Benefits of management information
Have you recently had to prepare a forecast or business plan to secure finance to start or expand your business and now wonder how your actual performance compares? Are you simply interested to know which of your business units, products or services are your business’ most profitable?
All business leaders have an idea of where they want their business to go and how they want it to perform. The reality however, is often different and the difficult part is spotting where those differences lie.
Management information (sometimes referred to as management accounts) can allow you to compare costs from month to month to your expectations, helping you to achieve potential savings. It can also help you manage your business’ valuable working capital by identifying potential problems. For example, an increase in debtors without an increase in sales can be a sign that customers may have trouble paying their debts which can put pressure on cash flow.
At Leonherman we can work with you to provide accurate, timely and reliable management information which continually assesses your business’ performance, allowing you to be better prepared to address potential problems before they take hold or to take advantage of future opportunities as they appear.