Stashed ideas - Deepstash

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Stashed ideas

12 STASHED IDEAS

Pros

  • Accuracy.
  • Automation. By using artificial intelligence, the software can record and reconcile transactions and generate financial reports.
  • Relatively low cost
  • Streamlined invoicing. Software like FreshBooks helps to create invoices within minutes and set up automatic payment reminders.
  • Collaboration. Many accounting programs let you grant outside access to your accountant.

Cons

  • Technical problems.
  • Potential for fraud.

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Becoming a differentiator

The path to differentiation depends on whether your company is a hopeful, doer, visionary, or a differentiator.

  • Hopefuls need a strong brand strategy.
  • Doers will benefit from a capabilities-driven strategy. First, identify your competitive advantage and build a strategy around it.
  • Visionaries should focus on building operational capabilities so that they can take action on their strategy.
  • Differentiators should focus on growing strategically through innovation, strategic alliances, etc.

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