Ensure your data is working for you.
The Pandemic has accelerated the use of cloud-based accounting platforms. It is readily accepted that these have a myriad of functions and can produce a variety of reports and graphs at the press of a button on the keyboard…automation in finance is here to stay. As the focus in 2021 shifts from surviving lockdowns to one of growth, it is important to check that your data is working for you and meets the needs of your business…
- Will your data help you assess your strategy, key considerations (to sell a division, exit a market, buy another business) and their impact on your financials?
- How does your historic financial information and data about markets, customers, competitors and suppliers assist you in making decisions that concern your business’ future?
- Are you getting insights by analysing key trends and how do these factor into future forecasts and scenario planning?
These questions remain central for you when planning ahead and preparing budgets, business plans and forecasts. Using data analysis effectively will not only benefit your business directly (by enabling you to be clearer about the direction you wish to take) but will also provide Banks/ other Stakeholders with improved visibility, making their decision to offer you support easier.
If you would like to discuss this further with us then please feel free to contact us.
Our contact details are:
07780 336956 Raemy Singh FCA
07780 336952 Delphine Paterson FCCA ACIB
Forward Financials supporting business for over 10 years