A common perception exists that the Finance and Admin function of a company is only a cost centre and its sole purpose is to record, report, repeat. Many of our finance professionals and staff are constantly stuck in trying to keep the records up to date or trying to put out the next fire, which leads to finance functions not being able to spend sufficient time on analysing the financial information, predicting trends and being able to predict a cash flow shortage in the future.
We have noticed that many finance departments are so busy being busy, instead of working according to a structured plan and methodology, which could eliminate some of the following symptoms in your business:
You might already have experienced a few indicators of an ineffective Finance Function but have been unsuccessful in accurately pinpointing the exact area that needs to be improved.
We have developed a detailed Finance Function evaluation which can assist you and your business in easily identifying the opportunities for improvement. If you can identify any of the symptoms which we have listed above, then you are welcome to contact us to discuss how these symptoms can be rectified.
We cannot solve our problems with the same thinking we used when we created them – Albert Einstein
This article is a general information sheet and should not be used or relied upon as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your financial adviser for specific and detailed advice. Errors and omissions excepted (E&OE)