To put it simply, financial management is an economic management work to organize enterprise financial activities and deal with financial relations.
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Whether the financial manager is aware of this or not, the forecasting process is likely to have shortcomings. Outdated processes and tools, coupled with misunderstanding of the accuracy and quality of forecasting, make most forecasting processes in the world have shortcomings.
A successful cure of this epidemic requires two steps. First of all, financial managers should identify and solve the common symptoms of forecasting problems and realize their own shortcomings. Secondly, after realizing this, the financial manager can take measures to realize healthier forecasting practice and eventually transform into a more flexible and profitable organization.
The seven symptoms of prediction problems include: semantic confusion, visual impairment, accuracy paranoia, system overload, prosperity syndrome, lack of cooperation and anti-social behavior. By identifying and dealing with the symptoms of the above forecasting problems, enterprises can experience the advantages brought by the' healthy' forecasting method.
Planning software must support recognized best practices to improve the timeliness of planning, the reliability of information and the participation of key personnel throughout the organization. Best practice methods require planners to adopt several key strategies and tactics.
IBM business analysis software can provide decision makers with practical insights needed to achieve better performance. IBM can also provide a comprehensive and unified portfolio of products and services, including business intelligence, forecasting and advanced analysis, financial performance, strategic management, supervision, risk and compliance, and analytical applications.
Baidu encyclopedia-financial management