{"id":73164,"date":"2025-03-14T15:46:44","date_gmt":"2025-03-14T13:46:44","guid":{"rendered":"https:\/\/www.sage.com\/en-za\/blog\/?p=73164"},"modified":"2025-03-14T15:48:17","modified_gmt":"2025-03-14T13:48:17","slug":"what-is-financial-management","status":"publish","type":"post","link":"https:\/\/www.sage.com\/en-za\/blog\/what-is-financial-management\/","title":{"rendered":"What is financial management: Your essential guide"},"content":{"rendered":"<header class=\"entry-header has-dark-background-color entry-header--has-illustration entry-header--has-illustration--generic\">\n\t<div class=\"container\">\n\t\t<div class=\"entry-header__row row align-center\">\n\t\t\t<div class=\"col col-lg-7 col-xlg-6 entry-header__content\">\n\t\t\t\t\t\t\t<div class=\"component component-single-header\">\n\t\t\t\t\t\t\t\t\t\t<div class=\"entry-header__misc text--subtitle text--uppercase text--small\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-za\/blog\/category\/money-matters\/\" class=\"entry-header__link\">Money Matters<\/a>\t\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t<div class=\"entry-title-wrapper\">\n\t\t\t\t\t<h1 class=\"entry-title\">\n\t\t\t\t\t\tWhat is financial management: Your essential guide\t\t\t\t\t<\/h1>\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t<p class=\"entry-header__description\">\n\t\t\t\t\t\t\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n\t\t<div class=\"single-post-details container\">\n\t\t<div class=\"col\">\n\t\t\t<span class=\"posted-on \">Published <time class=\"entry-date published\" datetime=\"2025-03-14T15:46:44+02:00\">March 14, 2025<\/time><\/span><span class=\"reading-time\"> min read<\/span>\n\t\t<button\n\t\t\ttype=\"button\"\n\t\t\tclass=\"social-share-button button button--icon button--secondary js-social-share-button\"\n\t\t\tdata-share-title=\"What is financial management: Your essential guide\"\n\t\t\tdata-share-url=\"https:\/\/www.sage.com\/en-za\/blog\/what-is-financial-management\/\"\n\t\t\tdata-share-text=\"Please read this interesting article\"\n\t\t>\n\t\t\t<span class=\"social-share-button__share-label\">Share<\/span>\n\t\t\t<span class=\"social-share-button__copy-label\" hidden>Copy Link<\/span>\n\t\t\t<span class=\"social-share-button__copy-tooltip\" aria-hidden=\"true\" hidden>Copied<\/span>\n\t\t<\/button>\n\n\t\t\t\t<\/div>\n\t<\/div>\n\t<\/header>\n\n\n<div class=\"wp-block-post-author has-dark-background-color alignfull\">\n\t<div class=\"container\">\n\t\t<div class=\"col\">\n\t\t\t\t\t\t\t<div class=\"co-authors\">\n\t\t\t\t\t\n\t\t<div class=\"entry-author-wrapper\">\n\t\t\t<a class=\"entry-author\" href=\"https:\/\/www.sage.com\/en-za\/blog\/author\/ryangrundy\/\">\n\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"40\" height=\"40\" src=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2023\/05\/Ryan-Grundy.jpg\" class=\"entry-author__image\" alt=\"\" \/>\t\t\t\t<span class=\"entry-author__name\">Ryan Grundy<\/span>\n\t\t\t<\/a>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n\n<p class=\"wp-block-paragraph\">Financial management is all about handling a company&#8217;s money and using it wisely.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Effective financial management is made up of a variety of tasks like tracking transactions, paying bills, and generating financial reports.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The main focus of financial management is on keeping the business solvent, healthy, and growing.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Read on to find out more about what financial management is, the core objectives, and best practices &#8212; and how you can streamline your financial management to get ahead.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Here\u2019s what we\u2019ll cover<\/strong><\/p>\n\n\n<?xml encoding=\"utf-8\" ?><div class=\"wp-block-yoast-seo-table-of-contents yoast-table-of-contents\"><ul><li><a href=\"#h-financial-management-definition\" data-level=\"2\">Financial management definition<\/a><\/li><li><a href=\"#h-what-is-the-main-goal-of-financial-management\" data-level=\"2\">What is the main goal of financial management?<\/a><\/li><li><a href=\"#h-why-is-comprehensive-financial-management-important\" data-level=\"2\">Why is comprehensive financial management important?<\/a><\/li><li><a href=\"#h-what-is-the-cycle-of-financial-management\" data-level=\"2\">What is the cycle of financial management?<\/a><\/li><li><a href=\"#h-what-are-the-main-types-of-financial-management\" data-level=\"2\">What are the main types of financial management?<\/a><\/li><li><a href=\"#h-what-is-the-difference-between-financial-management-and-management-accounting\" data-level=\"2\">What is the difference between financial management and management accounting?<\/a><\/li><li><a href=\"#h-challenges-of-financial-management\" data-level=\"2\">Challenges of financial management<\/a><\/li><li><a href=\"#h-5-best-practices-for-effective-financial-management\" data-level=\"2\">5 best practices for effective financial management<\/a><\/li><li><a href=\"#h-streamline-your-business-with-financial-management-software\" data-level=\"2\">Streamline your business with financial management software<\/a><\/li><\/ul><\/div>\n\n\n\n<div class=\"single-cta gated-content\">\n\t<div class=\"single-cta__positioner on-scroll-highlight__target\">\n\t\t<div class=\"single-cta__wrapper has-dark-background-color\">\n\t\t\t<div class=\"single-cta__content\">\n\t\t\t\t\t\t\t\t<h2 class=\"single-cta__title h3\">Small business survival toolkit<\/h2>\n\n\t\t\t\t\t\t\t\t\t<div class=\"single-cta__description\">\n\t\t\t\t\t\t<p>Get practical advice to help your business thrive.