When our client, a fast-growing group operating across multiple entities and currencies came to us, they were facing a familiar but frustrating problem: their month-end close was slow, stressful and riddled with reconciliation issues.
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Welcome to the first post in our new blog series, where we spotlight the key areas we cover at Finling Associates and showcase how our work makes a difference for clients. To kick things off, Adam Garnett, who leads our Cash and Credit Control function shares insights into how we help businesses manage payments securely and efficiently.
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If you read my last blog post on the subject of forecasting, you’ll know that in order to get the most out of any forecasting programme you will need to treat forecasting as an ongoing process, rather than a one-off, fix-up-and-forget exercise. The next question, then, is what kind of a forecast should you adopt for your regular update process?
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At Finling, we pride ourselves on being able to stay abreast of the ever-racing tide of developments in accounting technology. Our team regularly uses this knowledge to make the technology perform in ways that overcome common operational barriers. This means that we enhance the quality and performance of the software we use. Today, we want to share how the technology is progressing with you. Read on for updates on Credit Limits in Xero, Payroll Payments with Modulr, Dext Prepare’s rebrand and Xero’s security step to mandatory two factor authentication.
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Over the past year, we have done an unusually large amount of forecasting work at Finling, no doubt because of the pandemic. So, I have taken a moment to reflect on the role that forecasting plays in business and the best way to implement an effective programme. To achieve long-term results and high-value output from your efforts, forecasting should be a regular process.
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You and your team have probably become used to some remote working practices. But if you initially planned for the short-haul, some of your policies and procedures might not be suitable for the longer-term or even for a mixed approach to working. Here are four ways to set your finance team up for success in this blended working environment.
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What does Open Banking actually mean for business owners? We explain what changes Open Banking brings for startup and scaling entrepreneurial businesses and how to take advantage of the rich opportunities for cost-saving, efficiency and innovation.
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If you’re a real estate entrepreneur in the UK, you’ll know that there are very few tax reliefs available on commercial property. However, you might be sitting on unclaimed tax savings that could be released with the help of a specialised Capital Allowances Review. Read on to find out how it works.
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Some of the very same qualities that helped you succeed as a startup founder are likely to hold you back as you plan to scale up your company.
Here are 5 mindset shifts you need to make to transition from a startup founder to a scaleup founder.
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When your company is on the verge of a sustained growth spurt, it’s all about managing that momentum. Often, this requires seeking funding in order to secure the foundation from which to expand exponentially. However, just because you’ve successfully survived the startup stage, doesn’t mean fundraising necessarily gets any easier.
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Having your book-keeper walk out on you, whether planned or unplanned, can be worrying. As if you don’t have enough on your plate as a busy entrepreneur, now you have to manage the accounts yourself too?
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Many ambitious entrepreneurs want to scale their businesses. While an enormous amount of resources are often required to fuel constant growth, scaling is a more sustainable way of generating more revenue whilst keeping operating costs low. However, scaling successfully is not without its challenges.
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