#Outsourcing Financial Functions

[escalonservices]

When it comes to developing your financial strategy and safeguarding your small business’s financial future, you may find yourself facing this common dilemma: You need expert financial guidance and support, but you don’t yet have the budget or resources to hire a full-time, in-house, fully qualified financial team. 

If that problem sounds familiar, you’re not alone. As many as 80% of early-stage small businesses operate without a Chief Financial Officer (CFO) or controller in place. And unfortunately, what they don’t have can seriously cost them. That’s why an outsourced CFO or financial controller can be one of the most valuable — and cost-effective — financial strategy investments you can make in your small business.

Content Source: - https://escalon.services/blog/outsourced-cfo-vs-controller-which-is-right-for-your-financial-strategy/

[mostlysignssomeportents]

Mass tech worker layoffs and the soft landing

As tech giants reach terminal enshittification, hollowed out to the point where they are barely able to keep their end-users or business customers locked in, the capital classes are ready for the final rug-pull, where all the value is transfered from people who make things for a living to people who own things for a living.

If you’d like an essay-formatted version of this post to read or share, here’s a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:

https://pluralistic.net/2023/03/21/tech-workers/#sharpen-your-blades-boys

“Activist investors” have triggered massive waves of tech layoffs, firing so many tech workers so quickly that it’s hard to even come up with an accurate count. The total is somewhere around 280,000 workers:

https://layoffs.fyi/

These layoffs have nothing to do with “trimming the fat” or correcting the hiring excesses of the lockdown. They’re a project to transfer value from workers, customers and users to shareholders. Google’s layoff of 12,000 workers followed fast on the heels of gargantuan stock buyback where the company pissed away enough money to pay those 12,000 salaries…for the next 27 years.

The equation is simple: the more companies invest in maintenance, research, development, moderation, anti-fraud, customer service and all the other essential functions of the business, the less money there is to remit to people who do nothing and own everything.

The tech sector has grown and grown since the first days of the PC — which were also the first days of neoliberalism (literally: the Apple ][+ went on sale the same year Ronald Reagan hit the campaign trail). But despite a long-run tight labor market for tech workers, there have been two other periods of mass layoffs — the 2001 dotcom collapse and the Great Financial Crisis of 2008.

Both of those were mass extinction events for startups and the workers who depended on them. The mass dislocations of those times were traumatic, and each one had its own aftermath. The dotcom collapse freed up tons of workers, servers, offices and furniture, and a massive surge in useful, user-centric technologies. The Great Financial Crisis created the gig economy and a series of exploitative, scammy “bro” startups, from cryptocurrency grifts to services like Airbnb, bent on converting the world’s housing stock into unlicensed hotel rooms filled with hidden cameras.

Likewise, the post-lockdown layoffs have their own character: as Eira May writes on StackOverflow, many in the vast cohort of laid-off tech workers is finding it relatively easy to find new tech jobs, outside of the tech sector:

https://stackoverflow.blog/2023/03/19/whats-different-about-these-layoffs/

May cites a Ziprecruiter analysis that claims that 80% of laid-off tech workers found tech jobs within 3 months, and that there are 375,000 open tech roles in American firms today (and that figure is growing):

https://www.ziprecruiter.com/blog/laid-off-tech-workers/

There are plenty of tech jobs — just not in tech companies. They’re in “energy and climate technology, healthcare, retail, finance, agriculture, and more” — firms with intensely technical needs and no technical staff. Historically, many of these firms would have outsourced their technological back-ends to the Big Tech firms that just destroyed so many jobs to further enrich the richest people on Earth. Now, those companies are hiring ex-Big Tech employees to run their own services.

The Big Tech firms are locked in a race to see who can eat their seed corn the fastest. Spreading tech expertise out of the tech firms is a good thing, on balance. Big Tech’s vast profits come from smaller businesses in the real economy who couldn’t outbid the tech giants for tech talent — until now.

These mass layoff speak volumes about the ethos of Silicon Valley. The same investors who rent their garments demanding a bailout for Silicon Valley Bank to “help the everyday workers” are also the loudest voices for mass layoffs and transfers to shareholders. The self-styled “angel investor” who spent the weekend of SVB’s collapse all-caps tweeting dire warnings about the impact on “the middle class” and “Main Street” also gleefully DM’ed Elon Musk in the runup to his takeover of Twitter:

Day zero

Sharpen your blades boys 🔪

2 day a week Office requirement = 20% voluntary departures.

https://newsletter.mollywhite.net/p/the-venture-capitalists-dilemma

For many technologists, the allure of digital tools is the possibility of emancipation, a world where we can collaborate to make things without bosses or masters. But for the bosses and masters, automation’s allure is the possibility of getting rid of workers, shattering their power, and replacing them with meeker, cheaper, more easily replaced labor.

That means that workers who go from tech firms to firms in the real economy might be getting lucky — escaping the grasp of bosses who dream of a world where technology lets them pit workers against each other in a race to the bottom on wages, benefits and working conditions, to employers who are glad to have them as partners in their drive to escape Big Tech’s grasp.

Tomorrow (Mar 22), I’m doing a remote talk for the Institute for the Future’s “Changing the Register” series.

Image: University of North Texas Libraries (modified) https://texashistory.unt.edu/ark:/67531/metapth586821/

[Image ID: A group of firefighters holding a safety net under a building from which a man is falling; he is supine and has his hands behind his head. The sky has a faint, greyscale version of the 'Matrix Waterfall' effect. The building bears a Google logo.]

[leenfiend]

welcome to my VFX industry take down post so u can all understand the inner workings of the VFX world a little better  So, big studios actually pay their employees really competitive rates for VFX work, which is why there’s almost never any talk of actually forming a union. The most densely packed places of work are all filled with people who have (kind of) job security and (usually) benefits. The mistreatment comes when those big studios outsource their work to smaller companies and those small companies pay their workers half of what they should be paid, and then the studios pay those small companies half of what they should be paid. And the reason stuff looks so bad now isn’t even because they’re overworking and underpaying us, it’s because their cutting timelines in half. All of us just kind of have to shrug our shoulders and hand the work over because there’s nothing we can do, and it is genuinely frustrating. But that’s not really something a union can fix, we can’t ask them to not make us redo work ten times if they’re paying us the correct rate for it. And that’s what’s happening now - they’re paying us the correct rate (usually) and in my experience I have always been paid for any overtime hours I am asked to work, it’s just that the art directors have an innate misunderstanding of VFX timelines and turnarounds and so things end up looking bad.  The things a union COULD genuinely help with are things like job consistency - most of us work on contracts that start and end when a production does, which means we have no health insurance when the job ends. It creates a really annoying cycle of getting on a new plan, paying out of pocket again, potentially not having insurance offered for the next contract, etc. Working contracts also means sometimes studios will ask you to hold on your next job because they want you back in a month when there’s more work, but they won’t offer to pay you for that month so instead you have to look for a new job. If holding rates were a unionized and normalized thing within the industry it would create better financial consistency for all of us. It could also help with starting rates - I was paid significantly less out of college than my male counterparts were (shock) because there is no standard. A lot of us just have to be candid with each other about how much we’re making so we know we’re not being underpaid for our skillsets. And it could also help with the exploitation of smaller studio workers. I have been on both ends - the small studio being outsourced and the big studio that is doing the outsourcing. The rates for those two jobs are significantly different in a way that they shouldn’t be, because I’m literally doing the same work. But big studios want the cheaper option and so will go to small studios full of recent college graduates and pay them half of what they’re worth - which also, as it turns out, effects the jobs of the people at the big studios! There are a lot of jobs that aren’t kept in house because they would rather underpay someone who doesn’t work for them on a short contract - which means less communication down the line about artistic choices, as well as less work for the actual in house VFX artists. So most of what is actually wrong with the way the industry functions is a long list of management issues. I can’t even tell you the number of times me and my coworkers have been so frustrated that we have no idea what notes an art director gave for a set because it happened months ago at a different studio, on a different call, with a different set of people. We need studios to start utilizing the entirety of their VFX teams for the beginning to the end of the process if we want better looking VFX instead of splitting it up piece-meal to a dozen different studios who will never be able to communicate with each other.    

