With today’s competitive market it’s more important than ever to stay on top of your company’s finances. Complex organizations with multi-companies and international businesses – resulting from growth, restructuring or acquisitions – find financial consolidation and cash management especially challenging. They often end up with systems that aren’t talking to one another, diminishing financial transparency and lost money, time and opportunities.
So how do you get your organization’s finances in order? It’s important to find a proven user-friendly consolidation solution that combines accounts from across a group of companies into a single “consolidated” group that provides statutory and management reporting. This integration will give executives fast access to key performance indicators for drilldown analysis.
In terms of cash management, multi-company or international organizations should be able to significantly cut down on intercompany payments, reducing the number of transaction related fees. Cash planning becomes easier and cash-flow can be monitored to not exceed a predefined level.
A good consolidation and cash management solution will help your organization cope with inputs from any number of ERP, finance and other operational systems so your business can quickly adapt to change. Using a powerful yet simple consolidation and cash management solution will help you get your organization’s finances in order.
If your business is a multi-company or international organization, we’d love to hear about the consolidation and cash management difficulties you face and how they have affected your operations. Are you taking steps to improve the financial transparency of your business and if so, how? Please share your comments below.
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