How AI is Revolutionizing eCommerce Accounting Practices?
By integrating AI, e-commerce businesses can make data-driven decisions, enhance customer experiences,
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Now you do. Knowledge is the ultimate arsenal any businessman can have. Unlock the power of application-based knowledge and unmatched expertise developed with over 12+ years of experience in CFO services.
Years of
Experience
A CFO focuses on making your organization more valuable to shareholders and increasing the return on your business. They do this by forecasting cash flow, optimizing cost centers, managing corporate capital accounts, and introducing high-value processes. This means more cash, increased profit margins, and more opportunities for your business.
Some specific ways that an outsourced CFO or virtual CFO can deliver growth-propelling results are:
Years of
Experience
We will work together on identifying business opportunities and challenges keeping you from achieving your business goals.
Our virtual CFO will identify and measure the gap between your current and desired state so as to create an achievable action plan.
Our virtual CFO will chalk out a detailed action plan along with the usage of applications, integrations and systems to achieve the objectives.
After implementation, we will keep evaluating and optimizing your processes and systems as per feedback. These processes and systems are reviewed every quarter.
We specialize in NetSuite Accounting and Bookkeeping services for small to midsize businesses. Leverage our deep knowledge of accounting concepts and explore a super-organized process to tie 100s of variables. We guarantee that you'll never ever have to change your accountants again!
Schedule a free consultation now with Gary Jain, Co-founder at Ledger Labs. He’s a certified accountant with 12+ years of multidimensional experience in helping small to midsized businesses grow and manage their revenues.
Get hands-on knowledge and astute advice on your financials in an engaging power-packed 30 minutes session.
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My main problem always has been to know my accurate profits & this is precisely what ledger labs helped me with. They went through my entire supply chain costs, my monthly operational expenses, and COGS and got me the correct costing of my goods and the cost of running the business. Now I know how much I need to sell & at what price I should sell it to be profitable.
Since working with Ledger labs, our bookkeeping and Controller processes have been streamlined. The routine accounting tasks are managed on a predictable schedule, and checklists are used to ensure that all required documents are processed within the proper deadlines. We have improved the accuracy and timeliness of our financial statements and other crucial accounting functions at a lower cost than what was being paid to employees.
We have a unique business, and almost all the accounting firms we have engaged so far have been unable to get a hold of our business. But Ledger Labs really took the bull by its horn. They understood our business better than us & created a very customized process & systems to streamline our accounting department. We now have detailed step-by-step process documentation, checklists & schedule of reports.
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An outsourced CFO and an accountant are poles apart. The outsourced CFO is responsible for financial management and strategic financial planning whereas the accountant can only read, record, and report transactions and financial statements related to your business. The accountant will not be able to suggest ways for optimal utilization of your finances.
When you grow fast you will find that your finance staff will be unable to manage all the technicalities and challenges. As a result you will not be able to make informed decisions. That's where a CFO comes in. So you need a CFO if:
- Your business is growing fast.
- You are facing some problems in managing the cash incomings and outgoings.
- You need someone to deal with and manage your finances from different sources.
- The board has decided to take over some business or sell a small portion of yours.
In all these cases, you should consider the assistance of an outsourced CFO or virtual CFO.
No, you are free to communicate with your virtual CFO as you like. Whether it's regular phone calls, emails, texts, online meetings, Skype or any other mode of communication, you can stay connected with the CFO. So keeping in touch is never an issue.
If you decide to proceed with complete Ledger Labs services, your CFO consulting team will comprise of CFO, tax controller, and two accountants.
Trust us, we know! Over the years we've worked with different companies in different industries. So we can safely say that we already have the knowledge about your working model and the industry you're in. However, for a better understanding of your business, we will take some time while we prepare to serve you the best.
Once we analyze the KPIs or the best-performing areas and sectors of the business, we work to fight the weaker points and allow your business to grow.
As we will need to conduct a thorough study of your business and its environment, it will take us 30 to 60 days before the final onboarding. To provide the best full time or fractional CFO services, we choose our clients selectively. This keep things smooth for both, you and us.
Understandable! Rest assured your data security is our primary concern. We take utmost care while handling your business data at all times. We upload the data directly to the client’s servers. Then, we use a two-factor authentication process for anyone to access the data. That way your data stays safe from any unauthorized use.
Definitely! Signing a contract puts us both in a position where we can trust each other with both data and deliverables. So, for the safety of our company and our clients, we do not proceed without signing a contract.
The tenure of your onboarding will depend on the complexity of your business. We will research extensively to learn about your business and its environment. However, in general, the onboarding process will take 30 to 60 days after your first communication with us.
Sometimes, companies hire a CFO for their business however, that CFO may not have the requisite skills. At times, these CFOs execute only day-to-day operations of the business like inventory management, recording of accounts, etc. but may not be equipped with the knowledge to create and implement strategic changes. So, it’s best for you to hire solid and reliable CFO services like ours.
We don't judge our clients on the basis of their scale of operations or revenue. We welcome all clients for all kinds of financial services with open arms. However, in general, our clients have an annual revenue of around 1-20 million USD.
Our service charges are not entirely fixed and depend upon the size and complexity of the business. Additionally, goals and challenges of our clients can also affect the charges. What you can be sure of is that we will deliver the best services at affordable costs.
Generally, organizations with an annual revenue of less than 50 million USD do not need a full-time in-house CFO as there's not enough work for them. Additionally, it proves to be rather cost prohibitive to hire CFO services at 300,000 USD or more. As outsourced CFO services cost much less, businesses prefer those over full time CFOs.
Our multidimensional experience and wide exposure have been channelized beautifully in these articles!
By integrating AI, e-commerce businesses can make data-driven decisions, enhance customer experiences,
Integrating Netsuite with Oracle helps in improving your financial reporting, inventory management,
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Helping busy founders and busy owners streamline their accounting & bookkeeping with services designed from and for the perspective of business owners.
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