The management of business and financial transactions involves managing all aspects of budgeting, accounting, reporting and forecasting. This includes everything from daily transactions that are recorded and analyzed to make the monthly financial close, which enables you to compare the actual expenses to budgeted figures and ensure the compliance with audit and tax requirements. It also involves developing policies to evaluate the creditworthiness of customers, invoicing them on a regular basis and ensuring timely payment to manage accounts receivable. Financial management is a way for leaders to understand their current performance and make plans for future investments.

The purpose of the financial operations management process is to efficiently move cash through a business starting with the acquisition of raw materials and products for production to selling the final product to clients, and finally the balance of accounts receivables is achieved by paying vendors and collecting on outstanding invoices. It’s a long and intricate process that requires the right system to effectively manage. Tom dispels technical terms to assist businesses to understand how technology can be used to increase productivity and manage financial operations and business deals profits. He was a freelance writer and film critic in Melbourne and Berlin.