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\thref=\"#gate-80195606-5387-4569-bfaf-b6a518449b24\"\n\t\t\t\t\t\tclass=\"single-cta__button button button--primary\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t>Download your free guide<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<img decoding=\"async\" width=\"1440\" height=\"810\" src=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2022\/04\/GettyImages-1305268048-1440x810.jpg\" class=\"single-cta__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2022\/04\/GettyImages-1305268048-1440x810.jpg 1440w\" sizes=\"auto, (min-width: 48em) 33vw, 100vw\" \/>\t\t\t<\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-financial-management-definition\"><strong>Financial management definition<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">For businesses, financial management means monitoring and controlling the flow of funds so that your organisation remains on solid ground and can keep growing.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This involves everything from accounting and payment processing to revenue recognition and risk assessments.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Larger businesses often have entire teams or bring in outside experts who review data, spot trends, and give solid financial advice.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If done right, financial management offers a crystal-clear look into a company&#8217;s finances.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It helps decision-makers feel confident that their spending (and saving) choices will keep the business on track for the long haul and meet all important compliance standards.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Now that we have a solid definition of financial management, let&#8217;s dive into the details.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-is-the-main-goal-of-financial-management\"><strong>What is the main goal of financial management?<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">There are several core objectives that drive financial management:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-managing-relationships\"><strong>Managing relationships<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Financial management also involves delivering reports to investors and company management.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The team needs to be able to communicate well with all levels and functions across the business.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-tracking-cash-flow\"><strong>Tracking cash flow<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Up-to-date reporting on business funds ensures that the company remains solvent and always has a steady supply of funds for essential business functions.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-ensuring-roi\"><strong>Ensuring ROI<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">One of the most important aspects of financial management is creating a good return on investments (ROI) for shareholders and investors.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-maximising-profits\"><strong>Maximising profits<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The financial management team will help a business maximize its profits by reporting on the costs of raw materials, identifying investment opportunities, assessing the costs of existing products, and evaluating the potential of new products.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-structuring-spending\"><strong>Structuring spending<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Financial management creates a structure for allocating, spending, and tracking money within an organisation.\u00a0<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-minimizing-costs\"><strong>Minimizing costs<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">This can be done by reducing the overheads of raw materials and business operations as well as monitoring business cash flow.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-raising-funds\"><strong>Raising funds<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">With increased ROI through solid financial management, businesses can raise capital funds and attract more investors.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-forecasting\"><strong>Forecasting<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Financial management also involves financial forecasting to ensure your business can invest and grow while still having enough cash for operations.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-assessing-risks\"><strong>Assessing risks<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Financial management includes assessing the risk of investments, the strength of new products, and the compliance of business operations. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This helps businesses to operate and grow safely.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-ensuring-compliance\"><strong>Ensuring compliance<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Financial management ensures that businesses are compliant and operate according to government and industry standard regulations.