What success looks like
with SMG

UNION X

SMG run all finances remotely, with site visits when needed.

Delivered:

  • Clean audit: Caught up postings after the exit of the finance Manager and incorrect postings by the Finance Coordinator.

  • Regular, accurate Management Accounts (First in 3 years)

  • Introduced virtual cards, diarised payment runs, digitalised procedures.

  • Cashflow forecasting and reporting.

  • Regular, informative Board reporting.

  • Administration of finance inbox, expenses and purchase processing.

  • Year end Forecasting.

PROOF IN THE NUMBERS:

The last staff structure that delivered Management Accounts at Union X was as at a cost of £82k/ year.

SMG / CC deliver a proven solution at £30k/ year saving.

BENCHMARKING:

In comparison to similar sized Unions, SMG deliver a cost saving of £17k/ year and deliver a more effective solution

Since the start of contract Cashflow has gone from
£9k to £240k 

Middlesex Students’ Union
Challenge: No regular management accounts for 5 years; bank balance at £9k.

Solution: Full finance process delivery including invoice processing and cashbook management.

Outcome: Bank balance increased to £227k in 9 months, regular management accounts reinstated. 

Suffolk Students’ Union
Challenge: Finance consultant unable to report due to backlogged ledgers; non-finance staff managing day-to-day.

Solution: Catch-up and ongoing support provided by SMG, including year-end prep and Xero restructure.

Outcome: Timely, accurate reporting restored. Day-to-day processes stabilised. Students’ Union.