Internet connectivity has become a necessity today. The dependence on the internet has transformed the world into a digital jungle. Every day, billions of people log on to the internet and use many social media platforms to stay connected.
Many devices use internet connections that are not secure; they provide little protection from iron-fisted hackers. Using a VPN network is essential to address and tackle privacy issues. A Virtual Private Network (VPN) helps protect against different cyber-attacks, including:
Fire sheep
Wi-Fi-Spoofing
Honeypot cyber attack
VPN and Network Security
Virtual Private Networks secure internet-based networks, allowing users access to a provided network. The data shared on a private network through a VPN is safe and secure; the minimum risks of using VPNs have made them more popular.
A VPN network functions like a Wide Area Network or WAN. At the front of the operations, WANs and VPNs have similar functionalities. VPNs and WANs appear as they would on a private network, offering security from high hacker attacks.
Corporate Uses of VPN
Today, companies focus on using secure Virtual Private Networks (VPN). Large multinational corporations are leaning towards using a VPN to make their remote data centers safe and secure from foreign threats, including cyber-attacks resulting in data breaches. A single data breach can cause a company to lose millions. Safe and secure access to corporate data centers ensures that their confidential information is secured.
Companies rely on a VPN network to give employees access to corporate data worldwide. In the last few years, home-based internet users have started to opt for a VPN network as it provides some of the best security measures. It protects corporate data and keeps the network anonymous.
Why and When to Use a VPN Service?
A major advantage of using a VPN is keeping important data networks away from prying eyes. When on a VPN network, it goes through different processes before the connection is encrypted and secure. People with access to the same internet network make the network more secure, allowing a single user with a VPN to remain anonymous.
A VPN network ensures data safety by providing adequate security even if someone uses a public Wi-Fi network at an airport, shopping mall, train station, or any other public internet network. A VPN system also makes it safer to access crucial banking information. It is safer to use a VPN network for all banking needs; it not only makes the network more secure but a VPN gives its users partial anonymity.
In countries laden with conflicts and internet censorship, a VPN can sometimes become the only way to stay connected with the outside world. In many conflict zones worldwide, companies and people are using a VPN to keep their data secure and safe.
Using a VPN Service at Home
Home users can use a VPN to secure their network and avoid a cyber-attack that could result in a data breach and identity theft. Setting up a VPN connection at home is easy. Install a VPN application on a computer you plan to keep on 24/7. Such a computer must have an uninterruptible power supply. Set up a VPN connection with the home network. This can be done through the router, NAS, and a home computer.
Once everything is successfully installed, the VPN is now ready to run and secure the entire network. The VPN is not entirely anonymous; the internet service provider can see the traffic and the websites visited. Using a VPN network will allow users to stay anonymous and give protection from cyber-attacks and hackers.
Even though a VPN does not provide 100% anonymous service, it offers considerable security for any network. It serves as one of the most optimal solutions for a safe network.
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.
Essential Reasons to Prioritize Performance Reporting for Success
Performance reporting systematically tracks and communicates key business metrics, providing organizations with data-driven insights that guide strategic decisions and measure progress toward critical objectives. This foundational business practice transforms raw operational data into actionable intelligence through regular collection, analysis, and presentation of performance indicators across financial, operational, and strategic dimensions.
Over my 20 years leading Complete Controller, I’ve watched countless businesses transform from struggling operations into thriving enterprises simply by implementing robust performance reporting systems. Companies using comprehensive performance reporting are 4.2 times more likely to outperform competitors, achieving 30% higher revenue growth while reducing employee turnover by 5 percentage points. This article reveals why performance reporting has become non-negotiable for business success and provides practical strategies for implementation that drives measurable results.
What is performance reporting and why should you prioritize it?
Performance reporting systematically tracks key metrics to measure progress toward business objectives and strategic goals
It provides stakeholders with transparent insights into operational efficiency, financial performance, and competitive positioning
Organizations using continuous performance management experience 66% higher productivity levels and improved decision-making
Regular reporting creates accountability structures that align individual performance with company-wide strategic initiatives
Effective performance reporting drives resource allocation optimization and identifies growth opportunities before competitors
The Foundation of Strategic Business Management
Performance reporting serves as the cornerstone of modern business management, transforming scattered data points into cohesive narratives that drive strategic action. At its core, this process involves systematically collecting performance data from across the organization, analyzing trends and patterns, and presenting findings in formats that facilitate quick comprehension and decision-making.
The evolution from annual reviews to real-time monitoring represents a fundamental shift in how businesses operate. Where companies once relied on quarterly or yearly assessments, today’s leading organizations track performance continuously through integrated dashboards that pull data from multiple systems automatically. This transformation enables immediate course corrections rather than delayed responses to emerging challenges or opportunities.
