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Financial Management

Financial Mangagement profitable_services sustainable_services

“I feel like I have lost control because I can’t get the financial information I need”
“I feel like I am working in the business not on it”
“I don’t really know if my business is financially sound”

The financial performance of your business is like the ‘scoreboard’ in a game of football and just like a game of football you are in business to win i.e. make a profit, generate cash and ultimately build value in your business.  As a business owner you have invested money, blood, sweat and tears into your business and you must see it as an investment that you have to get a return out of.

We work with business owners to ensure they see their business as an investment and that they ultimately get a return on that investment and reap the rewards of all their hard work and sacrifices.

It’s hard to be detached when you are reviewing your own business. Miles Management Consulting acts as an objective third party to help you keep focused and make the right decisions.

From analysing your current situation to identify new opportunities, we will set you and your business on the path to achieving your goals.

3-Way Strategic Budgeting

Most businesses only do very basic profit budgets. Our “3-way” forecasting financial model forecasts your profit, cash flow and balance sheet.  It is based on the key drivers and assumptions in your business and, if done properly, can be a great management tool to assist in tracking future performance.  The “3-way” financial model is often used by business owners, senior leaders, managers, banks and other parties providing capital to determine the funding needs and future financial capacity of the business.  This process often highlights the gaps in your existing financial reporting systems.

Financial Management Advisory

Step Two is the “fix it” phase where we work with you to implement financial systems and processes that enable the owners and managers to financially manage the business and provide you with the financial information that is accurate and timely so that you have the right information to make the right decisions.   In this phase we can work with your staff or place one of our highly qualified management accountants on site to get everything implemented. There is also a strong emphasis on making sure that you and your managers have a good understanding of your business’ finances and financial strategies including pricing, capacity planning, budgeting and forecasting.

Financial Reporting

This is where all the hard work pays off. We work with you to develop a suite of management reports that will allow you to monitor the performance of every facet of your business. You will have accurate and current information at your fingertips to help you make more informed business decisions. You will be able to act faster in an increasingly competitive and challenging economy.

Cash Flow Forecasting

It is amazing how many businesses do not know what their immediate cash flow needs are. We can establish a system of regular cash flow forecasting by implementing a 13 week rolling cash flow forecast to help you understand and manage your immediate cash flow needs.

CFO Advisory

We can be your virtual CFO (Chief Financial Officer).  We can give you the high level strategic advice you need to financially manage your business effectively.  We can work with your in-house finance team and your external accounting firm.

At Miles Management Consulting we like to act as your support team and are always available to provide strategic financial management guidance and advice. Most clients like to have a monthly meeting to review their financial situation, others like a more formal quarterly review and some want more intensive support and opt for a virtual CFO or commercial accountant where we place one of our expert consultants on site to work with you and your team.

This can be very effective when you need to improve your financial management, undertake a major project, implement new software or complete a merger or acquisition.

Making the commitment to get the financial management of your business in order is a major step but within 6 months you will have better systems and information to enable you to better manage your business.