Collaboration between departments fosters financial success from "summary" of Financial Intelligence, Revised Edition by Karen Berman,Joe Knight
When departments work together, they can achieve financial success. This collaboration is essential because each department plays a unique role in contributing to the overall financial health of the organization. For instance, the sales department brings in revenue through sales, while the finance department manages the company's finances. When these departments collaborate effectively, they can align their goals and strategies to maximize profitability.
Collaboration between departments also helps to streamline processes and eliminate inefficiencies. For example, the marketing department may have valuable insights into customer preferences that can help the sales department target the right customers. By sharing information and working together, departments can identify areas for improvement and im...
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