At Secantor we have always valued the benefit of being embedded in the local professional an banking community.
www.secantor.co.uk now represents finance support (part - time FD) within Wales and the Midlands, whilst connected with other Secantor regions to provide the added benefit of a wide base of knowledge to deliver the very best for our clients.
In the Midlands and Wales the business is led by Nigel Bacon https://www.linkedin.com/in/nigel-bacon-3b6865b/ who has many years professional and business experience to support SMEs with a team of qualified accountants and also supported with HR and Health and Safety expertise.
See our client testimonials on youtube https://www.youtube.com/watch?v=8DIm8jKdfU4
Nigel Bacon
CEO Secantor
www.secantor.co.uk
Secantor
Showing posts with label Business Support Outsourcing FD Finance Director. Show all posts
Showing posts with label Business Support Outsourcing FD Finance Director. Show all posts
Sunday, 16 April 2017
Wednesday, 10 December 2014
Valuing People Businesses and Adding Value to People Businesses.
I think it is fair to say that we are experts at valuing and operating people businesses. That is partly because we are a people business, and secondly, because all of our people have significant business experience, which we share with each other for the benefit of our clients.
Of course, all businesses are, to a greater, or lesser extent, people businesses. These days what used to be "pure play" people businesses can be enhanced through the use of technology, and indeed that is what we have done in our own business. So the value of our business not only lies in the great people that we have, but how we harness and magnify our people's efforts through the use of technology. In that way, we add real value for our clients which is something which others struggle to replicate.
In valuing people businesses the size of business is often a factor. The reason is not so much about growth for growth's sake, if we remember the adage "turnover is vanity, profit is sanity and cash is reality", it is more about dependencies. For instance, I have spent a large part of my career buying recruitment companies and marketing services companies, both of which are highly people dependent. A feature of both of those sectors of the market for smaller businesses is both customer concentration and a dependency on key individuals within the business, which increases the risks for a purchaser. The individuals are usually the owner managers themselves who are often the driving force behind the business. How do new owners ensure that the traction that has been created by that owner manager endures into the future? We have a number of models around acquiring people businesses that can be highly beneficial, and tax efficient, for both the vendor and the acquirer.
People businesses are typically valued around a price earnings ratio based on a cash free/debt free balance sheet. We can advise clients on how to build and lock in value to their business and how they can make it attractive to the acquirer. This is not a superficial gloss, but forms part of the overall strategic direction that can be built over time.
To find our more on building value into your business contact Nigel Bacon CEO Secantor
www.secantor.co.uk
Of course, all businesses are, to a greater, or lesser extent, people businesses. These days what used to be "pure play" people businesses can be enhanced through the use of technology, and indeed that is what we have done in our own business. So the value of our business not only lies in the great people that we have, but how we harness and magnify our people's efforts through the use of technology. In that way, we add real value for our clients which is something which others struggle to replicate.
In valuing people businesses the size of business is often a factor. The reason is not so much about growth for growth's sake, if we remember the adage "turnover is vanity, profit is sanity and cash is reality", it is more about dependencies. For instance, I have spent a large part of my career buying recruitment companies and marketing services companies, both of which are highly people dependent. A feature of both of those sectors of the market for smaller businesses is both customer concentration and a dependency on key individuals within the business, which increases the risks for a purchaser. The individuals are usually the owner managers themselves who are often the driving force behind the business. How do new owners ensure that the traction that has been created by that owner manager endures into the future? We have a number of models around acquiring people businesses that can be highly beneficial, and tax efficient, for both the vendor and the acquirer.
People businesses are typically valued around a price earnings ratio based on a cash free/debt free balance sheet. We can advise clients on how to build and lock in value to their business and how they can make it attractive to the acquirer. This is not a superficial gloss, but forms part of the overall strategic direction that can be built over time.
