PSG - Financial Control

Financial Control

At PSG we believe accurate, comprehensive and up-to-date financial information is essential for business success. At heart we are commercial accountants and the financial control phase is the most important part of what we do.

Even though making sense of the numbers can appear to be a daunting task, our experience has shown that high-quality financial control is the key to improving and sustaining a company’s profitability.

But we don't just work on getting the figures right.

We develop tailored solutions for our customers that meet their operational needs as well as their financial requirements. And we analyse and evaluate their businesses to help drive them forward to success.

Budgeting and Forecasting

Successful businesses plan, plan and plan again. Budgeting and forecasting are the essential components of financial control that take a business from where it is today, to where it would like to be tomorrow.

Our team are available to help you “challenge the norm” in your organisation and formulate a blueprint for future success & growth. We work hand in hand with you showing you the importance of the decision making process in your company and how it influences the overall achievement of your strategic goals.

Underpinning the approach we take is the knowledge that only you can fully implement your business strategy. By taking this approach, we create a co-operative approach to drafting and implementing an organisation’s unique strategy.

More than a simple sum of funding requirements, rolling or monthly budgets can bring into focus current and emerging issues in a rapidly changing business environment.

At PSG, we help your business to remain in control.

We ensure that budgets are continuously updated to reflect new forecasts.

We compare budgeted figures to actual data, so any variations can be easily identified, analysed and explained, allowing companies to take corrective action if necessary.

And because we believe it is our role to help you achieve effective financial control, we help you put cost control plans in place to keep your expenditure in line.

Management Accounting

At all stages of the business life cycle it is important to have a financial control process in place. It makes it easier for your business to operate and relieves the stress that comes from having poor financial management. PSG’s team of experienced accountants can work with your in-house financial team or as an outsourced solution. With either of these services, you have the peace of mind that your finance function is operating to the best of its capabilities.

Whether it’s a detailed profit and loss account, cash flow statement or a balance sheet review, management accounts are a critical component in the financial control mix. Our clients benefit from our online accounting platform at no extra cost, ensuring they always have access to their most up to date financial information.

Cost Analysis

It’s not uncommon for businesses to expand and increase in complexity in an ad-hoc fashion ignoring modern best practice. In these situations change is often difficult and daunting to implement, however in the current economic climate it' is even more critical.

Organisations will often 'panic' and implement a knee-jerk cost reduction programme. Those who have tried it will tell you that while it may have brought some initial savings it's not a sustainable or effective approach for the long term.

We can help your organisation to achieve the right results in the right way by providing practical, hands on expertise.

Cost reduction programs are not just about cutting, they are about knowing where to cut and they need to be undertaken in a structured and systematic manner. Cost reductions if made in the right areas can boost efficiency and help an organisation gain a competitive advantage.

Facility Negotiation

PSG has a strong track record of working with clients to improve their working capital performance and provide both immediate remedies and solutions that give security in the long term. Many businesses will at some point face financial pressures. If your business is experiencing difficulties, our Cash Management services division can help you to survive and turn your business around. We identify the problem areas and work with you in resolving them. The secret is to act quickly and not to ignore signs of distress – they will only get worse. Formal insolvency can often be avoided if we are involved at an early stage.

PSG are a leading, innovative team of specialists with a “can-do” attitude. We have a broad range of services for companies designed to support you through unsettling times.

We have excellent relationships with the main banks and asset based lenders both at branch and corporate finance level and frequently act as intermediaries for our clients in credit facility, lease financing and invoice discounting negotiations. Because we know how the system works and what information lenders are looking for, we can accelerate the application process for clients who may be experiencing credit restrictions. We can also improve a client’s working capital performance by putting in place a comprehensive cashflow policy, as well as advising on problem areas such as bad debtors.