Unforeseen financial events are inevitable and, in most cases, cause difficulties for the business’s management. If we consider the various obligations of the company, such as salaries of employees, suppliers and tax payments, the emergence of unplanned debt may cause indebtedness. And that is why cost mapping is so important.
In addition to making the financial organization easier, mapping strategies for the destination of the company’s capital allow managers to face economic challenges more easily.
Based on this context, we’ve prepared this post so that you can learn the best tips for mapping costs and optimizing results in the company. Read on and check it out!
Before identifying the costs, it is very important to map the processes. That way, the manager will have a broader perspective on all operational actions of the organization, which helps when identifying which one leads to little or no practical results for the business and, therefore, can be eliminated.
This strategy consists of identifying all the company’s expenses, showing the origin of each one so that the manager understands its impacts on the organization, as well as the margin obtained, among other aspects pertinent to monthly budget planning.
Promising corporate partnerships are an excellent way to map costs and reduce operating expenses in the company. Do research on organizations that offer innovative cost management solutions, review the proposals, and negotiate?
Have reliable and trustworthy partners by your side, whether they are software providers, third-party carriers or any other. In your decision-making process, take into account not only the price, but also factors such as on-time delivery, quality of inputs, special conditions, among others.
Investing in a financial management technology can make the company’s cost mapping significantly easier. As it is equipped with intelligent algorithms and process automation resources, managers can count on a multitude of solutions for the day-to-day of the company.
Among its benefits, we can mention:
Among many other functions that only a provider of innovative technological solutions for financial management can offer.
As you can see, mapping costs is a comprehensive strategy that aims to increase the managers’ knowledge of the business’s expenses and investments. Relying on technology is the best way to identify and categorize all the organization’s expenses.
Do you want to know more about the MyABCM solutions for mapping costs using technology in your company? Then contact our team so that we can show you the very best in digital innovation for your business!
To do well in the services market, managers must aim at the innovation of their production tools, as well as the development of their skills related to administrative processes. In this case, we highlight the need to learn about concepts and strategies concerning matters of the financial sector, given that this department has great relevance for the health and sustainability of any business.
Thus, professionals who are assigned to deal with processes in this area must try to learn about the main aspects involving the company’s capital and profitability, such as the discounted cash flow. Do you know what this is? To help you understand it better, we’ve prepared this article with the main information.
Read on and stay on top of it!
Discounted Cash Flow (DCF) is nothing more than a capital budgeting technique that uses as a parameter the expected cash that may be produced by the company in the future, providing an overview of the current value. The main goal is to translate the enterprise’s future cash flow into current amounts by setting a discount rate.
For you to understand better, let’s compare the DCF with the normal cash flow. The former shows an estimate of the corporation’s value based on the profit it can generate. On the other hand, normal cash flow refers to the amount of capital transacted by the company in a given period.
DCF is a powerful strategy to guide the decisions made by managers and investors. As we’ve pointed out, by using this method, you can create an estimate of the return a business can deliver. Furthermore, the tool also makes assessing opportunities and threats possible, as it measures future returns based on the discounts and risks assumed.
The formula to calculate DCF is relatively simple – just divide the amounts referring to the future cash flow by the number of periods (estimated years), multiplying by a discount rate adding up to one unit. Thus, the formula is:
DCF = revenue projections / 1 + discount rate raised to the numbers of periods considered
It is worth noting that the discount rate refers to the financial devaluation in each period. As an example, suppose that a company has as a projection over a period of 3 years the revenue of:
Based on a 12% discount rate, we will have to discount this interest each year. Using the formula, we have:
Now that we know the revenue for the next 3 years, referring to the approximate amount of what it would be today, just add and find the enterprise’s value:
DCF = 53 + 63 + 64
DCF = $ 180 THOUSAND
So, these were the key information about what Discounted Cash Flow is and how to calculate it. With this amount in hand, it is possible to prospect investors for your company and demonstrate the potential and expected future revenue. Due to its relevance, this calculation must be done carefully, taking into account the correct amounts for each year.
Did you like the article, but have questions about how to do this calculation? Then contact us and talk to one of our consultants!
Taking care of a company’s financial organization involves a series of strategic measures and the use of essential tools in order to ensure the economic health of the business. By using these practices, the enterprise is able to have good conditions to invest, funds for the working capital, among other advantages.
We’ve prepared this post so that you can learn about great ways to keep your company’s financial organization. Read the article to learn more about this topic!
