Financial ConsultancyWhy is financial consultancy important? Finance is a complex subject for every business and it informs and has an affect on every other aspect of your operation, from staffing to product development to sales and marketing. Because of this, it’s very easy for directors to develop a few “blind spots” over time. This can be in the form of opportunities missed that you just didn’t have time to think about, or a particular aspect of finance holding you back because you didn’t realise it was so important. As ever, you don’t know what you don’t know. So getting an expert, external view can help shine a light on key areas for improvement that mean you address the most important things in the right order. What areas does it cover? Some of the key areas it’s useful for a consultant to understand within your business are: Your business plan and how you’re trying to reach your goals Your current P&L situation The current framework and structure of the finance function. including your systems Staff responsibilities and accountability External partners you’re working with There should be real, measurable benefits that can be identified from this process. Whether it’s cost savings that could be made, opportunities that you should be pursuing more aggressively or just changes in process that will make staff happier and directors less stressful! We engaged Denise to oversee our own staff in moving our accounts to SAGE. She did this with flying colours, and indeed trained our staff to such a level that we are now running very smoothly. Roy Goff, Capital Living London Download our E-BookDownload our useful E-Book “Accounting Guidance for Small Businesses” to get Denise’s top tips on credit control, sales invoicing and when to outsource. Download Hearing the truth is the first step to a better future A good financial consultant doesn’t just crunch numbers. They are also a critical friend, a facilitator of communication and someone who enhances communication in the business. Because finance is a commercially-sensitive topic it’s often an area in which communication is lacking. Getting a consultant on board allows someone impartial to listen to the issues affecting staff and directors and determining the real challenges from the red herrings. For example, directors might think staff are lacking in motivation when actually they are just lacking in training or struggling with a poor software system that the directors don’t want to hear about replacing. A trusted expert can weigh up the value of these challenges and tell you which solution is really cost-effective and in your best interests. If you recognise any of these issues in your business and you need extra support please contact Denise for a free consultation on how she can support you and your business.