In | House vs. Outsourced Accounting for Taco Bell | Global Shared Services
As the owner of a Taco Bell franchise, your days are already filled with management decisions, going through sales data, and staying on top of your financial reports. There’s very little time to handle the issues that pop up throughout the day – let alone become the entire accounting department for your restaurant. Taco Bell […]
Your Checklist to a Successful Business Audit | Global Shared Services
When you get the news that your business is undergoing an audit, it’s easy to quickly become overwhelmed with everything that needs to be done. Records need to be compiled, employees need to be prepped, and you need to exude confidence even if you’re worried about the audit’s outcome. If you run a small […]
Why Tech Startups Fail | Global Shared Services
90% of startups fail. It’s a hard statistic to swallow, especially when you’re on track to accomplish your dream of running your own tech startup. But before you convince yourself you’ll be in the 10% that make it, it’s important to take the time to understand why most startups fail and how you can avoid making […]
The Hidden Benefits of Outsourced Accounting | Global Shared Services
Outsourced finance and accounting services have a number of upfront benefits: efficiency and cost savings spring quickly to mind. But there are a number of other benefits, too, that are less obvious but just as valuable. To fully evaluate the viability of outsourced accounting services for franchise restaurants, it’s important to take these into account. With […]
Why Franchise Restaurants Should Outsource Expense and Loan Accounting Validation | Global Shared Services
Tracking business expenses and loans is more important than what most franchise restaurant owners think. Having to track your business expenses and loans is not an exciting activity. After all, it takes your focus away from your main role—looking after the restaurant operations. However, you also don’t want to run around in panic, trying to […]
What is it like working with an outsourced accounting firm? | Global Shared Services
There’s comfort in what we know. That’s true across many aspects of life, and it’s true across many aspects of business, too. In an accounting context, what many mid-sized businesses know is the process of working with an in-house accounting solution. An in-house solution might not be incredibly efficient, but it’s almost certainly comfortingly familiar. […]
Terms You Need to Know for Franchise Accounting | Global Shared Services
When you first start out with your own restaurant franchise, everything can seem to move too fast and easily become overwhelming. Running your own business can be tough. Managing employees, leadership, complying with franchisor regulations, and running the behind-the-scenes of everyday restaurant ownership can be a lot. Don’t let franchise accounting add to your stress. Accounting for […]
Stakeholder Interfacing & Outsourced CFOs: Setting Up Your Tech Startup for Success | Global Shared Services
A single tech startup can have a wide variety of stakeholders. There are many people – from your employees, to investors, to outside organizations – who could be impacted by your startup and have an interest in your success. Because of the wide variety of stakeholders who need to know varying aspects of the financial status […]
What Most Virtual Finance Firms Don’t Do | Global Shared Services
There are a lot of virtual finance firms in the world today. As we’ve discussed before, the abundance of virtual firms makes sense; the technology that makes remote collaboration possible, in tandem with the push for efficiency in service, has given rise to an abundance of outsourcing possibilities. Interestingly, though, the market isn’t evenly distributed. Instead, […]
The Best Way to Outsource Accounts Payable | Global Shared Services
Whether you’re a tech start-up or a franchise restaurant, every business is looking to increase efficiency and cut costs. Outsourcing accounts payable is a great way to make your everyday business processes easier, improve vendor relationships, and increase your efficiency overall. Staying on top of your accounts payable processing requires a hefty amount of paperwork […]