Author: Jennifer Brazer

Family Finances – In the Light of Parenting

Parenting is certainly no easy feat. Throughout raising your children, you will hear great questions—from extremely silly to surprisingly technical —to which you may not have answers. Or perhaps, you will feel reluctant to answer them. No instruction manual can teach you the precise way to handle challenging situations when it comes to children. Even the parenting manuals written by the smartest people in the world can never guarantee you 100% positive results. Two of the most challenging conversations that give parents cold sweats tell your kids about family finances and telling your kids about the birds and the bees.

Undoubtedly, both discussions have repercussions as kids don’t have the brainpower to understand them yet wholly. Being a parent, you must learn wise answers to spontaneous questions to tackle difficult situations. It’s a tough job, no doubt.  However, we must establish ourselves as steady and honest mentors in our children’s lives as a parent. Plus, building a platform of strong and effective communication with a conclusive dialogue is critically important. Your kids deserve to know the truth, but sometimes the truth needs to be watered down a bit for their minds to wrap around it.  As a parent myself, I know how hard this can be.

Managing the Resources at Disposal

Not every family is privileged enough to have an excessive amount of finances, which means that they have to stay within a budget that they have defined each month. Along with money constraints comes natural worry and concern. And that worry mostly revolves around managing your family and kids. Moreover, young children aren’t always capable of understanding the clear picture of family finances. Those who do understand are either older, incredibly smart, or have a brilliant sense of evaluating things on their own. However, it’s important to let kids be kids.  While it is okay to teach them that money does not grow on trees, they shouldn’t take on the heavy burden of worrying about money each month.

Changing Perspective

Their social environment and peers strongly influence kids. These influences often lead them to ask dicey questions that may feel uncomfortable to answer at times. For example, ‘Dad, why do we have an old car, whereas my friend John’s Dad has a Mercedes?’, ‘Mom, why do we live in an old house?’, etc.… Such questions are hard to answer as your kids aren’t yet exposed to the realities of life. Perhaps they are too young to understand financial matters or money-related issues. It’s essential always to keep the lines of communication open between you and your children. You never want them to be afraid to ask you questions, even the tough ones.  When these arise, change their perspective. Even from an early age, children can be taught that things are just things and are not an accurate representation of what family means.

Family Finances – What and How They Should Be Told?

Most kids below the age of 5 are understandably clueless about money. It is a change in approach, attitude, and belief that has encouraged parents to let their kids know about money matters in a family. However, different parents and even child experts bear different perspectives regarding this matter. Some argue that children should never be told about how much you earn, which parent makes more, who owes money, how much you spend on different occasional activities, etc. To the extreme, some parents also believe that children should never be told about family finances or anything else regarding family earnings and spending at all.  Ultimately, of course, it is up to you how you handle the money talk.

There are times when families may find themselves stuck amid financial crises, disrupting their regular monthly budget. In certain situations, it is better to share hardships with your kids to understand why things may look a little different from time to time.

The Younger Ones

Between the ages of 2-4, young children don’t have the brainpower to understand things well. To them, money talks may sound like Chinese.  Therefore, attempting to share any financial information with them would yield no significant impact, no matter how hard you may try. Child psychologists worldwide recommend not sharing family finances or anything relating to money to children of such a young age because it is unhealthy for their brains.

The Older Ones

When kids get older, they understand things more thoroughly. This means that you can breathe a sigh of relief and share money-related issues with your family, especially the older kids. Older kids have the brain capacity to evaluate and understand things, which means they will better understand whether they can afford to buy a particular thing. As a parent, you need to teach your kids how to make optimal use of scarce resources to know the significance of money and savings. Sharing may be called caring, but when it comes to family finances, it should be shared with kids when the age is right—not before that!

Conclusion

Family finances are often kept private by parents because they don’t want their children to feel specific money-related pressures from an early age. However, as soon as kids grow older, they need to be told about finances to begin to understand the value and worth of hard-earned money.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Organizational culture outlines how an organization’s employees intermingle with each other and how they complete their tasks. The corporate culture revolves around beliefs, symbols, values, and rituals that oversee and rule employees’ working style.

Corporate culture is binding the workforce together. It also gives a direction for the corporation.

If changes occur in an organization, any business’s biggest challenge is a cultural change since the employees have become accustomed to how the organization is already carrying things out.

Why is Company Culture Important and Why Does it Matter?

Company culture is an essential aspect of any business. Employees are much more likely to love and relish their time in that workplace when they find themselves fitting in with their culture. Employees will also be inclined to enjoy doing their work when they see that their values and needs are consistent with others. They tend to grow and improve their relationships with their coworkers, making them even more productive.

If an employee works in a company where they don’t seem to fit in and adjust to the company culture, they are more likely to get less pleasure from doing their work. Let us take an example of this scenario. If an employee prefers to work independently but happens to work for a corporation that stresses teamwork, that employee will be more likely to be less efficient and less happy.

If you happen to work at a corporation with a traditional management style, you will find your job responsibilities very clearly defined. There might not be as many opportunities to develop and advance without going through their transfer process or formal promotion compared to a more casual place of work, where employees will have more possibilities to take on fresh, new projects and additional roles.

How does Company Culture Affect a Working Environment and Employees?

1. Impact on Employee Performance

Exactly how does the culture of a company impact individual performance? A company’s culture should be widely communicated and strongly reinforced to deliver a competitive advantage. Each one of the employees must share their beliefs and values.

