Definition: Financial flows management refers to the use of IT systems and software to monitor, control, and optimize the movement of money within an organization. It involves tracking income and expenses, managing investments, and planning for future financial needs. Source: Investopedia Source reference: https://www.investopedia.com/terms/f/financial-management.asp Additional information: Financial flows management is a crucial aspect of any business, regardless of its size. It involves the use of IT systems to manage all financial transactions, including sales, purchases, payroll, and investments. These systems provide real-time visibility into the organization's financial health, enabling managers to make informed decisions. They also automate routine tasks, reducing errors and freeing up staff to focus on more strategic activities. Furthermore, they facilitate compliance with financial regulations by maintaining accurate records and generating necessary reports. Example: Examples of financial flows management applications include accounting software like QuickBooks, which tracks income and expenses; payroll systems like ADP, which manage employee compensation; and investment platforms like Bloomberg Terminal, which provide tools for managing investments. Additionally, enterprise resource planning (ERP) systems like SAP often include modules for financial management. LOST view: OV-Digital Public Services Catalogue Identifier: http://data.europa.eu/dr8/egovera/FinancialFlowsManagementBusinessService EIRA traceability: eira:DigitalPublicBusinessService ABB name: egovera:FinancialFlowsManagementBusinessService EIRA concept: eira:ArchitectureBuildingBlock Last modification: 2023-07-27 dct:identifier: http://data.europa.eu/dr8/egovera/FinancialFlowsManagementBusinessService dct:title: Financial flows management Digital Public Service