The challenge
When the business’s Finance Director resigned, the business was challenged to find a suitable replacement by the end of the month.
Staff departure
Real Group Ltd was established in 2004 and is a provider of psychological training services to the education sector. A decade later, the business was growing fast, with a dozen employees and a turnover of close to £1 million.
So, when the Group’s Finance Director resigned in 2013, it triggered a need to professionalise the company’s financial management so that it could continue to grow smoothly. That’s when they called in Insight Associates.
Real Group
“This is way beyond the relationship we’d have with an accountant,” he said. “It’s added enormous value to our business.”
Instituting robust systems and processes
Real Group Ltd was established in 2004 and is a provider of psychological training services to the education sector. A decade later, the business was growing fast, with a dozen employees and a turnover of close to £1 million.
Initially, we worked with their existing systems, which helped us gain an in-depth understanding of their business and financial situation. Once we had a solid understanding, we instituted a range of new processes to help them manage their accounts more effectively. We took responsibility for their numbers and discovered that they were actually making a greater profit than their previous accounts had indicated.
Next, we migrated them across to our market-leading accountancy software, Exchequer (the predecessor of iplicit, the award-winning software we use today), and provided the directors with clear financial reports. Over several years, we helped Real Group use the financial information we gave them to decide which products to develop and where to allocate resources.
“Way beyond the relationship we’d have with an accountant”
According to one of Real Group’s owners, Alan McGregor, our input allowed him to become a lot more strategic about his decision-making and enabled the company to take several large steps it would never been able to without us.
“This is way beyond the relationship we’d have with an accountant,” he said. “It’s added enormous value to our business.”
400% growth in five years
Eventually, Real Group were in a position where they were able to plan, budget and read their accounts very carefully. They had accurate monthly management accounts to help them make key decisions. They had confidence in where they were financially.
Within five years, the business had grown by 400%.
400% growth in five years
Eventually, Real Group were in a position where they were able to plan, budget and read their accounts very carefully. They had accurate monthly management accounts to help them make key decisions. They had confidence in where they were financially.
Within five years, the business had grown by 400%.
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