Inventory is the collection of goods a company has in its stock. This includes raw materials, unfinished goods, and goods that are ready to be sold. Generally, inventory refers to the finished goods. This can also include the raw materials required for the production of finished goods called work in progress. Inventory turnover…
DetailsThe process of producing products and services and their further rebranding and advertising under another brand’s name is required is known as white labeling. The main objective of white labeling is to increase customer loyalty by providing them worthy services and reduce the cost of resources & development required for making new software from scratch.…
DetailsOne of the best investments a small business owner can make is in people—both employees and customers. And you can easily serve your people with simple customer relationship management (CRM) software. The vast majority of companies have systems to handle data about product management. However, plenty of data and analysis is out there and received…
DetailsThe most awaited and new tax system of India i.e., GST came into existence on 1st July 2017. After this, most of the businesses were able to continue smoothly as they adopted GST Compliance. But there are many businesses still that are not very sure about various compliances which can lead to heavy fines and…
DetailsUnless you’re a bookkeeper or accountant by profession, you rarely don’t spend time thinking about the two (but hey, no shame if you do). Similarly, you probably don’t know that there’s a distinction between bookkeeping and accounting. That is because, for most of you, bookkeeping and accounting are the same—well, not entirely wrong. Indeed, bookkeeping…
DetailsSmall business owners make up for a majority of the working class around the world. Here are some numbers to support this claim: Small business units form close to 58% of the total employment. This number goes considerably up in low and middle-income countries. It might come as a surprise, but in countries that…
DetailsWhy You Should Consider Starting an Online Business During the Pandemic For most niches, a business cannot continue as usual. Brick and mortar stores will feel the pinch that comes with behaving responsibly amid a global pandemic. Existing enterprises have an advantage over nascent ones, but they’re still struggling. Yet, according to the Wall Street…
DetailsIt is the duty of every company, regardless of size, to accurately track and report the money flowing in and out of its accounts by way of sales, expenses, and payrolls, but many entrepreneurs lack the knowledge and experience necessary to make this happen. Proper bookkeeping management is not only a necessity for complying with…
DetailsHere’s an interesting statistic: at least 40% of online transactions are now done using mobile. With that in mind, more and more brands nowadays are using a responsive web design approach. However, to foster engagement and build brand loyalty, having a responsive web design alone won’t suffice. You also need to optimize your website for mobile search engine…
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