Champion Round-Up  |  5th October

Written by Ged Cosgrove, group managing partner

With Autumn here, and our merger with TLL Chartered Accountants now complete, we saw our Preston Docklands team relocate to Hesketh Bank recently. We are thrilled to welcome the TLL team and their clients to the Champion family and look forward to our united future ahead.

A hot topic across our network of practices has been the importance of timely, accurate and insightful management accounts in the current climate. Business confidence is – happily – high, but we are all aware of some of the issues currently affecting industry. Staff shortages are rising and many of us will have seen the impact of supply chain issues for ourselves on the high street and in supermarkets.

Forward planning is crucial, and this can only exist with sound management information. At Champion, we have invested in new software that is capable of enhancing the management accounts packs we provide for clients. Our advisors will be reviewing the software alongside client KPIs to identify how best to help track pertinent information hidden within your accounts.

Perhaps, for example, a breakdown of sales by customer segmentation would be helpful, or graphics to bring to life your year-on-year comparisons and budget trackers. Each client’s requirements will be different, but our new software is infinitely flexible and accurate, and will help us to spend our time wisely on your behalf – offering additional in-depth analysis and insight alongside our usual advice and support. Crucially, we can project all eventualities, including worst case scenarios, to help you be prepared.

I recommend discussing your management accounts with your Champion advisor. As we move towards the latter half of the financial year, we have time to pinpoint what and how we want to track and change, to drive growth. At Champion, we have a legacy of strong, successful, supported clients, and enhancing our management accounts service will help us to continue this success.

With a roadmap in place and daily good news on the vaccine rollout – and now vaccine booster – there is a renewed sense of positivity in the air. In the business world, this has translated to a rise in confidence, with the hopes of SMEs bolstered by the prospect of (hopefully!) fewer restrictions on the horizon.