Four Management – Financial Management Service
We recognise that there is often a financial information gap in companies of a certain size, normally companies in the Small and Medium sized Enterprises (SME) band. This is the gap which exists between the business managers and those tasked with producing regular accounting and financial information.
In larger companies this gap is often filled by a full time finance director or financial controller, however SMEs often do not have the resources to pay for a full time position.
Accurate financial reports provided on a timely basis are vital tools for the Owners / Directors / Decision makers in any business. The importance of this information increases with the complexity of the business and industry.
Failing to address and bridge this gap can often hinder the company’s development and lead to missed opportunities to:
- Expand and grow
- Increase profitability
- Reduce excess non essential costs
- Focus on profitable production / sales lines
- Ensure that the focus of the user group is on the main drivers of the business/company
FourM has identified an opportunity to provide a service to small and medium sized enterprises (SMEs), which bridges the gaps between the enterprises’ book keeping function and the management of the business.
FourM offers its clients a tailored financial management service. Our experienced accountants will work with your book-keeping staff to bridge the gap to management by preparing the enterprise’s management accounts, including providing an interpretational report setting out key performance indicators. Where appropriate or required, we can prepare financial forecasts, including cash flows and budgets, and provide a full performance analysis of variances compared with forecasts, using the management accounts.
Aside from the benefits to management of having up to date financial information in a format relevant to your business, the financial reporting package will be ideal for the provision of management information (MI) to banks and other lenders, to comply with their funding covenants.
We already have more than twenty clients using our Financial Management Services on a monthly or quarterly or six-monthly accounts basis.
We have recruited experienced accountants who have worked outside the accountancy profession, as senior accountants or financial controllers of larger SMEs and significant corporations, to deliver this financial management service.
This slightly different background means that our experienced accountants can relate better to the specific needs of client’s management in terms of the financial information generated and its impact on business operations, financial performance and ultimately the wealth of our clients.
We provide our tailored Financial Management Service to clients across a wide range of business, from licensed trade and hotels, through transport services, to construction industry contractors.
We can also assist clients through a developed service whereby we can bridge the gap between clients and their bankers, in relation to providing a financial management. information package (MI) to the bank to comply with lending terms and conditions. An extension of this part of the service is to attend annual review meetings with your bankers, assist in negotiating new or restructured financing and generally work alongside clients in funding matters.
We are also able to assist clients in general operational and administrative management. Our financial management service allows us to build up a detailed, comprehensive knowledge of our clients, their businesses and their challenges.
Through time we can assist effectively with advice through discussion on operational matters, such as employees’ remuneration reviews, staff appraisal processes, product costing and pricing reviews, cost reduction reviews and future objectives setting.
We consider that our Financial Management Service is an untapped resource for many of our clients and we believe that a modest investment in terms of our fees on our clients’ behalf can provide a return of many times the costs of the service.
For more information on how FourM can deliver a tailored Financial Management Service to your business, please contact the partners.