Category: business

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Preparing Your Business for Exploding Growth

Preparing for exploding growth in a business requires careful planning and strategic decision-making. To develop the information necessary to support these activities, businesses must implement their processes and systems to properly collect the data required. Unfortunately, many organizations fail to develop the systems which will support increased activity and business growth, only recognizing after the fact that the process support and the data they need isn’t there. To prevent being caught off guard with more business demand and not enough organization to support it, follow these recommendations to set the business up for success over the long run.

Set clear goals and adjust as required. You need to know what the business purpose is… the objective you hope to achieve with all this activity. Establish SMART goals – specific, measurable, achievable, relevant, and time-bound. With a set of smart goals and a well-defined objective, the business has a clear direction and a guide to assist in decision-making.

Build infrastructure that is scalable. If the business infrastructure can’t handle increased demand, the business can’t grow effectively. Scalable information technology and software systems, robust production capabilities with adequate human resource availability, and increased efficiency in supply chains will help the business meet increasing demand, while improved reporting and business intelligence helps to anticipate potential bottlenecks, allowing for plans to be developed to address them.

Make sure finance and accounting are set for growth. Strengthen overall financial management and review your financial processes to ensure they can accommodate growth. Implementing the right systems and software is necessary to not just optimize production and operations, but to provide a foundation for establishing sound accounting and financial practices which will help the business secure funding and manage cash flow effectively. A good way to evaluate your preparedness for growth is to prepare financial forecasts and stress tests to gauge your business’s financial resilience under various growth scenarios.

Streamline operations and automate where it makes sense. Evaluation of businesses processes is an ongoing task if your business is to continuously work to improve efficiency and effectiveness. Where opportunities for optimization and improvement exist, consider using automation and technology solutions to help streamline operations and reduce manual effort while remaining focused on enhancing customer experience and satisfaction through streamlined processes and improved service delivery.

Plan for Risk and Contingencies. You should try to identify potential risks and challenges associated with rapid growth, such as increased competition, supply chain disruptions, or changes in customer preferences. Develop contingency plans to mitigate these risks and ensure continuity of the business and operation. It may even make sense to consider diversifying your revenue streams to reduce dependency on a single market or product.

Monitor, adjust and adapt as needed. Key performance indicators (KPIs) should be regularly monitored, as should market trends, to stay informed about your business’s progress and to stay on top of industry developments. Use data analytics and reporting tools to gain insights and make data-driven decisions instead of operating on emotion. The business that plans for growth must remain agile and adaptable, adjusting strategies and operations as needed to accommodate changes in demand as they occur.

Preparation for rapid growth requires a proactive approach and continuous evaluation of your business’s readiness. Regularly reassess your strategies, make necessary adjustments, and stay focused on delivering value to customers as you scale.

Mendelson Consulting and the Noobeh cloud services teams are advisors and consultants with expertise in scaling businesses, and can provide valuable insights, guidance, and support throughout the growth process and beyond.

jm bunny feetMake Sense?

J

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Good and Proper Accounting for Small Business

There are many reasons why a small business needs to have quality accounting, and it isn’t just about the cash. Especially when a business is small or growing, a strong financial management and reporting process will benefit the business in a number of important ways. Managing the cashflow and keeping money in the bank to cover payroll and inventory is critical, but good accounting data helps support better decision-making for more than just cash management.

Accounting and financial systems help small businesses keep track of their financial performance. This includes monitoring income and expenses (money in and money out) and creating financial statements. By having accurate and up-to-date financial information, small businesses can make informed decisions about how to allocate resources and grow the business.

Tax compliance is another area where good accounting data is essential. Small businesses are required to file taxes just like larger ones, and proper recordkeeping helps small businesses stay compliant with tax laws and regulations and to avoid penalties and fines.
Securing funding for operations and growth is another area where quality accounting data is critical. Banks and investors usually require financial statements and other financial information before providing any funding. By having accurate and well-organized financial records, small businesses can demonstrate their financial health and increase their chances of securing funding.

Knowing more about the business is always helpful, but being able to look at trends and understand what the numbers indicate is the real power. From budgeting and forecasting to identifying and reducing areas of risk, accounting data is the foundation for developing a true understanding of business activity and performance and finding ways to improve.

Track business performance, remain compliant with taxes, and get funding or investment when it’s needed. With good and proper accounting supporting management decisions, decisions become more informed and relevant and are likely to bring a better result.

jm bunny feetMake Sense?

J

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Data Are Just Data Until You Do Something With It

The business and economic environment isn’t easy. Competition is getting more aggressive, and customers demand more and different options while margins are shrinking, and the cost of operations just seems to go up. Business owners and their CFOs are recognizing the need to change the way they operate, and that they must innovate and adapt with new technology. A more modern approach to business captures data from every aspect of the operation to reveal information not otherwise available, and that information leads to better decision making and deeper insight. Data are just data until it can be transformed into information that matters.

