Financial Analytics Analysis
Too many business owners make the mistake of believing that they need to maintain their accounting data so that they can file their tax returns or acquire a bank loan. Using software like QuickBooks is a big step in running your business effectively but the recording of data is not the sole purpose. The real reason is to use the data as the tool it is to assess and evaluate the operations of the business to ensure that it is running as efficiently and effectively as possible.
So what is it?
Financial analysis and analytics is the process of taking your financial data from your accounting system, such as QuickBooks or data derived from your financial statements, and identifying key metrics and information that point to where the company is heading. As you grow your business needs will change and without this key data, you very well may not be able to sustain the growth. Has business backed down lately, why, and what can you learn to prevent a larger loss from happening.
Proper analysis of your prior data allows you to be forward thinking when it comes to sound business decision making. Failure to include the key indicators derived from analyzing your prior data could very well result in significant financial setbacks and quite possibly jeopardize the operations of the company itself.
Our team takes a hands-on approach in helping you build the financial business intelligence that you need to ensure the continued success of your business. Not only do we provide you with these key indicators, but we will also work alongside you or your management team to develop strategies to implement findings in an effort to improve overall operations and ultimately increased profits.
Want to learn more?
Reach out and request a meeting today or give us a call (703) 912-7862 to learn how LeMay & Company (located in Springfield, VA) can work with you and your team to build your financial understanding of your company and better prepare you for tomorrow.