HomeInsightsWork examplesA solid foundation for business planning

Insights

Work examples // 05/02/2018

A solid foundation for business planning

strategic business planning

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?

menzies

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%.


ENQUIRE


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…

…GO BEYOND THE NUMBERS

…LIKE A FACE-TO-FACE APPROACH

…ARE MULTI-TALENTED

AND ARE YOUR TRUSTED ADVISORS.

Find out more about our advisory approach.

Print Friendly, PDF & Email


RELATED CONTENT
  • Avoiding insolvency with effective credit management

    Last year’s increase in corporate insolvencies of around 10% clearly illustrates the struggle of businesses to make a profit within competitive markets – highlighting that many are still unaware of how to protect their operations in order to prevent insolvency. The profitability of any firm comes down to strong financial management, of which effective credit […]

    Print Friendly, PDF & Email
    READ MORE >
  • Financial distress? Explore your options…

    When creditors are increasing pressure and financial difficulties are threatening the survival of your business, insolvency may seem imminent. However, as this might be prevented, it is important that owner managers are aware of all available options before taking action. Act fast! The possibility of protecting the business whilst also meeting creditor’s needs might still […]

    Print Friendly, PDF & Email
    READ MORE >
  • How is productivity effecting your business?

    In businesses such as that of professional services, where the largest overheads are often salary costs, a few minor changes in employee and partner productivity can easily improve business value. But are firms actually applying such improvements to enhance their competitiveness? Productivity in the UK According to the latest figures from the Office for National […]

    Print Friendly, PDF & Email
    READ MORE >