Month: August 2021

Importance of Keeping Business Records

Why is it important to keep records of your business transactions?

70% of businessmen from Bangladesh not keeping business records formally. Why is it important to keep records of your business transactions?

Many businessmen are not keeping business records formally. They are still following a manual, paper-based system to keep the daily business records. It is both time-consuming and comes with a higher degree of error. Moreover, there is a chance of the records getting lost or misplaced. These can cause inefficiency in the business and can lead to lower profits.

  • Many companies in Bangladesh started to keep business records electronically. The reasons are:
    Efficient way to keep records and requires less storage space and time.
  • Always provide accurate and complete information in real-time as it are stored in one centralized system
  • The records are properly backed up and there is no chance of losing them.
  • Minimizes recording and calculation errors and improves the accuracy of the data.
  • Reduces document management and archiving costs and improves profitability.
  • Provide limited user access control that allows specific users limited access.
  • Increase in productivity improvements for your staff and can concentrate on core activities of the business.

One of the best ways to keep data electronically and automate business management processes through ERP software. Enterprise Resource Planning (ERP) is a software with various modules and features that helps to make business management process easier. 

Amar Bebsha Limited offers custom ERP software according to business needs and requirements.

5 Reasons Behind Your Business Lose Revenue or Leakage in the Revenue Stream.

5 reasons Behind Your Business Loses Revenue or Leakage in the Revenue Stream.

Running a business is all about earning money and ensuring everything is running as smoothly as possible. Businesses cannot afford to ignore the unnoticed and unintended loss of revenue at any cost. It can occur for several reasons and often are hard to control. There are five common reasons for revenue leakage of businesses are:

1. Incorrect calculation when we do it manually
2. Inefficient inventory and account management
3. Unable to track the due date and payment status of invoices
4. Not having a centralized management system
5. Traceless operational costs and expenses

Implementing ERP systems can help flag or eliminate these revenue leakages and increase the profitability of the business.

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