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-why-is-comprehensive-financial-management-important\"><strong>Why is comprehensive financial management important?<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Think of financial management as the backbone that supports your business\u2019s overall wellbeing. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It addresses every aspect of a company\u2019s financial health, from daily cash flow and investor relations to long-term risk mitigation.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A strategic approach ensures:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>All financial activities are handled effectively and in compliance with regulations.<\/li>\n\n\n\n<li>You always have an up-to-date overview of where your company stands financially.<\/li>\n\n\n\n<li>You\u2019re prepared to make informed decisions, plan long-term strategies, and handle unexpected challenges.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Without these elements in place, it becomes nearly impossible to allocate resources properly, manage your cash, or even measure how well your operations are performing. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Strong financial management helps protect your company from potentially devastating losses while also positioning it to grow and stay competitive.<\/p>\n\n\n\n<div class=\"single-cta gated-content\">\n\t<div class=\"single-cta__positioner on-scroll-highlight__target\">\n\t\t<div class=\"single-cta__wrapper has-dark-background-color\">\n\t\t\t<div class=\"single-cta__content\">\n\t\t\t\t\t\t\t\t<h2 class=\"single-cta__title h3\">Small business survival toolkit<\/h2>\n\n\t\t\t\t\t\t\t\t\t<div class=\"single-cta__description\">\n\t\t\t\t\t\t<p>Get practical advice to help your business thrive.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\thref=\"#gate-80195606-5387-4569-bfaf-b6a518449b24\"\n\t\t\t\t\t\tclass=\"single-cta__button button button--primary\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t>Download your free guide<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<img decoding=\"async\" width=\"1440\" height=\"810\" src=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2022\/04\/GettyImages-1305268048-1440x810.jpg\" class=\"single-cta__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2022\/04\/GettyImages-1305268048-1440x810.jpg 1440w\" sizes=\"auto, (min-width: 48em) 33vw, 100vw\" \/>\t\t\t<\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-is-the-cycle-of-financial-management\"><strong>What is the cycle of financial management?<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">A typical financial management cycle features four main stages:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-1-financial-planning-nbsp\">1. <strong>Financial planning&nbsp;<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">First, you should outline your company\u2019s goals and create financial plans that make them achievable.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This could involve deciding on the right capital structure, projecting future cash flows, and predicting sales and revenue.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-2-monitoring-and-reporting-progress-nbsp\">2. <strong>Monitoring and reporting progress&nbsp;<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Once plans are in place, you\u2019ll need to check how things are going against KPIs. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Modern financial management software can automatically generate reports and highlight any deviations, making it easier to step in and fix issues right away.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-3-resource-allocation-nbsp\">3. <strong>Resource allocation&nbsp;<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Delivering the plan requires effective management of resources. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This isn\u2019t restricted to cash but also includes the optimal use of capital assets, the deployment of staff and office space, and the use of the right software in your tech stack.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-4-financial-decision-making\">4. <strong>Financial decision-making<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Finally, armed with accurate, real-time data, managers can make smarter decisions more quickly. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Tools like dashboards and visualisations are invaluable in this process, helping leadership see the big picture at a glance.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-are-the-main-types-of-financial-management\"><strong>What are the main types of financial management?<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Let\u2019s explore the fundamental types of financial management in more detail:&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-working-capital-management\"><strong>Working capital management<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Working capital measures the short-term financial health of your organisation by subtracting current liabilities from current assets.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This tells you if you have enough readily available funds to cover day-to-day operations.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-current-liabilities\"><strong>Current liabilities<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"> Any outgoing payments due within the next 12 months. