Management Accounts and Analytics: Service Spotlight

Simplified insights from complex data

Understanding finances is a must for any business owner, regardless of the sector in which you operate. And management information, specifically, will play a pivotal role in your capacity to successfully manage your company and move it forward.  

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The GOW approach goes beyond data evaluation and focuses on value creation.  

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Our bespoke management accounts provide clarity, displaying vital metrics in real time, helping you reek the result you truly deserve.  

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Bring Your Data to Life

Going above and beyond, we present you with much more than the mere figures.  

We combine the numbers with extensive, visual representation, bringing your data to life.
These analytics are perfect for aspirational business owners and can be presented and clarified during face-to-face consultations with our expert accountants.

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Ultimate Finance Control

Simply put, management accounts are a set of financial statements that we can prepare for your business, providing clear insight into your financial trading position.
While they aren’t required by law, and don’t have to be filed with HMRC, they’ll heighten your control over your finances to the optimum degree, supporting the growth of your business.

You can choose to have monthly or quarterly management accounts, depending on how closely you want to monitor your business and the information available from other sources.

As a minimum, management accounts include a profit and loss account and a balance sheet.

We will recommend additional performance measures that are best suited to help you monitor and develop your business. For example, you can opt to complement your management accounts with our budgets and forecasts service, allowing you to set spending targets, monitor performance and review long term goals.

Your management report will be easy to understand, making it simple for you to check your progress as well as supporting decision making and planning.

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Actualise Aspirations

In order to successfully grow your business, you need to monitor your money and measure your performance throughout the year.

That means more than just the occasional glimpse at your bank balance. Indeed, a healthy bank balance does not necessarily indicate a healthy company.

Your cash balance is simply a snapshot in time, failing to demonstrate impending outgoings, trading conditions, or the state of your sales pipeline.

Management accounts deliver this data, pinpointing trends in sales quickly.

Enjoy better information for planning growth, diversification and expansion.

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How we Add Value

Our management accounts service helps you keep your finger on the pulse of your business. By monitoring and promptly assessing the impact of the changes you introduce, you can connect the dots and stay on track in various important business scenarios, such as:

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You want to improve your cash flow without jeopardising supplier and customer relationships. ‍

We can estimate the timing and amounts of cash inflows and outflows to find potential pinch-points, and identify ways to overcome them.

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You have set budgets for the year and want to make sure you stay on track.

Your management reports will show how your business is performing against your expectations for expenditure, income, and profits, so we can discuss what adjustments could be made.

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You see some patterns emerging in your business, and you want to understand their effect.

Through analysing your financial data over time, we can identify trends in your business, assess if they are having a positive or negative impact and help you decide how to respond to them.

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Common Conundrums

Management reports produced by our expert advisers take an in-depth look into your business dynamics. This helps you determine the direction to take your business by answering vital questions such as:

• How well are different products or services selling?
• Has a promotion worked?
• What is the best pricing strategy?
• Who are your best sales people and how can you continue to motivate them?
• Which stock should you order more or less of?
• Is a new process saving you money?
• What is no longer working and what effective changes can you make?
• Where should you make further investment in your business?
• What new opportunities are there for growth and improvement?

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Main Benefits

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Better Financial Visibility:

With management accounts, you and your team will have access to real-time financial data, including sales figures, expenses, and cash flow. This will allow you to keep a close eye on your finances and make informed decisions about the business.

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Improved Decision-Making:

With access to accurate financial data, you can make more informed decisions about the future of the business. You can identify areas where costs can be reduced, opportunities for growth, and make better-informed decisions about investment and financing.

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Enhanced Budgeting:

Management accounts help you create and monitor budgets more effectively. By analysing financial data, you can create realistic budgets, identify areas where expenses can be reduced, and adjust budgets as needed.

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Early Warning System:

Management accounts can act as an early warning system for potential financial issues. For example, if sales figures start to drop, you can quickly identify the issue and take corrective action before it becomes a major problem.

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Improved Communication:

Management accounts provide a common language and set of metrics that allow you and your team to communicate more effectively. By providing a clear and concise overview of the business's financial performance, you can ensure that everyone is on the same page.

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Stunning Visual Analytics 

Our management reports are supercharged by Syft Analytics, the renowned interactive and collaborative financial reporting tool.

Collaborate with ease - transform boring reports into interactive and collaborative documents with comments, video upload and user tagging.

Beautiful visualizations - explore beautiful, interactive graphs that help you bring insights to life, guide decision making, and drive growth.

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Let us Help You

Book your 30 minute discovery call today— enjoy a relaxed, no-obligation chat with one of our qualified accounting advisors. We can assess your situation and determine how to best serve and add value to your business.  

Alternatively, you can send us a message with any queries (big or small), and one of our team members will get back to you promptly.

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