What good is a Business Consultant for my business?
Our business consulting service is most valuable when it has an intimate knowledge of how your business works. Well-informed management decisions for a business to succeed benefit from well-grounded, unbiased advise. It is only possible to make good decisions when management has useful, timely and accurate information. Usually that information is contained in a company’s interim and annual financial statements.
For instance, high sales do not necessarily mean good news for a business; it could also spell trouble very soon when it is not supported by solid financial information derived from good accounting practices (our service) and sound management (you). Thus, even a business with respectable sales volume can have cash flow problems, and it is often due to poor financial planning. Our business consultant service, in a situation like this, will likely take the form of ensuring the best financial management possible by providing you with the means to monitor the cash flow for your business, forecasting your cash needs, planning your borrowing strategy so you have cash when you need it and having financial records that show your payback ability. By knowing your cash position now and in the future, you can: 1) Make certain you have enough cash to purchase sufficient inventory for seasonal cycles; 2)Take advantage of discounts and special purchases; 3) Properly plan equipment purchases for replacement or expansion; 4) Prepare for adequate future financing and determine the type of financing your need; and, finally, 5) Show lenders your ability to plan and repay financing. Thus, the services of a good business consultant can save you time, worries and money.
Our business consulting services can be grouped in the following areas:
Business Plan Preparation: We can create a sound, down-to-earth, workable business plan that you will be confident presenting to any financial institution and even it use as a blueprint to your project.
Accounting System Design: For a business plan and/or other goals, we will design your accounting system to provide management, in their decision-making process, essential data to meet organizational needs and goals. We will first ensure that we understand your needs and, then, create the tools to get the answers you seek.
Financial Statements & Forecasting: After preparing financial statements on a regular basis, we will assist you in reading them as they are vital to the fiscal health of your company. Once you understand your current financial situation and defined your vision by setting growth objectives and producing a business plan, we can help you to start projecting your financial needs. Usually prepared monthly, financial statements provide you with a picture of your company’s assets and liabilities, and clearly show your year-to-date revenues and expenses.
Accounts Receivable/Payable Management
An important component of accounts receivable/payable management is the best use of all funds received and paid. We are happy to assist with your cash management, preventing duplicate payments, overpayments and missing funds.
Business and Personnel Policy Development
More and more nowadays, employees at all levels expect companies, big and small, to have clear policies. If your company office staff is more than one employee then it is really important to draw your attention to the development of clear statements of business policy, as your inattention in this area may cause some inefficiencies, good employees leaving or even business losses. By setting up performance standards, you communicate to your employees and to yourself what is expected in order to meet your profit goals. Set your personal business goals and consult with your associates and workers for their input, while staying flexible and up-to-date with your business policies. We can offer the tools and experience to help you in this aspect of your business.
Financial Ratios Analysis
Financial statement analysis is one of the most important parts of business consulting services. The main feature of financial statement analysis is the development and interpretation of various financial ratios. Careful and skilled financial statement analysis can reveal answers to many questions about the company’s financial “health”. We will help you not only to assess the current state of company’s affairs, but also to identify some possible areas of its financial risk or opportunity.
Business budgets allow you to control the financial cash flows in your business instead of allowing your business to control you. To make a profit, you have to design a system that allows this to happen. A well-thought out budget allows you a peek into the possible future of the company. Together with the accounting system which keeps track of the past, an informative cash flow which takes care of the present cash needs, an all-inclusive budget will allow you to walk into the future. We want to go all the way there with you!