Financial sustainability of any business is another important element of the organization. For maximum return on investment (ROI) and longterm financial benefits, a well structured financial management system is key.
Accounting
Accurate and smart decisions are made by organizations which incorporate real-time tracking of assets, liabilities and capital. Based on the past performance and current financial health of your organization, systematic and comprehensive recording of financial transactions pertaining to the organization is necessary. The process of summarizing, analyzing and reporting for these transactions is called accounting. To help organizations grow and become profitable, Enterprise Resource Planning (ERP’s) cloudware is required to analyse the business’ financial data.
Finance
A great financial strategy is to start off with proper use and allocation of funds to improve the operational efficiency of the business. Financial analysis is the process to reduce the cost of capital and increase the value of the firm. It provides the organization with the financial information and trends, that can aid the organization in planning and implementing targets, that maximize profitability and reduces financial risk.
Organizations can either increase sales, by increasing prices over market rates therefore increasing gross revenue, or they can decrease sales by lowering prices, and gain market share; however which accounting strategy would work for your organization? These are basic business strategy questions, where accounting data can provide insight for making the right business decisions.
Enterprise Resource Planning (ERP)
Numerous plans, tasks and people need to be organized in Start-Ups and Scale-Ups. Having a systematic solution to structure their business goals, can go a long way in helping them keep their operations running, and simultaneously keeping their finances real-time. It needs to be done in a way that is accurate, predictable, and profitable through a cloudware solution called Enterprise Resource Planning (ERP). ERP benefits are boundless, allowing organizations to integrate and manage all crucial and complex processes in a central repository. As time passes on, technology evolves, and eventually ERP cloudware is employed not just for accounting or finance; however for the entire supply chain, including but not limited to: operations, manufacturing, planning, logistics, time management, resource allocation and for change management. ERP is among the most useful tools that can assist organizations in becoming as competitive as possible, and allowing them to distance themselves from the competition.
Every organization has a unique business model, with its own goals and objectives, and usually requires some form of ERP customizations at the Start-Up and or Scale-Up phase. In order to determine a positive return on investment (ROI), organizations have to source the right ERP solutions which derive overall value for the organization. An effective ERP can bring success by just streamlining the operations, since implementation of these tasks can eliminate arduous, complex, and time-consuming processes for the workforce, thus allowing the workforce to focus on operations and projects which are beyond just transactional data types. ERP provides the supply chain with a method for all team members to engage, collaborate, and share data (visual, analytics) with customers, suppliers, and vendors, real-time.
ActaFi will connect your accounting and financial teams to the supply chain by looking at the following:
Analyzing the upstream data collection
Financial planning and business performance planning
Reducing the financial risk of the organization
Applying effective processes to obtain real-time sustainable business results