How do you make critical business decisions? Trusting your gut feeling or relying on analytical data, what do you prefer? While some business owners have made a fortune by following their instincts, there is also the iconic case of Bob Galvin, the CEO of Motorola, who went against all signs of mobile phone boom and…
5 Ways How ZikZuk Can Improve Your Business
Financial management is a crucial part of running a small business. It aids in the monitoring and understanding of business profit, while determining whether the business has good cash flow. It also helps in making decisions on purchasing inventory and assets to enhance business growth. Proper financial management enables a business to make better use…
The Rise of the Neobanking Revolution in India
Neobanks are online financial institutions that have similar offerings to that of a traditional bank. A neobank is marked by its online presence and direct interactions with its clients. While neobanks are typically confused with digital banks, there is one big difference between them. While digital banks are an online-only part of an existing traditional…
Key Advantages of Using Tally in Small Businesses
Most of the business owners today use Enterprise Resource Planning (ERP) solutions that help them plan and manage their business. However, some businesses, especially small businesses, have still not realized its importance. ERP solutions like Tally play a significant role in helping businesses manage their customers, vendors, product inventory, banking, sales & purchase orders, and…
Top 4 Accounting Challenges Faced by Businesses and How to Overcome Them
Tracking income and expenses is essential for any business. Accounting is the key process of organizing and analyzing financial transactions to make better business decisions. If you make a mistake, it can lead to financial loss, problems with vendors, and hinder your company’s growth. Understanding the most common accounting management challenges and what you can do…
Top 4 Practices for Managing Accounts Receivable
Accounts receivable (AR) is the balance of money due to a firm for goods or services delivered or used but not yet paid for by customers. Simply put, the business has sold a product to a customer, but that customer has not honored the invoice yet. Managing accounts receivable properly has a tremendous impact on…
How BI Software Helps You Accountant Get Better Insights
According to a survey conducted by OnPay in 2019, over 87% of small businesses reported that they turned to their accountant for advice on several business areas. Apart from maintaining the books and filing taxation for the company, an accountant also has the knowledge to help you choose your business structure, create your budget, process…
Common Cash Flow Problems Faced by SMEs and How to Solve them
According to official statistics by the Government of India, small and medium enterprises (SMEs) make up 95% of the total industrial units in India, with a whopping 4.25 crore industrial units that account for around 45% of the manufacturing output of the country and employ 40% of the skilled workforce. However, the hard truth is that…
Top 5 Ways to Automate Your Payment Collections Process
For every business the collection of payments can be frustrating and time-consuming. It can become a full-time job, even with making collection calls, filing paperwork, and keeping track of each outstanding account. The difficulty is that many small business owners do not have the resources to devote a full-time effort to collecting payments, and they…