CFOs, what's on your agenda?

• “I think its about time we look to review our cost base and non-essential spending in a bid to manage costs and cash. The issue is where do we start?” 
•  “We want to be ready for growth, ready to take advantage of opportunities that arise – but also ready to protect ourselves against potential shocks.  So, we are going to focus hard on improving our working capital cycle to free up cash.” 
• “We’ve seen more insolvencies recently – high profile and otherwise. It feels like time to start checking the credit worthiness of our credit base and consider payment terms again.” 

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Article: Forecasting working capital in a financial model

CFOs and FDs tell us:

• “We acknowledge the need to enhance business performance and remain competitive by investing in productivity, efficiency, and automation. However, our current financial resources are limited, and we are uncertain how to secure the necessary funds at the right price. For example, will we really get cheaper loan fundings if we have better ESG credentials?” 
•  “Our attempts to extend our current borrowing agreements or obtain new financing through our bank have been unsuccessful. What alternative options are available to assist businesses like ours that are no longer being supported by traditional high street banks?”    

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Find out how our debt advisory team can help you to fund your growth ambitions

Register for the upcoming webinar 29 November: Planning for Success in 2024, where we'll be discussing how businesses can continue to secure access to capital

CFOs and FDs tell us:

• “Attracting and retaining talent in the business continues to be a challenge for our organization. How can I ensure we are doing what we can to be an employer of choice in a focused and meaningful way in the face of really tough competition for candidates?” 
•  “How do I know where to invest both effort and money into my employee value proposition to ensure we gain the best return on investment through attraction and retention?” 
•  “How do we ensure that our organisation's approach to inclusion and diversity is reflected in the evolving benefits and support we provide? For example, is there more we can do to flex employee benefits for changes in circumstances throughout their career, such as starting a family, experiencing health issues, or taking on caring responsibilities?” 
•  “How do we ensure our pension schemes not only provide adequate retirement benefits for our employees but also align with the company's commitment to environmental and social impact?” 

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Visit the People Agenda hub and register for upcoming events

Article: Applying ARC (agility, resilience and cost base) to your employee retention strategy

Article: The people agenda: building an inclusive workplace

CFOs and FDs tell us:

• “We hear a lot of hype about AI and machine learning.  We don’t want to miss the bus on this- but equally we don’t want to go too fast when there are risks.  Is the hype warranted? “
• “We have a fair few IT issues and opportunities.  What we don’t have is a plan that takes us away from tactical firefighting into something more like a long-term vision. “
• “We are a small team heavily reliant on spreadsheets for critical financial processes, such as revenue recognition and reconciliations. What steps can we take to ensure a more efficient and streamlined process going forward with minimal disruption and cost?”  

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Watch on demand: Leveraging AI and automation in your finance function

Article: Optimising technology to reach your ARC aims

CFOs and FDs tell us:

• “We are not convinced we have accelerated our tax reliefs to maximise full benefits. I’m considering a historic review of my asset register.” 
•  “With governments seeking to modernize sales, value-added tax, and other indirect tax systems, what steps can we take to prepare the business for these changes, and what challenges should we be anticipating during transition?” 
•  “We are considering the implementation of a tax technology solution for global VAT reporting. What are the key criteria that we should be using to assess and select potential solutions, and how can we ensure that the solution we choose is scalable and adaptable to future changes in tax regulations?”  
•  “We are reviewing our tax risks regarding labour in our supply chain. How does HMRC look at this and what might we consider in our tax risk review?” 

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Watch on demand: What do evolving tax authority practices mean for your business?

Article: Global developments in indirect taxation

CFOs and FDs tell us:

• “What should we consider about ESG and our M&A strategy?” 
•  “What can we learn from the ESG litigation landscape to help us reduce our own litigation risk?” 
•  “As regulations around ESG issues are likely to increase, what key areas should our organisation prioritize to ensure compliance and stay ahead of the curve? How can we proactively identify and address ESG-related risks and opportunities, and what internal processes and standards should we implement to support these efforts?” 
•  “How can we measure and report on our progress towards ESG goals when we don’t necessarily capture all the data, and how can we ensure that these efforts align with our broader business strategy?” 
• “I’ve heard that there are new international sustainability reporting standards, I understand they are not yet in force in the UK and may well only be focused on larger/listed entities initially, but what should I know about them to help me prepare for the future if we do end up falling within their scope?” 

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Article: Prepare now for a renewed focus on supply chain risk

Article: Green growth: finding opportunities in ESG

Article: The evolving ESG litigation landscape

Article: What does the CSRD mean for the UK?

CFOs and FDs tell us:

• "The adoption of AI in Finance has gained significant momentum. Is it really realistic for an organization like ours to adopt AI and machine learning yet?"
• "As our business continues to grow, we have come to realize that our heavy reliance on Excel to produce monthly reporting packs is both time-consuming and prone to errors. As spreadsheets and workbooks become increasingly inefficient, we find ourselves spending hours each month reconciling differences."
• "Our team has already seen the benefits of automating certain processes in terms of driving efficiency and freeing up time for more value-added activities. However, we are looking for additional ways to truly add value through automation. What strategies or tools can we leverage to achieve this?"

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Tool: Automate and custom your management reporting activities

Sign up for the 21 November CFO Forum: How to make change happen

CFOs and FDs tell us:

• “As a business that has numerous operating leases and reports under UK GAAP, we have been informed that new lease accounting regulations are set to take effect soon.  We are a little concerned about how much effort it will take to address this – and the impact it may have on our covenant calculations.” 
• “We have appointed a senior accounting officer (SAO), but we are unsure what we need to do to comply with HMRC tax obligations?” 
• “With the FRC’s latest review on non-financial reporting requirements, it feels like we need to look at our annual report again.  Finding the right balance between compliance and being digestible is a challenge!” 

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Article: IFRS S1 and IFRS S2

Article: New accounting rules could impact financial covenants for the mid-market

Article: The Smarter Regulation Non financial reporting Review