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">These might include supplier invoices, debt payments, income taxes, etc.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-current-assets\"><strong>Current assets<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Any company assets that can yield financial value within the next 12 months. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Examples include items within the company inventory, physical cash, and short-term investments.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Strong working capital management means you can comfortably handle routine expenses without scrambling for cash at the last minute.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-capital-budgeting\"><strong>Capital budgeting<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Capital budgeting looks at the best ways to meet both your short-term and long-term financial goals. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It\u2019s used to analyse potential investments\u2014like new equipment or product launches\u2014and decide which ones are worth pursuing.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It can also guide you on whether to choose one investment option over another.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-capital-structure\"><strong>Capital structure<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Capital structure is about how you fund your business operations and growth. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Typically, this involves finding the right balance between debt (like loans and bonds) and equity (like issuing stock).<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-equity-financing\"><strong>Equity financing<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Less risky than debt because there\u2019s no strict repayment schedule (and therefore supports a healthy cash flow statement,) but you\u2019ll share profits and give up some control.\u00a0<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-debt-financing\"><strong>Debt financing<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Let\u2019s you keep control but comes with repayment obligations and interest, which can affect your credit if not managed well.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-revenue-cycle-management\"><strong>Revenue cycle management<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Revenue cycle management is especially popular in the US healthcare sector, where it covers everything from patient registration to final balance payments. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This comprehensive approach ensures all steps\u2014like insurance checks, claim submissions, and payment collections\u2014happen smoothly and accurately.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Key revenue cycle tasks include:<br><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Gathering and verifying patient data<\/li>\n\n\n\n<li>Keeping records updated<\/li>\n\n\n\n<li>Ensuring insurance details are correct<\/li>\n\n\n\n<li>Handling billing, coding, and compliance<\/li>\n\n\n\n<li>Submitting and tracking insurance claims<\/li>\n\n\n\n<li>Managing collections and patient payments<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">By staying on top of these steps, healthcare organisations can provide better patient care and maintain a healthy cash flow.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-is-the-difference-between-financial-management-and-management-accounting\"><strong>What is the difference between financial management and management accounting?<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Both financial management and management accounting are essential aspects of modern businesses, but they\u2019re not quite the same.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-management-accounting\"><strong>Management accounting<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Focuses on recording and presenting financial info to help run daily operations. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Think of it as the tool you use to gather data and produce the reports that guide decision-making.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-financial-management\"><strong>Financial management<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">A broader activity meant to ensure your company\u2019s long-term and short-term financial health. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It\u2019s about using resources in the best way possible, setting strategic objectives, and delivering value to investors and other stakeholders.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Financial management typically covers additional areas that management accounting does not, such as:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Ensuring compliance<\/li>\n\n\n\n<li>Setting strategic goals<\/li>\n\n\n\n<li>Agreeing on KPIs<\/li>\n\n\n\n<li>Determining capital structure<\/li>\n\n\n\n<li>Allocating resources<\/li>\n\n\n\n<li>Tracking progress<\/li>\n\n\n\n<li>Managing cash flow<\/li>\n\n\n\n<li>Appraising potential investments<\/li>\n\n\n\n<li>Managing risk<\/li>\n<\/ul>\n\n\n\n<div class=\"single-cta gated-content\">\n\t<div class=\"single-cta__positioner on-scroll-highlight__target\">\n\t\t<div class=\"single-cta__wrapper has-dark-background-color\">\n\t\t\t<div class=\"single-cta__content\">\n\t\t\t\t\t\t\t\t<h2 class=\"single-cta__title h3\">Small business survival toolkit<\/h2>\n\n\t\t\t\t\t\t\t\t\t<div class=\"single-cta__description\">\n\t\t\t\t\t\t<p>Get practical advice to help your business thrive.