💰 Cash Reserves – how much is enough? This is a question we address with our clients quite frequently. While it’s wonderful to have cash reserves beyond day-to-day cash crisis needs, your cash needs may also grow as you reach the next level of success. 📈 So, if you’re fortunate enough to be building cash...
Cost-Saving Tips for Your Business: Reduce Overhead Expenses and Boost Efficiency Whether you’re a new business starting or an established business looking to cut costs, finding ways to save money is always beneficial. In this blog post, we at ZümiFi have compiled a list of cost-saving tips to help reduce overhead expenses and improve your...
Managing cash flow is crucial for the success of any business. However, it requires a systematic approach to ensure that the ins and outs of your finances are well-monitored and organized. At ZümiFi, we understand the art of cash flow management, and we’re here to help entrepreneurs implement effective tools and best practices to keep...
Discover the Power of Regular Bookkeeping: Avoiding Costly Mistakes and Maximizing Cash Flow! Having a diligent bookkeeper who maintains your accounts regularly can be a lifesaver, preventing you from making costly errors. Let us share a recent success story with you: One of our valued clients recently instructed their account manager to pay a vendor....
Small business owners face various challenges, including managing their accounts receivables (A/R) to avoid cash flow surprises. However, even the best clients may face hardships, so staying on top of A/R and promptly addressing a customer falling behind is crucial. At ZümiFi, we believe good communication is key when reaching customers. Therefore, we recommend sending...
Small businesses often focus on managing one of their most precious resources – cash! Therefore, you need to be sure you have enough cash on hand to meet your obligations and, hopefully, then some! The current ratio is a great metric to help guide you in this area. The current ratio is where you divide...