This blog was originally posted by Sage Intacct
Cash is still the leading factor for business growth, which means it can also present a serious risk when it is misallocated. CFOs today need to prioritize timely, accurate and highly detailed reporting on cash flow and related metrics if they expect to achieve meaningful growth.
There are many consequences to not having the right information. Here are just a few examples:
1. It may prevent businesses from getting financing.
2. Future assumptions may be thrown off course if information is not accurate.
3. Over calculating profits and under calculating spending can lead to inadvertent overspending.
Unfortunately, CFOs are not finding the time, talent or resources to achieve these goals - 89 percent of finance chiefs said their companies are not taking advantage of cash inflows to increase their net present value. In other words, they aren't able to do the work that actually adds value to the business.
To make the decisions that move the needle, strategic CFOs rely on a combination of advanced technology, talented people who can fully utilize it, and a dose of something much harder to measure: confidence.
That is where Finance as a Service comes in. Read blog here.