Các doanh nghiệp và tập đoàn lớn thường có một bộ phận tài chính chịu trách nhiệm về tất cả các vấn đề tài chính. Tuy nhiên, bộ phận này sẽ không có ở các đơn vị vừa và nhỏ, người quản lý phải quản lý tài chính tốt để doanh nghiệp hoạt động tốt nhất. Câu hỏi đặt ra là làm thế nào để làm được điều đó? Hãy cùng Navigos Search có câu trả lời chính xác nhất qua bài viết dưới đây.
1. Quản lý tài chính là gì?
Quản lý tài chính là việc lập kế hoạch, tổ chức, chỉ đạo, kiểm soát và đánh giá rủi ro đối với các hoạt động tài chính như mua sắm và sử dụng các quỹ tiền tệ của doanh nghiệp cho các hoạt động cần thiết.
Quản lý tài chính sẽ giúp tối đa hóa lợi nhuận kinh doanh từ việc quản lý vốn hiệu quả. Ngược lại, nếu doanh nghiệp không giải quyết các vấn đề tài chính một cách hợp lý, doanh nghiệp sẽ dễ gặp phải những rào cản đáng kể, dẫn đến nhiều hậu quả nặng nề cho sự tăng trưởng và phát triển.
Quản lý tài chính giúp tối đa hóa lợi nhuận kinh doanh
2. Những sai lầm thường gặp trong quản lý tài chính doanh nghiệp vừa và nhỏ
Chi tiêu lớn cho việc bán hàng
Các doanh nghiệp vừa và nhỏ phải cân nhắc kỹ lưỡng các chiến lược thu hút khách hàng mới. Có hai thước đo để xác định liệu khách hàng có mang lại lợi nhuận cho doanh nghiệp hay không. Đó là:
- Chi phí nhận được: Số tiền mà khách hàng phải trả cho sản phẩm.
- Giá trị dài hạn: Tổng doanh thu mà khách hàng phải bỏ ra trong thời gian dài.
That means it will be better for business to have loyal customers than passersby. In this way, the Chief Financial Officer (CFO) must deeply understand the business cash flow.
Spending too much on sales will bring profits to small enterprises but at a very low rate. Therefore, the CFO must consider which expenses need to be spent or refined as businesses also have to spend on many other things such as staff salaries, office rent, electricity, and internet. If they do not do this well, the imbalance of revenue - expenditure will affect the enterprise's cash flow.
Incorrect profit calculation
A business specializing in children's toys sells products to the market at a price 30-40% higher than the original price. Nonetheless, when preparing the year-end balance sheet, businesses realized they had suffered a loss. The reason is that businesses have not considered the differential cost, including transaction fees, shipping fees (per order), storage costs, and most importantly, profits.
Most businesses find that they will get quite a bit of profit in return on the transaction. In practice, however, they must pay many costs without prior calculation and control.
Therefore, predicting incurred costs is a smart solution to help businesses shape a more stable selling price before reaching users.
Late payment
The fact that customers make a payment late or owe money is a financial problem that often occurs in businesses. Although the amount is not too large, it also causes obstacles to businesses, especially those who work with suppliers. Because not every supplier has enough time to wait for the payment to be made. This can affect the business image, and the supplier may not cooperate with the business in the future.
Late payment will detract from the business reputation
Improper tax management
Paying taxes on time is a mandatory obligation of businesses. As a result, missing tax payment deadlines will adversely affect the business. Thus, business leaders must accurately calculate taxes in the financial plan.
Besides, businesses must also estimate the amount of tax to be paid in the following year. This amount depends on the projected growth plan and the financial budget as prescribed.
The sudden change in tax also affects financial management in enterprises. For an instant, the tax rate changes from 11% to 11.5% and then to 14%. In just a short time, businesses must turn their hands to determining a reasonable price frame for their products/services speedily. Therefore, if tax is not managed properly, it will lead to a loss of cash flow.
