What resources do I have and how do I use them to the max? What do I need to meet the goals of my company?
Companies need a few essential elements to ensure smooth operations, which need to be integrated in order to meet the goals of your organization. These vital resources are human, financial, technology and materials or physical capital.
Human capital represents the number of employees in an organization and includes their skills and knowledge. Likewise, financial capital represents the economic resources that facilitate the acquisition of other resources.
In technology capital, systems are used to produce goods and services. They can also be used for managing organizational information. Materials or physical capital are goods or services that are used for business operations.
Although all resources are important, human capital is one of the most valuable of any company; they are responsible for the distribution and allocation of resources in the organization efficiently. Another valuable and necessary element in any company is a financial system that stores the resource’ information safe, organized and accessible.
It is vital that human capital understands their interaction and important role in the financial system for the development and growth of the company. Remember that the financial systems thrive on the data entered by the human capital and provides extensive benefits when used correctly. To use your resources to the fullest, you must define the structure and specific procedures based on the needs of your company.
How to establish the structure of your business?
First, determine the goals of your company and prepare the structure to achieve your goals considering your resources. Next, prepare training for your employees, determine your ability to manage the established processes efficiently, evaluate the type of market to which you belong, and evaluate the requirements of your internal and external users to ensure they are included in your processes.
If you understand that you need guidance or advice in the process, do not hesitate to seek out professional help fit for this task. Remember to consider everything as an investment not an expense because this will determine the success of your business.
Benefits of good interaction of Human Capital and the efficient use of the financial system
It is important to understand that the success of a company depends on the action, structure and effective use of resources. Some benefits include getting the complete information quick and easy, reports tailored for compliance with internal and external users, maintenance of updated information and the used of reports for analysis.
Evaluate your company and if you have the human capital, you may only need an efficient financial system. Remember that success is to understand the interdependence of your resources and the role of each.
Where and how do I find a Financial System that fits me?
We at Fusionworks, are responsible for assessing your type of business and offer the financial information system adapted to your business. Remember that information is a valuable resource and needs to be preserved. We also evaluate your processes and we provide the systems used by the most successful companies in your industry. Don’t forget, any disbursement for success is an investment.
Learn more about what we do, check out our site at www.fwpr.com.
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This article was written by Wendie Feliciano, Fusionworks’ Business Consultant.
Fusionworks: experts in Microsoft GP, Microsoft CRM, Oracle Fusion Financials, Oracle EBS, Prophix, SAP Business Objects, Microsoft Power BI.