In order to increase productivity, boost profits and forward plan for growth, a company needs to have a clear understanding of its financial drivers. Yet small businesses often do without these insights, while larger companies spend a frustrating amount of time working with cumbersome software and processes to achieve the financial visibility they need. There is another way.
How we help to improve business performance
Accru Felsers’ Business Boost+ service saves your business time on financial processing and reporting and provides you with more current and meaningful data on all aspects of your business. Business Boost+ is tailor-made to address your particular business issues and goals, and provides signficant benefits in three key areas:
- Better business financial insights
- Time and cost savings
- Specialist industry information and advice
1. Better business insights
Accurate and meaningful financial data enables you to take decisions quickly to improve your bottom line, helping you to:
- Solve performance problems early 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.
- Get a more accurate picture of your whole business Numbers reported by different locations, systems, and applications often present a flawed picture. Our solution can accurately integate various data, including different currencies, into reports, giving management ‘one version of the truth’.
- Make better sales and cash flow forecasts With the right information at hand for analysis, you can more easily and accurately forecast cash requirements and make profit & loss predictions many months ahead.
- Eliminate waste and cut costs With software that analyses transactions between related companies, it is possible to identify areas of overlap or inefficiencies.
2. Cost and efficiency gains
Getting accurate and meaningful financial data doesn’t have to take a huge amount of resources. Automating your financial processes can save you time and money with:
- More efficient business processes Using programmatic coding and APIs, we can integrate data from a wide range of platforms (eg ecommerce & accounting software), extract and manipulate it to produce user-friendly pre-formatted reports to suit your needs. No more manual keying in data on multiple databases.
- Hours of work done in the click of a button Much of your staff’s work to collect, consolidate and compare monthly profit and loss data from each business unit can be automated. Consequently, time and cost savings in the production of reports can be substantial.
3. Specialist industry information & guidance
Data from our extensive industry databases, combined with our guidance on action planning, can give you a competitive advantage.
- Benchmarking reports help identify sales & growth opportunities Financial data combined with industry benchmarks can help you compare your company’s strengths and weaknesses against competitors and identify trends and market conditions to guide your growth strategy.
- Identifying grants & incentives to fund growth We can also keep you up-to-date with Federal and Local Government grants & incentives you may be eligible for.
- Guidance on tax and accounting from specialists Our Business Boost+ advisors can help to uncover underlying issues and advise on improvement strategies such as:
– Profitability by item, price or service
– Reasons for profitability issues and potential solutions
– Overhead costs and the effect of cost-cutting
– Cashflow concerns
- Action planning Our support can include setting objectives and KPIs, identifying timeframes & resources, integrating tax planning into your business plan, and integrated 3 way financial modeling.
You may also be interested in our article on how business intelligence can help growing businesses.
Accru Felsers Business Boost+ service starts with a needs analysis, review and assessment of your financial processes and software systems. Following this, we can implement the changes you require. We have helped many business to improve their business performance by automating the processing of large volumes of data, tracking specific product lines and rolling up complex regional data in multiple currencies. To find out more, please contact Will Merdy for a confidential discussion.