Profitability

Insurance Premium Audits -Tool For Managing Cash Flow

Insurance Premium Audit - A Tool For Managing Cash Flow

Audit... a term all business owners have seen before and often consider a bad thing. But, when used properly an audit can become an opportunity to help conserve cash flow at key times during the year. Whether your audit experience has been positive or negative, there are a few ways to properly organize your records and prepare documen

 

By Default or By Design: Managing Strategic Risk

It’s been said that every company has a strategic plan—it’s just a question of whether it’s by default or design. Those with nothing in place are at the mercy of what may come—quite simply, a company has chosen to be reactive versus proactive. As discussed in “The Downside of Positives: Managing Risks & Expectations” a few months back, risk 

 

The Indirect Costs of Workplace Accidents

Accidents in the workplace are an unfortunate reality of the human element of business. Humans make mistakes, and occasionally these mistakes cause a workers’ compensation claim. The costs of these claims vary depending on the severity of the accident, and the more accidents that occur, the higher the cost. There are two types of 

 

The Factoring Option: Access To Capital

Factoring is a transaction in which accounts receivables are converted into cash through a purchase and sale agreement with a financial company. This allows the business to receive needed cash resources quickly without waiting for accounts receivables to convert. Factoring can be a very useful tool to many companies that need access to

 

Turning Insurance Into a Profit Center

Today, your company probably purchases insurance from the traditional insurance market. This process works for many companies, but for the right type of company there is a much more efficient model called a captive. Rather than allowing an insurance company to make an underwriting profit from your company’s great year of

 

Unlocking the Future of Fuel: Changing Variable Costs into Fixed Costs

Risk transfer. When those words are heard it is usually in the form of covering a potential loss utilizing insurance. A business provides funds in the form of a premium in exchange for insurance to cover the potential financial consequences of a hazard risk. However, there are alternative ways to transfer risk. One of those ways is known as hedging.

 

Recognizing Your Best Truck Driver

How do you determine who your best truck drivers are? You know, the guys that are out there getting the job done for you every day. The ones that deserve the most home time and best routes. It often seems that the determination of who's the best comes down to who is consistently willing to show up and respond to dispatch. The...

 

Liquidity Risk: A Ratio Story

You and your team have been working hard. Sales are up, as is company morale. Yet, you're still finding it difficult to meet your obligations in a timely manner. What is going on? Where can you find answers? A good place to start is with the balance sheet and a few ratios.

 

Risk Decisions: Properly Delegating Authority

Who makes decisions on risk in your business? How are those decisions made? I was having lunch the other day with a colleague of mine who is the risk manager of a large organization with a complex risk profile. The very nature of the company's operations makes risk management a primary topic in almost every conversation the company...

 

How CSA Scores Impact Your Bottom-line

CSA scores are a metric in the transportation sector, which measures compliance, safety and accountability (CSA) within your company and compared to the industry. It is the key performance indicator measuring results and is displayed as public information. The scores are broken down into a few categories, measuring the...