Reeves Butchers is a privately owned food business that’s been supplying top quality meat, poultry and game to chefs and the wider catering industry for over 25 years.
The owner already had an effective accounting function, based around the Sage platform. What the business was missing was a more detailed overview of their key business numbers. Our solution was to integrate their accounts with the Spotlight Reporting app, bringing them clear monthly reporting on their business performance, plus FD-level advice from our team.
Before: the original issue faced by the client
The company’s existing accounting system carried out all the day-to-day elements of their bookkeeping and basic accounting for them. But what Reeves wanted was a deeper view of their business information, so they could understand where money was going and could take appropriate action to improve and enhance their underlying performance and profitability.
The core requirements for their reporting were to provide.
- Clear management information
so the business had the numbers and key performance indicators required for improving their underlying financial model.
- Paperless management reporting
to reduce the need for lengthy printouts of hard copy reports from their existing Sage accounting system.
- A better way to understand their costs
so they could remove the question marks over their cost of sales figures and be more proactive with cost management.
- A way to track their gross margin
giving them a way to ensure profitability was worked into their costs, pricing and production processes in their factory.
After: how FLB provided a workable solution
We’ve introduced Reeves to Spotlight Reporting, a cloud-based reporting and forecasting tool that’s transformed the detail they now get in their management reporting. Using data from their Sage accounts, we use Spotlight to create bespoke management information, tailored to track their critical business numbers – while also providing them with FD-level support and advice
With our updated approach to reporting, the business now has:
- Cloud reporting with Spotlight
so the owner has online access to his management information and can dedicate resources to the right areas and the right departments.
- A clear Profit and Loss (P&L) report
broken down by line item so they have the best possible understanding of incoming revenue and outgoing costs and expenses.
- Business performance information
so they can monitor their gross margin figure, manage their fixed costs and can track performance month by month.
- Our My Virtual FD advisory service
so the business has a virtual FD to provide strategic advice, guide their decision-making and help them to increase profitability.
Find out how My Virtual FD enhances your business success
We’ve helped Reeves Butchers to see the real story behind their business. With cloud reporting, high-level business information and the expertise of a virtual FD on the team, they are champing at the bit to start improving their business – with FLB guiding the way.
If you want access to the best possible management information, our My Virtual FD will transform the view you have of your key numbers.