Five ways businesses can improve financial performance
In the fast-paced world of business, standing still is not an option. Businesses must continuously refine operations and finances to stay ahead of the curve. Financial agility and operational insight are essential for sustainable growth.
Here, we explore five ways businesses can enhance performance, improve margins, and unlock their next stage of growth.
1. Adopt forward-looking financial insights
Instead of relying on historical financial reports, embrace forward-looking metrics and tools that provide real-time insight into where your business is headed.
- Forecasting and budgeting tools help you anticipate revenue trends and cash needs.
- Use rolling cash flow forecasts to maintain financial agility and avoid liquidity surprises.
- Track leading indicators like sales pipeline volume, churn rate, and customer acquisition cost (CAC) to make proactive, strategic decisions.
Companies that monitor forward indicators are better positioned to seize growth opportunities and mitigate risks early
2. Maximise tax reliefs
Maximising tax reliefs, for example, research & development (R&D) tax credits and capital allowances, can unlock substantial cash injections or reduce your tax bill, boosting cash flow and funding future growth plans.
As an example, if you're investing in innovation, you could be eligible for R&D tax credits - yet many firms don’t claim the full amount they’re entitled to. We would advise working with an experienced tax adviser to proactively plan so you’re gaining reliefs you’re entitled to that help your business for the long term.
3. Leverage cloud tools for real-time financial visibility
Modern finance isn’t just about bookkeeping - it's about empowering decision-makers with instant, real-time and accurate financial data.
- Platforms like Xero and Dext can automate data entry, reconcile transactions, and provide dashboards at a glance.
- Integrating your finance stack ensures cleaner data, faster reporting cycles, and fewer manual errors.
Better visibility leads to smarter, faster and more informed decisions - especially when scaling or adapting in a volatile market.
4. Conduct regular cost reviews
In businesses, costs often accumulate. It’s important that you:
- Review recurring costs quarterly or bi-annually.
- Eliminate underused products or services or negotiate better rates.
- Reassess pricing regularly.
Proactively managing costs protects margins and can free up resources for growth - without cutting headcount or compromising product/service development.
5. Work with your accountant as a strategic partner and trusted business adviser
Your accountant shouldn’t just file tax returns and produce end-of-year reports - they should be a core part of your leadership toolkit.
A proactive accountant can:
- Spot cash flow gaps or pricing inefficiencies
- Help model different growth scenarios
- Benchmark performance against competitors
- Identify funding or grant opportunities
Partnering with an accountant who understands your business landscape can help translate financial data into actionable business insights - giving you a clear edge over competitors.
We’re here to help
We help ambitious businesses turn their numbers into strategic assets – helping founders grow with more clarity and control. If you’re looking to strengthen your financial position or make sure you’re doing everything you can be doing to improve your financial and business performance, our Advisory team is here to support you. Get in touch via the form below.
Download our practical guide
For insights on protecting, growing and futureproofing your business, download our Business Resilience Toolkit.
