Achieving wealth creation is not just down to luck; rather it is the end of a journey that starts at incorporation and finishes when the you exit the business or decide you have the desired lifestyle from your business.
The finance function and in particular the Finance Director should be focused primarily on making this happen, he/she should play a pivotal role in all the commercial decisions of the business and work closely with other senior non finance managers within the business to ensure the primary focus is on long term wealth creation.
good quality of earnings; and
are key to this. Being able to demonstrate this is paramount.
Transparency therefore is key to success, this manifests itself in:
1. Availability and accessibility of information;
2. Accuracy and completeness of information; and
3. A true understanding of how that information affects value.
Data capture and reporting is key to the whole process. That means efficiently and cost effectively collating, storing and presenting information that is key to understanding, controlling and planning your business.
Establishing processes to consistently do this whilst being scalable is essential. Systems and processes should be
sufficiently documented to allow any reasonably trained employee to cover roles.
Identifying appropriate Key Performance Indicators (“KPI”) and the development of appropriate processes to capture, analyse and interpret them are essential.
We have extensive expertise in the development of KPI based planning models and will assist in the integration of these into regular reporting, ensuring there is accurate commentary on variations from them.
Longford Collins is ideally placed to assist you and your team with this journey; we have had considerable experience of building wealth and assisting owners and shareholders to realise this wealth.