In an organization where the culture is strong, the employees feel valued. The staff enjoys the control they have over their jobs. They don’t feel powerless. Whether by working at home or selecting their projects, employees who feel valued can make decisions that help achieve a much more significant performance level.

2. Impact on Employee Satisfaction

Positive company culture can ensure that its employees are satisfied with their jobs and loyal to the company. This loyalty can be beneficial to a company that has a competitive hiring atmosphere. Employees are more interested in becoming a part of and staying with an organization where the company culture promotes employee development, offers flexibility, and supports a work-life balance.

By improving and working towards employee satisfaction concerning a supportive and strong company culture, there can be a drastic decrease in recruiting, training, and hiring expenses. At the same time, it will improve the morale of employees and increase profits.

3. Impact on Employee Engagement

In companies that have acceptable communication practices, employees know that their ideas and opinions will be welcomed. If employees feel that they have been heard, they do not carry a resentment, which eventually leads to negative morale, absenteeism, and termination. Communicative company culture will lead to innovation, greater participation, and creativity in the organization. Once an employee is hired, educated, and oriented to the organization, they feel energized, supported, frustrated, and undervalued. When employees feel valued, they are more willing to be enthusiastic, involved, and engaged.

Conclusion

In conclusion, organizational culture is the foundation of how employees interact and execute tasks. It shapes the working environment, influencing individual and collective performance. The significance of a positive company culture is evident in employee satisfaction, loyalty, and engagement, fostering a productive and innovative work atmosphere. As organizations evolve, managing cultural change becomes crucial, recognizing its impact on employee well-being and overall success. A harmonious company culture aligns values, nurtures relationships, and propels individual and collective achievements, contributing to sustained growth and competitiveness.

Time is money. This statement is what every successful business owner and professional knows and practices to make the most of their time. For start-up entrepreneurs, “Time Management” is how you choose to use your time to maximize your productivity in achieving your specific business start-up goals.

Just as bookkeeping is mandatory in making and maintaining financial records, effective time management is also crucial for entrepreneurs to achieve their business goals. They are ultimately responsible for every aspect of their company. They have to allocate the right amount of time to the right business tasks to keep their organization running smoothly. Here are fifteen excellent time management tips for start-up entrepreneurs.

1. Set Goals the Right Way

Begin with verifying your start-up goals and set them the right way. Setting your goals in the right way will help you stay focused on them and eliminate hindrances as much as possible. On the contrary, goal setting in the wrong way will lack the proper targets, eventually forcing you to fall off the track. Make the most of the SMART goal setting method. SMART is an acronym for S-Specific, M-Measurable, A-Attainable, R-Relevant, T-Time Bound. Make sure your goals are powerful and meaningful enough to push you to achieve them.

2. Prioritize and Delegate

Prioritizing your personal and professional goals and delegating your routine activities to a reliable and capable person is among the most important of all time management tips. This also ensures reduced stress and outstanding productivity.

3. Find a Great Time Management System

Depending on your choice, organizational culture, and start-up goals, find a sound time management system that you can accomplish most effectively. Many entrepreneurial enthusiasts find that Covey’s quadrant time-management system is the most suitable and sufficient.  This identifies your goals into urgent, non-urgent, important, and not important categories.

4. Audit your Time for a Week Straight

Spend an entire week consistently straight, to assess how you use your time that you have right now. Monitor your activities, record them in a journal or on your cellphone app, split up the activities’ duration into blocks of one or half an hour, and analyze how you worked, used your time, and wasted time. At the end of your seventh day, tally up all the numbers. Thereby, you will know areas for improvement.

5. Work on MITs in the Morning

Always focus on your start-up goals and begin your day by working on your most important tasks (MITs). Achieving them will render you the most significant motivation and momentum to stick with your work.

6. Follow the 80-20 Rule

The 80-20 rule is another essential time management tip that states that 80% of your efforts come from 20% of your results. When working on your sales start-up goals, it means that 80% of your sales come from 20% of your clients. Consequently, identifying that 20 % of your efforts will generate 80% of the results. With accurate tracking and analysis, you can scale that out to work smartly.

7. Adopt Good Habits

All good habits, such as self-discipline, self-initiative, efficiency, accuracy, teamwork, and office etiquette, serve as excellent time management tips to manifest your start-up goals. Thus, practice them and continuously improve on your areas of weakness.

8. Eliminate Bad Habits

Our bad habits are our biggest time-wasters. They can include procrastination, lying, negativity, tardiness, poor communication, social media addiction, bad body language, inattentiveness, inefficiency, and temper tantrums. Thus, try eliminating them as much as you can.

9. Take Frequent Breaks

Breaks are essential to relax your body and recharge your mind. Keeping your physical, mental, and emotional state at peak levels by taking at least 10 minutes of a break in an hour is essential for management tips.

10. Exercise and Meditate

Daily meditation and physical exercise are a great way to maintain a physical and mental balance that render efficient performance. Thus, practice them in the morning or evening at your convenience.

11. Make To-Do Lists

Making a to-do list every evening for the next day is an excellent way to stay effective and efficient throughout the day. Also, it helps you stay consistent and closer to your start-up goal realization.