One of the first steps to a good financial organization is to analyze all the inflows and outflows of funds in the enterprise (accounts payable and receivable), as well as closely monitor future transactions, as cash flow is one of the most important business tools.
With cash flow, managers are able to make projections of future scenarios and have a broader view of the company’s economic status, in addition to analyzing losses and gains and managing financial transactions.
Fortunately, to make this task easier, there are innovative resources such as the technologies developed to automate the management of financial and accounting matters in the company. We’ll talk more about this later.
Regardless of the market sector in which your company operates, and its size, having an emergency reserve is essential. In fact, this financial organization tip applies to any entrepreneur or self-employed professional.
In short, an emergency reserve should represent the amount needed for the business to maintain itself (paying its expenses and operating costs) for a period between 4 and 12 months.
In other words, it should ensure the company’s survival even when faced with the worst economic scenarios, crises and unforeseen events. The idea is to prevent the enterprise from resorting to loans at exorbitant interest rates and ending up in a debt “limbo”.
In the era of digital transformation, companies can count on innovative solutions for the most diverse operational needs, such as technologies for financial organization, which have become increasingly present in the corporate environment.
These software are capable of automating a wide variety of processes and tasks in the accounting department, making the access to accurate information on cash flow and working capital easier, as they provide thorough reports with detailed data for strategic decision-making.
It is also possible to check expense and revenue graphs, daily balances, and even make future debit and credit projections, separating them by periods, which is essential for a good financial organization.
As you can see, maintaining the business’s financial organization involves using a series of good practices and innovative tools to ensure the good economic health and survival of the company, in addition to maintaining its competitiveness, even in delicate scenarios.
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To be successful in the services market and ensure a good position against the competition, it is essential that managers aim to improve their knowledge of management. In this regard, among the issues that should be worked on in the business, we can mention various aspects of the financial sector, such as the implementation of a good chart of accounts for the company.
Basically, this concept refers to a set of transactions that represent the economic and financial demand of the company. Thus, the main goal is to organize the accounting work related to the records of operations. This plan also guides the preparation of the financial statements, as well as the business’s financial information, such as the Balance Sheet and Cash Flow.
Due to its importance, it is essential to know how to develop this strategy in your institution. To help with this topic, we’ve listed some tips in this article. Check it out!
First of all, we must emphasize that a company’s accounts will always have characteristics that are specific to your business. Therefore, to have an efficient chart of accounts, you need to create something personalized in order to meet the enterprise’s registration requirements.
The first step in setting up this strategy is to describe the groups in the chart of accounts. In this case, it is divided into four groups. The first group is “assets”. It can be divided into current, non-current, long-term, fixed and intangible assets, and investments. There is also the group of “liabilities”, which includes current and non-current liabilities and equity. In addition to these, we have two other groups: revenues and expenses.
Another important point is that this accounting strategy should be set up in a visual structure in the form of a “tree”, so that there are levels that branch into sub-levels and so on. Furthermore, it is interesting to start organizing the processes by revenues, then by expenses, until finally arriving at the final result.
In the case of revenues, the type of product or service that justifies the inflow of funds in the institution should be established, as well as the nature of the transaction and the categories to which it belongs. It may also be useful to separate into subgroups, as is the case of “Revenue resulting from product sales” and “Revenue obtained from services”.
Another tip is to detail the direct expenses that are related to the revenues achieved, such as raw materials, sales commissions, logistic transportation, cost of goods sold, etc.
Well, these were the main information about how to prepare a chart of accounts for your company. It is worth noting that this strategy has the advantage of allowing for a better view of the company’s assets, liabilities, revenues and expenses, making processes more organized and effective.
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In an ideal world, the perfect scenario would be one where companies would order products and services and pay for them correctly, within the deadline. In practice, however, we know that this is not the case.
For different reasons, many companies and customers end up not honoring their commitments and causing inconvenience and impasses in negotiations, which leads to a situation that is feared by many people: the outstanding financial obligations.
Do you want to know more about this topic, how it impacts companies and how to avoid it? In this article, we will explain a little more about it. Check it out!
A financial obligation arises when a company registers with credit reporting agencies a debt that has not been paid by another company in a negotiation. This information is recorded in a database for five years after the maturity of the obligations.
It should be noted that they are different from protests, which is when a person or company fails to pay a security and is registered with a Notary’s Office for Protested Notes. The financial obligations aim to prevent the granting of credits to defaulting companies, while the protest aims to receive debts by officially exposing them.
