Today, there are many accounting systems to choose from. In recent years, there has been a move to "cloud" based systems and for those businesses "starting out", this has been a natural choice.
The "cloud" has facilitated the outsourcing, or partial outsourcing model, under which Secantor operates. It has enabled business owners to take advantage of a wide range of financial, commercial and strategic expertise at an affordable price. The trick is to engage the right amount of expertise at the right level and to have this as an "on demand" basis. Accounting systems in the "cloud" help the owner manager, or family business, to control their business, day or night, by having "real time" visibility over the management information.
The fact that the Finance Director might not be physically be at the owners side does not matter. They are on call, on an "as needed basis" . Typically our FDs will visit a business for between 2 days a month and 3 days a week providing a cost effective resource and helping to implement an effective finance function. Whilst the FD may not be "on-site" all of the time the owner/manager has complete and continuous visibility over " real time" management information which monitors the key performance indicators of the business. In many fast moving businesses this is critical to gauge the impact that decision making is having on the performance of the business.
For many established businesses the thought of changing or developing accounting, or management information systems, is full of trepidation. These systems are "mission critical" and the old adage of "why try and fix what is not broken" often comes into play. However, at Secantor we have considerable experience amongst our people of developing and implementing new systems for clients, enabling businesses to remain "cutting edge". We are able to lever off practical experiences of our clients that can provide comfort to taking the next step.
To learn more, please contact Secantor. www.secantor.co.uk
Nigel Bacon
CEO
Secantor
Showing posts with label Business Support. Show all posts
Showing posts with label Business Support. Show all posts
Tuesday, 3 February 2015
Friday, 8 August 2014
The world has changed
It is often said that nothing really changes but in our world but some things have, and mainly based around technology.
Externally, for some of our clients this has proved very exciting. Particularly new internet retailing businesses. One of our clients has developed an offshoot retailing business which has grown from nothing to £0.5m turnover in less than 12 months. This particular business is breaking new ground. However, there are many examples of web based retailers "disrupting" traditional businesses all of which gives rise to opportunities, since if businesses don't move forwards and embrace change, they will inevitably go into reverse, and eventually fail. It is often helpful for businesses to obtain support with a strategic review of their business, since management are generally very much involved in operational matters, and don't regularly stand back and look at the broader picture and the opportunities that might await.
It often helps to have someone challenge their thinking and this does not necessarily mean that this person should have deep industry knowledge, but a good grasp of strategic thinking. Many of our people have this sort of training that wraps discipline around an "away day" to add structure and outcomes. Management often appreciate having an objective person to challenge their thinking in a constructive way.
Internally, we have seen substantial benefits from the IT revolution, allowing us to develop communication systems and automation of our business, for the benefits of our associates and clients. Of course, it has also enabled our prospective, and new clients, to better conceptualise our particular slant on outsourcing and the fact that someone might not always be on a clients physical location does not mean that they cannot be involved on client work and be accountable for that work.
All of this leads us to a brighter future with our clients benefitting from cost effective expertise as part of their team.
www.secantor.co.uk
Nigel Bacon
CEO Secantor
01564 330677
Externally, for some of our clients this has proved very exciting. Particularly new internet retailing businesses. One of our clients has developed an offshoot retailing business which has grown from nothing to £0.5m turnover in less than 12 months. This particular business is breaking new ground. However, there are many examples of web based retailers "disrupting" traditional businesses all of which gives rise to opportunities, since if businesses don't move forwards and embrace change, they will inevitably go into reverse, and eventually fail. It is often helpful for businesses to obtain support with a strategic review of their business, since management are generally very much involved in operational matters, and don't regularly stand back and look at the broader picture and the opportunities that might await.
It often helps to have someone challenge their thinking and this does not necessarily mean that this person should have deep industry knowledge, but a good grasp of strategic thinking. Many of our people have this sort of training that wraps discipline around an "away day" to add structure and outcomes. Management often appreciate having an objective person to challenge their thinking in a constructive way.
Internally, we have seen substantial benefits from the IT revolution, allowing us to develop communication systems and automation of our business, for the benefits of our associates and clients. Of course, it has also enabled our prospective, and new clients, to better conceptualise our particular slant on outsourcing and the fact that someone might not always be on a clients physical location does not mean that they cannot be involved on client work and be accountable for that work.
