Reliable Financial Management Solutions
Are you a Wilmington, DE, company constantly trying to put out one fire after another? Are you often struggling with cash flow, lack sufficient financing options, or find that it’s almost impossible to make educated decisions or plans? More importantly, do you often find your business is in a cash crunch and struggles to make payments despite having consistent revenue? No matter which situation applies, you don’t have to continue going day-to-day, dealing with one disaster after another. That’s why so many Wilmington, DE, businesses rely on Doherty & Associates for all their financial management needs.
Risk Management And Opportunity Analysis
One of the more frustrating aspects of managing a business is not being able to capitalize on opportunities when they present themselves. Sometimes, companies aren’t even aware that these opportunities exist. Sometimes, they know they exist but are unable to move forward. Other times, they simply lack the financial clarity to take advantage of a given situation.
All this uncertainty stalls growth. It leads to stagnant revenue or declining revenue as competitors reap the rewards of a growing market. Whether it’s uncertainty about cash flow, a lack of clear insight into future revenue, the inability to justify capital expenditures, or simply not knowing who and when to hire, a lack of financial clarity is debilitating.
Opportunity Analysis
Oftentimes, you’ll hear a Wilmington company say, “If only we knew,” or “we had no idea”. This often comes from an inability to properly forecast revenue, expenses, and cash flow. Instead of having a forward-thinking financial management process, they get stuck in time, unable to capitalize. At Doherty & Associates, we help clarify the opportunity in front of you and help you with clear financials that make a go/no-go decision that much easier. While we are CPAs and tax accountants, we are ultimately business consultants with over 70 years of direct experience helping companies grow and secure their futures.
To successfully identify and capitalize on opportunities requires clear, definitive data about your company’s financial performance. Whether that opportunity is expansion, hiring new employees, expanding services, or pursuing capital expenditures, having a clear understanding of your finances makes capitalizing on these decisions much clearer. We help make opportunities happen by providing clear revenue and sales forecasts. We provide cash flow projections that give you invaluable insight into future cash positions. We help lower financing costs and use financial key performance indicators (KPIs) and metrics to keep your business on track. It’s one part knowing how to identify an opportunity and another part having the information and financial management strategy to make good, sound decisions:
- Revenue Forecasts
- Sales Forecasts
- Budgeting
- Cash Flow Projections
- Comprehensive Financial Management
Risk Management
Any successful financial management approach must have room for risk management and contingency planning. This means having a ready-made solution if a given situation occurs. It means having a financial management plan that allows your business to ride out the storm.
As business consultants and CPAs, we make it our job to clearly define the potential risks facing your Wilmington company. Whether those risks are inherent within the market, come from external market sources, are acts of God, or from competitors, we help you create a future-proof plan and steps to take should things go awry.
At Doherty & Associates, we are the ultimate solution for helping Wilmington companies make better, more educated, and more informed decisions about their futures. We’re the must-have tax accountant in Newark for construction companies who struggle with cash flow due to their customers having 90-to 120-day terms. We’re the outsourced accounting solution for retailers, manufacturers, non-profits, distributors, healthcare providers, and service businesses.
As a financial management firm with an established footprint in Wilmington and one that has worked with multiple different businesses, you’ll have a contingency plan customized to the challenges and potential threats your business faces. So, what’s included in a risk management plan?
- Operational Threats: We make sure you have a solution to account for any supply chain disruptions, issues with existing equipment and machinery, or labor and resource shortages.
- Financial Threats: From having alternative financing options to account for a sudden increase in interest rates to having a plan to deal with declining revenue and sales, you’ll never be caught off guard.
- Compliance Threats: Whether it’s having a plan for non-compliance to industry-specific guidelines, codes, and regulations, or having a solution for tax compliance, we’ll identify the threats your business faces and create an actionable plan.
- Risk Mitigation: We help you identify the actions and decisions that increase your risk. Our financial management team and business consultants will identify the decisions and approaches that should be avoided and why.
Payroll And Financial Management Services
We provide critical payroll services in Wilmington for companies that want a financial management firm to finally put an end to improper employee tax withholdings. Ultimately, we’re whatever financial management solution our Wilmington customers need. From improving cash flow and reducing financing costs to future-proofing budgets, revenue forecasts, and risk management, and creating crisp, clear balance sheets, income statements, and cash flow statements that clearly define our customers’ financial performance, we’re everything you need to take charge of your company’s future.
If you’ve been thinking about having a team of CPAs, experienced business consultants, and tax accountants help your business with financial consulting, budgeting, revenue forecasting, cash flow projection, expense control, and financial planning, then we’re the solution you’re looking for.
Helping You Make Informed Financial Decisions
Whether your Wilmington business has been operating for decades or you’re a new startup, our financial management services will help you make sense of the opportunities in front of you. We’re focused on clarifying your company’s financial performance, making sense of the financial data available to you, and helping you stay well aware of the risks facing your business.
From helping you identify and close on opportunities to helping you have a solution for the worst-case scenario, our financial management services do it all. If you are a Wilmington business that needs a financial management firm to provide greater expense control, stronger financial planning, and better financial data, contact us today!
What Is The Role Of Financial Management In Risk Management?
- Financial management identifies and assesses financial risks that could impact a business’s stability and growth.
- It develops strategies like diversification, insurance, and contingency planning to mitigate potential losses.
- Proper budgeting and cash flow management ensure the business can withstand unexpected financial shocks.
- Ongoing monitoring and analysis help adjust risk management tactics as market conditions and business needs evolve.