Financial Management Services
Blue Sky can provide a comprehensive range of financial management services that can be flexible and tailored to your requirements and affordable.
Part Time Finance Professional
Small businesses and start ups often cannot justify the cost of a full time financial director but in most cases would benefit from having the involvement of an experienced financial professional. Your business needs sound financial management to run successfully and to have the credibility with banks and investors. You may only need a small number of days a month or on occasions you may need full time commitment for a short period. A part time finance professional on a flexible basis can help you with preparing financial forecasts, business plans, monthly management accounts and other key business performance data as well as general accounting and bookkeeping tasks and most importantly provide an independent view on the business performance and strategy and finance requirements.
Financial Budgets and Forecasts
An annual or three year financial plan is a key management tool to achieving the profitability and planning the cash requirements of the business. A business model built with the flexibility of Microsoft Excel allows you set your assumptions for your forecast and see the results to establish best and worst case scenarios. A cash flow forecast enables you to see the cash requirements on a month to month basis and foresee any borrowing or funding requirements in advance and make the necessary arrangements well before it happens. The financial plan provides you with an initial budget for the year to compare actual results and amend if necessary to provide a new forecast and take any required action if needed.
Business Plans
A business plan is usually required by banks to support any lending/overdraft requests and by investors before providing any funding. It is built around the financial projections to explain the business in terms of its products and services, the market and customers it serves, its operational costs and any new capital expenditure with the assumptions that have been made. The business plan needs to be written in a way that someone outside the business can understand and, most importantly when its supports a borrowing or investment proposal, how the borrowing is to be repaid or what the investor will eventually get back in return for his investment.
Monthly Management Accounts
When a business gets to a certain size employing a few people, you cannot usually manage the company profitably without properly prepared management accounts. Just looking at the bank balance or running off a profit and loss account from your accounts package without doing the proper month end adjustments can be misleading and possibly dangerous.
Performance Indicators
Businesses need to identify key performance data to monitor how well the business is doing. Performance data does not just come out of the accounting system. Efficiency, utilisation rates, business conversion rates and job margins may alll be key areas affecting performance and profitability. The management maxim of "if you can't measure it, you can't manage it" is the case in point.