Financial process

Accounting advisory services

When it comes to the management of your back-office, it’s important to get your team in order and find a way of ensuring that your financial processes are fit for purpose and deliver value. Often, businesses feel their resources have grown but not necessarily in a way that gives them the capabilities they need for the future

More important than efficient processes, are appropriate controls. Even smaller companies should understand the impact of not having suitable controls and transparency in place within the organisation. It could be a simple issue such as not seeing the unpaid customer invoice reporting every week.

Perhaps sales people have made changes to T&Cs for new clients without approval – or the ‘finance person’ is making payments without anyone checking them. It’s vital to define which parties are responsible for which tasks and when so you can feel confident that you have the right expertise in place. 

There are simple updates you could make to resolve a variety of issues such as these, all of which will impact your business in a positive way, helping you to achieve better results.  Good controls provide everyone with assurance that there are checks and balances keeping the business safe.

Fundamentally, as your business and its demands grow, you will need to review your finance function to understand how it can adapt to become a more efficient and less labour-intensive environment at the heart of it all. It’s time to tighten up.

5 benefits of optimising your financial processes and controls

1

Remove any duplication of effort within your accounting processes – and your business.

2

Take advantage of easy automations that save time and effort for everyone – and reduce your overhead costs.

3

Benefit from the implementation of tighter, more streamlined financial processes.risk of bad debt

4

Trust that appropriate checks and balances are in place and keeping your business safe.

5

Build a back-office ‘platform’ that enables you to grow easily and pain-free.

“YRH Finance Team has given me complete clarity on our finances which means I can sleep a lot easier at night now. They exceed in catering to our individual needs, providing us with a package that's right for us. ”

Olly Richards, CEO, storylearning.com

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Read on to gain insights into how new accounting processes and controls can help your business:

Your guide to accounting automations

Automating aspects of your accounting function can be a fantastic time-saver and will also help you unlock a whole host of benefits. Download the guide to find out how automations can help you:

  • Increase efficiency (cost savings)
  • Improve profits and cashflow
  • Reduce mistakes (and business risk)
  • Save people’s time around the business
View the guide
Accounting automations

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