12. Seek Mentorship for Guidance

Find a mentor who has excellent expertise in time management tips, have been through a similar wringer you are in, and help you fulfill your start-up goals. Good mentorship enables you to stay on track with your time and goals.

13.  Cut Down on Distractions

Clutter and disorder in your office or workplace will distract you, making you lose your time by focusing on unproductive activities. Thus, reduce such distractions by making things neat, clean, and organized.  Also, avoid checking your social media accounts during the workday.  That can wait.

14. Turn Off Unimportant Alerts

Promotional emails, subscription updates, and app alerts distract you. Therefore, turn off social media app alerts and hire an assistant, if you can, to manage your emails and other less critical tasks.  They can also update you about important emails that come through while you are working.

15.  Trust Yourself

By the day’s end, time management tips are not things that will be mastered overnight. You have to persevere. Also, be confident about yourself. With consistent practice and patience, you will learn how to manage your time effectively and achieve your start-up goals.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

By: Jennifer Brazer

Jennifer is the author of From Cubicle to Cloud and Founder/CEO of Complete Controller, a pioneering financial services firm that helps entrepreneurs break free of traditional constraints and scale their businesses to new heights.

Fact Checked By: Brittany McMillen

Cloud’s Role in Economic Growth: Key Insights & Benefits

Economic growth through cloud computing enables businesses to scale efficiently, reduce costs, and accelerate innovation across all sectors of the economy. Cloud technologies serve as a powerful economic multiplier by democratizing access to enterprise-level tools and infrastructure that previously required massive capital investments.

I’ve witnessed firsthand how cloud adoption transforms financial outcomes for businesses of all sizes. After 20+ years guiding Complete Controller clients through digital transformation, I’ve seen cloud solutions cut operational costs by up to 50% while simultaneously boosting productivity and market reach. Throughout this article, I’ll share practical insights to help you leverage cloud technologies for measurable economic gains—whether you’re a solopreneur or scaling a mid-market company.

What is cloud computing’s role in economic growth, and how does it benefit businesses?

• Cloud computing drives economic growth by reducing IT costs, enabling rapid scaling, and creating new business models and revenue streams
• Cloud infrastructure eliminates capital expenditures on hardware and maintenance, converting fixed costs to variable expenses
• Pay-as-you-go models allow businesses to align technology spending with actual usage, improving cash flow management
• Cloud platforms enable businesses to deploy global services instantly, reaching international markets without physical expansion costs
• Advanced capabilities like AI and machine learning become accessible to organizations of all sizes, democratizing innovation

How Cloud Computing Fuels Economic Growth

Cloud computing has evolved from a tech industry curiosity into a fundamental economic driver across all sectors. The macroeconomic impact is staggering—cloud adoption is projected to generate $12 trillion in global GDP by 2030, with $2.7 trillion from APAC regions alone and $216.8 billion specifically from energy productivity gains.

This explosive growth stems from the cloud’s ability to dramatically lower barriers to market entry. Small businesses can now access computing resources previously reserved for enterprises with deep pockets, creating a more dynamic and competitive business environment that stimulates broader economic expansion.

Market expansion & global reach

Cloud providers like AWS, Microsoft Azure, and Google Cloud now command 94% of the $94 billion quarterly cloud infrastructure market. This massive spending fuels job creation not just in tech hubs but across regions where data centers, AI research facilities, and cybersecurity operations are established.

The economic ripple effects extend far beyond the tech sector itself. Traditional industries from manufacturing to agriculture now leverage cloud infrastructure to optimize operations, reach global customers, and develop new digital products and services.

Financial impact on organizations

Companies that migrate at least 60% of their workloads to the cloud consistently report measurable financial benefits:

• 15% higher revenue growth (IBM Optimizers study)
• 4% greater profitability gains (Wipro FullStride surveys)
• 11.2% year-over-year profit increases (Infosys revenue reports)

The U.S. cloud economy has demonstrated remarkable long-term growth, tripling from 2002–2017 and adding $214 billion to GDP in 2017 compared to just $78.1 billion fifteen years earlier. This trajectory illustrates how cloud technologies act as factors influencing economic growth far beyond the technology sector itself.

Economic Benefits of Cloud Adoption

Cloud adoption delivers both immediate cost savings and long-term revenue benefits that compound over time. Organizations that strategically embrace cloud technologies experience fundamental shifts in their business economics.

Revenue generation & margin improvement

SaaS spending is projected to hit $300 billion in 2025, driving entirely new service models and revenue streams that weren’t possible with traditional software. Dell reports that cloud-adopting firms experience 53% faster revenue growth compared to competitors still relying on legacy systems.

A manufacturing client of Complete Controller reduced their monthly accounting cycles by 40% after moving to cloud-based financial tools. This freed valuable resources for product innovation and market expansion initiatives that generated $1.2 million in new annual revenue. The economic benefits of cloud adoption extend far beyond operational efficiencies into fundamental gross domestic product and economic development improvements.

Cost efficiency & resource optimization

Netflix’s migration to AWS stands as a landmark case study in cloud economics. Between 2010 and 2021, the company reduced streaming infrastructure costs by 50% while simultaneously improving global service reliability and scaling to support hundreds of millions of subscribers.

The cloud’s pay-as-you-go model eliminates upfront IT capital expenditures, a critical advantage for:

• Startups needing enterprise-grade infrastructure without massive investment
• Seasonal businesses with fluctuating computing demands
• Companies seeking to shift from CapEx to OpEx models for improved cash flow

Cloud providers achieve economies of scale impossible for individual businesses, passing these savings on through increasingly competitive pricing models.