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\thref=\"#gate-80195606-5387-4569-bfaf-b6a518449b24\"\n\t\t\t\t\t\tclass=\"single-cta__button button button--primary\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t>Download your free guide<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<img decoding=\"async\" width=\"1440\" height=\"810\" src=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2022\/04\/GettyImages-1305268048-1440x810.jpg\" class=\"single-cta__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2022\/04\/GettyImages-1305268048-1440x810.jpg 1440w\" sizes=\"auto, (min-width: 48em) 33vw, 100vw\" \/>\t\t\t<\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-challenges-of-financial-management\"><strong>Challenges of financial management<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">However, there are challenges involved with financial management. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Below are the top financial management challenges that CFOs and financial leaders are facing:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-precision-planning\"><strong>Precision planning<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Putting together highly accurate forecasts and budgeting can be time-consuming. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Plus, it\u2019s not a one-and-done activity; data must be continuously updated to reflect market changes.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-real-time-data\"><strong>Real-time data<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Many finance teams still use manual spreadsheets, which can be slow and prone to errors. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Without access to real-time insights, it\u2019s tough to make informed decisions quickly.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-debt-management\">Debt management<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Without careful oversight, debt can spiral out of control. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Strong visibility into debts, assets, and loans ensures you\u2019re using borrowed funds wisely and maximising profits.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-unforeseen-circumstances\"><strong>Unforeseen circumstances<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Events like natural disasters, market volatility, or global pandemics can derail even the best financial plans. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">That\u2019s why it\u2019s crucial to have contingency strategies in place.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-cybersecurity-threats\"><strong>Cybersecurity threats<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Financial data is a tempting target for cybercriminals. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">IT teams and finance teams need to collaborate closely to keep data safe, especially in an era of evolving online threats.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-disconnected-systems\"><strong>Disconnected systems<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Siloed teams or outdated software can leave you with incomplete data or conflicting strategies.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Aligning systems and departments ensures consistency and reliability of financial information.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-regulatory-and-tax-compliance\"><strong>Regulatory and tax compliance<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Staying compliant with tax laws and regulations\u2014especially for businesses operating across multiple regions\u2014can be stressful and complex.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-5-best-practices-for-effective-financial-management\"><strong>5 best practices for effective financial management<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Despite these challenges, there are five proven ways to build a strong financial foundation:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-1-keep-track-of-budgeting\">1. <strong>Keep track of budgeting<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong> <\/strong>Regularly review your income, expenses, and debts. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Make sure your budget lines up with your business goals, and try your best to stick to it.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-2-complete-regular-financial-audits\">2. <strong>Complete regular financial audits<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Periodic audits help you spot errors or weak spots in your strategy and keep your financial records accurate and up-to-date.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-3-create-strong-internal-controls\">3. <strong>Create strong internal controls<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Audits are just one part of internal controls, which also help reduce the risk of fraud and errors while ensuring compliance.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-4-set-up-a-reserve-fund\">4. <strong>Set up a reserve fund<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Emergencies happen. