Are your routine procedures truly routine? Find out how to streamline reports from an integrated system, and why cloud computing is important for business.
The Finance team is often looked upon as the strategic hub of the business – responsible for financial control and business success, acting as a key role in better decision-making and always trying to find a way to reduce cost.
Increasingly, the finance field is also seeing the dawn of new technologies such as cloud and SaaS applications taking centre stage, offering possibilities of flexibility and efficiency that previous best-of-breed systems could not achieve.
Alarmingly, in some cases (without adequate support and training), finance professionals are using these tools without clear understanding, information or engagement with it, often viewing software and systems as the domain of the IT department, and in worse case scenarios, leaving money on the table through poor technology choices.
As business goes global, finance professionals adapt to the changing environment, but often enough, the systems put in place to manage the processes are not adapting fast enough. A research report conducted by Loudhouse found that 68% of interviewees agree the finance function is so immersed in time consuming tactical processes, that there is not time to think or innovate.
Even worse, 45% of companies are not using completely integrated tools – they have different systems between locations, a hodge-podge of tools, or no discernible financial management strategy.
Without a single version of the financial truth of a company, updated and accessible to those who need it in real-time, conversations about financial information become stalled in the monthly reporting cycle.
If 93% of respondents agree that improved tools and system could increase business efficiency, then what is the solution?
NetSuite is the world’s #1 cloud-based ERP system, incorporating the complete business of ERP, CRM, Financials, Field Service Management,Marketing and eCommerice, in a one-system-solution.
Find out how to streamline reports and discover the integrated management system that will truly innovate and invigorate the finance professional’s role.
Klugo is an official partner of NetSuite, and a sponsor of the Change Makers Accounting Conference. Join us on Monday 24 March at Crowne Promenade, Melbourne, and discover the NetSuite one-system-solution, designed for smarter business.