All of this leads us to a brighter future with our clients benefitting from cost effective expertise as part of their team.
www.secantor.co.uk
Nigel Bacon
CEO Secantor
01564 330677
Friday, 27 June 2014
26 June 2014 Business finance improving, says Cable
The UK is “on the cusp of a very big break through in business finance”, according to the secretary of state for business, Vince Cable Speaking at the launch of a new guide to small business finance, produced by the British Business Bank, ICAEW and 17 other business and finance organisations, Cable outlined a positive picture for the growing army of UK small business owners and entrepreneurs. Pointing out that difficulties accessing finance have been a historic feature of the British business landscape, he said that things were definitely improving. He explained that while early business start-ups are often funded by what he referred to as “friends, families and fools”, and while at the other end of the scale there’s the stock exchange, there’s a huge gap in the middle. “It’s known as the Valley of Death. At least today there are now some oases appearing in this desert. This new guide will help small businesses seeking finance to find those oases.” The Business Finance Guide – a journey from start-up to growth is targeted at anyone running their own business and highlights the wide array of finance types now available to businesses of all size and stage of development. David Petrie, head of the ICAEW’s Corporate Finance Faculty and co-author of the report, said the crucial issue was timing. “What is crucial for business success is to get the right type of funding at the right time. This guide will help businesses achieve that.” Petrie added that because of the unique nature of the partnership behind the report, it would be sure to reach a large proportion of the UK’s 5 million SMEs. “The guide is supported by 19 partner organisations including ICAEW and the British Business Bank. It’s the first time this has happened and together they represent over 1 million members.” Also speaking at the launch, ICAEW’s chief executive Michael Izza highlighted how quickly the finance market in the UK has shifted. “Even since the Breedon Review in 2012, the market has got more complicated. This guide will help people find their way through the complexity. Really this guide is about building on the work done by the Breedon Review. It recognises that if there is not necessarily a shortage of funds, there is a challenge for those running small businesses in being able to be up to date with the new forms of finance.” The guide, which is available free to download here, covers all the various funding and finance options open to small and growing firms as well as pointing readers in the direction of further advice, help and information.
With thanks to Richard Cree of Economia
http://economia.icaew.com/news/june-2014/business-finance-improving-says-cable?utm_source=economianews&utm_medium=articles&utm_content=headlines&utm_campaign=june27
www.secantor.co.uk
With thanks to Richard Cree of Economia
http://economia.icaew.com/news/june-2014/business-finance-improving-says-cable?utm_source=economianews&utm_medium=articles&utm_content=headlines&utm_campaign=june27
www.secantor.co.uk
Monday, 23 June 2014
The changing world of funding part 2
Asset Based Lending
In part 1 http://secantorceo.blogspot.co.uk/2014/06/the-changing-world-of-funding-part-1.html we talked about the growing importance of asset backed lending ("ABL" ) and the decline in overdraft lending. We covered ABL facilities against debtors and also touched on stock which is viewed as a more risky lend, due to the greater uncertainty around realisable values. In part 2 we will be discussing ABL facilities in a little more detail starting with a re-visit on debtors.
Debtors often form the largest class of asset against which facilities are provided. These facilities come from all of the clearing banks but also a multitude of specialised lenders. There are a wide variety of sources of debtor finance. So what are the considerations from an SME perspective.
Management need to consider how their businesses debtor book will be viewed by the lender. Factors to consider here are the size and quality of the debtor book. The incidence of bad and doubtful debts and the quality of the customers from whom payment is due to be received. Customer concentration is also a key consideration, with lenders looking for a good spread to reduce their risk. The nature of the debts is also very important, with debtors looking for a "book" which is easy to collect out in the event that the business gets into trouble. This often precludes businesses who have long term contracts with their customers, or substantially reduces the percentage that lenders are prepared to advance. Warranties that are provided to customers are another factor which might lead to a customer holding back payment if for any reason he felt that the business maybe unable to fulfil a warranty claim. Often SMEs are asked to consider insuring, either in part, or in whole their debts which of course adds to the cost of asset backed lending.
There is now a very sophisticated market in credit insurance with many specialist credit insurance brokers throughout the country. In reality, credit insurers often have as much interest as suppliers as to whether a business survives or fails and we now see the insolvency, and turnaround professions working very closely with the credit insurers. If a credit insurer withdraws cover then an asset backed lender may refuse to advance funds on that debtor account. This puts the supplier in an invidious position. He can continue to supply but he needs to consider that the withdrawal of credit insurance means that the risks have significantly increased. If he continues to supply on credit the business not only needs to fund this, probably out of its own resources, but needs to fully understand the business exposure to a possible bad debt. An alternative is for the supplier to demand pro-forma payments but this may not be possible from a customer perspective.
