Controlling the financial operations, business deals and budgeting is managing all aspects of reporting, budgeting and forecasting. This includes analyzing and recording daily transactions to make the financial close each month and compare actual expenses to budgeted figures, and ensuring that the company is in compliance with auditing and tax requirements. It also involves developing policies to assess creditworthiness, bill customers frequently and collect the payments on time to manage accounts payable. On a more fundamental level financial management can help managers gain insight into their current performance, allowing them to prepare for future investments and create resilient businesses.

Financial operations management aims to effectively move cash through a business, from purchasing raw materials and goods that are sold to customers to the balancing of accounts payable by paying vendors and paying outstanding invoices. It’s a complicated process that requires the right boardroomexpert.org systems to manage. Tom is working to dispel technical jargon to help businesses be able to use technology to boost profits and productivity. He previously worked as film critic and freelance writer in Melbourne and Berlin.