Cost analysis in the IT sector basically consists of carrying out a strategic planning whose actions are aimed at meeting specific business demands. To that end, it is essential that all departments have tools and methodologies to apply the cost reduction.
In simpler terms, we are referring to the multidisciplinary and continuous process of IT governance. Its goal is to integrate not only the expenses, but also support-related services and projects.
By employing good cost analysis practices, it is possible to add value to the business and provide unique solutions to the audience. And that is what we’ll talk about in this post, read on to check it out!
Planning the costs of a company is one of the best ways to ensure its survival and growth in the market, even when dealing with the most complex economic scenarios.
This is because the cost analysis aims to consolidate data on financial performance and the execution of corporate activities. Based on this information, managers are able to make more assertive decisions regarding the expenses that can be eliminated and what actions to take to foster the profitability of the business.
Now that you understand the importance of carrying out IT cost analysis, we’ll show you some tips on what you can put into practice in your business. Check it out below!
Determining the costs to be analyzed, that is, mapping them in an organized, functional, and intelligent way, will allow the finance department to account for expenses and investments with the infrastructure needed to carry out the business activities.
We know that much of the work done by the IT sector takes place in the digital environment and, therefore, has a series of intangible costs, such as the acquisition of ERP and CRM software, APIs, plugins, etc. In addition to these, it is necessary to consider aspects such as productive time, customer loyalty and delivery times.
When it comes to a tangible IT structure, it is no different, as it is also necessary to invest in hardware (computers, mobile devices, equipment, etc.) and labor, for example.
Finally, cost analysis can be optimized by using innovative technological tools that can automate repetitive tasks that were previously carried out by employees.
In addition to reducing the workload of IT professionals with minor issues, business management software have a wide range of resources that support the accounting and finance department.
After all, unlike human workers, these systems have algorithms that are not susceptible to failure and order issues, such as forgetfulness, fatigue, or misunderstanding. In other words, they minimize the margin of errors, rework, and productivity losses.
As you can see, cost analysis for the IT sector encompasses a series of practices and the use of technological tools that contribute to the company’s development, making it easier for managers to make strategic decisions.
Do you want to know more about the MyABCM solutions for cost analysis using technology in your company? Then contact our team so that we can show you the very best in digital innovation for your business!
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!
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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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.
Financial technology is one of the most efficient solutions made available by the digital world to companies. Through it, managers and entrepreneurs can have the enterprise’s financial situation literally in their hands, at any time.
Considering the speed in which businesses are carried out today, taking advantage of time with the least possible error is essential for companies. Thus, those who intend to remain competitive in the market need to take advantage of the benefits of technology.
Due to the relevance of this subject, we’ve prepared this article and listed the four most important advantages that financial technology offers for your business. Let’s do this!
Real-time data tracking is undoubtedly an essential benefit of financial technology. With it, managers are able to have the situation of the company’s finances in the palm of their hands. Know that this can prevent the loss of great businesses.
Imagine a scenario in which the opportunity for an investment or partnership in a business comes up, and it must be decided immediately. Due to a lack of quick knowledge of the financial radar, managers may decline the negotiation and hand it over to the competition.
In addition, financial data can be accessed from anywhere. There is no need for the manager to be present at the company’s premises or at a desktop computer.
Concentrating information in one place is not just an administrator’s dream – it is actually possible. Financial management software allows managers and auditors to access several data in a fully centralized way.
With these digital technological tools, audits can be performed faster and with data security, as there is no risk of duplicated information and no need to access various platforms, spreadsheets and company employees.
The best financial management solutions available on the market allow for the integration of the various sectors of the company. That way, it is possible to have a more comprehensive knowledge about the organization’s costs.
This globalized view offered by software helps leaders, allowing them to make more assertive decisions. This is because they will be carried out based on a variety of data, thus, their analyses become strategic.
Financial management software allows managers to find out where their companies’ biggest expenses are. This enables them to look for alternatives that can reduce their costs, changing executive processes or searching for new inputs.
We know that payrolls increase company costs, making entrepreneurs aim at leaner companies. Due to its processing speed, the software can reduce the costs of hiring employees.
With all that said, we believe that there is no doubt that financial technology is beneficial to any company. Implementing this solution will bring greater efficiency not only to the finance team, but to the entire enterprise.
In order to obtain all the advantages of financial technology, we recommend hiring companies that are recognized in the market. MyABCM is a global company with over 25 years of experience that operates in over 50 countries.
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Nowadays, the term “FinTech’s” is widely used. It refers to startups and companies that innovate and redesign the field of financial services with projects and plans entirely based on technology. The name is formed by joining the word “financial” with “technology”. In several countries, such as the United States, it is possible to find several enterprises related to this subject.
Through them, we are able to see major changes and innovations in the areas of processing and cash flow. Therefore, it is essential to learn about the revolutionary examples in order to extract ideas and know how they managed to stay in the market and achieve success.
We’ve prepared this article with 4 examples of international FinTech’s. Check it out!
According to a study made by KPMG and H2 Ventures, Ant Financial is 1st place in a list containing 100 prominent FinTech’s in the world. This Chinese startup is valued at $150 billion, which is why it is considered the most valuable in the world. It is worth noting that it is controlled by Alibaba, and it focuses on offering payment methods.
