A recent study by CBA and Melbourne University revealed that one in three people in Australia are not on track to reach their financial goals.
Although this study is referring to personal finances, we see SME business owners who may not appreciate the value in managing their finances, which often results in severe financial/cash strain.
One of our key drivers at Ledge is assisting clients to ensure they have sound financial reporting systems in place, or recognise potential weaknesses in their current reporting/management systems.
We do this by working with strategic partners to provide an accounting and reporting structure that can be used as an internal management tool, as well as meet the requirements of any external stakeholders. A Business Advisory Team can assist with implementing the following steps:
- Work with your Management Team to create a 3 Way Forecast with 12 month rolling Cashflow Forecast;
- Use this 3 Way Forecast as the basis for a Month End Management Pack, which will include Management Reports, Actual v Budget Analysis and Job Cost Reporting;
- Provide you with a modelling tool to enable 12-24 month visibility on the effect of business decisions including project mix and finance decisions, entry into new market segments or additional staffing requirements.
These tasks are performed through a mixture of on-site meetings with your management and staff, and off-site cloud based data analysis and process creation.
Once these financial reporting systems are in place, Ledge is able to provide financial institutions (banks/lenders) with a measured financial approach to ensure a positive outcome.
For more information on how Ledge can assist you in managing your finances, contact your Ledge Finance Executive directly, or contact us here.
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