The need for continuous improvement in companies and the sophistication of financial processes make financial consultancy an increasingly indispensable element in the business world.
Over the last few years I have been researching the real needs for this service in business and I have clearly observed that there is a range of company profiles that need financial consultancy as one of the fundamental services for their business activity from the very beginning or shortly after starting up.
Depending on the business model in question and the company’s stage of development, there are different, but no less important, financial control and organisation needs. By this I mean, for example, that a company starting up from scratch does not have the same needs, and its pool is not very complex, or it starts up without financing beyond the founding partners, which will require economic projection, cash flow control, budget control, analysis and control of its strategy, search for initial bank financing, subsidies for the sector, investors, etc. This is not the case, for example, for a company that is already consolidated in its growth, which, a priori, may need to optimise its financial resources, increase its working capital and/or long term, professionalise its financial department, which in many cases does not exist, its administrative organisation, implement financial control policies, growth strategies, short and long-term projections, and so on.
In short, the financial consultancy service covers a wide range of companies. I would go so far as to say that any business owner, entrepreneur or company that, from the outset or at a later stage, considers the growth and stability of its corporate finances as an essential element in its business model, whatever the sector, should consider the services of a financial consultant to ensure successful activity.
Normally companies hire a Chief Financial Officer in their staff at a time when this is unavoidable, among other things due to the high costs involved, but it is more than likely that by this point many opportunities have already been lost along the way, they have not grown as much as they could have done if they had done so earlier, or there is no solid structure and the direct and indirect monetary cost has been very high along the way. Sure, but this is like a dog chasing its own tail, you might think. This is true, and it is precisely for this reason that professionals and companies are created that offer this knowledge as a service, thus democratising the service of financial business management by adapting the cost to the exact position of the client company.
This type of service can be used by companies that are starting their activity with short, medium or long-term forecasts of significant growth, by start-ups or for any other company in any sector, regardless of the stage they are at, but which has already accumulated significant turnover and wants to consolidate its administrative and financial structure, reduce costs, grow sustainably and accelerate its growth with certainty.
In short, financial management consultancy significantly leverages the growth of companies, regardless of their current situation, while at the same time improving the company structure, reducing costs and professionalising management and the image of the company to the outside world.
