Financial Management
Financial Management
Financial Management means planning, organizing, directing and controlling the financial activities of the business.
Financial Management - Planning, Budgeting & Forecasting
Planning, budgeting and forecasting (PB&F) are essential for any business. PB&F is a three-step process for determining and detailing the business’ long- and short-term financial goals:
- Planning – outlines the company's financial direction and expectations
- Budgeting – documents overall plan execution month to month, specifying revenue & expenses
- Forecasting – uses historical data and assumptions to predict future financial performance.
Effective PB&F requires looking at the organization as a whole and making strategic decisions that help maintain optimal use of resources. The process is usually managed by the finance team, under the Chief Financial Officer’s (CFO) guidance. KFS works with your team to spearhead financial planning, produce meaningful budget, and forecast future performance.
Management Reporting, KPIs, and Analytics
Executive management needs ongoing, relevant business information in order to steer the company in the right direction. KFS implements effective management reporting by extracting the right information from the organization’s data, creating consistent reporting standards across the organization, and making business information easily available to management. Our projects adhere to an integrated approach comprised of concept, technology and change management. This ensures we achieve consistent, rigorous performance management based on the key performance indicators (KPIs).
Working Capital Optimization & Financing
A business’ working capital amount is driven by its receivables and inventory balances, equipment purchase, and other capital expenditures. KFS works with its clients to reduce the amount of working capital, and to finance the working capital amount that is required.
Streamline and Expedite Monthly Closing
Closing the books quickly gives the business the opportunity to take corrective action as soon as possible. This results in efficiencies and cost savings. It also frees up the accounting team to provide management with better information. KFS expedites the monthly closing process by addressing key issues such as closing procedures, inter departmental communication, and automation.