[traitorsinsalem]

people go "why do u complain about wotc and their affiliated products and franchises just play something else" all the time as if wotc doesn't have a massive monopoly on ttrpgs. i LOVE independent and even one-page ttrpgs, but it's wildly difficult to find people who are willing to play those rather than dnd. i love pathfinder. even that stemmed from dnd 3.5e and wotc's temportarily-outsourced-to-paizo dnd magazines. dnd 5e's release massively boosted the game's declining popularity, alongside hasbro's collaborations with massive media companies to give the game a more positive sociocultural light.

the d20 system itself derives from dnd. third party ttrpgs have widely adapted the system because of dnd's popularity and the knowledge that through that system will they can attract players, even if the use of the d20 system functionally makes the game in question abysmal, especially compared to what it could be with a different system.

wotc's mtg and betrayal at house on the hill are fun for their relatively original, well-structured, and engaging interpersonal gameplay. (at least, from what i've played of house on the hill and what i've seen of mtg. wotc tries to make it beginner-friendly, but the community appears a bit too tight-knit amongst themselves and dismissive of prospective players for me to get into it personally.) dnd, despite being kind of dogshit in comparison to both other wotc games and its ttrpg alternatives, still makes its way into other wotc products (for obvious reasons) and other ttrpgs because of its cultural influence in nerd spheres due to the massive amounts of money hasbro has pumped into maintaining dnd's name (despite it being an entirely different game from the dnd our parents knew) for branding reasons and creating a social perception of the game that will increase player recruitment (which, as it works in the game industry, tenfold for multiplayer games, increases retention).

it pisses me off that there's no way for me, or anyone at all, to engage with ttrpgs and the wider ttrpg community without having some link to wotc chilling in the corner at all times. obviously, if i'm playing a wotc game, that's wotc! duh! and i'm fine with that because it was my choice to play betrayal at house on the hill with my friends. however, due to the corporate snowball of dnd that's been whacked back and forth for decades, i can't choose whether or not wotc is present in the games i play, or hell, the games i run. the wotc dnd monopoly isn't just financial. hell, i would argue that it's primarily cultural.

[erastaffingsolutions]

The Ultimate Guide to Corp-to-Corp (C2C) Contracting for Businesses

When you're running a business or consulting in the economic frontier today, it's crucial to understand the myriad types of contracts that exist between businesses and their hired hands. The corp-to-corp (C2C) contract is one such employment agreement that packs a different punch than the classical W2 or 1099 setups. Read on to demystify the layers of C2C contracting and how it can be a game-changer for your business operations.

What does corp to corp mean?

Corp-to-corp, part of the business terminology shorthand derived from 'corporation to corporation,' is an arrangement where a company engages another established corporate entity for professional services. The hired company, often described as a 'vendor,' performs tasks for the client as an outsourced entity. C2C contracts can vary from long-term partnerships to short, project-based commitments.

One of the distinct characteristics of a C2C agreement is that it is entered into between two independent businesses as legal entities, not between an individual and a company. This setup usually requires a greater level of experience and specializations from the vendor, as they are expected to function with minimal client-side support.

Benefits of C2C Contracts

For businesses considering the leap into the C2C waters, the appeal of this model is clear. C2C can offer a plethora of benefits, some of which include:

Cost-Effectiveness

Outsourcing to a corp-to-corp contractor can often be more cost-effective than hiring a full-time employee or working with an individual contractor. The vendor is responsible for their own taxes, insurance, equipment, and other operational costs, which can relieve the client of these financial burdens.

Specialized Expertise

C2C agreements often involve highly specialized skills that are not commonly found in regular employees. By engaging specialists, businesses can significantly elevate the quality and proficiency of their projects and tasks.

Scalability

C2C contracts can be particularly useful for projects that have fluctuating demands. It allows businesses to scale their workforce up and down as needed without the baggage of permanent staff.

Focus on Core Objectives

By entrusting certain functions to a C2C contractor, businesses can focus their efforts on core objectives and essential tasks, leading to greater productivity and innovation.

Legal and Tax Clarity

C2C relationships often come with more straightforward tax and legal requirements, as both parties are clear on the obligations and responsibilities of the contract.

@erastaffingsolutions

[mariacallous]

Im just so excited and happy for you finding a job that sounds like it will actually serve your interests/needs!!! If u feel comfortable id love to hear more i've been steadily promoting up the ladder at my current place but now im capped out and trying to find something new, but im just so comfortable here. BUT you've moved across the country multiple times now and it just seems so daunting to me its really inspiring to see you grow and do all that tbh

Honestly this job is pretty much what I've been dying to do and wanting for years and it's partly why I'm so excited and happy that it's finally happening and here.

I'm public sector again, which is where I've kinda always wanted to be and where I think it's important to have people who want to make changes and reforms and improve them and also think about and work with the people affected by the systems and departments involved.

My job specifically is to help make the division I work for better - figuring out areas for improvement, addressing bottlenecks and inefficiencies (but in a "how can we make this process work better and proceed quicker while still complying with the requirements, what upgrades can we make to our tech systems so that we and our partners and vendors are not using multiple different ones and having to transfer or re-enter information, how can we ensure our staff are deployed and focusing where it makes the most sense and not having to spend their time on other things" way, not a "how do we cut positions and outsource functions" way), and try to take on more longer-term tasks and projects, and act as a support for the rest of the division without taking on or duplicating the functions and tasks of other divisions and teams.

It's the kind of work and job that I've done in bits and pieces pretty much in all of my jobs, but now it's my entire focus, and not just me shoehorning in a quick project or attempt while also balancing a caseload or other jobs, or having to try to push and advocate on my own or with limited support.

And I never really intended to end up here, tbh - my goal or "plan" when I was younger (so much younger than today) was to go to college and graduate and work for the state department or live and work in DC, but between the great recession which hit right around my junior year of high school, and my family's financial situation and other factors, I kind of plodded along in community college (and doing a ton of nonprofit and local government shit which didn't pay anything but experience and knowledge) until I made my first go of a 4 year school and moved out of state, then had to move back home and do community college again (and nonprofit and local government stuff again) until I made the second go of a 4 year and graduated with my bachelors, and then realized I'd basically stuck myself in the midwest and in MN/ND (where I ended up spending almost a decade, altogether) until covid and the chance to work in nyc higher ed (private denominational) remotely and then make the jump and take the plunge into moving to NYC and getting by there until now.

