Growing businesses need to understand their finances and the best place to start is management reports and accounts to give interim insights to the business performance based on real time data from cloud accounting and bookkeeping.
Forewarned is forearmed means that the better knowledge you have today allows you to plan for a better tomorrow. The management accounts allow you to find what’s working and what’s not using Key Performance Indicators or better known as KPI’s that are relevant to your business.
KPI’s do not all have to be financial related they can be linked to things such as customer satisfaction or visitor numbers, however these KPI’s will reflect on the overall performance of the business which will be reflected in the business accounts. A growing business needs to know regularly what’s going on rather than waiting 9 months after the year of trading.
Management accounts give us the taking points to help your business succeed, if customer satisfaction is down…. why is it down? Visitor numbers are through the roof…. Should we expand?
The small examples above have their own life that would need planning, expansion costs money…. Can we afford it? What are the start-up costs? What are the staff costs?
With cloud technology and AGL as your advisors we can give you the accurate real time data that will allow you to make the best and most informed business decisions.