To find our more on building value into your business contact Nigel Bacon CEO Secantor
www.secantor.co.uk
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
Monday, 23 June 2014
The changing world of funding part 3
Asset Based Finance
Following on from Part 2 http://secantorceo.blogspot.co.uk/2014/06/the-changing-world-of-funding-part-2.html we continue to look at Asset Based Finance with a look into the costs. This is very timely with an article in the Times newspaper today
http://www.thetimes.co.uk/tto/business/industries/banking/article4126960.ece?CMP=OTH-gnws-standard-2014_06_22
regarding some of the practices of asset based lenders which remains an unregulated industry. It has to be said that the Asset Based Finance Association www.abfa.org.uk are making moves to clean some of the practices of the industry but the article highlights the fact that there are often hidden charges "in the small print". The article refers particularly to termination charges/penalties. This has long been an issue for buyers of businesses where they want to use their own providers of finance. Often the agreements specify prohibitive costs for transferring title in the debtor book. Having control of the debtor book is seen as important for a purchaser of a business since they do not want a third party being heavy handed with "their customers" and simply collecting in.
The point that the above raises is that the cost of Asset Based Finance is not simply about interest charges. The following ought to be considered when making comparisons between alternative providers of finance and indeed, when comparing with other sources of finance. look out for the following costs and charges and also examine the interest rates;
Arrangement Fees / non-refundable commitment fees
Due Diligence and audit costs / annual maintenance fees
Unutilised facility fees
Covenant compliance fees
Termination fees (referred to above)
Other things to consider are your own company costs of reporting and being compliant with the lending agreements.
Whilst Invoice Discounting or Factoring can be an effective way for a small business to get funding for growth, business owners should be aware that it can increase the complexity of the business. It is critical for businesses to manage their cash effectively whether you have Asset Backed Financing, or not. Secantor www.secantor.co.uk can help with this process through helping to plan the funding requirement and to source the correct mix of funding.
In Part 3 we will continue with the Asset based Finance theme and extend it into other areas, particularly the all important supply chain.
Following on from Part 2 http://secantorceo.blogspot.co.uk/2014/06/the-changing-world-of-funding-part-2.html we continue to look at Asset Based Finance with a look into the costs. This is very timely with an article in the Times newspaper today
http://www.thetimes.co.uk/tto/business/industries/banking/article4126960.ece?CMP=OTH-gnws-standard-2014_06_22
regarding some of the practices of asset based lenders which remains an unregulated industry. It has to be said that the Asset Based Finance Association www.abfa.org.uk are making moves to clean some of the practices of the industry but the article highlights the fact that there are often hidden charges "in the small print". The article refers particularly to termination charges/penalties. This has long been an issue for buyers of businesses where they want to use their own providers of finance. Often the agreements specify prohibitive costs for transferring title in the debtor book. Having control of the debtor book is seen as important for a purchaser of a business since they do not want a third party being heavy handed with "their customers" and simply collecting in.
The point that the above raises is that the cost of Asset Based Finance is not simply about interest charges. The following ought to be considered when making comparisons between alternative providers of finance and indeed, when comparing with other sources of finance. look out for the following costs and charges and also examine the interest rates;
Arrangement Fees / non-refundable commitment fees
Due Diligence and audit costs / annual maintenance fees
Unutilised facility fees
Covenant compliance fees
Termination fees (referred to above)
Other things to consider are your own company costs of reporting and being compliant with the lending agreements.
Whilst Invoice Discounting or Factoring can be an effective way for a small business to get funding for growth, business owners should be aware that it can increase the complexity of the business. It is critical for businesses to manage their cash effectively whether you have Asset Backed Financing, or not. Secantor www.secantor.co.uk can help with this process through helping to plan the funding requirement and to source the correct mix of funding.
In Part 3 we will continue with the Asset based Finance theme and extend it into other areas, particularly the all important supply chain.
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
The changing world of funding part 1
The striking feature of bank lending over the past few years has been the increase in asset backed lending and the decline in overdraft lending. Arguably, this has not necessarily been to the benefit of the customer who perceives overdraft facilities as flexible, and easy to use. Of course, on of the key reasons for the decline in overdraft lending has been the decline in the security available on overdrafts as a fixed charge over book debts (often the major realisable asset in a business) is no longer available.
Of course there is an argument to say that asset backed lending, particularly in the form of invoice discounting or invoice factoring, is appropriate for growing businesses. Whilst there will be a lending cap, such a facility enables the business to attract more funding as its turnover grows and as its debtor book (outstanding sales invoices) grows. Of course, the opposite is also true in that a decline in turnover will lead to a decline in funding. You may say that is not relevant if you have a young growing business, however, problems can arise if there are temporary dips in trade which may lead to short term losses that require funding, and asset backed lending can be seen as inflexible in such circumstances.
