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When cash is king, the CFO is king

28th Jun 2022
Brought to you by
Konsolidator Logo

Konsolidator is a Scandinavian SaaS company that delivers a 100 % cloud-based consolidation tool.

Share this content

A mantra we have heard for many years now, but recent events really have proven true.

In recent years, we have experienced Brexit and Corona Lockdowns, both marked by new daily situations that must be dealt with. And you, as the CFO, have to provide the answer to what it will mean for the business, what the management should do, and whether there is enough money in the bank for growth. The CFO is responsible for the overview of what liquidity looks like in different scenarios. The many fast-changing situations like the corona crisis show the need for a factual and correct foundation to base decisions.

As a CFO, how do you navigate crises like these?

Finding the right solution can be difficult, but one factor is essential when making the right decisions for the company in times of crisis. Of course, this is knowledge of the company’s financial situation.

For many companies, tight liquidity management is a crucial discipline to master to navigate the current storm safely. However, tight liquidity management places new demands on the reporting and forecasts that you and your team deliver. This is due to the fact that the reporting and forecasts must be geared to support critical decisions that have to be made from day to day in this uncertain time.

It demands speed and continuous reporting, and at the same time, it can be fatal to compromise on quality. The data quality must remain to trust the reporting – and the format must generate the insights needed.

Can your current reporting meet the new required standards? If the answer is no, it is time to update your reporting.

Gain time to deliver the financial reporting needed during a crisis

Due to time pressure, it can be challenging to do much more with the financial figures than just finding them or the management. But, consider the opportunities it would provide if there was time to analyze the financial data.

Time is limited and costly these days. This is why fast but valid reporting is essential when actual, current data is needed to make the necessary decisions to get through the crisis. Fast, accurate, and up-to-date data in your financial reporting can place very high demands on the finance function. Therefore, the timing is right to implement software that can help achieve the required reporting standards.

Software can help you through a crisis.

As an example, Konsolidator helps you achieve exactly this. The financial reporting and consolidation software contains actual data, figures for budgets, and an unlimited number of forecasts. Lastly, Konsolidator automatically generates your cash flow and actual, budgets, and forecast numbers. Cash flow is often overlooked, but it is the most essential part of the reporting these days – and in crises in general. An automatic and correct cash flow based on structured data gives you the best foundation for strategic decision-making at lightning speed.

With software like Konsolidator, you quickly get the correct numbers – both realized figures, forecasts, and budgets. This, together with the cash flow model, enables new scenarios to be set up quickly.

With financial software, you get a faster and simpler reporting process, ensuring that management quickly gets the necessary reporting to make decisions about the company’s operations and future. It will enable you to make decisions based on solid, up-to-date data.

With actual and valid figures as the foundation, you can make crucial decisions to get you and your business safely through this health crisis.

Are you interested in learning more about how to automate your financial reporting? Then contact us or read more at www.konsolidator.com