Digital transformation reshapes performance measurement
Modern technology has revolutionized performance tracking, replacing manual spreadsheets with automated systems that process thousands of data points simultaneously. Cloud-based platforms now make sophisticated analytics accessible to businesses of all sizes, democratizing tools previously reserved for Fortune 500 companies.
Artificial intelligence enhances these capabilities further by identifying patterns humans might miss and predicting future trends based on historical data. These predictive insights allow organizations to address potential issues proactively rather than reactively managing problems after they materialize.
Strategic Advantages That Drive Competitive Success
Organizations prioritizing performance reporting consistently outperform their peers across every meaningful business metric. The data speaks volumes—companies with robust reporting systems achieve significantly higher revenue growth, improved operational efficiency, and stronger market positioning than those relying on intuition or outdated measurement approaches.
This competitive advantage stems from enhanced visibility into operations that enables faster, more informed decisions. When leadership teams have real-time access to performance metrics, they can identify emerging trends, allocate resources more effectively, and capitalize on opportunities while competitors remain unaware of shifting market dynamics.
Performance reporting creates organizational alignment by connecting individual contributions to broader strategic objectives. Employees who understand how their work impacts company goals demonstrate higher engagement levels and focus their efforts on activities that create genuine value.
Netflix’s revolutionary approach to performance excellence
Netflix transformed traditional performance management by eliminating annual reviews in favor of continuous feedback conversations. Their radical transparency approach includes real-time performance discussions where managers and employees regularly review goals, development needs, and contribution levels.
This system helped Netflix build one of Silicon Valley’s strongest company cultures, with their famous “culture deck” becoming required reading for business leaders worldwide. By focusing on continuous improvement rather than periodic evaluations, Netflix maintains exceptional performance standards while adapting quickly to market changes.
Data-Driven Decision Making Replaces Guesswork
Performance reporting fundamentally changes organizational decision-making by providing objective data that replaces assumptions and gut feelings. Leaders with access to comprehensive performance metrics make choices based on evidence rather than opinion, reducing costly strategic mistakes while improving response times to market changes.
Quality decisions require context beyond raw numbers. Effective performance reports include comparative analyses against historical baselines, industry benchmarks, and competitive positioning to provide complete pictures for strategic planning. This contextual information enables nuanced decision-making that considers multiple variables and potential outcomes.
Real-time monitoring capabilities represent perhaps the most significant advancement in performance reporting. Organizations tracking metrics continuously can respond to emerging issues immediately rather than discovering problems weeks later through traditional reporting cycles. This speed advantage proves crucial in dynamic markets where delayed responses mean lost opportunities.
Building accountability through transparency
Comprehensive performance reporting creates powerful accountability mechanisms throughout organizations. When metrics are visible across teams and departments, employees develop clear understanding of expectations and how their contributions impact overall success.
This transparency drives cultural transformation from reactive problem-solving to proactive optimization. Teams identifying performance gaps through regular reporting naturally seek improvement opportunities, creating continuous enhancement cycles that compound over time.
Resource allocation improves dramatically when decision-makers can see which initiatives generate positive returns versus those requiring adjustment. This visibility prevents resource waste on underperforming projects while directing investments toward high-impact opportunities.
Financial Impact and ROI Optimization
Performance reporting directly correlates with improved financial outcomes through better resource utilization, cost control, and revenue optimization. Organizations implementing comprehensive reporting typically see immediate improvements in cash flow management and profit margins as visibility enables more informed financial decisions.
Marketing performance reporting exemplifies this financial impact. Advanced attribution models tracking customer journeys across touchpoints reveal which campaigns generate highest-quality leads and best customer lifetime values. This granular visibility enables continuous optimization of marketing spend, typically improving return on investment by 20-40% within the first year.
Integration of operational and financial metrics provides holistic views of organizational health that traditional financial statements miss. This comprehensive approach helps leaders understand operational drivers behind financial results, enabling proactive management of factors influencing profitability.
Predictive analytics for risk management
Modern performance reporting incorporates predictive capabilities that identify potential risks before they materialize. By analyzing historical patterns alongside current trends, organizations develop early warning systems alerting management to emerging issues while corrective actions remain viable.
This forward-looking approach proves invaluable during market volatility when traditional planning methods fail to account for rapid changes. Companies with sophisticated risk monitoring through performance reporting maintain stability during disruptions while competitors struggle to adapt.
Technology Integration and Implementation Excellence
Successful performance reporting implementation requires structured approaches beginning with clear objective definition and metric identification. Organizations should assess current capabilities, identify gaps between existing systems and stakeholder needs, then develop phased implementation plans prioritizing high-impact improvements.
Best practices include focusing on limited numbers of meaningful metrics rather than measuring everything, investing in user-friendly visualization tools making data accessible to all stakeholders, and building reliable data foundations before adding advanced analytics layers.
Modern platforms can integrate dozens of business systems into unified dashboards updating continuously. This automation reduces manual effort while improving accuracy and consistency across reports.
