This Iconotech video looks at the cost savings if you switch from pre-printed case inventories to generic case inventories. If you’ve identified slow-moving inventory, the first step is to notify your team that there’s a concern with that inventory item. That way no one will accidentally order more or fail to take action on a sales plan. It would be great to link the average monthly usage, especially for companies with seasonality, or the corresponding sales value, so that we can calculate the metrics we discussed. Remember that your ERP or accounting software might have a more complicated process in ...

When you stay on top of your books, you’ll have real-time insight into your practice’s finances and the information you need to make more informed business decisions. Your practice’s financial statements provide insight into its financial health. Reviewing your balance sheet, income statement, and statement of cash flows each month can help you keep tabs on your current cash position, receivables, payables, liabilities, revenues, and expenses. As a healthcare provider, you probably want to focus on serving your patients and spend as little time as possible worrying about the financial health of your business. An efficient accounting system is essential ...