Main problem: Consistency in service maintenance while driving the organizational values
Most financial organizations encounter several problems on a daily basis as they prepare to tackle the current state of the economy in their respective nations (Bandy, 2013). In addition to the main issue above, the ACCA and IMA have also identified some points that focus on the financial organizations such as current priorities, the effectivity of the team in the finance department, and the functional challenges of finance. Therefore, by addressing the issues, financial organizations will be in a position to navigate their companies through the struggling economy. The financial organizations should gather insights concerning their companies, especially from a massive streaming of the available data to provide such companies with better opportunities while making informed decisions. Similarly, the organizations should identify the aspects of the functions that finance can bring to real life after critical analysis. The function of finance department should cover the reporting of finance, financial analysis, and planning.
The organizations should be consistent in delivering experience services with appropriate information regarding the preference of their customers (Accounting.smartpros.com, 2016). That is, they should possess all details behind the call for any particular service, including specification of contracts and the relevant equipment needed with a detailed background of the technicians. This acts as a risk prevention mechanism because it will limit the duplication of services. Moreover, it will provide alerts, particularly on issues of warranty since it will notify employees in an organization concerning their individual parts. The adoption of mobile field technology will offer better experiences for customers of the organization. Similarly, the mobile solutions will summarize all electric calls in the sense that the mobile technology can view the service calls for clients after the closure of their approval. The mobile technology will also be applicable during online troubleshooting as an employers search for internal documents. It also guarantees the use of internet access, and this will limit the time taken to get a resolution.
As the organization gets their hands on the updated information, they will be capable of making better planning and meeting policies; thereby, improving the means of serving their clients (Accounting.smartpros.com, 2016). Similarly, the financial organizations need to identify the relevant information that they are looking for plus various tools for investments before embarking on business strategies and intelligence because this will make data easily available. Management organizations should hire many professional employees with the ability to work with the innovative tools before assembling the teams. This is because professionals are deemed to have the required skills that can meet customer needs. Therefore, any management organization should not navigate through the skills gap.
Conclusion
The paper illustrates that most financial organizations always achieve gains in their production as a result of the use of modern technology and automation. Consequently, some organizations are increasing their production rate through the integration of different systems of information within the organization. This has enabled them to improve their customer responsiveness. The challenge also provides many opportunities for management organizations to adopt the use of innovative and centric mindset of employees. According to this paper, flexibility, accountability, and transparency are the basic tools for winning the performance of employees. Therefore, financial management companies should focus on their customers as they approve the use of new technologies because it will streamline business operations, thus provision of more value-added services to customers.
References
Accounting.smartpros.com, (2016). Report Identifies Biggest Challenges Facing Today's Finance Organizations. Retrieved 27 February 2016, from http://accounting.smartpros.com/x73508.xml
Bandy, G. (2013). Financial Management and Accounting in the Public Sector. United Kingdom: Routledge.