Conclusion
Performance reporting has evolved from compliance requirement to strategic necessity driving competitive advantage through enhanced decision-making, improved accountability, and optimized resource allocation. The evidence is clear—organizations prioritizing comprehensive reporting consistently outperform peers while building sustainable advantages that compound over time.
I’ve seen firsthand how proper performance reporting transforms businesses from reactive operations into proactive, data-driven enterprises. The investment in robust reporting systems pays dividends through improved financial results, stronger stakeholder relationships, and enhanced organizational agility. Ready to transform your business through strategic performance reporting? Contact the experts at Complete Controller for guidance tailored to your organization’s unique needs and objectives.
Frequently Asked Questions About Performance Reporting
What exactly is performance reporting and how does it differ from regular business reports?
Performance reporting specifically tracks progress toward strategic objectives using key performance indicators (KPIs), while regular business reports often focus on historical financial data. Performance reports integrate multiple data sources to provide actionable insights for decision-making rather than just documenting past results.
How much should small businesses invest in performance reporting systems?
Small businesses can start with basic cloud-based tools costing $50-200 monthly, focusing on essential metrics first. As companies grow, investments typically range from 0.5-2% of revenue for comprehensive systems including software, training, and implementation support.
What are the most important KPIs every business should track?
Essential KPIs include revenue growth rate, customer acquisition cost, customer lifetime value, gross margin, employee productivity metrics, and cash flow indicators. The specific mix depends on industry and business model, but these fundamentals apply across most organizations.
How long does it take to see ROI from implementing performance reporting?
Most businesses see initial improvements within 3-6 months through better resource allocation and faster issue identification. Full ROI typically materializes within 12-18 months as teams adapt to data-driven decision-making and optimize processes based on insights.
What’s the biggest mistake companies make with performance reporting?
The most common mistake is tracking too many metrics without clear connection to strategic objectives. This creates information overload rather than actionable insights. Successful organizations focus on 10-15 key metrics that directly link to business goals and review them regularly.
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.
Jennifer BrazerFounder/CEO
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.
Brittany McMillen is a seasoned Marketing Manager with a sharp eye for strategy and storytelling. With a background in digital marketing, brand development, and customer engagement, she brings a results-driven mindset to every project. Brittany specializes in crafting compelling content and optimizing user experiences that convert. When she’s not reviewing content, she’s exploring the latest marketing trends or championing small business success.
Modern-day retail businesses’ POS software solutions are critical tools for many reasons. Experts worldwide agree that this software helps companies excel and outshine by providing them with the means to become efficient, accurate, swift, and smooth in their business dynamics. Various vendors have thousands of varieties of this software, but the general purpose is all the same: better management, excellent administration, and continuous monitoring. POS stands for Point-of-Sale. This software keeps the company’s records straight. All businesses actively selling goods or services to clients or patrons use it to keep up with their business activities, among many other uses.
POS Software Solutions Overview
POS software solutions cover a broad range of fields that we shall discuss momentarily, but let us dwell on what the software is all about. Many retail businesses, such as supermarkets with huge warehouses, demand IT systems that help them manage all this sonic movement. Phenomenal efforts are needed to make all this work in a streamlined manner. Certain procedures and methods are used when technology comes to businesses’ aid. POS software is more than just a tool; it is a complete management system programmed to carry out specific tasks crucial for business.
Usually, all POS software solutions use the Internet. Its capacity to allow remote connections into the program can help business owners directly witness what is happening regarding cash, inventory, stocks, employees, accounts, etc. The web uses this technology for online retail stores, supported by sophisticated back-end applications that are overly complex tools.
POS software can be cloud-based or on a device that stores information and critically needed data. It can calculate, store, tag, and sell every transaction, which is why it is successful. It does more than that, though, if programmed toward specific tasks. POS software solutions can even accumulate total taxes of the day, point out the sale frequency of items, and drive stock data.
Here are some features of POS software solutions that help a business carry out day-to-day functions for smoother business operations.
Point of Sale
Point of sale is the area in superstores where people rush to check out their products. These points (otherwise known as check-out lines) are equipped with this management software and make the job of employees much easier. They do not have to check codes, prices, or tags when the cashier is enhanced with POS software solutions. Every transaction is recorded and tied to the system, and the appropriate steps taken to measure the stock and inventory are its specialties.
Accounts Receivable
POS can calculate and systematically notify a business of the amount it has received or is going to receive. It is the summation of all payments that are to come in. This helps finance and accounts departments with their assigned duties as well.
Accounts Payable
Accounts payable is the total amount the business has run up or the total cash the company must pay. This feature of POS software solutions helps firms understand their expenses.
Inventory Control
Inventory control is a fundamental feature of businesses scrambling to implement POS software. The ease with which inventory is monitored, controlled, and handled by the information the software presents is valuable. It is also an overly critical aspect of the business; this management software helps simplify things.
