Planning and budgeting
"The essence of strategy is choosing what not to do." - Michael Porter
Working alongside the senior management team, both on an individual basis and as a group, we will help to identify the organisation's strategic goals. Once these goals are clear, we will continue to support the senior management team in choosing the most appropriate courses of action to achieve those goals.
Planning and budgeting
"Plans are nothing; planning is everything" - Dwight D Eisenhower
Having a clear business plan, supported by budgets means that you can focus on delivering that plan, rather than wondering where the business will be in 12 months time.
Through working closely with key personnel, we will build a financial model of and for the business. This will reflect what you do at present, what you want to happen over the next 2 to 3 years and what you think is most likely to happen.
With this in place and linked to the strategic goals of the business, we will help you to create your longer term business plan, giving you a clear route to follow.
"Never take your eyes off the cash flow because it's the life blood of business." - Richard Branson
Cashflow management is vital in any business, no matter how successful.
We will review your current debtor collection and supplier payment processes in order to identify areas for improvement. We will also look at the funding structure of the business to determine whether there are more efficient alternatives - say leasing assets as opposed to buying them.
Armed with this information, we can create a cashflow forecast model which can be used for weekly and monthly cash requirement estimates.
"Turnover is vanity, profit is sanity...." - often quoted, but difficult to follow.
Driving sales is seen as the easy win in many businesses because it has an immediate impact on how the figures look, but if no attention is paid to the cost of delivering those sales, profit becomes a distant target.
By working with senior management, we will help to identify customers that are disproportionately expensive to retain as well as those who are unprofitable; we will also help to identify the cost drivers in the business and look at the current cost base. With this data and with input from senior management we will devise a profit improvement plan and provide support to implement the measures needed to succeed.
"A budget tells us what we can't afford, but it doesn't keep us from buying it." - William Feather
With the advent of services such as crowdfunding and micro loans alongside more established forms of lending such as asset based finance, your bank is no longer the only place to get funding.
Depending on the needs of the business, we can carry out a review to determine what type of funding would be best suited. Form there, we can prepare forecasts to be used in applying for funding as well as liaising with lenders on behalf of the business.
We have raised finance for: trade and asset purchases; trade loans for stock from overseas suppliers; asset purchases; leasing agreements etc.
"Keeping the risk management plan up to date can transform it from a door stop into a vital project management tool. Remember: what you don't know can kill your project." - Bruce Pittman
Understanding the risks both internal and external faced by your organisation allows you to develop processes and controls to minimise the impact of those risks.
Our team has experience of risk management in a number of organisations and will help you to create a suitable risk register for your business. We will provide you with the necessary support to help you identify new risks as they arise, as well as keeping your risk register up to date.
"You cannot steal somebody's intellectual property. Law and justice protect." - Bikram Choudhury
Protecting your Intellectual Property (IP) is an essential part of your business strategy. IP covers a range of concepts and could be as simple as copyright or trademarks, or more complicated such as trade secrets, patents, designs, circuit layout rights and even plant breeder's rights.
In broad terms, IP is about the ownership of ideas or a collection of ideas and concepts. We can help you identify potential intellectual assets and from there determine what protection may be available to you.
We are now able to offer bookkeeping services with experience on a range of systems, as well as providing support for your existing team.
Please contact us to discuss your requirements.