Businesses setting up or just identified
the need for an Internal Finance function.
The Problem
You are just starting out in business or are growing quickly and don’t know where to start when it comes to setting up any kind of finance function or even if you need one (you do!). Your area of expertise is in what your business does and the services it provides but you know your business will suffer in the medium to long term if you don’t get things right now and make the right business decisions. You need to get your “finance” house in order but don’t know how.
What do you need?
You need expert advice on how to set-up this business critical function, even if you only need a book-keeper you need to ensure they are the right person and finance doesn’t stop there.
Most businesses starting-up make the mistake of doing the books themselves or just getting a book-keeper to make do but why prepare your accounts every month if you are not going to use the valuable information they provide you with. Financial performance provides you with a unique insight into your business if you can unlock what your results actually mean. Don’t be a slave to the numbers, they are supposed to help you understand and run your business.
Ask yourself a few questions...
- Do you know what financial processes the company should be following to ensure the results are accurate?
- How will you know how much profit you make and where from?
- Would you know how much you can spend on a new investment in two months time and if that money would be better spent elsewhere?
- Are you confident that the rest of the team understand what is happening in the business if they don’t know what is happening financially?
The answer to some of these questions will be that you don’t know or you are unsure, you will continue to make decisions about spending, services, processes, who does what and when without having a complete picture of your business and this could be detrimental.
In difficult times it is even more critical that you have the right people following the right process and are looking at the right results and making the right decisions!
The Solution
Freestyle Financial Consultancy will work alongside you, guiding you to make the right decisions for the set-up of one of the most important teams within your business. Whether it be one person or five we will review your business requirements with you, set-up the relevant controls and procedures ensuring they are understood by all, implement standard monthly reporting, help you recruit and train the right people and set-up your accounting software for you, ensuring it reflects what your business needs. We will continuously support you once this is done and ensure your internal systems are not only running smoothly but remain relevant for your business.