SMBs bear the brunt of late payments, which hit hard on the underpinning functionalities and success of organizations. As facts are best told in numbers, here is a survey conducted by Marketvoice on every aspect of invoices for small businesses. The results of this survey are based on data collected from over 80,000 invoices issued to different companies in nearly 90 countries. The key facts derived from this data are: 62% of invoices are paid late 1/3rd of the invoices are paid more than two weeks late Find below an image that shows the amount of delayed payments made to continue reading →
Striking the productive balance between multiple facets of a business is no easy feat. The realization of delayed and unpaid invoices makes it furthermore demanding. Fundbox surveyed a few SMBs to understand the impact of unpaid invoices and found that across the United States, on-time payments can help SMBs hire an additional workforce of 2.1 million employees. Is there a strategy to effectually facilitate timely payments in SMBs? A sales cycle initiated with a pro forma invoice can help streamline payment procedures. Check out the details right away. Understanding Pro Forma Invoice What Is a Pro Forma Invoice? A pro continue reading →
Running a small business in the age of rapid globalization is a challenge. As a business owner, you have to wear multiple hats. You are the store manager, customer care executive, marketer, and the accountant, all at the same time. However, one of the frustrating and mundane responsibilities you have to carry out is dealing with invoices… Only timely invoice payments will ensure you are bringing in more money than you are sending out. Unfortunately, late invoice payments plague many SMBs. A quarter of SMEs in Northern Ireland and over two fifths in the UK suffer from late payments with continue reading →
Findings reveal that 27% of small and midsized businesses (SMBs) admit that they have a hard time creating and sending invoices, let alone tracking them. As per a HubSpot survey of 400 SMBs, 49% have a hard time following up on late payments, and 46% find it difficult to receive their payments on time. It’s no secret that small business owners wear several hats, but sometimes this can be overwhelming. While they’re supposed to focus on the strategic and money-making aspects of the business, they often find themselves taking care of manual tasks that can easily be automated. One such continue reading →
Business has long been the most popular major at U.S. colleges and universities, which hand out far more degrees in this field than any other. And yet some people say business degrees nowadays are unnecessary, outdated and irrelevant. Business is a fast-changing field in today’s digital economy, and some say business instruction isn’t keeping up with the times or producing the skills needed to succeed in today’s marketplace. Many business schools would disagree, saying they are preparing students for a broad range of careers by providing instruction in all aspects of real-world business, including management, economics, finance, accounting, marketing and continue reading →
According to findings, only 58% of organizations fully understand the value of project management. Meanwhile, a whopping 93% of organizations report using standardized project management practices. In fact, 77% of high-performing projects use project management software. Between 2017 and 2018, the percentage of organizations using spreadsheets to manage their agile projects dropped from 74% to 67%. This is because these organizations moved to specialized project management tools. When it comes to running a successful small business, you need a seamless project management software that helps you stay focused on your goals and achieve them without delays. From getting through the continue reading →
Okay, so at some point, every young entrepreneur or small business owner wants to know which Time Tracking Software is best for their business. But, there’s one more question to ask yourself. When does your small business actually needs a Time Tracking Software? Ever gave a thought on it? Not actually, right! Well, that’s okay, in this post I’m going to show you WHEN to actually go for a Time Tracking Software and for which type, depending on your business. Source Setting up a small business is great, but running it is the real battle. Business owners go to great continue reading →
The software industry is currently experiencing a development renaissance. This is great news for business owners looking to shop around for a new vendor, but it makes gaining market share challenging for software companies. Given the crowded apps marketplace and the prevalence of cloud-based SaaS solutions, it’s vital for software companies to market their products appropriately. In order to scale past early adopters and into mainstream sales success, nearly 90 percent of SaaS companies reported new customer acquisition as a top priority. Lead generation can be a costly process, but with a solid software marketing strategy, growing companies can lower continue reading →
Did you know that 27% of small and midsize businesses (SMBs) admitted that they have a hard time creating and sending invoices? You may want to take a look at the infographic below to gain a better understanding of the current state of invoicing. Source As you can see, a seamless and intuitive invoicing system is an indispensable requirement for your business. Starting a small business may be a dream come true for many an entrepreneur, but running it takes effort and smart work. Modern businesses need to harness technology that not only supports their processes, but also betters them continue reading →
