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 (> […]
Healthcare Reform: What Should You Do First?
Healthcare reform is coming! You might hear it referred to as the Patient Protection and Affordable Care Act (PPACA), or a host of other names. Regardless, it will be here before you know it. If you employ more than 50 full-time equivalent workers (FTEs), there are a few simple steps you can take to help you navigate healthcare reform: […]
You Are in for a Shock: Electricity Rates Are Rising
The State Utility Forecasting group is projecting a rise in electricity rates of 20% over the next six years. What can you do about this? From a pure rate standpoint, not much or at least here in Indiana where the rate that you are charged for electricity is regulated. If you are fortunate enough to own […]
Credit Card Settlement: Is It Good for Your Business?
Visa, MasterCard and other banks have agreed to pay more than $7 billion to settle an antitrust case brought on behalf of retailers. Is this settlement good for your business? Every time you use your credit card, a percentage-based fee is created. This percentage varies based on the amount of the purchase and the type of credit card. For the retailer, […]
Coming Soon: 401K Plan Disclosure Rules Take Effect
If your company has a self-directed 401K plan, there are new disclosure rules that take effect no later than Aug.30, 2012. The U.S. Department of Labor (DOL) legally requires the plan sponsor to disclose in writing the fees and other “reasonable” nature of the funds selected in the plan. Additionally, specific Employee Retirement Income Security Act (ERISA) language requires plan sponsors to […]