Reducing key-person dependency in finance
Summary
On a finance team, there is always a looming threat of one or a few individuals being the only people capable of performing a key task, either because of their skills, knowledge or experience. When your finance team has strong working relationships with colleagues, the results are better business execution, higher efficiency rates and increased productivity. Better collaboration also reduces the likelihood of key person dependency because all of your finance team will be encouraged to share ideas, knowledge and their workload with each other. Having spoken to many customers managing rebates we have found the majority are working off manual, error prone spreadsheets mainly because they’re what finance are used to and widely available. Removes key person dependency risk – Everyone in your finance team will have access to the rebate management software and because of the audit trail you can see who has amended what etc.
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