PRODUCTIVE USE OF RESOURCES
First It is the construction of a “healthy financial culture”, which promotes and motivates good practices in the use of business resources.
The second is “lifelong learning in financial matters” and the development of appropriate skills, which necessarily range from the ability to analyze and understand the current financial situation of the company to the ability to design and execute a solid financial structure supported by forecasting. and planning.
The third is the implementation of an information system that constitutes effective support to project, monitor, and evaluate the management of the company. This implies that an information system must integrate: accounting-financial information, financial statements, management indicators, cost systems, budgets, and cash flow among others.
In this sense, training in financial management must be a priority for companies.
In particular, the last element mentioned, the (projected) cash flow, is the central element of the financial information system, because it integrates and provides elements that allow better planning, control, measurement, and monitoring of the impact of investment decisions. management of the health and financial viability of the company.
The financial management of a company is a continuous flow of decisions and each improvement, no matter how small, can significantly strengthen the company's overall performance.
Most management decisions are made on money flows and have a short--, medium-, or long-term impact. In the short term, appropriate decisions about the flow of money allow the normal functioning of the company to be maintained, that is, to finance the production of goods or services and cover all the activities that support this operation, without problems. In the medium term, they allow you to replace equipment, pay acquired debt, pay interest, make incremental investments, and capitalize the company. Finally, in the long term, they allow investments that affect permanence over time, sustainable growth, and future profitability.
Finally, we must mention that three elements are present in all companies, with a greater or lesser development depending on the particular characteristics. These three elements are: (Financial culture, Learning and competencies in finance and Information system).
At BDW, it is precisely that task that we will help you manage, the management of the actions required to improve and strengthen each of these aspects.