A Civil and Structural Engineering practice that had been with their previous accountant for 20 years.
There’s a different way of doing it
The problem they had was simple. Their accounting records were not fit for purpose. Rather than point this out, the previous accountants had simply accepted it, allowing the internal financial controller to continue to issue monthly 125-page management information reports that were too cumbersome to be of any use to the management team. Although everything was compliant, it didn’t serve as a foundation for strategic business planning and growth.
Menzies needed to be up-front with the client. There was a better way to ensure the board were kept appraised of the financial aspects of the business. Menzies focused upon providing clear KPIs for the business and managing cash more effectively.
What happened?
The client understood that they needed better information upon which to base their business decisions. Menzies has since played an important role within their business providing mentoring and advice. Menzies now provide guidance to the board and present at the client’s management away days to offer advice on best practice throughout the business. We have also worked effectively with the Financial Controller to manage cash and each month provide management information for the Directors – information that’s user-friendly and action focused.
We’ve developed a strong relationship with the client, based upon trust and Menzies has helped their business to grow by around 30%.
Strategic Business Advisory
The most successful businesses have a clear vision and joined up strategic thinking. We work with business owners to align their personal goals to their business plans. Our advisors work in partnership with you to develop a streamlined, profitable business that works as hard as you do.
We passionately believe that every business owner needs an advisor who really understands their goals. But why have one strategic advisor when you can access many who…
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Posted in Work examples, Manufacturing