Clearly, the percentage that an ABL facility provider might advance is a key consideration, but this also needs to be considered in light of the "clawback period". Debtor finance will only be in place for a period following submission of an invoice to a customer. The business needs to look at the payment cycle of its customers and to understand any variability and as importantly the reasons for variability in that payment cycle. Whilst and SME will have terms of trade with its customers and these might typically state that an invoice is to be paid 30 days following the month end of submission, the reality is often very different. As a consequence, a lender might have a "clawback provision" for invoices that remain unpaid for a period of anything between say 60 days and 180 days of the month end, following submission of the invoice. Clearly, from the lenders viewpoint if it has not been paid by then, will it ever be? Sales invoices being time barred from the factoring or discounting facility can have a devastating effect on cashflow. The SME needs to keep on top of its aged debtors and to quickly understand reasons for non-payment and resolve them.
In part 3 we will be looking at further implications for SMEs in deciding whether Asset Backed Lending, is right, or not before moving on to look at other forms of funding that should be considered in different circumstances.
www.secantor.co.uk
In part 1 http://secantorceo.blogspot.co.uk/2014/06/the-changing-world-of-funding-part-1.html we talked about the growing importance of asset backed lending ("ABL" ) and the decline in overdraft lending. We covered ABL facilities against debtors and also touched on stock which is viewed as a more risky lend, due to the greater uncertainty around realisable values. In part 2 we will be discussing ABL facilities in a little more detail starting with a re-visit on debtors.
Debtors often form the largest class of asset against which facilities are provided. These facilities come from all of the clearing banks but also a multitude of specialised lenders. There are a wide variety of sources of debtor finance. So what are the considerations from an SME perspective.
Management need to consider how their businesses debtor book will be viewed by the lender. Factors to consider here are the size and quality of the debtor book. The incidence of bad and doubtful debts and the quality of the customers from whom payment is due to be received. Customer concentration is also a key consideration, with lenders looking for a good spread to reduce their risk. The nature of the debts is also very important, with debtors looking for a "book" which is easy to collect out in the event that the business gets into trouble. This often precludes businesses who have long term contracts with their customers, or substantially reduces the percentage that lenders are prepared to advance. Warranties that are provided to customers are another factor which might lead to a customer holding back payment if for any reason he felt that the business maybe unable to fulfil a warranty claim. Often SMEs are asked to consider insuring, either in part, or in whole their debts which of course adds to the cost of asset backed lending.
There is now a very sophisticated market in credit insurance with many specialist credit insurance brokers throughout the country. In reality, credit insurers often have as much interest as suppliers as to whether a business survives or fails and we now see the insolvency, and turnaround professions working very closely with the credit insurers. If a credit insurer withdraws cover then an asset backed lender may refuse to advance funds on that debtor account. This puts the supplier in an invidious position. He can continue to supply but he needs to consider that the withdrawal of credit insurance means that the risks have significantly increased. If he continues to supply on credit the business not only needs to fund this, probably out of its own resources, but needs to fully understand the business exposure to a possible bad debt. An alternative is for the supplier to demand pro-forma payments but this may not be possible from a customer perspective.
Clearly, the percentage that an ABL facility provider might advance is a key consideration, but this also needs to be considered in light of the "clawback period". Debtor finance will only be in place for a period following submission of an invoice to a customer. The business needs to look at the payment cycle of its customers and to understand any variability and as importantly the reasons for variability in that payment cycle. Whilst and SME will have terms of trade with its customers and these might typically state that an invoice is to be paid 30 days following the month end of submission, the reality is often very different. As a consequence, a lender might have a "clawback provision" for invoices that remain unpaid for a period of anything between say 60 days and 180 days of the month end, following submission of the invoice. Clearly, from the lenders viewpoint if it has not been paid by then, will it ever be? Sales invoices being time barred from the factoring or discounting facility can have a devastating effect on cashflow. The SME needs to keep on top of its aged debtors and to quickly understand reasons for non-payment and resolve them.
