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There’s something to be said for a company that endures twenty years of excellence. F.H. Cann & Associates is one of those companies. As leaders in the Business Process Outsourcing and Accounts Receivables Management field, F.H. Cann & Associates has been able to stand out from the crowd by exceeding their client’s expectations. With their technical skill set and world-class team, F.H. Cann & Associates has built a reputation that has no sign of stopping anytime soon.

Accounts Receivable Management

As leaders in the accounts receivable management field, F.H. Cann & Associates understands the importance of monitoring their clients’ finances. Ensuring that the accounts receivables of a company can be a daunting task to place in the hands of an outside company. ARM, or accounts receivable management, is truly the heart of a company and the brain in the machine to ensure that it keeps running smoothly. While understanding your money is important, it’s also vital to the health of your brand. When your company’s accounts receivables aren’t running smoothly, your company can’t run smoothly. They’ve earned their reputation as leaders in the field for a variety of clients and industries.

Business Process Outsourcing

F.H. Cann & Associates incredible reputation isn’t limited to accounts receivable management, but also business process outsourcing. BPO, or business process outsourcing, is when your business hires an external company to perform primary functions in your team. F.H. Cann & Associates knows the importance of building professional relationships with their clients based in respect, care, and recovery. F.H. Cann & Associates provides exceptional services that meet and exceed their clients’ expectations. This allows their clients to rest assured knowing that the work that they’re hiring F.H. Cann & Associates for is being done effectively and accurately. Likewise, they know that building a professional relationship rooted in respect is important for both their internal team and their clients. This goes a long way and has allowed F.H. Cann & Associates to build a strong, positive reputation and keep a network of incredible employees and clients making them the best in the field.

We’re not the only ones impressed with F.H. Cann & Associates’ incredible services. Read more about their twenty years of excellence here!

Related: F.H. Cann & Associates Inc. Receives 2020 Best of North Andover Award

If you’re considering hiring a company to work with to ensure that your company is running smoothly, you probably have a list of concerns. Will they be right for my team? Will they get the work done? Will they treat me like one of their own? Luckily, F.H. Cann & Associates’ reputation speaks for itself with the answer to all of those questions as: YES! If you’re ready to step up your team’s resources to grow and expand your business, F.H. Cann & Associates is the right fit for you. Want to get in touch with their team? Find them online at their LinkedIn account. Want a more direct way to reach out? Find them on Twitter here.

What is it that makes a business successful? More than 30 percent of businesses fail within 2 years of opening, and more than half fail during the first 5 years. Oftentimes, they have similar ideas as the businesses that go on to make millions of dollars and open locations around the world. So what sets them apart?

It’s a hard question to answer, since different industries demand different approaches, but there are some generalities that are practically necessary for any business to gain traction.

Fundamental Features of Successful Businesses

These are some of the most important qualities for successful businesses to exhibit:

1. Adaptability/willingness to change. Arguably the most important quality is adaptability and/or a willingness to change. Even the best business plans, written by the most seasoned entrepreneurs, are going to run into obstacles that jeopardize or undermine their core idea; the difference between successful and failed businesses is that successful businesses are willing to undergo a strategic change to keep moving forward. You can learn more about strategic change in formal classes, or simply resolve to be flexible in how your business grows. Similarly, it’s imperative that as an entrepreneur, you keep committing to personal and professional growth; otherwise, you’ll stagnate, and the same problems will keep affecting you indefinitely.

2. Agility. If you run into a problem and you come up with a solution, there’s still a chance you won’t be able to overcome the problem; if you take too long coming up with the solution, or if it takes too long to implement, it could be too late. Good businesses are agile, able to implement new changes and experiment with new tactics on a regular basis. They’re also willing and able to jump on new opportunities as they become available, rather than letting them slip by.

3. A strong leader. Good leaders can reinforce good businesses. They sometimes serve as the face of the company, leading sales, marketing, and advertising strategies. They sometimes serve as a motivator and director for the workforce, determining how productive and efficient employees are. They’re always responsible for making critical decisions, often in trying times. No matter how you look at it, a good all-around leader is vital to an organization’s success.

4. Differentiation. There are likely hundreds of businesses like yours, if not thousands. So what makes yours different? You can’t simply copy an existing business model and hope for the best, and you can’t allow competitors to creep on your territory uncontested. It’s up to you to figure out what sets you apart, whether it’s better pricing, better quality, better service, a unique brand image, or a completely different set of demographics. There’s no single right answer, but it has to be something.

5. Money. Roughly 29 percent of startups fail because they simply run out of money. While it’s nice to imagine that any business can be successful if its idea is simply “good enough,” even great ideas will crumble if they don’t have any financial support. For some businesses, that means not generating enough investor funding at the outset. For others, it means not creating enough meaningful streams of revenue to support the business. For still others, it means hemorrhaging money on unnecessary acquisitions—or expanding so quickly the money runs out. Financial management should be one of your highest priorities.