Shop Management
POS Software is ideal for managing a shop. This solution is great for shops with inventory needs or total sales of the day. It can be programmed for this and many other critical activities as this POS software solution is integrated into the business.
Auto PO Creation
The automatic purchase order creation facility generates wholesale and retail invoices without needing to check items or get into details of summing up or other time-consuming tasks. This automatic feature makes creating an automatic purchase order swift, effortless, and simple.
Customer Tracking and Follow-up
POS software helps maintain records such as customer information like contacts, addresses, items of interest, etc. It can also generate an email to be sent as a follow-up.
Automatic Price Updates
POS Software can also manage and regulate price updates with ease and simplicity. POS software solutions can be different for all businesses, but this is also a solution that many businesses require.
Payroll
For employees, this payroll solution is regarded as the most convenient solution that a business can adopt. The software can whip up employees’ accounts and facilitate their payroll generation.
Bar Code Scanning
Bar code scanning is used to recognize and identify the items or articles that belong to the business for selling purposes. POS Software can ease this process.
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.
Blogging is becoming one of the most influential and cost-efficient ways for businesses to market their products and services. This is mainly because proficient bloggers already have a large following, meaning that many potential customers are likely to view anything they post. This influencer-style marketing has gained immense popularity and is becoming one of the most effective ways of marketing products to desired target audiences.
Let us dive into how influencers and bloggers can help promote your business.
Generate Online Traffic
If your business is mainly dependent on online sales, then having bloggers write about it becomes essential. An effective blog mentioning your product or service can drive swarms of traffic to your website. This increased traffic is organic, which means it is highly cost-effective for the business. This also holds for retail-based businesses.
Influential blogs can help these businesses get recognized and increase foot traffic. For example, a blog article for a boutique written by a popular blogger raises awareness and can lead to increased sales. Blogging is the online version of word-of-mouth marketing, and top blogger recommendations can be a huge advantage for businesses.
Generate Product Sales
Certain bloggers only write about specific topics and are, thus, considered experts in their field. For example, suppose a popular influencer well-known in the food industry writes a blog about the virtues of using your product over competitors. In that case, this can be a huge endorsement and increase product sales. Influencer marketing is extremely effective. A recommendation from someone you consider an expert is an opinion people consider when purchasing.
Blogs are Interactive
Another advantage of a blog is that it is often informal and set in a conversational style that urges readers to respond and comment on the material. These opinionated and often humorous blogs are an indirect way of marketing to your target audience, both informative and subtle.
Comments left on blogs that include recommendations for your service or product can often show how customers perceive your product. This market insight can lead to a further understanding of customer behaviors and what can be done to improve customer satisfaction and experience.
Blogs are Easily Accessible and Free
One of the best attributes of a blog is that it is easily accessible to anyone interested in a related topic. Blogs are also free to set up and extremely easy to use. It is an online journal; all one must do is write and post! Blogs have evolved from simple online journals to effective marketing tools for businesses.
Improves Customer Service
Blogs can also be used as an interactive FAQ for your products and services. Since blogs are interactive, customers can directly submit their concerns or questions, which can be answered promptly, greatly improving the customer’s experience.
Humanizes Your Business
Most marketing material is either highly informative, which makes it dull, or short, aimed toward a call to action. Blogs are a perfect blend of both. They are informative, but since they are generally informal, information is not conveyed in a dry or dull manner. Talking about your business in a relaxed setting helps to humanize the business in customers’ eyes and shows that the business cares about its customers’ opinions and perspectives.
Establish Credibility
CConcise information helps build the business’s credibility by generating appropriate. Customers begin to consider the business a leader in the industry, which helps build credibility and trust.
Conclusion
When used effectively, blogs can be one of the most effective ways to market to potential clients. Not only is it extremely cost-effective, but it is also the perfect way to target a niche market. Influencer marketing and blogs are the word-of-mouth marketing tools of the future. If you are not currently utilizing them for your business, you are losing out on potential sale opportunities.
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 “Accounting and Small Business Software, Software Evaluation Center” continuously researches to provide its customers with up-to-date guidance for their accounting needs.
According to technology evaluation centers, accounting and bookkeeping applications typically support general ledger, accounts payable, accounts receivable, payroll, project estimation, and multinational accounting. Small to medium businesses need other functions, such as inventory control and financial reporting.
Businesses looking for financing in new accounting and financial software often list “must have” features long before deciding which software to purchase. Security, performance excellence, customization options, and hosting choices are frequently considered during their decision-making.
Accounting and financial software are computer programs for daily accounting tasks and business bookkeeping functions.
Features of Accounting and Financial Software for Small Businesses
The following are essential accounting and bookkeeping tasks for a small business.
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
According to a fresh study from the Technology Evaluation Centers (TEC), financial directors want accounting and financial software to go outside accounting dealings and three-monthly reports to help make tactical decisions about the business’s future.