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Having a reserve fund means your business can weather the storm and come out strong on the other side.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-5-keep-educating-and-growing\">5. <strong>Keep educating and growing<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Stay open to new technologies, training opportunities, and industry best practices. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A continuous improvement mindset helps you adapt to market shifts and stay competitive.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-streamline-your-business-with-financial-management-software\"><strong>Streamline your business with financial management software<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Considering how complex financial management can get, the good news is that technology has kept pace.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&nbsp;Modern software solutions simplify and automate many of these tasks, ensuring compliance, reducing manual workloads, and giving you real-time insights for smarter decisions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Effective budgeting and financial planning software helps to not only automate your processes but also provide multi-dimensional reporting, so you can see exactly where you stand at any given moment.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">By cutting out manual data entry, you\u2019ll save time, reduce errors, and free up your team to focus on what really matters\u2014 growing your business.<\/p>\n\n\n<div class=\"single-cta\">\n\t<div class=\"single-cta__positioner on-scroll-highlight__target\">\n\t\t<div class=\"single-cta__wrapper has-dark-background-color\">\n\t\t\t<div class=\"single-cta__content\">\n\t\t\t\t\t\t\t\t<h2 class=\"single-cta__title h3\">Subscribe to the Sage Advice enewsletter<\/h2>\n\n\t\t\t\t\t\t\t\t\t<div class=\"single-cta__description\">\n\t\t\t\t\t\t<p>Get a roundup of our best business advice in your inbox every month.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\thref=\"#gate-84fe79b5-668d-41f8-a0cc-6229018c4ac9\"\n\t\t\t\t\t\tclass=\"single-cta__button button button--primary\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t>Subscribe<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<img decoding=\"async\" width=\"1440\" height=\"810\" src=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2022\/04\/GettyImages-1181404518-1440x810.jpg\" class=\"single-cta__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2022\/04\/GettyImages-1181404518-1440x810.jpg 1440w\" sizes=\"auto, (min-width: 48em) 33vw, 100vw\" \/>\t\t\t<\/div>\n<\/div>\n\n<section class=\"more-topics alignfull has-grey-light-background-color wp-block-sage-post-topics\">\n\t<div class=\"container\">\n\t\t<div class=\"row\">\n\t\t\t<div class=\"col col-12 col-lg-4\">\n\t\t\t\t<h3 class=\"more-topics__title h2\">Browse more topics from this article<\/h3>\n\t\t\t<\/div>\n\t\t\t<div class=\"col col-12 col-lg-8\">\n\t\t\t\t<ul class=\"post-tags__list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"post-tags__item\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-za\/blog\/tag\/business-intelligence\/\" class=\"post-tags__link button button--secondary\">\n\t\t\t\t\t\t\t\tbusiness intelligence\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"post-tags__item\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-za\/blog\/tag\/business-management\/\" class=\"post-tags__link button button--secondary\">\n\t\t\t\t\t\t\t\tbusiness management\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"post-tags__item\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-za\/blog\/tag\/financial-insights\/\" class=\"post-tags__link button button--secondary\">\n\t\t\t\t\t\t\t\tfinancial insights\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"post-tags__item\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-za\/blog\/tag\/making-financial-decisions\/\" class=\"post-tags__link button button--secondary\">\n\t\t\t\t\t\t\t\tmaking financial decisions\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"post-tags__item\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-za\/blog\/tag\/profit-loss\/\" class=\"post-tags__link button button--secondary\">\n\t\t\t\t\t\t\t\tprofit &amp; loss\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"post-tags__item\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-za\/blog\/tag\/saving-money-in-business\/\" class=\"post-tags__link button button--secondary\">\n\t\t\t\t\t\t\t\tsaving money in business\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"post-tags__item\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-za\/blog\/tag\/staying-competitive\/\" class=\"post-tags__link button button--secondary\">\n\t\t\t\t\t\t\t\tstaying competitive\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t<\/div>\n\t\t<\/div>\n\t<\/div>\n<\/section>\n\n<div class=\"alignfull wp-block-sage-related-posts\">\n\t<section class=\"related-posts card-grid has-dark-background-color\">\n\t<div class=\"container\">\n\t\t\t\t\t<div class=\"row\">\n\t\t\t\t<div class=\"col\">\n\t\t\t\t\t<h2 class=\"related-posts__heading related-posts__heading--featured h1\">Explore more wisdom<\/h2>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\n\t\t\t<div class=\"row related-posts__featured\">\n\t\t\t\t<div class=\"col card-grid__item\">\n\t\t\t\t\t<article\n\t\tclass=\"card-post