Category: Business Best Practices

Are Past Due Balances Putting Your Cash Flow at Risk?

Cash is the lifeblood of every business. Maintaining healthy cash flow is key in providing sufficient working capital to fund operations. One potential cash flow trap is accounts receivable. If you have a business that sells to wholesale customers, you typically have to offer them payment terms. Collection from these customers can be a challenge.… Read more »

People-Processes-Systems

In this article, I discuss the origin of the idea that organizations should first invest in people, then development of core processes, and finally systems (technologies) that will support the first two. The Evolution of Popular Thought on this Topic It is unclear who first coined the phrase “People-Processes-Systems” that many companies continue to cite… Read more »

How Employee Vacations Can Benefit Your Business

A vital part of evaluating a company’s internal controls is to verify that employees actually take their vacations. In today’s work environment, some employees may believe that foregoing their vacations proves that they are dedicated and hard-working. It is often considered a badge of honor to take very little, if any, time off.  Even though… Read more »