In an economic downturn, knowing your business’ break-even point is necessary for survival. There is a significant risk of allowing expenses to outpace revenue if expense analysis is not a continuous focus.

Boise is constantly being ranked as one of the top growing cities with one of the nation’s fastest-growing job markets. Alongside Boise, nearby cities Meridian and Nampa are among the top 10 fastest growing cities in the country.

Society has been hearing the same riff for years: in the future, everyone’s job will be done by a robot. While it is true that many jobs and positions can be fully automated to save both time and money, accounting is not likely to be completely automated in the future.

A well-run accounting and finance department is one of the most important parts of running a business. An important part of a well-run accounting and finance department is a supervisor.

Financial success looks different for every business. A new business will measure financial success differently than their more established peers.

Throughout our Roadmap to Recovery series, we have addressed various tools and strategies that business owners can use to restructure and strengthen their businesses. As you move forward in the new business world brought on by the COVID-19 pandemic, we hope you can put some of these tools to use for your company’s success.

A big part of creating your company’s roadmap to recovery is prioritizing financial visibility. Dynamic financial reporting software helps your business innovate the way you utilize its financial data.

The Federal Reserve announced that they have created a program that will grant funding to small and mid-sized businesses who were in “good financial standing” prior to the COVID-19 pandemic. The program, called the Main Street Lending Program, allocates $600 billion of the Federal Reserve’s CARES Act funding to disburse loans to businesses struggling in the wake of the pandemic.

In the wake of the COVID-19 pandemic, businesses will start to reopen and will be forced to readjust to the new economic landscape. Many businesses will want to resume their usual operations as quickly as possible.

At this point in your journey using the roadmap to recovery, your business has a 13-week cashflow forecast and a breakeven analysis. The next step is readjusting your budget according to what is now feasible for your business in the post-pandemic economy.