Articles

Here at Aedon.Accounting, we view the finance department as more than just a back-office function—it’s a powerful instrument of change within your business. By leveraging financial management information, you can drive transformation and improve overall business performance.

Our CEO, Paul Foden, says, “A good finance department holds up a magnifying glass using management information as a tool for change.” This proactive approach contrasts with the traditional passive role of finance, which merely produces reports and account information.

Using bottom-up reporting, finance teams can measure the contribution of the finance function to the overall value of the business. This involves not only tracking costs but also evaluating the influence of finance on various aspects of the business. “Can we reduce the cost spend on projects? Have we been able to identify problems earlier?” Foden asks. These questions highlight the finance department’s potential to drive meaningful change.

By adopting a proactive stance, finance departments can help businesses identify inefficiencies, anticipate challenges, and implement solutions before problems escalate. This proactive approach transforms the finance function into a strategic partner, rather than just a cost centre.

Moreover, leveraging management information effectively can empower businesses to monitor performance and make data-driven decisions. “If you have a speedometer and you don’t look at it, you’re going to speed,” Paul says. By actively using financial data, businesses can stay on track and make informed choices that drive success.

We believe that every business has the potential to harness the power of its finance department as an instrument of change. By adopting proactive practices and leveraging advanced reporting tools, you can transform your finance function into a key driver of business improvement.

Contact Aedon.Accounting today to see how your finance department can become a catalyst for change and drive your business forward.