The power of real-time financial information and a rolling forecast can be a game changer and offers peace of mind that key decisions are based on solid data.
We were approached by Natalie Little a Director at truhouse., a successful and growing company providing replacement windows and doors.
The growth in the business was driving a need for more robust financial reporting and forecasting. The start point was to understand the direct costs of the business and most importantly the gross margin. This sets a key target for both quoting and measuring the productivity at the heart of the business.
Once established we could develop realistic sales growth targets and identify when additional capacity would be needed. This then fed in the detailed three-way financial forecast including the profit and loss, balance sheet and cashflow.
Using Xero for the book-keeping linked to Futrli, we are able to report actual performance against budget and update the forecast on a rolling basis every month. As we provide a full service from book-keeping through to management accounts we know the data is robust.
The time efficient way in which the forecast is updated means we can spend more time each month working with the directors reviewing progress against action plans, dealing with challenges and acting on opportunities. When the wider senior team needs to be involved, we have facilitated workshops exploring deeper issues including business values and competitive advantage.
It is a pleasure working with Natalie and Chris who are both open to embracing new ideas and technology and very keen to ensure success is embedded in the business.
Will Abbott, Head of Business Advisory.
Moving to Randall & Payne was a big decision for us, but we’ve seen a step change in the level of support and information we now receive. We believe Will and his team will continue to make significant contributions to the success of our business.
Natalie Little, Director
