What is Order to Cash? TheOrder-to-Cash (O2C or OTC) is the entire process involves in the order processing system starts with receiving an order from a buyer. The order processing involves Order Management, Order Fulfillment and Shipping, Invoice Generation and Payment, and Account Receivables. The complexity of the OTC...
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Financial Transaction Processing (FTP) is a very broad term. Recording monetary transactions and preparing financial statements are just two of its aspects. It includes an array of functions like Accounts Receivables & Payables, Inventory Management, Project Finance, Budgeting, Travel Accounting, Vendor Management, etc. Moreover, all these functions are interlinked...
Choosing the right corporate structure is the biggest consideration at the forefront of your business planning. Generally, a business entity can be structured as a Proprietorship, Partnership, a Limited Liability Company (LLC), or a Corporation. Various factors should be considered while selecting the corporate structure for your business-like Capital...
A Startup should be financially backed up through a sound idea. You need to get an idea that can generate funds for sufficient capital. It helps startups to grow further. Lack of sufficient funds may result in failure, especially when it is a startup. Therefore the planning of funding...
The Ministry of Commerce & Industry India (MoCI) is encouraging startup entrepreneurship intending to boost the Indian economy. A startup entrepreneur needs to apply for the Startup India Certificate to be issued by the DPIIT (Department for Promotion of Industry and Internal Trade). Here is the registration process. Startup...
A Business Plan helps entrepreneurs to raise capital. It is the process of going through essential questions. It is necessary that your Business Plan meets your needs. There are two main categories of Business Plans: 1. Traditional Business Plan Traditional Business Plans are standard and comprehensive as well explained in...
Foreign Exchange, or Forex, refers to the conversion of a nation’s currency unit into another. The trading of currencies happens on global over-the-counter exchanges. This is an exceptionally large market. But it is not so just because of the trading interest of investors. This is because businesses are a...
The Foreign Exchange Management Act (FEMA) was a regulation brought by the Indian government in 1991 in order to regulate cross-border Forex Transactions. It replaced the much more stringent Foreign Exchange Regulation Act (FERA) and was aimed at fostering a more liberal economy in India. FEMA details the procedures...
Access to capital is a major challenge for companies, especially those in the micro, small, and medium enterprises sector. If a company really wants to widen its footprint, the traditional sources of finance like bank loans and lines of credit may not suffice. A business with a good bottom...
The finance function is considered the lifeblood of any business, and for good reason. It helps channelize the monetary resources required to run a business. Even if the core product or service of a business is not related to the financial world, this function plays a crucial role. Its...