We provide a service-led solution for Accountancy firms who want to take control of their data.
This results in:
– Improved business performance and understanding
– Confident decision-making from reliable data
– Turning your accounting company’s data into insights and actions
Why does the Accounting Industry need Data Analytics Consultancy?
- To make informed decisions from customer behaviour
- To forecast properly and keep track of trends
- To improve both performance and productivity
Benefits of Data Analytics for Accounting
Enhanced Decision-Making
Data analytics provides accountants with deeper insights into financial data, enabling more informed decision-making. By analysing trends, patterns, and anomalies in data, accountants can offer strategic advice to businesses, helping to optimize operations, reduce costs, and improve profitability.
Improved Financial Reporting
Data analytics tools can automate the collection, processing, and presentation of financial data, leading to faster and more accurate financial reporting. This automation reduces the time and effort required for manual data entry and analysis, minimizing errors and ensuring compliance with accounting standards and regulations.
Fraud Detection and Risk Management
Advanced analytics and machine learning algorithms can identify unusual transactions and patterns that may indicate fraudulent activity or financial risk. Early detection of fraud and risk enables organizations to take preventative measures, safeguarding assets and financial integrity.
Strategic Financial Planning
Data analytics enables accountants to perform predictive analysis, forecasting future trends and financial outcomes based on historical data. This insight supports strategic financial planning, budgeting, and forecasting, helping businesses to allocate resources more effectively and pursue growth opportunities.
Operational Efficiency
By streamlining and automating routine tasks, data analytics frees up accountants to focus on more strategic activities. This not only increases productivity but also allows firms to offer higher-value services, such as financial forecasting, strategic planning, and advisory services.
Why choose Select Distinct as your Data Expert?
- We’re service led, rather than product-led
- Registered Management Accounting practice
- We specialise in Database Management for businesses wanting to get the most from their management accounting and analytics
- We work directly with your employees to upskill your team
Our experience in Accountancy and Finance
Simon Harrison ACMA is a trained accountant
10 years at Sports Direct, starting as a finance manager. Promoted through to the senior management team as the Head of Operational Finance and Analytics. Working with board members to deliver strategic financial planning for Sales, Margins, Inventory cover. Responsible for the alignment of departmental budgets to the headline company budgets
Simon built a team of analysts, based upon a core skillset of either commercial finance or technical analytics. His role included the leadership of the team of analysts across the business, with representation within functional departments including Buying, Merchandising, E-Commerce, Marketing, and Finance. Fostering knowledge transfer and sharing of best practices.
The aim was to drive confident decision-making as widely as possible, by becoming a data-driven organisation.
Simon began his career at Wm Morrisons Supermarkets, starting as a student working part time and then pursuing a career in Finance. Simon spent 10 years in Senior Management heading up finance in a £300m food manufacturing subsidiary. With responsibilities for systems implementation of finance and ERP systems
Coming from a shop floor background Simon used his experience to enhance his effectiveness in leadership positions. Able to understand how changes to product and processes would flow through to the customer experience
Since moving into the consulting industry Simon has worked with a number of clients to discuss their financial data
Why choose Select Distinct as your Data Expert?
- We’re service led, rather than product-led
- Registered Management Accounting practice
- We specialise in Database Management for businesses wanting to get the most from their management accounting and analytics
- We work directly with your employees to upskill your team
