While great ideas and entrepreneurial skills are fundamental to the business start-up, good financial management is considered critical to the business’s survival.
Finance is the function of managing the financial operations of an entity, including decisions on methods of obtaining capital, evaluating the acquisition of assets, investing idle cash, managing financial investments, collecting money from customers, paying bills and payrolls, etc. The finance function depends on the information produced by the accounting function.
The Accounting function is the collection and recording of information on all financial transactions of an entity, reporting the results of those transactions and interpreting those results. Accounting also includes the design and implementation of accounting controls to minimize errors, safeguard assets, and prevent fraud.
OliveTree comprehends, the reason most business fail is that they are not up to the challenges of effective financial management and decision-making. This is where our outsourcing services of the Finance and Accounting function come in and are an alternative, which we believe your businesses could consider in order to remain competitive.