Accounting software features that organizations value the most include the following:
Accounts receivable: 64 percent of respondents requested
Web browser access: 41 percent of respondents gave it a top priority
The ability to be hosted on a Windows server environment: requested by 64% of respondents
Cost
Cost is a concern for most small to medium-sized business owners. Purchasing costly software with highly advanced features will not help a small business if it isn’t the proper software. However, the features mentioned above of web browser access and connection with SQL servers were in high demand from small to medium-sized business owners.
Characteristics of Financial Software Most Frequently Sought by Potential Clients
All organizations purchasing accounting and financial software are looking for features that would support the following:
General ledger
Accounts payable (AP)
Accounts receivable (AR)
Cash management
Financial reporting
However, subject to the type of industry, additional features may be reflected, such as the following:
Fixed assets
Cost accounting
Budgeting
Project accounting
Multicurrency, multi-entity, and multinational support
Accounting and financial software pursuers have shown concern about the newest technological developments and innovations that have infiltrated the business software market and reduced software solutions as more affordable, user-centric, and elastic.
New Abilities in Accounting and Financial Software Wanted by Organizations
Vertical industry-focused solutions
Cloud-based software delivery
Subscription-based pricing model
Fully functional access to the software via a variety of mobile devices
The data mentioned above about the newest choices, preferences, and interests shown by organizations are published in a report that can be obtained below:
According to TEC’s data, more than 47 % of accounting and financial software seekers wanted software that ensured the accounting system was compatible with the Microsoft SQL server database. 29% of the respondents wanted system compatibility with the Oracle database, while 27% appreciated the software compatibility with the Microsoft Access database.
Microsoft Access follows platforms for accounting and financial software markets. It indicates that many organizations seek simple, less costly platforms that should also be compatible with Microsoft SQL or Oracle. SaaS databases were the choice of 14% of accounting and financial software pursuers.
Conclusion
Recent technological changes have also changed choices among organizations for their accounting and financial software options. TEC generated a report based on its research on what organizations want in the accounting and financial software they will purchase. Software developers can get data to work on producing software per their clients’ requirements.
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.
KPI (Key Performance Indicator): measurable values that demonstrate how efficient a corporation is at attaining key business objectives. KPIs are used to evaluate success in attaining targets.
KPI Must Be
Well-defined and measurable
Well communicated to all departments of an organization
Vital to achieving goals.
Valid to Line of Business
Financial Metrics
Revenue: Revenue is one of the most significant performance indicators to evaluate the organization’s success. Bookkeeping helps you in assessing revenue.
Expenditure: Calculate cost-effectiveness to determine the best methods for reducing and managing costs. Good bookkeeping practices determine expenses.
LOB profits vs. objective: it is an evaluation of actual profits and projected profits to identify the performance of a department.
Expenditure Of supplies Sold: evaluate profit margin by calculating production costs and assess product markup and actual profit margin.
Day transaction Outstanding: The better the accounts receivable, the better the organization’s efficiency.
Sale by area: analysis of sales area-wide helps make better strategies in areas where sales objectives fail to be achieved.
LOB operating expense Vs. Budget: A comparison of forecasted budget and actual overheads helps in creating an adequate budget for the future.
Customer Metrics
Client Lifetime Value (CLV): CLV helps determine the value received from a long-term client of the organization. This is useful in keeping the best customers.
Client Acquisition Cost (CAC): it helps evaluate a marketing campaign’s cost-effectiveness.
Client Satisfaction & custody: by making customers happy and satisfied, you encourage them to become permanent customers.
Net Promoter Score (NPS): Make a quarterly survey and evaluate the company’s growth over long periods.
Several clients: this is a simple KPI like Profit. The number of customers gained or lost determines whether customers’ needs are met.
Process Metrics
Client Support Tickets: Analysis of CPT helps create a successful customer service department.
Percentage Of manufactured goods defects: The lesser the number, the better it is performed.
LOB effectiveness evaluates: Efficiency is measured by the number of products manufactured in specific periods.
People Metrics
Employee Turnover Rate (ETR): high ETR requires investigation and evaluation of packages and organization culture.
Percentage of Response to Open Positions: many applicants indicate that the organization is doing well and that people want to work with you.
Employee Satisfaction: the larger the number of happy employees, the healthier the organization.
Retirement Rate: This is important for developing strategic workforce plans.
Knowledge Achieved with Training determines the value of employee training and knowledge enhancement.
Internal Promotions vs. External Hires: this metric is valuable for deciding the organization’s succession planning.
Salary Competitiveness Ratio (SCR): used to assess the competitiveness of compensation options.
Customer Metrics
Customer Churn Rate: determines the percentage of customers who stop purchasing or availing of the service.
Contact Volume by Channel determines the number of customer requests and the method adopted by the customer for communication, i.e., email, phone, or other.
Percentage Of Customers Who Are “Very” Or “Extremely” Satisfied: Determines the opportunity to survey customers’ expectations.
