How to protect your business with stronger financial controls | ApprovalMax + Xero
Description
Financial controls enable accountable growth by distributing responsibility across teams…
Today I’m speaking with:
-
Meena Berry, Senior Partnership Manager, Xero
-
Cassandra Scott, Head of Bookkeeping, ApprovalMax
-
Brendan Lucas, Head of Accounting, ApprovalMax
In this episode, we discuss:
- ApprovalMax & Xero survey results revealing many businesses lack key financial controls
- Stories of businesses defrauded due to inadequate internal verification processes
- How financial controls enable accountable growth by distributing responsibility across teams
- The importance of supplier verification and approval processes in mitigating fraud and non-compliance risks
- The role of audit trails, budget checks, and real-time alerts in enhancing financial oversight
- Case studies demonstrating how ApprovalMax and Xero streamline approval workflows
- The significance of continuously improving controls as businesses scale
Key takeaways:
- Revisit and continuously improve your financial controls
- Discuss the value of financial controls with clients
- Check E-invoicing capabilities in Xero and get registered
Contact details:
Accounting Apps newsletter: http://HeatherSmithAU.COM
Accounting Apps Mastermind: https://www.facebook.com/groups/XeroMasterMind
LinkedIn: https://www.linkedin.com/in/HeatherSmithAU/
YouTube Channel: https://www.youtube.com/ANISEConsulting
X: https://twitter.com/HeatherSmithAU
Brendan Lucas https://www.linkedin.com/in/brendanlucasca/
Cassandra Scott https://www.linkedin.com/in/cassandrascott/
Meena Berry https://www.linkedin.com/in/meenaberry/
United States
