Financial Process Management

By David Wagstaff

 

Have you seen a music conductor conduct an orchestra. With sometimes a light wave and at other times a vigorous shake of his wand, he times a melee of instruments to perfection, each instrument pitching in at the exact time, for the exact note. When you think of financial process management, think of a music conductor.

Every business, be it large or small, is comprised of a number of a inter and intra dependent processes and the health of a business is determined by the smooth and efficient functioning of these processes and how well these are aligned with the long term goals of the business and customers. Financial process management ensures that all financial and accounting processes are strategically aligned and are playing their part like a musician in an orchestra.

Simply speaking, financial process management is the ensemble of activities of financial planning and financial monitoring and reporting the performance of the business with the application of knowledge, skills, tools, techniques and systems to define, visualize, measure, control, report and improve the business performance with a goal to meet customer profitability requirements.

 

“Financial process management, therefore, is an important ingredient in ensuring that a business is able to profitably sustain the competitive advantage.”

 

To know more about how financial process management can help align your financial and accounting processes to the strategic goals, please call us on (877-866-9813) or visit us at www.clarityfi.com and our expert financial consultants will be happy to discuss this in greater details.

This Industry Insight was brought to you by Clarity Fi, Small Business Financial Management and Business Consulting. Clarity Fi helps business owners scale profitably, through done-for-you business financial management, accounting, invoicing, accounts payable, bookkeeping services and business consulting.

Companies achieve profitable growth by looking at key components of revenue, expense, cash flow and identifying where the opportunities for growth lie. Clarity Fi is based in the Greater Philadelphia, PA area, Marlton, NJ and Grand Rapids MI.  Financial Consulting Services and virtual bookkeeping are available all of the major markets.

 

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