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4 Areas in Finance Where Information Technology Greatly Helps

Information technology (IT) has helped companies in so many ways, especially when it comes to preventing cyberattacks and threat intelligence, improving the way we save our information on the cloud, and transmitting data from one source to another. Businesses across the globe now cannot function without an IT team backing up their servers and protecting important data such as company information, personal data of their employees and clients or customers, and behavioral data for marketing automation tools. IT is now an integral part of any business model, but while companies may understand the importance of IT, they still experience roadblocks like lack of training or underinvestment may have a harder time adapting to the highly digitized world.

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3 Best Practices for Improving Financial Management Reports

Financial management reports can cover anything from income statements, profit and loss summaries, and tax filings to retained earnings. Regardless of what you plan to cover in the next report, your business will need an efficient system that goes beyond presenting these details in an organized manner. You want to also improve the decision-making and responsiveness that arises from the report. You want stakeholders to act according to your findings and view the information provided as useful in the long run.

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5 Ways Outsourcing Improves Your Company’s Mortgage Processing

The US housing crisis from 2006 to 2009 changed how banks approved their mortgage loans. They’ve become stricter with the approval of these loans. Before the housing issue, the average borrower paid 20% of their down payment. Today’s borrowers only pay 5%, which has a significant impact on a mortgage lending business’s profit and operational costs. Can mortgage processing be done at a lower cost such that the lender or bank can focus on improving their services within these circumstances?

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3 Practical Ways to Create Intelligence Reports for Smart Business Strategies

In today’s highly competitive, digital market, any company requires updated data and a thorough analysis that will lead the way to actionable items. Business intelligence reports use services and software that turn data into actionable insights that your company can use for both its tactical and strategic decisions. A thorough business intelligence report will provide stakeholders and managers the key information and analysis around these findings in the form of graphs, charts, summaries, reports, and dashboards.

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5 Big Finance & Accounting Trends in 2020

Businesses are now going beyond the best practices in accounting and see now that digital innovations are improving financial processes. These address pain points in production output, operational costs, and return on investment, among others. Finance leaders are now creating a balance of maintaining their traditional responsibilities while developing a corporate strategy with digitization and automation in mind.

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How to Integrate Automation & the Human Touch in Accounting Processes

Accounting is one of the most tedious and time-consuming tasks in any business. Deadlines enable faster work but the stress of the job increases chances of error. Thankfully, it is no longer the 1990s and automation is here to aid your accountants in this crucial season. Companies can still save on the costs and reduce the time spent on processing the different aspects of accounting. Automation allows you to streamline your company’s accounting and invest in cost-efficient resources. 

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3 Best Practices for Risk Management

Risk management is a developing field that has become crucial to any business. Many startups and small businesses can look to this field for best practices and advice on how to protect their business as it grows.

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When to Outsource Your Accounting Processes

Though not the most exciting part of a business, accounting is an absolute essential. It is well known that managing a business' finances can be quite tedious and time-consuming. In fact, accounting goes beyond simply counting expenses and revenue and even acts as a guide for complying with laws and regulations, analyzing your business' financial health, and give you data to improve growth strategies.

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4 Ways to Improve Your Accounting Process

Improving your accounting processes leads to less time wasted by accountants. It can also result in increased loss prevention and improved revenue flow.

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4 (Lesser Known) Benefits of Outsourcing Accounting Processes

Accounting is, without a doubt, an integral part of any business. Small mistakes in a business's accounting can cost the company bottom-line dollars, in many cases significant dollars.

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