Several New Vs. Repeat Site Visits provide differentiation of prospective clients and website traffic.
Financial Metrics
Cash Flow from Financing Activities: demonstrates financial strength.
Average Annual Expenses to Serve One Customer: the average sum required to serve one customer.
Innovation Spending: The higher the spending figure, the more value innovation has in an organization.
(Customer Lifetime Value) / (Customer Acquisition Cost): this value should exceed one.
Conclusion
Periodic evaluation of KPIs helps create a better entrepreneurship strategy. It also guides the adjustments necessary for growth and expansion.
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.
Cannabis: A Journey from Ancient Rituals to Modern Science
Cannabis, a plant that has been both celebrated and vilified throughout history, embarks on a fascinating journey that dates back thousands of years. Its story begins in ancient civilizations, where it was revered for its medicinal and ritualistic properties. Fast forward to the present day, and cannabis stands at the forefront of groundbreaking scientific research, promising a myriad of health benefits and giving rise to innovative extraction methods that cater to a diverse array of products. Let’s delve into the intriguing history of cannabis, uncover the science behind its benefits, and explore the diverse cannabis extraction methods that are revolutionizing the industry.
The Ancient Roots of Cannabis
The history of cannabis use goes back to ancient times, with evidence suggesting its use in rituals and as a medicinal herb across various cultures, including the ancient Chinese, Egyptians, and Indians. It was highly valued for its psychoactive and therapeutic properties. The Vedas, sacred Hindu texts, referred to it as one of five sacred plants. In medieval times, it spread across the Arab world and Europe, and it wasused for pain relief and its soothing effects. However, the journey of cannabis was not without controversy, facing periods of strict prohibition in many parts of the world. It wasn’t until the late 20th and early 21st centuries that perceptions began to shift, leading to legalization efforts and renewed interest in its potential benefits.
The Science Behind Cannabis
At the heart of cannabis’s therapeutic effects are compounds known as cannabinoids. The most well-known of these are tetrahydrocannabinol (THC) and cannabidiol (CBD). THC is the primary psychoactive compound that gives users the “high” sensation. At the same time, CBD is non-psychoactive and has been studied for its potential to relieve pain, reduce anxiety and depression, and even alleviate some symptoms of neurological disorders. The human body contains an endocannabinoid system (ECS), which is crucial in regulating various physiological processes, including pain, mood, appetite, and memory. Cannabinoids interact with the ECS, showing promise in treating a variety of conditions.
Diverse Cannabis Extraction Methods
As the cannabis industry evolves, so do the methods used to extract its valuable compounds. Each technique offers a unique approach tailored to different needs and preferences.
Solvent-based extraction
This method uses solvents like ethanol, butane, or CO2 to strip cannabinoids and terpenes from the plant material. CO2 extraction, in particular, has gained popularity for its ability to produce a pure, potent product while being environmentally friendly. The process involves subjecting CO2 to high pressure and low temperature, turning it into a supercritical fluid that effectively extracts the desired compounds.
Solventless extraction
For those seeking a more natural approach, solventless methods such as dry sifting, rosin press, and water hash are appealing. These methods rely on physical means to separate trichomes (the resin glands containing cannabinoids and terpenes) from the plant. Rosin press, for example, uses heat and pressure to extract a resinous sap from the cannabis flower or hash, resulting in a solvent-free concentrate.
Distillation
This technique is used to refine cannabis oil further, separating compounds based on their boiling points. Short-path distillation is a common method that produces high-purity cannabinoids, particularly THC and CBD. It involves heating the cannabis extract to vaporize the desired compound, which is then condensed into a separate container, resulting in a potent and clean product.
The Road Ahead
The cannabis industry continues to innovate, with ongoing research shedding light on the plant’s potential health benefits and the development of more advanced extraction methods. As legalization expands globally, the stigma surrounding cannabis is gradually diminishing, opening doors to new possibilities for medical treatment and recreational use. The future of cannabis looks promising, with the potential to revolutionize healthcare and provide individuals with natural, effective alternatives for pain management, mental health, and beyond.
Summary
In conclusion, the journey of cannabis from ancient rituals to modern science is a testament to its enduring allure and potential. With the advancement of diverse extraction methods, consumers now have access to a wide array of cannabis products tailored to their specific needs. As we continue to explore the science behind its benefits, cannabis stands poised to play a significant role in shaping the future of medicine and wellness.
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.
One of the most important aspects of every business is allocating costs. Cost accounting has increasingly become the key focus where IT infrastructures are being constructed. For example, considering budget limitations, funds allocated to computers, networking, and communication hardware make up almost one-third of the IT budget.
It is usual for infrastructure costs to be determined by the number of units a business has and how they are placed in the cost allocation plan (CAP). All assets are used according to the roles of the business units, so a simplified cost allocation plan is implemented in which servers and networking infrastructures are allotted accordingly. The latest technology enables user-based cost accounting using enterprise software, leading to pricing bliss.
