Cigma Business Blog

In terms of evaluating how a business is performing, financial data are assessed. Financial management is involved in any business operation as business activities are financed in any level and every institution should examine its finances. This task has been topped by financial manager Eric Visselli.

Indeed, financial management is not just about business because it should start with how an individual takes care of his expenses and finances based on his resources. Often, this is obtained when his expenses include more than his income. Excess cash or funding resources are invested to make up for tax demands and bypass the impacts of inflation. This simple manifestation is already a form of financial management. Financial management in a business structure is related to financial control and planning where financial managers such as Eric Visselli lead in managing funds in connection to the budget of the company. Managers like him also take care of the finances of the business to achieve different goals set by the company to generate significant amounts of profit. Strengthening the company’s level of resources and taking control of the usage of money placed in by some external investors is also a duty of a financial manager. These external investors spend their money for the business because of their strong trust to the company and they want to get a substantial return on investment. These expectations should be met by an excellent financial manager. A financial manager like Visselli makes sure that they make firm financial management strategies for the company they are serving.

Having an education at Rensselear Polytechnica Institute and Southern Connecticut State University, Eric Visselli is equipped with the knowledge on how basic long-term plans should be put into action for a company’s financial progress. Being the chief financial officer (CFO) of Hamilton Sundstrand and Auxiliary Power Systems, Visselli strategically creates plans according to what he observes on the company’s financial standing.

Visselli had been responsible for financial plans that are meant to enhance return on sales (ROS) by 10 percent by the year 2015. This man also established a plan to reduce costs that aims to cut down the $100 million worth of materials for a five-year period by utilizing sources that are less costly. These well-thought plans of Eric Visselli pushed Auxiliary Power Systems to success and exceeded its financial forecast and EBIT plan by 35 percent. His plans depicted his determination to improve the financial status of the company. He makes sure that his plans will not only tackle present issues but also to stop problems from happening in the future.