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5 RULES OF SOUND FINANCIAL MANAGEMENT FOR A GROWING ORGANIZATION

One of the main tasks facing a developing company is to organize and systematize its finances. Already at the first stage of work, it is important to build up the organization's financial management competently, so that in the future difficulties in this area do not become a hindrance to the business.

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RULE 1. CUT FINANCIAL COSTS

For a start-up company, financial management is largely determined by one goal - to reduce costs, and in this CRM is also a great helper. What expenses a new company can reduce by implementing CRM:

Communication costs

Due to internal communications via CRM and built-in IP-telephony;

Website maintenance costs

When using CRM with a website management module;

Advertising costs

Advanced CRMs allow you to independently carry out advertising mailings, etc.

RULE 2. MAKE SALES, EXPENSES AND INCOME VISIBLE

To form a clear picture of income and expenses, current financial flows will help to automate work with the help of CRM.
This not only simplifies the management of corporate finances, but also makes it possible not to miss important points when working with documents. The company's management will see the volume of income and expenses, which will make it possible to assess the situation in time and adjust the financial policy.

CRM allows you to maintain databases of customers, goods, orders, as well as control transactions with suppliers, accounts receivable and payable.

Financial management system with CRM is in demand by companies and because it gives the opportunity to analyze sales with the help of sales funnel, visual graphs and charts.

What else can SRM do for your company?

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More accurate forecasting and data analysis.

CRM allows you to collect and analyze data about customers, their behavior and preferences. This helps the organization to more accurately forecast demand, identify the most promising customer segments, and identify trends and patterns in the data, enabling more informed decisions and optimized sales and marketing strategies.
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Enhanced customer relationship management.


CRM enables an organization to effectively manage customer contact, tracking customer preferences, interaction history and needs. This helps build deeper and more productive relationships with customers, which can lead to increased loyalty, repeat purchases and revenue growth.
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Increased productivity and efficiency.

CRM automates many processes related to customer management, such as collecting and analyzing data, maintaining contacts, scheduling appointments, and handling inquiries. This helps the organization's employees focus on more important tasks, improve communication within the team and with clients, and increase overall productivity.

RULE 3. AUTOMATE WORK WITH FINANCIAL DOCUMENTS

For a start-up company, it is especially important to immediately organize a clear scheme of work with financial documents, which will also help a good CRM: thanks to a well-chosen automation program, the financial management system ceases to be a headache for the manager.
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Two last but not least rules

  1. NOT TO FORGET ABOUT FINANCIAL REPORTING

    Managing the finances of an organization means timely reporting to regulatory authorities. Another plus CRM - the ability to prepare in the program the basic accounting and tax reporting. Such automation programs also have a calendar with reminders, so that the management of a start-up company will not forget to send reports electronically to the relevant authorities.

  2. DON'T FORGET ABOUT CONFIDENTIALITY OF DOCUMENTS

    Managing the resources of the organization, from the very beginning of the company is important to take care of the confidentiality of financial documents. For this purpose, you can also use CRM: the automation program will allow you to configure access to documents only for certain employees.

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