Knowledge is not only one of the company’s core resources, but also forms the basis when defining the company’s management strategies, such as mission, goals, vision, plans and strategies.
Knowledge management aims to optimise its use to improve business performance, especially profitability.
Profitability, alongside profit, occupies a fundamental place among the objectives of companies /enterprises and profitability ratios, alongside liquidity, operating efficiency and the company’s indebtedness, constitute the basic group of ratios used in financial analysis.
There are many factors that can improve the profitability of a farm. A professional advisor will identify areas of the farm where changes are necessary. In addition, a professional advisor can advise on how to automatically generate reports related to the farm’s activities, for example:
- sales reports,
- stock reports,
- production reports,
- financial reports.
He or she may also recommend ongoing monitoring of relevant financial indicators affecting the improvement of the farm’s profitability, e.g.:
- the financial result for the period in question,
- bank account balances,
- values of taxes during the period before and after settlement.