Service Industry

Service

Service industries provide intangible goods and services, and cover a wide range of business categories, such as healthcare, customer service, insurance, entertainment, hospitality, transportation, and information technology. The service industry is the third largest sector of the economy, after raw materials production and manufacturing. Because of its variety of businesses and services, flexibility and customization are key attributes required when providing accounting and business consulting services to this industry, and The Shealy Group has a wide range of experience working with these types of service providers. We specialize in providing the following support to the service industry:

  • Strategic planning
  • Financial planning and budgeting
  • Performance plans/Key Performance Indicator (KPI) development
  • Current process improvements (revenue cycle, workflow, etc.)
  • Preparation of financial information when applying for loans
  • Establishment and/or improvement of internal controls
  • Account receivable/payable analysis

Are you uncertain whether you need a consultant to assist with your financial needs? Answering the following questions may help you decide:

  1. Have you identified your short-term and long-term goals and how you will achieve them?
  2. Do you know and/or monitor the internal metrics or your organization to make it successful?
  3. Do you understand your balance sheet and cash flow statement?
  4. Are all your internal processes documented?
  5. Are you able to answer your lender’s questions when it is time to renew your operating line?
  6. Do you know your receivables and payables turn?

 

If you would like assistance answering any of the above questions, or if you would like to learn more about modernizing your business practices, The Shealy Group can help. Contact us today by phone or by using the online form on our Contact page. We’re happy to discuss our services in greater detail and schedule a free consultation with one of our experts.