29 Jun, 2020
It goes without saying that many businesses and clients are facing challenging times ahead. Consequently, they will need to adapt their strategy from one of resilience and survival to one of pivoting, leaner operating and flexibility if they’re to grow.
Survive and thrive
At Fathom, we want every business to have the best chance at success. And we know that if you’ve got a true understanding of your business’ numbers, you can make better, more informed decisions. Should I take on that extra staff member or new supplier? How can I improve cash flow? Where can I delay payment and invoice earlier to optimise expenditure? Fathom helps you find the answers to these questions and more, meaning you can move your business forward and avoid potential dangers.
When it’s not ‘business as usual’
To that end, we recently launched our ‘business unusual’ series, which looks at 12 tips for reporting when it’s not business as usual. The accompanying ebook has been downloaded over 1500 times by accountants like you looking to use Fathom to help their clients.
Give us 30 minutes, we’ll give you the answers
However, we wanted to dig a little deeper into six of those tips, to explore and explain what they mean, how they can be used, and how you can get actionable insights to move forward.
In this 30-minute video, we’ll explore the following six key areas.
Know your numbers
Stay on top of your KPIs, and measure the financial and non-financial metrics that really matter to your business.
Track key trends
Visually reveal patterns in your data, and uncover the direction, strength and duration of current trends.
Know your margin of safety and how far revenues can decline before you need to seek help or make changes.
See how you can preserve cash by eliminating, reducing or delaying costs.
Understand your cash flow
Cash flow is the lifeblood of your business, so what’s impacting it the most?
Move the levers with Goalseek
Explore your options and find quick wins that can have the most impact.
The Management consultant and educator, Peter Drucker, famously said ‘you can’t manage what you don’t measure’, so pull up a chair, fire up Fathom (or start a free trial), and watch ‘6 winning tips for management reporting when it’s not business as usual’ now.
Written by Andrew Webb
Andrew is Fathom’s Content Strategist based in the UK. He has a background in journalism and has worked for companies like the BBC and HuffPost, as well as start ups in education and technology. Andrew has also published 5 food books and makes a great pie.