Significant Rise in Utility Bills Ahead
CNN has recently reported the results of a poll regarding energy consumption and the new rules being imposed by the Environmental Protection Agency: higher utility bills lie ahead. According to the poll, 90% of the 500 polled utility executives believe that new regulations will lead to higher utility bills. Of those 90%, more than 50% believed that utility […]
Fleet Cost Formula: Is It Really This Simple?
As part of a fleet reduction initiative, the city of Philadelphia developed a formula designed to quantify the relationship between size of fleet and overall costs, an Automotive Fleet article reports. In this formula fleet size was a super-variable in determining aggregate costs. FC = (A + R/M + F+ I/O) x #V (A = acquisition costs. R/M = repair/maintenance costs. […]
Indiana State Unemployment Taxes: Did Your Company Overpay?
Legislation passed in 2009 increased the employee taxable wages from the first $7,000 to the first $9,500. This increase had a start date that was later postponed to a date later in the year. Many companies failed to correct this postponement and may have overpaid. In fact, according to a recent IBJ article, of 91 businesses audited by the Department […]
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 […]
Grant Money Available for Recycling in Indiana
If your business is considering steps to “going green,” grant money is available. The Indiana Department of Environmental Management’s Recycling Market Development Program is designed to aid private businesses in purchasing equipment needed specifically to remanufacture recyclable materials into finished products or industrial feedstocks. The grants range from $25,000 up to $200,000 with a required 50 percent match. […]
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 […]
Vendor Purchasing Agreements: Who’s Complying?
Most organizations have vendor purchasing agreements, an agreement that notes how much you pay based upon the purchase volume. During the course of our ongoing work for a client, we recently discovered an issue (error) with the vendor complying with purchasing agreement terms. In this case, we were auditing for compliance with carrier usage on the transportation side. Over the course of our […]
Packaging Costs: Finding Big Money in Small Changes
If your company is involved in manufacturing, most likely you are involved in packaging. The cost impact of your packaging is reflected on many lines of your financials. Two large impact areas include: Material Specs – This is the most fundamental part of the process. The materials must meet your needs in order to protect your product as well […]
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 […]
Workers’ Compensation: Making that Premium a Little Less Painful
Understanding workers’ compensation insurance is daunting to say the least. Many components of this calculation can impact the rate you pay. Some of these components are: Remuneration – The rate per hundred dollars of remuneration (most often payroll) Classifications – Each classification applies to rate per hundred based on the varying exposure to injury. For example, the roofer is more likely to be exposed to injury compared […]