How to Manage Financial Operations and Business Deals
The management of financial operations, business transactions and budgeting is managing all aspects of reporting, budgeting and forecasting. This involves analyzing and recording daily transactions to perform the monthly financial close and compare actual expenditures to budgeted figures, and ensuring compliance with auditing and tax requirements. Additionally, it involves establishing policies to evaluate creditworthiness, bill customers frequently and collect payments on time to manage accounts payable. On a higher level financial management can help leaders gain insight into current performance, allowing them to plan for future investments and build strong businesses.
The goal of a financial operations manager is to efficiently move cash through a company starting with the acquisition of raw materials and goods for production to selling the finished product to clients, and finally reconciling accounts receivables by paying vendors and settling outstanding invoices. It is a complex cycle that requires the right systems to effectively manage. Tom works to simplify technical jargon so businesses can learn how to harness technology to increase productivity and profits. He was previously an editor of films and a freelance writer in Melbourne and Berlin.
