While this year has been surrounded by uncertainty, one thing is for sure: businesses both large and small are migrating to the digital world. It’s true, digitizing documents is key to optimizing workflows. However, when it comes to the procure-to-pay space, not all digital invoices and purchase orders are the same. First of all, what is procure-to-pay? If you’re not familiar, procure-to-pay is the process of integrating purchasing and accounts payable systems to create greater efficiencies. So, why haven’t businesses made this shift already? Many small- to medium-sized businesses (SMBs) struggle to move to the digital world because they still […]

For many years, “big media” controlled entertainment and the news. Just in the past decade, this has all shifted. What most of us read, view and listen to is no longer focused on a small number of companies. We now find ourselves in the middle of the era of the creator economy – a stronger economy. What is this creator economy? This term refers to individual creators like artists, podcasters and YouTubers. These individuals have achieved success by building a business around their personal brand and connecting directly with their audience. This has all been made possible through easy-to-use consumer […]

Could your business benefit from utilizing a business credit card? In addition to providing access to cash flow and financial flexibility, a business credit card also helps you better separate personal and business expenses, boost your credit rating and earn business perks like discounts and rewards. You might be wondering how the process works, how to apply and how hard it is to get one. It’s true, it does involve some research and gathering the correct information. However, in preparing beforehand, you will significantly speed up the process and ensure you’ve chosen the right card for your business. Are you […]

When you planned on becoming a small business owner, your thoughts were likely filled with your big idea, the people you hoped to surround yourself with, where to open your shop and how to reach your customers. To this day, the last thing you likely want to spend time on is accounting. But understanding your finances is critical if you want to ensure your business continues to run smoothly. To lessen some of the burdens, there are many software options that can help you automate all the tedious tasks you wish to avoid. Below, you will find a list of […]

Owning and operating a small business has always been challenging. From insufficient cash flow and poor business practices to a disengaged team and no customers, there are many reasons why a business might find itself on the road of no return. Regardless of the cause, if you’ve found yourself on this path, it’s time to get some guidance. You’ve now started the real test of entrepreneurship: the ability to make it through tough times – and we are definitely living in a time of uncertainty and obstacles. If this year has left you with a struggling enterprise, here are six […]

When most small business owners look at payment processing, they’re thinking of it as a line item on their operating budget. Something that must be checked off of the list, a necessary part of doing business. Yes, it does have a big impact on revenue, but it is so much more than that. Good payment processing can help your business grow. In fact, payment processing should be a big part of your overall growth strategy. More payments obviously mean more revenue for your business, but if used correctly, it can actually help your business scale strategically over time. The key […]

You encounter the real money challenges of running a business when you’re short of finances and in a tight situation that threatens to halt operations on your premises. Business financing is your safety during such times, and the quicker it comes, the faster you can fix the situation before it escalates into tragedy. So what are some of the fastest ways to get commercial funding to survive unexpected business expenses like equipment breakdowns, a pandemic, cash flow problems, or funding sudden growth opportunities? Invoice Financing Invoice financing is acquiring finances in exchange for your pending invoices. A business can finance […]

Cash flow is a growing concern among small businesses struggling to survive through a challenging economy. And because such times are purely dependent on proper cashflow management than profit generation, you want to try as much to improve the flow of money in your business. Below are some tips to monitor the inflow and outflow of your business:     Use Invoice Factoring Instead of Taking Out a Loan Try invoice factoring instead of seeking bank loans. Invoice financing is acquiring finances in exchange for your pending invoices. This is an excellent way to get access to the working capital […]

In the crescendo of the pandemic, as businesses struggled to stay afloat despite tough economic times, most hoped the federal relief packages—the Paycheck Protection Program (PPP), in particular—would come to their rescue. But that wasn’t the case, according to KB and Katie Brown’s print business in Minneapolis. Even after applying with three lenders, they never received any Coronavirus relief loans disbursed between April and August. “It just doesn’t seem like the program was built to support small businesses,” lamented KB Brown, who is witnessing small companies in his Black-dominated and low-income communities suffer to their closure. “It’s bullshit.” Congress’s instructions […]