Have you ever wondered if there was more you could do to help strengthen your valued customer relationships? More and more companies of all sizes are gaining a personal edge and giving thanks to Customer Relationship Management (CRM) software.

What is logistics and transportation CRM?

CRM is a great approach to help manage your transportation business’s valued relationships with customers old and new. It makes use of data analysis based on your clients’ history to improve business relationships, and customer retention. In such a competitive business market, transportation companies who make use of CRM software and other SaaS applications will find they have an edge. By making the best use of your own customer data, you will be able to discover valuable insights about your clients, such as how they respond to marketing directed at them and then using that information to assess how to move forward with successful business decisions.

Did you know that 74% of businesses surveyed said that CRM software allows greater access to customer data? If you pair that alongside another study that affirms that those companies that substantially outperform long-term are 5x more likely to use customer data that their lower-performing competitors? CRM for businesses of all sizes can establish areas to drive business growth. It really is essential for any business that wants to thrive.

By implementing CRM into your transportation business, you can boost customer retention, improve your profit margins, and increase sales. You know that customer relationships are the key to the growth of your business, so make sure that you are managing them as effectively as possible. Be proactive and utilize CRM technology to connect to clients and improve your business performance, no matter the size of your company.

How transportation CRM software can help your business:

Improve customer retention rate

The data gathered by CRM software applications can help you get to know your customers on a deeper level, and then put a value on them.

• Better relationship visibility helps your team address accounts that are at risk and offer better opportunities to customers in a timely manner
• Transparent customer histories enable you to make better and more tailored purchases and service experiences to retain your current customers
• Know your customers by using the data to understand just who is accessing your services, and how often. You can also check buying trends and individual preferences so that you can customize messages to reach them at the right time as well as working to win back those who have stopped purchasing
• Put a value on your clients with CRM data analysis of your clients and their buying habits so that you can identify which of them are most profitable and what each customer is worth to your business
• Identify new customers. It’s not just current customers you should focus on, but their information can help you sell to prospective clients as well. By matching up the profile of your identified best clients, you can reach out and sell to new customers
• Comparing data sets between those customers who have stuck with you and those who have stopped using your services, you can gain valuable information to know what is working and what isn’t

Automated data entry

Incorporating a sturdy CRM helps your team to automate their data entry. It also allows those from different departments–marketing, sales, and customer service–to access the same information and to share that data.

• Data can be leveraged in future marketing campaigns
• Improved and smarter reporting with revenue forecasts to give you all the information you need to grow your business
• Advanced CRM software eliminates duplicate records from being entered into a database
• Create and schedule personalized reports
• Track open opportunities, performance of campaigns, and much more by allowing a CRM system to cover your reporting tasks
• Accurately forecast revenue and maintain a solid understanding of the health of your business

Better team collaboration

Just as we said that your team will be able to better connect and share data, they will also find improved collaboration by moving from old-fashioned manual spreadsheets to modern, CRM software.

• Effectively managing those important customer relationships means that multiple employees with different skills are needed. Whether it’s customer support, marketing, or sales, a cloud-based system means that all team members can collaborate across specialties and work together
• Team members don’t need to be in the same physical location: cloud-based solutions can be accessed anywhere, at any time
• When your team is working as a single unit, they present a united front to provide stellar customer service, and in turn enhance the overall profitability of your company

Information management

CRM is an essential tool for transportation businesses of any size, or for any business for that matter.

• Consolidate customer data and documents, enabling team members to access, share, and manage information. This approach can strengthen existing customer relationships.
• Using this customer data can assist in developing a strong picture of top sales leads and enable you to plan effectively for the future.
• It gives your transportation business the chance to automatically track all contact and follow-ups with clients, reducing the chances that a loyal customer will fall through the cracks.
• Increases the chance of being able to automate several workflow tasks, saving you and your staff time to focus on other tasks.

By investing in a well-designed CRM software, your team will be able to access information from anywhere they are, from the comfort of their own device. They will be able to manage appointments and track their deals in real-time. With a CRM software that works for your business, you can carry all your business in the palm of your hand.

Time Tracker will automate your time for payroll, billing, and productivity

If you’d like to learn more about our Time Tracking Software for Transportation Companies, click here to explore our services. Try a free 14-day trial today and give yourself extra time to focus on other tasks as the software safely tracks and stores your team’s time and location during the day. No credit card required. Cancel any time.

The post How to Use CRM Software for Transportation and Logistics appeared first on eBillity.

Without tax compliance knowledge, some pivotal business decisions, including the structure of a new business and its filing schedule, for example, will not be fully informed.  And tax compliance guidance is different for a small business, a sole proprietorship, a professional or other partnership, or a corporation.

At the foundation of all compliance is adequate record-keeping of information like:

• Employee or partner hours
• Expenses and their documentation
• Income sources including billing records, and tax payments
• Filing these records and payments by various categories 

A well prepared business is one that keeps compliance front of mind by utilizing applications to accurately (and regularly) record information so when tax time arrives you don’t find yourself buried in a sea of paperwork.

Some important issues for tax compliance

Let’s look at some of the aspects of tax compliance important to every business. The last tax reform enacted by Congress modified some aspects of the tax code, including compliance and, partly in response, some states changed their own tax regulations. In fact, the Tax Foundation reported that 23 states and the District of Columbia had significant tax changes that took effect July 1, 2019. The Tax Foundation provides a list of the most significant in each state. For example, Massachusetts and the District of Columbia added new payroll taxes to support family leave programs.

Compliance costs are significant—and can be reduced. For any business, the cost of complying with tax laws and regulations is going to be significant. U.S. businesses file more than 10 million tax returns each year at an estimated cost of $4.4 billion in compliance costs. We are talking about 240 million hours spent filing returns. That is separate from the payment of taxes–but costs are costs. This means the issue deserves attention not only to reduce taxes and avoid fines, but also to cut costs. 

How you start can make all the difference. The largest businesses will organize as corporations, and have to accept what is called “double taxation” on income earned by C corporations: the corporate income tax (federal and sometimes state and local) and also taxes on salaries and wages paid out of those corporate earnings. The tax treatment of “small business” traditionally has been more favorable. A sole proprietorship, partnership, or limited liability corporation pays tax only on the earnings of the owner or owners. And by the way, today what is considered a “small business” may have up to 500 employees and $7 million in revenue depending upon the industry (and many “exceptions” are even larger).

