10 Critical Reports in Q360 to Help You Make Informed Business Decisions

Posted on April 27, 2020 in Business Process Improvement ,Improve Financial Management ,Q360 ,Solutions360 by

Author: Tofiq Indawala, PMP As businesses face this unprecedented time due to the COVID-19 pandemic, having access to critical business data has become even more vital. Businesses need critical data faster and more reliably then ever before to help make important business continuity decisions. In this article, we will review a few reports that will help you narrow in on the critical information to help you make the right business decisions. 1. Sales Forecast The sales forecast will help you narrow in on what and […]

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Change Management Best Practices for Integrators

Posted on April 20, 2020 in Blog ,Change Management ,Q360 by

Communication is the key to successful change management Managing change is one of the big issues Solutions360 addresses with integrators, because change is not easy. And this topic has become even more important during these unprecedented times. Today, our CEO, Brad Dempsey is joined by Brad Malone, from Navigate Management Consulting to discuss how both organizations help integrators implement change. What are some of the critical success factors for change? “Change really has to come from the top down, from ownership,” Dempsey reports. “I think […]

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Resource Management – Getting What You Need from Workers

Posted on April 14, 2020 in Around the Web ,Blog by

What is the best way for systems integrators to handle resource management? Resource management is such an important issue, it invariably leads to other questions: How do we manage the utilization of our resources effectively? How do we set objectives that our people can meet? How do we motivate and incentivize people to meet those objectives? How do we set up clear and definable metrics? There are three steps: 1. Alignment Establish and communicate to our people the organization’s vision and mission. This allows employees […]

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Don’t Be a Cash-Blind Owner Part 2 – Sources & Uses of Cash

Posted on April 6, 2020 in Around the Web ,Blog by

What makes a financially successful integration business? One with high profits? One with a solid financial plan? Many owners believe that, if profits are solid, then the company is solid. As we revealed in Part 1 of our blog series, Don’t Be a Cash-Blind Owner, however, they’re pretty upset when they find out that isn’t reality. These are “cash-blind owners” – owners who don’t know anything about their cash flow. How do you know whether you’re a cash-blind owner? Try answering these three simple questions: Do […]

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5 Revenue Recognition Challenges That Can Be Overcome with Automation

Posted on March 30, 2020 in Around the Web ,Industry Discussion by

While revenue accounting has always been complex, ASC 606 has introduced new revenue recognition challenges for integrators. Thanks to the recent changes in FASB’s ASC 606 standard, revenue recognition is increasingly top-of-mind for CFOs and Controllers. Over the years, as we have worked with hundreds of companies to assess, analyze, and streamline their revenue accounting processes, we have identified five common challenges that can be overcome through the implementation of a robust revenue accounting automation tool. 1. Grouping and Aggregating Data With an increasing number […]

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A Message from Solutions360 about COVID-19

Posted on March 23, 2020 in Blog ,Industry Discussion by

I hope this message finds you, your loved ones and your employees well. This past week has presented many challenges to our businesses and families as we all look to adapt our lifestyles to the realities we face today. The changing landscape of the current health and economic climates are forcing many into uncharted territory as it pertains to how we run our businesses. At Solutions360, the health and wellness of our employees, their families and our business partners is our number one priority. Fortunately, […]

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Don’t Be a Cash-Blind Owner Part 1: Days Sales Outstanding

Posted on March 16, 2020 in Blog by

During my decades-long career as a CFO, I’ve had the great pleasure of knowing and interacting with many superbly talented entrepreneurs. Unfortunately, some of these remarkable individuals are also what I call “cash-blind owners.” This “disorder” describes otherwise-savvy business owners who are totally oblivious to the monthly cash activity of their business. Because many owners in the construction trades evolve from being tradesmen, this disorder occurs with a greater frequency within our industry. Individuals suffering from this disorder typically hound their CFOs for monthly income […]

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