Importance of Accurate Financial Tracking

Some business owners treat bookkeeping like a chore. Others see it for what it truly is; a superpower. Here’s the truth: If you’re not consistently tracking your numbers, you’re not in control of your business. You’re running it blindfolded. Cash flow problems don’t start the day your account hits zero. They start long before that, the moment you stop paying attention to: 1. Where your money is coming from 2. Where it’s going, and; 3. What story your numbers are telling. Accurate, up-to-date financials give you the power to: ✅ Plan for growth with confidence ✅ Make smarter, faster business decisions ✅ Catch issues before they become expensive mistakes ✅ Sleep better knowing you're not leaving money (or compliance) on the table Clear financials don’t just make tax season and planning easier They make your business stronger year-round. Because in the end, what separates struggling businesses from successful, profitable ones isn’t just hard work… It’s financial clarity.

ERP data accuracy is a huge silent threat to financial health and business value. Accurate financial data is non-negotiable for any org but it's also what functional groups rely on to make informed strategic decisions But data mistakes aren't an occasional glitch, at Tango we hear from many companies on NetSuite, S4/Hana, Infor, Sage and other systems that talk about incorrect data entry, poor process adherence, and broader failures in data governance. And it reflects as a failure in operations and enablement of the systems. So many teams are dependent on an ERP being accurate and reliable: → accounting & finance: managing accounts payable/receivable, general ledger, and financial planning and analysis. → supply chain + procurement teams: tracking inventory levels, orders, and supplier information. → HR team: handling payroll, employee records, and compliance tasks. → manufacturing (production team): Monitoring production schedules, work orders, and product quality. → customer relationship management (CRM Team): Overseeing customer orders and service requests An ERP is your financial system of record - it's the log of every interaction on your financial journey, and it's the nerve center for all these teams. Bad data drives the wrong activity. Wrong activities leave money 💵 on the table and risks financial mis-management. It's a real Achilles' heel and the cost of inaction always compounds. Best advice: invest in ERP operations and enablement early - clearly understand what's at stake, have key internal owners, and take a modern training and enablement approach with your software. Tango can help. 

99% right in Finance is as good as 100% wrong. In most business areas, getting things right 99% of the time is a good achievement. But in Finance, even a 1% margin of error doesn’t work. Here’s why: 📊 Precision Matters: A 1% error in financial reporting, forecasting, or compliance can lead to significant consequences—whether it's misaligned strategy, regulatory fines, or lost trust. 🛡️ Risk and Compliance: Regulatory requirements demand flawless reporting, and even a tiny mistake can create exposure to legal or reputational risk. Accuracy isn’t just important—it’s non-negotiable. 💼 Business Impact: A minor gap in cost tracking or revenue recognition can snowball into larger issues that affect profitability, cash flow, and decision-making. Financial leaders need complete, real-time visibility to make informed, data-driven decisions. 🔍 Trust and Credibility: CFOs and their teams are trusted with safeguarding the company’s financial health. Any inconsistency erodes that trust. 100% accuracy is essential for maintaining credibility with internal stakeholders, shareholders, and regulatory bodies. When it comes to finance, it’s not about being "almost right"—it’s about being right every time. #Finance #Accuracy #BusinessImpact #Leadership #CFO

Your gentle Monday push: GET YOUR NUMBERS IN ORDER. If you can't track profitability, you can't make smart decisions. But too many small businesses operate from a spreadsheet. (Guilty! 🙋) Can you easily… — pull up a revenue report? — see how profitable each offer is? — view a breakdown by revenue stream? Just a couple of months ago, I could not say YES to any of these questions. Sure, we could crunch the numbers, but only after lots of messy spreadsheets — and not with the precision we needed. What we eventually discovered: one of our revenue streams was FAR more profitable than we’d assumed. And one was FAR less profitable than we’d assumed. 😬 Don't be like me (and wait so long). GET YOUR FINANCIAL TRACKING SET UP. Maybe the product you think is your biggest moneymaker is the least profitable — once you factor in time + resources. Maybe a small but steady revenue stream quietly outperforms your high-ticket offer. Maybe a service that feels like a core part of your business is actually draining your margins. The only way to know is with clear financial tracking. Without it, you’re making decisions in the dark. Know your numbers >>>  double down on what works >>> cut the flab. Shoutout to Joel K. for pushing me to (finally) take care of this. If you need smart, clear guidance as a CEO or solopreneur, you should reach out. And shoutout to Yechiel Steinberg, CPA for helping us set up a system that makes financial tracking a breeze. 🙏 Now, we can instantly pull up the numbers that matter most — and identify where to double down, what to retire, and what to optimize. TL;DR Strong bookkeeping system = ability to make smart, profitable decisions. P.S. -- This was neither solicited nor sponsored. I just believe in spreading the word about people who do good work. #michaleisik #finances #business