Managing your company’s financials is the backbone of your business and is vital to the long-term health and viability of your company. Yet attention to your bottom line often takes a back seat during times of increasing revenues and growth. To continue applying the necessary financial rigor to support rapid growth, the accounting department needs the right tools to most efficiently do their job.
This white paper outlines the 10 essentials of a complete financial management system and how the right solution can help you keep up with the rapidly changing business world.
When spreadsheets and workarounds become the norm for your finance department, you know it’s time to upgrade your financial management solution.
Modern General Ledger
Cash Flow Management
Recurring Revenue and Revenue Recognition Management
Financial Planning and Reporting
Fixed Asset Management
The key is to understand what your GRC program is trying to achieve and how a solution can support you in meeting the program objectives.
Your company may grow across multiple geographies, with multiple subsidiaries and international locations. At that stage, you will have to deal with reporting currency, calculating taxation and meeting different legal and compliance requirements for each division. You’ll also need to consolidate financial and business information and gain visibility at the regional and global level.
... what are the remaining 7 points :-)