Update your subscriptions for Grant Thornton publications and events.
Services
Our progressive thinkers offer services to help create, protect and transform value today, so you have opportunity to thrive tomorrow.
-
Business Risk Services
Our Business Risk Services team deliver practical and pragmatic solutions that support clients in growing and protecting the inherent value of their businesses.
-
Corporate Finance and Deal Advisory
We offer a dedicated team of experienced individuals with a focus on successfully executing transactions for corporates and financial institutions. We offer an integrated approach, with our corporate finance specialists working seamlessly with tax and other specialists to ensure that every angle is covered.
-
Economic Advisory
Our all-island Economics Advisory team combines expertise in economics and business with a wealth of experience across the public and private sectors.
-
Forensic Accounting
We have a different way of doing business by delivering real insight through a combination of technical rigour, commercial experience and intuitive judgment. We take pride in delivering responsive and tailored solutions to all our clients, capitalising on the wealth of experience housed within our Belfast and wider Forensics team
-
People and Change Consulting
The Grant Thornton People & Change Consulting practice works with clients on these issues as well as on all aspects of how they attract, retain, engage develop, deploy and lead their people.
-
Restructuring
We work with a wide variety of clients and stakeholders such as high street banks, private equity funds, directors, government agencies and creditors to implement solutions which provide the best possible outcomes.
-
Technology Consulting
Motivating and assisting our clients to pursue, maintain and secure the benefits of digital solutions is at the core of our Digital Transformation teams' agenda and goals. We work with business leaders to deliver efficient digital strategies and operating models that provide new or enhanced capabilities.
Our audit services can strengthen your business and stakeholders' confidence. You'll receive professionally verified results and insights that help you grow.
Our tax services help you gain trust and stay ahead, enabling you to manage your tax transparently and ethically.
-
Corporate and International Tax
Northern Ireland businesses face further challenges as they operate in the only part of the UK that has a land border with a country offering a lower tax rate.
-
Employer Solutions
Our team specialises in remuneration and incentive planning and works closely with employers, shareholders and employees to ensure that business strategies are aligned and goals achieved in the most tax efficient, cost-effective manner.
-
Entrepreneur and Private Client Taxes
Our team of experienced advisors are on hand to guide you through any decision or transaction ranging from the establishment of new business ventures, to realising value on exit, to succession planning and providing for loved ones.
-
Global Mobility Services
Grant Thornton Ireland offer a different approach to managing global mobility. We have brought together specialists from our tax, global payroll, people and change and financial accounting teams across Ireland and Northern Ireland, while drawing on the knowledge and insights of our global network of over 143 offices of mobility professionals to provide you with a holistic approach to managing global mobility.
-
Outsourced Payroll
Our outsourced service provides valued service to over 150 separate PAYE schemes. These ranging from 1 to 1000 employees, working for micro, SME and global employers. The service is supported by the integrated network of tax and global mobility teams and the wider Grant Thornton network delivering a seamless service. Experienced staff deliver a personal service built around your business needs.
-
Tax Disputes and Investigations
Our Tax Disputes and Investigation team is made up of tax experts and former HMRC investigators who have years of experience in dealing with a variety of tax investigations. Our expertise and insight can guide you through all interactions, keeping your cost at a minimum while allowing you to continue with the day to day running of your business.
-
VAT and Indirect Taxes
At Grant Thornton (NI) LLP, our team helps Northern Ireland businesses manage their UK and global indirect tax risks which, as transactional taxes, can quickly become big liabilities.
Connect
Grant Thornton Ireland is rapidly approaching 3,000 people, in 9 offices across Ireland, Isle of Man, Gibraltar and Bermuda. With a presence in over 149...
Meet our people
Subscriptions
View our past webinars and register for upcoming events.
A strong finance function with access to real-time information has been a critical factor for businesses over the past two years as they faced many challenges because of the pandemic.
Contents
Subscribe to our mailing list
While the situation was out of their control, it highlighted the importance of being proactive rather than reactive, and businesses had to learn and adapt the way they worked by making changes and being innovative.
Now, in a post-pandemic world, the same principle applies. Businesses are now facing new challenges, particularly increasing costs. To ensure the growth and survival of a business, they need to have clear insight into how these rising costs will affect their bottom line in real-time, which will enable them to develop strategies to deal with this.
Moving away from manually analysing data and transitioning into using technology will play a crucial part in this. By using cloud-based and other similar software, businesses can tailor their reporting to support their needs and help with future strategic growth and decision-making. This allows businesses to access real-time information, which, in turn, will reduce the time taken to complete the month-end routine and enable better cash flow management.
In addition to using software, businesses need to understand and utilise the correlation between the finance department and other business functions. The finance department has insight into all other areas within the business. Finance managers must communicate and work alongside other departments to fully understand and report on key data. This will help businesses plan for the future.
To create a successful plan for the future, smart businesses combine the monthly reporting and financial information provided by the finance department with other methods of analysis. With the ever-changing external factors facing companies, businesses must review their strategy and goals.
One such method for utilising data is strategic analysis. Strategic analysis is the process of looking at the environments in which a business operates, which includes both internal and external factors. Strategic analysis is very beneficial and can help to achieve a business’ growth and goals.
Strategic analysis allows businesses to look at their strengths and weaknesses and factor in external influences out of their control. This has the benefit of letting them identify items that add value and increase competitive advantage, which, with the current economic climate, may help combat those rising prices.
In short, companies should continuously review their business and financial strategies so that they can act quickly and adapt to factors outside of their control. They need a strong finance team who can work with other departments and can produce and explain financial information for businesses to react to and combat changing conditions both internally and externally.
Authors
-
Neal Taylor Neal was appointed as audit partner in Grant Thornton in 2016. Prior to this he was an audit partner in a mid-tier practice for nine years, where he developed a broad client base.View Profile -
Louise Kelly Louise has over 14 years’ experience working on all sizes of public sector and privately owned companies. Her portfolio includes clients in various sectors including construction, education, motor retail, manufacturing and public sector.View Profile