I'm far from where I thought I wanted to be, and it was such a difficult, tedious, stressful, emotional path, but I ended up in a place and at a stage in my life where things seem to be working out.

[pkchopraco-blog]

Internal audit in India- PK Chopra and Co.

Internal Audit in India is one of the major areas which aid the organization in enhancing business performance by identifying the growth areas with greater scope for improvement and We provides best Internal audit in India, Process Audit Services in India. contact us: +91 98101 58561.

Internal audit in India is a crucial component of corporate governance and risk management within organizations. It involves the systematic review, assessment, and improvement of an organization's operations, controls, and processes to ensure they align with the organization's objectives, policies, and regulatory requirements. Here are some key points to consider about internal audit in India:

Regulatory Framework: Internal audits in India are conducted as per the guidelines set by various regulatory bodies, including the Companies Act, 2013. The Act mandates that certain classes of companies need to establish an internal audit process.

Independence and Objectivity: Internal auditors maintain an independent and objective stance to ensure unbiased evaluation of the organization's operations. They report directly to the Audit Committee or the Board of Directors to ensure their autonomy.

Scope: The scope of internal audit covers a wide range of areas, including financial controls, operational processes, risk management, compliance with laws and regulations, and overall effectiveness of governance structures.

Risk Assessment: Internal auditors assess risks associated with various processes and functions within the organization. This helps in identifying potential areas of vulnerability and designing effective risk mitigation strategies.

Controls Evaluation: Evaluating internal controls is a central aspect of internal audit. Auditors assess the adequacy and effectiveness of internal controls to prevent errors, fraud, and inefficiencies.

Operational Efficiency: Internal audits also focus on enhancing operational efficiency and effectiveness. By identifying process bottlenecks and recommending improvements, they contribute to streamlined operations.

Reporting: Internal auditors prepare comprehensive reports outlining their findings, recommendations, and suggestions for improvements. These reports are presented to management and the Audit Committee for review and action.

Continuous Improvement: Internal audits are not just about identifying problems; they are also about fostering continuous improvement. Auditors work closely with management to implement suggested changes and monitor their impact.

Technology Integration: With the rise of digital transformation, internal auditors in India are increasingly incorporating data analytics and technology tools to improve audit accuracy and efficiency.

Professional Standards: Internal auditors in India follow internationally recognized professional standards, often guided by the Institute of Internal Auditors (IIA) framework. These standards ensure consistency and quality across internal audit practices.

Outsourcing: Some organizations opt to outsource their internal audit functions to specialized firms that provide expertise and objectivity. This practice is gaining popularity in India.

Value Addition: Effective internal audits not only help in compliance but also add value to the organization by identifying opportunities for cost savings, process improvements, and strategic insights.

In conclusion, internal audit in India plays a pivotal role in ensuring organizational integrity, compliance, and performance. It provides a systematic approach to evaluate and enhance various aspects of an organization's operations, contributing to its overall success and sustainability.

[moronhksa]

Financial Consulting Company in Saudi Arabia: Your Trusted Partner for Financial Success

Introduction

Welcome to Moronhksa, your go-to financial consulting company in Saudi Arabia. We specialize in providing top-notch management consulting services, accounting solutions, and expert advice on financial matters. With our extensive experience and deep understanding of the Saudi Arabian business landscape, we are here to help you navigate the complexities of finance and ensure your success. In this article, we will delve into the various aspects of our services, from management consulting to zakat and tax advisory, and demonstrate why we are the best choice for all your financial needs.

Financial Consulting Company in Saudi Arabia

Moronhksa is a leading financial consulting company in Saudi Arabia, trusted by businesses of all sizes and industries. We offer a wide range of services designed to enhance your financial performance and drive growth. Our team of experienced professionals works closely with you to understand your unique requirements and develop tailored solutions that meet your specific goals. From financial analysis to strategic planning, we are committed to providing exceptional services that empower you to make informed decisions and achieve sustainable success.

Management Consulting Firm in Saudi Arabia

As a premier management consulting firm in Saudi Arabia, Moronhksa brings a wealth of expertise and industry knowledge to the table. We assist businesses in optimizing their operations, improving efficiency, and maximizing profitability. Our comprehensive approach encompasses organizational restructuring, process improvement, performance management, and more. By leveraging our deep understanding of the local market dynamics and global best practices, we help you unlock your business's true potential and stay ahead of the competition.

Best Accounting Services in Saudi Arabia

When it comes to Best accounting services in Saudi Arabia, Moronhksa stands out as the best choice. Our team of highly skilled accountants and financial experts is dedicated to delivering accurate, timely, and compliant accounting solutions. From bookkeeping and financial statement preparation to tax compliance and payroll management, we handle all aspects of your accounting needs with utmost professionalism and attention to detail. By outsourcing your accounting functions to us, you can focus on core business activities while enjoying peace of mind knowing that your financial records are in capable hands.

Accounting, Financial, and Management Consultancy in KSA

Moronhksa offers a comprehensive range of consultancy services encompassing accounting, financial, and management consultancy in KSA. We understand that these three pillars are interconnected and crucial for your business's success. Our integrated approach allows us to provide holistic solutions that address your unique challenges and drive growth. Whether you need assistance with financial planning, budgeting, risk management, or internal controls, our experts are here to guide you every step of the way. With our consultancy services, you can optimize your business processes, strengthen your financial position, and achieve sustainable growth.

Zakat and Tax Advisory Service in KSA

Navigating the complexities of zakat and tax regulations in Saudi Arabia can be overwhelming. Moronhksa's zakat and tax advisory service in KSA is specifically designed to simplify the process for you. Our knowledgeable professionals have in-depth expertise in Saudi Arabian tax laws and regulations. We provide comprehensive guidance on zakat calculations, tax planning, compliance, and reporting. By partnering with us, you can ensure that your zakat and tax obligations are fulfilled accurately and efficiently, while maximizing tax benefits and minimizing risks.

FAQs

What are the benefits of hiring a financial consulting company?

Hiring a financial consulting company like Moronhksa offers numerous benefits. Firstly, you gain access to expert knowledge and experience in financial matters, enabling you to make well-informed decisions. Additionally, a consulting firm brings an objective perspective and fresh insights to your business, helping you identify areas for improvement and implement effective strategies. Moreover, outsourcing financial tasks allows you to focus on core business activities and save valuable time and resources.

How can a management consulting firm help my business in Saudi Arabia?

A management consulting firm such as Moronhksa can provide invaluable support to your business in Saudi Arabia. By analyzing your operations, processes, and organizational structure, consultants can identify inefficiencies and recommend improvements. They offer guidance on strategic planning, performance management, and change management, ensuring that your business stays competitive and adapts to evolving market dynamics. With their expertise, consultants help you streamline operations, enhance productivity, and achieve sustainable growth.

What accounting services do you offer in Saudi Arabia?

Moronhksa offers a comprehensive range of accounting services in Saudi Arabia. Our services include bookkeeping, financial statement preparation, tax compliance, payroll management, internal controls, and financial analysis. We ensure that your financial records are accurate, up-to-date, and compliant with local regulations. By outsourcing your accounting functions to us, you can focus on core business activities while enjoying peace of mind knowing that your financial matters are handled by professionals.

