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Fighting Business Fraud with CRIME – Part 2 of 3
After reviewing and implementing control activities, businesses need to run a risk assessment on their organization. A risk assessment identifies and analyzes both external and internal risk factors....
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Are Paper Checks a Thing of the Past?
A recent article featured on the Proformative Website explores the possibility of the extinction of paper checks in the near future. The article cites the Philadelphia Fed Study, which found that since...
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Fighting Business Fraud with CRIME – Part 3 of 3
In this third installment of our three part series on fighting business fraud, we are covering the “M” and “E” of the acronym CRIME, which stands for the five components of a successful system of...
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How Automation Can Streamline Your B2B Payment Process
According to a report by the Aberdeen Group, 10 billion B2B transactions are processed in the United States annually. As the B2B industry is rapidly growing, this number is expected to rise...
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QuickBooks Online or QuickBooks in the Cloud – What’s the Difference?
A large percentage of small and medium sized businesses use QuickBooks® as their bookkeeping and business financial management solution. Since its release in 2000, QuickBooks has quickly become one of...
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PLAN to Increase Cash Flow
Getting a better handle on your cash flow is imperative for small and medium sized businesses as cash is the lifeblood of a business. To do so, you need to make sure your business has a PLAN in place...
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Preventing Business Fraud: Network Access Best Practices
Access to your company’s financial information shouldn’t be openly available across your organization. Part of implementing a system of controls is restricting access to specific personnel and...
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Divide and Conquer Business Fraud with Separation of Duties
A key internal control for reducing the risk of business fraud is the separation (or segregation) of duties. While it is a basic internal control, it often is very difficult to implement successfully....
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Stop Potential Cash Flow Shortfalls Before They Happen
When your service business takes on a couple of bad clients who have financial issues of their own, their cash flow problems can quickly become your cash flow problems. It may seem like a lot of work...
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Additional KPIs to Track for Your Service-Based Business
Companies, regardless of whether their business model is focused on selling products or services, all have similar financial reports. Buried within these reports are key performance indicators (KPIs)...
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