Get Shift Done: Management
If your accounting department is still seen as a back-office expense, one you pay for because well, you have to, then you’ve missed out on one of the biggest business shifts in recent years: accounting’s rise as a true strategic partner.
The finance and accounting function is shifting from the back room to the boardroom. A lot of this motion has been fueled by the ongoing development of online reporting tools which offer true real-time reporting visibility that enables sound strategic decision-making.
These powerful tools enable business leaders to identify both opportunities and risks in new ways. In turn, accounting and finance leaders have become both partners and advisors, capable of taking on a larger strategic role.
Solutions such as Xero, QBO and Intacct offer robust features to both SMBs and large businesses. These tools offer real-time information, business intelligence and insights, that can help increase productivity, enable more seamless reporting, streamline team and external stakeholder collaboration, and improve processes and financial performance and agility.
Most importantly, you can can easily tailor this information to the role of the person viewing it.
- The Chief Marketing Officer (CMO) can have a daily at-a-glance product or service revenue by customer;
- The Chief Operating Officer (COO) can view summary and detail income and expense accounts by department; and
- The Chief Executive Officer (CEO) can access high-level quarterly cash flow statements, income statements and balance sheets.
This functionality allows the accounting and finance department to report more than just numbers. It transforms those numbers into meaningful information and enables finance leaders to partner in success, create opportunities, champion progress and innovation, and help elevate their team as idea generators.
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