I the late 80's there were a number of American banks that entered the UK market who were not only prepared to fund debtors (at 70% - 90%) but also stock, commonly at around 50%. There were, and still are, a number of issues that surround the funding of stock. Some of the key issues are whether the business actually has title to the stock, since suppliers often have retention of title ROT clauses in their terms and conditions of sale. What these provide for is that the goods supplied remain theirs until such time as they are paid for. Often when one looks at the make up of stock within a business a large part of the raw material stocks will be covered by ROT clauses and these will be eliminated in a funders calculation of what they may be prepared to lend. Another key issue for a lending against stock is its likely realisable value in the event of a forced sale being required. With debtors where the contract has completed, but for payment, realisations should be high in the event of a business failing, since legally the customers would have no reasons for non-payment. However, the situation is very different in relation to stocks where any attempt to shift large quantities of finished goods will often require very significant discounts to be given to customers or other buyers of goods.
Before a business approaches a funder it is very important to understand the "art of the possible" and what is the appropriate funding mix (debt/equity) that is right for your business. Watch out for part 2 where we will discuss this further.
www.secantor.co.uk
Of course there is an argument to say that asset backed lending, particularly in the form of invoice discounting or invoice factoring, is appropriate for growing businesses. Whilst there will be a lending cap, such a facility enables the business to attract more funding as its turnover grows and as its debtor book (outstanding sales invoices) grows. Of course, the opposite is also true in that a decline in turnover will lead to a decline in funding. You may say that is not relevant if you have a young growing business, however, problems can arise if there are temporary dips in trade which may lead to short term losses that require funding, and asset backed lending can be seen as inflexible in such circumstances.
I the late 80's there were a number of American banks that entered the UK market who were not only prepared to fund debtors (at 70% - 90%) but also stock, commonly at around 50%. There were, and still are, a number of issues that surround the funding of stock. Some of the key issues are whether the business actually has title to the stock, since suppliers often have retention of title ROT clauses in their terms and conditions of sale. What these provide for is that the goods supplied remain theirs until such time as they are paid for. Often when one looks at the make up of stock within a business a large part of the raw material stocks will be covered by ROT clauses and these will be eliminated in a funders calculation of what they may be prepared to lend. Another key issue for a lending against stock is its likely realisable value in the event of a forced sale being required. With debtors where the contract has completed, but for payment, realisations should be high in the event of a business failing, since legally the customers would have no reasons for non-payment. However, the situation is very different in relation to stocks where any attempt to shift large quantities of finished goods will often require very significant discounts to be given to customers or other buyers of goods.
Before a business approaches a funder it is very important to understand the "art of the possible" and what is the appropriate funding mix (debt/equity) that is right for your business. Watch out for part 2 where we will discuss this further.
www.secantor.co.uk
Sunday, 15 June 2014
Secantor partners with Fleet Innovations
At Secantor we are not about selling intellectual property we are about knowledge transfer to enable businesses to fulfil their true potential. Much of this comes from our highly experienced and technically accredited people. However, part of it is about understanding some of the latest products that are in the market place that can help our clients become more efficient. An example of this is the PEAK mileage capture product from Fleet Innovations www.peakmiles.com . Read how you can use GPS technology to take the strain out of mileage expense claims.
http://www.governmentbusiness.co.uk/index.php/company-focus/223-transport/5436-fleet-innovations
www.secantor.co.uk
http://www.governmentbusiness.co.uk/index.php/company-focus/223-transport/5436-fleet-innovations
www.secantor.co.uk
Friday, 6 June 2014
Secantor Supports Equity Investments
As we come to the end of our financial year it is very gratifying to see the number of SMEs where we have helped raise equity funds. From small business angel investments through to organisations such as Oxygen Accelerator www.oxygenaccelerator.com up to the £4m investment that the Business Growth Fund www.businessgrowthfund.co.uk made into Palmer Hargreaves www.palmerhargreaves.com .
We are delivering ongoing support to the SME community...help your business to grow.
www.secantor.co.uk
We are delivering ongoing support to the SME community...help your business to grow.
www.secantor.co.uk
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.
Strategy Days
Our clients fall mainly within the band of £2m t/o to £50m t/o. Many are either family businesses or entrepreneurial businesses run by owner managers.
