5 Things You Can Do to Improve Your Business Finances

Implementing strategic financial practices can accelerate operational efficiency, helping increase fiscal stability, and support sustainable growth for small businesses like yours. Aurio has 5 proven tips to implement actionable insights for small business owners to navigate the financial challenges they will face at some point running their business. Knowing how to approach these challenges effectively will help you achieve long-term success.

As a business owner when it comes to your finances one good point of view to take into consideration is that if you fail to plan, you are planning to fail. This is especially true when it comes to your business financial plan. That’s where Aurio comes buzzing into the scene, we know all about strategic financial planning. We aren’t just here for the bookkeeping; we’re along for the entire financial journey.

Here are 5 areas our financial team implements strategies for success into businesses like yours to improve your finances:

1. Expense Management - for any business, the budget is your roadmap as you navigate business decisions and even plan for future expansion routes.

2. Automated Bill Payments - paying bills manually takes time away from growth-driven tasks such as customer acquisition and product development. There’s also the risk of missing payment deadlines and incurring late fees. We can refine your process by automating those payments. You’ll benefit from increased productivity and reduced penalties.

3. Technology Consulting -start by identifying common processes that are slowing down your business efficiency such as outdated payment collection and incompatible business systems.

4. Custom Reports - don’t stress over having to look over several spreadsheets or emails for the data you need. When business owners can quickly find and access data from their custom reports, they can identify trends, spot potential issues before they become an issue, and initiate opportunities for growth.

5. Payroll Support - as a business owner you might have encountered the burden that managing payroll can present at times, especially when you’re handling many other business tasks each day. Your financial team can present you with tools to simplify and automate the tasks of payroll processing.

Your financial team aims to optimize your business to align with your company's mission. We leverage industry specific tools and technology to identify new growth opportunities and establish standard processes to provide predictive analysis and insights.

Together we outline a path for execution, across all functional areas.

Business Quote

“Beware of little expenses; a leak will sink a great ship” -Benjamin Franklin  

This quote highlights the importance of managing even small expenses, as they can accumulate and impact profitability.

Business References

1. Avoiding Business Accounting Challenges and Problems

2. 14 Bookkeeping Basics for Small Business Owners | Indeed.com

Business Lesson

As a business owner your strength may not be finances, but with Aurio’s financial team you don’t have to worry about being a financial expert. We’ll guide you on your financial journey and help you to make informed decisions, save time, have accurate books, and grow your business.

Book Recommendation

If you want to take your business in the right direction, you need to be in control of your finances and be able to make strategic decisions with confidence. Whether you own or manage a business, SCORE is the ultimate handbook that will help you master the fundamentals of effective decision-making for your finances.

SCORE: The fundamentals of building a financially successful business written by Amol Maheshwari and Shweta Jhajharia