Virtual Financial Officer Services
Management Accounts & Reporting
Up to date and relevant management information is vital in making the right decisions about your business. Our management accounts and information services provide:
- Monthly or quarterly management accounts
- Reporting on key performance indicators
- Help with in house systems so you can produce your own information
- Training on how to get the most out of your information
- Supplying management information to lenders
- Branch/divisional level reporting
- Budgets & Forecast reporting
- Costing information, including break-even turnover levels
Business Planning & Growth
Our structured business planning service will help you probe, identify and create breakthrough strategies to dramatically improve your sales, profits and prospects. Business plans are also needed to support finance applications, especially for bank loans.
Our business plans cover:
- Business strategy & goal setting
- An action plan to get you where you want to be
- Implementing the right systems to allow your business to grow
- Cash flow forecasts
- Profit forecasts
- Marketing plan
- S.W.O.T analysis
- Key performance indicators
- Competitor analysis & benchmarking
- Lead generation systems and sales conversions
- Raising finance to empower you to invest in growth
- Improving the potential of your team members
This will enable us to identify how to:
- Set and achieve both your personal and business goals
- Identify and tackle the main challenges within your business
- Pricing strategy to achieve an optimum selling price to return a healthy profit
- Convert customers, and generate more revenue
Above all, we will help you build a more profitable business so that when you decide to exit :sell or retire, you will be able to maximise on your investment and enjoy your rewards afterwards.
Budgets & Forecasts
We believe that every business should have a 3 year financial budget to plan mapping out exactly where you want it to be heading. This gives youyou’re your team direction as to what the business is trying to achieve so you are all working towards this same goal.
We’ll also create, manage and update a rolling 12 month 3 way forecast of profit & loss, cashflow and the balance sheet so you always know what the future financial performance and position of the business looks like, based on what we already know today (ie committed sales and costs). This service helps bring the future into the present so you can do take the appropriate actions to needed to achieve your goals.
Cashflow Forecasting & Projections
All business, from start-ups; to expanding or even the more seasoned established business, cannot afford to ignore its cash flow. Regular monitoring of this vital ingredient in your business is absolutely crucial for its survival and ability to growth.
Manny business can get carried away thinking that a large turnover figure means their business is healthy. However, its how soon this turnover converts into cashflow that really matters. This process defines how well a business is managing its financial affairs and forecasts whether it is to thrive & survives or run into decline.
It is therefore important to understand, that:
Turnover Is Vanity, Profit Is Sanity but your business’s Cash Flow is Reality…
What is cash flow?
Cash flow is to the movement of money in and out of your business in terms of income and expenditure, whether this is day to day revenue transaction or even large capital spends
It is preferable to maintain positive cash flow within the business. By this we mean there is more money is coming in to the business than going out.
A positive cash flow ensures a businesses ability to meet and settle its bills and invest in growth. A negative cash flow means you will have to take immediate corrective steps to reverse this position. This could mean obtaining alternative source of income or funding to be able to pay urgent debts.
If you want to work out the net cash flow, you just add up all of your cash payments over a set period (typically a month) and take that away from your cash receipts. It’s important not to get too hung up on one particular month, however. Your cash flow can be more accurately judged over a period of three months or more since most businesses will, naturally, have peaks and troughs.
Using up to date technology, we use artificial intelligence to graphically identify patterns in your historical accounting data to generate a rolling cash flow forecast from 90-days up to 3 year projections. This helps business make real time live decisions: From how/when to pay your next VAT bill to how hiring new staff or undertake an office move, will impact on the businesses ability to ride through the forthcoming time period..
Since I have been using Jayen I have found him to be approachable and helpful with any queries or problems I have had. I contacted Jayen when an issue with a Building Society arose, who then acted promptly and efficiently on my behalf, the problem was resolved without any further hassle.
Jayen Patel has been processing my accounts for last 3 years. He is reliable, quick and professional. His fees are easily affordable and the standard of service and advice is excellent. He has increased my understanding on book keeping and had provided strong support. I would highly recommend him.
A friendly personal service providing for a helping hand through the minefield of accounting. I have worked with Jayen since setting up the company some 3 years ago. His competitive fees provide a valued integral part of growing and developing the business.