financial-healthcheck-efm

Financial healthcheck

Do you recognise any of these 7 signs?

  1. Is there a hardcore of debt, which never seems to reduce? Significant debtor balances aged beyond 90 days in your sales ledger?
  2. Is your business on stop and do you have to purchase goods on a proforma basis? Reduced credit worthiness?
  3. Difficulties in meeting your monthly/quarterly commitments to PAYE, NI and VAT and the ensuing fines and penalties?
  4. Inability to get accurate and timely financial performance data?
  5. Unsure about which products and services make you money?
  6. Pressure from your business bankers, factoring or finance house to restructure or reduce their facilities with you?
  7. County Court Judgements (CCJs), notice of impending legal action, complaints from suppliers over late payments and consequent breaches of your business credit limits?

What will an EFM Financial Healthcheck tell you?

  1. We review the efficiency of your business and detect possible cash leaks that could result in declining profits for your business.
  2. We offer impartial, expert advice about your true financial situation and alert you on areas that need urgent attention. This comprehensive Healthcheck is a brilliant start towards effective financial management.
  3. We realise that every business is different, so we take a bespoke approach when reviewing the financial condition of your company. Standard principles exist and whilst we will target those areas, we will also look at other unique performance indicators within your business that need urgent attention.

Start here:

For a quick spot check, and your personalised report by email, try our Financial Management Healthcheck tool.

For a comprehensive diagnostic, we address these 6 key areas:business-healthcheck

  1. Documentation/ Recording: Bookkeeping Procedures, Accounting Systems & Deadlines
  2. Planning: Budgeting, Forecasting, Funding Sources, Funding Use & Strategic Direction
  3. Financial reporting: Management Reporting and Statutory Obligations
  4. Controls: Reconciliations, Security, Backup systems, Fraud Prevention
  5. Resource & Employment Model: Tasks, Support, Reward Systems & Leadership
  6. Observations and recommendations: We will highlight opportunities that can be exploited or improved to reduce your financial risk

As a result, our report will enable you and our team to:

  1. Identify key areas of financial risk to the business and develop approaches to manage them6-ticks
  2. Optimise the way capital is allocated throughout the business
  3. Highlight any mismatches between assets and liabilities
  4. Improve financial controls, processes and reporting mechanisms
  5. Propose ways to maximise cash flow
  6. Implement adequate documentation to improve compliance issues

With our specialist team, you get quick cost effective pre-investment diagnostics and due diligence reports and support.

Unlike traditional firms of accountants, we perform these diagnostics with a purely commercial eye and we support you through pre-investment to post-investment stages.

Many investors will stipulate the hiring of a Finance Director – using EFM you can access this level of skill on a part-time flexible basis.

“We really like how the team at EFM work with us. As a start-up business with VC backing, we really needed someone to take us through the ropes and work closely in designing our management accounts. Gary and his team have delivered all the way and more.”

Ernesto Suarez, Halo Insurance Services Limited

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