How a Health Professional Gained Control, Precision, and Confidence in Managing Their Business
About Client
Our client is a healthcare professional and was referred to us, as they felt that they needed more ongoing support from their accountant than just the year-end reporting.
Challenge
Our client wanted the ability to be able to manage their business with greater certainty and precision.
The Solution
We introduced a full management accounting service to assist our client and we identified the type of information that would serve as an accurate predictor and measure of his business performance.
Together we developed a number of customised and relevant Key Performance Indicators (KPIs), cashflows and budgets.
We also introduced the discipline of holding a quarterly meeting, at which we would collectively review any cashflow or budget variances, assess KPIs and determine if any corrective measures were needed.
The Results
Our client feels reassured about the activities and direction of their business as a result of having clear benchmarks to measure progress.
They are equipped with meaningful and up-to-date data, and is in a better position to make business decisions.
By having regular meetings with us, they also benefit by using us as an ongoing sounding board to plan the future development of his business.
Now a couple of years later, the business is more profitable than ever. Any decisions that need making can be made in a timely manner, and because of this they have never been in more control.
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