Can you provide guidance on zakat and tax matters in KSA?

Absolutely! Moronhksa specializes in providing zakat and tax advisory services in KSA. Our experts have in-depth knowledge of Saudi Arabian zakat and tax regulations and can guide you through the complexities of these matters. We assist with zakat calculations, tax planning, compliance, and reporting, ensuring that you fulfill your obligations accurately and efficiently. Our goal is to help you maximize tax benefits, minimize risks, and navigate the ever-changing zakat and tax landscape.

Why should I choose Moronhksa for financial and management consultancy in KSA?

Moronhksa is your trusted partner for financial and management consultancy in KSA due to several reasons. Firstly, we have extensive experience working with businesses in Saudi Arabia, enabling us to understand the local market dynamics and unique challenges you face. Our team comprises highly skilled professionals who bring diverse expertise and industry knowledge to the table. We are committed to delivering tailored solutions that drive your business's success and provide exceptional value. With Moronhksa, you can trust that you are in capable hands.

How can I get in touch with Moronhksa?

Getting in touch with Moronhksa is easy. You can reach out to us through our website at www.moronhksa.com and fill out the contact form with your inquiries. Alternatively, you can give us a call at +966 55 788 4263 or send us an email at info@moronh.com.sa. We are here to answer your questions, discuss your specific requirements, and provide the support you need for your financial success.

Conclusion

In conclusion, Moronhksa is your trusted partner for financial consulting, management consulting, accounting services, and zakat and tax advisory in Saudi Arabia. Our dedicated team of experts is committed to helping you achieve financial success and growth. With our comprehensive services and industry knowledge, we provide tailored solutions that address your unique needs. Don't hesitate to reach out to us today and discover how Moronhksa can transform your business's financial landscape.

[thebookkeepersrus-blogs]

When Should You Hire a CPA?

There are critical times when your small business requires the services of a CPA (Certified Public Accountant), from selecting a company structure that allows you to save the most money on taxes to offering advice on a significant business move.

As a small business owner, you may find it challenging to determine when to outsource tasks and when to manage them yourself. This is especially true if you’re looking for a certified public accountant (CPA), if you’ve recently established your business or if it’s grown beyond expectations.

While you can easily handle day-to-day accounting on your own, especially if you have decent accounting software or a bookkeeper, there are times when the knowledge of a CPA may help you make wise business decisions, avoid costly mistakes, and save you time.

When to Hire a CPA

#1 When Your Business is Starting Off

Accountantscan assist a small business at different stages of growth. To get your business off to a good financial start you need to consult a CPA. Your accounting and tax reporting responsibilities will be determined by how you register and run your business for the rest of your career.

A CPA may evaluate your business plan, ensure its financial viability, and assist you in preparing a budget to carry it out. If you intend to manage your day-to-day bookkeeping at first, a CPA will also point you in the direction of the best software choices for your specific business plan.

#2 When Filing Taxes or Being Audited

Whether you run a sole proprietorship or a corporation it is a given fact that tax season is a business burden. It is full of risky and expensive mistakes when done incorrectly. Long before the deadline for filing, business owners need to have a second pair of eyes to review their tax forms.

You can assign your tax-related tasks to an accountant, tax preparer, or a CPA who can perform both of these functions in order to spare yourself the hassle. CPAs handle both personal and business taxes, and they are skilled at navigating tax season, reducing your responsibilities, and protecting your company in the event of an error or tax audit. Also, it is best to hire an accountant before an audit happens, especially if you can find one who would provide audit insurance.

It is essential to be reminded that not allaccountantsprepare taxes so before outsourcing a professional be sure to find out whether tax services and protections are provided.

#3 When You Apply for a Loan, Grant, or Other Funding

Even for business owners with a track record of profitable operations, applying for a business loan and other forms of funding can be difficult. Establishing credibility is the first challenge, which is particularly challenging for new firms and startups. However, aCPAcan help you in staying on top of things and navigate the rough waters.

They will assist you in evaluating various strategies for establishing business credit and directing you to low-risk options. Even better, a CPA can help you in narrowing the field of loan options to those that are best suited to your budget such as choosing between a microloan or a standard term loan.

#4 When You Require Assistance with Financial Planning and Analysis

Planning and analysis are two areas where accountants thrive. One of the main advantages of employing an accountant is having access to their depth of financial knowledge.

This is especially true if you work with a CPA who has experience in your field or industry. You can involve them in any financial decision or goal, such as buying property, merging with a rival business, or cutting operating expenses.

#5 When You Need to Save Time

Managing your time can be challenging, especially when you’re facing many deadlines, clients, and complex client tasks.

If daily duties like tracking expenses, verifying transactions, data entry or processing receipts are taking up your time, a bookkeeper could be the right fit for the job. However, if you require a front-line professional to analyze your company’s operations, trends, costs, and revenue on a regular basis, it may be time tohire a CPA.

Time is an important resource, and hiring an accountant may simply come down to how much time your business can save.

The Bottom Line

As you can see, accountants can assist you at every level of your company’s growth. The right accountant should make your life easier so you can focus on what you love.

There is no exact science to knowing when to hire an accountant. However, there are some clear cases where it makes sense to use their skill set. When starting or growing your business, creating a financial plan, evaluating business reports, or applying for funding, consult with an accountant.

Understand your financial situation and make your money work for you and your business. Outsource experts from The Bookkeepers R Us and get those stress off your shoulders! Call us!

[smdtechnosol]

Why might small businesses need to outsource HR?

Small businesses frequently find themselves at a disadvantage when it comes to human resources. It's possible that they don't have enough people or money to handle all of the administrative tasks of running a HR department. In this circumstance, outsourcing might be beneficial. By outsourcing human resources, small businesses can access experienced professionals who can help them manage employee benefits, files, and more. The advantages of outsourcing human resources for small businesses of US staffing agencies include the following:

What precisely is HR outsourcing?

Human resources outsourcing, also known as HRO, is the process of outsourcing procedures and functions related to human resources to a third party. As part of HR outsourcing, HR tasks like payroll, benefits administration, recruiting, and training can all be outsourced. The experts at HR Assured talk about how outsourcing human resources helps businesses work faster and more efficiently. You'll be able to concentrate on your core business as a result, which will ultimately contribute to the growth and success of your company. There are numerous reasons why independent businesses should reconsider their HR requirements. Here are a few:

1. Access to experienced professionals:

At the point when your re-appropriate HR, you approach a gathering of gifted experts who can help you with all parts of HR, including representative advantages and documents, enlistment, furthermore, preparing. This may be a significant advantage for small businesses that lack the resources or personnel to handle these tasks internally. In addition, re-evaluating HR can grant you access to a wider range of expertise than you might be able to access internally.

2. You can save time and money:

HR outsourcing can save money and time. By outsourcing, you can free up your employees to focus on more pressing issues like growing the business. Outsourcing can help you save money by lowering your overhead costs. Additionally, it could help you steer clear of the high costs associated with hiring and training new employees. As a result, outsourcing human resources can help you save time and money over time. For instance, an Aberdeen Group study found that businesses that outsource their HR functions save $960 per employee annually.