6. Team morale. Most businesses depend on a workforce for the day-to-day operations of the company, so the strength and efficiency of that workforce will play a role in its success or failure. There are many factors that could culminate into the workforce’s ultimate potential, but one of the most important is team morale; morale impacts employee retention, employee passion, and ultimately productivity. It also determines how far employees are willing to go for their customers, and how easy it is to bring new people into the team.

7. Marketability. You may have a great product, but how marketable is it? Some truly innovative products fail simply because their inventors aren’t targeting the right demographics, or because they’re not able to showcase the best benefits of the product to a wide audience.

Modeling Your Business

Does this mean if you try your best to exhibit these fundamental qualities, your business will be guaranteed to succeed? Far from it. However, seeing your business through these lenses can help you build a more powerful, resilient infrastructure—and if you have a good business model with quality products and services to match, you’ll have a good chance of making it further than most. Talk to other business owners and experienced entrepreneurs to get a better, more personal perspective on what makes a business “work,” and never stop learning and growing.

If you’re new to the responsibilities of owning your own business, you already know that there’s a sharp learning curve. Ride the curve like a pro by taking the time to do your own research along the way.

Knowledge is power, so be powerful. Take the time to start getting good at your chosen profession, and take the necessary steps towards enlightenment. Delve into a few tips that could take you to the next level in your career.

Be a stickler about the rules

Running a good business is heavily dependent upon your efficiency and safety within the operation. Be a stickler about the rules, and make certain your employees are trained in safety. Reducing the number of injuries or mishaps within your operation will save your business time and money.

Take the time to listen

As the leader of your organization, it’s important that you listen to what your professionals have to offer. Some of the best ideas come from unexpected sources, and the people you hire for your business are quality.

Structure various opportunities for sharing into your business operation, and make your employees feel like their ideas are truly being heard. When everyone in your operation feels like they play a vital role, you’ll have a more copacetic atmosphere in the office.

Keep an open line of communication

Communication is the foundational basis for a great business operation. When you have several useful communication protocols in place within your business, the rest of the details of your operation will just sort of fall in line.

Work communication into your business plan, and allow your employees the comfort of knowing they can share their thoughts, issues, and celebrations with the right ears. When your professionals are able to communicate openly and honestly, everyone feels more valued at work.

Consider hiring remote professionals

You’ll strengthen the reach and skill of your business by adding remote professionals to the payroll. Remote professionals are less expensive to train and employ, and you’ll have a wider pool of talent from which to choose when sifting through applicants.

Remote professionals are easier to schedule, and they don’t have to worry about road conditions when it’s time to get to the office. Take the time to truly consider a fully remote staff if it is possible for your organization to do so.

Always prioritize money management

You can’t keep your business running for any length of time without proper money management protocols. It’s always a good choice to invest in a skilled accountant and top-rated financial software. Financial securities are also important to consider to lock down the full scope of your business finances.

An OMS system is an Order Management System and is used to improve inventory control and management of orders from suppliers, and from customers. Before the days of automated order management systems is was difficult to track an order as it went through your business, the order had to pass through many hands and to ensure it was delivered on time and to quality it had to be handled carefully to ensure a piece of paper didn’t get lost or disappear.

Now automated order management systems make running a company so much easier, especially when handling large volumes of orders, and when you add in just in time production and several suppliers and hundreds of components. Not to mention providing customers with so many more options than they used to have including customization, color options, and sizes variables.

But now order management systems are becoming more advanced, what extra features can you look out for that may help you decide on the best OMS system for your business?

Functions of a Good OMS System

First of all a good order management systems will have end to end visibility, providing reports across multiple sales channels. By allowing you to see all sales channels you can make holistic decisions on the business such as negotiating order quantities, investing in plant and machinery, deciding when to order and where to have it delivered. It also allows you to allocate stock based on status, so if an order is placed the stock can be allocated in the warehouse even though it hasn’t left the warehouse. Manually counting doesn’t take this into consideration. For stock counts and audits you can also track stock in transit or on order.

It also allows you to build in total product cost to your return on investment and profit and loss calculations, so you can work out which of your product lines are most profitable, and if you may need to change prices for any products.

Integrated order processing allows you to synchronize order and warehouse inventory management with EDI data provided to stockists and customers so they know what quantity is available to them and a relatively accurate date of delivery if they were to place an order right now. This massively reduces manual data entry which eliminates errors, reduces staffing headcount and costs and reduce order processing times. Integration with EDI systems also bring you into compliance with larger retails and wholesales who often will only deal with suppliers who use EDI systems.

Customer fulfillment is optimized through delivering an order management system by having end to end order management, being able to support bulk and single SKU orders, and therefore to work with customers of varying sizes from large retailers to individual consumers.

Another facet that can be added as well is drop shipping which allows for adoption of new suppliers to greatly increase product portfolio and SKU count without have to increase warehousing and shipping infrastructure.