Consumers expect orders to be delivered quickly and accurately and won’t settle for less. Last year, eCommerce sales increased by 44%, and, as a result, warehouses and fulfillment centers are now under pressure to deliver more orders, in less time, without an increased budget. Today’s consumer has many choices, and they have high expectations. They also want more flexible delivery options.
After a year’s postponement, new lease accounting standards will take effect in December 2021 for private companies and non-profits operating in the U.S. Under ASC 842 and IFRS 16, long-term leases must now be captured on the balance sheet. This is a significant change and makes accounting for leases much more difficult. Let's look at how to make it less demanding.
Let’s start with the basics. B2B e-commerce, short for business-to-business electronic commerce, is the sale of goods or services between businesses via an online sales portal. In general, it is used to improve the efficiency and effectiveness of a company’s sales efforts. Instead of receiving orders manually, relying on human assets, like sales reps, and communication by phone or emails, orders are received digitally, reducing overhead costs.
The right inventory management solution will give manufacturers the confidence to go about their business, knowing they have a solid foundation that will allow them to quickly adapt regardless of market conditions, challenges, or changing business models.
I bet almost every email or blog you've read since March started with the reflection on the pandemic and how hard it hit everyone. But trust me, it fits here. Whether we wanted it or not, the global pandemic made it clear that going digital is crucial for any business. Your leadership team (one way or another) learned the value of Digital Transformation: they now know that it's one of the vital strategic differentiators for your organization, and it will help accelerate your recovery plan for 2021. But after the first motivation hit and excitement waves are ebbing, critical questions begin to surface: how long and how much? Here are my thoughts.
Are you frustrated with your company’s Financial Software? Then this text is for you! Generally, business growth is an admirable goal to achieve. When companies change, expand, and grow more complex over the years, most small and mid-sized businesses are reaching a crossroads: legacy software or – behold! – manual accounting and financial processing can’t keep up anymore and the looming decision of adapting a new financial management platform. But which one is right for you?