In part 3 we will be looking at further implications for SMEs in deciding whether Asset Backed Lending, is right, or not before moving on to look at other forms of funding that should be considered in different circumstances.
www.secantor.co.uk
Friday, 20 June 2014
Become part of the Secantor community on our Linkedin page
Why not become part of the Secantor community and join us on our LinkedIn company page. Share views on SMEs and the type of help and support required to grow their businesses.
https://www.linkedin.com/company/secantor
https://www.linkedin.com/company/secantor
Tuesday, 17 June 2014
The climate is good for scalable investments and disruptive technologies, but what about zombie companies and the threat of interest rate rises?
The tax climate has arguably never been better for investors and particularly those wishing to take advantage of the tax breaks available through EIS and Seed EIS.
Many of these investors are looking to back disruptive technologies that can break new ground and shift the playing field. They are looking for opportunities that can be scaled quickly, on a worldwide basis, through digital marketing channels. At this end of the spectrum, the pace of change is both fast and relentless, driven by the need to retain "first mover advantage", particularly where it is difficult to secure IP on a global basis.
At the other end of the spectrum we have what has become known as the "zombie companies" that remain constrained by both their debt and their often outdated business models. These companies are in a circle which is spiralling the wrong way. Now that the indicators are there for interest rates to rise this could force the position, and these businesses should seek help whilst they still have options.
At Secantor we have the resources and capability to deal with both ends of the spectrum, and everything in between. It is not just about knowledge, although that is hugely important to us as an organisation, where knowledge sharing is a way of life, but also about our connections and credibility with providers of both debt and equity.
Nigel Bacon
Secantor CEO
Fulfilling Business Potential
www.secantor.co.uk
Many of these investors are looking to back disruptive technologies that can break new ground and shift the playing field. They are looking for opportunities that can be scaled quickly, on a worldwide basis, through digital marketing channels. At this end of the spectrum, the pace of change is both fast and relentless, driven by the need to retain "first mover advantage", particularly where it is difficult to secure IP on a global basis.
At the other end of the spectrum we have what has become known as the "zombie companies" that remain constrained by both their debt and their often outdated business models. These companies are in a circle which is spiralling the wrong way. Now that the indicators are there for interest rates to rise this could force the position, and these businesses should seek help whilst they still have options.
At Secantor we have the resources and capability to deal with both ends of the spectrum, and everything in between. It is not just about knowledge, although that is hugely important to us as an organisation, where knowledge sharing is a way of life, but also about our connections and credibility with providers of both debt and equity.
Nigel Bacon
Secantor CEO
Fulfilling Business Potential
www.secantor.co.uk
Sunday, 8 June 2014
West Midlands funders getting behind SMEs
2014 can be described as a year when the pendulum is swinging for the West Midlands.
It is true that much of the growth has been driven by the JLR supply chain, but also the entrepreneurial culture of the region, which is now really starting to flourish. It is really pleasing to see that these innovative companies are securing finance from the likes of the Business Growth Fund,Mercia Fund, Midven, Finance Birmingham, Oxygen Accelerator, and others. it is great to be a part of all of this.
The power of all of this can be seen from the high value sale of Delcam Plc a worldwide 3D software business, principally for the manufacturing industry. It is a great example of how a local business, with good stewardship, can scale into a global business and maintain its market leadership, for the benefit of the region. Well done to Peter Miles and the team, you are to be congratulated.
Nigel Bacon
Secantor CEO
www.secantor.co.uk
It is true that much of the growth has been driven by the JLR supply chain, but also the entrepreneurial culture of the region, which is now really starting to flourish. It is really pleasing to see that these innovative companies are securing finance from the likes of the Business Growth Fund,Mercia Fund, Midven, Finance Birmingham, Oxygen Accelerator, and others. it is great to be a part of all of this.
The power of all of this can be seen from the high value sale of Delcam Plc a worldwide 3D software business, principally for the manufacturing industry. It is a great example of how a local business, with good stewardship, can scale into a global business and maintain its market leadership, for the benefit of the region. Well done to Peter Miles and the team, you are to be congratulated.
Nigel Bacon
Secantor CEO
www.secantor.co.uk
Friday, 6 June 2014
Informed Business Decisions - at the heart of what we do
The intensively competitive marketplace today demands a level and quality of performance measurement unlike any that ever existed. In the not too distant past, making money and winning at business was much easier: Companies could establish a competitive advantage quite easily and keep it for a very long time; market strength was virtually unassailable; customers were much less demanding; and leaders could manage relatively effectively with good-enough strategies and mediocre execution. but today, "good enough" is not good enough.
