The Sanders Partnership:
"We are the Finance Director
you didn’t think you could afford"
The Advantages of a Finance Director for Your Business
A Finance Director (FD) plays a critical role in any business, especially as it grows and becomes more complex; they also help start up businesses at a critical time. The FD role involves much more than just handling financial operations. An FD contributes to strategic planning, informs business decisions and safeguards the financial health of a company. Here are some of the key benefits of having a Finance Director helping in your business:
1. Financial Management and Control:The FD ensures robust financial management and control, managing cash flow effectively, overseeing budgeting processes, and ensuring the business meets all its financial obligations and complies with regulations and laws.
2. Strategic Planning and Decision Making:Together with the other Directors the FD provides crucial insights and analysis that aids in making forward looking strategic decisions and action plans supported by budgets. An FD will use financial data to identify trends, challenges and opportunities in planning for the future.
3. Efficiency and Profitability:By analysing financial data, an FD can bring insights and identify inefficiencies within the business operations and suggest ways to improve productivity and bottom line profitability.
4. Risk Management:The FD is responsible for identifying and managing financial risks. They put measures in place to mitigate these risks, protecting the business from unexpected setbacks.
5. Fundraising and Investment:If the business is seeking to raise funds, the FD can help structure deals, find potential investors or lenders and negotiate terms. Stakeholder Relations: The FD often plays a crucial role in managing and balancing relationships with shareholders, investors, banks and other stakeholders.
6. Guidance During Growth, Difficulties and Change:During periods of significant growth or change including acquisitions, the FD can provide valuable advice and guidance, ensuring that growth is sustainable and profitable. FD’s can also help manage times of difficulties.
As can be seen, FD’s work as part of the Board of Directors, a team, where the FD reports to and works closely with the Managing Director. Smaller enterprises might not be able to afford a full-time FD, making a part-time (fractional) FD or financial consultancy service an ideal solution. This is where The Sanders Partnership come in….
The Sanders Partnership, How we Help
At The Sanders Partnership, we offer a full range of accountancy and tax services, ensuring robust financial management and control, including cash flow forecasting and budgeting. We couple these with regular management accounts and board meetings, providing insights on business performance and balance sheet management (including stock, debtors and creditors).
Moreover, we deliver a comprehensive finance department solution for your finance records, which can be supplemented by a fractional FD service. This latter offering, available on a retainer basis, provides financial insights and mentoring. In addition to this, we facilitate a financial planning consultancy service, where we can engage with you the business owner on a monthly or quarterly basis to cover strategic planning, including exit planning, risk management, key performance management and profit enhancement. Our flexible range of services cover the full range of support offered by an FD.
We see our role as the right hand person reporting to and working closely with you, the business owner.Our FD experience and specialisms are in working with businesses through major change and also in understanding financial performance where there are concerns over the quality of the financial record keeping, restoring the business financial records to full health where they are not up to the standard required. We have worked with businesses across a wide variety of business sectors and with many operating across several sites.