5 Tips for Healthy Financial Management – Part 3
This is the third post in our five-part series “5 Tips for Healthy Financial Management” which is focused on the importance of utilizing a proven financial management system to run a better business.
We previously discussed how the right tools and access to the right information improves everyone’s performance and how you can make data work to make the most of your money. Today, we’ll look at the tools for tracking and managing the ever-important cash-flow.
Cash is King, Get the Most Out of Every Dollar
After the downturns and instabilities of recent years, it’s easy to understand why every business is a little cash-obsessed. Whether you’re saving for a rainy day or doing accounting gymnastics to stretch your thin reserves, your finance department is not alone in making every dollar work as hard as it can.
Microsoft Dynamics ERP gives you the tools to track and manage your cash. A cash-flow calendar lets you look back or look ahead to see how your funds flow in and out of your business — simply by selecting a given day, week or month. Bank reconciliation tools give you a clear look at your actual cash on hand as well as all your deposits and debits across all your bank accounts.
And, by partnering with Conexus SG for your implementation, you’ll get reporting tailored to how you work, and training for every level of employee to make sure you wring every piece of data out of your system.
You can also track collections to keep tabs on accounts receivable and make sure you’re getting paid as quickly as possible. A simple, out-of-the-box report pulls a list of customers whose balances are over a threshold you choose, allowing you to prioritize and evaluate their history to see if the balance issue is a one-time occurrence or a trend you need to address. And with a direct connection to Microsoft Outlook, you can take care of issues right away by sending a simple email. Need more reporting? Conexus SG experts can help to build custom dashboards to give your people fingertip access to the reports that are important to their role.
In the meantime, you can learn more financial management tips by taking a test drive, registering for an upcoming webcast, or talking to us. Contact Conexus SG at 469-828-3274 or via email at firstname.lastname@example.org, to get started today. We can show you how to get the information you need to power your business.