In any business, it's vital to have accurate information so you know whether you have sufficient resources to produce adequate returns and provide for future development.

This information can also help you:

• raise finance for additional facilities
• motivate your managers and team
• plan for your own income and prosperity (including forward planning to minimise tax)
• provide the peace of mind that your business is growing according to plan.

The right information, and how to get it

There are many Management Information Systems (MIS), but the key factor is whether they provide the data you actually need to make decisions.

For instance, why are most monthly or quarterly management accounts prepared in the same way as annual statutory accounts? They may help fulfil a banking covenant requirement, but don't provide any meaningful information to help you. Wouldn't it be better, and just as acceptable to your bankers, to produce this information in a way that gave you a clearer understanding of your business and helped you make better decisions?

A more worthwhile MIS would help you:

• understand and track your major costs and drivers
• show your key performance indicators
• display actual results against budgets and forecasts
• show trend analyses and non-financial data.

A system that works for you

At Clarity, we'll design an MIS that's relevant to your business, producing high-quality information in a simple and easily understood format. We'll use our extensive knowledge of audit procedures and work with all stakeholders - owners, managers, team members, bankers and advisers - to ensure the system satisfies everyone who needs information to make decisions, or merely to stay involved.

We'll also help you produce forward forecasts and budgets, and compare your actual performance with those forecasts, identifying any trends and discrepancies before they become a problem. This is essential for building business value, and invaluable when preparing your business for sale.

We'll help analyse your key performance indicators and critical success factors, such as:

• generating revenue
• improving productivity within a department or overall
• building your brand
• analysing mix of products.

We'll make sure you monitor the things that matter, so you can constantly progress towards your goals.

A well-controlled, focused business is more likely to achieve its goals, so it's always worthwhile reviewing your Management Information Systems. Contact us now, to get the ball rolling.