Your Finance Organisation
Providing effective support for your business
Finance support tends to evolve, often reactively, as the business develops, rather than being pro-actively planned, so it is important to review the level and type of Finance support you need for your future plans, and to ensure you’re getting maximum value.
As a business owner, you cannot be expected to know how best to structure the team, or what qualifications, skills and experience are appropriate for the level of support you require. It can also be a distraction from running the business.
Sadly, there are times when roles may have to be changed significantly or discontinued. In these circumstances it is important that individuals are consulted with appropriately, being treated fairly and with respect. This may be challenging especially if you have not had to do it before.
You need not be alone: whatever stage you are at, I offer any or all of the following services:
Assess the current and future business requirements
Recommend future structure and transition plan
Write job descriptions / role profiles
Liaise with your Human Resource support on consultation process
Benchmark salaries and rewards packages
Brief and liaise with recruiters
Prepare interview plans & conduct interviews
Identify high potential individuals
Prepare development plans
Improvement plans for under-performers
Training, Coaching And Mentoring
A basic understanding of financial concepts can enable organisations to drive improvements in profit and cashflow. Here are some examples:
Key Performance Indicators (KPIs) need to be well understood along with how individuals and teams can influence them so that the business can achieve its overall goals
Revenue targets are usually based on revenue in the accounts which may be very different from actual business written by the Sales team
Profit margins: Sales and Marketing teams need to understand which products or services are most profitable and therefore which to promote
Cost base: departmental managers and manufacturing teams need to understand how to influence this
Cashflow: everyone should understand how they can have a direct positive impact on this, such as only selling to good credit risks even if it means potentially missing a sales target
Understanding management accounts and variance analysis
How to prepare a robust budget or credible business plan
I offer the following:
Bespoke in-house courses or workshops specific to your business and KPIs
General “financial awareness” training for non-Finance staff
Coaching of Finance teams in areas which are new to them, or on which they need a refresher
Workshops for updating your strategic plan, business plan, annual budget process
Mentoring people in your organisation who you believe have potential to progress to the next level
If you are interested in finding out more about this service, without obligation, please get in touch.