In the meantime, a Paychex study found that outsourcing HR and payroll saves small businesses an average of $4000 per year. These studies indicate that outsourcing HR has significant financial benefits.

3. Employee retention can be improved in the following ways:

Additionally, outsourcing human resources can help you improve employee retention. By outsourcing, you can provide your employees with access to a group of skilled professionals who can help them with benefits, job satisfaction, and career development. As a result, employee satisfaction and loyalty may rise and turnover rates decrease. In addition, outsourcing human resources can help you create and implement employee retention programs that can stop your best employees from leaving. You could, for instance, implement an employee retention strategy, create an employee referral program, or pay bonuses to employees who refer others.

4. You can put your attention where it matters most:

HR outsourcing can make it easier to concentrate on your core business. By outsourcing, you can free up your employees to focus on more pressing issues like growing the business.

In addition, outsourcing can help you avoid the high costs of hiring and training new employees. Therefore, outsourcing HR can ultimately help you save time and money.

5. You will benefit from improved performance management as a result:

In addition, re-evaluating HR can help you improve the efficiency of your executive's display. As a result, you will be able to more effectively identify and address issues that affect employee productivity. You can also develop and implement programs for employee performance management that can improve overall business performance by outsourcing human resources. In a similar vein, reappropriating HR can assist you in creating a more viable framework for monitoring and supervising employee execution data. This will eventually lead to improved decision-making and business outcomes.

6. You can more readily control the dangers of consistence:

Outsourcing human resources can also help you better manage compliance risks. As a result, you'll be better able to spot and fix problems that could lead to breaking rules and laws.

By outsourcing HR, you can also create and implement compliance management programs that can help you avoid costly fines.

For small businesses, outsourcing human resources has numerous advantages. With outsourcing, you can save money and time, increase employee retention, and concentrate on your core business. It can also help you better manage compliance risks and make performance management work better. If you want to improve your business, HR outsourcing is a good option to consider.

All that remains is that! These are just a few of the many excellent reasons why small businesses should outsource HR functions. If you're considering HR outsourcing, we hope this article has given you some food for thought.

[plbizconsulting]

Improve The Reputation of Your Business

Companies are looking for online bookkeeping or corporate services in Singapore these days. To meet this expanding public demand, an increasing number of companies offering online bookkeeping services are springing up. Companies prefer to hire online bookkeeping services rather than in-house bookkeepers because they give better and more efficient services. It has shown to be very beneficial and cost effective for larger organisations that have been implementing this technique for a long time. Some firms outsource solely corporate secretarial services, whereas others hire accounting services for the whole accounting department. Financial reporting or inventory reconciling, cash management, budgeting, payment processing, tax preparation, credit cards, bank reconciliation, and other associated services are prevalent.

The primary reason for a company delegating its bookkeeping responsibilities to an online accounting services provider is to allow them to focus more on the core activities and functions that will allow them to make more money at the end of the day. A firm or company is self-sufficient enough to organise its own commercial transactions by employing someone to do it. Hiring an experienced person for accounting services in Singapore, on the other hand, will cost a lot, and recruiting an unskilled employee would cost the training, both of which are overhead costs. To avoid this, a corporation hires firms online who could really complete the task quickly and at a minimal cost. As a result, the parent firm can benefit from the experience of the other company. It can also benefit from the latest technology and accounting tools used by the online bookkeeping services provider. As a consequence, you may usually receive any financial data you desire from him at any moment. This would imply more efficiency in the management of your company's financial affairs.

Building an exact collaboration with an online corporate secretarial Singapore firm is the ideal way for your company to maintain a competitive advantage. As a result, the online company that is best at managing financial tasks will do them quickly, while your company may focus on areas where it excels, leading to the expansion of the company. They can concentrate on the resources that will allow them to get a better result. This excludes the costs of hiring, training, and other activities. Corporate secretary in singapore will eventually pave the path for the company's prosperous future. You already have the chance to enhance your products or services as well as implement some innovations that would allow you to better meet the needs of your clients.

Another significant advantage of choosing the service of Singapore accounting firm is that the financial records delivered to you are accurate. You can total the monthly data to get an estimate of the income statement ratio for the entire year at the end of the year without any delay. You can completely depend on the records because they are error-free and sent to you on time. On the other hand, for further explanation, please properly analyse the reports upon receipt.

[digitalmediacamapgin]

Growing Trend of White Label Services in the US in 2024

In recent years, White Label services have become increasingly popular among businesses in the United States. This trend towards outsourcing non-core functions to specialized providers offers numerous advantages, including enhanced efficiency, scalability, and competitive edge. This blog examines the factors driving the growth of White Label services in the US in 2024.

Economic Efficiency and Cost Savings

White Label services provide a cost-effective alternative for managing non-core functions. By outsourcing activities such as software development, digital marketing, and customer support, businesses can save up to 40% on operational costs. This approach eliminates the need for large in-house teams and substantial infrastructure investments, allowing better allocation of resources.

Additionally, White Label services help businesses achieve higher profitability by reducing overhead costs and enhancing operational efficiency. This financial efficiency allows companies to reinvest savings into innovative projects, market expansion, or improving customer experiences, driving sustainable growth in competitive markets.

Operational Flexibility and Scalability

In today's fast-paced business environment, the ability to scale operations quickly is critical. White Label services provide US businesses with the flexibility to adjust operations in response to market demands. This agility is particularly beneficial for startups and growing enterprises that need to bring new products or services to market quickly without compromising on quality.

For example, businesses using White Label solutions typically experience a 30% reduction in product launch times compared to traditional in-house development. This faster speed-to-market enhances competitive advantage and allows companies to effectively tap into emerging trends and consumer preferences.

Specialized Expertise and Industry Knowledge

White Label providers bring specialized expertise and industry knowledge to the table. Businesses in sectors such as healthcare IT, financial services, e-commerce, and cybersecurity benefit greatly from partnering with firms that possess deep domain knowledge and regulatory compliance expertise.

By collaborating with White Label partners, US businesses can offer tailored solutions that meet the specific needs of their clients. This strategic alignment not only improves service delivery and client satisfaction but also strengthens market positioning through unique offerings that drive revenue growth and profitability.

Leveraging Technological Innovation

Partnering with White Label providers enables US companies to harness cutting-edge technologies and innovations. Whether it's adopting AI-driven analytics, integrating blockchain solutions, or enhancing cybersecurity measures, businesses can leverage external expertise to stay ahead of industry trends and meet customer expectations

[mahamsheikh23]

The Benefits of Outsourcing for Small Businesses

Outsourcing has become a buzzword in the business world, but what exactly does it mean? At its core, outsourcing involves delegating certain business functions or tasks to external agencies or third-party vendors. This practice, once reserved for large corporations, has increasingly become a vital strategy for small businesses looking to thrive in a competitive market. Let’s dive into the numerous benefits of outsourcing for small businesses.

Cost Savings

One of the most significant advantages of outsourcing is the potential for cost savings. Small businesses often operate on tight budgets, and outsourcing can be a financial lifesaver.

Lower Labor Costs

By outsourcing, small businesses can tap into a global labor market where wages might be lower than in their home country. This means significant savings on salaries and benefits without compromising on the quality of work.

