Rosemont, IL – Quatrro Business Support Services, a market leader in providing cloud based business support services across diverse industries, is poised to create a new accounting standard for the Franchise Industry across the United States by conceptualizing and successfully implementing its “Asset Free Accounting Model” for a range of clients across existing and emerging industry verticals. Buoyed by the success in Restaurant, Retail, Automotive and Not-For-Profit (NFP) industry verticals, Quatrro aims to capture a significant share of the market and has already started enhancing penetration in several emerging verticals such as Hospitality and Healthcare.
Accounts receivable is the most critical, yet challenging, process for any organization. Improper accounts receivable management leads to unhealthy cash inflows and easily to the downfall of a business. There are several challenges that businesses face during their accounts receivable process cycle like incorrect data, errors in invoicing, invoice delivery problems and resource problems.
If companies take control of their accounts receivable process and employ the right steps and related tools, they can overcome these challenges in no time at all. Some of the steps to maximize AR collections are outlined below:
Managing payroll is a task that demands a great deal of attention and even a minor error in its processing can result in significant monetary losses for a business. Further, compliance issues, employee regulations and frequent changes in the tax laws, make payroll processing a highly challenging procedure and it can become difficult for businesses to successfully navigate through it without any problems.
Below are some of the critical challenges that small and medium businesses face while processing payroll for their employees:
For any business whether small, medium or big, the significance of financial reporting cannot be underestimated – it provides information about the financial position and changes in the financial situation of a business. However, the flip side of that coin is that financial reporting is complex and many businesses find it challenging to assemble the right team of people that can keep them in compliance as well as provide timely information in a format that allows their management team to make informed decisions when needed.
Some ‘Financial reporting’ challenges that are faced by small and medium businesses (SMBs) are outlined below:
We are approaching the time of year when nonprofit organizations with a June 30th fiscal year end are thinking about either an external audit or about submitting a final report to contributors, boards of directors and lenders to show how they are performing financially. With seemingly complex audit requirements, it can seem daunting and overwhelming to think about an end-to-end review of an entire year’s worth of transactions.