Many of these clients lack formal management training, but have created successful businesses through hard work, resilience and robustness. These clients want experienced, qualified and commercial people to help them with Strategy and Finance. We are doing a number of roles with clients where I run strategy away days (usually two sessions per annum) and where we might also run their finance function either through a Finance Director or a Financial Controller (depending on the size of business and the requirement these might be part-time roles). This enables me to keep abreast of how the business is doing and "what drives the numbers", so that I can facilitate a strategy day, and, "hit the ground running".
It is amazing what can be gained by taking a step back and having a helicopter view of the business and the market it operates in. This can also help with exit strategies or succession within a business.
To find out more , ring me on 01564 330676
Nigel Bacon
CEO Secantor
www.secantor.co.uk
Many of these clients lack formal management training, but have created successful businesses through hard work, resilience and robustness. These clients want experienced, qualified and commercial people to help them with Strategy and Finance. We are doing a number of roles with clients where I run strategy away days (usually two sessions per annum) and where we might also run their finance function either through a Finance Director or a Financial Controller (depending on the size of business and the requirement these might be part-time roles). This enables me to keep abreast of how the business is doing and "what drives the numbers", so that I can facilitate a strategy day, and, "hit the ground running".
It is amazing what can be gained by taking a step back and having a helicopter view of the business and the market it operates in. This can also help with exit strategies or succession within a business.
To find out more , ring me on 01564 330676
Nigel Bacon
CEO Secantor
www.secantor.co.uk
Saturday, 8 February 2014
Vernon George appointed Regional Director for the East Midlands
I am delighted to announce that Vernon George has been appointed Regional Director for Secantor in the East Midlands.
Following a successful career with NatWest and the IoD, Vernon is ideally placed to help our SME clients in the East Midlands.
uk.linkedin.com/pub/vernon-george/6/a17/975
Nigel bacon
CEO
Secantor
www.secantor.co.uk
Following a successful career with NatWest and the IoD, Vernon is ideally placed to help our SME clients in the East Midlands.
uk.linkedin.com/pub/vernon-george/6/a17/975
Nigel bacon
CEO
Secantor
www.secantor.co.uk
Friday, 20 December 2013
Secantor helps Palmer Hargreaves secure £4m of development capital from the Business Growth Fund
We are delighted to support Andrew Clift, Randy Weeks and all the team at PH to secure £4m of development capital from the Business Growth Fund. http://palmerhargreaves.com/news/palmer-hargreaves-announces-4m-funding-injection-from-bgf .
Well done to John Dernie of Secantor.
Any SMEs wishing to learn more about how to secure development capital should contact us on 07887 826824
Nigel Bacon
CEO
Secantor
www.secantor.co.uk
Well done to John Dernie of Secantor.
Any SMEs wishing to learn more about how to secure development capital should contact us on 07887 826824
Nigel Bacon
CEO
Secantor
www.secantor.co.uk
Tuesday, 26 February 2013
Secantor supports Activ8 funding round
Secantor is pleased to support the the latest funding round of Activ8 www.a8i.co.uk a ground breaking company in the field of HR analytics.
Organisations these days are more and more dependant upon their human capital for their success. HR analytics takes HR intelligence out of the HR department and into the organisation so that performance becomes transparent. This is at the heart of what Secantor do from a financial perspective, taking a finance function from something that is to do with compliance and upgrading it to financial intelligence at the heart of the organisation's decision making process.
The "merger" of HR analytics and financial analytics is a "hot topic" and one which Secantor is proud to be involved with.
Not only does Activ8 look at past performance metrics but combines this with predictave technologies to forecast likely outcomes. A powerful tool in assessing the required criteria for individuals that a business is looking to employ. This is is similar to Secantor's financial approach which seeks to build on historic financial information to forecast "what if scenarios" for SMEs. This effectively reduces risk and maximises return.
Let's get HR and Finance working together to add value for organisations!
Nigel Bacon
CEO Secantor
www.secantor.co.uk
Organisations these days are more and more dependant upon their human capital for their success. HR analytics takes HR intelligence out of the HR department and into the organisation so that performance becomes transparent. This is at the heart of what Secantor do from a financial perspective, taking a finance function from something that is to do with compliance and upgrading it to financial intelligence at the heart of the organisation's decision making process.
The "merger" of HR analytics and financial analytics is a "hot topic" and one which Secantor is proud to be involved with.
