Running a small business efficiently is crucial for success. Every decision has a significant impact on its future. As 20% of small businesses fail in their first year. One common reason for failure is poor decision making and planning.
In the early stages of growth, business owners tend to de-prioritize the importance of accounting. Who can blame them when there are sales to be made, products to be perfected, and a company to be built?
When to Grow
As organizations look to build beyond those early stages, finance and accounting take on a critical role. Without a robust accounting process, it becomes nearly impossible to determine product profitability, create budgets/forecasts, or even raise money.
Your Strategic Partner
Basis 365 works with clients who subscribe to our control and CFO plans to help monitor trends, assess business performance, and identify opportunities for improvement. We use applications like Fathom HQ to assist with our analysis, and scenario building.
As a financial analysis and management reporting tool, Fathom HQ is designed to help monitor trends, assess business performance, and identify opportunities for improvement. It integrates with Xero , allowing the Basis 365 team to import financial data to directly.
Tools like Fathom HQ allow us to be more than someone who only crunches numbers for you every month. It enables us to take an active strategic advisor role, advising you on how to reach your goals while reducing costs.