As a fast growing business, it's important to make sure that your auditing process is as painless as possible. This will ensure that you can keep track of your growth and make sure that everything is running smoothly. Here are a few tips on how to take the pain out of auditing:
2. Nascent, or evolving,
systems and
processes
Thorough planning and
evaluation is necessary
to ensure error-free
functioning
Business look at Audits like
Acid Tests, if you ignore 'accounting', pun!
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3. The Flow
Part 1 Rapid Growth
02
Smart Financial Systems
Making Audits Painless
The Improvement
Part 2
Part 3
Part 4
4. Businesses today rely on fast &
accurate information.
Today, systems are available to
answer your questions and
provide clarity on statistical
needs in a matter of seconds.
Rapid Growth
5. Auditors need to up their game to stay
relevant and match pace with the
technological shifts in their industry
Gearing Up
6. Businesses that are readily
investing to grow realize that time
demands them to be wise & enough
to automate business functions for
accuracy & efficiency.
How to achieve fast growth?
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8. Double our active clients base
Implement emerging strategies in advertising
Diversify our portfolio of brands
What is a Financial
system and how does
it help?
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9. Which functions can the Finance Tool Manage?
Comprehensive
Financial
Management
Human Capital
Management
Integrated
Budgeting and
Forecasting
Procurement
Customer
Relationship
Management
Business
Intelligence
Revenue
Management
Global Business
Management
10. 09
• Shortened audits will improve data transparency and
comparability.
• Lesser hours will be billed by the auditors.
• Graphical representation of
Taking the Pain Out of Auditing
12. Working Faster with
Automation
Finance people are working hard to
streamline how they undertake
audits, using automation and
artificial intelligence (AI) tools to
delve through complete datasets
faster.
Spending less time undertaking an audit, then you
and your finance team members will have more
time to concentrate on doing your day job.
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13. Financial systems allow people to cultivate
better results faster
Business have to deal with more
than financial reporting
compliance.
The frequency of auditing is moving towards ‘real-
time’ and the scope is expanding.
14. Double our active clients base.
This is one of our top goals this year.
A key aspect of the finance
function is to be able to provide
the rest of the business with
accurate and timely information
Better strategic and operational
decisions as possible.
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15. Better Financial
Control
Scaleable finance technology -
is a path to stopping audit costs
from rising
Finance Systems - ensure that
your financial records are
accurate and free of fraudulent
transactions.
Real-time data - Allows any
finance personnel provide
accurate data quickly
Legal Drivers - can file accurate
company records and pay the
right tax.
Data Improvement
Ensuring accurate and fast submission of data
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16. If all the aforementioned
opportunities are availed and managed. Then the
Finance department is surely playing its part in
supporting any company's growth.
Such clarity and timely provision then provides
confidence to external & internal stakeholders, as
well as potential lenders and equity holders
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17. Summing it up
The role of finance systems goes beyond audits
Trackability, Sharing Information,
Flagging issues as they arise and
Audits
These can be considered key-elements that can support
any company's growth
18. 19
Finance systems
Coupled with ERP tools
to ensure business
success
Implementing a financial tool
Delivery of Data
Churning the Benefits of quick
informational supply
Consider NetSuite as your finance system
which is easily implemented and
integrates with various business functions