Underpaying taxes, even without intending to do so,  you can jack up compliance costs and potential fines and other penalties. Businesses that handle a lot of cash seem most at risk for underpaying income and overstating expenses. But, in fact, the issue is front and center for all businesses, including professional partnerships. The answer is tracking and record-keeping systems that provide you with ongoing summaries of all the information you need on both income and expenses.  

Partnerships have special challenges in tax filing. For  a partnership to file a federal tax return, for example, you will need your year-end profit and loss statement, plus details and totals about all sources of income and types of expenses paid by the partnership throughout the year. One of the top “triggers” for an IRS audit is the failure to track business expenses related to travel, gifts, entertainment and meals to distinguish between those that qualify as a deduction and those that do not. This is a matter of accurate tracking of expense reporting and billing. In addition to your income statement, you will need your balance sheet on property purchased and depreciation expenses. And you will have to list shares of each partner and how profits and losses are divided up by the partners. Partnerships from architectural firms to legal practices to medical practices can ensure that record-keeping by partners is current, consistent, and complete by installing a state-of-the-art time-tracking and billing system.

Be aware of changes and expirations. You should be sure that you keep up to date, with the help of your tax professionals, with changes in tax law. For example, recent federal tax reform, important to mid-sized businesses, changed “Section 179” to increase limits on write-offs on new property. As for expirations, by the end of 2019 the work opportunity credit and employer credit for paid family and medical leaves expire. Other changes affect renewable energy investment payments related to controlled foreign corporations. In fact, every year through at least 2024, there are other expiring provisions.

Your decision on cash vs. accrual. The timing of your tax obligations will be different, as a corporation, depending upon whether you elected the cash or accrual accounting method. The IRS gives corporations leeway in choosing which system to use, but once you have chosen a system you are required to stick with it. On a cash basis, you record income as you receive payment and expenses when you pay them. With accrual, you report both as they are incurred, not when actual money comes or goes. A good information tracking system can handle either approach, of course, but the timing must be understood.

Accurate and timely withholding and payment of employment taxes avoids trouble. Assuming you are a business with regular employees, employment tax requirements apply. Make sure you are withholding the right amount of taxes (e.g., federal, Social Security, Medicare) from each employee’s pay. And keep systematic track of your payments on behalf of those employees. This is treated very seriously by the IRS, so carelessness can get you audited and possibly fined or otherwise penalized.

If your business deals with hired contractors it imposes requirements on tax compliance. You don’t have to withhold, since they are not employees, but you need a system that keeps accurate, timely records of expenditures for contractors, including, of course, compensation, and then once a year fill out and send Form 1099 to the contractor and the IRS. The IRS stays alert to possible misuse of the contractor vs. employee distinction so make sure you are following the rules. 

Another benefit of effective automated records is timely filing. Being late in providing something required by the IRS is an automatic compliance problem. There must be clear lines of responsibility in your business for knowing the many tax deadlines. If you operate on a fiscal year instead of a calendar year, deadlines for the types of forms and payment will be on different dates. At a minimum for purposes of federal compliance, your relevant dates are January 31, March 15, April 17, and quarterly payments of estimated taxes usually the middle of April, June September, and January.

Save time, money and hassle with automation

Automate your time and expense tracking with Time Tracker and integrate it with your accounting software for easy tax filing. Start a 14-day trial today and start saving time and money. 

The post How Tax Compliant is Your Business When it Comes to Tax Time? appeared first on eBillity.

1) Managing multiple work sites

If your construction company is similar to most, you may find yourself managing several key projects at once – especially during peak season. Some managers end up splitting up their teams or hiring extra workers to handle the increased scope of work. Providing training, support, and direction to employees across several different sites can prove to be difficult.

2) Not knowing the whereabouts of employees

“Some workers may stay for several months on a given construction site, whereas others only stay for a few days or weeks, being reassigned to new construction sites where their specific skills are needed next.” – American Journal of Industrial Medicine

Knowing exactly where every worker is at all times becomes an increasingly difficult task as construction companies expand. With employees regularly migrating from one site to another to deliver specialty expertise or ensure that deadlines are met, it can sometimes take multiple calls to track down a key employee.

3) Accurately tracking employee time

Not knowing the location of employees is closely linked to another top challenge in the field of construction: tracking employee time. Many construction companies still depend on paper time cards, manual data entry, and spreadsheets to keep track of time. In addition to being inconvenient and inefficient, these methods are often inaccurate.

4) A shortage of experienced workers

“When it comes to skilled workers in the industry — people who lay brick, frame structures or work with metal — younger generations are nowhere near filling in the need of those who are retiring or leaving the industry. For every four workers to leave the industry, only one person is replacing them, according to the Alabama Construction Recruitment Institute.” – Jarred Schenke, Bisnow Atlanta

Older, experienced employees are retiring and leaving the construction industry in droves. In addition to causing an overall labor shortage in the field of construction, this exodus leaves behind a void of experience that today’s younger workers are unable to fill. 

5) Safety violations

Despite tightening regulations in the construction industry, safety violations remain a constant threat to the well-being of construction workers and anyone who ventures near a job site. Some of the most common safety violations in construction include the following:

• Fall protection violations
• Insufficient training
• Working without the proper protective gear
• Improper use or selection of ladders

What are some effective ways to overcome these challenges?

Fortunately, there are some simple, cost-effective ways to prevent the challenges above from hindering your construction company’s success. With a little bit of planning and investment in some user-friendly tools, you can keep a watchful eye on your employees while maximizing efficiency across multiple job sites. 

Four ways to overcome the construction challenges above are as follows:

1) Inspect each job site at least once per day

The path to smooth construction operations begins with a safe, efficient job site. Daily inspections are listed as a requirement in many construction contracts, and are the cornerstone of a successful project outcome. Daily inspections should be undertaken by an owner, manager, or trained supervisor and should feature the following elements:

• Safety checks: Ensure that all workers are following safety protocol and wearing the proper personal protective gear
• Progress updates: Review progress to date to confirm that the project is on track to meet scheduled deadlines
• Employee monitoring: Make a note of star performers as well as any employees who exhibit inefficient or unprofessional behavior 

2) Consider GPS tracking for employees

A robust employee GPS tracking system is one of the most effective means of confirming an employee’s physical location. Time Tracker offers a GPS tracking platform that is perfect for busy construction professionals who need an accurate means of seeing the real-time status of their employees. 

