| Ref | LGH206 Do |
|---|---|
| Expression of Interest closing date | 20180322 |
Request for Quotation – Business & Financial Planning, interim Financial Management – Liverpool
Please click here to view full RFQ Document
Background
Logic Electrical Contractors and Consultants Limited has been established since 2009 and provide electrical services through both their staff and sub-contractors to major construction projects in both Merseyside and across the UK. The company’s focus is on a high quality service in what is a competitive sector.
Alongside the management is a strong team of electrical engineers who undertake the work alongside proven and reliable sub-contract workers. All staff are fully qualified in their respective fields which is crucial in a highly regulated sector for H&S, compliance etc.
Logic has continued to expand each year, as reflected in the financial performance, through the reinvestment of profits alongside support from their high street bank through an overdraft facility.
Requirement
Logic is currently looking at the following areas of the business:
• A number of expansion opportunities continue to present themselves as the reputation and quality of work undertaken by Logic becomes well known. In addition the team are highly skilled in delivering high quality service at a very competitive price. However, as Logic deal with major plc’s and construction companies, the payment terms for debtors can often differ considerably and also be far longer than those received by Logic from creditors. The directors need to assess various growth scenarios, which incorporate different payment terms, construction project sizes, completion date, gross margins etc. to assess the most suitable growth options. From this the management team will then be in a positon to assess the most suitable option and seek the necessary funding.
• Sensitivity analysis to explore the critical point of profitability by modelling various scenarios.
• Assistance with highlighting the available funding options, suitability of each, pricing, securities etc and then to approach each funder and present the plans to them and secure the required amounts on the best possible terms.
• The company has strong systems in place for tendering and bidding for projects and then to oversee the progress of these through the construction timeline. However, the growth of Logic has not been reflected in an expanding financial team and at present the company does not have the necessary expertise and knowledge in place to embark on another growth period. We require interim financial management to assist us through this growth period whilst the team is expanded, gains experience and the necessary reporting systems and team structure are put in place.
• In conjunction with the above financial management support, Logic also requires assistance in developing quality management systems across the whole company. Whilst it is acknowledged that the sales and marketing and also operations departments are in place, they will need to work alongside and complement the financial systems once developed and as a result the overall reporting systems for Logic needs to be developed and improved.
The directors require assistance in all the areas set out above with the role requiring an individual who can work with both the internal finance team whilst also working with the heads of each department within Logic.
As part of the services required, Logic expect to also require assistance with;
• Production of a detailed business plan and financial projections to assist with raising finance and to ascertain the exact timing and amount of the funding required.
• Assistance in implementing financial control systems to ensure the growing business is as efficient as possible from the outset and that all performance is accurately monitored and compared to budgets.
• Sensitivity analysis to assess the various growth options and also highlight critical trading points for the firm.
• Creation of a financial and operational report which the firms internal accounting team can use for performance monitoring purposes in the future.
The management team need support in all areas of finance with particular expertise in the construction sector who also has a wide range of contacts across all funding options.
Deliverable Timescale Start date 1st April 2018, completing by 31st May 2018 to 15th June 2018 (depending on availability)
Indicative Budget £20,000 net of VAT
Evaluation Criteria – Please click here to view full RFQ Document
Scoring Methodology – Please click here to view full RFQ Document
Proposal Format
Proposals should clearly demonstrate how they meet the requirement set out above.
Deadline and Submission
Proposals are required by 22nd March 2018 either electronically or by post/in person to Peter Donaldson, Unit 6 Hurricane Court Hurricane Drive, The Estuary Liverpool International Business Park, Liverpool, L24 8RL, or to peterdonaldson@logic-electrical.co.uk. Date Published 8 th March 2018
This work is part funded though the European Regional Development Fund
