BTerrell Group Blog

Nonprofit organizations, like other for profit businesses, are not immune from the requirements of the Affordable Care Act (ACA) reporting.  A nonprofit that employs 50 or more ‘full time equivalent employees,’ as defined in ACA legislation, triggers action.  In addition, nonprofits could be eligible for ‘small business health care tax credits’ if they have fewer than 25 employees.  If you are confused about the new ACA reporting, you aren’t alone.  Here’s what you need to know now and what you can do to remain compliant.

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Business leaders spend hours in meetings discussing the pricing structure for certain products or services.  Getting the price point just right is deemed so critical for many reasons, yet so many businesses get it wrong right out of the gate.  As suggested in “Why Your Early Pricing is Wrong (And It Doesn’t Really Matter),” posted by Etienne Garbugli on LeanB2BBook.com, a pricing model is most often based on the cost of the product and pays little or no attention to value in the context of the buyer.  The perceived benefit to the customer is the key factor to consider when setting a price. 

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We are right around the corner from the one of the busiest shopping seasons and most retailers have already released clever marketing campaigns to attract holiday shoppers.  While many shoppers take to the store, many are also looking online and businesses offering ecommerce have the opportunity to bolster sales, particularly on Cyber-Monday.  All the more reason to make sure you have an ecommerce strategy in place and one that’s integrated with your business management solution.

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If you could peek into the accounting departments of other businesses, you’ll find a variety of teams that operate somewhere between dysfunctional and highly innovative.  The ability to manage finances depends greatly on the technology at hand.  As indicated in “The Composition of the Modern Accounting Group,” a blog post by Brian Sommer of TechVentive posted on blog.intacct.com, you may see finance groups working with entry-level accounting software or disparate, specialty systems that are poorly integrated.  As businesses grow or make acquisitions, you could also see a patchwork of accounting software that makes it hard to close the books each month.  Bookkeeping is necessary, but your business requires strong financial management to grow.

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Choosing a modern enterprise resource planning (ERP) solution is just one step toward gaining valuable control and insight of business operations.  The second step is deciding whether to deploy in the cloud, on-premises, or using a hybrid solution that includes both options.  Here is what you need to know about your deployment options.

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