The winners in the digital economy are those companies that can rapidly gain insights into their performance and take appropriate action. To achieve this, entrepreneurial companies need a solid data and analytics foundation, together with access to a business intelligence (BI) platform. This can represent a significant financial and time investment to underpin medium to long term growth against the competing demand of making an immediate investment in sales to maintain the existing revenue momentum of the business.

Our role is to extend the entrepreneur's competitive advantage and provide decision makers with real insights into the relevant aspects of their business, without the need for technical knowledge of BI tooling and technology. We believe our role complements the instinctual decision-making of the entrepreneur with data driven insights to connect and overcome their disparate data sources.

Entrepreneur owners with a finance controller led finance function will empathise with the challenges of siloed data as different parts of the business work through spreadsheets, coupled with a lack of depth in analytic capability within the broader finance team. The consequence of this, is that perfomance insights are often stale by the time they reach the decision maker. This is further compounded by the common problem of basic month-end reporting taking too long and business performance being discussed too far in arrears. This pattern reinforces the need for the entrepreneur to rely on their gut instinct, and ultimately this cycle will distract from the creation of shareholder value. This pattern can undermine optimal value of a business upon sale, on the basis that the business continues to be overly reliant on the entrepreneur.

Envy Advisory's analytics service can assist to connect disparate data and enable improved finance function business partnering. The service reduces timeframes of data construction for the finance team - a function that is likely lacking capacity. Our role empowers the finance controller so that the finance function can offer the entrepreneur relevant support and overcome the sub optimal decision making that is likely rampant due to challenges with data and reliance on instinct.

Benefits we achieve are:

• Increased confidence for the business owner
• A monthly analysis based on transactional information and connected data
• Increased time for the finance controller to focus on key patterns or actions to understand performance
• Increased capacity for the finance controller to drive their function forward as a business partner within the organisation
• New revenue opportunities which were previously unattainable through data driven decisions

We offer an alternative that is more cost effective than the average fully burdened salary of one newly qualified business accountant whilst giving entrepreneurs and the finance controller a high degree of flexibility.

In summary, Envy Advisory's analytic service will connect your data no matter where it resides, in the cloud, on-premises or in files. We will enable the finance team to prepare timely analysis through one complete data set and most importantly provide visual data solutions in the context of driving value add thinking.

We believe entrepreneurs should have a cost-effective way for their business to collaborate around their data to take informed action faster and to help increase shareholder value.

Modern day financial controllers are required to go beyond reporting and compliance.

Increasingly, companies are looking for them to interpret an uncertain future, and to help bridge the gap between historical data and insights to keep the company ahead of the game.

Many financial controller led finance functions put significant effort into their monthly reporting packs but lament the lack of impact those reports have on decision making. This frustration has been reinforced by research done by Gartner showing that many senior decision makers do not even read these reports, and when they do, they will misinterpret the information or cherry-pick the data that supports their intuition.

Although most finance teams would agree that business user friendly reports are essential and much needed, they struggle to successfully create them. Today, operational managers look to the controller as a business partner, someone who can not only bring hard data to the table, but also someone who can bring a different perspective on challenges and opportunities facing the business. How does the finance controller as a leader of the finance function spending most of their energy controlling and constructing make an analytical impact?

Unfortunately, many finance teams are still doing planning and analysis the same way, using complex spreadsheet models, labour intensive processes and significant data integrity challenges. Too much time is wasted maintaining spreadsheets as opposed to analysing data and providing business insight. A finance team that is currently spending 60% to 80% of its time constructing the financial package to the business 3 to 5 weeks after month end is commonly accepted albeit frustratingly by SME business owners.

To make smarter decisions, finance teams need to find ways to make data richer and more relevant for their business leaders. Harnessing analytics without having to navigate the myriad of new technologies and take the leap of faith of the cost burden of adoption is key to lift off. Envy Advisory can assist you without taking on dedicated staff and new technology commitments (even if it is in the cloud and SAAS). We will provide your finance function:

• Faster access to analysis
• Data integrity - one version of the truth
• Create meaningful data insights across the organisation – remove business silos
• Agile planning for better decisions
• Streamlined processes through technology - removal of labour-intensive process

Better analytics can transition your SME finance team from a transaction-based function to one with business transformational capability. Cost effectively empower your financial controller and finance team to add genuine value to the organisation.

