The Company

Long established UK manufacturer producing low margin products in a small leased factory.

The Challenge

Poor financial control, disorganised accounting and an uncertain amount of underlying creditors. Could we find a path to profitability for the partners?

The Solution

We provided an implementation plan and worked with them over a 24 month period. During that time we moved the business away from low margin work for charities and concentrated on higher margin work.

The accounts were brought in house and prepared monthly. The old handwritten bookkeeping system was moved part by part onto a network of computers. The cash generated by sending out sales ledger statements, helped the company to stabilise the business and increased the cash flow and paid off creditors and the bank overdraft.

New products provided welcome further cash flow and secured the jobs of the existing workforce. One of the new products has turned out to be a market leader in a niche.

The Result

Getting the basics of accounting under control allowed the staff to ascertain costs and margins gave the partners better evidence to make judgements about strategic choices.

Old products were increased in price or production was ceased and new products were chosen with higher gross margin. Cash flow was now allocated to capital expenditure like automation of month end results.

The Benefits

The partners purchased their factory unit from the landlord

Finally there was money in the bank at month end after paying all the bills

All of the features and more found in this bespoke solution are available in our month end reporting tool ConsolReports which totally automates Dashboard reporting and analysis for businesses.