Compliance is normally thought of in terms of working in line with relevant legislation, usually in the region of financial accounting and reporting. However, compliance is also highly relevant for the internal organization. That means that when it comes to internal compliance, it’s important to have the right people involved, particularly in process design, and to ensure that strong internal communication is organized around any changes taking place or security risks involved.
Legislation and regulation are in almost continual movement, affected by initiatives from VAT changes to SEPA. They often relate to financial administration, but certain industries are also heavily affected by regulations in other areas of their business. Retailers and suppliers often then make additional mutual agreements as to how rules can be best implemented to streamline the supply chain. Given the significance of proper rule application, how can businesses ensure they stay fully in-line and up to date?
Business Process Management (BPM): it’s an important subject for every business. Unfortunately, the organization of core business processes often fails to get the attention it deserves; be it through insufficient time or the feeling that there isn’t much room for improvement left. That improvement is usually possible though, and in many cases seriously necessary.
Tablet computers, smartphones, and other communications technologies are rapidly changing the way we do our business. And this doesn’t just apply to the office. Studies from analyst firms like Gartner have shown that some manufacturing businesses are also successfully boosting efficiency by adopting this technology on the shop floor.
For consultancy businesses it’s essential that they are able to tightly manage the progress of a project. When every project involves a degree of risk, relevant information needed to manage that risk can’t only be stored in the laptop or head of the project manager. The key is to ensure that the necessary data is available to all, something made possible with the appropriate project management IT solution. The question is, how do you choose the right one?
We all wait. At the station, at the doctor, in the supermarket. It’s a fact of life. But why do we do it actually? Is all that waiting really necessary?
As in most industries, competition in professional service provision has intensified over the last decade. Staying ahead of that competition is now a major challenge, achieving growth a swim against the tide. Readily available advice includes ‘create an alternative’, ‘think differently’, and ‘stay unique’! Sounds good, but how do you actually go about doing that? Here are my six tips to flesh out those bones…
No sale is complete until the product or service is paid for. It is cash flow, more than profit or sales or accounts receivable, that underpins the sustainable success of any business. Extensions of credit begin with a decision to provide a service or product up front, but that’s a long way from the end of the process. The health of any company is intrinsically linked with how these credit customer relationships are managed – before, during and after the sale has taken place.
Why do some manufacturers now prefer to buy from Dutch suppliers? It’s because sustainable competitive advantage is no longer just about the lowest possible purchase price, but about ‘lean co-operation’ throughout the supply chain. Outsourcing to the low-wage countries is becoming a thing of the past. Faster time-to-market and more flexibility to move with demand – that’s now the primary focus.
Inefficient collection of accounts receivable stagnates cash flow, a significant problem for many businesses already operating on razor thin margins. If you’re taking longer to get hold of your money than you’d like, a reappraisal of the role your IT system is playing could help.