When planning to improve your business, you must start right from the finance department. If the financial department is precise in terms of functioning, then it becomes very easy for the business to flourish. Some companies have specific finance departments while others find it more beneficial to outsource financial services for various reasons. The services offered by financial professionals are actually comprehensive and often vary from one company to the other.
The financial management is nothing but the planning, monitoring, directing, controlling and organizing of the monetary resources of an organization. Financial Management is not something that you should think about only when filing and preparing tax. It is a continuous process of understanding and tracking how your business is performing on a regular basis. Some businesses require a more recurrent review based on its size while on the other hand few companies require the management on daily basis. To prevent your business from becoming an unsuccessful one, get a financial management procedure done.
Listed below are the things that are included in the financial management:
- Developing a budget: This should include the projected revenue and expenses and cash inflows and outflows.
- Maintaining current accounting and bookkeeping records: Financial management maintains current accounting and bookkeeping records to keep you well-informed of your finance.
- Maintaining a comprehensive and precise audit trail
- Balancing multiple bank accounts
- Organizing expense statements, balance sheets and income statements
- Ensuring data integrity and security
A professional finance manager not only plans, obtains and uses the funds but he or she also has to implement control over money. This is usually done through several techniques such as financial forecasting, cost and profit control, ratio analysis, etc. Dessa Bokides has been a part of this industry for more than a decade now and has assisted her clients to develop a proper financial planning and management. She says that financial management is a big part of a running a business and it is likely to determine your long term accomplishment.
Dessa is working as Chief Financial Officer at DFC Global Corp. which offers a range of original financial solutions online and via its retail locations. The company aims to fulfill continuously their commitment to meet the requirements of business owners and consumers in the most generally accountable way. Prior to working with DFC Global Corp. Dessa Bokides has been associated with a large ,number of enterprises such as:
- Alta Colleges
- Galileo Global Education
- Ally Bank
- Pitney Bowes
- Deutsche Bank
- Goldman Sachs
Apart from having experience in Finance, she has vast skills in mergers and Acquisitions, Strategy development and leadership. She is a graduate from Colorado College, and has obtained her MBA degree in Finance from Columbia University. Dessa has received a number of awards and recognition for her contribution in the field of financial management.
As a financial expert, she gives you advice based on specific industry and business as every business is unique and has its own strengths and weakness.