The Purpose of a Financial Health Analysis
The purpose is to review the overall financial health of your business – give assurance on what works well, identify gaps and make recommendations for improvement. No, this is not to replace your accountant / finance function, but a complimentary service. Yes, this analysis will provide you with tremendous value, create efficiencies, increase profitability and identify opportunities to grow and scale your business. Yes, this analysis will provide you with an independent expert view of your business and the financial health of your business.
What the Financial Health Analysis Include
- Financial processes and controls.
- Review processes and controls end-to-end (from quote phase to reporting) to create efficiencies and improve overall financial management.
- Overall financial management.
- Overall managing of finances and applying best practice to create efficiencies and increase profitability.
- Costing and pricing strategy.
- Review strategy and calculations.
- Budgeting and projections.
- Determine the effective use of budgeting techniques, projections and measurement.
- Cash flow, debtors, creditors and stock management.
- Review the strategy, management, and measurement for optimisation.
6. Create more value in your business.
- Determining the current value of your business and strategies to improve the value in your business (funding, attract investors etc.)
7. Financial reporting and decision making.
- Determine effective use of management reporting, ratios and financial statements for optimum decision making.
- Review your overall compliance with regulations, tax, Companies Act etc.
9. Risk management including business continuity and fraud risk.
- Identify potential risks including business continuity and risk; and review controls in place t0 mitigate the risks.
10. Vision and growth / scalability.
- Evaluate the overall vision for the business as well as opportunities to grow and scale the business.
What Process do we Follow
You will be completing a comprehensive questionnaire about your business. The responses together with your financial statements / management reports will be independently reviewed and analysed. We use our extensive experience of working with big corporate companies and multiple SMME’s across multiple industries as well as best practice to evaluate your business and identify gaps and potential weaknesses. You will be receiving a detailed report indicating the financial health of each section as well as the overall financial health of your business. Recommendations for improvement and suggestions to create efficiencies, increase profitability and grow your business will be included. There are various options in the form of consulting, training and tools available to help you implement the recommendations.