To succeed in today's global market, accounting personnel in organisations need to undergo a paradigm shift – from being just funnels for information and administrative book-keeping functions to an analyst of both the market and what your organisation should be telling the market, providing the right information, based on a thorough understanding of the financial triggers that can hit your organisation, to the right people at the right time, so facilitating intelligent management decisions.
With growing concerns over corporate governance and cut throat competition, your accounting personnel should be providing timely information and the information you need most is related to forecasting and comprehensive business analysis that helps your management decisions. However, everyone takes for granted that the accounting personnel's primary function is to provide basic accounting information, financial reporting and budgetary control. While these remain important, are these functions helping your organisation to stay competitive and survive in today's fast paced business environment?
Your senior financial and accounting personnel should no longer be confined to the back office operations. By focusing on the commercial aspects, your senior financial and accounting personnel can play a strategic role in operations and marketing to advance the fortunes of your organisation. Discerning senior financial and accounting personnel is the beacon that guides effort to gold. In this regard, your senior financial and accounting personnel have a vital role.