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View the full version of this case study here.
Overview
FM4U Managing Director Louise Common first found out about Stryde at a finance workshop ran by Kieran James (Stryde CEO) in 2019.After completing on a management buyout and spending time to understand how to run the business as it's new owner, Louise wanted to spend more time focused on driving growth, but she was struggling to have clarity in her finances and trust the data she was seeing. Since working with Stryde, Louise has been given the financial clarity she first saught, gaining a deeper understanding of her financial reports whilst still having time to focus on growth.
The Challenge Faced by FM4U
When first taking over the business, Louise struggled with delegating tasks to others within the team while retaining control and a level of user access/ restricted visibility. She knew in order to spend more time focusing on business growth she would have to remover herself from day to day financial processing, but didn’t know how. Louise wanted an accountant that could not only support her business, but offer expert knowledge and advice that will contribute to the business growth, working with her to achieve identified goals. After finding Stryde, we streamlined her overall finance function acting as an outsourced finance director, allowing Louise to successfully remove herself from day to day operations.
"At the time I already had an accountant set up, and then we found out after working a year with them that it wasn't quite right for me, I needed someone to listen to me and help me out."
Why FM4U Chose Stryde
Louise attended a workshop ran by Stryde CEO, Kieran James, which she found very valuable. Following the workshop, she expressed a need for financial clarity in her business and signed up to Stryde’s Business Pulse Service. By identifying weak areas in the business, offering solutions and explaining the impact of said solutions in the form of a detailed digital report, Stryde provided FM4U with the first steps they needed to take in order to gain financial clarity. After being impressed with with the business pulse report, Louise decided to move all her accounting requirements to Stryde including financial controller and finance director services.
The Results
FM4U were already a successful 7 figure business, but now 3 years into working with Stryde and revenue growth has exceeded 20% every year, Louise praised Stryde for the advice that was given, which has greatly increased productivity among staff, saving an estimated 336 hours annually across the team. FM4U have also seen improvements in areas such as cash flow management, software usage, and Louise has been able to use the time saved on day to day activities to work on the business rather than in it. She also noted that by using our services she has not had to bring on an in house Finance Director, saving her approximately £48,000 annually based on the local rates, in addition to relieving the employment burden that comes with hiring a new employee.
"The service I've received from you guys has been the most impressive, you've not only been giving me the correct information, but if I've made a mistake you are quick to correct it"
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