Get your corporate finance advisors to share the outputs of the various due diligence and assessments conducted and collaborate amongst the different specialists involved so that they can holistically opine on the risks and opportunities of the proposed transaction with your end objective in mind. Make sure to negotiate this openness in your letters of engagement to avoid limitations and to get the most of connecting the valued advice you are paying for and to avoid each specialist to work in a silo.

To make the most of collaboration it is important to know what is fundamentally driving your decision to do the transaction and your view on value. After which you and your advisors can identify the key risks associated with that decision and view. This will drive both the type and the scope of due diligence required on a potential acquisition. What should I be aware of before starting due diligence on a potential acquisition and what assistance will I need?

Due diligence is not a 'one size fits all' service and working with a good advisor will provide you the opportunity to ensure you do not miss any critical areas.

The majority of transaction failures are due to flawed acquisition strategies, poorly executed transactions or incomplete integration. Due diligence allows you to understand the business and the deal before investing to minimize the risk that will erode value. It gives you increased comfort through an independent expert's assessment of the risks and opportunities of the proposed transaction.

Due diligence allows you to understand the key fundamentals that underpin the transaction and the target business. These are, for instance:

• business model and processes
• key business drivers
• trends – internal and external
• financials – cash versus profits
• potential synergies and sensitivities
• deal motivation, deal experience and appropriate capital structure

Before starting due diligence it is important that you have an awareness of what good due diligence is so you get value for money. Ensure coherent communication to the due diligence specialist of the objectives for the target and fit into the existing business.

With this in mind, the output of good due diligence work; the due diligence report should have:

• a complete executive summary
• commercial focus
• brevity on the main issues
• highlight the main drivers
• opinions
• key messages
• practical effects
• views for integration
• clear and honest recommendations

It is important to remember that due diligence is not an audit but is a specialist service delivered by transactional experts. The NorthWest advisory community is second to none. In determining what assistance you need to source in exotic locations like London. The key requirement is to ensure the use of commercial awareness combined with financial analysis.

Remember seek to share the outputs of the various due diligence conducted amongst the different specialists involved and engage them to holistically opine on the risks and opportunities of the proposed transaction with your end objective in mind.

How to get out? Here are some tactics to mull over:

Keeping it for family

Transferring business ownership to a 3rd party successor takes considerable planning, from an operational and legal perspective. Make sure that you have a solid succession plan in place if you opt to turn the family business over to your heirs. Consider use of internal leverage mechanisms commonly used by private equity if you want to position value for the benefit of different family stakeholders. Private equity even as a minority investor could add tremendous value to the next generation. In particular could they help to mitigate the loss of "founding shareholder drive and entrepreneurial risk taking"

Sell the business in a formal process

Preparation, Positioning, Seduction and Execution are tools of this tactic in achieving premium values for thriving businesses. Buyers will wish to snap up your business for its client base and/or brand; will wish to take competing businesses out of the market; wish to enter into an aligned and/or new market and/or new geography; because they see some synergy with your business and theirs.

Above also applies to a private equity buyer. Additionally, PE could help to de-risk decision-making and allow the business to remain independent and thrive.

In the decision making process for appointing your advisor get comfortable about what they will specifically contribute and understand their buy-side revenue streams.

Sell off-market to a friendly buyer

Before advertising a business for sale, put the word out – chances are parties interested in acquiring your business include those in your own network, like customers and employees, family members and even your investment community relationships. Those who've had some sort of connection with your business in the past are more likely to deliver on the deal. Preparation, Positioning and Seduction are key and working with an advisor is critical for value preservation and creation due to lack of competitive tension.

Go public and float on the stock exchange

Transforming from a private company to a public company is the method by which many an entrepreneur has made millions. Be ready for working in the limelight and with short term goals and expectations management as a priority. Not an absolute truth but many might say – Is this one is for the big boys!?

Liquidate the business

None of the above of interest then you still have an option. Usually you are here despite a thriving business because you don't wish your business to get in the hands of your competitors, go public or even hand it over to a family member? So wind up your business – close it down for good and sell your assets. This strategy works well for those who have high-value assets, such as land or equipment. Remember, though, that all debts will have to be paid off, first, before you get those spoils. Interesting approach that can work particularly if the parts can be positioned such that the sum of the parts is greater than the whole.