Basics strategic advice: how do accountants support your financial performance?

“Q: How does an accountant support my financial performance?”

We’re all used to the idea of a business needing an accountant. But have you ever stopped to think what a good accountant and business adviser can actually bring to your company?

Advances in technology, software and AI are changing our expectations of what a basic accountant/business owner relationship can offer. So, it’s important to reassess your expectations and to find out where we can add real, additional value.

“A: Your accountant is now a full-fledged business adviser, ready to help you review, manage and transform your finances and strategy.”

In previous decades, your accountant dealt primarily with historical data – the transactions and cash inflows/outflows that had happened in the past.

Today, with access to so much smart forecasting, data analysis and forward-looking scenario-planning, we can tell you far more about the future of your business.

Let’s look at four ways we can partner with your business:

→ Analysing your financial performance: We’ll track your key performance indicators (KPIs) and business data to look for areas where the business may be underperforming. We can offer future-facing advice on cost-reduction strategies, operational efficiencies and key ways to improve your overall financial performance.

→ Optimising your revenue generation: Improving revenues is a vital step. We can review your pricing models, customer lifetime value and sales mix to find the most lucrative revenue streams. By drilling down into your revenue data, we can suggest a new strategy that will translate into scalable, repeatable top-line growth.

→ Managing cashflow and your cash runway: Cashflow forecasting tools allow us to see far into the future of your cashflow, spotting the liquidity gaps before they occur. We’ll also look over your accounts receivable and payable cycles to ensure you're in a positive cashflow position, with a solid cash runway to fund your ongoing operations.

→ Driving profitability and planning dividends: By performing what-if scenario modelling, we’ll help you maximise your net margins and drive profits. We can also advise you on the most tax-efficient ways to distribute profits and dividends to yourself and your fellow directors. This balances your own need to extract wealth from the business while also leaving sufficient earnings for future reinvestment.

Your accountant is one of the most important partners your business will have across its lifetime.

We’re here to reveal the narratives in your numbers, show you the threats and opportunities and come up with a strategy that pushes your financial performance to new heights.