Around 60% of SMEs feel that they lack the knowledge they need when it comes to their finances. So why aren’t they turning to business advisors to help them figure it all out?
Advisory services aren’t offered by every accountancy firm – traditionally, it was the reserve of established companies and multinationals, who employed a team of management accountants to provide vital financial information to the board of directors.
That said, we believe that accountants should offer more than just compliance – instead, we’re here to help you grow. Large firms spend hundreds of thousands of pounds to receive the advisory information they need to get ahead of the competition, but SMEs can really benefit from the kind of insight a management accountant can provide. It doesn’t have to cost the earth, but the investment made can be the difference between success and failure.
What our clients tell us
We know our clients are busy doing what they do best, so they often don’t have time to look at the numbers or put goals in place. They also might not have the knowledge to delve into the data and identify what’s useful.
Although cloud accounting is now far more widespread, companies still may not be up-to-date with their records, so there may not even be any data to analyse. Plus, it’s difficult for clients to hold themselves accountable when there’s so much going on in other areas of the business.
That’s where we can help. Through our advisory services, we’ve helped clients to identify areas where they can boost revenue and reduce costs. We regularly identify cashflow issues and provide vital data analysis that tells clients which staff or product ranges are delivering the most profit. With that in mind, we formulate a plan to help build on that growth and achieve further profitability, and ensure everyone stays on track.
We are repeatedly told that the more analysis we perform, the greater the value to our clients. After all – if you can’t measure it, you can’t manage it.
Who are advisory services for?
Like we said before, advisory services aren’t just for big corporations any more. Many businesses can benefit from a comprehensive analysis of their finances, including cashflow reports, profit and loss reports, and much more.
So, chat to us if:
- You feel you don’t fully understand your finances
- You feel your business isn’t growing as fast as you expect
- Your business is facing financial issues during these tough times
- You have either a lack of understanding or time to analyse your business data
What makes our advisory services different?
Many accountancy firms are now starting to offer business advisory as part of their services, but at Nephos, management accountancy has always been at the heart of what we do. We’ve recently brought in Drew, who in his previous role provided management accountancy to a £400m turnover company that generated net profits in excess of £25m, and our MD Joe previously worked as a management accountant to a VC-backed engineering firm. We get right to the heart of your financial data to find both the opportunities and the potential pitfalls, and give you the advice you need to move forward.
Get a free consultation
We are offering a free one-hour consultation where we can discuss your business concerns and provide vital insight. These meetings can include, but are not limited to:
- Strategic advice
- Budgets and forecasting
- Data analysis
- Financial modelling
- Cash flow queries
- Further details on how we can help you grow
For more information on how Nephos can support please contact our team on 01242 260590.