Financial consolidation is one of the most misunderstood topics we get asked about when scoping a planning and reporting solution. So, let’s get back to first principles and understand exactly what is needed because consolidation is a term used loosely by those outside of accounting, but which has a very specific meaning for those of us in finance.
Financial forecasting is what drives and impacts your growth is the intelligence which can put you ahead.
Sometimes smaller organisations can believe the big 'corporates' are cutting edge when it comes to planning. The truth is, many are still existing on spreadsheets like most other businesses.
So here are some top tips on how financial forecasting well can get you ahead, make you more agile and save you valuable time with limited resources.
Get the inside track on financial planning for growth with this free 30-minute webinar featuring unique insights from Adam Coxen and Al Eadie.
This unique webinar is aimed at Finance leaders, FD's and CFO's of growth companies looking for investment and will provide the inside track on forecasting.
This webinar covers both investment round demands and financial planning tools to ensure you can deliver what the company needs at the right time.
Formulate are joining the #CFOdebate at Generation CFO's lively events as proud Technology Sponsor. These premium events feature a lively debate with four leading CFOs, chaired by Christopher Argent, founder of Generation CFO who’s transformation projects include John Lewis, Amazon and Vodafone. The panel will reveal simple changes organisations need to make and where the focus needs to be, to move fast and to remain relevant.
So what do you include in the payback calculation when looking at investment in automation? Commonly investment V returns in savings or added revenue over a period of time.
But it's often the soft intangibles like time savings, improved morale, attracting talent, or better decision making, which are tricky to put numbers against, but payback in spades. This article lists the 5 less common ROI contributing factors, which may not be on your radar when it comes to the decision to invest.
As a software partner we work with our customers, software provider and business partners to build a service which delivers real benefit dealing with all the usual market variables along the way. So we're more than proud of this months milestones, which we've achieved thanks to a great team, the right attitude as well as capability.
It seems spreadsheets are the route of all evil if you believe everything you read today. Much like a difficult toddler they make mistakes, often get unruly and difficult to handle and don't share easily.
Nevertheless we in finance love them. Like offspring we've nurtured the spreadsheet as one of our own. There are times we'd happily scream at them but, like our offspring they have our own stamp running through them. They are tricky to adopt from others, as there are lots of hidden codes to understand and learn so they behave well, and you can build a relationship with them.
So how can we cling to spreadsheets and make them work when all around us are heralding that it's time to let go and move on?
I spent a day with our Delivery manager last week, developing the second phase of our project management system as we recognised we need to keep improving our systems and processes. It got me thinking about the whole continuous improvement conundrum. Let’s face it, change is hard and getting users to change even harder, so it’s no wonder we put off projects which need the mobilising of others.
There are specific challenges which charities and not for profit (NFP's) face when it comes to planning and reporting.
We've worked with enough charity organisations to know that planning by project, the ability to trace multiple funding sources as well as the burden of regulatory and compliance reporting, means charities are struggling with old school tools like Excel, which saps their already limited resources.
We share a new way forward for organisations which need a different way to plan, budget and report.
According to a survey commissioned by Blackline more than 1,100 C-level executives and finance professionals:
71% of C-level executives completely trust the accuracy of their financial data. However, only 38% of finance professionals — the people preparing the statements and reports — share that opinion.
There's is clearly a mismatch between the level of accuracy C suite perceives in the reports they read against that of finance. So we ask does this mean Finance have become expectant of error. Or are there other issues at play?