5 tips to improve your financial management

Improve your financial management

Financial Management requires planning, organizing, directing, and controlling the financial activities of an organisation such as the likes of asset management and expenses. Growth-oriented business decisions are strongly based upon intelligent financial management decisions; the ones that directly contribute to improving the company’s assets and investment decisions.

Practical Steps to Manage your Cash Flow and Grow your Business

Practical Steps to Manage your Cash Flow and Grow your Business

Many business owners I talk to don't have a problem growing their business, they have a problem managing that growth.

Often when a business grows rapidly without being prepared it can lead to strains on the owner’s time, stretched resources, unhappy and disengaged employees and pressure on the finances of the business.

The Importance of Cash Flow Management for Every Business Owner

The Importance of Cash Flow Management for Every Business Owner

Having good financial management is a must for any business. In addition to preparing and understanding your budget, it is also essential that you monitor your cash flow. If you don’t manage it well, you can run out of cash to pay the bills. Pan Am Airlines, for instance, was once a high-flying brand. But it is now gone and whilst the underlying reasons are complex these led to cash flow problems and the company ultimately ran out of cash.

10 Benefits to Outsourcing your Finance Function

10 Benefits to Outsourcing your Finance Function

Many businesses these days are looking to outsourcing as part of a successful long-term competitive strategy – one that cuts administrative costs and increases administrative efficiencies. With the increase of cloud-based services and the increase in business-over-web communications, pretty much any business function can be outsourced. In fact, the worldwide outsourced market was estimated to be $309 billion in 2013 and is growing at a rate of 25% per year[i]!