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.
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.
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.
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