Ten questions across four areas. In under five minutes, find out where your finance function stands, and what to prioritise before you scale, raise, or exit.
Built from the questions EC Solution works through during every new client engagement. There are no wrong answers, and the results are honest about where the gaps tend to sit. The output maps to the service most likely to have the most impact for where you are right now.
Question 1 of 10Foundations
Category 01 · Foundations
How would you describe your current management accounts?
Think about what lands on your desk each month and how much confidence you have in it.
AWe do not produce management accounts consistently, or at all
BWe produce them but they are often late, incomplete, or hard to interpret
CWe have monthly accounts but they are mainly historic and we do not use them actively
DWe produce timely management accounts and use them to make decisions
Category 01 · Foundations
How far ahead does your cashflow forecast look?
Be honest about what you have built and actually use, rather than what exists in theory.
AWe do not have a cashflow forecast
BWe look ahead a few weeks, usually when cash gets tight
CWe have a rolling 3-month forecast that we update occasionally
DWe maintain a 12-month rolling forecast reviewed at least monthly
Category 02 · Visibility
How clearly can you see your gross margin by product, service line, or customer?
Margin visibility is one of the most common gaps EC Solution finds in early-stage businesses.
AWe do not track gross margin at a line level
BWe have a rough sense but nothing that is structured or reliable
CWe can see margin by product or service but not by customer
DWe have clear margin visibility across products, services, and key customers
Category 02 · Visibility
If a board member or investor asked for your key financial metrics today, how would you respond?
Think about how long it would take and how confident you would be in the numbers.
AIt would take days and we would not be confident in the output
BWe could pull something together but it would be a scramble
CWe have most of the numbers but they live in different places
DWe have a dashboard or board pack that covers this and could share it today
Category 02 · Visibility
How do you track performance against budget or plan?
This is about whether variance analysis is a regular discipline or an occasional exercise.
AWe do not have a budget to track against
BWe have a budget but rarely review it formally
CWe do a budget versus actual review but it is not structured or acted on
DWe run monthly variance analysis with commentary and follow-up actions
Category 03 · Controls
How would you describe your financial controls and approval processes?
Controls matter most when the business is growing quickly or when external scrutiny arrives.
AMostly informal. The founder or director signs off most things personally
BSome processes in place but they are inconsistently followed
CWe have documented controls for the main areas but gaps elsewhere
DWe have a documented, regularly reviewed controls framework with clear delegated authority
Category 03 · Controls
How is your finance function resourced right now?
This is about whether the capability in the business matches the demands being placed on it.
AFinance sits with the founder or a non-finance person. There is no dedicated resource
BWe have a bookkeeper or part-time accountant but they are stretched
CWe have a Finance Manager or Financial Controller but no strategic finance lead
DWe have both transactional and strategic finance covered, either in-house or fractional
Category 04 · Readiness
If you were approached by a PE firm or acquirer today, how ready would your financials be?
Due diligence moves fast. The businesses that survive it well have been preparing quietly for years.
AWe would not be ready at all. It would take months to get financials in order
BWe have statutory accounts but the management information is not deal-ready
CWe could put together a data room in a few weeks with some effort
DWe maintain clean, audit-ready financials and could open a data room within days
Category 04 · Readiness
What is your relationship with your bank, investors, or key financial stakeholders?
Proactive relationships with lenders and investors are a sign of financial maturity.
AReactive. We contact the bank when we need something and rarely think about it otherwise
BWe have a relationship but it is not structured and we do not report proactively
CWe have regular contact with our bank and provide periodic updates
DWe proactively manage all financial stakeholder relationships with structured reporting
Category 04 · Readiness
What is your biggest finance challenge right now?
Be honest. This shapes the recommendations you receive.
AGetting the basics right: accounts, cashflow, and reliable numbers
BGetting proper visibility on how the business is actually performing
CBuilding a finance function that can scale as the business grows
DGetting ready for a raise, an acquisition, or a potential exit
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Recommended next steps
Based on where your scores sit, these are the areas where focused effort will have the most impact.