Controlling business and financial operations involves handling every aspect of accounting, budgeting reporting and forecasting. This includes analyzing and recording daily transactions to perform the monthly financial close and compare actual expenses to budgeted amounts, and ensuring compliance with auditing and tax requirements. It also involves developing policies to evaluate creditworthiness, invoicing customers on a regular basis and ensuring timely payment to manage accounts receivable. At a higher level financial management, it helps managers gain insight into their current performance, allowing them to prepare for future investments and build resilient businesses.
The purpose of a financial operations manager is to move cash efficiently through a business, from acquiring raw materials and products for production, to selling the board room expert finished product to customers, after which in balancing accounts receivables by settling vendors and collecting on outstanding invoices. It’s a complicated process that requires the right systems to effectively manage. Tom is a tech expert who helps to decode technical terms so that businesses be able to use technology to increase profits and productivity. He has worked as a film critic and freelance writer in Melbourne and Berlin.
