The Supermarkets and Grocery Stores industrymakes up the largest food retail channel in the US. As per the latest figures released by National Grocers Association, nationally there are 21,000 privately held or family–owned grocery stores in the US that generates $131 billion in annual sales. These grocery stores account for total 25% of the Supermarket industry sales in the US.
As per the “2016 Independent Grocers Financial Survey” conducted by the National Grocers Association, the sales of the independent grocers grew by 2.1 percent in 2015 which is up from 1.5 percent in 2014. In order to ensure that the growth story remains intact, the grocers need to ensure implementation of robust financial management practices for their business that includes accurate processing of their financial information, efficient tracking of inventory and POS data as well as adherence to underlying regulatory information on a year-on-year basis.
Continue reading Top-5 Challenges that will affect Grocery operators in 2017
Nonprofit organizations are subject to a unique accounting and reporting requirement that requires the reporting of expenses according to the purpose for which they are incurred. This process, referred to as functional expense allocation, is one of the more challenging areas of preparing a nonprofit organization’s financial statements.
As per the IRS Form 990, that applies Generally Accepted Accounting Principles (GAAP), nonprofits are required to segregate their entire costs into three expense categories:
Continue reading Two ways Nonprofits can reduce their Overhead Costs
Atlanta, GA – May 17, 2016 – A market leader in providing platform based business services to mid-market clients, announced the launch of “Help the Small Business” campaign in conjunction with the National Small Business Week to recognize the contribution of United States’ top small businesses, entrepreneurs and business advocates.
Quatrro is turning the Small Business Week (May 1-7) into a ‘Small Business Year’, with year long campaigns focused on helping hundreds and thousands of small business owners across Auto, Retail, Restaurant, Not-for-Profit (NFP), Healthcare and Hospitality verticals by educating them on best practices of running the business and offering innovative platform-based business support solutions that aim to improve business profitability for them.
Continue reading Small Business Week with the Launch of “Help the Small Business” Campaign
Atlanta, GA – August 24, 2016 – A market leader in providing platform based business services to mid-market clients, has been redefining the ‘Product-Price-Performance’ equation for hundreds and thousands of mid market businesses across the United States by leveraging technology as a key enabler for driving business profitability across its clients’ businesses. This has helped Quatrro to enhance operational efficiencies for existing clients and enabled addition of several new clients across diverse industry verticals.
Cloud based technology platforms and SMAC (Social, Mobile, Analytics and Cloud) have emerged as a disruptive force in the Global Outsourcing industry off late and the trend is expected to continue in the foreseeable future. According to Gartner, the worldwide market for public cloud services will be worth $204 billion in 2016 – a year-on-year growth rate of 16.5 percent.
Continue reading Improves Business Value for Mid Market Clients through Innovative Cloud Based Platforms & Next-Gen Analytics Solutions
From churches to youth organizations to local chambers of commerce, nonprofit organizations are prevalent throughout every community. Unlike for-profit businesses that exist to generate profits for their owners, nonprofit organizations exist to pursue missions that address the needs of society at large.
With more than 1.5 million nonprofit organizations in the United States, nearly 1.2 million have annual budgets of less than $1 million, and most are even smaller. These organizations have a critical role to play in addressing the needs of the underserved and underpenetrated sections of society. Since these nonprofits have a mission that drives the work that they do, even if there are government contracts to fund this work there is still the need for a regular supply of funds by way of contributions, membership dues, program revenues, fundraising events, public / private grants or investment income. Fundraising and access to sustained grant revenue is undoubtedly critical for nonprofits to ensure continuity of their noble efforts.
Continue reading Outsourcing Finance & Accounting function for Non Profits…. A Necessity or a Need?