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For many small businesses the words that provide a great deal of excitement and happiness are “YOU GOT THE ORDER”. This typically starts a wave of activity that has a defined starting point, booking a sales order and a defined end point, collecting a receivable. Both of these activities generate transactions and in between the starting point transaction and the end point transaction are multiple additional transactions that take place. Depending on your business these additional transactions could range from a few to a few hundred. Yield Business Solutions, Inc. provides Small Business Consulting services to assist our Business Development and Turnaround Management clients in managing their transactions to minimize costs and maximize asset yields. Properly managing transactions in a small business is a process that typically evolves over time. Establishing strong management techniques and internal controls when a business is established can save companies large sums of money over the life of the business. Over time transaction processing tends to be repetitive and bad or unprofitable habits can be established and carried on for years. Small business owners tend to focus on financial and order fulfillment or business transactions and have some type of systems and controls in place. How much consideration do owners give to other transactions that have an effect on their asset management? Because cash flow is so critical to any small business a tendency to focus on cash related transactions is natural. Especially in a turnaround management or financial distressed business the focus is on cash related transactions. For a business that is just starting up or one that is in a business development stage the financial resources are also extremely important. YBS provides our small business consulting services to both our business development and turnaround management clients for many of these cash related assets requiring strong internal control and management considerations. In addition, we consider transaction management on other types of activities that many small business owners process.
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