Outstanding financial obligations impact both sides. For the debtor, the registration of the outstanding obligation makes obtaining credit difficult, which, in case of need, can be fatal for the survival of the business.
As for the company that does not receive the amount due, the risk is the impact on cash flow and on the financial health, as well as being an impediment in the pursuit of a healthy future.
Several losses may arise with the outstanding financial obligations, but it is possible to avoid them. Check out how to accomplish this below.
For companies that do not want to be jeopardized by debtor companies, it is always advisable to carry out a prior analysis before doing business. Check if there are any outstanding financial obligations registered with credit reporting agencies, and only make the decision to enter into a contract after a thorough analysis.
Laying out the company’s duties in a normative way is always a good option to organize processes. Therefore, establish a credit policy with specific rules.
A good practice is to never grant credit or provide products to new customers. In addition, prioritize retaining trusted business partners whose payment is assured.
This tip is valuable both for those who have not received the money and for those who are in debt. After all, as we discussed, outstanding financial obligations are bad for both parties involved.
Thus, knowing how to negotiate and reach a consensus can be a great solution to avoid inconvenience. It is always good to consider that not everyone fails to pay in bad faith, and that a good relationship and intermediation are essential in conversations.
Always keeping an eye on outstanding financial obligations and contracts with suppliers is also essential. That way, it will be easier to quickly identify any payment that has not yet been made and that is due. As a result, it will be possible to solve problems quickly.
For some of the issues we mentioned, technology can be a great partner. After all, there are currently complete software’s that help to centralize data and information, allowing a better monitoring and assertiveness in decision-making. These tools also send alerts about contracts and debts maturing, making day-to-day monitoring much easier.
With the numbers and data that these tools are capable of collecting in hand, it is possible to have a better overview of the business and the financial obligations of suppliers and customers. They are great for helping companies with debts resulting from management difficulties, or those whose cash flow is being affected because they do not know the origin of the non-payment.
Are you curious to learn more about how these tools may help you? Then check out our article about the importance of software for controlling the costs and profitability of your company!
Regardless of the industry in which the company operates, it needs to honor its legal commitments, meeting deadlines and keeping books up-to-date. In this regard, financial accounting is necessary to keep all accounts, whether internal or external, organized.
Therefore, the manager needs to be organized in order to make payments and keep the cash flow always positive. That is what we are going to show you in this post. Read on!
Financial accounting is a way of using a company’s statements as a means of information for external agents, such as governments, shareholders, investors and financial institutions.
Thus, each external agent will use the information according to their needs. It can also be a way of monitoring the company’s financial health.
After all, it is necessary to always be careful to avoid potential drops in sales or pay attention to news that could affect the investments.
The purpose of financial accounting is to keep the legal obligations of a company up-to-date, making an adequate planning within the economic reality of each business.
In addition, the initiative analyzes data from both the past and the present, in order to establish a position for the company.
By knowing the financial health status, it is possible to present comparisons, stipulating investments or withholding expenses, all with a focus on management.
The financial statement is carried out by analyses in specific fields, presenting a systemic view of the business. To that end, there is nothing better than having management software.
There are statements that help in calculations, presenting the results that will guide the accounting. Here is what they are!
This is a statement that shows the company’s equity.
It contains everything the company has, from equipment to real estate.
Thus, the BS is formed by assets, rights and obligations that the company has, whether they are increasing or decreasing. With it, it is possible to measure cash, liquidity, indebtedness and profitability.
The IS presents data on the company’s operating and non-operating activities.
In most cases, it is prepared once a year, always focusing on compliance with legal requirements.
But it can also be done in a shorter period, mainly for internal control purposes. In this statement, inflows and outflows are considered, as well as taxes.
This statement is very similar to the IS. It indicates financial transactions and includes, in addition to cash flow, financial investments and bank accounts.
In general, financial accounting is a fundamental activity to keep payments up to date and to always have data to assist in decision-making.
As such, the planning and the financial control become everyday operational partners. But for everything to run well, there is nothing better than relying on technology.
Financial accounting is essential in any business, and it is part of the routine of managers who always want to evolve and keep the budget in the black.
So, do you want to know more about accounting? Then read this post and learn about the accounting break-even point.
Nowadays, with the high competitiveness among companies in the market, it is increasingly difficult to know how to stand out from the competition. But if you want to succeed and achieve good results in your business, it is essential to come up with good strategies to make this possible.
By finding alternatives to distinguish your company from your competitors, you are able to satisfy customers, set up good business strategies and maximize the profitability. Here we have excellent ways for you to stand out and get expressive results. Keep reading and check it out!