Not only does Activ8 look at past performance metrics but combines this with predictave technologies to forecast likely outcomes. A powerful tool in assessing the required criteria for individuals that a business is looking to employ. This is is similar to Secantor's financial approach which seeks to build on historic financial information to forecast "what if scenarios" for SMEs. This effectively reduces risk and maximises return.
Let's get HR and Finance working together to add value for organisations!
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
Saturday, 15 December 2012
Building Your Finance Function Part 1
The best way to build your finance function is with the advice and expertise of an experienced finance director as provided by secantor www.secantor.co.uk . This could simply be a piece of consultancy work or it could lead to an ongoing role. This role does not need to be full time in businesses up to £50m turnover.
The advantage of using a Secantor FD rather than your external accountants, or other consultants, is that the Secantor FD has practical hands on knowledge of using systems and the sort of people that are required to carry out the various functions. This ensures that the information being produced by the finance function is not only compliant with statutory and other requirements but also suits the needs of the business to help managment teams drive the business forward. The old adage is "what gets measured gets done". The Secantor FD "thinks outside the box" and all are commercially experienced as well as financially qualified. This enables them to look at a whole host of indicators that might be useful for a mangement dashboard not just those of a financial nature.
In building or re-shaping a finance function they are alive to the needs of owners/managers and build it in a bespoke way. This can be from total outsourcing, to parachuting in experienced bookeepers, financial controllers or mangement accountants. This also can be done in a flexible way where Secantor might employ them and deploy them on more than one client all under the wing of their experienced FDs.
The thing that really sets secantor apart is its team based approach and reputation for quality that is recognised by the professional and banking communities and clients where we operate.
Why not book a finance healthcheck and find out the benefits of improving your finance function function. Ring Secantor on 07887 826824.
www.secantor.co.uk
The advantage of using a Secantor FD rather than your external accountants, or other consultants, is that the Secantor FD has practical hands on knowledge of using systems and the sort of people that are required to carry out the various functions. This ensures that the information being produced by the finance function is not only compliant with statutory and other requirements but also suits the needs of the business to help managment teams drive the business forward. The old adage is "what gets measured gets done". The Secantor FD "thinks outside the box" and all are commercially experienced as well as financially qualified. This enables them to look at a whole host of indicators that might be useful for a mangement dashboard not just those of a financial nature.
In building or re-shaping a finance function they are alive to the needs of owners/managers and build it in a bespoke way. This can be from total outsourcing, to parachuting in experienced bookeepers, financial controllers or mangement accountants. This also can be done in a flexible way where Secantor might employ them and deploy them on more than one client all under the wing of their experienced FDs.
The thing that really sets secantor apart is its team based approach and reputation for quality that is recognised by the professional and banking communities and clients where we operate.
Why not book a finance healthcheck and find out the benefits of improving your finance function function. Ring Secantor on 07887 826824.
www.secantor.co.uk
Saturday, 13 October 2012
Why we are different
Many companies described as Part-time FD companies are in fact recruitment companies.What this means is that they are unable to add any value beyond the person they might place for their fee.
At Secantor we are a professional service firm employing a team based approach, Not only does this allow clients to benefit from our collective knowledge and wisdom but it also means that our FDs are cost effective in focussing on the high level stuff whilst ensuring the more routine financial tasks are carried out in a cost effective way either through the appropriate level of staff, or indeed, outsourcing.
www.secantor.co.uk
At Secantor we are a professional service firm employing a team based approach, Not only does this allow clients to benefit from our collective knowledge and wisdom but it also means that our FDs are cost effective in focussing on the high level stuff whilst ensuring the more routine financial tasks are carried out in a cost effective way either through the appropriate level of staff, or indeed, outsourcing.
www.secantor.co.uk
Cost and the Effective Finance Function
http://www.youtube.com/watch?v=VkdGsZEDCL8&feature=plcp
The above link takes you to a video where I talk about the Effective Finance Function.
The Effective Finance Function starts with the FD. It is his/her responsibility to ensure that the finance function is effective and needs to build a plan to achieve this. We at Secantor are not prescriptive in how we do this. The answer might be total outsourcing a solution we are able to deploy, or might be a senior bookeeper whom we can source for clients as an employee of our clients or as a Secantor employee.