The practice, through the technological resources used, allows the customer to make a payment simply by smiling, by facial recognition.
Square was structured by Jack Dorsey, creator of the social network Twitter. This North American fintech is responsible for meeting demands regarding payment methods. Currently, the startup is valued at $ 5.1 billion and still has great growth and profitability potential in the short term.
Aiming to innovate the sector of brokerage and mortgage services, the founders of Trussle developed a solid and very promising project. We know that negotiating mortgages with multiple lenders can be quite a daunting task.
In this regard, Trussle fulfills the role of finding the best option, in addition to monitoring the market situation at all times and signaling when an enterprise with a better strategy emerges.
Finally, we have “the new money formula”. The startup Circle is based on a payment platform where users can send and receive payments through apps. Some time ago, it raised $100 million, which made the fintech’s valuation soar by nearly $3 billion.
One of Circle’s intentions is to develop solutions to solve the problems of the crypto world, mainly in terms of instability. In addition, it is interested in making payments easier and changing the market’s relationship with these ways of managing money.
So, these were the main examples of successful international FinTech’s. You can see that these startups have the potential to completely revolutionize activities and services related to the financial sector.
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The ability to process and analyze data is one of the cornerstones for the growth of companies. But success doesn’t just depend on the availability of information. Strategy is also a deciding factor. And this is the advantage that we added with our new partnership.
This month, we consolidated a valuable alliance with SAP. The world leading company in ERPs and business management now offers to its clients a flexible and efficient solution for cost and profitability management: the MyABCM Connector for SAP HANA.
It promotes strategic decision-making by combining its analytical power with advanced tools for managing and controlling costs and profitability.
Learn more about the partnership between MyABCM and SAP below!
The new MyABCM Connector for SAP HANA component is the key to the integration between the systems. It will allow SAP clients to access the features developed by our team to master their business finances.
The module will create an advanced planning and control environment, where users will be able to visualize and better understand their different cost sources. And most importantly, it will be possible to visualize, in real time, how they interact with the other areas of the business.
This means that the resources of both software can be used together, by consolidating and importing the information obtained between the platforms. Thus, with the MyABCM component, the SAP client will be able to develop a deeper understanding of how the costs impact the company’s management and how the different spheres of the organization relate and contribute to its profitability.
Learn about the technical features of the activation of the component:
Our priority has always been to offer advanced solutions in cost and profitability management. And with this partnership, SAP clients will now be able to control the business’s resources in a module that is fully integrated with their ERP, combining several features.
The management solution seamlessly integrates with SAP HANA, allowing you to apply specific allocation criteria and business rules. As a result, the users benefit from dynamic management analyses, which are obtained from a system developed with the particularities of their business in mind.
Learn about the advantages of integration:
More details about the partnership here.
More information about MyABCM on the SAP website here
In a reality of great competitiveness and exacerbated individualism, the humanization of care is increasingly valued, becoming a competitive advantage. With it, patients recover more quickly, and it also directly impacts the motivation of employees.
For you to understand this procedure and how to put it into practice, we created this post with the essential information. Check it out!
As the term itself suggests, the humanization of care is about valuing the person fully. Thus, all approaches should be made in a loving and respectful way.
To put it into practice, it is necessary to listen and care for all patients, establishing an honest and ethical relationship.
Humanized care takes a broad and comprehensive approach, exploring the emotional aspects instead of focusing only on the consequence of a certain disease.
As such, the humanization of care begins at the reception, and ranges from infirmary beds to security; in other words, it should be present in all services existing in a hospital or clinic.
Hospitals and clinics that adopt humanized care are able to obtain greater credibility and even better recovery rates.
After all, when patients feel welcomed, the chances of recovery increase considerably. But there are many other benefits, such as:
Upon realizing that they are receiving quality care and being valued as a human being, the patient will have confidence in the hospital or clinic.
For this to happen, all employees must be properly trained, including service providers.
That way, right at the reception, special care will be taken when collecting data; an eye-to-eye contact instead of just filling out bureaucratic forms.
You know that nurse who talks and even plays with patients? This type of professional is extremely important to help in recovery, as they bring joy and optimism during a delicate moment in people’s lives.
In addition, by putting humanized care into practice, patients will realize how important they are and will be more motivated to recover.
After all, when the team respects the individualities of each patient and carries out a treatment with affection, observing the family condition, their psychological, social and cultural history, their fears, anxieties and limitations, there is a greater confidence that reflects on the optimism about the medical procedures.
By listening carefully to what patients have to say, the affective memory is inevitably put into practice.
People can remember positive relationships, such as the affection of a mother, the hug from a friend, the love of a brother; in short, these are aspects that contribute to the emotional side, giving more strength in coping with the disease.
Given the benefits presented above, the humanization of hospital care is a global trend that is already part of the protocols of numerous countries.
This reality is also present in several other areas of the economy, even with the ever-increasing advancement of artificial intelligence.
That is because no robot works without a human presence. As we live in society, the humanization of care is a premise that should always be valued, bringing more harmony and quality of life.
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