Five Steps to Improve the Financial Management of Your Airport

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The accounting staffs at most airports are asked to do the impossible: provide accurate and up-to-date financial information to executives while using out-dated or exceedingly basic financial software. That would be like asking Jimmy Hendrix to put on a concert while playing a kid's toy guitar. Hendrix would produce something okay, but nothing close to what he could do with a real guitar. Financial data and reporting is the same way. The value of your data is equal to the investment you put into it.

Here are some things your accounting department may be struggling with:

  1. Lack of Integration with Other Systems
  2. Lack of Analysis
  3. Ability to Score Metrics
  4. Outdated Chart of Accounts
Those are some big issues. However, they are not unsolvable. The right business solution coupled with the appropriate business intelligence application can assist your accounting department in delivering better financial reporting and management.