, according […]
As COVID restrictions continue to ease, business travel is increasing. Unfortunately, it’s also being impacted by the current economic climate – and you should expect prices to keep rising for the remainder of the year and the beginning of 2023. That’s according to the 2023 Global Business Travel Forecast from CWT and the Global Business […]
Energy use consumes between 30% and 35% of the average commercial facility operating budget. When you factor in fluctuating oil and natural gas prices, that percentage can change. Reducing usage can help. But some companies create new problems when they slash energy use across the board. For example: Lowering the thermostat too far can hurt productivity – […]