• Improve efficiencies: view detailed summaries of your employees days to determine where you may be able to improve efficiency.
• Improve accountability: as employees are aware you are tracking their whereabouts, they become more accountable for time spent on breaks, taking the fastest route to another location, and ensuring they get to work on time. 
• Respond to emergency calls: quickly see where the closest employee is so you can send them to the emergency call the fastest. 

3) Introduce time tracking software

Time tracking software addresses nearly all of the challenges above. It is an especially effective means of confirming the location of construction employees and boosting employee accountability. Here are just a few of the many benefits of Time Tracker:

• Free time clock App: Employees use a 4-digit pin to clock-in on a tablet device and confirm job site arrival,  facial.recognition confirms the employees identity.
• Managing projects: if you’re managing multiple sites your employees and contractors can easily switch between projects, clients and activities.
• Managing employee time: time is money know which employees are getting to the job site late or leaving early, or even taking long lunch breaks.
• Job cost reporting: tracking time on a job site will help you to determine if the job is going over budget. It will also allow you to figure out what a future job of similar scope actually cost so you can accurately bid on the next project. 

4) Consider retention bonuses

Retention bonuses have gained traction across industries as an effective means of keeping key employees on the job. They are typically well-received by experienced, top performing employees while also helping to reduce turnover by motivating seasoned employees to remain with your company. If your budget is tight, you may also wish to consider incentives such as gift cards, extra paid time off, or special recognition.  

The Bottom Line

Overcoming the challenges facing the construction industry can seem like a daunting task. But by following the tips above, you can organize your employee management processes, boost efficiency, and know where your employees are at all times. To learn more about boosting efficiency in the construction industry, we invite you to contact us at eBillity. We look forward to helping you improve operations!

The post The Top 5 Challenges Construction Companies Face and How to Overcome Them appeared first on eBillity.

When shipping is part of the cost of your services, you may already know that 30% of all online purchases are eventually returned, therefore you may want to consider some additional or alternative steps to win back customers. 

Small and mid-sized logistics businesses commonly struggle with growth. Poor lead generation, low sales conversion rates, and lack of sales predictability are some of the leading factors. It is likely that your company is spending 5-15% of your gross revenue on marketing, however driving website traffic and building landing pages won’t be enough, particularly with your industry’s specific needs. If you are getting a lot of customers from your website traffic, great! Generating leads will only bring more success and profit.

Did you know the average conversion rate for a Facebook Ad is 9.1%. Website conversion rates, however, lag at an average of just 2.35%. If you know you can do better, it’s time to think about your own conversion rates. Calculate your current rate and set goals so that you can think about the techniques your company can follow to achieve those goals. 

Here are some strategies that you can start putting into practice today to increase your sales predictability, produce leads consistently, and convert the leads into returning customers. 

Use Google Analytics

Your website is going to be the main method in which new customers find your services. Set up Google Analytics to get an excellent insight into your website visitors.

• Find out how new visitors discovered your website. Was it from keyword searches? Were they redirected by referral websites?
• Know where your visitors are from and how much time they are spending on your website.
• Understand if the visitors are new or returning customers.
• Are they browsing from their desktop or from a mobile device? 
• How many of your visitors converted, and what was the process or interaction that lead them to that conversion?

Make shipping prices and conditions transparent

Trust is a vital part of your relationship with clients, and is what will bring them back as repeat customers (as well as making referrals to their friends and families). And any frustration of uncertainty will complicate and compound any issues they are having. 

• Be clear and upfront about your prices and shipping costs and conditions from the beginning of any transaction
• Specify each different delivery option you offer
• Let your customer know the terms for expected delivery dates and times, as well as any potential holidays that could delay delivery times and therefore any associated costs and return times 
• Your clients are entitled to any and all information you can possibly provide so that they can have realistic expectations and avoid potential disputes 
• Clear language on all conditions and written information is key 
• Being upfront and honest will keep loyalty flowing both ways in your valued customer relationships

Choose superior shipping partners and logistic tools

It may well be that the individual customer has no idea that there is a distinction between who delivers their order and the company from whom they actually purchased the goods they have ordered. Because of this, your shipping partner needs to be top-notch; after all, they are representing you.

• Choose carefully! If your chosen shipping partner lacks the level of customer service you are hoping to convey, switch to one that shares your commitment 
• Price will obviously factor heavily into your decision, but it shouldn’t be the only thing driving your final choice
• Research your potential partner’s successful delivery and delay rates, customer support information, and complimentary insurance details 
• Look for and use comparison websites. These are great because they often additionally provide offers from competitors and the choice to vary your shipment needs to find the best provider for you
• Check a company’s reliability on your own; research reviews and ratings on top of listening to the company directly

Offer the right shipping options

Once you have chosen the best shipping partner, the next step is to make sure your shipping options are the best. With 45% of online shoppers abandoning their virtual shopping cart due to shipping options they didn’t agree with, and 38% of said customers refusing to shop at a company again after a negative delivery event, this step is imperative to success.

• Offer shipping methods that are not terribly expensive and attract customers. This can be translated as having a good variety of cheapest and fastest delivery options to choose from
• Incentives such as free or affordable shipping are expected in today’s market, so make sure you are living up to the average customer’s expectations by providing this yourself
• Factor in extra expenses, such as international and expedited shipping, and keep these costs as low (and transparent) as you can 
• Consider integrations with software that can sync to each location you are selling from online to best route each order to the closest shipping center for faster delivery and better service overall

Have excellent return policies

Giving your customers more time to return products will only build more trust and loyalty. It will also reassure them that if something is wrong with the product they have ordered, they will be able to get a refund.

