The new year is here. Most of us begin it with a personal resolution to change for the better or achieve something greater – whether it’s to lose weight, save more money or travel to another country.
So why not start 2021 on the right foot for your company? Here are resolutions for finance officers that we think you can actually achieve.
Resolution #1 – Stay agile.
Organizations are operating in unprecedented times. New compliance regulations emerge every year; the pandemic has forced different operating and work styles. Cyber threats are becoming more advanced and persistent, and the market is becoming even more competitive, forcing every organization to evolve digitally. This year should be the year to enable your business to pivot quickly as necessary.
Resolution #2 – Get better visibility.
Day to day financial and operational decisions can be quickly and confidently made when you have the technology in place to access, analyze and understand your data. 2021 should be the year to cultivate a data-driven culture in your organization so you can stay on top of your business’ progress and action any red flags that you encounter along the way.
Resolution #3 – Monitor inventory.
Constant cash flow is mandatory for any organization engaging in the retail, warehousing or manufacturing industries. Its success relies heavily on stock movement. This year, make it your resolution to monitor your fast-moving and slow-moving stocks. How fast you move your inventory will result in either the downfall or success of your business.
Resolution #4 – Remove disconnected systems.
System silos strain business growth, hinder increased productivity, as well as limit and complicate reporting. This is the year to aim for a fully integrated system to help you eliminate manual processes, automate workflows, make smarter decisions, and streamline your operations.
Resolution #5 – Seek expert guidance.
Consider consulting with expert ERP software implementors to help you achieve your New Year’s resolution, such as Systema Solutions. As a third-party provider with decades of experience and fresh pair of eyes to look at your business processes, we can help you spot process improvements quicker.
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If you need assistance with achieving our recommended 2021 New Year's Resolution above, let us know by leaving a comment below or dropping us a line here.