Skip to main content

Posts

5 Tips for Financial Planning of Start-Ups

Financial planning highlights the company's current financial situation and future goals that can be attained. It enables entrepreneurs to allocate costs and make predictions about the results. You need a sizable amount of money to run a business successfully, so understanding how much is needed is crucial. Financing your startup correctly is very important; here are a few tips about financial planning that your startup needs : When you start a business, you need a fundamental plan detailing how it should operate and the growth and fall of your venture. This is where creating numerous scenarios comes in extremely handy. It is always best to be ready for the worst-case scenarios because you can never forecast the future or know where your spending will come from. You can be prepared for anything that comes your way by creating various situations. Higher costs generally accompany growth; the more the firm expands, the more expenses you'll encounter. The firm's prices won'
Recent posts

How can Companies Save Money on Employee Travel Expenses?

Managing travel expenditures for many employees may appear to be difficult, especially when employees are travelling from different locations at different times. Companies are typically unaware of how to reduce employee travel expenditures. Therefore we've compiled a list of the top 6 tips to help you save money on employee travel expenses. Prepare budget forecasts: Preparing a budget ahead of time will be quite beneficial since it will allow you to understand your spending better and avoid wasting money on not-so-important things. You may also encourage your employees to save money by rewarding them with food and shopping coupons. Checkout corporate reward schemes: You can provide a variety of corporate reward schemes to your employees. The enrollment for these programs is typically free or modest. You usually obtain points every time you buy your tickets, which can be used towards ticketing, lodging, and other expenses. Book flights and hotels in advance: To save money, book fli

4 reasons why cybersecurity is important for CFO

For companies worldwide, data security and privacy continue to be among the top challenges faced by organizations. Cyber attacks can have a devastating impact on the company’s finances and reputation which is the CFO’s core responsibility. For this purpose, the CFO works closely with cybersecurity professionals. It not only improves cyber risk management but also helps him in various other aspects of his job. Here is how cybersecurity plays an important role for CFO’s. 1- Aligning business and security CFO works closely with the security team which helps him to ensure that the cybersecurity strategy aligns with the overall business strategy. 2- Technological understanding Working with C-suite broadens the technical understanding of the CFO. It helps them to improvise their risk management skills. 3- Regulation and breaches In case of any breach, the CFO, with the help of cybersecurity, understands the extent of the damage. It helps him to avoid heavy penalties and fines in the future.

Are your cryptocurrency investments legal? Risk safety and everything you need to know

India is estimated to have over 10M + crypto investors and this number is amplifying every day.  Indian cryptocurrency exchanges confirm that they are adding people to their platform at a the faster rate in 2021. Even though investors are keen on exploring cryptocurrency, a large number of investors are still hesitant. Below, we'll highlight some of the emerging legal implications and risks associated with investing in cryptocurrencies that everyone must know. Cryptocurrency; a boon or a curse? Cryptocurrency has gained ground in India now, and the market is booming with increasing young retail investors. But one missing piece of the puzzle holds back millions of Indians from wholeheartedly diving into cryptocurrencies.  How legal is cryptocurrency? Here is the answer. People confuse the unregulated aspect of cryptocurrencies with being illegal. Cryptocurrencies are not illegal; cryptocurrencies are unregulated. We can buy, sell and trade cryptocurrencies, but we do not have a reg

AI and the growth of your business

The endgame of any successful company is to increase their revenue, optimise marketing and respond to emerging trends. In order to achieve all this, you need to take certain steps such as implementing AI to improve your financial audit. Check out the above posts to know how AI can benefit your company by improving its financial audits Have you ever considered leveraging AI to help you with your business's financial processes? Here are a few ways where AI can bring significant growth to your company  Cost reduction The use of AI will lower the expenditure required for manual hours of research and analysis Audit quality AI systems will learn and adapt to datasets so that they can improve the accuracy in the data processing Foreseeing and resolving financial issues AI can help in making reformed predictions about the likelihood of an individual or an organisation, which can aid you in extracting the required additional data while being prone to less human error Security and Fraud A br

How has automation affected the roles of CFOs

With the changing dynamics of virtually every profession and with the latest digitisation and automation of processes,  responsibilities and profiles, the roles of Chief Financial Officers of Companies have also expanded moderately. Earlier, the roles of CFO's stretched from doing expenditure analysis, monitoring the spreadsheets about accounts and  funds, taking care of the financial communications, and  a few other manual tasks.   However, now is the time when each and every process  is being convened using AI and automation. Now, the  role of a CFO has not been restricted to the Finance Domain  but somewhat expanded to a diverse profile in the firm. Post accounting automation, now CFO's shoulder:  Managerial Profiles:  They now have to keep a watch on the management of finance  teams and projects, including the company's hiring, because of  the greater hours available to them by automation. Product Betterment:   The expertise which they've gained as a financial manag