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An experienced FD (financial director) will help them make better-informed decisions, drive efficiency and increase responsibility and accountability in the business. All of which, gives them greater confidence in the finance function and lets them develop a long-term strategy to drive profitability and business value.
This relationship can run collaboratively with the current accountant to drive the business further and have a joined up approach to all financial aspects to the business, from the finance team all the way to personal tax planning.
An FD can help to improve your company’s financial reporting by ensuring that your financial statements are accurate and up-to-date. This can help you to make better financial decisions and to identify areas where you can improve your financial performance
An FD can help to increase your company’s efficiency by streamlining your financial processes and procedures. This can save you time and money, and it can free up your time to focus on other aspects of your business.
An FD can help to improve your company’s decision-making by providing you with financial insights and analysis. This can help you to make better decisions about your company’s future, such as where to invest your money, how to expand your business, and how to price your products or services.
An FD can help to reduce your company’s risk by identifying and managing financial risks. This can help to protect your company from financial losses and to ensure that your company is financially stable
If you are looking to expand your business or to launch a new product or service, an FD can help you to secure the financing you need. They can help you to prepare a business plan, to identify potential sources of funding, and to negotiate the terms of a loan or investment.
An FD can help to ensure that your company is compliant with all applicable financial regulations. This can protect you from financial penalties and lawsuits, and it can help to build trust with your customers and investors.
Increased cost savings: An FD can help you to identify areas where you can save money. For example, they can review your current contracts with vendors and suppliers to see if there are any opportunities to negotiate better prices. They can also help you to identify areas where you can reduce your operating costs, such as by streamlining your production process or by reducing your marketing expenses.
An FD can help you to develop a financial strategy that will support your business’s growth goals. They can help you to identify opportunities for expansion, to develop a marketing plan, and to make sure that you have the financial resources you need to succeed.
Overall, an FD can be a valuable asset to your company. If you are looking for ways to improve your company’s financial performance, reduce its risk, and make better decisions, then hiring an FD may be a good investment for your business.
If you are considering hiring a financial director, it is important to find someone who has the experience and expertise to help you achieve your business goals. You should also make sure that the FD is a good fit for your company’s culture and values.
However, if you are not quite ready to recruit a full-time finance director, our FD service will fill the gap. We provide commercial and operational support for companies that need the expertise of an FD, but not yet full-time. You will have a complete monitoring and support service, drawing on our team’s considerable experience dealing with small and medium size businesses. Our FD service is designed around your needs. Visits are typically weekly, fortnightly or monthly, with additional contact when needed. If more specialised advice is needed, you can always draw on all the expertise of the wider Menzies organisation
All of Menzies FDs are qualified chartered accountants who have extensive skills in accountancy, taxation and most importantly, business advisory services. They come from an SME background and know the challenges they face. Their FD solutions service are designed to complement your existing management structure and can typically include:
