In a digitally-driven economy, data drives business decisions and helps organisations to become agile and responsive to change. But when an organisations finance system is in need of an upgrade, the ripple effects can be highly damaging. Here are your six warning signs.
Deploying an enterprise resource planning (ERP) system cannot be underestimated. To start with, you’ll need to assign time and resources to implement the technology, for training and to integrate your new purchase with existing tools. Picking an unsuitable option will only drag you back to square one.
No matter their size or the cause that drives them, long-term grants are essential for organisations in the voluntary sector in ensuring financial sustainability. Against a backdrop of slow economic growth, however, significant reforms to the shape of government spending has made securing such contracts an unfair fight for organisations on the smaller end of the scale.
From shrinking public sector budgets, local authority cuts and lack of long-term funding, charities across the UK are feeling the financial strain of a volatile economy. Unfortunately, the situation is made significantly worse by the number of instances of fraud that occur within the third sector each year.
