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The term Management Dashboard defines a wide range of data reporting and visualization tools or dashboards that allow using various performance & efficiency measures to report on an enterprise’s ability to organize and coordinate its activities in accordance with certain policies and in achievement of pre-determined objectives. What is a Management Dashboard?
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Home » Solutions » For Departments » Finance department
Finance department  

Finance department

How to improve finance department productivity
in 3 minutes
How to improve finance department productivity  with VIP Task Manager Professional

Finance department overview

Most companies have Finance department in their organization structure. Finance department is responsible for the financial administration and management of the company in compliance with the financial rules and the financial guidelines acting in this company. Finance department concerns finance flow management of the company and is aimed to serving staff, managers, the Board of Directors and stakeholders and securing the financial health of the company.

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Finance department goal and services
The main goal of The Department is to provide the internal and external users of financial statements with relevant, accurate and timely information and to guarantee that the required financial revision is closely adhered to in order to protect the assets of the company. The Department takes care of finance flow to ensure that the company operates within its financial regulations and satisfies various external financial requirements. It also ensures that the corporate financial records comply with internal and external audit. If to look through the activity of The Department, there can be picked out the following main services it renders:

  • Payment of invoices and expenses
  • Income collection and salary management
  • Production and assignment of budgets, capital plans, and cash flow forecasts
  • Monitoring and managing financial plans
  • Auditing and reporting on business condition
  • Giving advice on pricing and costing

Finance department in company structure

The Department plays an important role in the company and the relations between organizational units. It is closely cooperate with such company's divisions as Sales Department, Administration, Warehouse, Deliveries, and Marketing Department in the fields of payments, audit, revision, account and cash flow.  The effective collaboration is the guarantee that all payments, accounts and deposits will be processed, covered and closed out.  This is important as proper organization of the finance system inside the company brings the positive and fundamental effect to the company's competitiveness, demand and reputation.

Software for managing tasks in Finance department

To organize stable working process and activities in Finance department, there should be implemented a computer system. Such a system can be software application that allows to manage, track and report all activities within Finance Department. CentriQS is designed for such a purpose. CentriQS is a kind of business management software that lets create common database which includes tasks, to-do lists and schedules of the financial staff. The department manager can watch all financial operations and related tasks.

CentriQS shareware provides the manager with sharing and monitoring information capabilities inside the database. If needed, the company can use CentriQS as a system to track financial analytics by Accounts Payable and Accounts Receivable.

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