A new year is here, and it’s an ideal time to review your business practices in addition to your personal goals. The retail industry has seen many changes in the last decade, and whether you’re running a brick and mortar store or an online shop, there are always a few key areas to keep an eye on.
Non-profits by their very nature face specialized issues and circumstances that require mission-focused management and strong teambuilding. Utilizing the help of enterprise resource planning (ERP) system can help immensely with the nitty-gritty of operations, financial management, human resources, donations, and more. While running a successful non-profit or non-governmental organization takes a wide variety of skills and competencies, there are a few core areas to strengthen to form a solid base on which to build.
New small businesses face unique financial management challenges because they don’t share the same advantages that larger corporations do in the marketplace. Cash flow is a primary concern. Even with a promising product or service that is performing well, and deals being made that will pay out in the future, there is still a limited amount of cash on hand to pay for current expenses. Owners may not receive a steady income for an uncomfortable length of time because paying employees and the bills come first.
The early stages of a start-up are an exciting time filled with hopes and fears alike. You have an idea that people really need and will find greatly useful. Planning and executing your innovative, unique, and possibly risky idea can be thrilling, but it requires a delicate balancing of sober preparation and careful management with bold moves and forward momentum. Accessing the right resources and expertise, research, and finding the best people are the foundation for success.
Expanding into global markets is an exciting prospect that comes with many advantages, but it can feel intimidating and overwhelming. There are always fears attached to new ventures. Thankfully, good preparation and accessing the right resources can make things much easier. By embracing the help of consultants, you can reap the benefits of their knowledge and experience with success. Whether you’re a start-up that wants to jump on international opportunities early in the game, or you’re an established business that has found it’s finally time to go for it, using an enterprise resource planning system, doing proper research, and organizing logistics are key areas to focus on to make your expansion go smoothly – from planning to execution to daily operations. At IWI Consulting Group, we’re business management software experts assisting Canadian businesses and non-profits to use enterprise resource planning and customer relationship management systems to improve their current operations and expand into new markets. These software solutions can be custom-fit to suit your company’s needs, now and in the future, with consulting support and resources. Focal Points For Expansion: Utilize An ERP Solution. An enterprise resource planning system can help your business expand into new markets plus increase overall […]
Consumers stream massive amounts of content for entertainment and information purposes, for work and leisure; scalable, flexible, and reliable cloud capabilities have made this possible. They want to enjoy these services from many locations and on a wide array of devices. Binge-watching the latest dystopian sci-fi series at home and composing a tweet-storm during the morning commute are both cloud-based functionalities that require reliable services and connection. Social media platforms, entertainment streaming services like Netflix and Hulu, live streaming events, and virtual meeting spaces, to name a few, wouldn’t be possible without the cloud. Media companies need to stay on the cutting edge of technology and they were some of the first enterprises to realize the potential of the cloud. Maintaining big data processing, ingesting, transcoding, and transferring huge files in several formats – and doing so securely – is made much more efficient with multi-cloud solutions. There can be sudden spikes in demand, and the ability to scale up to meet this and other unanticipated events is invaluable. Some Benefits Include: Companies that are expanding, or ones that are downsizing, benefit from the scalability of cloud computing services. There is no need to hire IT staff to install, upgrade, […]
The end of the year is in sight but it’s not time to slow down. The final months of a year is a great time to reflect on successes, consider areas that need improvement, and continue ongoing brainstorming for new initiatives and plans. There’s always room for growth; key areas to work on are market research, social outreach, and resource management and planning. IWI Consulting Group offers IT and Sage consulting services for enterprises who are looking to improve their efficiency and growth, plus transition from traditional practices to the digital realm. With over 100 plus years of combined expertise in various industries and with combined technological knowledge, we can help your business implement Enterprise Resource Planning and Customer Relationship Management solutions for a competitive advantage. Below are three areas that are important to not only keep an eye on but to make pillars of your company’s entire growth strategy. Include Trend-watching in Growth Marketing Your market research already includes competencies in areas like targeting your demo, testing and feedback, sales, advertising, pricing, distribution, and more. It’s important to add trend-watching to this list to help bolster the others. Before developing or launching anything new, take the time to study […]
You can have an innovative product or unique and useful service, and you can have a great team of enthusiastic employees with refined skills, but if you can’t sell your product, it all goes to waste. Knowing how to sell and how to increase sales may seem like obvious must-haves for businesses, but it can often be a weak point that can crumble an entire operation. Mid-sized and small businesses account for the majority of sales in Canada and the US, and there are several ways your teams can improve sales and grab a bigger slice of the marketplace. Have a strong but smart digital presence. Many companies make the mistake of thinking they need a presence on every social media platform and to spam their customers with constant emails and newsletters. Strong means quality not quantity. Use the social applications that suit your target audience or customer base, i.e., Snapchat for a younger demo and Facebook for a more mature one. Hire creative professionals to build solid platforms for you with concise and complete information for current and new customers. Shop around to find reasonably priced rates for a graphic designer for your logo, a copywriter who can […]
A business can’t thrive without effective financial management. It takes expert skills and tools to properly plan, implement, and monitor resources, especially for mid-sized businesses with complex operations and a moderate budget to handle. To make the best use of your resources, track and manage core financials, and to stay competitive in an ever-evolving marketplace, it’s vital to have complete information at your and your team’s fingertips. There is no doubt monitoring financials is complex. Stellar financial management requires powerful management tools in the cloud. IWI Consulting Group is an enterprise resource planning (ERP) and Sage software provider that can help by customizing an AICPA-endorsed solution like Sage Intacct for your business. The system is designed to be flexible and adapt to suit your needs. With these core financials you can increase productivity and efficiency to accurately manage and grow your business. It includes: A flexible and scalable general ledger with full visibility Enhanced purchasing to set the optimal price at the right time Order management for high volumes, complex processes, and tailored pricing details Easy accounts payable and receivable A full picture of cash and capital management Accessible dashboards and reporting to control operations and financial data […]
Growing a non-profit has unique challenges compared to a standard corporation. Generally, many NGOs and non-profits are providing a service to the community or the environment, researching and innovating in a target area, and occasionally selling products, often as a supportive segment for a larger charitable cause. Finding and managing employees and volunteers, board members overseeing operations, sourcing funding and other resources, and garnering support from local businesses and sponsors, are some of the areas that can operate differently within a charitable organization versus a traditional brick-and-mortar store, online retailer, or insurance company. Some ways that non-profits can see growth in their size and their revenue includes bringing on teams of well-reviewed, interviewed, and qualified volunteers, both regular and occasional, who need to meet a requirement for service in the community. Providing learning opportunities, skills training, and adding other benefits adjacent to your cause for volunteers (beyond the goodness they’ll feel in their hearts) is a good way to attract high quality workers who may even stick around after their requirement is met. Having a solid team of paid employees and continually adding to your staff and payroll will also attract potential candidates who want to introduce themselves and their […]