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After all, hiring, training, and retaining highly-qualified accountants could be costly, and if they leave, you have to start the process again. However, you can outsource your entire finance department in a cost-efficient way, in addition to all the other advantages that outsourcing can offer. The main benefits of outsourcing your finance department are that you don’t need to hire as many people as you once thought, and you have access to specialist knowledge without all the headache that comes with managing in-house staff.

Based on the 4th quarter data of 2021, 53% of the UK’s SMEs reported a profit in the previous 12 months. However, it’s one of the lowest results in the past decade. In this article, we discuss practical strategies to help you boost profitability, so stay tuned until the end. After all, profit margins measure how well a business is doing, so it’s critical to keep them in check.

Budgeting for a small business is one of the most critical steps in the planning process. It is important to gather accurate financial data, forecasts, and industry analysis to ensure that your budget accurately reflects your business's needs. Without a well-crafted budget, making sound business decisions and tracking progress towards your goals can be challenging. Additionally, business budgeting helps you to allocate resources effectively and identify potential areas of cost savings.

Unlike accounts receivable, accounts payable often get less attention since businesses naturally prioritise revenue-generating tasks. However, optimising accounts payable performance can provide a base for accurate cash flow forecasting while allowing to reach higher profit margins. This article will discuss how companies can improve their accounts payable processes to maximise value, so stay until the end to learn it all.

With the last few decades of rapid technological changes, e-commerce has become one of the most popular forms of business opportunity worldwide. In fact, Britain is the third largest eCommerce market accounting for 30% of global eCommerce sales. In today’s article, we’ll cover the best accounting practices for online businesses.

Successful business debt management techniques can help business leaders to utilise debts while maintaining a healthy cash flow or reassess their strategies for a better long-term outcome. A well-managed debt is vital for a company’s health and credit rating, and while debts can be useful, all liabilities require frequent and regular attention. If you want to find out the most effective tips for business debt management, read this article.

When it comes to payroll, over 60% of UK companies outsource it, taking advantage of more affordable services. Has your business considered payroll outsourcing as well? If you aren't already outsourcing this critical business activity, keep reading to learn more about the advantages of doing so and how to choose the right financial partner for your outsourced payroll function.

Financial data is an increasingly popular target for data theft, with three times as many cyberattacks conducted in the first quarter of 2021 than in 2019. This article will explore the importance of financial data security and what actions you can take to protect your financial information, so stay tuned until the end.

Cash flow is one of the most important tasks to get right for the financial health of any business. With effective cash flow management, companies can create a steady flow of capital to ensure that the essential needs of running an organisation are met. So, without further ado, let’s get started.

Effective and meticulous accounting is the backbone of every business. As strategic partner accountants offer services that can help a company develop strategy, make decisions, and adhere to accounting standards and regulations. With this article, we want to bring you up to date with the top ten accounting industry statistics and trends that can help your decision-making when choosing the right accounting partner for your business.