In order to stand apart from the competition, increase revenue and boost profits, a company needs to make fast, intelligent decisions. Naturally, these decisions should be based on sound financial data rather than best-estimate guesswork.
Give your business a boost
The challenge many businesses face is that they don’t have the financial data in a form they can use to run their business. Even if they do, management often doesn’t have the in-house expertise or time to devote to its analysis.
Accru Felsers Business Boost+ service is designed to address this issue. Using sophisticated business Intelligence software, we can condense complex financial data into meaningful reports tracking any measure relevant to your business – from KPIs on specific product lines, departments or locations, to an overall view of your company’s position. A senior chartered accountant will analyse the results, discuss the business implications with you and help devise an action plan to improve your company’s performance.
If you are seeking answers to these kinds of questions, Business Boost+ can help
- Who are my most profitable customers?
- Where are the trouble spots in my business?
- Which products should I discontinue and which should I focus on?
- Which market segments or locations should I invest in?
- Do I need to adjust pricing or inventory levels?
- Where can costs be cut?
Accru Felser’s ‘Business Boost+’ service can give your business a competitive advantage in a number of ways:
1. Track business performance measures – Your reporting system can be designed to keep track of various metrics so that any problems can be diagnosed and solved early before they evolve into bigger issues.
2. Get a more accurate picture – Numbers reported by different locations, systems, and applications often present a flawed picture. Our software enables various data, including different currencies, to be accurately integrated into reports, giving management ‘one version of the truth’.
3. Make faster, fact-based decisions – Detailed, current data on all aspects of the business allows you to see exactly where your business makes money and where it doesn’t. This helps with all sorts of decisions, for example when pricing needs to be adjusted based on production costs and desired profit margins to avoid selling products at a loss.
4. Save time and money – Much of the work involved in collecting, consolidating and comparing monthly profit and loss data from each business unit can be automated and presented in a user-friendly format, saving on the production of reports and re-working of figures.
5. Better sales and cash flow forecasts – With the right information at hand to support underlying analysis, you can more easily and accurately forecast cash requirements and make profit & loss predictions many months ahead.
6. Eliminate waste and cut costs – With software that analyses transactions between subsidiaries and departments, it is possible to identify areas of overlap or inefficiencies, and see where inventory is excessive and can be cut. These are some of the easiest changes a company can make to immediately affect its bottom line.
7. Identify sales & growth opportunities – Financial data can be combined with industry benchmarks to help you compare your company’s strengths and weaknesses against competitors and identify trends and market conditions to guide your marketing and growth strategy.
Turning analysis into action
While business intelligence reporting software is the starting point, the real value comes in having a trusted adviser to help interpret the metrics, uncover underlying issues and bring insights to help you identify opportunities and put a plan into action. That’s where your Accru adviser comes in, and its all part of our Business Boost+ service.
Business Boost+ could pay for itself by simply identifying such areas for cost savings. On top of that, insights should lead to optimal profits, sales and growth. See our business boost case study to find out more about how it could help give your business a boost.