02 Jun The Next Best Step to Frictionless Financial Operations
I am a CFO: Why as the CFO am I working late the night before exec meetings struggling to pull together even basic financial and operational reports that I know will get challenged by the other execs?
I am a CEO: It’s always frustrating that before a major decision or board meeting – “My team struggles to pull together even basic financial and operational data in time to help me make decisions based on data that I can trust.”
As an exec team you do not have a consolidated, timely and accurate view of your finances, sales and delivery operations that helps run the business. So, what is your Best Next Step to get to a better place while laying the foundation so we are not struggling with the same issues going forward.
We know our process is poor both within functions like accounting and sales and also across functions.
Pain: Can’t operate or improve if we have poor process within and between functions.
Obstacle: Difficulty consolidating financial and operational information from different systems. Lack ability to easily combine and slice and dice the data.
Solution: Engage a trusted advisor with the knowledge to design and implement your information flow.
Our people work hard but don’t have the knowledge, experience and skills to get us to the next level.
Pain: People lack the knowledge and skill to deliver what we need today let alone what we will need in the future. We and they need help to get them to the next level and we need to get the right people in the right seats.
Obstacle: upskilling or hiring takes time and does not ensure that we will get the results we need.
Solution: Access fractional accounting, operations and systems skills and experience from a trusted advisor.
Our new and even our old systems are capable but are not delivering what we need.
Pain: We can’t improve if we don’t know how to get it done in a timely, low risk approach using the right level of tool at the right cost. I know it’s using the richness of SaaS tools available today.
Obstacle: We lack the expertise to decide if Systems have or lack the capabilities required to deliver what we need today easily and timely let alone what advanced capabilities we will need in the future.
Solution: Align with a trusted advisor in an approach with common objectives to share risk.
Why does company growth plateau or oscillate against a glass ceiling? Why am I staying up till midnight before board meetings trying to pull together even basic RevRec and Reports that I know have inaccuracies and will be challenged by the exec team when I try to make my case for more investment in People, Process and Tools?
What is your Next Best Step?
Conduct a low risk Evaluation. Avoid your people trying to muddle by? Do you or your team have a solid roadmap for your process, people and technology improvements? If not request your FREE EVALUATION today.
Or read the next blog- Mapping Out Your Key Milestones on the Journey to Frictionless Financial Operations