Emerging Trends Driving Economic Transformation

The cloud’s economic impact continues to evolve as new technologies merge with and build upon cloud infrastructure. These emerging trends represent the next wave of cloud-driven economic growth.

AI-driven growth & innovation

AI services grew an astonishing 140-160% year-over-year in 2025, with 81% of U.S. businesses using AI/machine learning relying on cloud infrastructure. This convergence of cloud and AI is expected to drive 21% projected GDP growth from artificial intelligence by 2030.

This trend accelerates economic transformation through:

• GenAI deployment – Enabling companies to automate content creation, product design, and customer interactions
• Real-time data processing – Creating predictive models that optimize everything from inventory management to financial forecasting
• Hyperautomation – Combining AI, ML and RPA to automate complex business processes end-to-end

For businesses, these capabilities translate into productivity gains, cost reductions, and entirely new revenue models based on insights extracted from vast amounts of data.

Sustainability & global market penetration

Cloud adoption supports sustainable economic growth through multiple mechanisms:

1. Energy-efficient data centers operated at scale by major providers
2. Reduced need for on-premises servers and associated cooling systems
3. Remote work enablement, cutting commuting emissions and office space requirements

Additionally, cloud platforms democratize global market access. Companies of all sizes can now establish international operations and customer relationships without the traditional costs of physical expansion, creating more resilient and diversified revenue streams.

Strategic Implementation for SMBs

Small and mid-sized businesses stand to gain disproportionately from cloud adoption, but implementation requires a strategic approach tailored to their unique constraints.

Roadmap for cloud transition

The most successful SMB cloud transitions follow a structured approach:

1. Assess Workload Capacity → Measure current infrastructure needs and identify priority migration candidates
2. Prioritize SaaS Tools → Adopt cloud-native applications for immediate ROI in finance, CRM, and operations
3. Monitor Costs → Implement usage analytics to optimize spend and prevent unexpected scaling expenses
4. Develop Talent → Train existing staff or hire specialized skills to maximize cloud platform benefits
5. Implement Smart Investment Strategies → Reinvest savings from operational efficiencies into growth initiatives

Indian SMBs using cloud services have demonstrated the economic potential of this approach, seeing 308% higher cash flow and triple the profitability improvements within just two years of adoption. These remarkable outcomes underscore why 80% of small businesses report that cloud technologies directly help them grow their business.

Industry-specific implementation approaches

Different industries benefit from tailored cloud adoption strategies:

• Retail: Focus on customer data platforms and inventory management
• Healthcare: Prioritize secure patient data storage and telehealth capabilities
• Manufacturing: Implement IoT connectivity and predictive maintenance
• Professional Services: Deploy collaboration tools and client portals

At Complete Controller, we guide clients to start with scalable cloud bookkeeping and financial management tools before expanding to full infrastructure migration. This approach delivers quick wins while building confidence for broader transformation.

Balancing Growth with Sustainability

The cloud’s economic benefits must be balanced against important sustainability considerations. This tension creates both challenges and opportunities for businesses.

Environmental & economic tradeoffs

While cloud adoption reduces physical server costs and individual company carbon footprints, rising data center demand (growing 10% year-over-year) creates significant energy challenges at a macro level. Organizations must carefully consider the relationship between economic growth vs. environmental sustainability when developing their cloud strategies.

The economics of this balance include:

• Scalability benefits vs. carbon footprint concerns
• Cost savings vs. infrastructure investments
• Operational flexibility vs. data sovereignty requirements

These tradeoffs inform critical business decisions around public vs. private cloud deployment, data center locations, and economic policies that shape regulatory environments.

Future-proofing cloud investments

To maximize long-term economic returns, organizations must future-proof their cloud investments by:

• Selecting providers with clear sustainability roadmaps
• Building flexibility into architecture to avoid vendor lock-in
• Developing governance frameworks that balance innovation with compliance
• Continuously measuring ROI against business objectives

This approach ensures that cloud investments continue delivering economic benefits while adapting to evolving environmental, regulatory, and competitive landscapes.

Final Thoughts: Harnessing Cloud Economics for Your Business

Cloud computing isn’t just changing how we use technology—it’s fundamentally reshaping economic possibilities for businesses of all sizes. The data is clear: organizations that strategically adopt cloud technologies grow faster, operate more efficiently, and adapt more successfully to market changes.

I’ve guided hundreds of businesses through this transformation at Complete Controller, and the pattern is consistent. The companies that thrive recognize that cloud adoption isn’t simply an IT decision but a strategic economic investment that impacts every aspect of their business model.

Ready to accelerate your economic growth through optimized cloud adoption? Contact our team at Complete Controller for a personalized assessment of how cloud financial services can transform your business economics and position you for sustainable growth.

FAQ

How much can cloud computing actually reduce operational costs?

Most businesses see 20-30% operational cost reductions after comprehensive cloud migration. These savings come from eliminated hardware maintenance (8-12%), reduced IT staffing needs (10-15%), and improved energy efficiency (5-8%). Companies with seasonal demand patterns often report even higher savings, sometimes exceeding 40% annually.

What industries benefit most economically from cloud adoption?

