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:
- Month-end takes very long to complete and the directors and shareholders are not comfortable that they are able to trust the figures which have been reported;
- Staff are uncertain what their roles and responsibilities are and processes are over complicated and takes long to complete;
- The business is not able to facilitate strategic and business decisions due to outdated information or inaccurate information;
- Staff in your finance function are unsure of what is expected of them and unsure how they will be measured in terms of performance management;
- The business relies excessively on Excel spreadsheets and does not utilise their technology and accounting software to automate routine tasks;
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)
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