Ensure excellent financial management with these 2 technologies.

21 Oct Ensure excellent financial management with these 2 technologies.

The day to day of companies and their financial management:

Unstable demands, production costs that vary according to the market and suppliers that are constantly changing. These are just some of the challenges that are common to the reality of almost all companies at the moment.

Faced with this complex scenario, organizations had to adapt to execute various financial processes that ensure financial management with competitiveness and cost control.

Some of these actions, such as dealing with several suppliers for example, in addition to involving a high level of difficulty, depend on more than one sector involved in the final decision making.

We are talking about companies of different sizes (small, medium and large) that have in their business processes the sharing of countless data (through spreadsheets and other documents) and need this flow to work in a practical, agile and intuitive way. .

Being able to manage this information in a concentrated way is not just about the CFO avoiding impractical errors, but also having a macro decision power, over all areas and processes of the company, centralized in a simplified way.

Forecast, Plan and Control:

We already understand that companies had to adapt to remain competitive in the market, and that with that a new level of information and data is required.

This data needs to be in an aligned flow, but you can't spend a lot of time planning and aligning with each area of the company.

So, what move can a CFO make so that data is consistent, centralized and integrates all areas of the company?

Before answering that, we need to take a step back and look at some aspects of sound financial management.

The financial management of a CFO contains similar aspects regardless of the segment in which it operates. Within these similar aspects, there are 3 pillars on the path of correct management. These are: Prevention, Planning and Control.

Every manager has gone through a moment where the prediction of an action changed the course of his planning.

Every manager has gone through a moment where the correct planning of their processes improved their control of time and expenses.

Every manager has gone through a moment when he realized that controlling his assets and managing them from there is essential for greater productivity and effective performance.

Now that we have visualized the market, understood the CFO's needs and outlined the aspects of correct financial management, we can answer the question: What movement can a CFO make so that data has consistency, is centralized and integrates all areas of the company? The answer is clear. The movement of innovation as a solution, technology as an ally.

The right technologies for the manager:

Regardless of the segment that a manager works in, he or she needs to have the right tools for the correct financial management of their projects/assets/resources.

Some tools are essential to ensure such management, here are the two fundamental tools for this:

• Mobile Technology – Managing spreadsheets, people and other assets can be an arduous and never-ending task. Let's imagine the following example: You are the financial manager of a multinational that is traveling to another state. A few minutes before you get on the plane, an email arrives with an urgent request to approve the purchase of a new batch of supplies for your company. That's where mobile technology comes into your favor.

You could simply open your ERP application, look at its features and make a decision based on real data. All this in a matter of minutes and depending only on your cell phone, application and internet. Ready. Approved order and you didn't need more than 10 minutes.

Now imagine without this mobile technology. How would you know how much budget your company has for purchasing? How to quickly compare and make scenarios to help in your decision? How to see general company resources? The point is that mobile technology not only guarantees you time, it guarantees the necessary precision for correct decisions.

• Cloud planning and budgeting solutions – Spending control is one of the biggest difficulties for almost all companies. Being able to plan and manage the number of data across different sectors is one of the most complex missions of a CFO.

A cloud planning solution gives you this result, in addition to provide sophisticated modeling and prediction analysis capabilities.

With a short implementation period, this type of technology gives you immediate control of spreadsheets and data, as well as reports and dashboards that display plans, forecasts and current data that can be created and changed in minutes.