A Financial Management System (FMS) includes budgeting, expense tracking, risk management, financial reporting, asset management, audit trails, compliance management, and cash flow management. It maximizes earnings, ensures sustainability, and supports both daily financial operations and long-term business goals.
Why do you need a new system because of the weaknesses in the existing system?
- Lack of proper planning.
- Unfavorable input-output ratio.
- Cost of capital.
- Problem of pricing.
- Problem of surpluses.
- Problem of raising loans.
- Problem of budgeting.
- Problem of delegation of authority.
- Role and responsibilities of financial advisor.
- Problem of inventory holdings.
- Problem of calling Reports.
- Problem of performance.
Who Need?
- Businesses and Corporations.
- Financial Institutions.
- Accounting Firms.
- Government Agencies.
- Nonprofit Organizations.
- Educational Institutions.
- Healthcare Organizations.
- Small and Medium Enterprises (SMEs).
- Individuals managing personal finances.
- Investors and Traders.
Objectives
- Profit Maximization.
- Wealth Maximization.
- Maintenance of Liquidity.
- Proper Estimation of Financial Requirements.
- Proper Mobilization.
- Proper Utilization of Financial Resources.
- Improved Efficiency.
- Meeting Financial Commitments with Creditors.
- Tracking liquidity and cash flow.
- Ensuring compliance.
- Manage relationships.
Key Features
- Management of general accounting procedures.
- Management of expense.
- Manage the budget.
- Efficient management of time and work.
- Advanced reporting.
- Ensure data security.
- Reduced paperwork.
- Complete Audit.
- Data Integrity.
Benefits
- Streamlined accounting and financial processes.
- Real-time access to financial and unrelated data.
- Managers can now promptly reach data-driven decisions.
- Enhanced operational effectiveness increases the output of the finance team.
- Ability to optimize daily, monthly, and yearly cash flow through simplified invoicing and bill collecting.
- Improved adherence to accounting norms.
- Faster reconciliation processing.
- More improved data security.
- Cloud-based central storage that is accessible at any time and from anywhere.
- Easy predicting and analysis.
- Improved communication between financial staff in various regions.
- Preserve audit trails.
- Improve your planning and budgeting.
- Boost your financial reporting's accuracy.
- Lower costs for complying with regulations.
- More precise financial projections.
- Improved management of the accounts payable process.
Devices of use
- Computers.
- Smartphones.
- Tablets.
Achievements
- Developing financial scenarios.
- Increase efficiency.
- Maintaining proper cash flow.
- Survival of the company.
- Reduce the cost of capital.
- Reduce operating risks.
- Prepare the capital structure.