It is possible to change the way critical business decisions are made and to radically improve how the business serves customers, empowers the workforce, and keeps mobile workers working. The key is in leveraging cloud platforms and technologies to enable the collection of data that comes from every business activity.

What if you could identify trends and patterns in sales and customer data, informing your marketing and sales strategies to make them more effective? How about monitoring key performance indicators (KPIs) related to revenues and expenses to improve financial management? Maybe you would like to analyze supply chain and inventory management metrics to find way to optimize those areas of operation.

From software and systems that facilitate field service and mobile work to logistics and supply chain management, business intelligence is developed when the data is available to be combined with other information and reported on in meaningful ways.

Business intelligence comes from all aspects of the business, not just accounting and finance. Particularly in a volatile economy where uncertainty weighs heavily on each and every business owner, it is essential that businesses make the best possible use of their information assets, including finding the best way to identify and capture opportunities which will propel the business forward.

Data is just data, but information is power. We can’t say that often enough.

It takes skill and experience to turn raw data into instant insight, and this is where Mendelson Consulting can help. With a wise and intelligent approach to “enabling” the businesses with tools to help streamline and improve process effectiveness, and structuring systems to capture and integrate data throughout the operation, Mendelson Consulting assists their clients in turning operational and accounting systems into solutions which deliver the data needed to produce actionable information supporting better decision-making.

Cloud platforms enable businesses to take advantage of enterprise technologies without the commitment and spend, and web-based services can solve file sharing and data collection challenges regardless of location. Products like Clearify’s QQube can even transform QuickBooks desktop data for data warehousing or advanced reporting with Microsoft Power BI and more.

Data are just data until you do something with it. Your business should be collecting, analyzing and using all the valuable information it produces.

jm bunny feetMake Sense?

J

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QBonAzure: QuickBooks on Microsoft Azure Delivers Great Success for Small Business


For any business, the resilience and agility of IT systems can mean the difference between performing adequately and performing with great success. When a business elects to run their QuickBooks applications and data on the Microsoft Azure cloud via QuickBooks on Azure (QBonAzure) from Noobeh, they gain numerous advantages not available with locally installed IT.

Microsoft Azure is a highly available platform, meaning that it has built-in redundancy to ensure that applications and data are always accessible, even in the event of a hardware failure. Businesses running on the platform never have to worry about whether or not their server is aging and may fail due to hardware issues.

The platform also allows Noobeh to easily scale each client’s system up or down as needed, without the need for additional installation work. This allows each client business to quickly respond to changes in demand and grow their operations as needed.

With Microsoft Azure, Noobeh can provide from a broad range of security features that are built-in as well as enhancing protection with advanced features and services from Azure, Microsoft 365 and more. This all goes to help protect against data breaches and unauthorized access to sensitive information.

Azure has a global footprint, with data centers in multiple regions around the world. Noobeh provides services from all US-based Microsoft Azure regions, allowing businesses to host their QuickBooks in the location closest to their users, reducing latency and improving performance.

Azure also offers a wide range of services that may be integrated with QuickBooks or other business data, such as analytics, artificial intelligence, and machine learning. This allows businesses to gain deeper insights into their financial data and make more informed decisions.

For businesses focused on compliance, Azure meets a wide range of industry standards and regulations, such as HIPAA, SOC 2, and PCI DSS. This can help businesses meet their compliance requirements and avoid penalties.

Overall, hosting QuickBooks on the Microsoft Azure platform can provide businesses with high availability, scalability, security, global reach, integration, and compliance advantages that can help them run their operations more efficiently and effectively.

Noobeh cloud services and QuickBooks on Azure utilize only the Microsoft cloud for their client deployments so that each business client has the benefits of big enterprise technology without the big enterprise price.

jm bunny feetMake Sense?
J

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4 Rules of Thumb for Better IT Security

Your business is a target. The simple fact of being in business makes it so. There are a lot of bad actors out there who will go to great lengths to get your personal and financial information, and they have many different and innovative approaches to get it. There are some small steps any business can take to make a big impact in protecting business data.

Here we present our 4 Rules of Thumb for better IT security; a starting place if you’re looking for somewhere to begin.

We can’t stress enough that every business should make it a priority to implement some basic information/technology security standards and regular employee training. Having more discussion on the subject helps everyone in the company learn and shows that management is paying attention. Remember that business data isn’t just word documents and spreadsheets. It’s banking and financial and other information, employee information like social security numbers and direct deposit info, customer, vendor information and more. For even a small business, the possibility data exposure or loss isn’t trivial.

NOOBEH cloud services works to keep your QuickBooks on Azure cloud deployment more secure in a variety of ways, but we always start with a few essential policies. These rules and policies can mean the difference between a small IT annoyance or catastrophic failure and data encryption, loss, or exfiltration. If you haven’t implemented these four essential policies in your business IT environment, today is the day to start.