Reduced Overhead Expenses

Outsourcing eliminates the need for additional office space, equipment, and other overhead costs associated with hiring in-house staff. This reduction in expenses allows businesses to allocate funds to other critical areas.

Access to Expertise

Small businesses can greatly benefit from the specialized skills and expertise offered by outsourcing partners.

Specialized Skill Sets

Outsourcing provides access to professionals with specific skills and knowledge that might not be available internally. Whether it’s IT support, digital marketing, or accounting, businesses can leverage the expertise of seasoned professionals.

Quality Improvement

With access to experienced and skilled professionals, the quality of work improves, leading to better products and services. This can significantly enhance the reputation and reliability of the business.

Increased Efficiency

Efficiency is key to the success of any business, and outsourcing can help streamline operations.

Focus on Core Activities

By outsourcing non-core functions, small businesses can concentrate on what they do best. This focus on core activities can lead to improved performance and growth.

Streamlined Operations

Outsourcing allows for the delegation of time-consuming tasks, freeing up internal resources. This results in more streamlined and efficient operations.

Scalability

Outsourcing offers the flexibility to scale operations according to business needs.

Flexibility to Scale Up or Down

Businesses can easily scale their operations up or down based on demand without the complexities of hiring or laying off employees. This flexibility is crucial for managing growth and responding to market changes.

Seasonal Adjustments

For businesses that experience seasonal fluctuations, outsourcing provides the ability to adjust the workforce accordingly. This ensures that resources are optimally utilized throughout the year.

Time Savings

Time is a valuable commodity, and outsourcing can help businesses save a considerable amount of it.

Faster Project Completion

Outsourcing partners often have the resources and expertise to complete projects faster than an in-house team might. This speed can be critical for meeting deadlines and staying ahead of the competition.

Delegation of Non-Core Tasks

By outsourcing routine and administrative tasks, business owners can focus their time and energy on strategic initiatives that drive growth and profitability.

Risk Management

Outsourcing can also play a crucial role in managing business risks.

Shared Business Risks

When outsourcing, some of the business risks are transferred to the service provider. This can include regulatory compliance, market fluctuations, and operational challenges, allowing the business to focus on other areas.

Improved Compliance

Many outsourcing partners specialize in areas like finance and IT, where compliance with regulations is crucial. By outsourcing these functions, businesses can ensure they meet all legal and regulatory requirements.

Global Talent Pool

Outsourcing opens the door to a global talent pool, providing access to a diverse and highly skilled workforce.

Access to a Diverse Workforce

Businesses can benefit from the varied skills, experiences, and perspectives of a global workforce. This diversity can lead to innovative solutions and a broader understanding of global markets.

Cultural Perspectives

A diverse team can offer unique cultural insights, which is particularly beneficial for businesses looking to expand internationally or cater to a global audience.

Technological Advancements

Staying current with technology is essential, and outsourcing can provide access to the latest advancements.

Access to Latest Technologies

Outsourcing partners often invest in cutting-edge technologies and tools. By leveraging these resources, small businesses can stay competitive without the hefty investment in technology.

Innovation Opportunities

Access to advanced technologies and innovative practices through outsourcing can lead to new opportunities for business growth and development.

Improved Customer Service

Customer service is a critical component of business success, and outsourcing can enhance this area significantly.

24/7 Support

Outsourcing customer service to countries in different time zones can provide round-the-clock support, ensuring that customers always have access to help when they need it.

Multilingual Services

For businesses with a global customer base, outsourcing can provide multilingual support, improving customer satisfaction and loyalty.

Competitive Advantage

Outsourcing can give small businesses a competitive edge in various ways.

Staying Ahead of Competitors

By leveraging the benefits of outsourcing, small businesses can stay ahead of their competitors. This includes faster project completion, higher quality products, and exceptional customer service.

Focus on Innovation

With more time and resources available, businesses can focus on innovation, leading to new products, services, and market opportunities.

Business Growth

Ultimately, outsourcing can drive significant business growth.

Enhanced Productivity

Outsourcing increases productivity by allowing businesses to focus on core activities and operate more efficiently. This productivity boost can lead to increased revenue and growth.

Expansion Opportunities

With the ability to scale operations and access a global talent pool, small businesses can explore new markets and expansion opportunities, driving further growth.

Case Studies

Numerous small businesses have successfully leveraged outsourcing to achieve their goals.

Success Stories

Many companies have seen significant improvements in cost savings, efficiency, and growth through outsourcing. These success stories serve as inspiration for other small businesses considering this strategy.

Lessons Learned

While outsourcing offers many benefits, it’s essential to approach it strategically. Learning from others’ experiences can help businesses avoid common pitfalls and maximize the advantages of outsourcing.

Challenges of Outsourcing

Despite its many benefits, outsourcing is not without challenges.

Potential Drawbacks

Issues such as communication barriers, quality control, and dependency on external partners can pose challenges. It’s important to address these proactively.

How to Overcome Them

Establishing clear communication channels, setting performance metrics, and building strong relationships with outsourcing partners can mitigate these challenges and ensure a successful outsourcing experience.

Conclusion

Outsourcing offers numerous benefits for small businesses, from cost savings and access to expertise to increased efficiency and business growth. By carefully selecting outsourcing partners and strategically integrating outsourcing into their operations, small businesses can leverage these advantages to thrive in a competitive market.

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[mariacallous]

At the end of the first U.S. occupation of Haiti—a period of brutal domination from 1915 to 1934—a critic warned that U.S. forces would not be gone for long. U.S. President Franklin D. Roosevelt’s State Department had left Haiti in the hands of a man friendly to its core interests: the Haitian conservative Sténio Vincent, whose otherwise fervent nationalism was tempered by a deep affection for U.S.-centric capitalism.

The critic, the American journalist and orator William Pickens, wrote in the NAACP’s flagship magazine, The Crisis, in June 1935: “The marines are gone, but the American Financial Adviser is still there, collecting for American creditors, and if opposing Haitian factions start cutting each other’s throats with their machetes, [Vincent] may yell for the marines to come and help him protect the money bags.”

Now, another yell is coming from Port-au-Prince. In October, the government of Ariel Henry, Haiti’s de facto prime minister and president, called for a foreign military intervention—“the immediate deployment of a specialized armed force, in sufficient quantity” to stop the street gangs that are terrorizing the population and cutting off access to Haiti’s ports, most crucially the one that receives and stores Haiti’s imports of oil and gas. He did not specify which nation would oversee this armed force. But anyone with even a cursory knowledge of Haitian history—or access to a map—knew the only country he could be referring to.

Vincent never needed to call for the Marines, but in the main Pickens got it right: In the nearly 90 years since that first U.S. occupation ended, U.S. and U.S.-backed forces have remained the most constant factor in Haiti: training and arming Haitian militaries, meddling in elections, and alternately reinstalling and overthrowing Haiti’s leaders. In the last 30 years, U.S. troops have invaded or otherwise intervened in Haiti three times: in post-coup invasions in 1994 and 2004 and to quell feared unrest (which never materialized) after the 2010 earthquake.

