Zybra Private Limited

Accounting Software
303 , Shivalik Highstreet
besides Keshavbaug party plot , Vastrapur Ahemdabad , Gujarat 380015 India (079)48009272

Receipts Manager by Zybra

Zybra Accounting Software is an easy to use cloud based accounting software for Small & Medium scale business. It makes Accounting EffortLess and can be accessed Anytime & Anywhere. Zybra is a feature rich software with many features including 1. Dashboard – Real-time updates of data in graphical form. Shows graphs of Total Receivables, Total Payables, Cash Flow, Top Expenses, Income vs Expenses and more. 2. Contact – User can manage all the contacts of Customers & Vendors. User can also view the receivables & payables of each of them & generate customer/vendor statements. 3. Inventory – User can manage basic inventory of items/services. 4. Banking – All Cash & Bank Accounts can be added & managed here. 5. Sales – User can Add/Send/Edit/Covert Estimates/Invoices/Recurring Invoices/Credit Notes/Payment Received for sales related transactions the business. 6. Purchase – User can Add/Send/Edit/Covert POs/Bills/Recurring Bills/Vendor Credits/Payment Made/Expense/Recurring Expense for purchase related transactions the business. 7. Accountant – All chart of accountants & Journal Entries can be managed here. 8. Taxes – User can create different Taxes, Compound Taxes for sales & purchase entries. 9. Documents – This is a basic DMS for all bookkeeping related documents(Invoices/Bills/Receipts/Bank Statements)[this works well with Receipts Manager App]. 10. Reports – Gives access to 40+ different reports including P&L, Cashflow & Balance Sheet 11. Organization Profile – User can manage details about their organization & add logo for each transaction document that is generated. 12. Opening Balances – to enter the opening balance of the last Financial Year when starting to use the software 13. User & Role Management – Apart from basic accounting features, user can also invite/control access to different users for Add/View/Delete rights for different section. 14. Module Preferences – Activate/Inactivate modules when not needed for the business. 15. Live Chat Support – a 24x7 live chat support is provided inside the software.
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How to Reduce your Start-Up Burn Rate?

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What is Burn Rate?

Burn Rate refers to the rate at which a company uses its resources. It is a common metric of performance and valuation for companies, including start-ups. Startups initially cannot generate revenue as they are yet building their customer base and improving their product.

Following points will help you in reducing your burnout rate:

Calculating your Burn Rate:

Calculating your burn rate is the first step in reducing the same. Burn rate is nothing but the rate showing the capital expenditure you incur in a month. In other words, it’s how much money you require in a month just to keep your business going when you are not earning any revenue.

Example:

If you start your Business with Investment Amount of INR 60 Lakhs, Your Operating Expenses is INR 10 Lakhs/month. Therefore you would required to start earning some revenue by the end of 6 months or else your will not have any amount left for the 7th month.

Now lets say, you start making some 5 Lakh/month as Income(Revenue) from month 3.
Means you have 40Lakhs(60 – 20) at the start of 3rd Month.
For month 3, You make an income of 5L and your expenses is 10L, ie. at the end of 3rd month you have 35L(40-10+5)
That means by reducing your monthly burnrate from INR 10L to INR 5L

For month 4, You make an income of 5L and your expenses is 10L, ie. at the end of 3rd month you have 30L(35-10+5)

So essentially, in 2 months you have increased your runway by 1 month.

As you can see from this simple example, it isn’t some rocket science: the slower your burn rate, the longer your business lasts. 

And time, in the land of startups where the next round of funding or product-market fit can be hard to find, can be the most valuable commodity.

Runway Meter on Zybra Dash Board

Runway Meter on Zybra Dash Board

Monitoring your Burn Rate:

Staying on top of your burn rate will give you insight into your business:

  1. When do you run out of money?
  2. When will you will achieve break even?
  3. When will you be profitable?

Not surprisingly: investors—actual and potential—are also very interested in your burn rate. You’ll want to keep a close watch on your sales pipeline and cash-flow statement and keep a tight rein on your expenses. And, of course, you’ll want to cut unnecessary costs wherever possible to keep a safe burn rate.

Outsourcing some processes to reduce Burn Rate:

One of the most important way to cut costs is to hire when necessary. Or else rely on contraction and outsourcing work as much as possible. You can outsource functions like accounting, finance, human resources and corporate governance. These functions are some of the essential functions for any start-up business, but it can be expensive to hire a full-time personnel when you are just getting started.

A better choice is to outsource these functions on an as-needed basis. Whether you need day-to-day management of your finance and administrative functions or high-level strategic support, handing this responsibility over to a company with consulting expertise can help you to reduce your cost and it will give you time and resources to focus on your core business.

An open mind leads to Closed Wallet:

It is important to reduce burn rate and running a start-up successfully, one needs to have an ability to abandon ideas that aren’t working. It can be very easy to get hung up on a brilliant idea. But, sometimes, no matter how brilliant the idea, you need to ditch it. Don’t start throwing good money after bad to support something that isn’t helping you to turn a profit. Once you start going down that road, it can be hard to turn around.

Instead, take a step back and take an objective look at your business goals and initiatives. Put into effect a build-measure-learn feedback loop. This will give you the scientific data you need to make important decisions about your business. Once you have your data, listen to it: keep the winners and cut loose those ideas, strategies, products, and initiatives that are holding you back.

Avoid Big Expenses:

Avoid capital-intensive business plans or purchases as much as possible. Only invest cash into things that guarantee a good ROI. Depending on your business, this may be the raw materials to produce a better product or a hot-shot developer to take your site to another level. Once your company starts to turn a profit, you will have plenty of opportunities to be a big spender—on a new Marketing Manager, cool office furniture, and the like.

In the end, reducing your burn rate is all about following strict start-up principles to run the business. Your goal shouldn’t be just to spend less, but it should be to create and put into practice a well-planned process for making your business successful in present scenario and for future.

Use Zybra’s Accounting Software to keep check on your Daily Runway. SignUp NOW!

  • Posted on May 8, 2018
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  • By Leena Bhagchandani
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  • 0 Comments

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