  1. Always use strong passwords, at least 10 to 12 characters, and make them complex. Require passwords to be updated periodically. Don’t reuse passwords and avoid common words or phrases.
  2. Don’t let users operate with permissions greater than required. In applications, consider restricting functionality based on the role or job requirements. On servers and PCs (Windows, Mac, whatever), make sure users are operating as “standard” users rather than system administrators. When you reduce the permissions granted to users you prevent their accounts from performing possibly harmful actions in the system, like installing malware or damaging programs, modifying settings, or even creating backdoor user accounts.
  3. Control user account information and manage it closely. Simply knowing what user accounts exist can give hackers and phishers enough information to begin targeting logins and applying methods to crack them. Part of this includes making sure to remove or disable accounts for user accounts that are no longer needed. Every unused account that remains enabled is just another point of vulnerability. Protect system and administrative accounts and directories (like Microsoft Active Directory). Make certain that you only grant access to sensitive system and account information when absolutely necessary, and only to a completely trusted source. Also make sure to have at least one “break the glass” (back door) admin account you can use if the regular administrative account(s) become compromised.
  4. Limit the installed software to what is needed for the business and keep it current. Make sure operating systems and applications are up to date, and keep browsers and plugins updated to make sure they don’t become the weak link.

Cyber criminals are delivering waves of cyber-attacks that are both highly coordinated and far more advanced than ever before seen. Endpoint attacks have become complicated multi-stage operations, ransomware hits small business and enterprises alike, and stealth crypto mining got criminals into unsuspecting corporate networks. The year has been awash with massive data leaks, expensive ransomware payouts and the realization of a completely new and extremely complicated threat landscape. The bad guys have upped their threat game in a big way.

Diligence is required to help protect valuable business information assets. Following these four rules of thumb will help the business avoid becoming easy prey and can provide a foundation for greater system security and a more streamlined approach to identity management, applications and access.

jm bunny feetMake Sense?
J

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Keeping Your Financial Software Updated: Annual QuickBooks Desktop Service Discontinuation

It’s time again for the annual QuickBooks Desktop service discontinuation notice, which does not mean in any way that QuickBooks Desktop is being discontinued. Rather, Intuit (the makers of QuickBooks) take this time each year to encourage customers to change to QuickBooks Online edition instead of desktop, or for existing desktop users to {sigh} update their desktop software to keep it working fully.

The features and capabilities of QuickBooks Desktop have evolved over time and through a great deal of usage, making the market-leading accounting software for small businesses something that not even its online counterpart can compete with. While QuickBooks Online edition adoption continues to grow, businesses with more mature and complex requirements continue to rely on the tried-and-true capabilities of the QB Desktop editions.

Yet, as technology and business models evolve, so must certain aspects of the beloved QuickBooks Desktop products. Many of these evolutionary changes center on services delivered within the QuickBooks product or as add-on benefits of a particular license type. With identity, license and service management now being handled, at least in part, via web services, QuickBooks is ever-more reliant upon the Intuit.com account and the ability to validate users, roles, license, and services. It is in these areas that service discontinuations tend to focus as older versions of the product no longer support the new methods.

Here is the information Intuit provides regarding service discontinuation for older versions of QuickBooks Desktop (sans the “migrate to QuickBooks Online” messaging).

When does service discontinuation happen and what does it mean?

Access to QuickBooks Desktop add-on services, live technical support, software updates and security patches are all discontinued after May 31, 2023 for QuickBooks Desktop for Windows 2020. This includes all 2020 versions of QuickBooks Desktop Pro, Premier, and Enterprise Solutions (v20). Versions of QuickBooks Desktop earlier than 2020 were discontinued previously, as this is an annual occurrence.

Here is Intuit’s statement regarding service discontinuation:

“Your access to QuickBooks Desktop Payroll Services, Live Support, Online Backup, Online Banking, and other services through QuickBooks Desktop 2020 software will be discontinued after May 31, 2023. This also means you won’t receive critical security updates starting June 1, 2023. If you receive any security updates before this date, install them.

Products affected by service discontinuation after May 31, 2023.

  • QuickBooks Desktop Pro 2020
  • QuickBooks Desktop Premier 2020 (General Business, Contractor, Manufacturing & Wholesale, Nonprofit, Professional Services, and Retail)
  • QuickBooks Enterprise Solutions 20
  • QuickBooks Premier Accountant Edition 2020
  • QuickBooks Enterprise Accountant 20
  • QuickBooks Desktop for Mac 2020”

Keeping your software up to date is important for a variety of reasons. Not only are new features introduced and software bugs patched or fixed, but security enhancements are introduced regularly to keep your data and accounts safe. Further, regulatory and compliance factors play into some of these updates, as is often the case with online banking service and the like.

Securely connecting to bank feeds, email systems, identity management services and other aspects of software functionality and integration are among the reasons for making sure your accounting software is being updated.

For businesses that don’t use or rely on any of the above services for QuickBooks, the software will continue to work. But, even if the software works after the May 31 date, it might not be a great idea to stay on an older un-updated un-patched and semi-functional version of financial software that you run your business and manage your finances with. Just sayin’.


jm bunny feetMake Sense?
J