Technology, retail, and financial services typically see the highest economic returns. Tech companies leverage cloud for rapid product development and scaling; retailers benefit from improved inventory management and customer data analytics; financial firms gain from enhanced security and compliance capabilities while reducing infrastructure costs.

How does cloud computing specifically contribute to GDP growth?

Cloud computing contributes to GDP through multiple mechanisms: creating high-wage tech jobs, enabling business formation with lower capital requirements, accelerating innovation cycles, improving workforce productivity, and generating entirely new digital service markets. Studies show that each dollar spent on cloud services generates approximately $3-5 in broader economic activity.

What’s the ROI timeline for small businesses investing in cloud migration?

Small businesses typically see positive ROI within 6-18 months of cloud migration. SaaS applications generally deliver returns within 3-6 months, while infrastructure migrations may take 12-18 months to reach breakeven. The fastest returns come from reduced hardware costs and improved workforce productivity, while longer-term benefits include new revenue opportunities and market expansion.

How can businesses measure the economic impact of their cloud investments?

Businesses should track multiple metrics: direct cost savings (infrastructure, energy, staffing), revenue growth tied to cloud capabilities, time-to-market improvements, customer acquisition costs, employee productivity gains, and reduction in system downtime. The most comprehensive approach combines these metrics into a cloud economic value assessment updated quarterly.

Sources

• AWS Public First Report. (2021). “U.S. Cloud Economy Impact Analysis.” Public First. https://awsus.publicfirst.co
• Bacancy Technology. (Mar 27, 2024). “Case Study on Netflix AWS Migration.” https://www.bacancytechnology.com/blog/netflix-aws-migration
• Brookings Institution. “Digital Transformation and Economic Growth.” https://www.brookings.edu/research/digital-transformation-and-economic-growth/
• Canalys. (Q1 2025). “Worldwide Cloud Service Growth.” Synergy Research Group.
• Chain Store Age. (Nov 26, 2024). “Amazon Cloud Computing Could Generate $12 Trillion GDP by 2030.” https://chainstoreage.com/amazon-cloud-computing-could-generate-12-trillion-gdp-2030
• Digital Creed. (Mar 13, 2018). “Cloud Technologies for SMB.” Microsoft & TARI Study. https://www.digitalcreed.in/cloud-technologies-for-smb/
• Environmental Protection Agency. “Sustainability.” https://www.epa.gov/sustainability
• Flexera. (May 12, 2025). “2025 Cloud Spending Trends.” CloudZero Blog.
• Gartner. (Dec 6, 2024). “Cloud Services Spending Projections.” CloudKeeper Insights.
• IBM. (2025). “Beyond Agility Report.” IBM Research.
• IMF Publications. “Economic Development Research.” International Monetary Fund. https://www.imf.org/en/Publications
• Infosys. (Feb 11, 2025). “Revenue Stream Unlocking.” NextWork Blog.
• MeriTalk. (Mar 5, 2019). “U.S. Cloud Economy Tripled Over 15 Years.” https://www.meritalk.com/articles/u-s-cloud-economy-tripled-over-15-years-report-says/
• Wipro FullStride. (2025). “Revenue & Profitability Gains.” CloudZero.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Businesses operate in a complex and ever-changing industry. Commercial properties are mushrooming in every corner of every city. Unfortunately, not many people are aware of what goes on behind the scenes of a construction company.

Those working for a construction company are aware of the challenges they face daily during their routine jobs. It’s a significant challenge for any construction company to complete a structurally sound commercial building on the designated time and budget. Here are the top five challenges that a construction company faces regularly.

Government Regulations

Construction companies are one of the most regulated ventures. The government keeps these companies under intense scrutiny. Building codes are restrictive, and licensing and permit requirements are challenging to achieve. Companies must adhere to many different regulations, as unsafe buildings constitute a significant security risk for every city. However, it’s hard to meet the local and federal government’s strict regulations and safety standards.

Social and Political Pressures

Social and political pressures pose a challenge to construction companies so much that projects are held in progress for years. Pressure from the local community could delay or cancel a construction project that could be devastating for a construction company with losses in millions. The political and societal challenges can be overcome by holding meetings with local communities and concerned parties.

Health and Safety Concerns

Commercial construction is one industry that suffers accidents causing fatal injuries. Every day, thousands of companies with millions of employees are working round the clock to meet deadlines. Workers are exposed to different hazards from machinery during their work, falling debris, malfunctioning equipment, electrical shocks, falls, trench, and scaffold collapses.

Apart from the human suffering, financial constraints hit commercial construction companies very hard.  Some losses from accidents can cost a company millions in compensation to the worker and loss of equipment. Many of these losses can make a significant impact on proper bookkeeping within a construction company.

Construction companies can take different measures to eliminate or reduce accidents by meeting health and safety concerns. Fatal human loss and financial crisis can be overcome by maintaining high safety standards.

Shortage of Skilled Labor

The biggest asset of any company is its human resource; commercial construction companies are no different in this regard. They must have competent, trained, and highly skilled human capital to keep everything in its correct order.

The shortage of labor is a primary concern for commercial construction companies. To overcome this challenge, the construction company must take steps to work towards employee retention. Employee retention is necessary for construction companies because not many people are willing to get into the construction business as the construction work is physically demanding, challenging, and sometimes very dangerous. Paying better wages could help the company keep its employees for a more extended period.