With thanks to Dean Spitzer
Secantor - supporting businesses to make informed decisions
www.secantor.co.uk
With thanks to Dean Spitzer
Secantor - supporting businesses to make informed decisions
www.secantor.co.uk
Thursday, 13 March 2014
Government's Growth Voucher Scheme
Should you wish to try and gain Government Financial Assistance for some of our services please apply to the Growth Voucher Scheme.
For businesses looking
for advice
For businesses looking
for advice
Businesses looking for advice can apply to the programme online and they will be
randomly assigned to an online questionnaire or face-to-face business advice
assessment.
Some businesses will be randomly chosen to get a voucher for up to £2,000 to help pay for business support in one of the specialist areas. You’ll have to match the amount with your own funds. You can then find a Growth Voucher adviser to work with on the Enterprise Nation Marketplace.
Some businesses will be randomly chosen to get a voucher for up to £2,000 to help pay for business support in one of the specialist areas. You’ll have to match the amount with your own funds. You can then find a Growth Voucher adviser to work with on the Enterprise Nation Marketplace.
Mentoring
We are not a recruitment company, we are a professional services frim/outsourcer dedicated to providing solutions to the SME community.
We do not believe in a "one size fits all" approach to business. The core of what we do is providing an "Effective Finance Function", and this can be done in many different ways. Often I am told by prospective clients that they have a great financial controller or financial manager, but the business has got to a size where reliable historic financial information is simply not enough. In order for the business to grasp the opportunities that might lay head there needs to be a firm grip on "planning and control". The easy answer is to overlay a Finance Director. However, mentoring the Financial Controller to step up a level can be the preferred solution. I am often asked "how can I do that when I am already working full on". The answer often lies in helping everyone in financial function to take a step up which then gets us into the area of effective delegation.
For more about mentoring and effective delegation please ring me on 01564 330676.
Nigel Bacon
CEO
Secantor
www.secantor.co.uk
We do not believe in a "one size fits all" approach to business. The core of what we do is providing an "Effective Finance Function", and this can be done in many different ways. Often I am told by prospective clients that they have a great financial controller or financial manager, but the business has got to a size where reliable historic financial information is simply not enough. In order for the business to grasp the opportunities that might lay head there needs to be a firm grip on "planning and control". The easy answer is to overlay a Finance Director. However, mentoring the Financial Controller to step up a level can be the preferred solution. I am often asked "how can I do that when I am already working full on". The answer often lies in helping everyone in financial function to take a step up which then gets us into the area of effective delegation.
For more about mentoring and effective delegation please ring me on 01564 330676.
Nigel Bacon
CEO
Secantor
www.secantor.co.uk
Thursday, 24 January 2013
Building Your Finance Function Part 2
Building your finance function is not a one size fits all exercise. There are a wide range of choices:
1) There is the people mix, in terms of matching the differing levels of seniority. Why go to a recruiter as the first stage? Prior to this you need to understand the apprtopriate staff mix for the finance function and this is where Secantor can help you; with the decisions about whether you should appoint at the bookeeper level, the mangement accountant level, the financial controller level or a part-time finance director. All of this will mean that you have the appropriate input of expertise and skills at the appropriate level. In this way you will end up saving costs on your finance function by ensuring the right amount of input, at the right level. Many businesses from £2m t/o upwards should have a finance director but you do not usually need a full time finance director until your turnover is in excess of £30m. At this level, it is not so much about time as it is about skills, and experience.
2) Growing businesses need to start to integrate their finance function as an information centre. This then delivers real value by helping management run the business, and to enable effective delegation that is required for growth.To achieve effective delegation mangament need regular information for planning and control purposes. Ensuring that the finance function is delivering value to management is the domain of the FD.
3) At Secantor we have many years of experience of developing finance functions for SMEs. We can help guide you through the maze of what at first sight only appears to be a cost. We can paint a picture for you of how your business might look in the future and the building blocks to get there. An effective finance function should be coupled with stakeholder management, through your part-time FD so that you can focus on growing the business knowing that your investors and bankers are being kept informed. This means that there are no "shocks or surprises" building confidence that mangment are capable of running a larger business.
4) Systems and processes are critical in the development of the finance function and its linkages with other parts of the organisation. Secantor harnesses the talent of all its people to ensure the right solution for you.
5) Outsourcing. We have many clients that simply ask us to run their finance functions with agreed outputs this can not ony be cost effective but scalable to avoid those step changes you might experience through employing extra people.
