The lack of commercial energy price caps has caused many organisations to face difficult business decisions – decisions that are frequently made with information provided by finance teams. Presenting this information accurately, using real-time, relevant financial data, could mean the difference between making excellent, or totally detrimental, organisational decisions. The right technological tools, such as ‘Designed for Cloud’ accounting solutions, can provide these vital capabilities that will transform finance departments and drive resilient growth within organisations in 2023 and beyond.
Finding alternatives to fossil fuels and committing to net zero is essential, not only to navigating global market price fluctuations but also addressing climate change head-on. Although it may seem impossible for finance teams to affect these large sustainability issues, small changes can amount to having a big impact on the social and ecological journey of an organisation. Upgrading your finance system with powerful reporting tools, in order to provide financial evidence to support sustainable organisational changes, could be the catalyst for greener decision-making within organisations in the years to come.
Feeling the increasing pressure of inflation and with a potential recession looming, organisations are right to feel concerned about the future, especially as these issues could have severe implications for their cash flow and overall financial stability. For this reason, finance teams will need to enhance their management and monitoring of every aspect of their organisation’s accounts, in order to sidestep unnecessary spending or unexpected costs. This is where the latest Cloud technology could, once again, support organisations in the new year. In particular, finance, accounting and ERP solutions that are ‘Designed for the Cloud’ offer organisations the benefit of real-time data, powerful reporting, SmartAI and automation that can transform the effectiveness of finance departments, and enhance their ability to support their organisation through economic unpredictability.