• Make all return policies clear and easy to understand. This will prevent any potential disputes and help your customers to calculate the exact process and cost should they choose to return an item 
• Include this policy alongside the product and in all correspondence: its high visibility is absolutely necessary 
• Allow extra time for returns. Build trust and ensure your customers are comfortable sending items back to continue to foster that loyalty

Increasing your conversion rates means understanding what works and what doesn’t with your customers. And don’t worry if new visitors aren’t converting the first time. They may come back when they have more need (or more money). The important thing is that you have taken the time to incorporate these tips into your business plan on top of the web content that makes your company look so appealing. 

Save time and money by automating your time tracking today and give yourself extra time to focus on increasing those customer conversions. We are offering a free 14-day trial for all your payroll, billing, and productivity needs. No credit card required. 

The post Top Tips to Increase Customer Conversions in Your Online Business  appeared first on eBillity.

In the transportation industry, sustainability is more important than ever. Although transportation is massively driving economic growth, its negative footprint offsets the benefits.

It’s easy to know how to implement green solutions in your home, but what does this look like in the office?

This can present its own set of challenges, especially when you take into consideration the different sets of values between you and your coworkers. What if going green isn’t as important to them? There are steps you can take to get everyone on board by encouraging them to take part in initiatives, and to improve the sustainability of your workplace at the same time. 

Even something easy (and visually pleasing) like adding a few plants to the reception or waiting area lends benefits to the space; greenery helps to clean the air and improve the mood of people around them. 

Office resources that are wasted are not only harmful to the environment, but they are costly, too: up to 4% of the annual turnover of a business is spent on waste created by employees. Cut the waste and the expenditure by getting your colleagues on board with sustainability. Start promoting a waste-conscious culture and watch as everyone you work with starts to automatically incorporate environmentally-friendly measures, because it feels second nature. 

So if sustainability translates simply to reducing negative impacts to the environment, it shouldn’t be that hard to get started, right? 

Here are some green initiatives to help create a more sustainable workplace:

Become more energy efficient. 

Promote better energy performance is an excellent place to start, with many steps to make this process simple. 

• Set your computers and monitors so that they will go into sleep mode after 15 minutes of non-use. Reducing power in this way cuts down on electricity use and saves the company money on service. Make sure employees also completely shut down their computers at the end of their shift for maximum benefit.
• Car-sharing technologies and self driving vehicles are areas to keep an eye on for future use and a reduction in carbon footprint within the industry.
• Turn off lights when not required. Much like computers and monitors, lights can easily and quickly drain resources. Consider installing motion-detector switches, as well as putting up sticky notes to remind employees to shut off switches as they leave a room that will no longer be in use.
• Keep the office temperature seasonally-appropriate. Don’t turn the air-conditioning to full-blast in the summer; open some windows and install some fans. Encourage staff to layer clothing throughout the year, to avoid using more energy.
• Unplug. Phantom, or standby power, is also consuming electricity when devices are simply plugged in, even when not being used. Cut this unnecessary cost by unplugging your workstation when you leave for the day.
• Use alternative fuels, and ensure your team doesn’t idle. Use biodiesel and renewable diesel, and add some electric vehicles into your delivery fleet, as well as higher productivity vehicles. 

Go paperless. 

Did you know that 90% of all office waste in the UK is from revisions and corrections on printed documents? Digitizing your paper use is a huge step towards sustainability. 

• Keep things digital wherever possible. This can translate to receipts, invoices, timesheets, reports, and payments. 
• Review documents online–from your desktop computer or mobile device–for both ease of use and to save paper and time. This saves costly printing and endless paper waste. 
• Save on costly paper filing storage by saving sensitive documents online. Security is a top priority of these helpful technologies, so don’t worry that this is a less safe option for this data. 
• Reduce your carbon footprint by automating your accounts receivables, setting up online payments, and by asking your own vendors to supply e-statements and invoices.
• When you do need to print something, use recycled paper and print double-sided documents. 

Recycle and refill.

It isn’t just paper we can cut down on. Did you know that there are refillable and recyclable pens? 

• Avoid the endless plastic waste of pen parts, and reuse the main components by using ink refills. 
• Order pens in smaller quantities and ask employees to request a refill once theirs has run out. 
• Recycled pens are another great option. When the time comes that you do need to purchase new pens, reinforce your commitment to sustainability by buying pens that have been made with recycled materials themselves, like plastic water bottles.

Green that office kitchen.

There can be a lot of waste generated in the kitchen at work, perhaps more than any other area. Tackle this issue head-on with some of these tips. 

• Recycle everything. Put together a comprehensive recycling scheme, with bins dedicated to different types of recycling materials and clear signs to direct employers to the correct bin. 
• Create compost. There are so many options for composting systems that are small, effective, and odor-free that it is easy to set up a dedicated place in your office kitchen. You could even donate your scraps to a nearby community garden! 
• Use reusable dishware and utensils. Compostable options abound nowadays, and so do the traditional utensils and dishware we have and use in our own homes. By establishing rules about washing up, this step takes an awful lot of trash out of the environment. 
• Don’t forget to use green cleaning products. There are lots on the market at the moment, making this choice easy.

Focus on your employees.

Direct some attention to your staff when it comes to thinking about sustainable options. Employee wellbeing and a reminder of their values will go far to ensure that everyone is on the same page when it comes to helping the environment. 

• Recognize increased stress from staff that may carry heavy loads and encourage balance in work-home life. Allow for some flex-time, where employees can work from home some days, reducing carbon footprints when there is no need to travel to work. 
• Feeding your staff contributes to overall well-being, and by catering with sustainable, local, and organic foods, you are directly impacting the environment as well as promoting healthy workplace habits and culture.
• Build connections within your community. Making volunteer days for local charities can lead to initiatives like cleaning up a local beach, for example.
• By focusing on a close team, it becomes easier to remind people of their own inherent values. Most people do agree with the importance of conservation and sustainability, but they don’t follow up with meaningful action. The workplace can become a place where they can start to match their actions with their words by starting to include mindful habits at work and at home.

Building a sustainable workplace starts with you, and leads to better work cultures, home-life balance, and helps the environment around us all.

You can start today by letting go of your paper waste. Save big on those office supplies and do your part to contribute to making your workplace more sustainable. Go paperless with your time tracking and give Time Tracker a try today, with a free 14-day trial. No credit card required. Cancel any time. 

The post Ways to Create a More Sustainable Workplace in Your Transportation Business appeared first on eBillity.

