Helping clients create a more sustainable business

Higher costs, supply chain disruption and rising overheads are all challenges your business clients will be trying to defend themselves against. As an accountant, you’re best placed to help them to create more sustainable and resilient businesses that can thrive in these turbulent times. There are a few simple steps you can take to give your clients valuable insights and strategic support, and foster long-term sustainability.

Monitor their risks and spot opportunities

Keeping a close eye on the financial health of your clients' businesses enables you to pinpoint areas that require attention and develop strategies with your clients to mitigate risks. For example, you could monitor risks to a business’s cashflow posed by an accumulation of late payments and potential bad debts from customers. By seeing these risks early on you could help your clients to implement effective credit control measures, before it’s too late.

With financial data, you can also spot opportunities for your clients. For example, by viewing their funding facilities and accounts, you can help your clients to see when better options are available to optimise their cashflow.

This proactive approach ensures that your clients are well protected from risks and are taking advantage of opportunities to build a more sustainable and financially healthy business.

Identify cashflow gaps

Cashflow is the lifeblood of a business and managing this effectively during an economic downturn is crucial. Monitoring your clients' cashflow and identifying potential gaps beforehand can help clients anticipate and address challenges. You could also help to identify potential areas of improvement, such as reducing unnecessary expenses, and make plans to bridge a cashflow gap if they can’t meet an upcoming liability. With a healthier cash flow, your clients will have a strong foundation for a sustainable future.

View their credit scores and help to improve them

A good credit score is vital for the success of any business: it enables them to access better interest rates, win bigger contracts and secure better terms with suppliers to unlock more working capital at 0%. For your clients, monitoring and improving their credit scores could transform the way they operate, empowering them to seize growth opportunities, optimise their working capital and create long lasting businesses.

Provide access to funding

Access to funding will be an essential way to ensure your clients create a sustainable business. As materials and overheads rise, access to capital could bridge a future cashflow gap to ensure your clients can continue to operate. Providing access to funding will also  accelerate growth opportunities for your clients. With the right business funding clients could invest in more efficient equipment, hire new skilled staff, expand their marketing strategy and seize new opportunities to grow.

By taking these steps, you can empower your clients to create more sustainable businesses and build resilience against economic challenges. Through close monitoring, proactive risk mitigation, improved cashflow management, and access to funding, you become a vital partner in their journey towards success.

Using the Credit Review Service from Capitalise, you can help improve your clients’ credit scores.

Sign up to Capitalise by 31 August 2023, to receive a free credit review worth £495, so you can get started transforming the lives of your clients.

Speak to the Capitalise team to find out more.