June 26, 2018 10:05 am | by Linda
A new financial year can be a perfect time for making changes in your business. You can use this time to improve the efficiency by implementing a new ERP/CRM/DMS such as SapphireOne.
The vast majority of organisations and businesses are running various applications. Examples include using spreadsheets for budgeting, separate databases for tracking contacts, and inventory managements systems that are not linked adequately. They are often running separate Payroll and human resource (HR) systems and not linked to their financial date. This makes it difficult to manage people in your organisation or business.
It is essential that in today’s demanding business environment that we obtain a single point of truth. This relates to the organisation and business data requirements. SapphireOne ERP,CRM,DMS application shines in this area.
SapphireOne ERP,CRM,DMS works with your accountant or financial advisor. The system will compile all your financial statements and end of financial year reports. Once this is completed, it is an extremely simple process to copy last year’s actuals. These are for your general ledger and placed into the budget for the coming financial year.
Improve your business performance this financial year with SapphireOne
When reviewing your business financial data, SapphireOne’s integrates general ledger budgeting. There is the ability to store multiple budgets, per general ledger. This allows you to copy those budgets to revised budgets if required. This puts you in a perfect position to review your business performance and make strategic decisions to help your business be more profitable and grow.
Improve your Profit and Sales performance
SapphireOne ERP has Dashboards, also called Business Intelligences (BI) or Key Performance Indicator (KPI) Dashboards. These present business statistics and performance indicators in a visually attractive and graphically intuitive interface. The dashboards utilises graphs, bar charts and other visually engaging design elements that provide a succinct overview of a business’s financial standings. This is where you can quickly and visually view the profitability, sales performance and cash flow. This will ensure your overall business performance improves.
SapphireOne can help you to draw insights from the current financial and cash flow position, review your client’s performance in the past year which will facilitate you to support your client in mapping out their business goals for the next 12 months.
For a sneak peek at the full capabilities ERP, CRM, Accounting Software, Human Resources, Payroll, Assets and Document Management, check out SapphireOne and request a live demo, it is everything you’ll ever need to make your company management a success. Know more about us.
April 23, 2018 5:29 pm | by Loren
The most important tips for Financial Controllers in any Organisation
Reconciling your bank accounts is a vital part of your daily routine and forms best practise in any organisation. Why is it important to reconcile on a daily basis? because it gives the organisation their current cash position. It is essential that an electronic copy of all past reconciliations performed are retained for control and audit purposes.
The three most important financial reports in any organisation are Trial Balance, Income Statement/Profit & Loss and Balance Sheet. The purpose of a trial balance is to prove that the value of all the debit value balances equal the total of all the credit value balances.
Income statements will help the Financial Controller determine the past financial performance of the enterprise, predict future performance, and assess the capability of generating future cash flows through report of the income and expenses. A balance sheet summarises an organisation or individual’s assets, equity and liabilities at a specific point in time.
Workflow rules allow the setting up, performing, and monitoring of a defined sequence of processes and tasks, with the broad goals of increasing productivity, reducing costs, becoming more agile, and improving information exchange within an organisation. Having the ability to set definable limits based on predefined values at a transactional level, an automated process that the appropriate person within an organisation are notified when approvals are required.
Identifying the prospect, capturing the initial contact details is the first step in the sales pipeline. When planning for the potential sale it is important to have a structured approach. When you have assessed the potential clients needs and objectives, you can then gain a commitment. Then following up is essential to close the sale and keep the customer engaged for future sales
Contact Relationship Management is an approach to manage a company’s interaction with current and potential customers, Vendors, Projects, employees and assets. It uses data analysis of the contact’s history with a company, to improve business relationships, specifically focusing on contact retention.
The CRM compiles all the data from a range of different forms of communication, including a company’s website, telephone and emails etc. CRM allows a single repository for all contact data and facilitates better relationships within financial controllers.
Absence of accounting means an absence of accountability. Accountability cannot exist without proper accounting practices. User logging is essential to ensure everyone is accountable for their own actions.
The batching of transactions gives the final control to a supervisor, to verify those transactions are true and accurate before they are posted to the general ledger. Looking to boost your financial management potential with a Dashboard equipped ERP, feel free to contact us or request a live demo.
Read testimonial – https://www.sapphireone.com/testimonials/financial-reports