You’re getting close to the end of the first quarter of 2014—is your business bank account in the shape you’d hoped for? If you’re not as in the black as you’d anticipated, here are a few strategies to get you back on track.

Evaluate your vendor relationships.

Look at your existing vendor contracts and take note of when they are up for renewal. Consider how much return on investment you are getting from these relationships, and whether they’ve lived up to their potential. If not, it may be time to consider making a switch when possible. Moving to a lower-cost vendor, however, is not always the answer: In some cases, investing in a premium level of service can pay off: With inbound marketing, for instance, your company’s reputation may suffer if you choose a subpar provider. However, with services such as web hosting or Internet providers, switching to a new provider or plan may save you money on your bills each month.

Consider SaaS solutions.

These days, there are cloud-based business solutions available for everything from data storage to bookkeeping to point of sale systems. If you’ve previously used an on-premises solution, making the move to the cloud can save you money and help you stay on top of upgrades and app integrations that can help you run your business more smoothly. Cloud-based tools typically run on a monthly subscription basis, enabling you to predictably manage your monthly expenses.

Revamp your annual business budget based on your income to date.

Now that you’re nearly through the first quarter, you’ll be able to tell whether your business is living up to (or hopefully, surpassing) your expectations. If you’ve fallen short of your financial projections, it may not be the right time to spring for new computers for your whole team or consider opening a new retail store. But if you’re doing better than anticipated, consider investing in strategic moves that will help you increase profits even more, such as increasing your marketing budget and hiring new sales staff.

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