The Basic Principles for Achieving Success through Accurate Financial Analysis and Management Automation of the Organization
Sargis Galstyan *
Armenian State University of Economics, Armenia.
Karlos Margaryan
Armenian State University of Economics, Armenia.
*Author to whom correspondence should be addressed.
Abstract
This article is a scientific research, where are highlighted such issues as effective management and control of the financial resources. Taking as a basis international experience and own approaches, we offer some solutions, which can significantly contribute to the improvement of the business processes within an organization. In particular, giving businesses the right to operate more freely by reducing administrative impact, and automating various processes within the organization will enable the transition from resource-intensive management to resource-saving management, which in the long run will improve organization’s competitiveness in both domestic and foreign markets. In this article the authors also refer to the system of cost normalizations within The Eurasian Economic Union (EAEU) member states, revealing the gaps in some legislative acts and provisions, and suggesting the use of alternative mechanisms.
Keywords: Inflation substitute, elasticity, efficiency, cost estimation methodology, SMEs, CRM system, imposed technologies.