Fast-growing businesses can be exhilarating as well as exhausting! The excitement is seeing revenue growth, an expanded customer base, product development, and growth of your team. The downside is CASH FLOW!
*It is estimated that cash flow;
- Keeps 35% of business owners awake at night
- 65% feel “regularly stressed” or “Anxiety”
These stats are not for a lack of experience. The survey average respondent had 10+ years of running a successful business.
Partnering with an outsourcing group can alleviate the sleepless nights and anxious days in multiple ways. Here are three areas that can have an immediate impact on cash flow and efficiency;
Utilizing a well-trained, experienced payroll team member offshore, can reduce your cost by 75% while having a dedicated person managing all processing and reporting.
- Accounts Payable
Hire a full-time A/P manager while utilizing some amazing and efficient APP’s like Bill.com or Expensify.com can make your processes much more accurate. You can also use your team to negotiate discounts.
- Inventory Analyst
Analyzing and maintaining the correct inventory as well as the proper levels can significantly improve sales as well as reduce cash flow drains. Having a trained, outsourcing solution is the answer.
J.W. Oliver is the founding and managing partner for GlobalBPsolutions.com based in Texas with a BP centre in Africa. They are a Christian based business with a desire to help businesses and ministries to be their very best while helping support people and ministries Globally.*Per June 2019 INC Magazine