By: Nicola Brazier – YBMYates Baker McLean. Accountants and Business Advisors situated in the Central West of NSW. Offering comprehensive advice for all your financial needs including tax, auditing, business advisory, self managed super funds, specialised industry experience and financial planning.
The new year is well and truly underway. The holidays are over, offices have re-opened, the kids are back at school and you have a bit of time to start thinking ahead. It’s the perfect time to plan for the coming months. In fact, the next four months are the most productive months for our YBM Business Dynamics team with many clients wanting to review the financial year to date, plan for the remainder of the year and extend their planning and forecasting into the new financial year.
Internally, we have been working to grow these services for a number of years and the last two years has really seen a big increase in demand for this. We believe there are several reasons for this.
Firstly, our business clients are looking for this support, largely driven by personal desires to better understand or increase their control over the performance of their businesses. Historically, at this time of year, business owners were busy chasing data and information dated before June last year. However, now our most proactive clients are focusing on figures only as old as last month, and importantly are spending more energy discussing the factors that will impact the figures of the future.
Secondly, the banks are requesting forecasts and management reports much more frequently. There are plenty of factors impacting the changes in the way banks are monitoring and managing their clients, and we are well aware of the frustrations around some of this. Nevertheless, we need to ensure that we can provide this information, in full and on time.
Lastly, we have invested in building an amazing suite of products to deliver these services. There is a range of tools, many cloud based, from the latest performance and variance analysis tools to those that build the three-way forecasts that the bank managers love! Technology aside, we have also seen endless benefits in having much broader conversations with our clients.
Our Business Dynamics services seamlessly integrate with all of our traditional accounting services, so please reach out if you would like more information on any of the services mentioned above. Our goal is to help clients to achieve their goals. Please contact us at: