Through our financial performance management services, we help organizations manage their financial performance more effectively. It involves providing advice and guidance on various aspects of financial management, including financial analysis, budgeting and forecasting, cost management, financial modeling, performance metrics, and financial systems and processes.
A supply chain is a network of interconnected entities that work together to deliver goods or services to customers. It includes all the processes involved in sourcing raw materials, manufacturing, transporting, and distributing products.
In 2023, CFO are faced with a very complex, uncertain and a highly volatile business sphere to operate in. Currently, CFO’s are made to deal with the aftermath of the Covid-19 pandemic, the unending pressure to adopt ESG reporting, the need for digital transformation as well as post-election economic meltdown for the Kenyan based businesses.
Financial management not only involves the process but also having the right team to spearhead the functions of the department. 20% of the businesses barely survive beyond the first year and only 30% of the MSME’s will be able to celebrate their 10th birthday, this is according to Bureau of Labor statistics (https://www.bls.gov/)
For most businesses, unpaid bills/ open invoices have become a normal occurrence. Sadly, debtor management has become a nuisance for most businesses to an extent, most have decided close shop.
The Journal of Risk and Insurance has revealed that businesses with established Enterprise risk management procedures have a 25% chance of increasing their business value.
Enterprise Risk Management (ERM) standards are prescriptions that provide organizations a structure for controlling risks. Organizations may identify, evaluate, and manage risks that could have an impact on their operations, financial performance, and reputation.
This is a form of tax that is paid by an individual or non-individual tax payer that is not fully covered under PAYE and is remitted periodically. It is paid by a tax payer whose annual tax liability is estimated to exceed Kes. 40,000.
A statutory deduction is a mandatory deduction that an employer takes out of an employees’ salary. This is mandatory in Kenya, and as an employer you are required to remit the calculated amount to the relevant authority.
In an effort by the government to tame rogue entities, betting firms will now be required to make real-time remittances to KRA. This is after a pilot project to link the tax system with the betting sector was successfully implemented by KRA.