Financial Information Improvement and Requirement for a Business Review for an Orthotics Company

The Situation

The owner manager of an orthotics and mobility company lacked financial information and systems to support his decision making. In addition, the owner was heavily involved in the day to day manufacturing operations of the business, to the detriment of strategic planning.

The Task

I agreed with the owner that I needed to prepare management information rapidly to provide an overall view of the financial situation of the business. In addition I undertook a detailed review of the business, including systems and SWOT analysis.

Action Taken – Provision of Improved Financial Information

I prepared user friendly management accounts for the trading period to date, and engaged a bookkeeper to prepare monthly management accounts thereafter. After concluding a thorough review of the business, I was able to present the report to the owner and stakeholders.

The Result

The owner gained an immediate insight into the state of the orthotics and mobility business. This enabled the owner, together with my assistance, to begin planning a strategy for the future development of the two strands of the business, using improved financial information.

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