Conclusion

Key investments in financial management for business growth

Conclusion – Key investments in financial management for business growth

Financial complexity will always be a challenge to face. It is also a challenge which scales with the business. Organizations who struggle with a lack of integrated financial systems or heavy manual intervention will only amplify those challenges as they continue to grow.

Whether or not M&A activity is on the horizon for a business (and for many, it will be), there should be focus on three core areas to ensure that their financial management solutions help growth, rather than hinder:

1.

Automation
of manual financial processes

2.

Scalability
and system integration

3.

Real-time visibility and a single source of truth

When these areas are lacking, the data shows that it leads to long M&A integration timelines, lost time and effort across the finance teams, and missed growth opportunities throughout the business.

By shifting away from manual processes and disparate financial tools and moving toward seamless integration and dynamic access to real-time financial data, finance decision makers are better set up to spend time where it is important – the growth of the business.

Conclusion – Key investments in financial management for business growth

Partnering for success

Successful integration and optimization across a function which is a) so complicated,
b) so baked into every other function, and c) so critical to the business operations requires the right technology and the right expertise.

Most organizations recognize this, with 90% of organizations open to third-party support to optimize cash flow management.

Internal IT and finance teams are often stretched too thin to do this alone:

The top technical challenge following M&A was a lack of IT talent and resource allocation

Senior finance decision makers lose 2 days per week to year-end consolidation in the run up to deadlines

The equivalent of one FT-employee’s time is spent investigating and updating discrepancies in project financials per week

External partners bring experience, best practices, and the tech expertise that over-stretched internal teams lack, helping them to achieve the goal of greater integration and automation more easily.

Now is the time to get your financials in order and future-proof your business.