Our recent survey of corporate finance professionals confirmed that the timeframe for completing deals in the OMB space is extending with due diligence taking longer and purchasers generally being more risk-averse during the sales process.
Whilst good businesses will always sell, this shift will inevitably mean that fees take longer to be raised and cashflow will take a hit.
Corporate finance teams may come under pressure to perform “more with less” and any efficiencies which they can find will be welcomed in 2024.
Here are some tasks which The Corporate Finance Network offers to its member firms to ensure they remain as effective, but without the high costs:
- Outsourcing early-stage or low value processes – Teams working in a general practice accountancy firm cannot be selective about which deals they accept, having to provide every client with the same quality of service. For the early stages of sell-side transactions or those with lower fee-earning potential, our firms outsource to our business sales service, saving the expensive chargeable staff for the quality end of the transactions.
- Ensuring higher quality pipeline – our resources and coaching for general practice teams means that your colleagues are able to have exit planning and strategic discussions with clients early, making sure the business is sellable or acquisition-ready by the time it is ready to work with the Corporate Finance teams in the firm. Therefore, clients are easier to sell and purchasers understand their target market ahead of starting the M&A process. The result is less time on the clock, lower write-offs and higher recoveries.
- Maintain your profile with relevant marketing content –Writing a steady trickle of news items, blogs and market insights takes time, and can usually only be undertaken by a senior member of the CF team. The CFN produces monthly and ad hoc publications, as well as regular market insights and blogs for our member firms, cutting down the admin time needed by high-level CF team members whose time could be better spent on progressing deals.
Working as a back-office support in partnership with our member firms means that the CF team can better spend their time and resources on higher value work.
If you would like to discuss building a membership plan for your firm, contact info@TheCFN.org.uk to arrange a call with the Chairman.