Knowing who your competitors are and what they do is the first step to achieve success in your business strategies. Therefore, research them and try to understand how they are positioning themselves in the market to find opportunities for your business to stand out.
That way, it will be much simpler to identify the points your company can improve to serve your business’ consumers while gaining new customers. By implementing this tip, your chances of achieving good results will be optimized.
It is necessary to know who your potential buyers are, as well as their wishes, expectations and preferences, so that you can adequately serve everyone and distinguish yourself from your competitors.
Therefore, try to understand what characteristics your target audience has, such as: what age group they are in, what they usually consume and what is their willingness to pay. That way, it will be possible to attract and retain customers more effectively.
Constant innovation is a characteristic of successful companies. Therefore, find out which innovations can be applied to your business and use them to improve your company’s results. Also, keep in mind that innovating is not just about adopting technological solutions.
The possibilities for innovation are related to customer service, as well as to achieving a more efficient sales process, carrying out a captivating after-sales service, and having the company’s processes very well defined. By adopting solutions that help in this regard, you will certainly stand out from your competition.
There are some ways to add value to your brand. For example, having a good name for your business can be a good alternative. Investing in marketing strategies by using social media, valuable content and a quality visual identity can also help in this regard.
As a result, your company will be able to consolidate its name in the market and, consequently, stand out from the competition. It is worth emphasizing the importance of offering value to your customers in every approach you take. That way, whenever they need something that you sell, they will certainly look for you.
Nowadays, offering a good shopping experience for consumers is essential to distinguish yourself. Therefore, have good service channels, follow the customer’s journey and look for alternatives that can make life easier for them. What they look for in your company are solutions and, by focusing on the customer experience, you will be able to deliver.
Did you see how there are several strategies to stand out from the competition? One of the main factors that affect your performance is the use of management software. With this resource, you can make your service more streamlined, automate tasks, free up employees for other activities, and have more information for decision-making. Using technology in favor of your business is one of the key ways available to distinguish yourself and grow in the market.
Did you like our article? So, continue with your studies and check out “How management software helps the company’s profitability” and find out how it can help your business!
The routine of a hospital involves different departments with very different demands; in other words, the management of resources must be impeccable, and done always with the help of technology. After all, it is necessary to implement several processes in order to identify, acquire and manage everything that is required in the day-to-day operations.
So that you can always keep the resources well organized, we will give you some essential tips in this post. Check it out!
Resource management is a way for the manager to account for everything that exists within a hospital, having a thorough control of equipment, supplies, raw materials, human resources, etc.
In general, it is an operational organization, inserting into the software all the property specifications, including data that help in new acquisitions and management.
As a result, waste is avoided and there is a better use of materials, whether physical or the team’s.
Resource management aims to improve the hospital management, optimizing time and reducing costs, which has a direct impact on increasing the productivity.
By keeping everything under control, it is possible to put into action plans that are properly aligned with the hospital’s budget reality, avoiding decreased revenue or even loss of equipment.
For example, by knowing how many sheets are available in the hospital, the manager will have an indication of when exactly they should acquire new ones, always maintaining the quality of care, with a focus on patient satisfaction.
Now that you know what resource management is, we will give you five tips that cannot be forgotten in your hospital.
The first tip is essential: you need to make plans for actions, as well as for everything that exists in the hospital.
To this end, carry out a survey on the amount of equipment, number of beds, employees, cash flow, financial reserve; in short, resource management starts with knowing the reality of the place.
Once this information is inserted into the software, you will have a systemic view of what you can do.
Once you know the amount of material and human resources existing in your hospital, with the respective numbers for each department, it will be possible to set management goals.
That is because the numbers help to set goals that can be achieved in a given period. As a result, the management is professionalized and has the potential for various improvements.
A resource management checklist will provide many advantages. Among them, we can mention the identification of resources that should be acquired, maintained or eliminated.
That way, you will know which departments need more nurses, which can be reduced, and the segments that need new materials.
As a result, the hospital’s operation will follow a quality standard, preventing the lack of certain materials or their loss due to the expiration date, as in the case of medicines.
Resource management isn’t put into practice overnight. It requires multiple processes. Thus, setting up a schedule is essential for you to not get lost in the activities.
Set specific and realistic schedules for each department, including those related to physical and human materials.
By setting goals for completing the steps, you will certainly be able to accomplish everything that is needed improve the management of the hospital.
Counting on the help of the team is essential for your hospital to achieve the pre-established goals. In this regard, it is important to keep the communication objective and always focused on everyone’s well-being.
