Still claiming expenses via paper, spreadsheet, out-dated legacy or in-house system? Isn’t it time to look back on such traditional ways with nostalgia because here are 10 reasons why expense management should be automated right away, you don’t need to even be that big a corporation as the benefits are hard to ignore.
Blog Topics: Financial Accounting Management Software
The management of Employee Expenses has become one of the top corporate governance items in the wake of the many scandals making headline news.
Recent legislation focuses on what employees spend and why, so keeping clear, accurate and detailed records plays a critical part in order to handle any future audit of compliance or taxation authorities successfully.
With these reasons in mind, choosing an expense management system becomes important to ensure that the policies and record keeping are well managed. Here are the Top 5 most useful ways a company can manage employee expenses, based on feedback from companies using Systems@work.
Blog Topics: Financial Accounting Management Software
McKinsey in a recent research reports that while 75 million people cannot have a job, yet many businesses have vacancies that cannot be filled, and that there is a gap between the current workforce’s skills and what employers want from employees. Especially in the finance and accounting world, where people need accuracy, concentration and speed, it is even harder for organisation to recruit and retain talents.
Blog Topics: Financial Accounting Management Software
Having a comprehensive system will enable top managers to manage human resources especially in financial and accounting aspects more effectively in the most effective way to compete globally. Today, we’ll discuss further on 3 among 6 basic ways to use technology to shape up finance talent strategies and increase financial performance.
Blog Topics: Financial Accounting Management Software
Jack Welch, former Chairman at GE once said: “The budgeting process…sucks the energy, time, fun, and big dream out of an organization”. Yes, everyone hates it! If there is an effective way to do it without trying too hard will you take its advantages to grow? What you need is just a good planning and budgeting process and the right technology!
Blog Topics: Planning and Budgeting, CFOs, Financial consolidation, planning and reporting, Financial Accounting Management Software
Chief Financial Officers, or CFOs, have been commonly known as a corporate officer who’s responsible for managing the organisation’s financial risk, financial planning and reporting to higher management board. However, in this new era, the role of CFO is no longer limited to the tasks above. As stated in a recent study by Accenture, 70% of correlation is found between high-performing financial departments and high-performing companies. This means the CFOs’ responsibility has evolved. Additional research also indicated that CFOs’ responsibilities have been changed from being a rear-view mirror perspective provider to a strategic advisor who navigates the business through hard times and shapes the company’s direction.
Blog Topics: CFOs, Financial Accounting Management Software, Technology trends
In two previous posts, we have discussed some issues with annual reports and financial reviews of companies in Vietnam. What can be done to improve them? Preparing a financial report is an art that requires authenticity rather than a motive to polish a company’s image.
Blog Topics: Financial consolidation, planning and reporting, Financial Accounting Management Software
Financial management software is becoming an increasingly important part of every organisation. It helps companies to manage and understand their business deeper from accounting to project management and strategic planning. When the financial management system malfunctions, the consequences will negatively affect the profitability and the success of the organisation.
Blog Topics: Financial Accounting Management Software
Accounts payable automation, workflow, and e-invoicing have long been a solution for common AP problems due to human errors. Despite the fact that AP automation can improve accounts payable and financial management significantly, many companies are still applying for manual entry.
Blog Topics: Financial Accounting Management Software
Many companies, especially ones in retailing industry—where accounts payable (AP) transactions with sellers and suppliers are significantly critical—have been investing in e-invoicing and accounts payable automation as a proactive approach to address those AP problems caused by traditional manual entry.
Blog Topics: Financial Accounting Management Software
Rick Yvanovich
/Founder & CEO/
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