Sharp eyes prioritise.
Experienced hands help.
We work with finance functions to tackle burning issues, gaps and change projects.
What we put right
Every situation has a slightly different set of challenges and start point. However, most of what we do can be found in the following list:
Re-designing management & financial information
We start by being clear about strategic intent. What is the goal? What do we have to get right? Not every business has figured this out explicitly so a series of interviews with the key users of the information is always enlightening. We talk to senior management, the board of directors, owners and lending banks – we help management design the full suite of management and financial information necessary to manage their businesses more effectively and monitor progress against their plans more closely.
Reporting more quickly
We pinpoint the constraints to reporting management information more quickly and work with the management team to remove those constraints as quickly as possible. This invariably spells compromise and trade-off in the short term before more robust longer term solutions are available.
Improving the performance and productivity of the finance team
Having reviewed the existing structure, capabilities and priorities of the finance team our recommendations based on significant experience gained from other more effective finance groups often include things such as revised structures, more clarity over roles, responsibilities and priorities, improved communication of those priorities and in certain cases targeted recruitment of one or two additional heads. Once implemented, these changes lead to significant improvement in the performance of the finance function and how it relates to the rest of the business.
Planning, budgeting and cash management
A select few businesses can claim to have cracked planning & budgeting. We’ve plenty of experience managing these processes which can be brought to bear. This could be for fast growing business whose financial management in these areas lacks maturity. Or for organisations whose structure introduces complexity, delay and difficulty. Or indeed for larger businesses faced with the daunting challenges imposed by a change of ownership and/or leadership. We find that our clients value hands on help to assist their businesses through the production and implementation of these critical plans and processes.
Improving Systems & Processes
Many finance teams have inherited systems & processes that have been built up over many years. Many businesses have also seen at least one significant acquisition and therefore multiple legacy systems are not uncommon. Systems & processes are rarely perfect and most businesses have learned to live with the inherent inefficiencies and constraints that they pose. Increasing and improving the quality of the management information provided means that many of these challenges have to be faced up to.
However, we have to remain pragmatic and you will rarely hear the cop-out recommendation to implement a new accounting system from us. Short term improvements using the existing systems can always be made. Evaluate proposals for significant changes to the systems and software carefully.
