Management information, reporting and forecasting
A fractional CFO can significantly benefit growing businesses by creating systems, processes, and reporting controls that maximise security (mitigating the risks of a cyber attack and GDPR breach) and are efficient and proportionate to your needs. They can do this in the following ways:
- Conduct a thorough review of the existing financial systems processes and controls. This involves evaluating current practices, identifying bottlenecks or risks, and assessing the systems’ alignment with the company’s growth objectives.
- Leveraging their extensive experience, a Fractional CFO can introduce industry best practices and solutions that have been effective in similar businesses or industries.
- Implementing advanced financial technologies to improve data accuracy, enhance reporting capabilities, and provide financial insights.
- Strengthen the company risk management framework by identifying financial and operational risks and implementing appropriate controls to mitigate them, reducing the risk of fines or legal issues.
- Refine financial reporting processes to ensure accurate, comprehensive and timely financial reports and provide the specific insights management needs to make informed strategic decisions.
- Identifying opportunities for cost savings and efficiency improvements which may involve renegotiating supplier contracts, optimising inventory management or reducing wasteful spending.
Related article | How ireport helps visualise management information
Industry: ServiceNow Partner
Provided a high level of strategic pre-exit management information and reporting which helped to prepare the business and articulate its vision for scalability. Our support consisted of extracting the financials, exploring value, and using these data points to present management information around the cost of sales and cost of delivery.
Industry: Subsidiary of a large software company
Appointed to provide management with advice and information on specific details related to post-acquisition earnout modelling, integration with the parent company and implementation of business strategy at a local level.
Industry: Tour operator
Engaged to provide a reporting tool to analyse data from a booking system, in addition to accounting protocols in multiple jurisdictions. Presented this information to the leadership team to action. Produced a business intelligence dashboard, based on Microsoft’s PowerBI data visualization software.
Industry: Management consulting
Appointed by a Top 100 Sunday Times Small Business and oversaw growth in revenue, a 733% increase in headcount and delivered year-on-year sales growth of 40%. Strengthened financial accuracy, real-time reporting and provided management with information on financial wellbeing.
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