related-post related-post-0 post-74360 post type-post status-publish format-standard has-post-thumbnail hentry category-money-matters category-strategy-legal-operations tag-accountants tag-business-intelligence tag-profit-loss tag-staying-competitive tag-trending-topics business_type-small-business business_type-medium-business business_type-accountants card-post--is-clickable\"\n>\n\t<div class=\"card-post__media-wrapper\">\n\t\t<figure class=\"card-post__media\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1214\" height=\"810\" src=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2025\/08\/Mar2025_Construction-Commerical_0777-1214x810.jpeg\" class=\"card-post__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2025\/08\/Mar2025_Construction-Commerical_0777-684x384.jpeg 684w, https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2025\/08\/Mar2025_Construction-Commerical_0777-768x512.jpeg 768w, https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2025\/08\/Mar2025_Construction-Commerical_0777-1214x810.jpeg 1214w\" sizes=\"auto, (min-width: 48em) 250px, (min-width: 30em) 100vw, 100vw\" \/>\t\t\t\n\t\t\t\n\t\t\t\t\t<\/figure>\n\t<\/div>\n\n\t<div class=\"card-post__content\">\n\t\t\t\t\t<div class=\"card-post__label\">Recommended<\/div>\n\t\t\n\t\t\t\t\t<div class=\"card-post__meta\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2026-06-25T12:53:32+02:00\">June 25, 2026<\/time><\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"reading-time\">12 min read<\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\n\t\t<p class=\"card-post__title h3\">\n\t\t\t\t\t\t\t<a\n\t\t\t\t\tclass=\"card-post__title-link\"\n\t\t\t\t\thref=\"https:\/\/www.sage.com\/en-za\/blog\/what-is-markup-percentage\/\"\n\t\t\t\t>\n\t\t\t\n\t\t\tMarkup calculator: how to calculate markup\n\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/p>\n\n\t\t\n\t\t\t\t\t<p class=\"card-post__description\">\n\t\t\t\tUse this markup calculator to work out a selling price, cost price, or markup percentage. You will also learn how markup works, how it differs from margin, and how to use it to set prices for your business.\t\t\t<\/p>\n\t\t\n\t\t\t<\/div>\n\n\t<\/article>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\n\t\t\t\t\t<div class=\"row related-posts__non-featured\">\n\t\t\t\t<div class=\"col col-12\">\n\t\t\t\t\t<h2 class=\"related-posts__heading related-posts__heading--more h4\">More on this Topic<\/h2>\n\t\t\t\t<\/div>\n\n\t\t\t\t\n\t\t\t\t\t<div class=\"col col-6 col-lg-3 card-grid__item\">\n\t\t\t\t\t\t<article\n\t\tclass=\"card-post related-post related-post-1 post-76381 post type-post status-publish format-standard has-post-thumbnail hentry category-people-leadership category-technology-innovation tag-artificial-intelligence tag-business-management tag-hr-payroll tag-trending-topics business_type-small-business business_type-medium-business\"\n>\n\t\t\t<a\n\t\t\tclass=\"card-post__link\"\n\t\t\thref=\"https:\/\/www.sage.com\/en-za\/blog\/what-is-ai-in-hr\/\"\n\t\t\t\t\t>\n\t\t\t<figure class=\"card-post__media\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"684\" height=\"384\" src=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2026\/06\/Ai-in-HR-infographic-image-684x384.jpg\" class=\"card-post__image\" alt=\"A woman stands in front of the Sage glowline with a black background.\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2026\/06\/Ai-in-HR-infographic-image-684x384.jpg 684w, https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2026\/06\/Ai-in-HR-infographic-image-768x432.jpg 768w, https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2026\/06\/Ai-in-HR-infographic-image-1440x810.jpg 1440w\" sizes=\"auto, (min-width: 48em) 250px, (min-width: 30em) 100vw, 100vw\" \/>\t\t\t\n\t\t\t\n\t\t\t\t\t<\/figure>\n\n\t\t\n\t\t\t\t\t<div class=\"card-post__meta\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2026-06-23T13:19:28+02:00\">June 23, 2026<\/time><\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"reading-time\">11 min read<\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\n\t\t<p class=\"card-post__title h5\">\n\t\t\tWhat is AI in HR and how can you use it responsibly?\t\t<\/p>\n\n\t\t\t<\/a>\n\t\n\t\n\t\t\n\t\n\t<\/article>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t<div class=\"col col-6 col-lg-3 card-grid__item\">\n\t\t\t\t\t\t<article\n\t\tclass=\"card-post related-post related-post-2 post-76358 post type-post status-publish format-standard has-post-thumbnail hentry category-money-matters category-strategy-legal-operations tag-accountants tag-audit tag-bookkeeping tag-business-intelligence tag-profit-loss business_type-small-business business_type-medium-business business_type-accountants\"\n>\n\t\t\t<a\n\t\t\tclass=\"card-post__link\"\n\t\t\thref=\"https:\/\/www.sage.com\/en-za\/blog\/accounts-payable-reports-guide\/\"\n\t\t\t\t\t>\n\t\t\t<figure class=\"card-post__media\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"684\" height=\"384\" src=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2019\/07\/resize-1675x1275-38-684x384.jpg\" class=\"card-post__image\" alt=\"Two businesswomen looking at report on tablet\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2019\/07\/resize-1675x1275-38-684x384.jpg 684w, https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2019\/07\/resize-1675x1275-38-768x585.jpg 768w, https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2019\/07\/resize-1675x1275-38-1064x810.jpg 