Spark were engaged by Brew to look after the full accounting function providing bookkeeping through to monthly reporting and forecasting. Working closely with the directors Spark were able to identify weaknesses within the accounting system and recommend solutions that have improved profitability and cashflow significantly. Meaningful and timely information is produced monthly and reports on profitability and KPI’s that drive the business. Spark have also identified key R&D qualifying projects as a result of working closely with the business that have resulted in large tax savings.

Spark reviewed the processes in place and identified issues around invoicing, with the business often struggling to invoice for ongoing projects in a timely manor therefore profits were being tied up in ongoing uninvoiced work. Using the system operated by the client (Workflow Max) Spark were able to generate a detailed list of all ongoing work each month and work with the client to include missing income in monthly reporting. This has resulted in a better invoicing process and improvements to cashflow. Detailed reviews are completed each month of ongoing projects and monthly reporting is prepared and reviewed with Sure. This has led to a greater level of understanding within the business of profitabilty and where this sits on a monthly basis within the business.

Reporting quickly and efficently each month (within a 7 days of month end) on company performance, using a range of sector specific KPI’s to measure profitability and where relevant benchmarking against the sector. Spark Devloped a system to forecast future performance and understand what was need to hit targets. A rolling forecast was used to predict future results and importantly cashflow on a monthly basis. This allows the directors to make informed decisions as the company has grown and been able to see any potential issues (cashflow, reduction in profits) well ahead of events.

Bert interviewed 5x leading Xero accountants from across the UK. Spark was an outsider as it came through a referral.

They said “The confidence and reassurance Phil gave after one call effectively made their decision. Bert went through the process in full, and felt their ‘gut’ was right. Spark weren’t the cheapest partner of the set, but Bert believed they offered by far the greatest value for money in terms of the experience, knowledge and hand-on approach offered.

We wouldn’t be in the strong position they find ourselves in today if didn’t have Spark. Spark give us the clarity and confidence we need to grow our business. We don’t make a single significant decision without them.

Spark have helped us to focus on profitability. We understand more clearly that taking on the right work at the right rates is the most important decision when impacting the success of the business. This has resulted in our gross profit increasing by 33% over the past two years. This is down to getting to grips with what the figures presented to us mean and then understanding what to do to improve our performance at the operational level.

We are now firmly committed to setting targets for our business and then updating these targets as we progress through the year. This is part of the Spark service and is invaluable to us in understanding both where we are now and how the decisions we make today impact the business in 6 and 12 months time.
Spark are great communicators, nice people to deal with, patient with us (realise we’re not always easy), no bullshit, know their stuff, get things done, and make the complex seem simple.”

Spark identified that the AAS Vehicle Solutions finance system needed updating so they installed a new much simpler user friendly finance system (Xero) replacing their outdated desktop software, supporting them through this transition so it felt almost seamless. As a result AAS Vehicle Solutions have a clear picture of how the business is performing on a monthly basis. This allowed them to quickly gain an understanding of our profitability and identify unprofitable customers and address this situation quickly. AAS Vehicle Solutions had the confidence to renegotiate their terms with key customers as they understood the value they were offering.

With Spark’s support AAS Vehicle Solutions haven’t stood still though, they have improved their finance and operations systems, introducing software that has allowed them to have more control over their business. This has integrated seamlessly with Xero and has proven to be of great value. By introducing these additional systems with Spark’s help we have been able to show customers where time has been spent and help their customers understand the work they are completing which has allowed AAS Vehicle Solutions to become more profitable.

Spark reviews their finances each month and also our forecast year end position allowing us to make changes to the business where necessary and improve performance. AAS Vehicle Solutions now understand their cash position and see potential problems before they happen.
AAS Vehicle Solutions said : “Spark are also the most friendly firm we have worked with, no question is ever to simple, this combined with the management advice is invaluable. We have been with Spark for five year and we have gone from strength to strength. We would recommend Spark to anyone.”