5 steps to integrate sectors of your company and avoid cash surprises

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In the routine of any company, bottlenecks can arise. From SMEs (Small and Medium Enterprises) to giants like Google, no one is safe from the scoop – at least not without following some guidelines.

Between the operational and financial sectors, it is very common to notice bottlenecks in the processes. For example, the commercial sector sells several accounts thinking of the commission, but the finance sector is not prepared to bear the bonuses and other variables.

To avoid this kind of problem, there are a few things you can do.

First, your company must have a project manager responsible for planning and aligning the company’s goals and objectives.

This manager must also prepare a flow of information that works, implement an organizational chart with those responsible for each situation, analyze the impacts and projections of each sector on the other and, last but one of the most important, automate the processes and flow of company information.

Too much information? The path is not clear? No problem!

From this context, I will explain each of the steps mentioned above and how they should be developed. Stay with me to learn the five steps to integrating operational and financial sectors.

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1st Step – Planning and Alignment

It is common for finance to question the motives of other operational departments to “spend too much”. But this is only because these departments are misaligned about their objectives and goals, and are not sure what resources will be needed to achieve them.

In order for this not to happen, the project manager must define, plan, align and coordinate the needs of each department. Always remembering that the sectors should not be focused on just meeting the goals and objectives of their own departments, but of the company as a whole.

Depending on the context, for example, it is beneficial for an industry not to reach the month’s goal in favor of the company’s goal as a whole, even if its end-of-month cash is negative for that.

For this situation to be viable, it is necessary that their sectors are aligned and with the right information, that there are priorities of objectives and goals and that there is an efficient projection program – which we will comment on later in this article.

However, a project manager must have all the conditions to project this situation and try to prevent it as much as possible!

2nd Step – Communication

The larger the company, the more complex the communication between sectors. This complexity can bring losses to the company when bottlenecks are significant.

Therefore, you need to take care that informal communication is not the only one to run through the company’s corridors and that each employee works with communication in a standardized way.

Define how communication between departments in your company should take place, documenting how one sector should communicate something to another.

For example, if your company has a purchasing sector that requires authorization from the financial sector to carry out its work, have a clear procedure on how the payment request should be carried out. Should communication be done by email, to document the history? By phone, to speed up problem solving?

3rd Step – Organization Chart

With a project manager coordinating the team and aligned communication between sectors, it is necessary to pay attention to those responsible for each flow. For example, if a problem develops on the company’s website, it is not just any professional who has the know-how to lead a solution, do you agree?

Therefore, it is necessary that responsibilities are aligned and an organizational chart is in place. And, of course, that this entire organization chart is documented for any employee to have access to. After all, it’s no use creating giant procedures and organizational charts if they don’t apply and don’t come out of the paper.

In the routine of your company, professionals must know who to look for to solve each type of problem and to pass on information.

Your employees should always know who is responsible, to report a problem or ask for help

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4th step –  Impact and Projections

The lack of communication between the productive and financial sectors can have a great impact on the company’s finances.

To avoid a huge liability arising from the purchase of tools to attract customers, for example, you should carry out a quarterly or semiannual budget projection.

This projection will help the finance company to plan and project expenses, thus avoiding the lack of control over the company’s accounts.

The rule is simple, a well done planning can reduce or even avoid a breach in the company’s accounts.

5th step – Automation

Earlier, we mentioned that departments must be aligned and that communication must be done efficiently. The point is that, in practice, it is very difficult to centralize and control the flow of information.

The solution to this? Automate your process!

Implement an automated information flow through a system. That way, all departments will be aligned, heading in the same direction, and you’ll have overall control over everything that’s going on in your company.

And remember, transparency is the foundation!

In summary, the successful integration of operational and financial departments is based on communication between the sectors and their responsible.

The circulation of information between departments in a transparent and clear way is what will drive the growth of your company without any surprises in my way.

This content was written by Maria Eduarda Paschoal, Marketing Analyst at iClips, the best management software for communication agencies in Brazil. If you have an agency and want to know more about the tool that can make your day-to-day easier, click here.

And don’t forget to download our Sales Management Guide, to have full control over your company’s sales processes.

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