Category: Accounting

  • Financial Planning and Analysis and Its Importance for Your Brand

    Financial planning is key for every company, no matter how big or small they are. But, according to Gartner, only 3% of companies have financial planning procedures that are actually integrated into the business procedure.

    So, what does financial planning really mean? How does it help businesses and what is the role of a financial planning team in the functioning of a company? We will answer all these questions and more in this blog post.

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  • Why Business Budgeting Tools are Key for Success in 2021

    Operating under a budget is the sign of every successful business. Regulating the cash flow can help you eliminate unnecessary and redundant costs from your operations.

    Most businesses resort to using Google Sheets or Excel as the tool to keep a track of their budget. Unfortunately, Forbes projects that 88% of business budget spreadsheets contain some form of errors. Your finance department is much more prone to errors when tracking the costs manually.

    The margin for error is quite large when you are using spreadsheet software for keeping track of sales and expenses. This is true especially when the number of transactions shoots up.

    Business budgeting tools can help you out with maintaining your budget and ensuring that the expenditure is not out of line. No matter how big or small your brand is, a budgeting tool is often the best investment that you can make to ensure that you eliminate unnecessary expenses.

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  • 5 Ways to Optimize SaaS Spend For Your Business

    Apps you use on a daily basis, such as Google Drive, Docs, Dropbox, HubSpot are all part of the SaaS category. SaaS stands for Software as a Service and refers to a subscription-based model where service-providing software can be accessed using external servers.

    The rise of cloud computing has helped in the growth of SaaS a lot, since software is stored on external servers. Users often need only a web browser to access the software since there is no installation needed.

    SaaS subscriptions often cost less than businesses having to purchase a number of software licenses for their employees. But, the recurring costs can often add up to be much more than expected. On average, a company spends $5700 on SaaS for every employee.

    So, there is a need to ensure that the SaaS spend for a company is regulated and that all costs are accounted for. This ensures that there are little to no unexpected losses involved when the financial reports are generated at the end of the term.

    With that in mind, here are five efficient ways to help you manage your SaaS spend better and reduce the likelihood of unexpected costs.

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  • Spend Analysis: What It Is and Why It Is Essential for Your Business

    As a business owner, it is important that you are completely aware of where the company funds are going. While you might have an overall idea about the amount of money being spent, you need to know how much is being spent on salaries, utilities, travel and tools on a day-to-day basis.

    Spend analysis ensures that you are not taken by surprise when expense reports are generated. In this article, we will discuss what spend analysis is, what it helps your business achieve and how you can do it yourself.

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  • How to Stop Chasing Your Employees for Receipts

    Automation is bringing relief to overburdened finance teams by eliminating repetitive manual work. Most businesses have started including automation in some of their workflows, including when it comes to managing their spend.

    A significant part of automation is tied with receipt collection, management, and reconciliation. Many finance departments haven’t been able to get complete control over receipt management, stuck in paper processes that invite manual labor, create confusion and consume too much time.

    In this article, we will discuss the challenges of manual receipt and invoice management and why it can be a barrier to productivity. We will also find out how a spend management solution like Mesh Payments can help you sail troubled waters smoothly and streamline your workflow.

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  • How to Speed Up Credit Card Payment Reconciliation Right Now

    Are you still reconciling your credit card payments manually? Payment reconciliation is a time-consuming but necessary task. You need to match your bank statements with your books to ensure everything is in perfect order.

    However, reconciling credit card payments takes up countless hours each month. You also have to rely on manually matching your numbers, which makes it laborious.

    As a result, finance teams waste precious time that you can use for productive purposes. Let’s find out how you can speed up your reconciliation process to save both time and effort.

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  • Featured

    Introducing: The Best Expense Management Solution to Oracle NetSuite Integration

    Organizations choose Oracle NetSuite because they are growing in size or expanding globally. They require a system that is robust and customizable, allowing them to scale, add layers of customizations as well as provide localized solutions for global expansions.

    At Mesh, we understand this is what NetSuite customers are looking for. Therefore, our NetSuite integration is pre-built to grow with you as you grow in size and expand your business and fit the customization requirements of your NetSuite implementation.

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  • Procurement vs. Purchasing: What Sets Both Apart

    Are you confused about the difference between procurement vs. purchasing? We often use the terms interchangeably, but a seasoned entrepreneur knows better.

    You should always have a clear idea of business processes to run your company. While purchasing and procurement may sound similar, they have crucial dissimilarities.

    Today, we will make a solid comparison of procurement vs. purchasing. You will have concrete information by the end of the blog to walk away with a clear picture.

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  • How Accounting Automation Makes Your Business Grow

    83% of accountants feel technology can make businesses gain a competitive edge, according to Finance Online. No doubt, a digital solution that automates repetitive tasks can boost productivity and save time. You can stop worrying about recording everything manually and move to a hands-free approach. In addition, you can help your accountants do what they are best at, i.e., to generate insights and guide strategic decisions. Let’s explore how adopting accounting automation is the right step to grow your business.

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