Reporting is the key
At KFMC we’ll help you build a robust corporate performance management system with key insights and using the balanced score card adapted for your business and data visualisation.
Financial analysis alone is not sufficient to managing corporate performance because, by and large, they are lagging indicators – meaning that things must have already gone wrong, before you see it through your financials.
We keep things simple
For small businesses and charities we implement Xero online accounting and performance management software solution. This is indeed an innovation that automates most of the bank reconciliation, bookkeeping process of the Business, most importantly saves the valuable time of Business Owners and Trustees. It is cheap, easy to use, serves as a financial due diligence tool to help manage the finances and funds of the Business remotely from any location. It has the potential of significantly transforming the relationship between the Business adviser/accountant and Business Owners or charity trustee from a once a year engagement for account preparation and IE report to value added advise that helps the Business daily operations including finance. /p>
We use data visualisation tools and apply the concept of balanced score cards pioneered by Kaplan and Norton, then push it further by leveraging its benefits to your unique situation. This helps you understand the relationships between all your key business variables, financial and non-financial indicators including process, people, customers, market share and how they interact to affect your sales and objectives.
Giving you the right information
The key here is not bombarding you with too much information but only the critical few key information that will enable you take action and make decisions to improve your business. For instance, how would a change in customer satisfaction impact sales? Or by how much could we reduce our cost of sales to improve profit margins and how would improvement in our internal processes improve customer satisfaction, business performance and reduce cost of operations if our process were improved? In a nutshell, we’ll help you build a balanced scorecard model that moulds your business model into a predictive index, which is a powerful and essential tool for steering your business through growth, delivering strategy and managing corporate performance.
Control what you can, understand what you can't
Businesses need these indicators to help them manage their corporate performance and deliver on their strategy. We can help you develop and implement a balanced score card that gives you multidimensional financial and non-financial views of their business model. We’ll use this insight to inform your business plans and forecast, so you can manage your business’s controllable variables to optimise sales and increase profitability. In essence, we help you capitalise on opportunities during both recessions and expansions.