Your finance functions those functions in your business that look after your finances.
They include all your book-keeping and record-keeping as well as sales and buying functions. Often small businesses leave everything to one person - a book-keeper, or perhaps the business owner "keeping the books" after hours.
Yet, efficient finance functions save you money and provide all the early warning information that could move your business from also-ran to successful.
Here are 7 ways to improve the performance of your finance functions.
1. Set a goal
Set a goal of what you want to achieve. What do you want to be done and when by? What reports do you want to be produced and how often? Which parts need improvement and by how much?
There is no point in starting to improve your finance functions without knowing what you want to do.
2. Look at all your finance functions
Don't just restrict your reviews to one part. Keep an open mind and look at all finance functions to see what can be improved.
For example, if you restricted your review of improvements to debtor collection, you might miss the fact that customers are paying late because the customer sign on process doesn't effectively discuss payment terms.
3. Take the...
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6 Steps To Improve Your Finance Functions