For a free consultation call us on 01564 330676.
www.secantor.co.uk
1) There is the people mix, in terms of matching the differing levels of seniority. Why go to a recruiter as the first stage? Prior to this you need to understand the apprtopriate staff mix for the finance function and this is where Secantor can help you; with the decisions about whether you should appoint at the bookeeper level, the mangement accountant level, the financial controller level or a part-time finance director. All of this will mean that you have the appropriate input of expertise and skills at the appropriate level. In this way you will end up saving costs on your finance function by ensuring the right amount of input, at the right level. Many businesses from £2m t/o upwards should have a finance director but you do not usually need a full time finance director until your turnover is in excess of £30m. At this level, it is not so much about time as it is about skills, and experience.
2) Growing businesses need to start to integrate their finance function as an information centre. This then delivers real value by helping management run the business, and to enable effective delegation that is required for growth.To achieve effective delegation mangament need regular information for planning and control purposes. Ensuring that the finance function is delivering value to management is the domain of the FD.
3) At Secantor we have many years of experience of developing finance functions for SMEs. We can help guide you through the maze of what at first sight only appears to be a cost. We can paint a picture for you of how your business might look in the future and the building blocks to get there. An effective finance function should be coupled with stakeholder management, through your part-time FD so that you can focus on growing the business knowing that your investors and bankers are being kept informed. This means that there are no "shocks or surprises" building confidence that mangment are capable of running a larger business.
4) Systems and processes are critical in the development of the finance function and its linkages with other parts of the organisation. Secantor harnesses the talent of all its people to ensure the right solution for you.
5) Outsourcing. We have many clients that simply ask us to run their finance functions with agreed outputs this can not ony be cost effective but scalable to avoid those step changes you might experience through employing extra people.
For a free consultation call us on 01564 330676.
www.secantor.co.uk
Thursday, 23 August 2012
The Effective Finance Function - a tool to save you money
We have developed a tool for analysing and scoring the effectiveness of your finance function.
How does this help. Most finance functions grow as an administration function to satisfy the needs of compliance, whether this be with HMRC, your bankers, or to enable information to be produced so that your accountants can produce year end accounts. Many of these finance functions are ineffective from a cost/benefit perspective. We can help you streamline them to reduce costs but also to help bring them into the heart of the business so that they generate regular and useful information to help you manage the business.
Ring Secantor on 01564 330676 and find out how.
www.secantor.com
How does this help. Most finance functions grow as an administration function to satisfy the needs of compliance, whether this be with HMRC, your bankers, or to enable information to be produced so that your accountants can produce year end accounts. Many of these finance functions are ineffective from a cost/benefit perspective. We can help you streamline them to reduce costs but also to help bring them into the heart of the business so that they generate regular and useful information to help you manage the business.
Ring Secantor on 01564 330676 and find out how.
www.secantor.com
Sunday, 19 February 2012
How can a Secantor FD make you money?
All Secantor FDs are focussed on bringing value to businesses. Here are some of the ways they do this?
Firstly, they are not full-time and therefore concentrate on as "little as you need" so that they stay on the shoulder of the entrepreneur or owner manager for the whole of the journey. Their time can increase or decrease according to the needs of a business, at any particular point in time. Their time is therefore utilised in a very cost effective manner.
Secondly, one of the first tasks of a Secantor FD is to ensure that the finance function is set up in an effective way. Often savings can be made in streamlining financial systems and processes not only to save cost, but also to deliver timely, relevant and reliable management information. So often finance departments have grown up in an adhoc way to ensure that a business is complying with the requirements of HMRC and its bank. We often find that routine tasks can be performed in a more effective way and that existing finance staff are capable and willing to do so much more, but need mentoring to achieve this. Driving efficiencies in finance means that the function can cope with greater volumes with little additional cost. Outsourcing maybe be an option but the mission critical nature of finance often means that owner mangers perceive the risks of going this route as too great. However, having a Secantor FD to help them through this process de-risks it leaving owner managers to focus on growing the business.
Thirdly, the Secantor FD will look at the procurement processes and look at ways to implement cost savings without reduction in quality.
Fourthly, the Secantor FD will look at the cost of capital and determine the optimum capital and funding structures available to a business. The reputation of Secantor is important in raising finance whether it be tratidional bank lending, asset based lending, or equity funding from high net worth individuals (business angels) through private equity, to the Alternative Investment Market..
