The Importance of Good Management Information
Good quality Management Information (MI) is the lifeblood of all successful businesses. It supports the business plan by providing reports based upon performance analysis in areas critical to that plan, with feedback loops that allow for adjustment of every aspect of the business.
Management Accounting
Management Accounting is all about “planning and control” and should be at the heart of an organisation. It forms a key part of the information that appears on a monthly dashboard, which is central to driving your ‘Dynamic Finance Function’.
The key to management accounts is that they should be both timely and reliable. Unfortunately, most small and medium sized companies do not know how to generate accurate forecasts and are therefore unable to create reliable models around ‘what if’ scenarios. This kind of scenario planning is best-practice for larger companies - and now Secantor brings these techniques to small and medium sized businesses.
Part of a Finance Director’s role should be to interpret the key elements of the monthly management accounts for the rest of the Board. Your Secantor business expert will do this through the use of a dashboard that brings together both financial and operational indicators. Rest assured - our dashboards are always bespoke.
The production of monthly management accounts is a task that does not need to be undertaken by your Secantor business expert, but they will ensure that the appropriate information is produced to the correct standard. Secantor can provide this cost-effective service through our support team or help you appoint a suitable part-time or full-time person.
Understanding your KPIs is essential to moving your business forward.
Your Secantor business expert will work with you to identify the Key Performance Indicators for your business and then create an easy to use ‘dashboard’ providing regular, accurate and timely feedback to you and all of your management team
Client Case Study: Property Developer
This client provides a total property package from concept to completion, creating impressive, quality homes and buildings for sale to the private owner, institutions, industrial or commercial clients. The company was an established and highly respected developer with a turnover of £24m and a healthy level of profit, before Secantor was invited in.
“Despite being part-time our Secantor FD quickly became a highly valued member of our team. His overall contribution has been by far higher than I ever imagined possible.”