Operational inefficiencies are driven by market trends, the newest technological trends are revolutionizing this sector. This is unprecedented: there has not been a time in recent history where transport and logistics has been transformed socially, economically, environmentally, and technologically. 

These changes are exciting, but make it difficult to assess short- and long-term goals and investments. There is one area in which there is a clear and beneficial outcome, however. Based on in-depth reports that carefully analyze change within the industry, digitization and software-driven process changes are revitalizing the sector in remarkable ways. 54% of companies surveyed in the PwC Global Digital IQ Survey 2017 said that they expected digitalization to increase their revenues. And this isn’t the only benefit to automation: businesses can also utilize technology to simplify processes, remodel customer engagement and interaction, and redesign services and products. 

The biggest challenges in the transport and logistics industry today are:

• Supply chain management
• Asset utilization
• Establishing digital business models 
• Freight optimization and planning 
• Improving operational efficiency
• Adoption of technology 

We can see digitalization working within the industry already, aiding with administrative tasks, operations, and contracting. It is visible not simply as information and communications, but has broadened to include integrations and the ability to devise entirely new and innovative business models and processes and service provision. 

Current trends in transportation and logistics include:

• Digital business models 
• Big data analytics
• Location detection technologies
• Fraud detection technologies
• Digitization of vertical and horizontal value chain
• Digitization of products and services

As these technological tools advance and grow with the industry, we are expected to see changes such as: 

• Robotic Process Automation 
• Predictive solutions for deliveries and maintenance 
• Intelligent Transportation Systems
• AI Solutions
• Blockchain and Distributed Ledger Technologies 

By embracing these technological advances, companies will reap benefits such as cost and quality, clearer insights into cargo flow and passenger information, and will enable their customers to have better convenience and updated information on transport services. These changes are leading a paradigm shift in the transportation and logistics industry, where the projected proportion of companies in the sector with an advanced level of digitization is expected to grow from 28% to 71% in the next five years. 

Scheduling problems aren’t unique to transportation and logistics, appearing in several industries. But they remain one of the key issues to solve within transportation and logistics. Disruptions can be a huge factor in lost income; for example, delayed flights cost not only revenue, but also vouchers for customers and overtime for employees. Transportation companies need to determine which of the vehicles in its fleet to use during delivery as well as the sequence of deliveries.

Accessing secure, reliable methods of scheduling means effectively minimizing inventory costs (making sure to schedule orders to have the smallest inventory), flow times (the time it takes to make an order), makespan (the time it takes to complete a group of orders), and late deliveries. It also means maximizing the use of your resources.

Expenses within the transportation and logistics industry need to be continually reevaluated and analyzed to ensure best use of resources. 

• 8-10% of total costs for a firm are typically made up of logistical expenses 
• Adding technological tools to your arsenal is a great way to save time and money
• Automated systems are cost-effective and improve operational efficiency, as well as improving customer satisfaction and scalability, and reducing manual errors 
• SaaS providers that provide logistics automation allow for affordable and seamless assistance for your business 

The prevailing issues present within transportation and logistics are so pressing that they have been studied thoroughly by academics. Papers rigorously illuminate the need for solutions to scheduling problems, breaking down manufacturer and distributor into stages, how they can work together to find solutions, and where they are not compatible and need their own answers. There is a call to improve resource utilization and to reduce operational costs, where it seems some of the answers to these issues lay in algorithms and improved models for scheduling and transportation planning. It is clear that a strong optimization of a scheduling model that encompasses both production and transport is paramount to the efficient coordination of resources. 

Route planning, fleet management, and vehicle routing are the main problems in transport planning. Some solutions go above and beyond those suggested by academic research, for real-world applications that can work for your business immediately. By understanding the problems from the perspective of someone who is actually in the industry, and then modeling the issue against its proposed solution, this is a much better and more useful way to reduce these complications. 

Do you have an issue with the capacity of your delivery vehicles or understanding how to synchronize deliveries for best time and cost savings? Are there planning problems you aren’t sure how to solve, such as staff or machine scheduling, terminal optimization, or time tabling? Apply a software that has been created to assist with these problems, and see for yourself how quickly and effectively they help to solve these issues. 

Route-planning, particularly in the case of coordinating intermodal routing, may require fixed selections of modes of transport. This can be aided with the use of GPS to enable best route times and the avoidance of hazards. Algorithms can contribute to reduced cost, more efficient deliveries, and improved travel times.

The great news is the innovation in the new wave of startups which are helping to shape a modern supply chain marketplace that wholly embraces game-changing technology. Some of the trends identified as gaining traction in transport and logistics for 2019 include: 

• Digitalization
• Data analytics 
• Automation 

This is especially exciting, as the transportation and logistics industry has traditionally been considered less ‘digitally mature’ than other sectors, but now there are digital solutions specific to its needs. Payments, for example, have been revitalized with the introduction of modern, online payment systems. Faster and more accurate transactions is making room for the improvement of customer satisfaction and lowering costs for the business. As this sector grows and becomes more digitally mature, improved efficiency and the lowering of risk are just some of the benefits of automation.

In addition to the increased recognition of solutions for transport and logistics, there is a demand by consumers for faster and more flexible deliveries, track & trace capabilities, and greater customization. The supply chain is impacted everywhere by these heightened expectations. Pair that with how logistics management systems are making for faster and smarter global supply chains, and it is easy to see that the future is in digital solutions. 

Moving from old-fashioned manual systems that are paper-based and carry an increased risk of human error, the benefits of digital logistics are many: 

• Increased sources of revenue
• Greater innovation
• Increased control and collaboration
• Analytics to help assess decision-making
• Enhanced responsiveness 
• Faster and more dynamic planning 
• Improved access to real-time data 
• Greatly improved customer service and satisfaction

This Transportation & Logistics vertical shows how the rise of AI, machine learning, and improved self-driving technology is starting to revolutionize the transportation and logistics industry. The World Economic Forum foresees huge shifts in value and profits, with the potential of $1.5 trillion in additional economic value in logistics through 2025.

Don’t run the risk of being left behind. By getting on board with this technological transformation, you can ensure that your company is reaping these same benefits and staying ahead of the curve. 

