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What separates a good finance department from a truly great one? In a word: confidence. Confidence in the accuracy of reported numbers. Confidence that you could withstand any audit. Confidence that you can close in five days or less. “Five days?!” you ask. Yes. That’s the benchmark for top-performing companies. And many are even faster. […]

The buzzword on everyone’s lips these days is “digital transformation.” It all sounds very fancy and abstract. In reality, the digitalization of financial data, routines and systems is a highly practical way for finance departments to shift their focus from being producers of financial data to taking on more strategic roles. It means freeing up […]

Nowadays, Microsoft Excel has become an essential tool for any financial professional. The financial equivalent of a Swiss Army knife, it can perform an impressive array of calculations, graphics and other tasks. But here’s a question: Have you ever tried to drill a hole with a Swiss Army knife?  This is the problem many financial […]

CFOs want swifter and more accurate reconciliations, reduced risks and costs, better compliance (with clear audit trail) and more time to focus on analysis. This all sounds very good, but. . .   There is a big bottleneck  Their finance departments continue to rely on the same manual or semi-automated controls that result in labour […]

Bank reconciliation is an important monthly task for any accounts department. It compares your general ledger against your bank statement to check for any irregularities or overcharges and provides businesses a good financial oversight from month to month. An important function of the bank reconciliation statement is to look for any missing money, therefore it […]

Congratulations, you got the top job. But how will you make your mark? Take these three important steps to create a positive impact as Financial Director. 1. Communicate You’ve risen up through the ranks, not just because of your numerical skills, but because of your way with people. You want your department to know that […]