What is Financial

Management?
At its core, financial management is the practice
of making a business plan and then ensuring all
departments stay on track. Solid financial
management enables the CFO or VP of finance
to provide data that supports creation of a long-
range vision, informs decisions on where to
invest, and yields insights on how to fund those
investments, liquidity, profitability, cash runway
and more.
ERP software can help finance teams achieve
these goals: A financial management
system combines several financial functions,
such as accounting, fixed-asset management,
revenue recognition and payment processing.
By integrating these key components, a
financial management system ensures real-time
visibility into the financial state of a company
while facilitating day-to-day operations, like
period-end close processes.