1064w\" sizes=\"auto, (min-width: 48em) 250px, (min-width: 30em) 100vw, 100vw\" \/>\t\t\t\n\t\t\t\n\t\t\t\t\t<\/figure>\n\n\t\t\n\t\t\t\t\t<div class=\"card-post__meta\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2026-06-04T12:39:10+02:00\">June 4, 2026<\/time><\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"reading-time\">10 min read<\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\n\t\t<p class=\"card-post__title h5\">\n\t\t\tThe ultimate guide to accounts payable reports and reporting\t\t<\/p>\n\n\t\t\t<\/a>\n\t\n\t\n\t\t\n\t\n\t<\/article>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t<div class=\"col col-6 col-lg-3 card-grid__item\">\n\t\t\t\t\t\t<article\n\t\tclass=\"card-post related-post related-post-3 post-76331 post type-post status-publish format-standard has-post-thumbnail hentry category-money-matters category-trends-insights tag-accountants tag-audit tag-bookkeeping tag-business-intelligence tag-business-management tag-profit-loss tag-staying-competitive tag-tax business_type-small-business business_type-medium-business business_type-accountants\"\n>\n\t\t\t<a\n\t\t\tclass=\"card-post__link\"\n\t\t\thref=\"https:\/\/www.sage.com\/en-za\/blog\/accounts-payable-process\/\"\n\t\t\t\t\t>\n\t\t\t<figure class=\"card-post__media\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"684\" height=\"384\" src=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2019\/04\/GettyImages-175138802_super-684x384.jpg\" class=\"card-post__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2019\/04\/GettyImages-175138802_super-684x384.jpg 684w, https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2019\/04\/GettyImages-175138802_super-768x585.jpg 768w, https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2019\/04\/GettyImages-175138802_super-1064x810.jpg 1064w\" sizes=\"auto, (min-width: 48em) 250px, (min-width: 30em) 100vw, 100vw\" \/>\t\t\t\n\t\t\t\n\t\t\t\t\t<\/figure>\n\n\t\t\n\t\t\t\t\t<div class=\"card-post__meta\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2026-06-04T11:51:14+02:00\">June 4, 2026<\/time><\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"reading-time\">8 min read<\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\n\t\t<p class=\"card-post__title h5\">\n\t\t\tWhat is the accounts payable process? Steps, workflow and how to improve it\t\t<\/p>\n\n\t\t\t<\/a>\n\t\n\t\n\t\t\n\t\n\t<\/article>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t<div class=\"col col-6 col-lg-3 card-grid__item\">\n\t\t\t\t\t\t<article\n\t\tclass=\"card-post related-post related-post-4 post-76286 post type-post status-publish format-standard has-post-thumbnail hentry category-money-matters category-trends-insights tag-accountants tag-bookkeeping tag-business-intelligence tag-data-analysis tag-financial-insights tag-making-financial-decisions tag-profit-loss tag-trending-topics business_type-small-business business_type-medium-business business_type-accountants\"\n>\n\t\t\t<a\n\t\t\tclass=\"card-post__link\"\n\t\t\thref=\"https:\/\/www.sage.com\/en-za\/blog\/accounts-payable-reconciliation\/\"\n\t\t\t\t\t>\n\t\t\t<figure class=\"card-post__media\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"684\" height=\"384\" src=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2021\/11\/HR-and-Payroll-image--684x384.jpg\" class=\"card-post__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2021\/11\/HR-and-Payroll-image--684x384.jpg 684w, https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2021\/11\/HR-and-Payroll-image--768x513.jpg 768w, https:\/\/www.sage.com\/en-za\/blog\/wp-content\/uploads\/sites\/9\/2021\/11\/HR-and-Payroll-image--1213x810.jpg 1213w\" sizes=\"auto, (min-width: 48em) 250px, (min-width: 30em) 100vw, 100vw\" \/>\t\t\t\n\t\t\t\n\t\t\t\t\t<\/figure>\n\n\t\t\n\t\t\t\t\t<div class=\"card-post__meta\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2026-05-22T12:28:04+02:00\">May 22, 2026<\/time><\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"reading-time\">9 min read<\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\n\t\t<p class=\"card-post__title h5\">\n\t\t\tThe ultimate guide to accounts payable reconciliation\t\t<\/p>\n\n\t\t\t<\/a>\n\t\n\t\n\t\t\n\t\n\t<\/article>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n<\/section>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Financial management covers all the processes necessary for secure control of a business&#8217;s monetary resources.<\/p>\n","protected":false},"author":1398,"featured_media":403,"menu_order":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sage_video":false,"post_featured_image_hide":false,"sage_hide_published_date":false,"sage_hide_read_time":false,"sage_hide_share_buttons":false,"_pwl_sage_podcast_buzzsprout_src":"","footnotes":""},"categories":[25,27,29],"tags":[315,166,189,335,339,208,209],"business_type":[2],"lilypad":[],"context":[],"industry":[],"persona":[15,16],"imagine_tag":[63,353,68,83,85],"coauthors":[404],"class_list":["post-73164","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-money-matters","category-strategy-legal-operations","category-trends-insights","tag-business-intelligence","tag-business-management","tag-financial-insights","tag-making-financial-decisions","tag-profit-loss","tag-saving-money-in-business","tag-staying-competitive","business_type-small-business"],"sage_meta":{"region":"en-za","author_name":"Ryan 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