"Customer First" is the Ultimate Goal of Process Improvements

Published April 22, 2024 By Peggy Maranan

Customer-centric finance departments
Expectations for finance departments are increasing. Processes are becoming more complex. Regulations continue to increase. Those that rely on financial information to perform key business tasks are demanding the ability to make faster decisions. The finance department needs to keep changing and improving to keep up with these expectations. Efficiency and process improvement are a necessity because the department just can’t keep adding costs. A finance department is an integral part of the cooperative as a support service for managing all financial processes and decisions. It controls income and expenditures while also ensuring the business is operating under financially sound practices. Some of the key functions that a finance department fulfills include procure-to-pay, order-to-cash, treasury management, financial planning and analysis, tax reporting, accounting and financial reporting, payroll processing, and strategic planning support.

NSAC's specialized technical journal, The Cooperative Accountant (TCA), tailored exclusively for its members, has unveiled its Spring 2024 edition. Explore the content online or opt to download and print the PDF.

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