The provision of financial management information can give you a better grounding for those important commercial business decisions, which can aid management and performance monitoring.
Maybe you need to assess the full cost impact before hiring new staff, analyse which are your most profitable products/services, put together a report for your Bank Manager to obtain more funding or see whether your advertising is positively impacting on business performance.
Businesses often have key targets or performance indicators through which they assess areas for improvement or diversification and business data analysis can be useful in so many ways, but it might not be cost effective to employ a full-time Management Accountant.
A contract Management Accountant or Financial Data Analyst can be a helping hand to;
- Identify Key Performance Indicators (KPI’s) for your business
- Help develop reports that can assess your performance against these
- Manipulate and present data for you that can be used for finding funding, advertising and business development purposes
- Develop monthly/quarterly information packs to help drive your business forward
You can have all the benefits associated with having an analyst on hand without the need to employ someone on a permanent basis.