Bank feeds are what make working with Elevate Profit so easy. Bank Feeds are a way to provide us with access to all your banking information without actually having to provide us with your bank details. It makes everyone’s lives easier!
We only need to set you up once with a Bank Feed via our accounting software and we will be receiving all the information we need. It allows you to focus on the day-to-day while you can be confident all your financial analysis is occurring in the background.
But why is financial analysis so important? It gives you tons of information that means that you are no longer relying on your gut feel and end-of-day figures. It means you have a true birds eye view of your business and how it’s performing. It means you know what elements of your business are profitable and what elements aren’t and it also means you can make better decisions for the future success of your business.
Clearly, it’s important. But if you have a quick search online, you will likely be thinking one thing “this looks like way too much work”. That’s because any online resource is often written by financially fluent companies and individuals. They tell you that you need to read a tonne of documents: an income statement to understand things like ‘gross profit’ or ‘revenue growth’ or ‘operating profit margin’; a balance sheet to tell you the difference between your ‘assets’ and ‘liabilities’ or ‘liquidity ratios’; or, a cash-flow statement to give you things like ‘Inventory turnover’ or ‘Asset Turnover’. None of these are bad things, they are all handy to know. Knowing all these things will no doubt help you make good decisions. But is all the extra leg-work on top of your already busy schedule going to sit well? Sure, if you are a multi-multi-million pound company, then you will need to know these things. With outside investors handing over their money, they need to see very specific things from financial analysis to make sure their investments are producing results. But for 99% of companies in the world, this is overkill of the highest order. You simply don’t need to spend the time that these experts are saying you need to.
The Elevate Profit Method is a new, better way to go about your financial analysis. It’s simple, effective and the best part? It requires no extra legwork from you. It’s all done for you in the background.
We can get you started with the EPM today. It’s quick and easy and you can start seeing dramatic changes from the very first month. We only need to know a few details about you and your company to get you started very quickly; just fill out the form below and we can get you as much information as you need and get you running a more profitable company within your first month!
Part 3: The Banking Budget Sheet
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