Fifthly, the Secantor FD will look at the balance sheet of an organisation and in particular the working capital elements to see if there are areas for reduction to free up cash or, reduce borrowing requirements. They will use techniques such as economic ordering quantities and optimum stockholding levels to professionalise the management of working capital. A focus on the optimum use of scarce resources is fundemental to an organisation achieving goals that were previously unattainable, due to a lack of planning and control.
The above represent some of the areas where a Secantor FD can quickly make a difference. On top of this all of our FDs will be working with the mangement teams to contribute to the opportunities that might be avaialble to increase sales and profits and cash generation.
Why a Secantor FD? It is obviously true that there are many good indiviaul FDs who are able to help businesses. However, all of our people have gone through a formal recruitment, assessment accreditation process as well as having exemplary career histories before joining Secantor. They all have a desire to pursue a portfolio career with small and medium sized businesses where they can make a difference to performance. They all share the common values of Secantor (see www.secantor.co.uk) and work together to share knowledge, expertise and contacts/connections for the benefit of clients. The impact is demonstrated by the testimonials of our clients http://www.youtube.com/user/secantortv .
Lets talk about what we can do for you - 01564 330676.
Firstly, they are not full-time and therefore concentrate on as "little as you need" so that they stay on the shoulder of the entrepreneur or owner manager for the whole of the journey. Their time can increase or decrease according to the needs of a business, at any particular point in time. Their time is therefore utilised in a very cost effective manner.
Secondly, one of the first tasks of a Secantor FD is to ensure that the finance function is set up in an effective way. Often savings can be made in streamlining financial systems and processes not only to save cost, but also to deliver timely, relevant and reliable management information. So often finance departments have grown up in an adhoc way to ensure that a business is complying with the requirements of HMRC and its bank. We often find that routine tasks can be performed in a more effective way and that existing finance staff are capable and willing to do so much more, but need mentoring to achieve this. Driving efficiencies in finance means that the function can cope with greater volumes with little additional cost. Outsourcing maybe be an option but the mission critical nature of finance often means that owner mangers perceive the risks of going this route as too great. However, having a Secantor FD to help them through this process de-risks it leaving owner managers to focus on growing the business.
Thirdly, the Secantor FD will look at the procurement processes and look at ways to implement cost savings without reduction in quality.
Fourthly, the Secantor FD will look at the cost of capital and determine the optimum capital and funding structures available to a business. The reputation of Secantor is important in raising finance whether it be tratidional bank lending, asset based lending, or equity funding from high net worth individuals (business angels) through private equity, to the Alternative Investment Market..
Fifthly, the Secantor FD will look at the balance sheet of an organisation and in particular the working capital elements to see if there are areas for reduction to free up cash or, reduce borrowing requirements. They will use techniques such as economic ordering quantities and optimum stockholding levels to professionalise the management of working capital. A focus on the optimum use of scarce resources is fundemental to an organisation achieving goals that were previously unattainable, due to a lack of planning and control.
The above represent some of the areas where a Secantor FD can quickly make a difference. On top of this all of our FDs will be working with the mangement teams to contribute to the opportunities that might be avaialble to increase sales and profits and cash generation.
Why a Secantor FD? It is obviously true that there are many good indiviaul FDs who are able to help businesses. However, all of our people have gone through a formal recruitment, assessment accreditation process as well as having exemplary career histories before joining Secantor. They all have a desire to pursue a portfolio career with small and medium sized businesses where they can make a difference to performance. They all share the common values of Secantor (see www.secantor.co.uk) and work together to share knowledge, expertise and contacts/connections for the benefit of clients. The impact is demonstrated by the testimonials of our clients http://www.youtube.com/user/secantortv .
Lets talk about what we can do for you - 01564 330676.
Monday, 10 October 2011
"Our People" showcased
See "Our People" http://www.secantor.com/part-time-finance-director .
I feel really privileged that we have so many good people at Secantor, who can work together for the benefit of clients.
Nigel Bacon
Saturday, 8 October 2011
Unique Service Offering for SMEs
I really think the SME marketplace is begining to understand the unique position we hold . We are so much more than a collection of indiviuals offered by part-time finance director companies. What we offer is holistic services for SMEs built around a team based approach, all of which is achieved in a very cost effective way.
Why have the knowledge of one person when you can exploit the knowledge of over 60 on a national basis?
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