Business grow depends on crunching the numbers (Revenue, expenses, overheads, inventory, sales figures, profit) - all of these numbers are important.
But sometimes it can be tough to place them into the connection. Small business owners & SMEs often have to focus on day-to-day operations, making it hard to see the big picture. After all, if you don't keep a close eye on your business every day, it won't perform at its best.
Yet there are times when you need to step back for a clearer view. If you're thinking of applying for extra financing, or moving into a new market, or even selling your business, you'll need more than just the daily figures.
In fact, the bigger financial picture can be helpful whenever your business is ready for the next stage of growth. That's when you might ask yourself, "What are the steps I need to take today in order to be successful tomorrow?"
Financial management software like Odoo can help here. In that case you should take a look at what it could do for your business.
When your business is at a transition point – for example, when you're applying for funding or raising equity – some figures are more important than others.
Anyone thinking about lending you money or investing in your business will want to know that their money is safe. That means they'll want to take a good look at the financial details, such as:
Historical financial statements, 3-5 year business forecasts, Personal financial statements, Tax returns, Business plan, Commercial collateral (including real estate), Guarantor information
Gathering this information can take weeks or even months for a busy business. And even when you have it all, it still has to be presented in the right way. That's where financial management software comes in.
Financial data can give you useful insights into the way a business is being run. That's why large organizations use financial analysis to help them decide when, where and how to expand.
It's complicated work for big businesses, requiring detailed spreadsheets and powerful software. It's time-consuming, too. But the results can be very useful.
When you analyses your financial data, you learn much more about the way your business is operating now. This can tell you where there's room for growth and improvement, and where you should cut back or redeploy some resources.
Many big businesses became that way because they made good decisions on how to manage their growth. And those decisions were based on the right financial information & systems. Time for you to take a leap and with most powerful financial solution that many loves and using it across the world.
Singo Africa Limited would be happy to help you on your investment when considering buying and/or implementing an Financial management Solution, we can help you from analysis, vendor selection, implementation (project management) as well as Benefit realization(ROI) and you will never regret working with us.