Shared by Lynn Wise of Contractor In Charge:   With the rise of digital transformation, the experts at Contractor In Charge note that technology isn’t just something that more businesses are taking advantage of. It is also starting to heavily influence how consumers interact with businesses. As a result, consumers are becoming more demanding and expect more from their businesses. Consumers want real-time solutions to their problems and questions. They want a business that will go out of its way to help them. At Contractor In Charge, they have also noticed a trend of consumers wanting convenience and personalized experiences that make their lives easier. By taking advantage of digital transformation, businesses can deliver all of these things—and more—to consumers in a way that’s convenient for them and makes their lives easier. Here are the top technologies to use:   Advice from Contractor In Charge: Embrace automation When it comes to business transformation and digita...

Shared by Lynn Wise of Contractor In Charge: Gartner research has uncovered that an average of $15 million is lost by businesses annually due to bad data. IBM tallied up that sum for the U.S. economy and put the total at $3.1 trillion, according to Inc . At Contractor In Charge, they note that data has become such a valuable resource for businesses because it can be analyzed and used to make informed decisions that help drive the success of that company. However, they also note that when data isn’t accurate or reliable, it has the potential to have an adverse impact on a business by creating inefficiencies, increasing costs, and even putting confidential information at risk. In this article, the pros at Contractor In Charge explore why data quality is critical for your business and how you can achieve it.   Image credit: Markus Spiske   Advice from Contractor In Charge: Go for accuracy first in business Before you can even begin to think about how you might improve you...

Shared by Lynn Wise of Contractor In Charge:   Operating a business comes with numerous challenges and responsibilities, according to the pros at Contractor In Charge. One of the most important things that new business owners must understand is how their business accounts and financial statements work. If you’re starting a business or thinking about doing so, understanding accounting terminology is an essential first step in making sure your company is set up for success. In the business world, cost of goods sold (COGS) is a term that you’ll see frequently. In general, COGS refers to the costs associated with producing or acquiring products sold by a company. At Contractor In Charge, they explain that you can think of it as how much it costs to make something in order to sell it.   Image credit: Cottonbro   COGS Defined According to Contractor In Charge, COGS, or cost of goods sold , measures the total costs associated with producing a product or service that has ...