Time Management

Construction is considered one of the most challenging industries because the biggest challenge is effective time management to meet deadlines. Simple time management becomes a significant task in construction. A natural weather calamity can rip the project off the ground causing substantial delays in meeting deadlines. Every day a construction site is closed due to bad weather or any other issue. Each day costs the commercial construction company to suffer significant financial losses recorded in bookkeeping.

 This is a major challenge particular to the construction business, and seasonal changes affect it. Access issues, accidents, machinery malfunction, or breakdown can cause massive delays. Companies can improve their time management by checking the weather forecast and managing the delivery dates for necessary raw materials.

Running a commercial construction company is not easy. It is challenging and complicated. Overcoming the challenges is vital for a company to maintain its operations while managing to complete its due date.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

In the healthcare industry, it is not easy to provide a quick and smooth service while also maintaining the privacy of a patient’s information according to HIPAA requirements. Leading healthcare organizations address these demands in collaboration with Google’s cloud and make it easier for their patients to access their information under one roof.

Secure Access to Information

Google’s cloud ensures information security that HIPAA requires, allowing limited logins to health officials and patients to avoid any data theft. There is software that will enable you to identify how many times the document or information has been viewed. If the system becomes corrupted or hacked, you know that your information is securely placed in the cloud. You can apply device encryption and then share the file; authorized people can access patient data from any managed device. As a healthcare professional, it is your responsibility to ensure the security of your patients’ information.

Provide Faster Service to Patients

Many websites connect patients with healthcare physicians across the United States. They allow patients to review inputs before they even see a doctor. When a patient arrives at the clinic or hospital, they can fill out an online form that doctors, administration, and nurses can access. This way, you will already have your patient’s information and can follow-up with them immediately. Patients can even fill out a feedback survey that will help improve customer service.

Access to Important Updates and Documents

Google Cloud makes it simple to create a streamlined information center. All you have to do is move all essential data, policies, announcements, calendars, training, and resources to Google Drive and link it to the Google website. For example, a patient is visiting a general physician, cardiologist, and cardiac surgeon simultaneously. Instead of faxing or emailing information to each other, the patient’s lab reports and follow-up information should be stored on the cloud. This way, all three doctors will have access to the patient’s data from anywhere. If there is an emergency, the doctor can access the patient’s medical history right away from their device.

Healthcare practitioners can also view previous clinical follow-ups. CT scans, X-rays, and audio or video messages can be uploaded to the cloud. Patients can view their medical history as well as their financial transactions. Let’s say the patient does not have medical insurance and pays out of pocket. Instead of visiting the account’s department, they can view all payment history on the cloud. Even the accounts department can perform their bookkeeping on the cloud and go paperless.

Ensure Consistency

One of the best examples is a leading pharmaceutical company that provides patients with lifesaving medications worldwide. This company started using apps. However, not all apps can collaborate, so they moved to the cloud. Today, more than 90,000 employees of this company are using Gmail, calendar, and multiple tools to work simultaneously from 140 countries.

Google cloud is easy to use. If you hire a new employee, you can add them to the Google cloud from your admin control, and they have access to it; you do not have to wait to hear back from your IT department. For example, there is a new doctor on board, and you have to provide them with a patient’s medical history, all you have to do is add them to the cloud and have access to all of the information. Depending on the IT department can create a hindrance at times.

Mobile Healthcare

Some medically complex patients have difficulty visiting hospitals or clinics, especially kids. That is when home services are provided. For example, a speech therapist visits a child’s home for speech therapy. After the session, the therapist can directly input their device on the Google cloud and update the charts, reports, and medication list from the patient’s home. All other practitioners can view updated information right away.

If your hospitals or clinics are providing in-home services, Google cloud makes that easier. You can track or update a patient’s information on the cloud, and all other healthcare practitioners can view that information immediately.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Credit scores and credit reports reflect how well or poorly you have managed your finances. If your credit report shows negative information, it becomes critical for you to get rid of any unpaid debt. Otherwise, you may be charged with an exuberant amount of interest. If your credit report shows bad reviews of your financial behavior, it will be difficult for you to obtain credit from other creditors. You may still get some credit if and only if you collateralize it with a property or an asset. But, if you do not own any valuable assets to use as collateral, you will not be eligible to get any form of credit, leading to a worse financial situation.

The only option you are left with is rebuilding your credit to get rid of bad credit scores. Improving your credit score will help you get approved for loans or credit cards, and, as a result, you will be rewarded with better interest rates. A bad credit score is equal to or below 619 per the FICO score. Follow the mentioned steps below to get your credit score back on track.

Review your Credit Report

Make sure to review your credit file so that you know your financial position. By doing so, you will get a better idea of what points need improvement. Do you have late or missing payments? Is your credit file showing that you have a higher rate of debt utilization? Reviewing such information will help you formulate a plan on where to start to improve your credit score.

You also need to check your scores to know whether there are any errors or inaccurate payment details that are present without your knowledge. If yes, then dispute the problem and get those debts removed, which will automatically improve your score. FTC offers some great rewards in case of any dispute, which will help you rebuild your credit score.

Catch your Payments

Your payment history has a major effect on your credit report. If you fail to meet your payment deadlines, it will not improve your credit score. You will only be making it much worse. If you find it difficult to make your payments on time, you should contact your creditors to get a more suitable payment plan. Make sure to be up-front when contacting your creditors and explain your whole scenario. Let them know that you still want to pay for your responsibilities. You can also ask for services from a credit counseling agency to make a proper payment plan.

