The majority of people think of financial planning when they think of their personal bank account paying their bills, budgeting, putting money aside for rainy days, and tracking their expenditure. Financial management is more than just that. It involves coordinating and tracking all the money that flows out and enters the company. It also includes making strategic decisions to make the company as secure and profitable as possible.
Every business should set themselves goals, with measurable goals such as maximizing profits and growth of the business. Then, they need to decide how they can reach those goals. This involves preparing financial reports and establishing accounting systems and determining the best way to grow their money. It’s important to consider that even minor improvements in the financial management of a company could make a huge difference to both the short- and long-term performance of a business.
The finance team is accountable for the money that enters and out of a company. They are the ones who set up and implement all of a company’s banking procedures. They supervise the issuance and administration of bonds and shares as well as debts. They also make investment decisions. They must be capable of balancing the books and ensure there is always enough cash in the bank for all operating expenses, and also ensure that any new investments will provide an acceptable return.
Zeni can assist you with your bookkeeping and accounting needs and even provide financial reporting, in the event that your business is growing quickly and you are not ready to hire a full-time CFO or financial controller. Zeni offers startup-friendly pricing and can handle your financial reporting, accounting and bookkeeping remotely.
