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The Importance of Having Streamlined Management Accounts

Having streamlined financial statements can help any business to have a better and up-to-date report of their management accounts, helping them to make more informed and better business decisions. Whilst this administrative task takes time, it is important that this is done on a monthly or quarterly basis to let business owners know their financial position and make competent decisions. Most business owners employ bookkeepers not only to have a more detailed and precise data but also to make better use of their time.

Detailed organisation charts

Having a cloud-based account management software helps analyse, plan and govern the strategic accounts of any type of company, whether it’s a startup or an established institution. It is used to build account landscape and create a detailed organisation chart using data. You wouldn’t need to exert too much time on managing since it already analyses key accounts – both qualitative and rule-based.

Annual account plan

The creation of an annual account plan is also one of the highlighted features of the software. It helps keep the company’s productivity levels progressive by utilising tools like presentation, export, plan trackers and in-app training / adoption. Executive employees usually use a key account management software to analyse aggregated data of multiple accounts to make the right decisions. Organisations that base their revenue growth on key accounts find that a key account management software prompts insights to expand key accounts.

Outstanding analytics

A streamlined account management provides the Account Manager with analytics and dashboards to make right decisions.

Some of the key metrics it provides are,

Achieving the target revenue
Account growth, farming and mining effectiveness,

For any company, the software provides powerful analytics using aggregated data of all key accounts.

Reliable platform

The importance of streamlined account management is that it is a single platform for account managers to create and consume data. It provides account intelligence, account financials, opportunities, contacts, account plans, account engagements and dashboards in a single platform without having doubts whether it does its job or not. The platforms provide a single source of truth and save the account manager the hassle of logging in to various enterprise applications for accessing data and monitoring account productivity.

All in all, a streamlined account management software is essential in attaining deeper analysis, better planning and reliable governance.

Chippendale and Clark and its highly-qualified team of professionals are CIMA licensed, experienced across a wide range of industries, and agents for VAT/Payroll and Self-Assessment with HMRC. For enquiries, contact them on 01249 465 435 or email info@chippendaleandclark.com.

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