Pay your Bills on Time

You can slowly rebuild your credit by paying your bills on time. This also includes paying non-credit card bills such as utility, phone, internet, etc. Late rent and missed utility payments are reported directly to credit bureaus. Payment history helps you to establish a reliable pattern to improve your score. Make sure that you are not falling into the bad habit of making late payments. If you can make automatic payments from your bank account, utilize this not to miss any more future payments.

Avoid Closing Credit Card Accounts

Try to avoid closing your credit card accounts, whether you use them or not. The longer the history of your credit, the better it is for your score. However, if you are far behind on your payment deadlines, the only option you are left with is to get a payment plan. A payment plan is required to cancel your credit card account. But make sure to track the history of your credit score to rebuild it.

Pay Down Debt

Credit utilization is another factor to consider to improve your credit score. Credit utilization is a way to measure how much debt you have, and it is expressed as a fraction of the available credit that you use. For instance, you have an available credit of $10,000, and you only use $7,500; the amount of your credit utilization is 75%. It would be best if you planned to pay off your debt more rapidly by using the approach of credit utilization. Reducing your debt will help you to improve your credit score.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Cloud accounting technology is a new player in the economic landscape. Cloud accounting is similar to traditional accounting, and bookkeeping procedures are done on accounting software. Cloud accounting software is hosted on remote servers, similar to the SaaS (Software as a Service) business model. Data is sent to the server into a ‘cloud’ where it is processed and sent back to the user.

All application functions are done off-site, into the cloud, not on the desktop. The accounting functions are done online and not on desktop software. The internet or other network are used for the process. Users access to cloud accounting software through a cloud application service provider. The software has not to be installed on a computer. It can be accessed from any place globally, provided the cloud applications service provider is present.
Features of accounting software must include:

• Inventory management
• Sales tracking
• Contacts management and contact history tracking
• Account to accept credit card payments
• Generating Invoices
• Financial statements, cash flow statements, and balance sheet
• Budget planning
• Payrolls
• Taxation matters

Benefits of Cloud Accounting for Small Business

Cloud accounting technology is a new player in the economic landscape. Why? We’ve listed the reasons below.

1. Access to accounting and bookkeeping data anywhere and anytime in the world. You can spend time on other activities related to business operations or spend your quality time with family. You can go online to access cloud accounting software while sitting at home and keep yourself updated with the accounting and bookkeeping functions in your business. You always have an up-to-date view of the business’s financial status to make the right decisions at the right time.

2. Go paperless in accounting and bookkeeping. This step is Eco-friendly, too. Paperwork takes a lot of time for accountants and business owners. Small business owners need time to interpret accounting information. Accounting software makes it easy to interpret accounting information.

3. Cloud accounting software has multi-user access.

4. Cloud accounting software is automatically updated.

5. Cloud accounting reduces upfront business costs. You do not face regular maintenance and fees for upgrading the system.

A Few Cloud Accounting Software and their benefits

1. FreshBooks

You can access FreshBooks from a desktop computer and mobile phone. It has many features used to simplify accounting processes. It makes it easy to track expenses, make online payments, generate customized invoices, generate reminders of late payments, purchase history with time-tracking, client records, and manage different projects with different rates.

Thirty days free subscription of FreshBooks is available for a new user.  After that, it costs $19.95 a month.

2. QuickBooks Online

QuickBooks is the primary bookkeeping and cloud accounting tool for small businesses and handles accounting operations. QuickBooks is developed and marketed by Intuit. QuickBooks is used to:

• Generate invoices with the logo of your company and with all details required by the customers.
• Process payrolls according to HR policies
• Manage all business transactions, including bills from suppliers and vendors
• Manage Inventory
• Track expenses

3. Kashoo:

• Creating professional invoices
• Categorization of income and costs
• Connectivity with online credit cards and bank accounts
• Online Sharing of data with an accountant
• Reconciliation of accounts due to the double-entry accounting process
• Twenty transactions per month are free 

4. Outright:

Outright is an online cloud accounting system for small businesses and is used for tracking expenses, profit, sales, and customers. Bank accounts and other services such as PayPal, eBay, FreshBooks, and web stores can be connected to Outright, and data can be easily exported from one app to another.

5.  Xero:

• Dashboard with bank balances, expenses, and invoices
• Customized reports required by the small business
• Tracking cash flow in real-time
• Graphical presentation of data
• Data can be shared and accessible to accountant and others
• Generating customized reports and reminders to customers
• Scheduling of Payments and returns

Apple, Blackberry, and Android applications are available. Many add-ons like CRM, invoicing, inventory management packages are also available on demand.

Conclusion

Cloud-based accounting technology is changing the landscape by providing its customers the services which were not available a few years ago. One can access their company’s data from anywhere in the world by logging into the account. Small business owners must avail of this technology as the costs are affordable, and benefits are more abundant than ever.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Understanding accounting, the language of finance and business, is crucial knowledge for all business owners and entrepreneurs. When starting a business, learning how to read financial statements is as important as managing other business tasks. It is more critical to understand statements rather than to continue investing money blindly.

Over time the business will expand, and transactions with other businesses, tax authorities, and people will have to be made. Business bookkeeping needs to be counted and rechecked. These transactions of business and records are maintained using various financial statements and accounting terms.

