financial management system

USAGE SUMMARY

The phrase "financial management system" is correct and usable in written English.
You can use it anytime you need to refer to a system used to oversee and track finances. For example, "Our company hired an independent consultant to help us improve our financial management system."

✓ Grammatically correct

News & Media

Science

Formal & Business

Human-verified examples from authoritative sources

Exact Expressions

27 human-written examples

"It is clear from our audit that there continue to be lapses in the financial management system in Sierra Leone," the report said.

The Guardian

Mr. Ramanathan made himself an expert in public finance, and spent two years reforming Bangalore's chaotic financial management system, now ranked among the world's best.

The New York Times

The database will be updated daily and uses the city's financial management system to record all city expenditures, Mr. Liu said.

The New York Times

This won't be easy, there are difficult challenges ahead and my priority list will be long, I am sure: the inspection model, the new ratings system and the financial management system for corporate providers to name just three.

The Guardian

Michael P. Jacobson, a former budget official in New York City who helped the Nassau Legislature prepare a fiscal plan last fall, said he was left feeling that Nassau's financial management system was completely nonexistent.

The New York Times

But for an accounting and financial management system, he decided cloud-based services were more sophisticated and flexible than anything he was likely to build, and he selected offerings from Intacct.

The New York Times

Human-verified similar examples from authoritative sources

Similar Expressions

33 human-written examples

Since budget support is pooled with general government revenue and allocated, disbursed, managed and accounted for using country budgeting processes and financial management systems, it provides recipient governments the greatest control and ownership; as such, this modality would be expected to align closely with the government's stated priorities.

Globalization and Health

LAWRENCE F. DAVENPORT knows all about financial management systems and best-practice standards.

The New York Times

Useful reforms have been suggested, from better financial management systems to more stringent lobbying laws.

The New York Times

The financial management systems and procedures have been overhauled to ensure proper accountability for public money," the DfE said.

The Guardian

"Brac has a proven track record of delivering results and value for money, and has robust financial management systems which enable it to account effectively for donor funds".

The Guardian

Expert writing Tips

Best practice

When writing about "financial management system", consider using specific examples or case studies to illustrate the system's impact on an organization's performance.

Common error

When discussing a "financial management system", avoid using overly technical jargon that may not be understood by all stakeholders. Instead, use clear and concise language to explain the system's features and benefits.

Linguistic Context

The phrase "financial management system" functions as a noun phrase, typically serving as the subject or object of a sentence. Ludwig shows it's often used to describe the tools, processes, and frameworks used to manage an organization's finances.

Expression frequency: Uncommon

Frequent in

News & Media

32%

Science

32%

Formal & Business

24%

Less common in

Wiki

4%

Encyclopedias

0%

Social Media

0%

Ludwig's WRAP-UP

The phrase "financial management system" is a grammatically correct and usable term, categorized as a noun phrase commonly found in news, scientific and formal business contexts. Ludwig AI confirms this, indicating its role in describing frameworks for overseeing finances. While alternative phrases such as "budgeting system" or "accounting system" exist to emphasize specific aspects, "financial management system" provides a general term. When writing about this concept, avoid technical jargon to maintain clarity. Effective use involves specifying the scope and objectives of the system, illustrating its impact with examples. High authority sources like The New York Times and The Guardian, use this expression.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

budgeting system

Focuses specifically on the budgeting aspect of financial management.

accounting system

Emphasizes the recording and reporting of financial transactions.

fiscal control mechanism

Highlights the controlling aspect of financial management.

financial oversight framework

Focuses on the supervisory aspect of managing finances.

resource allocation platform

Stresses the allocation of resources within a financial system.

expenditure tracking system

Highlights the tracking of expenditures within the system.

financial administration structure

Focuses on the organizational structure of financial administration.

monetary management protocol

Emphasizes the rules and procedures for managing finances.

enterprise resource planning (ERP) system

Broader term encompassing financial management alongside other business functions.

financial planning and analysis (FP&A) system

Focuses on planning and analyzing financial data.

FAQs

How can I effectively use "financial management system" in a sentence?

Use "financial management system" to refer to the processes and tools used to manage an organization's finances, for instance: "The company implemented a new "financial management system" to improve budgeting and forecasting."

What are some alternatives to the phrase "financial management system"?

You could use terms like "budgeting system", "accounting system", or "fiscal control mechanism" depending on the specific aspect you want to emphasize.

What's the difference between a "financial management system" and an ERP system?

A "financial management system" focuses specifically on financial processes, while an "enterprise resource planning" (ERP) system integrates various business functions, including finance, human resources, and supply chain management.

Why is having a robust "financial management system" important?

A robust "financial management system" ensures accurate financial reporting, effective budget control, and compliance with regulations, which are essential for making informed business decisions and maintaining financial stability.