Here is a short summary of our strategic business advisory service:
Stage 1 – Basic Review
We’ll review up to three years of your financial and management reports. The aim is to look at what they tell us about the performance of your business. We will consider actual reported figures and analyse how sales and costs are increasing or decreasing. We’ll also look for abnormalities and unexpected trends in your numbers. Most limited companies now claim exemption from having an audit. Consequently, many accountants simply rely on the company’s own reports to publish year-end accounts, without analysing whether the figures make sense. We have developed a checklist to assess your financial systems and determine if the accounts are based on reliable information.
At this stage, if we have any areas of concern about how your systems are set up, we might recommend our Business Health Check service.
Stage 2 – Understanding
We will carry out a detailed analytical review of your business numbers to interpret how your business is performing. We’ll evaluate your Key Performance Indicators (KPIs) and what these say about the viability of your business. Most importantly, with your help, we’ll identify which of your KPI’s are important to your customers. And also, what those KPI’s mean in terms of customer loyalty that leads to repeat business and recommendations. By understanding your management accounts and evaluating your KPI’s, we can build the foundation to offer you proactive business advice.
Stage 3 – Planning
Once we have an understanding of your historical figures, we can begin to identify areas of weakness in your business. This will help you to develop a forward-looking strategy. We can give you valuable insight into where you can improve your business systems with a view to increasing profit. And with this information, we’ll help you to create a strategy to monitor how the changes will drive your profits.
Stage 4 – Improvement
This is where you put your plan into action. We’ll work with you to implement and evaluate your new business strategy. Working with your finance department, we do not focus on crunching numbers, what we provide is professional advice on all areas of your business finances.