First of all, the following three are the most important financial statements in business bookkeeping.

Income Statement

The Income statement is divided into Sales and Expenses and includes the following:

Sales include: The selling of goods and services to the customers and getting monetary payments in return.

Expenses include: The purchases made on behalf of the business, employee salaries, bank loans that were received for investment or other purposes, and tax expenses that were paid as income taxes, etc.

Balance Sheet

A balance sheet is a collective form of the statement made based on all past transactions. It categorizes assets and liabilities.

Assets can be fixed assets as well as cash in the bank. It also includes the raw materials, work in progress that will yield profit, finished goods, and value-added tax. Value-added tax is the amount of money that a IRS owes you.

Liabilities comprise the payments that have to be paid by the company/business. It includes the gross amount of money that has to be paid to suppliers. Value-added tax liability is money paid to tax authorities for the sales that were done. Debt is the amount of money that has to be paid by the company to banks or other sources.

A balance sheet needs a balance.

Cash Flow Statement

A cash flow statement shows the cash (money) that flows in and the money that flows out.

A cash flow sheet includes the investing and the financing cash flow. Investing cash flow is the invested cash in the fixed assets in the business. The Financing cash flow describes the money in cash from the investors received from the investors or paid to the investors.

A third but significant form of cash flow is “Operating cash flow.” It explains the money flowed-in and flowed-out to the running business.

These three cash flows are added, and it shows the change in the amount of cash.

Conclusion

The above three financial statements are interrelated. As the incomes and expenses statement increases, the assets and liabilities on the balance sheet will increase. The assets and liabilities will decrease as per the cash flows from the cash flow statement.

Knowledge regarding financial statements interpretation is essential for entrepreneurs. Entrepreneurs need to know critical information in the credit analysis of their business. Investors and entrepreneurs must understand how accounting is done in businesses. Accounting is the language of business. But, learning the meaning of a few terms used in accounting is not enough. Entrepreneurs must understand the parts of the above described financial statements. This will help the entrepreneurs determine the values of assets. They will be able to calculate profitability and also estimate the risks of the assets of the company. They can understand the company’s financing sources. Entrepreneurs must understand the investment, credit analysis, and profitability.

Business owners/entrepreneurs can determine debt and equity with accounting knowledge in business financing. The ability of entrepreneurs to identify debt and equity shows insight into the value of a company. Understanding and accounting statement is vital for running a successful business.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

The following are the five best time management techniques to lead your business down a successful path.

Make Lists

Business owners and entrepreneurs have to do various tasks and many assignments. They have to handle many tasks. Bookkeeping and accounting are cumbersome jobs they must handle, along with a long list of other things. The best way to manage all of this is to make lists of all tasks and items you have to handle. Making lists is a huge part of all time management techniques. Lists can be memorized and used according to priority if you have an outstanding memory. The best time management solution is to enlist and write down all tasks, make lists, and pending assignments.

Four basic principles can be used for making lists:

• Annual schedule: Prepare the schedule for one year. This schedule is based on daily activities.
• Things to do list: Make a list of things to do daily, weekly, and monthly. All things to do tasks should be prioritized according to urgency.
• People to call list: List all phone numbers you have to make phone calls to. This is an alphabetically prioritized list. Alphabetical priority means that you allocate an alphabet to each number you have to call according to priority.
• Plan for the conference: Planning the meetings and conversations you need to have frequently should be enlisted according to priority. This way, you won’t ever forget an important call or meeting.

An easy and well-organized system for making lists regularly should be adopted. The habit of making lists is worth using for business success.

Tickler Files

A tickler file system is used to manage daily files and activities in an organized manner. It serves as a booster for automatic memory and lessens the mess of daily files, workload, and activities.

A tickler file is also known as a 43 folder system. It is a system in which files are arranged date wise so that on the specific date, that file will automatically be highlighted.

A tickler file is a straightforward and friendly system. Suppose you have 90 files of three colors, 30 for each month. You number them 1-30 for each month and allocate them in three different colors, i.e., blue for the current month, red for the next month, and green for the month after that. Now, you have a task that you need to perform on the 22^nd of the following month. You put the note and other details on the 22^nd number red file. On the 22^nd of the next month, that file will automatically remind you of that task by pop up. This is an automatic reminder system. By using these tickler files, none of your tasks are missed or forgotten. A lot of time is saved, and timely reminders lead to business success.

In cell phones and computers, this pop-up reminder system can also be used.

 Fewer Meetings

Lengthy meetings can be a waste of time. The frequency and duration of meetings should be shortened to have better time management. Meetings should be focused, and something valuable should be accomplished in each meeting. Before you call a meeting, ask yourself if it will be productive and if it is needed.

Minimizing the number of meetings you have is a good time management technique.

Block Time

Most of your time in the year should be pre-assigned and blocked to get maximum advantages out of it. Assign your time to important tasks like bookkeeping, audit, payrolls, training, etc. To succeed in the business, focus on what is essential, and use your time well.

 Profit from “Odd Lot Time.”

The time you get while waiting for something is valuable. Spend that time reading, thinking, and listening. Responding to missed calls and messages during this time is not a good idea because you cannot concentrate and, most of the time, do it in a hurry.

Conclusion

The key to success in business is disciplined time management. With these five techniques, you can be a pro in handling your time.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.