More and more these days the focus is on cost and in most cases we can revamp a finance function to get improved output (in terms of the quality, reliability and timeliness of information) and also reduce the cost by ensuring the skil mix and mix between full time and part time is right. All of this overseen by an "on demand" Finance Director to ensure that quality is first rate.
Nigel Bacon CEO Secantor Limited
The above link takes you to a video where I talk about the Effective Finance Function.
The Effective Finance Function starts with the FD. It is his/her responsibility to ensure that the finance function is effective and needs to build a plan to achieve this. We at Secantor are not prescriptive in how we do this. The answer might be total outsourcing a solution we are able to deploy, or might be a senior bookeeper whom we can source for clients as an employee of our clients or as a Secantor employee.
More and more these days the focus is on cost and in most cases we can revamp a finance function to get improved output (in terms of the quality, reliability and timeliness of information) and also reduce the cost by ensuring the skil mix and mix between full time and part time is right. All of this overseen by an "on demand" Finance Director to ensure that quality is first rate.
Nigel Bacon CEO Secantor Limited
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.
How Secantor helps businesses obtain funding
Secantor helps businesses of all sizes up to £100m turnover being the upper of the medium sized business spectrum to obtain funding whether it be debt or equity, or the correct balance of both, to obtain the optimum cost of capital when balanced against risk.
Secantor starts by helping SME organisations to define their strategic direction and to properly articulate the strategy into a business plan to attract funding. This is not a "sterile document" but a way of looking at the future which will become embeded in the organisation and continually reviewed and refined.
The difference with Secantor is that we provide an ongoing role as part of the mangement team acting in the capacity of a finance director. This is an extremely cost effective way of obtaining professional input to a mangement team. In addition, the banks and equity funders, with whom we have great relationships, understand that we will be "staying the course" so we will be there to help the organisation to deliver operational success on the back of the strategy. We are therefore very different from consultants who might come in to do a one off piece of work and who do not necessarily have the vested interest of ensuring that long term success is delivered.
Forecasting is often a pre-requisite for a funding application. However, there is far less value in one off forecasting than there is in continual rolling forecasts, where management are able to demonstrate their expertise and give comfort to stakeholders that they are balancing the risk/reward model in an optimal way. Of course nothing ever goes to plan, and there will always be externalities that were not known about, however rolling forecasts give great comfort that management really understand the basic drivers of the business and that they properly understand and are working on the limiting factors. There is a change occuring within the banks where instead of requesting information they are focussing on the quality of their customers' finance function and ensuring that the propoer processes and systems are in place to deliver business intelligence for stakeholders.
As an organisation expands the proper integration of the finance function into the business as a source of business intelligence is essential to attracting finance and giving attracting the support of existing and future stakeholders.
Secantor specialises in converting a finance function from one that is merely compliant (or perhaps not!) to one that quickly becomes a true business partner and is valued by the rest of the organisation.
Secantor starts by helping SME organisations to define their strategic direction and to properly articulate the strategy into a business plan to attract funding. This is not a "sterile document" but a way of looking at the future which will become embeded in the organisation and continually reviewed and refined.
The difference with Secantor is that we provide an ongoing role as part of the mangement team acting in the capacity of a finance director. This is an extremely cost effective way of obtaining professional input to a mangement team. In addition, the banks and equity funders, with whom we have great relationships, understand that we will be "staying the course" so we will be there to help the organisation to deliver operational success on the back of the strategy. We are therefore very different from consultants who might come in to do a one off piece of work and who do not necessarily have the vested interest of ensuring that long term success is delivered.
Forecasting is often a pre-requisite for a funding application. However, there is far less value in one off forecasting than there is in continual rolling forecasts, where management are able to demonstrate their expertise and give comfort to stakeholders that they are balancing the risk/reward model in an optimal way. Of course nothing ever goes to plan, and there will always be externalities that were not known about, however rolling forecasts give great comfort that management really understand the basic drivers of the business and that they properly understand and are working on the limiting factors. There is a change occuring within the banks where instead of requesting information they are focussing on the quality of their customers' finance function and ensuring that the propoer processes and systems are in place to deliver business intelligence for stakeholders.
As an organisation expands the proper integration of the finance function into the business as a source of business intelligence is essential to attracting finance and giving attracting the support of existing and future stakeholders.
Secantor specialises in converting a finance function from one that is merely compliant (or perhaps not!) to one that quickly becomes a true business partner and is valued by the rest of the organisation.
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