Simple Ideas to Determine Usage-Based Cost Allocation Keys
IT infrastructures, especially enterprise software architecture, are designed to use multi-tier client-server applications. With such a vital and complex need for essential software, the determination of allocating costs becomes perplexing. Once assets are inducted into a business unit, hardware and software costs are dedicated and preserved as direct costs. Using the asset in a shared environment per resource capability has been seen through business today. Among many are DCHP, ISA, databases, applications, email, hosting, and cloud servers. In such environments, the cost driver is determined by the workload produced by clientele and the consumption of resources in IT infrastructure for cost accounting.
For instance, an application server can host dozens of applications. Still, in other scenarios, the same server would host two or three applications according to its function, like email servers. As servers are part of a solution, not a standalone product, they are a layer of a more extensive IT system.
Usually, all such software and hardware come within tiers; one is needed to run the other within the IT infrastructure. A cost accounting method would diminish significant problems and obstacles while providing other assets with more resources. For instance, 3-tier database applications consist of three servers, i.e., web, application, and database servers, which can all be shared to perform various duties for different applications. This brings up concerns, such as application owners having to handle most of the direct costs while other users are utilizing them as well. Therefore, a usage-based model would be advantageous to implement as costs can be allocated to owners or users to produce more transparency. It may even determine consumption-based cost accounting keys for allocating any IT infrastructure.
Practices
Identification of costs is an organizational practice that distributes cost allocation. This focuses on making IT costs identifiable and ensuring proper assignment to accounting objects, such as IT services. It also makes assessment and evaluation easier. Forecasting and decision-making are also somewhat straightforward and simplified. Also, it helps with cost recovery, which is setting IT service prices and charging the units using them. One objective is determining incentives, for instance, to regulate supply, cost-conscious behavior, and IT services demand.
Resources Profiles for Cost Accounting in IT infrastructures
From the customer’s point of view (business units, users), the complex software and hardware integration is sometimes not truly understood. They view it as a box that uses GUI software to provide services. Categories used can include transaction execution, such as stock or order, and information access, like retrieval and storage details. There could be several selections of one or more such services, and some services consist of several applications, resulting in similar resource consumption in an IT infrastructure.
Resource Estimation
Existing tools for profiling resources in a heterogeneous environment have drawbacks for significant cost accounting purposes. Firstly, performance diagnostic problems and technology and vendor-specific tools do not cover all resources. The service profiler tool is a load generator that uses standard monitoring tools of UNIX, Linux, and Microsoft Windows. These OS Tools help in detailed monitoring. Several other tools used for resource profiling help prepare an overview of resource consumption expectations for various user behavior patterns.
Evaluating Queuing Network Theory
For cost accounting allocation keys using resource profiles, profiles must be independent of the workload or services being utilized in the system. Resource profiles are excellent tools for validating assumptions. By accurately predicting resource utilization, it is safe to assume that estimates are accurate and independent of system workload.
Other Vital Work
Cost accounting well substantiates service-level resource profile needs. Funke, Scheeg, Nagaprabhanjan, and Apte have published individual works in cost accounting and IT Controlling.
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.
You can use two kinds of payroll software in your business – standard and certified. Certified Payroll Software is used when government-funded contractors and public work construction projects are paid.
A request for Certified Payroll Software may seem problematic and confusing to any client. However, here is a short guide describing what you need to know.
Certified Payroll Software: What is it?
Certified payroll software is usually needed to maintain the payroll for workers on public work projects. In publicly funded projects, contractors are required to pay their workers a prevailing wage. The contractors must also make a proper payroll report showing each worker’s exact wages.
Certified payroll software makes making such reports easy. An excellent example of accredited payroll software is QuickBooks Certified Payroll. Certified software works as a substitute for the WH-347 Federal Form. They will also work as a substitute for WH-348. WH-348 is the Statement of Compliance, which is required after submitting WH-347.
The following information is required on the WH-347 form:
A description of the project and the company
Name of the employee
Employee’s Social Security Number’s last four digits
The job classification of the employee
Employees’ work
The employee pay rate in addition to any deductions and the net pay.
Most of this information is already stored in payroll software. This is why creating a payroll report with certified payroll software is easier.
After the report is created, it needs to be printed and signed to certify accuracy. This is known as the Statement of Compliance. Completing these steps marks the successful creation of a certified payroll report.
Certain misconceptions about reporting certified payroll include the fact that many believe they require certification to become a payroll professional before being able to file a payroll report. However, that is not true.
Another misconception is that the standards and filing procedures for certified payroll are the same across the United States.
Regardless, you can easily use certified payroll software to make and submit payroll reports.
QuickBooks and Intuit Online Payroll
QuickBooks Certified Payroll and Intuit Online Payroll are the best options for making Certified Payroll Reports.
