How to protect 🛡️ your business with stronger financial controls | ApprovalMax + Xero

Financial controls enable accountable growth by distributing responsibility across teams… Today I’m speaking with: Meena Berry, Senior Partnership Manager, Xero  Cassandra Scott, Head of Bookkeeping, ApprovalMax Brendan Lucas, Head of Accounting, ApprovalMax In this episode, we discuss: - ApprovalMax & Xero survey results revealing many businesses lack key financial controls - Stories of businesses defrauded due to inadequate internal verification processes - How financial controls enable accountable growth by distributing responsibility across teams - The importance of supplier verification and approval processes in mitigating fraud and non-compliance risks - The role of audit trails, budget checks, and real-time alerts in enhancing financial oversight - Case studies demonstrating how ApprovalMax and Xero streamline approval workflows - The significance of continuously improving controls as businesses scale Key takeaways: - Revisit and continuously improve your financial controls - Discuss the value of financial controls with clients - Check E-invoicing capabilities in Xero and get registered Contact details: Accounting Apps newsletter: http://HeatherSmithAU.COM Accounting Apps Mastermind: https://www.facebook.com/groups/XeroMasterMind  LinkedIn: https://www.linkedin.com/in/HeatherSmithAU/  YouTube Channel: https://www.youtube.com/ANISEConsulting  X: https://twitter.com/HeatherSmithAU  Brendan Lucas https://www.linkedin.com/in/brendanlucasca/ Cassandra Scott https://www.linkedin.com/in/cassandrascott/ Meena Berry https://www.linkedin.com/in/meenaberry/   

Om Podcasten

Exploring the intersections of accounting, technology and modern practice methodologies. Hosted by Heather Smith, an award winning Chartered Accountant with a flair for storytelling. Heather is obsessed with how effective automation and integration can produce timely clean data, to surface information for brave, fast data-informed decision making. Better data, better decisions, better business. She explores this topic with her guests, uncovering insights that offer you a competitive edge. Delve deeper into the Accounting Apps landscape and enhance your understanding. The podcast promises enlightening discussions in the fields of accounting, technology and artificial intelligence. Hit that subscribe button now! Subscribe to the Accounting Apps newsletter: http://AccountingApps.io Join the free Accounting Apps community to continue the conversations. https://www.facebook.com/groups/XeroMasterMind Brilliant guests include entrepreneurs, founders, business consultants, accountants, bookkeepers, small business owners, cloud advisors, developers, cloud integrators and solution providers. Each month guests share how they built their business and how your business or clients can use technology to be more effective and efficient. This may include exploring: *How you can implement and integrate business tools with your online accounting software to automate processes, improve productivity, and profitability; *How to build a business developing business apps; or *How to build a tech stack that meets your business needs or introduce your clients to them. Contact details: LinkedIn: https://www.linkedin.com/in/HeatherSmithAU/