Month: May 2018

Achieving GDPR Compliance through Risk Management Outsourcing

Achieving GDPR Compliance through Risk Management Outsourcing

What is GDPR?

The General Data Privacy Regulation (GDPR) becomes effective on May 25, 2018, which bolsters data protection and privacy for all individuals within the European Union (EU). It standardizes data privacy across all EU member states and mandates all organizations who process, store, access, or market data to maintain certain standards and implement protocols around data access, consumer authorization, and data breach notification.

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Blockchain Healthcare Ecosystem Can Help Lower Costs and Enhance Value Care

Blockchain: The Next Big Catalyst in Healthcare

This year’s tech buzzword, Blockchain is poised to become the next big catalyst in healthcare innovation. According to the BIS Research analysis, the global blockchain in the healthcare market is forecasted to reach $5.61 billion by 2025 with double-digit growth throughout 2018-2025. The use of blockchain for healthcare data exchange will contribute the largest market share throughout the forecast period.

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I Cannot Afford the Additional Labor Support I Need

I Cannot Afford the Additional Labor Support I Need | Infinit-O

As your business grows, so will your needs for additional labor support. The problem is that the traditional model of bringing on more employees as your needs increase can be extremely costly. The biggest cost associated with bringing on additional employees is obviously salary or hourly pay. However, calculating how much additional employees will cost in terms of salary is only one part of the equation. To get a true understanding of what additional labor support will cost you-and why you cannot afford it-you also need to calculate the cost of benefits, overhead, and time commitment that come with new employees. Once you identify all the ways that in-house employees increase your costs you can look into your options for reducing those costs.

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Exploring Artificial Intelligence for Accounting and Financial Forecasting

Exploring Artificial Intelligence for Accounting and Financial Forecasting

Current developments in artificial intelligence (AI) and software automation are creating bigger opportunities than threats for most accountancy firms. With an almost limitless capacity to revolutionize how stakeholders make business decisions and interact with each other, AI is poised to become a transformative technology in this generation.

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Is Automation a Good Option for Reducing Labor Costs?

In the past, the idea of automation brought to mind sophisticated robots that could take the place of human workers. While that may still be an interesting idea to ponder, the reality of automation looks much different. Advances in technology have led to an increasing number of processes that can be automated. More and more business owners are looking into the idea of automation as a way to reduce labor costs. The reality is that automation is a viable option for many business owners who are looking for a way to minimize costs in order to serve more clients and increase profits.

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Top 3 Ways to Streamline Your Routine Business Processes

Top 3 Ways to Streamline Your Routine Business Processes | Infinit-O

Streamlined. Simple. Efficient. These three words are ones that can make overwhelmed and overworked business owners take notice. If your routine business processes were streamlined maybe you would have time to devote to other areas of your business. Oftentimes, the upper-level thinking and work that could take your business to the next level get put on the back burner because completing routine processes are a more immediate need. Continue Reading

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Comprehensive Revenue Cycle Management Outsourcing Can Help Prevent Fraud in Chiropractic Care

Comprehensive Revenue Cycle Management Outsourcing Can Help Prevent Fraud in Chiropractic Care

The Office of the Inspector General (OIG) of the US Department of Health and Human Services has recently issued the “Medicare Needs Better Controls to Prevent Fraud, Waste, and Abuse Related to Chiropractic Services” portfolio that identified vulnerabilities and reiterated recommendations from prior reports that have not been implemented or have been implemented ineffectively. It acknowledged that fraud, waste, and abuse “is a concern.”

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Top Options for Minimizing Labor Costs as Your Business Grows

Top Options for Minimizing Labor Costs as Your Business Grows | Infinit-O

It is exciting to see growth in your business. Growth can help you measure how your current efforts are working and aid you in determining what needs to change. In addition, it can be extremely motivating to see your business grow as a result of your hard work. Unfortunately, there are also some frustrating elements to growth that plague many business owners. One of the most frustrating elements that come along with business growth is increasing costs. And the one area of increasing costs where business owners feel the most acute level of pain is labor. As your business grows, you will have to spend more money on labor, there is no way around it. But, there are some steps you can take to minimize the labor costs you encounter as your business grows.

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My Business Needs Immediate Help in Areas of New Growth

My Business Needs Immediate Help in Areas of New Growth | Infinit-O

The needs of your business are going to evolve as it grows. As a result, you will have to be flexible and find ways to meet the evolving needs of your company and your customers. If people are interested in your business or are connecting with your mission then you want to do everything possible to keep things running smoothly so you can capitalize on the things you’re doing right. The question is; how can you keep up with the ever-changing needs of your business as it grows? The answer: outsourcing.

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How CPA Firms Can Streamline Their Practice through Automation and Outsourcing

How CPA Firms Can Streamline Their Practice through Automation and Outsourcing

 

The Age of Automation

The World Economic Forum’s Future of Jobs Report has indicated the years 2018 – 2020 as the pivotal period for the Age of Automation. This is also considered as the beginning of the Fourth Industrial Revolution. Artificial intelligence (AI) and robotic process automation (RPA) are radically transforming business models and operations. Adapting to RPA can afford numerous opportunities for your CPA business, such as reducing error rate and turnaround time and improving services and compliance.

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