As your business grows and becomes established, finance should move from being largely historical to being pro-active, using financial information as a tool to strengthen and grow your business. Integrated financial management provides insights on the financial performance to date, allowing for changes to be implemented to improve future performance. The result is full visibility of your business so you can take advantage of opportunities and react quickly to any issues & problems as they arise.
Tools to strengthen and enable growth in your business
– Integration of the finance resource within the business.
– Monthly Management accounts, including kpi’s, and analysis of your most profitable customers, products, services and contracts.
– Tracking of actual results against expected results and analysis of variances.
Management Accounts Review
Senior Management as a team review the financial performance of the business on a monthly basis to identify problems or potential issues and implement solutions.
Key Performance Indicators
The company know their most profitable customers and products/services/contracts and constantly monitor this information for changes and risks.
Budget Forecasting and Outlook
Senior Management as a team actively measure their sales and expenditure against forecasts, and constantly work to find ways to increase margin by reviewing revenue, costs, and efficiencies in the business.
The senior management team have an agreed policy to identify business risks from internal and external sources. Treasury management is a key area of risk and one where management can, through having an agreed policy, take control over the risk.