Finance professionals 'get' numbers. They know how to understand and validate data, control it and report on it. So it should come as no surprise that data and finance teams are connecting more than ever, given data is the basis of business growth. Understanding trends, opportunities and risks all comes with the territory and it all key to understanding and growing a business.
- Topic:
- Finance
The claiming, recording and reimbursement of work-related expenses is perhaps one of the most routine tasks any finance team will have to complete. But it's also an area rife with the risk of human error, and if not managed correctly, expense management can have significant knock on effects for a business. This day-to-day finance requirement demands strategic know-how and practical guidance from finance leaders in your organisation. In this blog we explain how expense management can affect everything from your organisation’s tax obligations to its cash flow – and how you can better manage all of the variables for a better bottom line.
- Topic:
- Finance
Introducing financial automation software to your business requires a big adjustment, but it’s a change that you’re highly unlikely to regret. Automation makes it much easier to integrate your systems and improve performance across your entire organisation.
Here are five ways that automation could benefit you.
- Topic:
- Finance
Automating some financial processes has long been a goal in business, and today it’s essential if you want to keep up with the competition. But just what is it that makes it so invaluable? What can it bring to your business that you don’t already have? When you take the leap and introduce financial automation software (link to financials) into your workplace, you’ll start seeing the benefits straight away – including the following:
- Topic:
- Finance
Are you still making do with separate finance and payroll systems? If so, the chances are you’re doing a lot more work than you really need to, and getting a lot less out of it. There are good reasons why so many businesses are now switching to fully integrated software systems. These are just some of the ways that you lose out by doing things the old-fashioned way.
- Topic:
- Finance
Taking office as a finance leader post-COVID may look a little different, but the core things to focus on in your first 30 days remain familiar. According to a McKinsey survey of finance executives, today’s CFOs are responsible for much more than finance. On average, five functions other than finance now report to the CFO. More than half of CFOs say their companies’ risk, regulatory compliance and M&A transactions and execution report directly to them, and 38% of CFOs are responsible for IT. In the same survey, 46% of CFOs spent most of their time on strategy, transformations or another non-finance areas, suggesting just how diversified the list of demands on the CFO is. It’s tempting to dive straight in, but a considered approach will stand you in good stead for the longer term.
- Topic:
- Finance
Transferring information from an outdated financial system program to a new product can be a mammoth task and it’s understandable that many businesses are reluctant to do so. However, continuing to use software long after it has gone out of date can lead to a serious and ever-growing financial burden for your company.
Would you still use an old car that was costing you more and more to run due to its poor condition or an old phone that was painfully slow and did not have the latest data protection features? Of course not, so you should not be using outdated financial software for your operations. This article outlines some of the ways that doing so could damage your business.
- Topic:
- Finance
