Among other achievements, Barking Finance developed a cash-flow model for a client to use to manage a very difficult period, ensuring the client stayed within banking covenants. The client later stated that having this system in place, that they could use on a daily basis to manage the cash-flow of the business, meant the difference between staying solvent and going into administration. We took a £2m turnover client from manual accounting systems to a fully computerised system with the necessary controls and procedures in place for invoicing, cash collection, supplier payments and on-time management information. Having this in place has allowed its Director to focus on growing the business, knowing there is a back office system in place that can easily cope with the expansion and stay in control. Barking Finance detailed an activity-based costing analysis of a clients' haulage business to determine the contribution by individual customers and haulage runs/loads and identify non-contributing runs/loads. We developed a spread-sheet to support the management of the fleet, ensuring dates for six week checks, MOTs, VDU downloads and tacho calibration were immediately visible. We implemented a traffic light system to ensure the required work could be booked in to meet all VOSA requirements.
