Financial and Operational Analysis
Insightful Financial and Operational Analysis
Insightful Financial and Operational Analysis
Helping Oklahoma businesses make sense of their dollars.
The Insightful Financial and Operational Analysis Difference
The Insightful Financial and Operational Analysis Difference
Add Time and Capacity
Organizational resource waste costs small business billions each year. Improving upon outdated systems and processes can add time for your back office operations, adding capacity to develop staff and client relationships.
Bottom Line - Top Line
Operational inefficiencies can directly impact your bottom line profits and profitability, adding frustrations and lowering Company value. Adding efficiencies can free up wasted resources to focus toward growing the Top line revenues.
Measures and Metrics
Have your data and reports gotten cluttered over the years? Without knowing, we have seen many businesses measuring some of the wrong things, which can sidetrack progress towards goals.
Seamless Implementation
Are your back office operations and day-to-day finances being managed efficiently? Have you been doing things the same way for years without asking if there could be better ways?
Financial analysis, a competitive advantage.
Many small businesses we have met, have sales and profit-loss projections for their companies. Yet, most of those businesses shared they don’t really understand their budgets and projections and rarely see any of them coming to fruition.
A fraction of these small businesses actually enforce or even utilize their expense budgets.
Fewer still had ever worked with anyone outside of their Company for evaluating the performance and suitability of their budgets and finance-related activities.
Imagine the competitive advantage your business could have simply by understanding and applying even a small amount of financial analysis to daily operations.
A cure for woulda, coulda, shoulda.
Financial analysis can certainly be utilized to dig deep into the finances of a company, and also can be used to evaluate the overall finance-related processes in an organization.
Another term used is accounting controls, which are the methods and procedures used by a company to ensure the validity and accuracy of the financial statements.
If the business ownership is not comfortable with their own knowledge of effective accounting and finance controls, then it can be most helpful to have an outside eye looking in on your accounting controls.
Sometimes there are simply honest mistakes made, other times something more nefarious could be going on. All too often these things are discovered too late, when the damage has already been done and may not be repairable or recoverable.
We are constantly amazed and saddened by the number of preventable and potentially damaging money and finance handling problems we see in small business and we are committed to changing that for the better, one company at a time.
- Josh Morphew, founder
Controls designed to enable your business
Effective accounting controls for a business are much more than a set of rules and processes. They are only useful if understood and followed by all team members.
We find an organization is best served with controls by involving staff in the change process, explaining the reasons for the change, and making sure the methods and processes are in line with Company strategy and culture.
It is likely that as your business has grown and things have evolved, many of the accounting controls and processes have become obsolete or require revision.
Outsourcing some of this burden can be helpful to allow your team to focus largely on their normal ongoing duties within their roles.
Helping develop and implement effective controls
Insightful has the knowledge and experience to assist your operations team in refining your accounting and finance processes to enable and measure business growth.
By working alongside your team, we can help identify the key measurable inputs and outputs, and then reverse engineer them to strengthen your accounting controls and processes. As your communication liaison, we can work with both accounting and operations teams for guidance and monitor feedback to minimize change management issues.
Operational analysis supports financial analysis
Operational analysis is a close cousin of accounting and financial analysis, especially in the modern small business.
With technology linking many of the operational and financial functions and these underlying systems becoming the primary source of data for operations personnel, it is increasingly important the operational goals and financial tracking and measuring are in alignment.
Without proper measurement and tracking of leading and lagging indicators, it is difficult to get real-time feedback on operational change effectiveness.
Insightful Financial and Operational Analysis Can Make the Difference
Some business owners we meet are very skilled in developing and implementing financial analysis and controls, and we are thrilled when that happens. Yet, they sometimes ask us for a second opinion or to help benchmark their processes.
In other cases, financial and operational analysis may be a new concept to a business owner and they want us to work with them to develop some controls and metrics.
If your business could benefit from financial and operational analysis or by developing financial controls, Insightful Tax and Advisory Services welcomes the opportunity to learn how we may help. Schedule a free initial consultation today. Call 405-400-1230.