This case study article sets out to tell you how your business can generate bigger profits and how you can make smarter decisions with better financial information provided by Specialist Accounting Solutions (Team SAS).
Case Study
Kevin* is the founder and owner of LDI Limited. He has 3 sites, each led by a manager (John, Harriet and Pablo), plus several staff. Kevin gets quarterly consolidated finance reports on LDI from his accountants. But the accountants are slow at preparing these, and numbers aren’t split out by site, so Kevin can’t tell how each site is preforming.
LDI has become less profitable in recent years and Kevin knows that the industry margins are at least 20%, which LDI is not achieving.
The consolidated figures Kevin gets from his accountants don’t help solve the problem. So, Kevin reaches out to Team SAS, who specialise in providing timely, detailed financial reporting.
With the help of the new reports devised and implemented by Team SAS, Kevin can now see that Harriet and John’s sites are doing really badly and need urgent attention.
With the support of Team SAS and the new finance reports, Kevin takes several steps to address the problem:
- Smarter buying procedures are implemented.
- The list of suppliers is whittled down to the most cost-effective ones.
- Pablo, the manager of the most profitable site, provides internal training.
- And a new manager is hired to replace John.
So what happens next?
Six months later, LDI is doing much better. The two sites that were previously underperforming have been turned around and LDI is exceeding the industry benchmark of 20% gross profit.
Kevin and his team at LDI have been able to make better decisions and LDI is now more profitable thanks to better, more granular internal financial reporting provided by Team SAS.
If you think your business would benefit from working with Team SAS, then get in touch and book a free, no obligation meeting today.
*All names and details have been changed for privacy.
If you would like to discuss this matter with an Accountant and Trusted Business Adviser get in touch with us. We are accountants in Reading and offer a range of financial outsourcing services and virtual CFO services. For a free no obligation consultation email info@teamsas.co.uk or call 0118 911 3777.
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