In the intervening time, the United States explicitly outsourced its occupations to other countries’ troops: first, a U.N. mission from 1993 to 1997, and then under a mostly Brazilian-led multinational force that controlled Haiti’s streets and rural areas from 2004 to 2019. The latter force, known by its French initials as Minustah, left as its main gifts to Haiti an abandoned generation of children fathered by the U.N. troops and a catastrophic cholera epidemic started by a battalion from Nepal.

Two years after the last U.N. mission left, in July 2021, Haitian President Jovenel Moïse was assassinated at his home in a suburb of Port-au-Prince. Moïse was the hand-picked successor of Michel “Sweet Micky” Martelly, a popular singer-turned-right-wing nationalist who became president thanks to the electoral interference of the Obama administration in the post-2010 earthquake election. (Martelly had been allowed to go through to the second round after then-U.S. Secretary of State Hillary Clinton accused the sitting president of fraud to benefit his own protégé.) Though the plot that led to Moïse’s assassination remains unsolved, this much is clear: He was killed by a group of gunmen, mostly consisting of Colombians and claiming to be agents of the U.S. Drug Enforcement Administration (DEA). Indeed, at least two of them were in fact former DEA informants. A New York Times investigation found evidence that the men may have been looking for a list of drug traffickers Moïse was intending to expose. The Intercept reported that several had received U.S. military training.

By the time of his death, Moïse, with the tacit support of the Trump administration, had allowed Haiti’s already hollowed-out government to effectively collapse around him. There was no functioning parliament or plans to elect one. He had overstayed the end of his constitutional term and was ruling by decree. Gangsters, along with elements of the Haitian police and the reconstituted Haitian army, carried out a series of massacres; a Harvard Law School study detailed “a widespread and systematic pattern that further state and organizational policies to control and repress communities at the forefront of government opposition.”

The most notorious of those gangsters was and is Jimmy “Barbecue” Chérizier, a former Haitian National Police officer and head of a gang consortium that calls itself the “G9 Family and Allies.” (His nickname is said to be an allusion to a penchant for burning his victims.) The Harvard study reported that, in November 2018, armed gangs led by Chérizier carried out a massacre of at least 71 people in the slum of La Saline, raping at least 11 women and destroying 150 homes. According to the study, “In the weeks before the attack, two senior officials from Moïse’s administration, Pierre Richard Duplan and Fednel Monchéry, met with then-police officer and gang leader Jimmy Chérizier alias Barbecue to plan and provide resources for the attack.” (Chérizier has denied any links to the Moïse government.) Further massacres followed.

Moïse’s death left an inescapable power vacuum. Institutionally, it was filled by then-71-year-old Ariel Henry, a neurosurgeon who entered politics as part of the coalition that fomented the 2004 coup against the leftist Jean-Bertrand Aristide. Moïse had announced his intention to nominate Henry as his prime minister (the No. 2 role in the Haitian system), but given the lack of a parliament, that nomination was never confirmed. Instead, Henry was installed by press release: an announcement from the so-called Core Group (a consortium of ambassadors headed by the United States, France, and Canada that includes representatives of the United Nations, European Union, and Organization of American States), which called on Henry to form a government—despite his lack of a democratic mandate.

In the streets, the power vacuum has been filled by the gangs, particularly Chérizier’s G9 alliance, which among other things now controls access to the country’s main fuel port. Those gangs are, by necessity, allied with and financed by Haiti’s tiny clique of import-export oligarchs, who use them as muscle to grab territory and settle scores. The exact web of connections and alliances is opaque, for obvious reasons. But when something as profitable as a port is in play, it is not the nearby poor but people at the uppermost echelons of Haitian society who have the most to gain or lose from which areas the gangs control.

It was against that backdrop that Henry’s government requested the foreign force, in its words, “to avoid a complete asphyxiation of the national economy.” The United States responded with, ultimately, a pair of resolutions in the U.N. Security Council. The first, approved by the council last week, authorized a travel ban, asset freeze, and arms embargo against individuals it deems “as responsible for or complicit in, or having engaged in, directly or indirectly, actions that threaten the peace, security or stability of Haiti.” That could include some of Haiti’s oligarchs or politicians, but for now the only person explicitly named in the resolution is Chérizier. This prompted the spectacle of representatives of the world’s most powerful nations, including the United States, Russia, and China, taking a break from arguing over the war in Ukraine to talking about a gang leader named “Barbecue.” It was undoubtedly the highlight of the year for a man who has styled himself as a “revolutionary” and clearly dreams of even greater national power.

The second resolution, which has not yet been approved, proposes “a limited, carefully scoped non-UN mission led by a partner country with the deep, necessary experience required for such an effort to be effective, and whom the United States could find ways to support.” The “non-UN mission” part implies that this would not be a force directed by the U.N. Department of Peace Operations or outfitted in the trademark blue helmets, which have now been thoroughly discredited in Haiti thanks to Minustah’s malfeasance. (Ironically, a resurgence of the cholera epidemic that the U.N. caused, and has since entirely escaped accountability for, is one of the justifications for this new mission.)

The “partner country” is not specified. But it is likely Mexico, which co-sponsored the resolution along with the United States. Why would Mexico want to intervene in Haiti? Well, there has been a major surge in Haitians seeking refuge in or trying to enter the United States through Mexico. In 2021, Haitians became the largest group of asylum-seekers in Mexico, exceeding the number of people trying to flee violence in Honduras and nearly equaling all other sources of asylum-seekers combined.

Late last year, the Biden administration was chastened by a media storm surrounding the arrival of Haitian refugees crossing from the Mexican state of Coahuila to Del Rio, Texas. The Mexican army has been trained, financed, and equipped by the United States under the so-called Mérida Initiative, aimed at ending that country’s ongoing drug wars—which would fit the definition of “deep, necessary experience required for such an effort,” at least from the State Department’s point of view.

But as Michael Paarlberg has argued, the Mérida Initiative is a prime example “of dysfunctional U.S security cooperation arrangements with foreign governments” that foster corruption and violence instead of lessening them. In Mexico’s case, that is likely because it ignores the core U.S. involvement in narcotrafficking: providing a market for drugs headed north and a seemingly unlimited source for the weaponry heading south.

In Haiti—which has its own obvious problems with narcotrafficking—the U.S.-supported rot runs even deeper, to the democratic vacuum that a century of U.S. invasions, occupations, and interference has left in its wake. Sending an armed force to do battle with one Haitian gang and its sponsors may briefly win the de facto government (or Chérizier’s other rivals) access to the fuel port, but it will do nothing to make Haiti a safer or more stable place for its people to live in the medium or long term.

It is not clear when or if the resolution approving an armed force will be taken up by the Security Council. China and Russia have both signaled skepticism about the U.S.-backed mission. Asked for comment, a State Department spokesperson told me: “While we envision this mission would be authorized by the [Security Council], such a mission would rely on voluntary support from the international community, and our draft resolution explicitly asks for contributions of personnel, equipment, and other resources.” Already, the U.S. Coast Guard Cutter Northland has been dispatched to the Bay of Port-au-Prince, and the United States and Canada have jointly delivered tactical vehicles “and other supplies” to the Henry government.