90% of logistics companies already understand that data and analytics will be the key to the success of their business in the next five years. They know that data-driven decision making is the best way to optimize operations. 

Implement technological solutions today to reduce logistics costs, shorten delivery times, and optimize operations efficiency. Apply these tools in order to enable your team to access data in real-time on a tailored, digital platform.

To work with peak efficiency and to best manage your costs, optimal staff scheduling is crucial. This will mean gains in the quality, safety, and productivity of your processes, as well as making customer service and satisfaction a primary goal.

Time Tracker will work with your business to save time and money, optimize route times with geolocation, and automatically generate in-depth reports so that you can plan for the future. Try a free 14-day trial today and see for yourself. No credit card required. Cancel any time. 

The post Solving Operational Inefficiencies in Transport and Logistics appeared first on eBillity.

The key to standing out in the crowd, then, is to understand how you can best market your firm to attract new clients. No matter the size of your business, successful marketing must be present in order to maintain a solid customer base and to sustain business growth.

Brand awareness is just as important for the financial industry as it is for fashion. Potential clients are seeking a personalized experience, so make sure you are delivering this as part of your marketing plan.

Just because accounting is in high demand doesn’t mean you can let the marketing side of things slide.

Globalization helps accounting firms to be more accessible, but if you want to be visible as a potential service, you need to stand out from all of the other firms that are also easily available to prospective clients. It’s never been easier to find financial services online, so make sure that you are focusing your energy on how to personalize and market your own firm. In order to be as effective as possible, you need to understand and keep on top of the trends.

Authenticity is an important factor to consider, and marketing strategies need to include sincerity and transparency for customers who have come to expect these things from service providers. Loyalty grows from honesty, so take the reins and align your goals with your content.

If accountants and bookkeepers stay on top of the latest trends, and incorporate what they’ve learned into their own marketing, their firms will be well-positioned to take action and stand out.

Here are some 2019 marketing trends for accounting firms:

Personalization

General content is a thing of the past. Customers are looking for service providers who hear and address their needs. Don’t expect an upsurge in new business if your content is solely based on the features of your products, without taking into account how they will help consumers.

• Targeted messages that provide solutions to potential problems are a great start
• Tailor calls to action, headers, and subject lines so that they are in conversation with your readers
• Engage your audience in discussions and use the feedback to drive more personalized content
• Choose visuals that represent your unique client base
• Remember the power of social media: when used effectively to promote your brand, this tool is going to be a dominant force

Growth of Content Marketing  

Content marketing is constantly evolving, so making sure that your firm is continually sharing relevant content that is smart and well-written will keep readers coming back for more. The reason this is so important is that these returning visitors can become new leads, which can then become clients.

• Ensure content is well-sourced and on-trend
• Professional content needs to carefully observe grammar and spelling, so hire experienced writers with an eye for detail
• Research common problems your customers may experience and write solution-oriented content that addresses these concerns
• Consider hosting live events or questionnaires and surveys for better engagement with your clients
• Maximize your reach by sharing on a number of different platforms such as LinkedIn, as well as keeping a regular blog on your company website
• Marketing means exposure, so consider partnering with other services in the industry to extend your reach via shared links back to your site and vise versa
• Focus on gearing your content towards influencers who can help to promote your services

Expanding Artificial Intelligence

Much like the continued upward trend of content marketing, AI is not going anywhere.  Embrace it: targeting potential leads becomes easy, in addition to data analysis and giving your firm the time and extra money to spend elsewhere by taking over difficult tasks.

• Automating many common tasks such as invoicing, data inputting, and payment reminders means fewer errors and a higher quality of work that takes less time to complete
• AI can help you to assess your customers’ online habits to offer better services
• The automation of reports generated from your data means easily accessible information that points to potential inefficiencies early, and is a great indicator of how to build evolving business goals based on your unique information
• Give your clients more time by allowing AI to take on some of your more fussy tasks, with the knowledge that the work completed will be accurate and that you are taking that extra time to foster your existing relationships with loyal customers

Use of Chatbots

Have you been to a site recently and watched a small box emerge from the bottom of your screen with an offer of assistance? These chatbots are becoming common with accounting firm websites because they are effective and immediately offer some engagement with visitors.

• Consider a chatbot a small concierge of sorts, whose sole purpose is to communicate with users and to help them to quickly find the solutions to any questions they may have
• Text chats allow for a more personalized experience, and it is possible to incorporate some verbal conversations into the mix if desired
• Chatbots can take on many different tasks, from providing general and specific advice and information, as well as automating basic customer support functions

Refined Video Content

Just as you are careful to embed the appropriate SEO keywords into your written content, it is important to focus your video content with SEO firmly in mind.

• Improve SEO rankings with optimized video content that includes keywords in titles and descriptions
• Adapt your content to the changing algorithms of search engines
• Videos are often more engaging than lots of text on a page. You can further refine yours to not only embed SEO keywords, but also to have a bit of fun content that draws a stronger emotional response and invokes the desire in its viewers to sign up for your services
• Videos are shared a massive 1200% more often than text and links combined, so make use of this specialized content that can reach many viewers
• Titling your video with a question that is geared toward your intended viewers is a great method to get hits from prospective customers
• Stay on top of trends as you do with written content to ensure relevance and innovation

Reviews

It can be fun to give online reviews to great restaurants you’ve been to, or poorly written books you wouldn’t recommend. It can be much more nerve-wracking to see written reviews about your firm and services, but these aren’t going away any time soon. Research shows that people actually trust online reviews just as much as from their friends, so make sure that you don’t ignore giving attention to yours.

• It’s OK to ask your best customers to write a quick review of their experience with your firm
• By adding testimonials to your website, you can bolster rankings. Case studies help with this, too
• If you own your review page, you can curate the contents. That doesn’t mean erasing negative reviews, but cutting down on inappropriate comments will certainly help

Content is driven by artificial intelligence, so take these trends under careful consideration when creating your own marketing strategy. Use these tools to gain insights about your target audience and their needs so that you can anticipate these needs and better serve them. Mapping content your visitors are consuming can also be an excellent tool for better content creation on your own site.

Give yourself and your clients the gift of more attention and clear a space for recurring relationships by integrating these trends into your practice. Do the research so you can specialize and personalize, and then get to work!

