Financial Management
Tech companies with excellent financial management achieve better outcomes.
Good financial management is key to the performance of enterprises. OFM Solutions will provide your firm with best of breed financial management practises, report and advisory making it easier to attract funding, communicate with investors and to meet the ongoing demands and compliance requirements.
Components of Good Financial Management
Financial Reporting
The ongoing provision of accurate, comprehensive and timely financial reporting of the key business and financial metrics and the follow-up of actions arising from the review of these metrics.
Accounting Controls
The application of sufficiently qualified resources in maintaining accurate and complete financial &
accounting records in support of the financial reporting function.
The existence of sufficiently distributed authorities and controls regarding 3rds party invoice approvals, beneficiary creation and payment execution.
Communication
Brief, effective but regular Finance Ops calls are important for ensuring ongoing financial management issues are discussed and dealt with in the most appropriate manner and with appropriate discussion and follow-up.
Cash Management
The planning for expected cash inflows and outflows over the short to medium term is effective for understanding the cashflow cycle and for identifying periods when cash will be tight and, thereby, allows for alleviating actions to be implemented.
Budgeting & Financial Planning
The importance of planning cannot be overstated. Financial planning in an organised and deliberate way can provide a proper structure to your thoughts and plans and helps articulate these plans in financial terms in a coherent way.