This will, in effect, just bolster another gang: the clique that Henry currently represents, its allied elites, and whatever loyal faction they favor within the Haitian National Police. In other words, outside force may give a different group access to the fuel port and keep the current clique in relative power a little longer. But it will do nothing to prevent the violence and inequality that rive Haitian society. Only forcing the unpopular and manifestly undemocratic Henry government to share or cede power, preparing the ground for eventual elections and a return to Haitian democracy, and ending a century of destructive U.S. interference in their affairs, will give ordinary Haitians a shot at survival.

[sophiasmithg]

What Couldn't You Do with Ruby on Rails?

Ruby on Rails is a prominent framework for developing web apps, with more than 4,00,000 websites globally. It is mostly associated with the backend, making it a suitable choice for eCommerce applications and others. 

Today, top giants such as Netflix, Airbnb, GitHub, etc, use Ruby on Rails. As per the Stackoverflow developers survey, 5.49% of developers are still using it. Then why do businesses think it is still relevant to use Rails in 2024?

Let’s discuss why some developers avoid it and when not to use Ruby on Rails. Hire a Ruby on Rails outsourcing company for advanced Ruby on Rails development services. 

What is Ruby on Rails?

Ruby on Rails is a versatile web app framework written in Ruby language. It is generally used for developing prototypes at an affordable cost. It allows developers to build scalable, flexible, and robust web apps with a seamless developing experience. 

It is built on the Model-View-Controller framework with core features that make RoR unique.

Don’t Repeat Yourself: It encourages code reuse to reduce development efforts and time, with 30-40% faster development time.

Active Record Pattern: It simplifies Object-relational mapping for faster queries.

Convention-Over-Configuration (CoC): it decreases the number of decisions and improves the developer’s productivity.

However, it still has its reasons for not being popular.

Where to Use Ruby on Rails?

You can use Ruby on Rails for the following use cases.

Marketplaces

Software as a Service (SaaS)

MVP and prototypes

Mobile backend development

Educational platforms

Social networking sites

Project management tools

AI/ML and IoT solutions

Hire a hire ror developer for next-gen integrations to meet current market needs. 

Why do People Think RoR is Dying?

Due to its limited usage and fewer updates, it is less preferred. You might not be able to build modern-age web apps with old functionalities. 

The two major issues that developers face with RoR.

Performance issues

RoRa has a slower runtime compared to other frameworks, such as Nodejs. This issue becomes significant in the case of complex apps with huge traffic and user requests, as the framework takes time to load the app. It also demonstrates high CPU usage spiking to 50% or even 100%, slowing down the speed. 

The server and the database also affect the overall speed. Because top brands like GitHub and Airbnb use Rails as the backend and are scaling perfectly.

Scalability issues

It shows less scalability than other frameworks, due to its limited support for concurrency and asynchronous processing. 

You must consult a Ruby on Rails outsourcing company to implement best practices for optimum results. 

When is Ruby on Rails Not a Suitable choice?

The above reasons limit the use of Ruby on Rails in various scenarios.

High-Performance Real-Time Applications: Rails offers tools for real-time features, such as Action Cable. However, you cannot use it for high-performance real-time applications like gaming servers or financial trading platforms.

Highly CPU-Intensive Tasks: Due to the Global Interpreter Lock (GIL) in the Ruby programming language, RoR is not suitable for highly CPU-intensive tasks or parallel processing. 

Microservices Architecture: However, you can build microservices using Rails, but some developers prefer lightweight frameworks like Flask (Python), Express (Node.js), or Gin (Go) due to their minimalistic nature and better performance.

Extremely Large-Scale Applications: You can add more servers using Rails and scale horizontally, still it may face challenges in complex and large-scale applications with large user requests and complex business logic. 

Highly Specialized Use Cases: For highly specialized use cases that require specific language features, libraries, or integration with niche technologies, other frameworks or languages might be more appropriate. 

While Ruby on Rails is a powerful and productive framework for web development, it's essential to evaluate the specific requirements and constraints of your project to determine whether it's the best tool for the job. Connect with OnGraph, a leading Ruby on Rails development agency with a dedicated Ruby on Rails development team. 

We Help you Build Ruby on Rails application by Following Best Practices

Ruby on Rails enables the creation of fast, scalable, and safe apps. Our skilled developers can assist you in building top-notch web apps for any industry.

At OnGraph, a leading Ruby on Rails web development company, provide experienced Ruby on Rails developers to craft cutting-edge software.

Content Source URL: https://rubyonrails.blogadvize.com/34430947/what-couldn-t-you-do-with-ruby-on-rails

[medical-billing-service-0]

An Overview of Medical Billing and Coding Services in the USA

Medical billing and coding services in USA involve translating healthcare services, diagnoses, and procedures into standardized codes for billing purposes. These services ensure accurate and efficient processing of insurance claims, facilitating proper reimbursement to healthcare providers. Medical coders assign specific codes from systems like ICD-10, CPT, and HCPCS to patient records, while billing professionals create and submit claims based on these codes. Together, these services help manage revenue cycles, reduce errors, prevent fraud, and maintain compliance with healthcare regulations. By outsourcing or integrating these services, healthcare facilities can improve operational efficiency and focus more on patient care.

Why Medical Billing and Coding Services Are Essential for US Healthcare

Medical billing and coding services are vital in the USA as they ensure the financial health and operational efficiency of healthcare providers. Accurate coding translates patient services into standardized codes, facilitating seamless insurance claims processing and proper reimbursement. Efficient billing processes reduce claim denials, enhance revenue cycle management, and prevent fraud and compliance issues. These services also contribute to maintaining comprehensive patient records, aiding in better data analysis and healthcare planning. By outsourcing or optimizing these functions, healthcare facilities can focus more on patient care, improve financial stability, and navigate the complex healthcare reimbursement landscape effectively.

Why Effective Revenue Cycle Management is Vital for Healthcare Providers

Effective Revenue Cycle Management (RCM) is vital for healthcare providers as it ensures the financial health and sustainability of their operations. RCM involves managing the entire process from patient registration and appointment scheduling to billing and payment collection. By optimizing these processes, healthcare providers can reduce claim denials, accelerate payment cycles, and improve cash flow. Effective RCM also enhances patient satisfaction by streamlining administrative procedures and reducing billing errors. Moreover, it helps healthcare providers comply with regulatory requirements and make informed financial decisions, ultimately supporting the delivery of high-quality patient care.

How Much Do Medical Billing and Coding Services Really Cost?  

The cost of medical billing and coding services in the USA varies based on several factors, including the volume and complexity of claims, the specialty of the practice, and whether services are managed in-house or outsourced. In-house billing typically involves expenses related to salaries, benefits, software, and training for coding staff. Outsourcing can be cost-effective, with pricing models such as per-claim fees, percentage of collections, or flat monthly rates. On average, outsourcing costs range from 4% to 10% of monthly collections. It's crucial for healthcare providers to evaluate these options to determine the most cost-effective solution for their needs.

Top Medical Coding Services for Your Business

Medi Claim Management offers comprehensive medical billing and coding services to ensure accurate, compliant coding practices and efficient revenue cycle management. Our certified professionals specialize in major coding systems, aiming to maximize legitimate reimbursements and minimize compliance risks. Services provided include revenue integrity, denial prevention, and increased collections, managed by a team with decades of experience. We handle various coding complexities, including HCPCS Level I/II, to keep reimbursements on track, allowing healthcare providers to focus on patient care. For more information, visit Medi Claim Management.