Financial and Accounting systems.

Is it time to move away from paper to the latest financial systems?

Never underestimate the power of information. The number of times that I have been in organisations where they have lacked the basic information that would have helped them to make decisions is countless.

Many of the information that we need can even be free, but even when they are not, it is an essential part of running either your business or your private lives, so take such decisions seriously and invest in them. Not only do you need to computerise your system, but update them, make sure they are online and they are secure.

Data helps to make decisions and gone are the days when we make decisions on gut feelings alone, these days, you need to make them based on very sophisticated systems. Did you remember the case of Cambridge Analytical boasting that they helped Donald Trump to win the US elections by targeting the right group of people with the right messages. The same for all the decisions some of the best companies make, this may even include the history of your clients. Do banks in Africa have a database of clients who default payments? If they don’t, then you can see why so many of them are in serious trouble because defaulters don’t just default once, they do it regularly. Same with your company, you need customers who will pay and pay on time, if you don’t have the data, then you run the risk of being out of business.

There are so many apps and finance software that you can get for very little, so take advantage and use data to make decisions.

127 thoughts on “Financial and Accounting systems.

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