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.
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.
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.
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.
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 establish a team to work for you and make sure we are available .
We talk to you about your finances and the key items of importance and don’t just send you numbers.
We see you very regularly and work with you at your premises.
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.
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.
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.
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.
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.