Monthly Archives: October 2018

Business Service Management

Businesses in most of the industries today rely on their IT infrastructure for delivery of their products or services. Despite this, business owners and IT managers face difficulty in figuring out the performance of their IT infrastructure and analyzing how that performance affects their bottom line at any given point of time. If you are wondering the same about your IT infrastructure, the answer to your queries is Business Service Management (BSM). Let’s discuss some aspects of Business Service Management and how it can benefit your business.

What Business Service Management Is

BSM is a way to monitor IT services so that one can understand its impact on the business’ bottom line. Through it, IT managers can monitor application performance so that they can identify, foresee and solve application bottlenecks. In case of larger organizations, the business owners and IT managers need to know which department if going to be affected the most in case of an outage, so that its impact can be minimized. Through BSM, the interests of the business can be protected by monitoring, tracking and managing the investment and operational aspects of the IT department. BSM hence ensures that IT processes are aligned with business processes for the maximum benefit of the business.

How you can use Business Service Management for your business

If your business depends on IT department for providing services or products or your customers, Business Service Management can be extremely useful to you. Even if you have a large company with a huge IT department, a BSM solution can help you undertake effective ITSM. When you have a Business Service Management solution in place, in case of a system failure, you will be able to know exactly where the error has occurred on a real-time basis. You will hence be able to analyze the financial impact of the failure as well as instruct the IT manager of steps to take to ensure that application performance is up to the mark.

Some of the many benefits of a BSM solution for your business are:

  • It ensures application performance is up to the mark at all times
  • BSM also ensures the availability of business-critical applications
  • A BSM solution helps IT managers to ensure that service level agreement conditions are met
  • You can make IT service management easier with a customized BSM solution
  • You can understand the impact of a system failure on your bottom line through Business Service Management
  • A BSM solution will help you avoid downtime of applications by identifying bottlenecks and figuring out their cause
  • Through a BSM solution, you can reduce losses of downtime and improve productivity of your business

Best Bookkeeping Business Services

If you’re a small business owner considering outsourcing your bookkeeping, keep in mind that bookkeeping business services include much more than just keeping track of your finances. If you hook up with a true professional service they can become much more than an accounting service, they can become important partners helping you optimize not only your cash flow but planning your financial strategies. Here’s a short list of benefits and services you can expect from a full service bookkeeper.

1. Time

Actually this may be the most productive benefit of all the services an outsourced bookkeeper can provide. By taking over the responsibility of accounting, the bookkeeper service effectively gives you more time to do what you do best and that’s run the business. Accounting is an absolutely necessary part of a business but it is not a profit center and it plays no part in driving sales and revenue. Any time you devote to that function is time taken from engaging in an activity that can generate sales or profit.

2. Financial forecasting

Using your firm’s financial history an experienced bookkeeping service can develop financial models that will allow you to play “what if” games that can predict your financial performance in the future. For example a business owner can ask what if sales increase 8% in the next quarter or what if the marketing budget is increased by 10% what kind of sales can be expected. This is a complex model that requires the knowledge of experts and would not be readily available to the owner unless he outsourced the function.

3. Tax planning

Running your business to take advantage of opportunity to minimize tax liability can be the difference between taking a loss and making a profit. The same goes for licensing and other local fees. A knowledgeable service will not only prepare your returns but show you ways to reduce your tax bill.

4. Real time reporting

Gone are the days of receiving monthly reports from your accounting service. In today’s business environment you need to know where you are financially right now and that’s what a professional bookkeeping service can provide. Thanks to ASP technology you can log onto your account using an ultra secure server and access all of your reports at any time and from any where you have an internet connection.

5. Customized reports

Your bookkeeping service will work with you to build reports that make sense for your particular business. Profit and loss statements, sales reports, receivables reports, all can be designed so they present the information in a way that you can best evaluate your position.

6. Assistance with lenders

A sign of just how tough and competitive the economic times are is the expansion of bookkeeping business services into areas that they previously did not participate in. Assistance with loan applications or even introductions to lenders is an example of the “new” services being offered by many firms. Loan applications can be intimidating and confusing to many business owners and the accounting service can offer valuable assistance in insuring that the right, and best, financial information is included in the application.

7. QuickBooks Consulting

Even if you don’t hire a bookkeeping service and you use QuickBooks in house to do your bookkeeping, you may find that the service can help you do it better. QuickBooks has added so many features and has become so much more than an accounting platform that it has created an entirely new support industry. If a QuickBooks customer wants optimal performance from his system, it’s likely he or she will need the advice of a certified QuickBooks consultant and the bookkeeping service is a ready, qualified resource.

A combination of rapidly improving technology along with an increasingly competitive market has caused bookkeeping business services to evolve into something greater than the traditional accounting services. Smart businesses will take advantage of these services to remain competitive and optimize earnings.

Home Based Business Services

If you’re looking for more home based business services to help you quickly and efficiently build your business, then you are going to want to read this article from top to bottom. In it, I am going to show you how to stop throwing money away, and how certain types of home based business services are not “serving” you or your business…and are basically serving only to drain your bank account.

Most people when they look for home based business services, end up spending their money for business card services, vehicle magnets and related things. So the very first thing I want you to do, is to stop throwing your money away by constantly putting your money into things which, from a long-term perspective, aren’t going to benefit you or your business.

Although these types of techniques can build a business, the process is painstakingly slow and full of constant rejection. Think about the numbers associated with utilizing these techniques and this type of home based business services.

Even if you used these home based business services and they garnered you 10 calls and 1-2 closes a week (translating to you recruiting 7-8 people per month). Not only are you working your tail off to get them, but you have to worry about retention issues. After a few months, these prospects are likely to be dropping off faster than you can get new ones.

When you are encouraged to use these kind of home based business services – the ones that by nature have you marketing your company (instead of you) and leading with the business opportunity (instead of with the benefits) — that is the half of the equation that they never seem to tell you. While these things may work to recruit people, they are MUCH more likely to recruit people who are likely to drop out within a month or two. It makes it so much harder to get to your goal, because you are spending so much energy having to recruit enough people to make up for the number of people who are dropping out each month.

You need to understand how to take advantage of much larger marketing platforms than these home based business services can create for you, so that you can expose your business to a much, MUCH larger pool of prospects. This is best done using the Internet.

With that said, there are a couple of things that must be in place for that to be effective. First, you need some sort of lead capture page. The ONLY objective with that lead capture page should be to get the contact information (the email) of people who are already looking for what you’ve got.

Second, you need to drive traffic to this page, so that you can build relationships with these people (so that they ultimately WANT to buy the things you have and WANT to be in business with you). In doing this, there are really only a couple of home based business systems you need.

Pick up a GoDaddy or HostGator account. Either one of these options will be fine, and the only fees you will be looking at incurring are ~$12.00 a year for the hosting package and ~$15.00 a month to host an unlimited number of websites. The other service that is really essential to get the process moving is an autoresponder. Good ones to check out are GetResponse and AWeber. Both run about $20.00 a month.

In conclusion, stop spending money on various tools and home based business systems that are likely not to provide you any great or long-term results. Take those funds, and instead apply them to the part of your business that will give you a great return on your investment.