Intuit Online Payroll allows you to have all the information relevant to creating a certified payroll report in one place. Intuit has a lot more to offer. Once you create the weekly payroll and timesheets, the software’s time tracking can be used to pay employees and workers.
Once you need a report, go to the “Reports” menu and click on the “More Payroll Reports in Excel” option under “Employees and Payroll.” You will see a button labeled “Certified Payroll Report.” From there onward, you must follow the on-screen instructions to get your report.
You can get Intuit Online Payroll at three different prices. The price is the sum of a base rate and per-employee charge. The three packages are:
Basic: This is the cheapest Intuit Online Payroll plan. It offers the paycheck generation feature but does not include the payroll tax submission feature, and it does not allow you to file a W-2 electronically. The base rate is $20 and $2 per employee per month.
Enhanced: This plan is one of the most used. It includes all the basic plan features plus other features, including electronic W-2 forms and payroll tax form submissions. The most popular plan of Intuit Online Payroll has a base rate of $31.20 plus a per-employee rate of $2.
Full service: This is one of the most innovative plans offered by Intuit. It provides an actual Intuit employee to handle your payroll-related tasks. This plan also guarantees against any tax penalties that, if incurred, Intuit would pay for. The plan is priced at the base rate of $79 plus a per-employee rate of $2.
Other Certified Payroll Software is also available, such as:
Certified payroll solution- This is an add-on for QuickBooks.
Construction partner- This bookkeeping alternative to QuickBooks costs a hefty $6,000 and is particularly meant for large construction firms.
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.
Partnering with outsourced services to acquire the highest quality planning and strategy for a fraction of the cost is pivotal to success. Small or big businesses no longer prefer hiring in-house teams to manage certain tasks that can be outsourced to third-party service providers. The reason is obvious: they desire to seek specialized expertise from the gems of the industry.
Moreover, start-ups and small businesses usually have scarce resources: time, labor, and money, which restricts them from hiring in-house accounting and bookkeeping professionals. It’s safe to say that time and cost-effectiveness are the major driving forces behind the motivation to hire business accounting and bookkeeping consultancy services for start-ups in today’s time.
The Evolving Needs of Start-ups and Small Businesses
From a small business to a large company, every business establishment needs someone to promptly and effectively manage their financial accounts, pay bills, send out invoices, reconcile bank statements, and manage debtors. Maintaining separate finance departments to tackle financial matters is a hassle and a huge expense. That is why most businesses outsource their financial matters.
Looking at the bigger picture, most start-ups lack the wisdom to tackle difficult bookkeeping and accounting-related issues, so they cannot look after their books and finances independently. For them, hiring the professional expertise of an accountant and bookkeeper is more of a need than a desire.
Business Accounting Consultancy Services for Start-ups
Many success stories directly result from hard work, toiling, commitment, and sincerity that guarantee a secure future. An experienced and qualified accountant or bookkeeper can serve the right needs of a business with creative wisdom like no other, all the while making better financial decisions. Beating your competitors with numbers is quite a different story, which means you need to employ the right accounting tools and strategies to get ahead of others. Business accounting and bookkeeping consultancy services are the need of the hour as they provide you with valuable insights to help you improve your business’s financial health.
Whether you are starting a new business venture or acquiring an established business, the need for professional accountants and bookkeepers never dies. Many start-ups or established businesses used to feel reluctant to hire professional accounting or bookkeeping services, for example, because they feared the integrity of vitaldata that is highly prioritized by the business would be compromised. Other concerns would be qualification or experience dilemmas that a client is unsatisfied with.
What Business Accounting Consultancy Services Do On Your Behalf?
Most start-ups lack ideal cash management skills, so they fail to make their mark and successfully manage their business operations. This kicks them out of the competitive race, which creates room and gives others a chance to capitalize on the vacant space. Therefore, businesses try to fill this vacuum and acquire the services of professional accounting consultants to help them understand various financial aspects for better decision-making.
Accounting and bookkeeping professionals can help you in many of the following ways.
Financial forecasting and planning
Analyze financial statements on your behalf and recommend ways to overcome cash flow issues
Determine the profitability of your business
Monitor influx and outflow of cash and help you achieve the right strategic fit
Expand your business with critical financial insights and knowledge
Save a lot of time and money and help you focus on the core of the business
Tax reductions, debt repayments, and more
Putting the Right Business Accounting Consultancy Services and Practices in Place
Accounting and bookkeeping professionals certainly have better understanding and knowledge than most. They know the tricks of the trade and are masters of the game, as they can solely change the entire fate of a company with better financial decision-making. When you task them with authority, they are expected to live up to expectations and carry out their duties in the best possible way to the best of their abilities.
Thus, if you expect to grow your business in a competitive environment, you must have the best possible business accounting and bookkeeping consultancy services and practices in place to equip and enable your business for success.
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.
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.
