High Performing Finance Teams — Why you need them, what they do for your business and how to get them.

The Finance function is no longer just about the numbers. All businesses benefit from a high performing Finance Team in-house as trusted, strategic advisers. But traditionally the role of the Finance Departments was is to ensure compliance and that the cash flow was well managed. Finance teams would remain in a silo, separated from the rest of the business, and …

Setting up a Purchase to Pay Process

The Purchase to Pay Process (P2P) is the complete cycle from identifying a need to purchase an item, through selection of supplier, receipt of goods, invoice and payment. It ensures there are the right controls and processes in place to achieve the outcomes an organisation has highlighted as key to them. This could be low cost, best service, longest payment …

So what is a Financial Controller and do I really need one?

We are regularly asked this question, or we get blank looks when we mention Financial Controllers, so what are they? If you Google, “what is a Financial Controller?” this is what you get, be warned, this is a bit dry…: A financial controller is a senior-level executive who acts as the head of accounting, and oversees the preparation of financial …

It all starts here….the value in your Chart of Accounts

So, what is a Chart of Accounts (COA)? In a nutshell, it’s the list of accounts that have been set-up in your Accounting Software to record all the different revenues and costs in your business. A well thought out COA can drive real business benefits, it’s not just a means of recording data. A poorly designed COA can hamper the …