- Financial analysis
- Financial Policies & Procedures
- Financial Systems (Stand-alone & ERP)
Financial services are the economic services provided by the finance industry, which encompasses a broad range of organizations that manage money, including, accountancy companies, consumer companies, stock brokerages, investment funds, real estate funds and some government sponsored enterprises.
Financial analyst, securities analyst, research analyst, equity analyst, or investment analyst is a person who performs financial analysis for external or internal clients as a core part of the job.
Which financial policies and procedures should I have?
Think about areas of importance to your business where policies and procedures would add value. Use our financial policy and procedure manual template as a starting point.
Authorizations e.g. which job roles are allowed to authorize various activities within the business?
bank accounts e.g. when and how new bank accounts are opened
new suppliers and how to choose them
new customers and how to manage them
buying and purchasing e.g. how to determine when stock, equipment and assets need to be purchased
Insurance and risk management.
Why use a policy and procedure manual?
This financial policy and procedure manual is for the small business operator and their employees.
The main benefits to having this policy and procedure manual:
ensures all staff are aware of obligations in relation to finance transactions within the business
is a proven way to help your managers and supervisors make consistent and reliable decisions
helps give each employee a clear understanding as to what you expect and allow.
It takes some effort to complete, but brings definite long-term benefits, reduces disputes, and adds to the professionalism of your business.
ERP (Enterprise Resource Planning)
ERP (enterprise resource planning) is an industry term for the broad set of activities that helps a business manage the important parts of its business.
An important goal of ERP is to facilitate the flow of information so business decisions can be data-driven. ERP software suites are built to collect and organize data from various levels of an organization to provide management with insight into key performance indicators (KPIs) in real time.
ERP software modules can help an organization’s administrators monitor and manage supply chain, procurement, inventory, finance, product life cycle, projects, human resources and other mission-critical components of a business through a series of interconnected executive dashboards. In order for an ERP software deployment to be useful, however, it needs to be integrated with other software systems the organization uses. For this reason, deployment of a new ERP system in-house can involve considerable business process re engineering, employee retraining and back-end information technology (IT) support for database integration, data analytics and ad hoc reporting.
An ERP implementation that uses both on-premises ERP software and cloud ERP services is called two-tiered ERP.