How to Manage Financial Operations and Business Deals
Controlling the financial operations, business deals and budgeting involves managing all aspects of budgeting, reporting and forecasting. This involves recording and analyzing daily transactions to perform the monthly financial close and compare actual expenditures to budgeted amount, and ensure compliance with tax and auditing requirements. Additionally, it involves developing policies for evaluating creditworthiness, invoicing customers on a regular basis and ensuring timely payment to manage accounts receivable. Financial management is a way for executives to analyze their performance in the present and plan for future investments.
The aim of a financial operations manager is to move cash efficiently through a business, from acquiring raw materials and items for production to selling the final product to clients, and finally reconciling accounts receivables by paying vendors and collecting on outstanding invoices. It’s a complicated process that requires the right system to manage. Tom works to demystify technical jargon to help businesses comprehend how to leverage technology to boost productivity and profits. He worked as an independent writer and film critic in Melbourne and Berlin.