MARKET RESEARCH CASE STUDY
How we helped a business with 15 employees and a turnover of £1m within the Market Research sector by utilising our FFO service.
We’re delighted to have been able to help our client from the Market Research sector improve the performance of their Finance Function by utilising our Finance Function Outsourcing service.
We’re going to breakdown how we were able to help into 5, easy-to-digest sections below using bullet points. If you have any questions about what we did, how this approach could benefit your business or would just like to understand FFO in more detail please feel free to get in touch using the form at the bottom of this page.
To start of with, we’re just going to cover off some initial background information on the client.
- Within the Market Research industry
- Turnover of £1m
- 15 employees
- Based in London, UK
Next we’re looking at what the client was trying to achieve by utilising our services.
- Review and advise of operational processes
- Refocus on management time
- Maximise profits
- Obtain insight into the company’s requirement to formulate cashflows showing desired profits
- Shape up for future sale of the business
We then have the current challenges that the client was encountering.
- No management information
- CRM and accounting software not integrated
- Management time wasted on admin tasks and not spent on the core business issues
- Needed improvement in profits
- No insight into cashflow forecast formulation
- Lack of knowledge of business unit profits
The most important part. What were we able to achieve?
- Advised and implemented integration of software systems
- Provide tailored monthly management accounts
- Interacted with senior team and Staff to design and improve ‘strategical decisions making process’
- Analysed profitability of each business unit
- Formulated and provided cashflow forecasting and modelling
- Reviewed and designed invoicing template to send customer invoices from Xero
And how did we achieve all of this? The solution we integrated is below.
- Improved real-time data on Xero
- Accurate and detailed reporting insight into business performance to make informed managerial decisions
- Timely sales/debtor and purchase/creditor information
- On the go ability to upload bills/receipts providing real time financials for business
- Owners/board enabled to make strategic decisions to focus on profitable revenue streams
- Monthly production of financial information providing insights into required monthly T/O to achieve desired profits, increase cashflow which enhances profitability
- 33% cost-savings by using SKS compared to in-house costs
- Provided consistent and timely reporting to the client
Ready To Get Started?
If you would like to understand more about FFO and how it can help your business, or you would like to speak to one of our team about starting the process of implementing FFO into your business, please complete the form below and we will get back to you as soon as possible.