Consider the hydraulic fracturing industry or as it is commonly known the fracking industry. It has contributed to the growth of the United States into one of the leading producers of crude oil and natural gas. The process violently disrupts shale formations to release trapped deposits of crude oil and natural gas. The critical flaw in the overall positive energy production picture is the residue of toxic waste water. The heavy metal laden residue of the process poses severe environmental hazards including airborne chemicals and contamination of ground water. However, a small start-up company has introduced a technological process to convert toxic waste water into clean, drinkable water. In the news, a small business start up, Oasys Water has captured a great deal of interest; it can clean toxic waste water.
A Small Start-up Can Change an Industry
For some governments, the environmental issues associated with hydraulic fracturing processes pose a potential limitation on its use. In the United States, the State of New York imposed restrictions on hydraulic fracturing based on environmental concerns. The potential impact of a precise and efficient waste water cleaning process is profound; It could transform serious public risks into public benefits. With potential markets in every part of the world, the first instances have begun in Australia for gas mining and in China for waste water clean-up. There are real technical challenges ahead for this promising and badly needed technology. This start-up would attract investors who seek to make a profit but also to have a socially beneficial impact. For these investors, the ideal of providing a valuable source of energy and cleaning the waste water involved in the process is a positive economic and social impact
At the Basics of a Start-up
With many technology challenges ahead, business accounting should not be one. While the needs will far exceed the capacity of the best personal finance software, the principles are the same. The start-up must manage assets including patents, a beginning budget of more than $35 million, and an initial staff of 60 employees and officers. The work performed can generally consist of projects and demonstration projects. A typical engagement might begin with extensive data analysis, research and site surveys. The basic business stage is a start-up, and a significant part of the work involves developing markets. Budgets and plans will be a significant part of the internal operations and managing banking, payment, and credit facilities will be important tasks.
Mobile and Continuous Access
User access to the system and the software resources is a vital consideration. With multiple locations and distant project sites, online access offers opportunities for collaboration and team inputs. The software is browser based, and users can access the system using any mobile device. The system can accommodate multiple users and can integrate with partners and third-parties for collaborations and joint efforts. Managers can keep track of projects and handle issues at any time and from any location on the Web.
Enterprise Resource Management
This start-up must manage significant enterprise resources including intellectual property, equipment, and human resources. There are significant numbers of uniquely well-trained and experienced employees. ERP accounting software provides many tools for handling employee needs. It provides space for employee profiles, makes time sheets and controls entries, prints tax forms and manages deductions. It also offers a range of employee coverage similar to the best personal finance software as well as allocate billing hours to contract or customer accounts and also tracks contractor activities and billing hours. Among the many pre-configured reports, it can calculate payroll and payroll taxes.
Invoicing and Customer Relations Management
Customer relations management is an important feature of online, cloud-based accounting software. Companies can deploy it as a stand-alone invoice management service or as part of a full-service business accounting service. The advanced systems offer customizable invoice templates that accommodate logos, business messaging, and flexible arrangement of billing information. They also provide on-page response options keyed to the customer’s choice of payment methods. E-mail invoicing is particularly effective international settings where paper processing would require many days. Managers can develop and issue electronic invoices in a matter of hours. Customers can use the advanced software options for prompt payment. The full-service system can account for every invoice and track them and record the results. One can use automatic reporting to gather important information such as accounts receivable and accounts receivable aging reports.
International agreements and developing projects in widespread locations around the world will pose distinct challenges for document management. Contracts and agreements will require careful attention along with contract documents such as task orders and change orders. International movement of equipment and machinery may require clearances and permits. The document trails must be secure, backed-up and indexed for easy retrieval. Automated functions in the accounting software can assemble documents to make project reports. Data security is an important consideration as work will regularly involve patented processes. Reports are another instance of document management; they play a key role in internal management functions. Businesses need up to date and accurate data to support financing and investment activities.
Finding the Right Tools for the Job
Sage One offers a comprehensive online business accounting service. This versatile system works for micro businesses like the best personal finance software. This cloud-based full-service business accounting system is ideal for small business and start-ups. It works well with simple, flat organizational structures and well as vertical and complex organization. It has a built-in capacity to automate and handle many routine tasks and free managers for work on the main business of the enterprise. The system is scalable and expandable.