Uncategorized

Best Practices in Tax Planning for Business Leaders
Best Practices in Tax Planning for Business Leaders 1024 536 Rock Creek Consulting Group

Here are some guidelines to help business leaders manage their tax affairs, in conjunction with their Accountants. Effective tax planning helps minimize tax liability, ensure compliance, and improve cash flow.  Put Tax on the Leadership Agenda Waiting until the end of the financial year limits options. Start early and actively engage in tax planning. Develop…

read more
Recruitment in 2024: How Leaders will Attract Talented Employees
Recruitment in 2024: How Leaders will Attract Talented Employees 1024 536 Rock Creek Consulting Group

Recruiting employees is challenging for many businesses. Leaders need talented and loyal teams… So how are they responding to the changing recruitment landscape? Here are some recent trends. Virtual Recruiting Virtual recruiting has taken hold. It was once unthinkable that an employee could be hired without an in-person meeting with their manager. Virtual recruiting means…

read more
Engaging a ‘Virtual’ or ‘Fractional’ CFO
Engaging a ‘Virtual’ or ‘Fractional’ CFO 1024 536 Rock Creek Consulting Group

Not all businesses need (or can afford) a full-time head of finance. But, in addition to accurate and regular financial reporting, they need a strategic view of finance whether that means budgeting, business planning, forecasting, fundraising, financial modeling, acquiring a business and so on. Outsourcing Outsourcing is a common way to save overhead… and ‘remote…

read more
7 Ways Businesses Avoid Cyber Fraud
7 Ways Businesses Avoid Cyber Fraud 1024 536 Rock Creek Consulting Group

In a world of digital financial networks and online commerce, the risks of cyber fraud are greatly increased. What is cyber fraud? Cyber fraud is criminal activity that either targets or uses a computer, a computer network or a networked device. Usually cybercriminals or hackers set out to make money… but some have political or…

read more
6 Ways to Improve Cash Flow by Managing Receivables (Collections)
6 Ways to Improve Cash Flow by Managing Receivables (Collections) 1024 683 Rock Creek Consulting Group

All businesses should carefully monitor their cash position. Healthy cash reserves enable investment in growth, allow distributions to owners or – for some businesses – can be a matter of survival. In any case, cash management is critical. One way to improve the cash position is to carefully manage Accounts Receivable (or collections). Here are…

read more
9 Ways to Strengthen Financial Controls in a Remote Work Environment
9 Ways to Strengthen Financial Controls in a Remote Work Environment 1024 536 Rock Creek Consulting Group

Employing remote workers presents additional challenges related to financial controls.  Managers and employees may not believe they are at risk but studies by the Association of Certified Fraud Examiners show companies with less than 100 employees are more likely to lose money to fraud.  Leaders need to demonstrate the importance of improving financial security and…

read more
9 Ways to Reduce IT Costs
9 Ways to Reduce IT Costs 1024 536 Rock Creek Consulting Group

One expense that can grow out of control in many businesses is Information Technology (IT).  Tweaking investment in IT increases performance and profitability and sometimes major cutbacks are necessary. Either way, it’s best to be systematic. Here are some ways to economize on IT spending.  Audit your tech stack The first step is to understand…

read more
Reviewing Costs… to Increase Cash and Drive Profits
Reviewing Costs… to Increase Cash and Drive Profits 1024 536 Rock Creek Consulting Group

All businesses should review their expenses periodically.  Prudent expense management helps ensure that valuable cash resources are used wisely. And sometimes, a business may NEED TO reduce expenses as a matter of survival. No matter what the circumstances, here are some Best Practices in reviewing and managing expenses. Look first at non-core functions When cost-cutting,…

read more
Managing High Levels of Business Debt
Managing High Levels of Business Debt 1024 536 Rock Creek Consulting Group

An important responsibility of leaders is figuring out how to fund business operations and growth plans.  In the best case, a business will generate enough cash for operations, growth and shareholder dividends. However in many cases, leaders need to borrow money for growth and, in tough times, even the operations of their businesses. Debt has…

read more
Using KPIs to Drive Management Decisions
Using KPIs to Drive Management Decisions 1024 536 Rock Creek Consulting Group

Key Performance Indicators (KPI‘s) are important management tools and we encourage business leaders to use KPI’s in their businesses. What is a KPI? A KPI is a quantifiable measurement or metric which helps track the progress towards business goals. Leaders use KPI’s to make better, data-driven decisions. They also guide behavior, productivity and decision-making, while…

read more