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Manufacturing Industries
At BFG, we understand that manufacturing businesses are engaged in complex cycles: from purchasing of raw materials, processing of works-in-progress and finally to the delivery of finished goods. We understand that all of these stages requires complex financial balancing.
We understand that these intricate processes come with their own intricate financial problems. Through working with BFG you can trust us to keep track of your finances so that you can focus on the important thing: manufacturing. What may be a headache to you is 'business as usual' to us, plus working with BFG is generally more cost-effective (with you trying to juggle different responsibilities) and efficient since you get an entire specialized team for your money!
Our 'tailored' services for manufacturing companies include:
Costing and Inventory Management
- Product costing / Cost accounting: We help you to accurately classify costs so that they can easily be traced and tracked.
- Product and period cost reporting: This includes the tracking and allocation of labor, materials, manufacturing overheads as well as general administrative costs.
- Inventory Management: We'll help you keep tabs on your raw materials purchases, your works-in-progress and your delivery to the final customer. Furthermore, we'll fine-tune your inventory to take into account samples and customer returns.
- Budgets and Forecasts: We help you with budget and forecast reports to summarize your projected income and expense accounts for a specific period of time. This helps you to monitor and learn from your company's performance from one year to the next.
- Custom production systems (such as made-to-order products). We help streamline cost-tracking by customer or by job or both!
- Fixed Asset Management: It is vital that the timing of cost-recording of fixed assets is accurate so that there is proper matching with your revenue-generating capacity. Consequently, we can record fixed asset purchases, including the values of these assets over a period of time.
Sales tracking and analysis
- Product/category analyses: We conduct product and category level analyses so that you know which products or categories are most profitable to your business.
- Return on Investment analyses: We conduct sales analyses to measure your ROI on investments, for example, returns on your marketing efforts.
- Financial Reporting and Analysis: We will provide profit and loss statements, balance sheet and cash flow statements for timely checks of your company's performance. We will also walk you through financial ratios to give you a snapshot of how your company is doing.
Want to have one less thing to worry about? Get in touch with a team member now for a no obligation assessment of what BFG could do for you!