According to a report in Capital Counselor, the top reason for outsourcing is cost savings. The report said that US outsourcing statistics show only 19.4% of marketers observed any change in outsourcing marketing activities during the pandemic. A CNBC report from last year reported that 60% of businesses closed as a result of the coronavirus

In a world that grapples with a changing landscape, the fight against COVID-19 continues. The significance for businesses is that remote work and work from home are still viable options for employees. In the early days of the pandemic, studies revealed that businesses with some digital capabilities easily adapted to the trend. The move towards

COVID-19 has led many businesses to adapt digital processes, including introducing online processes for transactions with customers. While the first wave of adaptation happened last year, with businesses introducing contactless transactions, the trend continues in the current year. It is expected that digitization will increase further this year and in the time to come. A

According to a report by Owl Labs, nearly 70% of full-time workers in the US are working from home during COVID-19. Working remotely is forcing individuals to find a balance between home and work-related chores, and they are facing difficulties in doing so. One in five reported working more hours per week during the pandemic.

As business communication and transactions go digital, it is important to remember that accounting as a function has always embraced technology. Automation for bookkeeping and accounting practices has proven to be effective. Most number-crunching tasks associated with bookkeeping and accounting are both time and attention-consuming, as well as prone to human error. Automation of basic

Accounting and bookkeeping are fundamental to business success, regardless of the industry in which the business operates. This is equally true for bookkeeping firms and full-service CPA firms. Very often, these firms are inundated with deliverables and may unwittingly neglect their own business requirements. Advisory services can help these busy, multi-tasking businesses to streamline their

The pandemic has demonstrated that there is no such thing as impossible. Services such as food and other retail purchases were already being conducted online. However, innovation in online communication normalized and supported a remote delivery model for many other services including remote consultation for health and medical needs (telemedicine), education (online classes), and many

As businesses continue to battle economic uncertainty in the COVID-19 landscape, startups and small businesses should focus on financial management. Research quoted by Small Business Trends recently shows that 32% of small businesses have cash reserves to last them a month or less, and more than 15% don’t have cash reserves at all. The significance

Accounting automation processes repetitive, high volume, manual tasks with enhanced reliability and reduced errors. Automation allows businesses to redirect resources to focus on information-driven decision-making and crucial business development activities. For accounting, bookkeeping, and CPA firms, consolidating finances and investing in growth strategies is important in aligning the business with the latest in accounting tools

The Paycheck Protection Program (PPP), assisting small business owners affected by the coronavirus pandemic, has faced unprecedented demand. According to Forbes, technical shortfalls and unclear guidelines have created difficulties for businesses, in dire need of support, to access funds. For businesses that received PPP assistance when they needed it, loan forgiveness is paramount. Businesses are