The Alpha Financials team is pleased to announce the successful audit and performance review of a growing UK recycling company.
As part of a Renewable Energy Association pilot study, the team worked alongside the SME to carefully analyse and help improve the business by utilising independent and professional support services. For a full summary of the services available click here.
Case Study: An Insight to FPR
Founded ten years ago, the SME has demonstrated significant and impressive organic growth and now has a dominant position in the composting market with annual turnover in excess of £2m. The companies MD wanted an independent financial expert, alongside his existing team, to analyse financial performance to see where further improvements were possible and what marketing strategy was required.
On site for two days, AFE visited the various operational sites, interviewed key staff and reviewed the financial systems to independently evaluate how effective they were in supporting the business. Annual and monthly management accounts were scrutinised before the visit on how the business could be improved. Feedback from the MD was also incorporated into AFE’s analysis.
Outcome: The study identified a number of areas for performance improvement including:
1) New approach to the finance system, focussing on profitability by client and service offering, assist where to develop the business.
2) Improve debtor collection procedures to increase cashflow.
3) Speed up financial reporting to better support the business.
4) Combine the latest financial and physical data to provide regular forecasts and identify threats and opportunities as early as possible.
5) Move to a cloud-based finance system to save costs and improve access to key information by non-finance staff.
MD perspective “We found the financial audit to be of great benefit. AFE highlighted a number of areas that require increased financial control and gave us good advice on how best to deal with them”.
The Alpha Team provides several performance-based services with flexible terms, with director level experience. If you have a question about the content in this blog, or would like to know more about our services, contact firstname.lastname@example.org