Motivate your employees and hold meetings to follow up on the results. Once again, management software is crucial to keep the reports up to date and properly monitor the performances.
As you can see, there is nothing better than always relying on technology in resource management. It is an aid that brings gains in competitiveness and greater market presence, keeping management at a level of excellence.
Are you still not familiar with our IT solutions? Then take this opportunity and contact our team right now!
What is telehealth? In short, it is another technological advance that emerged with the purpose of offering more convenience to both physicians and patients. Boosted by the advance of the COVID-19 pandemic, this type of service is increasingly on the rise.
When used wisely, telehealth can become a very valuable resource, as it makes it possible to reach more clients, delivering a quality service. If you want to know how telehealth works and what its advantages are, keep reading!
Telehealth is a trend in telemedicine. It is an application that allows the exchange of information between the doctor (and other health professionals) and the patient by video calls.
Thus, this service has multiple functions such as basic clinical appointment, checking test results, providing accurate diagnoses, transferring knowledge between specialists, and prescribing medications.
Through Telehealth, a patient can make an appointment with a physician without having to go to a clinic or hospital. This possibility allows obtaining medical care, in real time or asynchronously, in situations where this would be difficult.
This kind of remote care service can be classified into two types, each one with its characteristics and benefits. To learn more about them, check out below!
Synchronous telehealth is defined as a service in which the physician sees the patient in real time. In this situation, the appointment has to be scheduled and the client can quickly access the diagnosis, so that they can ask questions and receive answers immediately.
It is the procedure that is most similar to the already known face-to-face appointments. It can be done by videoconferences, voice calls and message exchanges, although this last option is not considered very efficient.
On the other hand, asynchronous telehealth is characterized by the fact that the service is not provided live. The hospital or clinic sends questionnaires and forms to the patient, who sends them back to the physician. This procedure is indicated for non-urgent cases – those that do not need direct interaction between the professional and the client.
This new form of care is a technological innovation that is changing the traditional way healthcare professionals and patients meet. Although some experts are wary of these transformations, it is important to know and keep up to date about them. Check out some advantages of implementing telehealth:
By reducing the distance between healthcare specialists and patients, this form of remote service allows providing care to more people, so as to increase the potential practice of the professionals involved. Therefore, knowing about telehealth is essential for the smooth running of the businesses.
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In order to have an excellent hospital care and achieve patient satisfaction, extraordinary measures are not necessary. Not even high investments and expenses.
Understand that, in many cases, poor service can be as costly as a good service. In this article, we’ve listed six of the main practices for hospital care that provides well-being to patients in hospitals and clinics.
Read on!
Know that no matter how efficient the doctors and employees of a hospital are, it can go bankrupt if there is no control over the finances. Manual processes and the use of basic electronic spreadsheets can no longer keep up with the demand for care.
That is why financial management software has become a trend in healthcare institutions. To streamline processes, these solutions have interfaces that help in various procedures, including during the service.
Valuing the human being must be one of the most important missions to be followed by hospital networks. Therefore, full attention must be paid, from the clinical care to the physical conditions of the environments.
Knowing how to listen is an art that, in most appointments, is as important as the prescription of medications. In some cases, certain patients develop certain pathologies for reasons that arise from their own affective need.
We know that the body also suffers if the head is not doing well. In these moments, the professional who is prepared to listen can determine more assertive diagnoses. This avoids the use of too many medications and gives the patient more confidence.
Even though it is an essential service that deals with life, hospital managers who think they can charge high fees for their care are mistaken. Competition exists n all sectors of the economy.
Know that even the public system competes with the private network. Therefore, the practice of fair prices, in addition to being important for the institution’s permanence in the market, is a matter of humanity.
In addition to being mandatory to comply with the legislation, compliance with sanitary requirements is a matter of quality and safety of services. Therefore, following legal requirements is one way to provide adequate hospital care.
Note that the provisions contained in the law are the minimum parameters. If the hospital thinks it can carry out one or more procedures that are better than the one provided for in the legislation, it will be able to do them.
Investing in education is one of the best things an entrepreneur can do with their money. Well-trained employees return the investment to the organization in short periods of time.
Some business owners don’t realize this, so it is up to department managers to show them the advantages of this initiative. After all, these leaders are the ones doing the service on a daily basis.
So, do you see how practicing good hospital care is a strategy that can be simple? Focus on everyday humanitarian gestures, take advantage of technology, and follow the legislation.
