April 09
A quick guide to the immediate and long-term benefits of devolved accounting
Firstly though, what is it? In fundamental terms it really means extending the responsibility of financial matters beyond the accounting department and introducing a self-service culture when it comes to accessing and/or processing finance-based data. Not only does this reduce the workload for the finance team but it also speeds up the accounting process resulting in greater efficiencies across the organisation.
The guide tackles the following issues:
- Valuable resources are being tied up
- Staff unfamiliar with using finance system
- Slow authorisation and need to go green
- Lack of budgetary control
- Inflexible and slow to react to market changes
- Poor cash-flow and credit control
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