Inflation fears and shrinking credit availability are prompting many companies to limit spending on areas like corporate travel. If your organization is approving fewer trips for industry expos, conferences and outside training, the latest data shows you're not alone -…
Cost Control
"Cash is king" is drilled into finance professionals' heads from their first day on the job! And there's a great reason for that - companies that can tap into an optimal amount of cash at the end of every month…
Asking for staffers' input helps increase morale and boosts teamwork. It also leads to great ideas that help companies make and save money. Not all supervisors remember this on a regular basis. It's easy to get tunnel vision and focus…
What’s one of the first things people notice about a company's headquarters? It’s right under their feet – floor surfaces. That’s why even when you’re under pressure to keep costs down, you can’t afford to scrimp much when it comes to…
You're skilled at keeping simultaneous track of your company's profits and costs, including business operating expenses. Case in point: You can probably calculate your gross profit - revenue subtracted by the cost of goods sold - with little effort. But…
With an unclear economic picture for 2023, it's important to take advantage of opportunities to make your business more efficient. But your spend management – which may be hindered by manual processes, and paper receipts, card statements, expense reports and…
In an economic climate where you might have to do some belt tightening, a cash leak from internal theft is unacceptable. However, according to Aaron Evett, director of implementation of the expense management and business budgeting software company Divvy, a…
There are a lot of differing opinions about the economy right now because the indicators contradict each other. For example, inflation keeps reaching all-time highs, yet consumer spending is strong. Also, the GDP declined two consecutive quarters (but increased 0.6%…
One underappreciated advantage for attracting talent and minimizing costs is setting up shop in a business-friendly state. Higher-than-average tax rates, whether it's for property, individual income, sales, corporate income or unemployment, take a big bite out of profits. With no…
It may be wise to evaluate your 2023 T&E budget one more time because hotel prices worldwide are expected to go up again, according to American Express Global Business Travel. A combination of pent-up demand for in-person meetings and ongoing…
The coronavirus pandemic reinforced lessons that experienced CFOs knew but might have taken for granted. For example: You're better off not relying too heavily on one vendor for critical company needs. You never know when a vendor may be in…
One nice thing about fixed expenses is that they stay constant and usually don’t fluctuate. The bad news, they’re usually set in stone and can’t be cut if you’re looking to lower expenses. But according to Aaron Evett, director of…
