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A Case Study: Meaningful financial information supports business expansion

The support that our clients need varies depending on their situation

13 Oct 2020

The support that our clients need from us varies depending on their situation, and on what it happening in the wider environment. The clients we provide outsourced accounting services to may ask for help understanding their accounts, or may ask for greater detail on their costs, especially in these uncertain times.

Just before the pandemic took hold, one of our clients had decided to expand their business by developing a new range of products.  To make this happen they needed an initial loan from the bank to cover production, distribution, and marketing costs.

We helped the client gather the information required for the bank’s loan application procedure.

After producing the latest management accounts in Xero, we suggested that the client to link their Xero account with Fathom.  Fathom integrates with Xero to turn accounting data into accounting intelligence, providing indepth analysis to illustrate and track business performance. Using Fathom we were able to design a report for our client. Our customised report included specific key performance indicator tools, to show the profitability, growth, and other key trends of the business.  Our objective was to streamline the loan application process and to improve the monthly reporting information for our client.

We also suggested that our client integrate their accounting software with the app Fluidly ( which enabled us to easily prepare a cash flow forecast for the next 12 months.

As a result of our recommendations our client was really satisfied with the clarity of the information produced and this gave them confidence and reassurance for their meeting with the bank. A couple of days later we received an appreciative email that to say that their loan application had been approved. Our client was delighted to confirm that their new products will be on the shelves of one of the largest retailers in the UK by the end of November 2020.

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