Introduction to services, click on tab to reveal the service text.
David works with businesses on either a long-term basis or project by project or task by task – whatever works best for his customers! He works alongside your existing advisers eg your accountant and bank manager doing the work that they don’t or are unable to do for you – he does not replace them.
The importance of reporting is twofold:
- To have visibility into the future (i.e. knowing what is likely to happen round the corner)
- To have visibility over past performance (i.e. to analyse performance data and use it as a tool to plan future action)
Most businesses have inadequate processes and systems in place to record their true activity. When a business owner knows the reality of how their business is performing (in total and for each of the different areas that make up the business), he can then make decisions based on facts rather than speculation and anecdotal evidence.
A lot of businesses wait too long to implement a proper reporting structure. We assist businesses in taking action to preempt future problems. Not knowing the facts puts business owners in poor position. It is impossible to make confident, accurate decisions using poor data and reports. Without the right information, collected in the right way, effective analysis and clear planning is impossible.
The accurate and timely reporting of performance so that you and your managers know how the business is performing and become aware of any problems early. We will:
- produce monthly management reportsshortly after the end of the month so that the data within the reports is current, relevant and, most of all, useful
- analyse trends within your business and within your market and provide recommendations to develop your business
- determine your Key Performance Indicators (KPIs). KPIs are a brief set of measures that allow you to see at a glance what’s happening within your business
- develop and implement processes for keeping costs to a minimum and to provide visibility over expenditure so that managers can understand thenumbers and be held accountable for cost control
- educate managers about the numbers so that they can focus their time and energy on activities that really affect the business’ performance
- develop budgets and targets for the business so that everyone knows where the business is going and what needs to be focussed on
Financial planning and budgeting so targets are set and actions plans put into place to drive your business forward to where you want to take it.
Blake & Blake harnesses both its commercial experience and extensive financial modelling expertise to help our clients produce the right solution. All of our Finance Directors are experienced finance professionals who understand business and finance and have a good modelling skills. We use all of this knowledge and experience to construct models that reflect how management run the business and to explain it to others such as banks and investors.
Our models are complete and accessible. We will produce an integrated P&L, Balance Sheet and Cash Flow that is easily navigated. We will also identify the key variable assumptions in such a way that you can adjust them and see the effect immediately enabling management to model ‘what if’ scenarios. Once the model is built we will ensure that it becomes embedded within the management processes of the business.
- work with you to understand what activities really drive your business
- build an integrated financial model that includes a profit and loss account and cashflow. A balance sheet can also be included if required
- the model will be able to be changed instantly so that ‘what if’ scenarios can be assessed
- the model will be updated on a regular basis so that you can see exactly where your business is going
- we will work with you to make the model part of your ongoing business processes. We will communicate the model as appropriate and we will ensure that any decisions ad events that may impact your business are run through the model so that the effects are fully understood
- we will regularly report to you how the business is performing against the targets we set for it and, most importantly, we will explain any variance from the targets so that you understand what is happening in the business and why
Support for you and other senior managers to improve performance. When performance issues and opportunities are identified, it requires purposeful action. Your Finance Director will explain the financial consequences and will encourage you, other directors and managers to take corrective action.
The areas that your FD will explore with you include:
- analysing profit to understand where the biggest opportunities lie and to determine how to reduce less profitable activities
- analysing profit by customer, product, market etc so that you understand the areas that are performing well within your business and the areas that are not
- reviewing arrangements with customers to see if there is a more profitable way to supply them
- researching alternative suppliers across all areas of the business and review arrangements with existing suppliers
- researching sources of grant funding
- reviewing significant costs to see how your business can reduce expenditure
- investigating exchange rate hedging and planning
Once ways of improving profit have been identified a detailed action plan will be created and implemented. This will be communicated to all the key players in your business so that everyone knows what needs to be done and the part that they need to play
Support for you when facing the big decisions through cost-benefit analysis and evaluating alternative solutions.
Cash is the lifeblood of every business. Without cash in the bank to pay suppliers and staff a business cannot survive. Managing the company’s cash flow and banking arrangements is critical to the ongoing success of your business. Regular forecasting allows any cash problems to be anticipated and action taken to change the business needs or to arrange extra facilities.
The areas that your FD will explore to improve your cashflow and cash position include:
- developing a detailed cash forecast that will demonstrate what the business’ future cash position is likely to be
- making sure that the bank account is regularly reconciled
- determining immediate cost saving opportunities within the business
- reviewing credit control processes to ensure that money from sales is being received as quickly as possible
- reviewing contracts with suppliers to reduce payments and to make them on more favourable terms
- identifying other opportunities to improve your business’ cash position such as sale and leaseback of assets
- discussing your facilities with your bank manager such as increasing your overdraft and exploring funding with other lenders
- identifying potential new income streams
Blake & Blake – Finance Directors work with a range of providers of finance. This allows access to funds for any type of business situation.