Start easily automating today with a free, 14-day trial for Time Tracker. Take control of your billable hours and turn time into money. No credit card required.

The post 2019 Marketing Trends For Accounting Firms appeared first on eBillity.

The global accounting software market will be worth around $11.8 billion by 2026. Subscribers continue to climb. Xero users grew by 24% over the past 12 months, QuickBooks Online subscribers grew by 41%. In addition to these statistics, top accounting firms hit a record £15 billion in fee income in the UK last year.

Here are a few of the top 2019 accounting trends:

Automated Accounting

Investing in accounting software is a trend that is not going anywhere; digitally tracking and recording account information means better accuracy, fewer errors, and greater organization.

• Invest in an accounting software that best fits your business needs
• Easy accessibility means the input of exact data
• Elevated speed equals less cost
• Simplicity of apps revolutionizes traditional bookkeeping methods

Focus on Cash-Flow Consulting

We know that small businesses are what drive the global economy. In the United States, more than half of Americans work for or own a small business. At the start of 2018, there were 5.6 million small businesses in the UK alone, which accounted for 60% of all private sector employment. Having enough cash in the bank means maintaining an accurate cash-flow forecast at all times.

• Plan for the long-term by keeping an eye on your cash flow
• Make crucial decisions about investments
• Support the growth of your business by employing adequate staff

(Keep) Using The Cloud

Certainly the idea of using cloud-based services isn’t new; it was huge in 2018. And it’s not going anywhere. Firms around the world are continuing to use its services to move and securely store massive amounts of data.

• Improve efficiency and enhance security for your business and your clients
• Become more proactive and collaborative by switching to the cloud
• Easily and quickly create and analyze reports and data
• Access data wherever you are
• Innovation in cloud-based services means that investments are expected to spike by 50% over the next four years

Focus on People

With all of this focus on automation, how can your firm stand out from the crowd? The answer might surprise you. By using accounting technology to work better and more efficiently, you can free up time to really focus on your valued relationships.

• With the help of technology, advisors can spend more time with clients, employees, and their accounting network
• Relationship-building will help your business grow
• Build better alliances with app partners, other accounting businesses, and employees

Take some time to personalize for an extra touch, and give some thought to specialization to stay competitive. A whopping 67% of accountants are feeling that the industry is more competitive than ever before.

Ensure your invoicing is accurate by using cloud-based time tracking software. Try our 14-day free trial of Time Tracker and increase your billables by up to 20%.

The post Top 2019 Accounting Trends appeared first on eBillity.

These leaps forward save a lot of time and money. But how can you be sure you’ve chosen the correct software for your business?

Keeping an ever-watchful eye on the money going in and out of your business remains crucial to any business, and having a program that meets your specific requirements matters. Invoicing, reconciling transactions, automated data reports, and other tasks additional to the regular, daily accounting tasks is going to depend on your industry, the size of your business, and individual needs such as whether or not you’d like to track performance or set timers.

Choosing the best accounting software will therefore depend on a number of factors. This challenge can be simplified with some research into the many options offered. Take the time to gain an understanding of how your own business runs, its basic accounting needs, and then use this data as a benchmark to help you to arrive at the best decision.

Find out which accounting software is best for your business.

Sage

Are you in the specialized  industry such as manufacturing? Sage may be perfect for your business. Its features include solutions for inventory, accounting, payroll, payments, and enterprise management, making it ideal for businesses of all sizes.

• Financial management packages that are tailored to address the specific needs of different industries
• Construction, government organizations, and nonprofit businesses are included in their specialized packages
• Assets, construction, real estate, and HR are industries included in solutions
• Manufacturing, service, and distribution companies are given specialized capabilities within each service product
• Work remotely with a mobile, cloud-based platform
• Fits the needs of startups to enterprise companies

Xero

Does your business focus on retail, real estate, or IT? Xero’s features list includes solutions for bank reconciliation, inventory, bill payments, and invoicing. It is designed for small and growing businesses.

• Provides business owners with instant access and visibility of their financial position
• Bank transactions are imported and coded automatically
• Cash flows, account details, and transactions can be accessed from any device with an internet connection
• Online billing helps to keep on track of bills due and spending habits
• Mobile review and approval of each receipt
• Automatic credit card and bank account feeds
• Business and management reporting, as well as purchase orders, expense claims, and accounts receivable
• Supports multiple tax rates and currencies

QuickBooks

Are you self-employed, and wondering if there is an accounting software for you? Not to worry–there is software to address your specific needs too. QuickBooks lets you track business mileage, generate self-assessments, auto-categorize expenses, and connect your accountant.

• Offers accounting, payments, time-tracking, and payroll tools
• Versions of QuickBooks are available in many different markets, including Canadian, Australian, and British divisions, which offer different versions to support the tax needs of each
• Remote access capabilities, electronic payment options, online banking and reconciliation, and mapping features
• Manage your business cash flow and expenses easily and on-the-go
• Create accurate invoices easily
• Utilize dozens of intuitive financial reports

MYOB

For those of you looking to expand your business, MYOB (Mind Your Own Business) is an excellent solution for business owners. From startups to powerful manufacturing companies, there are solutions for every size business, and this company will grow with you.

• Multinational corporation providing accounting and tax service software
• More than 50 business management solutions
• Create budgets with information from loss and profit statements
• Apps for both Android and iOS devices for on-the-go services
• View cash flow and manage payroll remotely
• Manage bills by linking invoices and stored bills to the correct accounts
• Cloud-based storage allows for real-time updates
• Payroll management becomes simple with stored employee information
• Send payslips to staff via email
• View tax liabilities and outstanding invoices

Reckon

Perhaps you specialize in the fitness and health sector. Reckon is an accounting software to fit your needs. With cloud-based solutions, its software provides solutions for small businesses and the self-employed.

• Real-time cash flow and net position
• Online practice management software for health and fitness professionals
• Easy to use online accounting and marketing
• Schedule and manage your finances with a single platform
• Remote access from all devices with an internet connection
• Online practice management for better clinics
• Schedule appointments, manage bookings, keep track of your customer data and manage your finances all from one place
• Automatically import transactions from bank accounts
• Record time spent on tasks
• Claim employee expenses
• Automatic updates

Time Tracker

If you are an Accountant, Time Tracker is the perfect tool to add to your arsenal. Improve efficiency and increase your productivity by taking advantage of features such as time tracking from any device, cloud-based security, and invoicing.

