According to a 2016 benchmarking report by Compass, a management report solution for online businesses, the checkout abandonment rate in e-commerce sits at 25 percent. Think about it: That’s a quarter of your customers! The report further breaks down the numbers by product.
In the past few weeks, Facebook has come under unprecedented fire for giving up the personal information of more than 50 million of its users. In 2014, political consulting firm Cambridge Analytica used a researchers’ app to access the Facebook data of 270,000 consenting individuals — and to plunder info from millions upon millions of their unsuspecting friends.
In today’s hyper-competitive marketplace, it’s important to give your business every possible operational edge. When it comes to your precious inventory, there’s no time for outdated spreadsheets or software that requires you to be tied down to a specific location. You need multiple users to access inventory data anytime, anywhere with best of breed online inventory management.
A year ago, P.F. Chang’s finance chief Jim Bell and his team were wasting time. As Bell told the Wall Street Journal, they regularly spent hours sending out their sheafs of spreadsheets to team leaders at their 415 U.S. restaurants. The process was clunky, but, Bell and his team thought, a necessary evil.
Over the past few months, it seems like every conversation between accountants has turned to the subject of cryptocurrency. There was a time not that long ago when the only person in your office who knew about this radical new form of currency was the wild-eyed staff member who spent their off hours trading Bitcoin.
Like it or not, simply doing your job well isn’t enough to stand out in today’s hyper-competitive marketplace. If you want to grow your accounting practice, you have to exceed expectations and deliver a client experience that will garner rave reviews.
With self-serve accounting solutions on the rise, and the market more competitive than ever, savvy accountants need to be on the lookout for any opportunity to add value to the client experience. And in the midst of a shifting technological landscape, it’s clear that there is one avenue that will keep accountants relevant long-term: technology consulting.