Would your finance team pass a MOT?
Would your finance team pass a MOT?
Is your finance function fit for purpose? Do you get all the information that you need to make informed decisions about your company?
Do you have access to forecasts so you can see where your business will be in the next few months and what will be paid in taxes?
If you are going to grow and prosper in your business you need to have a finance functions that gives you the information that you need and that you can understand your accounts and where your company currently is.
Old Banger
Is your finance function the equivalent of a beat up ‘old banger’ Are the wheels falling of your finances you don’t know where you are with any of your accounts they are constantly out of date and when they are up to date there are bits of information missing.
If that is your finances you have an ‘old banger’ of a finance for your company that needs to be put out of its misery sooner rather than later. You need to take your car down to the garage as soon as possible to some serious repairs and maintenance.
Vintage Car
Are your finances the equivalent of a vintage sports car. There’s everything there and in place, but it’s still stuck in the 1960’s. You are still using manual books for writing your accounts up and you give your accountant these each year and ask him to prepare your accounts.
These are okay in some respect, but you are missing out on so much more that you can get from your accountant. Your accounts will always be out of date and you will never know where your books are. If this is your accounts you need to get yourself up to date and start to use online software and start to get up to date information for your business.
SUV
Are your finances the equivalent of an SUV? It’s not the fastest car on the road but it gets the job done. You get the information that you need, you have online software for your company but you are not getting exactly what you want. There is no information as to show where you are with your business at the moment or the information is there but you don’t know how to understand it.
Your finances are slow and cumbersome and you don’t know where you are going properly and a lot of the time you can’t see over the bonnet of your finances to see where the road is and where you need to be pointing in the right direction.
German Sports Car
Do you want your finances to be like a German sports car? You have all the gadgets and your finances are sleek and fast. You know where you are going and you have the latest sat nav in your company so you know the way. You have your accounts up to date and forecasts and budgets for your company so you can understand where you are and make better decisions.
If you want your finances to be the equivalent of a sports car you need to get external help for your company and engage a virtual finance team that can make your finances sleek, up to date and well organised.