We are a Lancashire based business service helping manufacturers understand their true product costs. We specialise in providing external business support to manufacturers who are struggling to manage the multiple streams of data required to ensure robust cost accounting principles can be applied.
About usWe provide business consultancy to manufacturers on implementing cost accounting measures such as standard costing for example.
We can support ERP system data migration projects by providing data cleansing and data validation services.
We can provide software to support the capture of shop floor data capture in manufacturing environments for reporting on performance.
We work with businesses to develop bespoke business management reporting integrating data from multiple database systems.
UK Manufacturing Output (2022)
UK Manufacturing Employees (2022)
UK Inflation Rate % (Oct 2023)
BoE Interest Rate % (Aug 2023)
Since the fallout of Covid in 2020 and the knock on issues this has caused, along with other geo-political tensions around the world, UK based manufacturers are feeling the effects of continued inflationary pressure. This is largely due to significant rising materials costs and employee costs. As we enter 2024, the UK is caught in the midst of a severe cost of living crisis. Borrowing costs from banks also remain high following a sustained period of interest rate increases from the Bank of England. Therefore controlling manufacturing costs has never been more important given the current turbulent financial climate.
With our previous experience of working in engineering manufacturing businesses, we aim to provide professional technical support to businesses to implement comprehensive product costings and reporting frameworks. Due to the level of detail that sits behind manufacturing product costs, to implement this effectively often requires cross functional business support from a number of departments, not just finance. We believe we can overcome these barriers and enable cross-functional teams to provide the level of detail and co-operation which is needed to drive professional levels of cost management in SME manufacturing businesses.
One of the main reasons SMEs choose not to upgrade dated computer systems is due to the size of the task when dealing with vast amounts of system data.
We are experienced at generating complex management information reporting which is usually beyond the capability of most software systems we have worked with.
At Cost Accounting, we can provide a comprehensive range of finance and technical services to support your manufacturing business requirements.
We have several years of Finance experience gained from working in Cost Accounting role. Worked alongside several Management Accountants and reported directly to Finance Director. Extensive experience of standard costings, reporting on production efficiency, budget planning support, sales pricing and sales reporting. Cross functional role working closely with senior management team to support continuous improvement initiatives. Can also support definition of production operations, operation timings and work order definitions.
We can take a deep dive into the business data to understand current costs and also identify opportunities for cost reduction. One of the main challenges associated with production costs is being able to align the production reporting data with the reporting structure in the Financial accounts. This is an integral part of the planning process when implementing standard costing. As part of review process we will document report of findings and provide recommendations.
Many businesses have multiple computer systems managing all areas of business from Order Management, Inventory, Production, Quality, Logisitics and Finance. This can add a lot of inefficiency and result in duplication of work. We can perform a thorough systems review of data and identify potential opportunities for consolidation and automation to deliver cost savings and efficiency improvements.
One of the main challenges which faces businesses who are looking to move to a new computer system is the size of the task when managing large sets of data. In our experience business data which has built up over long periods of time can be very messy to work with and often requires a significant amount of effort to cleanse the data in readiness for migration to a new system. Luckily we have the technical skills to support your business with this complex process.
Manufacturing of complex engineered products often requires huge levels of resource and investment to support day to day operations. Therefore capturing operational data that provides up to the minute data accuracy of large production environments is a must have requirement. We can provide a fully integrated software solution which can be easily scaled to support manufacturing businesses of any size. With a comprehensive suite of reports available out of the box, this solution can be installed quickly with minimal user training. The hardware solution for running this software is also low cost and industry proven based on the Raspberry Pi Linux platform.
We have over 10 years experience of generating management information reporting to support all areas of manufacturing businesses including Sales, Purchasing, Production, Stock Control, Quality and Finance. Our USP is our technical ability to create truly bespoke reporting which can aggregate data from multiple systems and provide this in a custom accessible format to suit your individual business requirements. We can work with any combination of onsite, cloud and web based databases to create the reports you need when you need them.
We have a range of finance and technical skills to support your manufacturing business.
A few testimonials from manufacturing sector professionals that we have previously worked with.
I am pleased to be able to testify to the character and ability of Steven who I know in a professional capacity. Steve has played major roles in both Finance and IT Department’s whilst working in our Gledhill business. During his Finance reign, he was heavily involved in the Syspro ERP system supplying regular requests on Management reporting in PHP. This was a responsibility he retained following his migration into IT as Gledhill’s IT Manager, with responsibilities to oversee Gledhill’s IT systems and manufacturing system developments. Steve joined the Divisional IT team as a Business Intelligence specialist in July 2021 working on the Salesforce Service programme, responsible for the build of Gledhill’s Business Intelligence portfolio.
As Programme Manager Steve’s responsibilities included supporting myself and the senior management time in the development and implementation of a value adding strategy for growth, working closely with the senior team to provide the business and its stakeholders with a first class service. Using his technical IT skills, he also was responsible for the development and maintenance of technologies used within our business including, our ERP and CRM systems, and a number of internally developed management information applications providing real time reporting and key performance indicators. The many business wide improvement projects included initiatives in areas of strategy, operations, sales and marketing, people education and development, the introduction of new product processes and software solutions all driving sales growth, operational efficiencies and margin improvements.
I have worked with Steve for some time on a number of project and is a pleasure to work with. Steve has been a key member of staff implementing new manufacturing software into our manufacturing facility along with bespoke job costing analysis, custom report writing, project management and helping in developing the sales and marketing functions of the business.
Steven is a passionate hard working team player who gets things done - he develops good relationships with his colleagues at all levels, and is committed to getting the job completed on time & in full. Good fun to work with, & great to have on your team.
Steve is a very professional, knowledgeable and adaptable IT & systems specialist. He hold an excellent understanding of the interface between IT and business scope/ requirements/ design. I have worked directly with Steve on numerous projects over 4 years. He is comfortable with the responsibility for the delivery of complex bespoke technical solutions being delivered on time, to quality and below budget. He demonstrates real skill in breaking through the indecision and ambiguity of business requirements and possesses high emotional intelligence to lead a multi departmental team to project success.
I have known Steve professionally for several years and would wholeheartedly recommend him to any business looking to undertake any IT project in general. When working with Steve it is a comfort to know his attention to detail will guarantee an on time project delivery that exceeds expectations. Steve is extremely professional, has strong project management skills and is highly organised in his approach to solving technical challenges. In summary, technical projects don't succeed without careful planning and can be very complicated and daunting, with Steve at the helm, you can rest assured you’re in extremely competent hands.
For simplicity and transparency, we work with our clients to firstly define the scope of work required. We provide ALL clients with FREE initial consultation to discuss business requirements. Once requirements are understood we will then quote all work as quantity of days at a day rate of £795. Discounted day rate of £695 is available for jobs requiring more than 10 days of work. For businesses looking for longer term contract committment, we can offer contract retainer rate of £595. Once quote agreed and Purchase Order received, we will undertake all work with final payment on successful completion of works including sign off from client.
Thank you for visiting our website. If you would like any further information on any of the services that we offer, we would really like to hear from you.
Mellor Brook, Blackburn, Lancashire. BB2 7PU
info@costaccounting.co.uk
07929 035 157