The growing business handbook : inspiration and advice ... - Sparkler

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258 Growth capital As we have all experienced, in recent years high street banks in particular have been rather lacking in imagination, even for very solid companies, and this has impacted severely on many businesses. We can only hope that matters will improve shortly. Kevin R Smith, managing director, AWS Structured Finance Ltd: tel: 01892 667891; fax: 01892 610891; e-mail: kevin.r.smith@awsconsult.co.uk; website: www.awsconsult.co.uk; and chairman, Aspen Waite Chartered Accountants: website: www.aspenwaite.co.uk.
259 Transforming the finance function 10.3 As you grow, how can your finance function add real value to your business? A report from Ana Barco at CIMA looks at the ways in which its role can change Research and commentary over the past decade described a vision of finance as a function, rather than a physical presence, where transaction processing would be outsourced, specialist advisory teams would deal with areas such as tax and treasury leaving control functions delegated to the business and finance personnel adding value integrated into the operations of the business. But how far has this been achieved in practice? What lessons can be learned? And how can these help the growing company? This chapter explores the following questions: ●● ●● ●● ●● ●● How has the structuring of the finance function developed? Has the finance department disappeared? Should the finance function be a business partner? What is the future for the finance function within the growing company now? What does all this mean for the development of your finance function? The story so far Traditionally, the finance function used to operate in an insular manner but in the last decade there has been a step-change in its role. Finance is now ‘creating value’ in its own right by shaping strategy and tactics. This is made possible by finance business partners who work alongside the business gaining tremendous insights into the business and using their finance skills to bring sharp commercial focus to operations. Sriram Kameshwar, Head of Knowledge Services, Prudential – India For the growing company, the last 10 years have seen real change in the finance function, particularly in cost reduction and reduced headcount and often on the back of IT and improved systems and driven by globalization and highly competitive landscapes. But importantly, more companies are increasingly embedding the finance function operationally in the business, creating a holistic, collaborative
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i THIRTEENTH EDITION THE GROWING BU
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iii The perfect property for your
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v Contents Part One Planning for gr
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Contents vii Patenting costs 49 Wha
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Contents ix Part Four People and pe
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Contents xi 6.3 How to find your id
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Contents xiii 9.3 Licensing 233 Ton
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Part One Planning for growth 1
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3 Business models and competitive a
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Business models and competitive adv
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Business models and competitive adv
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Take a look at the map of our campu
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11 How to compete against fastmovin
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How to compete against fast-moving,
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How to compete against fast-moving,
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17 How to build a growth plan 1.3 A
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How to build a growth plan 19 Next
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How to build a growth plan 21 Opera
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23 The SME economic outlook 1.4 Gra
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The SME economic outlook 25 ●●
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27 The growth opportunity 1.5 Manuf
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The growth opportunity 29 To make t
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31 Managing setbacks and turnaround
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Managing setbacks and turnarounds 3
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Managing setbacks and turnarounds 3
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Part Two Ideas and innovation 37
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39 Whole company innovation 2.1 Inn
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Whole company innovation 41 of a pr
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Whole company innovation 43 create
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Whole company innovation 45 Incenti
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47 Innovating out of recession 2.2
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Innovating out of recession 49 expe
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Innovating out of recession 51 Jacq
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53 Exploring patent information 2.3
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Exploring patent information 55 ●
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Exploring patent information 57 Mr
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59 IP challenges for technology ven
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IP challenges for technology ventur
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IP challenges for technology ventur
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65 Making open innovation work 2.5
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Making open innovation work 67 the
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Making open innovation work 69 an i
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Part Three Gaining market share 71
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73 Taking your brand to the next le
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Taking your brand to the next level
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77 With over 1,000 titles in printe
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79 Market intelligence 3.2 Nick Hag
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Market intelligence 81 table 3.2.1
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Market intelligence 83 but also tha
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85 Web marketing 3.3 What’s the p
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Web marketing 87 considerable amoun
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89 Winning new business 3.4 In a do
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Winning new business 91 back away),
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93 Brand rights 3.5 Name? Logo? Dom
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Brand rights 95 trade mark attorney
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97 With over 42 years of publishing
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99 Fit for market 3.6 Confidence is
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Fit for market 101 markets abroad a
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Part Four People and performance 10
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105 Rewarding good performance and
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Rewarding good performance, lowerin
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109 With over 1,000 titles in print
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111 Employment policies 4.2 Belinda
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Employment policies 113 information
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Employment policies 115 Belinda Cop
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117 Taking on an employee 4.3 Help
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Taking on an employee 119 employee
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121 The sharpest minds need the fin
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123 Training for growth 4.4 David G
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Training for growth 125 of the trai
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129 Executive search for smaller bu
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Executive search for smaller busine
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133 Improving workplace performance
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Improving workplace performance 135
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Part Five Cash flow and working cap
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139 ÒThe message is clear - we wan
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141 Cash flow management: an essent
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Cash flow management 143 3 Keep a c
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145 With over 42 years of publishin
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147 Invoice finance for growth 5.2
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Invoice finance for growth 149 the
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Invoice finance for growth 151 ●
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153 Preventing slow payments 5.3 Do
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Preventing slow payments 155 some l
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Preventing slow payments 157 Graydo
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159 Commercial fraud and business i
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Commercial fraud and business ident
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Part Six Efficient SMEs 163
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165 Build the network 6.1 As you gr
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Build the network 167 essential net
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169 The sharpest minds need the fin
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171 Strategic sourcing 6.2 Plan to
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Strategic sourcing 173 So, how and
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175 How to find your ideal office 6
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How to find your ideal office 177 a
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Part Seven Leading growth 179
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181 How small business owners can b
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How small business owners become be
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How small business owners become be
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187 Developing the next layer of ma
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Developing the next layer of manage
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191 The leadership process 7.3 With
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The leadership process 193 Although
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197 Ethics and the growing company
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Ethics and the growing company 199
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Ethics and the growing company 201
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Part Eight International expansion
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205 Competing and collaborating wit
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Page 231 and 232: 217 The export challenge 8.3 As a g
Page 233 and 234: The export challenge 219 Market Acc
Page 235 and 236: Part Nine Structures for growth 221
Page 237 and 238: 223 Partnerships and collaborations
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Page 241 and 242: Partnerships and collaborations 227
Page 243 and 244: 229 Acquisitions that work 9.2 Stra
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Page 247 and 248: 233 Licensing 9.3 In finding the be
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Page 251 and 252: 237 With over 42 years of publishin
Page 253 and 254: 239 Preparing a business for sale 9
Page 255 and 256: Preparing a business for sale 241 g
Page 257 and 258: Preparing a business for sale 243 L
Page 259 and 260: Preparing a business for sale 245 C
Page 261 and 262: Part Ten Growth capital 247
Page 263 and 264: 249 Funding your business through t
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Page 267 and 268: 253 The sharpest minds need the fin
Page 269 and 270: 255 Structured finance 10.2 Structu
Page 271: Structured finance 257 Factoring or
Page 275 and 276: Transforming the finance function 2
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Page 279 and 280: 265 Index of advertisers A.Steele A
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