How Dimensional Weight Can Lower Your Shipping Costs
If your business ships any kind of products, then shipping costs are probably a concern for you. You want your products to arrive on-time and damage-free, but you also want to keep the cost of shipping low. Taking advantage of dimensional weight shipping can help you achieve this goal. What is Dimensional Weight? Dimensional weight […]
Increasing Your Business’ Value Before You Retire
For years, you’ve given your all to make your business successful. Now, as you’re approaching retirement, you want to get the very best return on your years of investment. Is it possible to increase the value of your business before you pass the baton? We think so. There are three areas that are important to […]
Our Secret to Cutting Your Costs Quickly and Easily
If you want to increase your company’s profits, there are really only two ways to go about it: you must either increase sales or decrease costs. Of course, we know every business works to increase sales, but we think that cost reduction is the quickest and easiest way to improve your company’s bottom line. But […]
The Importance of an Accounts Payable Audit
When you’re analyzing expenses, it makes sense to start by taking a look at who you are paying and what you’re paying them. An accounts payable audit can help you get a handle on your bills and present a clear picture of where your money is going. We recently talked about auditing your accounts payable […]
Accounts Payable: Auditing for Fraud
Is fraud eating away at your bottom-line? Do you suspect fraud? Maybe you’ve never considered the possibility of fraud in your organization. Have you audited your accounts payable? Read on and consider these facts when you think about your business. Every other year, the Association of Certified Fraud Examiners publishes the results from its global […]
Cost Reduction: 5 Reasons to Hire an Outside Expert
At Silverback, our team works to bring our clients cash. I often hear prospects ask why they would need to engage a company like ours to bring improvement to their bottom line. Sometimes these prospects believe they can do it themselves. So, why not do this internally? The five most common reasons our clients hire us to […]
Hospitals: Costs are Headed Up; Reimbursements Headed Down
If you are involved with healthcare, you understand the need to reduce costs and improve profitability. Here is a graph published by Objective Health related to cost-cutting hospitals and the results of their efforts. Highlights: Only 10.3% of all U.S. hospitals are characterized as “aggressive cost cutters” from 2009 to 2011 Generally these are larger (> […]
Mid-size Companies Losing Bargaining Power
CFO Research Services, in collaboration with American Express, released a report last month titled Cash and Working-Capital Discipline, which describes the financial obstacles for the finance team at mid-size companies. The report identifies the loss of bargaining power with vendors as the most prominent obstacle to improving cash and working-capital: “… Companies seek relief from the pressure they feel on the sales […]
When You Don’t Know What You Don’t Know
Ideally, the title to this article caused you to pause and consider the concept. What happens when you don’t know what you don’t know? Most companies feel secure in what they’re paying for products and services when, in reality, what they’re paying is likely well above market price. Helping companies better understand this is the […]
Management or Leadership: Which Best Describes Your Actions?
While reading an article on the difference between management and leadership in The Wall Street Journal, I spent some time reflecting on the point the author was making: In today’s economy, the line between management and leadership is blurred. “In the new economy, where value comes increasingly from the knowledge of people, and where workers are no longer […]