FINANCE DEPARTMENT SOLUTIONS FOR SME’s

summ.it can tailor an accounting solution to your business from basic bookkeeping support to small businesses through to strategic board level Finance Director support and  everything in between.  We do this by pulling from our pool of talented individuals at varying levels of ability and experience to give our clients the most efficient and effective solution to their business needs that can support your business as an alternative or working alongside your own people.

Bookkeeper

Start-up and smaller businesses owners often find themselves with limited effective options available for bookkeeping services and we  have seen many examples of business owners taking on this role when they should be concentrating on making their business a success. With cloud based accounting packages and best practice solutions available from summ.it we can offer an effective service as part of a wider offering to your business allowing you to focus on your goals.

EFFICIENCY

MANAGEMENT INFORMATION

summ.it provide engaging Management Information to enable better decision making within businesses. We are consistently told by many observers (specifically VC’s and banks) that our Management Information is second to none.  Providing business with such quality information aids decision making and provides comfort to funders and investors that the business is in control of its finances. We don’t simply produce standard templated accounts. We  discuss what’s important to you and ensure we show this clearly and graphically  in headline format and continually look forwards and not just at the past.

FINANCIAL CONTROLLER

Having accurate visibility on your forward cash flows is vital and often the piece left out by most accountants. A business cannot grow without having a thorough grasp of its cash requirements
– We don’t just report on your cash flows, we manage them for you and give you early warning signs of any problems
– We set up and manage best practice credit control systems.
– We set up simple payment systems planned in advance to tie in with cash flow forecasts.
– We take full responsibility allowing you to focus your attention elsewhere knowing we will advise you when issues arise.

INFORMATION

FINANCE DIRECTOR

It is always good to have an outside view that is free enough from the day to day running of the business to offer a different perspective.  We know this not just from our own work but we do this ourselves.  At summ.it we can offer you strategic Finance Director input into your Board to aid you in achieving your long-term goals and help you keep focused on these.

INFLUENCE

THE SUMM.IT APPROACH

HOW WE WORK

We do the same thing for all our clients – we make sure your internal finances are properly managed and you have clear understandable and useful reporting with all your financial compliance obligations taken care of.

WE TAILOR YOUR SERVICES

This means that we fit what we do to your size, where you are heading, what is important to you, and the budget you have.

STEP 1

We visit you and talk through your business in detail. We follow this with a piece of work that will be quick to deliver, low cost and useful for you to have.

STEP 2

We do the first piece of work. This may be a new set of management information in a better clearer format or a forecast that is needed for the bank. Carrying out this work allows us to get used to how we work and for us to get a feel for you, your people, your business and if there are any vital improvements that need to be made to the way your internal financial systems.

STEP 3

From the initial work done we are in a position to give you a detailed plan of what we can do for you and how often we deliver it.

WE FIX THE FEE

All our clients are charged the same amount every month. We know how important it is that you do not have nasty surprises each month.

WE COMMUNICATE

STEP 1

We establish a team to work for you and make sure we are available .

STEP 2

We talk to you about your finances and the key items of importance and don’t just send you numbers.

STEP 3

We see you very regularly and work with you at your premises.

WE REVIEW

Of course we are always talking to you and constantly reviewing the service we provide but we also commit to an annual review. As we consider ourselves a part-time member of your team this acts in a similar way to an appraisal with one of your own team. With this review we:

– Formally review the work we have done for you;
– Review any changes in your business and any likely changes for the next year;
– Meet with you and agree the service levels for the following year;
– Fix the fee for the following year.

OTHER SERVICES

BUSINESS REVIEW & DUE DILIGENCE

A cost effective check that the finances add up pre-investment. We are experts at managing the internal finances of SME’s and so in a unique position to assist in any due diligence tasks. We have a wide commercial experience of due diligence assignments for many leading VC’s and Private Equity Funds.

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BUSINESS PLANNING & FORECASTING

We work with you to prepare you business plan whether this be for start up, fund raising or sale and produce forecasts including commentary and assumptions to back up your plans.

FUNDRAISING

We are well connected with many different sources of lending and have an excellent reputation with lenders. We are experts  having gone through many renewals and new applications for finance with our clients. Today you need more than security in order to raise finance, lenders are looking for confidence in the management team and  its financial processes and reporting. Having a good track record of financial management is essential and we will provide you with this.

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VC & PRIVATE EQUITY SUPPORT

summ.it has extensive experience of working with a wide range of venture capital and private equity firms. Growing a successful business is not easy but statistics have shown repeatedly that engaging a good quality accountant significantly  reduces the risk of failure. Whilst offering all of the summ.it services tailored to yours and your investee companies needs we can act as a trusted financial mentor  for non-financial members of the management team. We can help de-risk investments by ensuring you know you will have accurate financials on time and in a clear unambiguous format.

COMPLIANCE

Ok it’s dull – but it has to be done. We can help offer:

– Year end statutory accounts;
– Corporation tax computations and returns;
– VAT including EC Sales Lists and Intrastats.

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CONTACT US

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