Financial Process Development
In any organization, the financial department holds an enormous amount of responsibility and often takes the fall in the case of an unfavorable project outcome. Finance departments handle reporting, authorizations and approvals and manage complex budgets. In all of these process areas, they take full responsibility for the preparation, consolidation, storage and delivery of valuable financial data. When this data is ambiguous or poorly presented, company executives are ill-prepared to make important decisions.
A well-oiled financial department has smooth and streamlined processes and clearly-defined accountability. When problems arise, these processes ensure that management knows exactly where to apply a fix.