Complex and sometimes not easy, the task of managing financial control is not for everyone, especially when it comes to a business. However, although complex, it is a task of immense importance and necessity. According to the IBGE, 6 out of 10 businesses close their doors before they are five years old, and the reason is usually linked to finances.
Knowing that you don't want to be part of that statistic next year, we've put together some points on why this process is so important and what impacts good financial control can have throughout your pet shop's journey. Let's go?
But what is the importance of financial control?
Financial control is nothing more than knowing every penny that goes in and out of your business. It means having full knowledge of your company's financial condition and this can only be achieved through financial reports.
It is through these financial reports that the administrator has a real vision of the situation of his pet shop and is able to make decisions so that in the midst of countless expenses and market fluctuations, his business remains sustainable. Moreover, it is only through data and metrics that new directions and achievements can be mapped out with greater certainty.
Based on this, we've put together 3 special topics to show you some of the benefits of good financial control.
- Company Overview
With financial control in hand, it is possible to have a global view of the company in terms of available or unavailable resources, waste and needs. Problems can also be found, diagnosed and sometimes even avoided more quickly. Which brings us to the next topic...
- Agile decision-making
With organized data, consulting it becomes even more enjoyable. As a result, managers have more baggage and a higher percentage of correct decision making, thus avoiding management that only puts out fires, giving way to proactive management, which anticipates when it comes to taking plans off the drawing board, for example.
- Long-term planning
The data generated today is not only useful for seeing what has happened, but also for planning what is to come. Knowing where we've come from and what we have makes it easier to plan for the long term. Data gives us the opportunity to predict and avoid risks, outline the business's continued growth and have better commercial and administrative guidelines for the company's future.
So, have we managed to convince you that financial control is the basis for the growth and success of your pet shop? Remember: those who prioritize the management of their company's finances are always up to date on the monetary resources that exist and are available at the moment, and also have up-to-date delinquency control, another extremely important topic - even more so in times of pandemic - where whoever collects first, gets paid first.
Through financial control you can ensure that other pillars are well structured, thus generating more profitability and greater growth for your business.
Ready to start controlling your pet shop's finances?
Did it seem too complicated to have all this control and enjoy all these benefits? We have good news: management software for pet shops provides agility and reduces serious errors that can occur in manual control. This gives you more dynamic and reliable control over the financial health of your business.
With automated software, it's much easier to record all your pet shop's information and quickly and intuitively see how the company's financial health is doing.
The ZettaPET ERP system is an excellent tool to help you take care of your pet shop's financial health, with detailed control over stocks, sales and financial management: from cash flow to DRE and the evaluation of your working capital. Best of all, with an automated management system, you gain time to focus on what really matters: serving your customers.