Our service approach
Menzies FD Solutions helps business owners and Senior Leadership Teams add greater robustness to their finance function in three key areas;
The Past
Overseeing and ensuring compliance obligations are met to a high standard. Whether that’s overseeing the production of statutory accounts (we often work with other accountants who provide compliance-only services) or taking a role in supporting client navigate an annual audit (where we don’t provide this service). We also use the past and it’s data to review and understand key business trends over time.
The Present
Real time data to give timely feedback of business performance is critical. We oversee the implementation of systems and processes to ensure the business at its owners and management get the accurate and insightful data they need to make data-driven decisions, now. We work with our clients frequently throughout the month – not limited to ‘full days’ to ensure our support is timely, responsive and supportive, when our clients need it most. Timely reporting with financial and non-financial data shows where the business is today.
The Future
The trends from the past and the data driven from real time reporting in the present, combined with scenario planning allows us to use tools to predict the future. This helps business owners and their teams set a destination they’d like to get to, and our financial modelling tools show the impact, on profitability and cash, of what a deviation may look like. Ensuring our clients have a multi-year, integrated financial projections model with a profit and loss, balance sheet and cashflow is essential to be fully informed. We ensure our regular touch points with our clients review both current performance and challenge the assumptions behind the forecasts to ensure they are as robust as they can be.
The best performing businesses have all of these tools in their armoury and often use support outside the business, like Menzies FD Solutions, to ensure they have them, they review frequently review them and are challenged.
Our services
We have a tailored approach to working with our clients around their needs and circumstances and so can work remote, on site, or a blend of both. Some clients prefer more structured support, such as fixed timetables and Board Meetings, others prefer more ad hoc, shorter but more frequent check ins.
Typically we would support our clients with;
- Ensuring systems are designed to produce accurate, timely and useful financial and non financial data.
- Overseeing the production of Management Reporting packs
- Using data to understand and evaluate business performance, and what positive or corrective action may be needed.
- Supporting Senior Leadership Teams with the tools to make key financial and operating decisions.
- Being a sounding board for business owners / Senior Leadership Teams.
- Preparing financial forecast models integrated with business plans. Working closely with the business owners and Senior Leadership Teams to implement and track against budgets, considering sensitivity analysis and scenario modelling.
- Mentoring Finance Team members, typically Finance Managers or Financial Controllers looking to make the step up to Finance Director, or newly appointed Finance Directors.
- Interim Finance Director services, for one off projects or providing ‘cover’ to ensure the Finance Function operates effectively.