10 Ways an Effective Financial Management System Facilitates Growth
1. 10 Ways
an Effective Financial
Management Solution
Facilitates Growth
The Essentials of an Effective Financial Management Solution
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2. Strong financial control is no
longer an optional extra
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BlueBridge One is a leader
in deploying NetSuite cloud-based
ERP, CRM and
Financials solutions that
integrate the diverse range
of activities across many of
today's businesses
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Financial management across every
department needs to be buttoned
down and integrated to prevent
inefficiency denting the bottom line
and stifling growth.
In this slide deck we give an overview
of some of the key features and
benefits of a financial management
solution that enables control and
intelligence for businesses, including
wholesale distribution, manufacturing
and professional services companies.
3. Cash Flow Management is critical to growth and important
factors here include identifying Recurring Revenue, Revenue
Recognition Management and real-time visibility
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1. Core Financial
Management Capabilities
Accounting Functionality needs to be comprehensive and provide
scalability to accommodate growth, and flexibility to adapt to
needs such as independent closing and international subsidiaries
Financial Planning and
Reporting supports
accurate and timely
decision making and is
essential for meeting
compliance and
regulatory standards
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2. Integrated Inventory
Management,
Fullfilment & Shipping
Inventory management is
essential for preventing excess
inventory pushing up the cost of
goods sold (COGS)
Good inventory management
means keeping track of bin and lot
management, landed cost,
demand based replenishment,
customer and volume pricing, and
multi-location inventory
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Integrating fulfilment and shipping
eliminates manual re-entry and
order processing errors, while
reducing annual shipping costs by
up to 35%
5. • A single, fully integrated solution avoids the significant overheads of buying, maintaining and
• A cloud-based financial management solution not only eliminates the need for multiple
applications, it removes the need for in-house resources, including IT infrastructure and does
not increase the workload on IT personnel
• Cost reduction typically ranges from 20% to 50% and productivity in other areas such as the
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3. Low Total
Cost of
Ownership
and Superior
Ease of Use
operating several disconnected on-premise applications
sales channel may increase three-fold
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6. 4. A Streamlined
Order-to-Cash Process
An efficient Order-to-Cash process ensures profits
grow in line with expectation and demand
An efficient Order-to-Cash system means customer
and order data is only keyed once and then
populated throughout the system to achieve
fulfilment and back end accounting, including sales
commission calculations
A well-executed Order-to-Cash process leverages
greater economy of scale reducing the cost of
sales as growth gathers momentum
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7. As Order-to-Cash simplifies life for sales ledger,
Procure-to-Pay eases purchase ledger and
means supplier and purchase order data is only
keyed once, eliminating errors and saving time
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5. Procure to Pay
Processes
Procure-to-Pay integrates buying activity
and enables inventory and investment
purchasing that supports growth to be
properly accounted against cost centre
Purchase
order
automa.on
enables
automa.c
re-‐ordering
once
stock
levels
reach
a
pre-‐determined
trigger
point,
op.mising
inventory
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6. HR Process
Management
The efficient hand-off of HR information to finance reduces
errors and saves time across the process that ensures salaries,
deductions, holidays and sickness are correctly calculated
Payroll integration ensures earnings, deductions, company
contributions and taxes are automatically worked out and that
tax reporting is easily obtained
Enabling employee self-service allows data changes made by
staff to be automatically captured and reconciled to the
system, reducing administrative time soak and costs
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7. Business
Intelligence
1. An integrated financial solution across the business is
the foundation that releases true business intelligence
2. Customised dashboards tailored to the role of each
member of the finance team provides insight into key
performance indicators
3. Dashboards are real-time and based on a central
repository of data, eliminating inconsistencies and
inefficiency while saving time when compared with
manual, spreadsheet based BI processes
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10. 8. Multi-Company and Global
Business Management
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A good solution for international
operations also eliminates the
cost and complexity that results
from currency conversion and
daily variations in FOREX rates
Sustaining growth may mean an
expansion into new international
territories and a solution purpose
built for the needs of a multi-country
business vastly simplifies
cross border operations
Legal and tax compliance and
integrated VAT or other local
sales tax functionality increases
accuracy while eliminating the
need for manual, error prone
processes and costs
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9. Adaptability to
specific business
models
• Even within the same sector, no two businesses have
identical needs and cloud-based solutions need to be as
adaptable, flexible and configurable as possible
• The financial management solution needs to be able to
address the unique needs of each individual business
• Flexible workflow management enables companies in
different sectors to align the solution with the varying
needs of their business models
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12. 2 3
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10. Project Accounting and
Contracts Management
1
Central to simplifying this is
a good project to bill process
that identifies when
deliverables have been
completed and request for
payment can be initiated
Companies providing
project or contract based
services probably have
the most complex
business models, creating
problems for finance
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A fully integrated project
to bill process responds in
real-time optimising billing
and automating payment
schedules required for
multi-staged projects
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Summary
• A truly integrated financial management system centralises
financial control and efficiency, maximising profitability
• Integration brings together, simplifies and automates
business processes, improves accuracy and delivers
intelligence while allowing your staff to perform their jobs
much quicker
• An adaptable, cloud-based solution rich in business
planning, system integration and reporting capabilities best
facilitates business growth
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Find out more about BlueBridge One
Visit us at www.bluebridgeone.com or call 08008 620 243 to find out how we deliver
the benefits of NetSuite to UK companies that demand service and support appropriate to
the pivotal role ERP, CRM and Financials play in their businesses.
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Download the full paper
Find out more by downloading the full white paper at:
http://www.bluebridgeone.com/s.nl/it.I/id.117/.f
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