• Automatic employee timekeeping, time entry approvals,  and time capture capabilities
• Track time with time cards, which allow employees to clock in and out with ease, track their break times, and switch between projects
• Round up or down automatically when setting time (for example, if an employee clocks in at 09:55 am the time entry can round up and be recorded as 10:00 am)
• Mobile time tracking and geolocation tracking, timesheet management, and offline tracking
• Avoid billing disputes by verifying locations and route times for employees with geolocation services
• Take photos of receipts and upload them to better track expenses and add to client invoices if needed
• Set personalized thresholds for the automatic calculation of double- and overtime, and receive notifications for these rate increases
• Branded client invoices and online payment links for ease of billing
• Billing and invoicing, multiple billing rates, and billable and non-billable hours Employee database with overtime calculation

By now you should have a much clearer idea of which accounting software is the best option for your business.

Ready to take the leap and give one a try? Time Tracker can be used from anywhere on mobile or desktop, and you can sign up now for a free, 14-day trial. No credit card required. Give yourself a chance to increase productivity and get paid faster right now.

The post Which Accounting Software Is Best For Your Business? appeared first on eBillity.

Tax deductible expenses fall under the general umbrella of “ordinary, necessary, and reasonable” expenses that contribute to a company’s income. These expenses can be subtracted from a business’s overall profit before being subjected to taxation.

The Internal Revenue Service (IRS) defines “ordinary, necessary, and reasonable expenses” as those which are common and accepted within a trade or industry, and is helpful and appropriate to your business. It is important to differentiate business expenses from capital expenses and personal expenses.

An expense does not need to be vital to be considered necessary. Some business expenses are specifically prohibited from being deductible, by law. These include clothing worn for work other than a uniform, bribes, traffic tickets, and unreasonably large expenses. Even if these expenses have contributed to the profit of a company, it is important to remember that they are not able to be claimed legally. You can see why it’s so important to have a concrete understanding of your deductibles!

Here is what you can and cannot claim for your business expenses:

Personal Expenses

Normally, personal and business expenses must be separate from each other, and living and family expenses are also usually independent from business expenses. But there are exceptions to this rule.

• Divide the total cost of expenses that are used partially for personal benefit and partially for business. Deduct the sum which was used for the business. An example would be if you received a loan and used 70% for your business, with the remaining 30% used for a holiday. That personal 30% is not deductible, as it was used for personal interest, but the 70% can be deducted as a business expense.

Home Office Expenses

Expenses concerning maintaining a home office can be a complicated issue. This is an area of tax deduction which is often abused and misunderstood. Only the portion of costs specific and exclusive to your business can be claimed.

• If you have a room such as a home office used solely for work, you can qualify to claim home office expenses. The costs to maintain that specific area can be deducted
• You cannot claim a landline as a business expense, as the IRS always considers this personal
• The space used for business must be entirely used for business (unlike a desk area which is also in a room used as a bedroom, for example)
• Figure the total expense amount associated with your home (mortgage interest, rent, real estate taxes, insurance, maintenance, etc) and deduct the percentage of your home that is dedicated to business
• The space used for business must be your principal place of business
• If you are confused, try using the IRS method of claiming $5 per square foot in your home which is used for your business
• The pro-rated cost of particular capital improvements can be claimed. These are improvements that improve the home permanently, like a new roof or addition

Automobile Expenses

It is likely that you’ll need to drive a car for business, even if you work from home. Luckily, business-related mileage on an automobile is tax deductible. Just don’t include your regular commute to and from work.

• As long as your car travel is used specifically for business purposes, you can claim the mileage
• There are two methods that the IRS uses to calculate mileage deduction: straight mileage, which multiples the cents-per-mile allowed by the number of miles identifiable with business use of the auto, and the expense approach, which is the total sum of the car operations for a year (insurance, gas, etc), multiplied by the total percentage of the annual mileage used specifically for business purposes
• Keep all automobile records accurate and up-to-date to properly calculate business mileage

Supplies

Who doesn’t love office supplies? These are other items which can be claimed as fully deductible business expenses. You are able to claim the cost of office supplies used during the year. Here is what can be claimed for business office supplies:

• Pencils and pens, staplers, paper clips, and other traditional office supplies
• Janitorial and cleaning supplies
• Organizational areas such as filing cabinets, storage lockers, and cabinets
• Invoices and sales receipts paperwork and other record-keeping supplies
• Furniture under $2500, like bookcases, shelves, and desks
• Postage for shipping your products

Advertising and Promotional Expenses

Yes, you can claim expenses used to promote / advertise your business! Getting word out is even more exciting when you know you can deduct the costs of doing so.

• Print and online advertising are included
• Workshops and seminars given by your business are another expense you can claim back
• Business cards, newspaper, magazines, and TV and radio advertising are deductible expenses
• If you are freelancing, the costs attributed to setting up, launching, and hosting your website can be claimed
• Membership dues for places or organizations that directly help your business are tax deductible
• Ideas can even be deducted! The time and energy it takes to formulate slogans and ad copy, or creating logos and graphics can be claimed
• Sponsorships for your business in your community are deductible, so get those t-shirts printed with your logo for your local team

Travel Expenses

Ordinary and necessary expenses for business travel can be deducted on your business taxes.

• Ensure your records clearly show amounts for each expense incurred while traveling, including meals, accommodation, and transportation fees
• Record exact dates of departure and return for every trip
• Record numbers of days spent on business, names of cities, and business reasons for travel
• Record expected business benefits from this travel
• Laundry and cleaning expenses while traveling are also deductible

Now that you have a good idea of what you can and can’t claim for your business expenses this year, let Time Tracker help you easily keep some of your deductible expenses in order. Simply take a photo of a receipt and upload it to Time Tracker. The snapshot will capture all of the relevant data such as date, price, and taxes, and record it as an expense and attach it to your invoice. Save hours in invoicing!

Save time and increase productivity today with a free Time Tracker trial. No credit card needed, cancel any time.

The post Small Business Expenses: What Can and Can’t I Claim? appeared first on eBillity.