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The 5 key principles of effective financial leadership for a growing business

For a company on a growth path, it is critical that financial flows are clearly structured and managed. Effective financial processes must be established from the very beginning of the business so that potential difficulties in financial management do not hinder future business development.

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RULE 1. Reduce financial costs

For a young enterprise, the key task of financial management is to minimize costs, and in this aspect CRM system acts as a reliable tool. Let's consider what costs a newly founded company can reduce with the help of CRM implementation:

Communication expenses

With a CRM system and integrated IP telephony for internal communications;

Site maintenance costs

When a CRM that includes features for website management is applied;

Costs of advertising

Modern CRM systems provide the ability to autonomously execute marketing campaigns for mailings and more.

RULE 2. Ensure transparency of sales, costs and revenues

Automation through a CRM system will create a clear view of revenue and expenses, as well as ongoing financial activity.
This approach not only facilitates control over corporate funds, but also promotes accuracy in document flow. Management staff will be able to track the current state of income and expenses, which will provide a timely understanding of the company's financial position and allow for adequate adaptation of the financial strategy.

CRM provides management of databases on customers, products, orders, and also allows you to monitor interactions with suppliers and keep track of accounts receivable and payable.

The demand for CRM-systems in financial management is also explained by the possibility of sales analytics: the use of sales funnel, as well as the creation of illustrative graphs and charts provides in-depth analysis and promotes informed decision-making.

What additional capabilities does SRM offer your business?

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Improved prediction and detailed information exploration.

CRM facilitates the process of collecting and interpreting information about customers, including their actions and preferences. This enables companies to better anticipate market needs, identify the most promising customer categories, and recognize established trends and patterns, which in turn improves the accuracy of management decisions and enhances sales and marketing tactics.
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Optimized management of client relationships.


CRM enables a company to strengthen its connection with customers by keeping a record of their preferences, communication history and needs. This fosters more meaningful and productive relationships with customers, which in turn can increase customer loyalty, encourage repeat purchases and strengthen the company's financial position.
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Improved working efficiency and productivity.

CRM automates many operations related to customer management, such as information gathering, analytics, contacting, scheduling appointments and servicing inquiries. It allows employees to focus on key aspects of work, improves interaction within the team and with customers, which contributes to the overall efficiency of work.

RULE 3. Mechanize the processing of financial documentation.

For a newly established business it is critically important from the very beginning to establish a transparent system of financial records, and here a quality CRM will play a key role: a properly selected automation tool facilitates the process of financial management, freeing the director from unnecessary hassle.
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Two finite but equally significant principles

  1. DON'T FORGET ABOUT THE FINANCIAL STATEMENTS

    Effective financial management includes the obligation to submit reports to control structures within the established deadlines. The advantage of CRM is the functionality to prepare key accounting and tax documentation directly in the system. In addition, such automated systems have a calendar with notifications, which protects the management of new companies from missing deadlines for submitting reports electronically to the necessary authorities.

  2. DON'T FORGET THE CONFIDENTIALITY OF DOCUMENTS

    When you manage the assets of an organization, ensuring the confidentiality of financial records is critical from the first days of the company's existence. In this context, CRM can be a reliable tool: an automated software system provides the ability to regulate access to documents exclusively for authorized personnel.

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