Here are Proven Cures For Your Healthcare Accounting Ills

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If you’re a healthcare accounting leader, it’s likely you have a lot on your plate.  Unlike accountants working for most other businesses, your list of concerns doesn’t just begin and end with revenue and costs. Those who work in healthcare accounting understand the degree to which insurance and the general uncertainty surrounding patient intake and outake complicates matters. And trust us when we say an outdated accounting software system only adds an extra layer of complexity.  In our previous post about the challenges of nonprofit accounting, we noted that the first step in the process of overcoming the industry-exclusive challenges…

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What’s Your Company’s Order Management System?

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There is arguably nothing more damaging to a relationship between a customer and a business than poor order management. Getting the order right is our most basic expectation as consumers. While it’s possible the purchase won’t live up to our personal standards, almost none of us will accept having to call customer service to report a late delivery. Fortunately, a quality order management system (OMS) can reduce the threat of customer dissatisfaction stemming from a mismanaged order. And, honestly, the benefits of an integrated OMS don’t end there. But first, let’s discuss what an order management system is and how…

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3 Signs It’s Time to Upgrade Your Business Accounting Software

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Eventually, every growing business comes to the realization they need new business accounting software.  As revenues and expenses grow, inputting data into Excel can quickly become a gigantic hassle. All of these tedious tasks take away time your accounting team could instead spend on reviewing new strategic investments. But how do you know it’s time for a new business accounting software system? It all starts with a simple conversation. Spend just a little bit of time going through your CFO or controller’s day-to-day schedule and you should quickly get a sense of whether it’s time for a new business accounting…

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Three Nonprofit Accounting Challenges to Look Out For

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Nonprofit accounting flips the public’s perception of the field of accounting on its head.  Unlike accounting at for-profit companies, where tasks are fairly routine and issues typically have precedent, nonprofit accounting varies greatly from year to year and even day to day. Much of this volatility can be traced back to sources of funding. Whereas accountants at for-profit companies can usually make relatively accurate predictions of future income based on past results, nonprofit accounting teams are somewhat limited given the unpredictable nature of fundraising.  Of course, uncertain income streams are only one challenge nonprofit accounting teams face on any given…

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Bring in More Donors with these Non Profit KPIs

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Investors demand transparency. If you’re the leader of an organization that serves the greater good and you aren’t able to provide investors with non profit KPIs, it might be time to rethink your approach.  It’s possible your organization is well established and has a set way of operating that just doesn’t include churning out raw numbers. Or maybe your accounting software isn’t able to quickly generate the non profit KPIs donors demand. No matter what your circumstances are, know this: Modern donors will not donate to an organization without proof it can and will deliver on its promises.  We have…

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Three Accounting Software Selection Questions

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No two businesses are the same. And so it shouldn’t be surprising no two accounting software selection processes are the same, either.  It’s challenging enough to decide on a new accounting software vendor. Determining what features and services your company needs only adds an additional layer of uncertainty. Ultimately, the final decision your company makes should come down to pain points experienced across the organization. As your company embarks on the accounting software selection process, ask yourself the following questions. 1. Who will be using the accounting software and where will they be using it?  User licenses are one of…

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