Insight Associates provide outsourced accounting and Finance Director services to ambitious and growing businesses. We work as your only resource or with existing staff to give you complete financial support including monthly management accounts, high level financial advice, robust controls and financial systems, funding and business planning, payroll & compliance, VAT returns and statutory compliance.

Successful business leaders have all the information they need to make good decisions…Do You?

Thursday, January 28, 2016

If your business was offered a 0% interest cash injection of £100,000 how would you react?

We think you’d be pretty stoked yet thousands of UK businesses are missing this opportunity each day.
Lloyds Bank Commercial Banking recently reported that British SMEs are owed more than £500bn in outstanding invoices, an increase of more than 70% in two years with the likelihood it will get worse in 2016.

These troubling statistics are further proof that there is a serious lack of financial understanding amongst most UK business owners and the message isn’t getting through on how to address this.
Nearly a third of businesses stated late payments were affecting their cashflow with a staggering average outstanding invoice amount of £100,000.

There is no need for this. Good financial controls can reduce debtor days and negate the need to use other facilities such as invoice factoring.

A new client of ours regularly reported 95 debtor days on invoices totalling £100,000. Within 8 months this was reduced to 50 days and after 12 months this was down to 31 days.

This is just one of many ways in which we give leaders control of their business.
The enthusiasm of creating your own business; doing what you love; in your field of expertise; to make a profit can soon disappear when faced with the daily operational tasks outside of your comfort zone.

Don’t let the fear of finances stifle your business. Help is out there. You just need to know where to look.

Wednesday, January 27, 2016

Every Little Helps!

Tesco's tagline of 'every little helps' may well come back to bite them as the supermarket giant find themselves under continued scrutiny from the Serious Fraud Office for some less than ethical accounting practices.

There is a huge difference between good financial management, bullying tactics and fraud but Tesco seem to have blurred the lines of all three.

The supermarket ombudsman found that Tesco had knowingly delayed paying money to suppliers in order to improve its own financial position with some suppliers waiting up to 2 years to be paid.

YES every little does help...
YES monitoring cash flow and costs is good financial management but...
NO this shouldn't be at the expense of your suppliers and...
NO this shouldn't be at the expense of your reputation.

Come on Tesco you should be better than this.

If you need some professional advice on good financial management give us a call!

Insight Associates, Insight House, Riverside Business Park, Stoney Common Road, Stansted Mountfitchet, Essex, CM24 8PL, UK
Tel: +44 (0)1279 647447 Fax: +44 (0)1279 814512
Insight Associates is a trading name of Financial Catalysts Limited. Registered in England and Wales Number: 5670047. Registered Office as above. Disclaimer | Cookies