By Andrew Larson, CTO at FinQuery Artificial Intelligence (AI) is revolutionizing operational efficiency in virtually every sector. Manufacturing companies in particular are leveraging AI to improve the precision and speed of their financial operations. In the realm of accounting, AI is transforming traditional practices, introducing new levels of efficiency and accuracy that benefit the manufacturing sector immensely. Introduction to AI in Accounting within Manufacturing The U.S. is experiencing a notable shortfall in accounting and auditing professionals, with over 300,000 of these experts ..read more

1. Understanding commercial lease agreements Commercial leases of equipment 2. Commercial lease management Lease management software 3. Commercial lease types Gross lease / full-service lease Net lease Absolute net lease or “absolute NNN lease” Modified gross lease Percentage lease 4. Commercial lease types table 5. Accounting for commercial leases 6. Summary Renting space in a commercial building isn’t as simple as it seems. It’s more than signing an agreement and moving in. It requires attention to details within the lease, like negotiating property tax payments, utilities, mainten ..read more

1. What is software asset management? 2. Defining a “software asset” Costs of software assets Operational impact of software use 3. Software asset management goals 4. SAM metrics: Measuring success 5. SAM roles and responsibilities 6. Software asset management processes 1. Auditing software licenses and subscriptions 2. Software asset tracking 3. Software license provisioning and deprovisioning 4. Day-to-day software license and end-user management 5. Monitoring software usage 7. What is the software asset management lifecycle? 8. Managing risks in software asset management Shadow IT Sa ..read more

The cloud computing age has brought with it critical acronyms that often seem confusing to anyone outside the realm of IT. For finance professionals navigating the mid-market, comprehending Software as a Service (SaaS), Platform as a Service (PaaS), Infrastructure as a Service (IaaS) – and now XaaS, isn’t just about keeping pace; it’s necessary to direct operational efficiencies and strategic financial management. Amid the buzz of the tech world, distinguishing between SaaS, PaaS, and IaaS is critical—a misstep in comprehension could lead to misdirected investments, operational friction, or ..read more

The critical role of software license management The critical role of software license management cannot be overstated in today’s digital landscape. As technology continues to advance at a rapid pace, organizations are becoming increasingly reliant on various software tools and applications to streamline their operations and remain competitive in the market. Software licenses play a crucial role in this process as they govern the legal usage and distribution of software products. A software license is essentially a contract between the software provider (licensor) and the end-user (licensee) t ..read more

SaaS applications are easy to acquire and use, creating major headaches for anyone responsible for managing them. IT departments are already short-staffed, and keeping up with a growing number of software subscriptions requires a constant effort. If you aren’t aware of how many applications you have, then you can’t track costs, streamline your tech stack, or protect your company from threats. However, there are efficient ways to prevent these risks. Let’s take a closer look at the top SaaS management challenges IT teams face and what you can do to address them. 1. Uncovering hidden SaaS appli ..read more

Today’s CFOs face a rapidly changing landscape, with their roles evolving beyond traditional financial responsibilities. They are no longer just gatekeepers of financial accuracy or bean counters diligently tracking expenses, but rather key architects of business strategy. However, making effective data-driven decisions requires visibility into the company’s expenditures, the contracts they engage in, and the terms that bind long-term financial outcomes. In this dynamic environment, real-time, accurate intelligence has become pivotal in meeting the challenges they face. Finance teams often f ..read more

SaaS sprawl has quickly become a serious problem for most businesses. It eats away at the bottom line, creates confusion for software users, and increases cybersecurity risks. As companies adopt more software to solve complex problems, they need to take a proactive approach to preventing it. Here’s a breakdown of what SaaS sprawl is, how it happens, and what you can do to get it in check. What is SaaS sprawl? SaaS sprawl is the unchecked growth of SaaS applications within an organization. When SaaS sprawl occurs, the amount of applications an organization is dealing with often becomes unmanag ..read more

1. What are bonds payable? Interest in bonds Discount vs. premium Issuance costs 2. Bonds payable accounting Amortization of the discount or premium 3. Summary 4. Related articles When an organization requires additional funds, a common action is to borrow money from a bank. However, issuing debt securities, such as bonds, is another way organizations can borrow funds. Issuing securities is borrowing in that the organization receives cash which must be repaid to the lender at a later date. Issuing bonds rather than entering into a loan agreement can be attractive to organizations for ..read more

Several years ago, my business partners and I sold our business to a large, publicly traded company. The due diligence process was a bear. Fielding incoming requests seemingly every hour while simultaneously running our business as normal was taxing and stressful. Fortunately, we were prepared. We saw M&A activity in our industry increasing, and realized it was only a matter of time before potential acquirers started contacting us.  We collated and organized every contract for both vendors and clients, every recurring transaction, prepared for deep dives into the durability of our r ..read more