Compulsory growth
Let’s take an example first. A beauty care company has applied Google Ads in business. In the first month, the company regained its capital quickly. Then, the manager increased ad spending five times and predicted sales KPIs would also increase five times.
However, that did not happen. That director has directed to attract many potential customers without recovering profits because they're not suitable for the company's product.
It means you can't sell the product even if you reach customers. The spending on advertising higher than the profit gained has affected financial resources, making businesses borrow capital to cover the shortfall in the past. The above story shows that it's great to have a growth goal. However, businesses must view it from many different perspectives.
3. Strong financial management tips for small and medium enterprises
Managing finance and accounting systematically
Managing business finances systematically will help businesses develop sustainably. The business must closely monitor all loans, revenues and expenditures, investment costs, and salaries. It's essential for large-scale businesses or ones longing to manage their finances in detail to use financial management software.
Having a specific revenue and expenditure plan, prioritizing debt reduction
The business must record revenue and expenditure carefully. In addition, having a specific revenue and expenditure plan also helps businesses manage cash flow accurately and avoid budget deficits. Not to be in debt, small and medium enterprises should not spend money over profit gained.
Another vital principle bringing strong financial management is to prioritize debt reduction. Usually, bad debts will affect revenue and short-term and long-term business plans. Therefore, businesses should not let those bad debts last from year to year. Instead, try to avoid them to ensure financial stability.
Prioritizing debt reduction helps businesses manage their finances better
Investing to create profits and forecasting cash flow
Continuously investing the business's idle money in profitable projects will bring large profits to the business. Effective investments with a high rate of return will generate massive cash flows.
In addition, businesses must maintain daily cash flow forecasting for each item and product and determine if there are any shortfalls, and make a plan to cover all shortfalls from other funds or by working capital arrangements.
Balancing between risks and rate of return
If the project's risk is lower, the rate of return will also be low and vice versa. It shows that the balance of risk and profit is a critical issue that businesses should note. To limit risks, businesses can apply the method of diversifying investment fields. When investments are diversified, an unsuccessful project or product will not seriously affect the overall investment.
Always having a reserve fund
Many business leaders don't keep an eye on building a reserve fund. As a result, when having a crisis, there is no financial source to support them. The Covid-19 pandemic is a prime example showing that businesses can face an unpredictable crisis at any time.
The reserve fund is a sufficient financial amount to help maintain the business's operations during difficult times. Usually, businesses only use part of their profits to build a reserve fund. This fund will guarantee the business to maintain operations for a certain time.
Making a business plan
A specific business plan will tell you what your position in the market is and what your goals are. In terms of finance, the planning will help the business to properly allocate cash flow into business activities to boost revenue. At the same time, the Chief Executive Officer (CEO) will know how to get the capital to keep the business running.
Moreover, a reasonable cash flow distribution is essential for small and medium enterprises success. For proper cash flow distribution, businesses must determine how much to invest, how the profit achieved is, etc. Answering these questions will help the CEO better manage finances.
A business plan helps businesses know what goals to achieve
Investing in technology and using financial management software
To minimize the risks from manual input operations and limit the decentralization, access and use, investing in key technology and using financial management software is the leading solution.
Financial management software brings numerous benefits to businesses, specifically as follows:
- Efficient capital management.
- Source of capital and capital structure management easily.
- Transparent revenue and expenditure management.
- Payment on time.
- Budget plan creation and approval quickly.
- Appropriate resource allocation for internal and external activities of the business.
- Reports and KPIs setup, item control support, overspending restriction.
- High security and safe system.
- Easy, quick and timesaving data entering
Quản lý tài chính luôn là một bài toán khó đối với các doanh nghiệp vừa và nhỏ hiện nay. Chúng tôi hy vọng bài viết này sẽ giúp bạn hiểu được định nghĩa về quản lý tài chính và biết cách quản lý tài chính hiệu quả để đạt được thành công và tăng trưởng kinh tế cho doanh nghiệp của bạn.
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