New to Your Senior Finance Role? Here Are Some Things You Can Do

If you’re a new senior finance professional, congratulations! This is an exciting and challenging role. But it can also be a daunting one. You’re responsible for leading a team and ensuring the financial health of your organisation.

Here are a few things you can do to hit the ground running in your new role:

1. Get to know your team

As a senior finance professional, you’ll be leading a team of finance professionals. So it’s important to get to know them and understand their strengths and weaknesses.

This will help you delegate tasks effectively and work together to achieve your team’s goals.\

2. Re-evaluate processes and workflows

One of your first tasks as a senior finance professional should be to re-evaluate your team’s processes and workflows. There may be areas that are inefficient or could be improved.

The goal is to streamline processes so that your team can work more effectively and efficiently.

3. Assess the finance system

In addition to evaluating your team’s processes, you should also assess the current accounting system your team is using.

You may find that there are opportunities to upgrade or replace outdated systems. Doing so can help improve your team’s productivity and efficiency.

Your financial management system is a critical tool for your team. So it’s important to make sure you have the right one in place.

4. Set goals and KPIs

As a team leader, you should also be setting goals and KPIs for your team. This will help you measure your team’s progress and identify areas where improvement is needed.

Some common examples are reducing accounting errors, increasing productivity, getting reports ready on time, and so on.

5. Get a handle on the data

As a senior finance professional, you’ll be responsible for making decisions based on data.

So it’s important to get a handle on the data (both financial and non-financial data) you have available. This includes understanding where it comes from, how it’s collected, and how it can be used to inform decision-making.

Conclusion

Being a senior finance professional is a big responsibility. But it’s also a great opportunity to make a positive impact on your organisation.

By following the tips above, you can hit the ground running in your new role and set yourself up for success.

Need help with implementing or upgrading your existing finance system? We can help. Contact us today to learn more about how SunSystems or NetSuite can help your finance team.