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Northern Powerhouse European Union

Manufacturing Champions: Transitioning to the World of Digital Accounting - Postponed

Date: 2nd April 2020
Location: Keating Supercars Ltd at National Centre For Motorsport Engineering, BL3 5AG
Time: 8:00am - 1:00pm
Theme: Operational efficiency, Access to finance, Business Strategy

DUE TO COVID19 THIS EVENT HAS NOW BEEN POSTPONED - If you are interested in getting notified once a rescheduled date has been set, please contact the Manufacturing Team at: bghmanufacturing@growthco.uk

To access the latest government advice as well as resources for your contingency planning in response to the Coronavirus outbreak, please see the link:
www.businessgrowthhub.com/coronavirus  

 

 

Hosted by:



Industry 4.0 is transforming the way we do business, with a large number of companies across different sectors already digitalising their operations. Amongst the industries impacted is the accounting and finance sector.

Earlier in 2019, the government introduced the Making Tax Digital (MTD) initiative opting to streamline and digitise the accounting process, requiring businesses to maintain digital records and use compatible MTD software which allows them to submit VAT returns.

In addition to the regulation, manufacturing businesses who have already embraced or are looking into introducing digital technologies, will also want to further digitalise their accounting to have their financial records reflect and respond to the almost real time data being produced on the shop floor. This will enhance manufacturers’ strategic decision making by providing increased speed and accuracy of information.

For manufacturing leaders to fully take advantage of the benefits of digital accounting and align their financial data with their operational data, it will be imperative to be able to understand the figures and translate what they mean for their business at any given time.

This session will provide manufacturers with an understanding of:

  • Digital accounting and its tools – How can you benefit?
  • The importance of accounts
  • The main Key Performance Indicators (KPIs), what they mean for your business and how they relate to your accounts
  • The types of insight that external bodies such as Banks look for in accounts and how they would interpret the information
  • Working Capital Management practices among UK manufacturing companies and industry best practice

The Manufacturing Champions will then talk about their experiences of strategic business planning following assessment and interpretation of KPIs within their business. They will also share the financial insights that they look for in their suppliers’ businesses during procurement.

The event will also feature a workshop during which delegates will work in groups on an example of set accounts to extract key information, understand its importance and how it could be interpreted.

The session will close with a tour of the host facility.

Speakers

Leanne Holmes

Site Managing Director & Operations Director, Crane Payment Innovations

Dr Paul Hunt CSi CChem

R&D Director, Victrex plc

 

Matthew Smallman

Divisional Managing Director (Joint), Hyde Aero Products Ltd

Graham Wardlow

Managing Director, Luxfer MEL Technologies

Columb O'Shea

Access to Finance Specialist, GC Business Growth Hub

 

Sarka Jeremic

Sector Manager, Zirconium Oxides, Luxfer MEL Technologies

Event Image Gallery


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Event booking notice

Places at this event are extremely limited, and are restricted to one delegate per company. Non-manufacturers will not be permitted to attend.

Please note:

Our workshops are part-funded by European Regional Development Funds.

Our workshops are delivered free of charge to participants; however, as they are fully-funded, they are classed as state aid to participating businesses and are subject to state aid rules and the associated eligibility criteria.

Eligibility Criteria:

  • Location: GM manufacturing clients
  • SME: Small or medium enterprise i.e. less than 250 (Full Time Equivalent) employees and annual turnover less than 50 Million Euro OR Balance Sheet less than 43 million Euro 
  • Sector Restrictions may also apply

 

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