Why Transform your Finance Function?
vfdnet is celebrating 10 successful years in business! We thought it fitting at this point to reflect on what our clients tell us that they value ie. transforming finance functions.
vfdnet has progressed a long way since starting out in 2003 and it has been very revealing asking clients what they really value about what we do. Surprisingly clients value ‘what we always do’ which we had completely taken for granted ie. transforming finance functions.
Why transform your Finance Function? This newsletter sets out the many reasons why this is a must.
Our 20 experienced Virtual Finance Directors and Virtual Financial Controllers are all passionate about transforming Finance Functions are here are some of the reasons why:
- Delegate Profit Centre P & Ls to Managers so freeing up crucial business owner time.
- Enables Manager Incentive Schemes to be aligned with interests of business owner.
- Prevents the ‘busy fool’ syndrome by analysing where Profit is earned, not just driven by Turnover.
- Allows Business Plans, otherwise “He who fails to plan is planning to fail“, as Winston Churchill said during WWII.
- Facilitates accurate cash forecasts, helping owners identify cash flow issues, particularly relevant today as we emerge from the recession with possible over-trading problems.
- Helps make the business ‘Investment Ready’ so that the Owner can seek funding to advance his or her plans.
- Helps Acquisitions as it enables the owner to identify his new cash requirement for deals prior to seeking additional funding.
- Best in class Finance Functions are a crucial condition to position your business for a successful Exit.
The End Result
Transforming your Finance Function will allow you to do so much more with your business or with your time. As one client put it ‘transforming our Finance Function allows us to have proper discussions with Banks, investors and potential acquirers.
Have you transformed your Finance Function yet? If so do you agree with these points? Why not contact us to find out what a transformed Finance Function could deliver for you.
If you would like a chat about helping you to build such a Budget please contact us.