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Mariam Koyava

PSP is one of the biggest pharmacies in Georgia, they import and distribute pharmaceuticals in approximately 220 PSP pharmacies located almost in every region of Georgia. Their products are imported from over 100 of the world’s leading pharmaceutical manufacturers. Every month 2 million customers choose PSP as their family's pharmacy.In 2017, SavvY implemented the following services: Full Diagnostics of IFRS, IFRS Implementation and Audit Support. Deriving from the company’s specific business activities the most critical elements were Property, Plant, and Equipment, Inventories, and Revenue.

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IFRS Adoption & Implementation

IFRS Implementation in pharmaceutical company

SavvY was the implementing party of International Financial Reporting Standards (IFRS) Capacity Building Activity across Georgia which was initiated by the Ministry of Finance of Georgia’s Service of Accounting, Reporting, and Auditing Supervision (SARAS) and supported by the United States Agency for International Development (USAID) project “Governing for Growth” (G4G).The project had very significant role in supporting the companies in successful IFRS implementation that was required by the new law regarding Audit and Financial Reporting.&nbsp;The project had the following outcomes:<ul style="list-style-type:disc;"><li style="text-align:justify;">The pool of IFRS trainers was created: 30 English-speaking and 58 Georgian-speaking trainers were trained&nbsp;</li><li style="text-align:justify;">The interactive training modules materials and syllabus was created that became publicly available resource&nbsp;</li><li style="text-align:justify;">100 accountants were trained via the newly designed interactive training modules</li><li style="text-align:justify;">35 training modules with the materials amounting to more than 2500 pages were translated to Georgian language</li></ul>&nbsp;<h2 style="text-align:justify;">How We Helped</h2>Together with the international experts, such as Mike Wells, SavvY team helped SARAS to implement multi stage capacity building activity for smooth implementation of IFRS standards within Georgian companies that was required by the new law of Accounting, Reporting and Audit.&nbsp;SavvY did outstanding stakeholder coordination, as this project aimed to increase the capacity of the existing talent pool in Georgia that would result in having lasting effect.&nbsp;SavvY has created different platforms to engage all existing stakeholders in different roles:<ul style="list-style-type:disc;"><li style="text-align:justify;">All existing experts in the field were cordially invited to join the distinguished Review Committee that would thoroughly work on checking the quality of the translated 35 modules of IFRS for SME. Eventually, the Review Committee worked out to be very effective.</li><li style="text-align:justify;">All newly trained and retrained trainers were invited to join the IFRS Training Network that became the platform to share any upcoming training opportunities as well as insights and new developments within the industry</li></ul><h2 style="text-align:justify;">&nbsp;</h2><h2 style="text-align:justify;">Impact and Potential</h2>The project had multiple areas of impact, which include but are not limited to:<ul style="list-style-type:disc;"><li style="text-align:justify;">A new pool of high-quality trainers in IFRS was created – The project created 88 new trainers in IFRS that resulted in the increase of supply of trainings that was indeed of the crucial importance to support the companies to transfer from National Accounting Standards to IFRS. In addition, this activity facilitated additional quite strong income stream for consulting companies and freelancers&nbsp;that started to offer IFRS related training products.&nbsp;</li><li style="text-align:justify;">35 Modules of IFRS for SME translated in Georgian language – these materials were the core stone support while country’s transition to IFRS standards as it enabled the practitioners in the field to have access on the demanded content in the local language. These materials are used even today by the accountants and reporting specialists in Georgia.</li><li style="text-align:justify;">Training Modules in Georgian language – specifically for this project, SavvY designed training materials that were used to train the pilot company’s accountants that were selected for this activity. It’s worth mentioning that these materials are public on the SARAS web page until today and all trainers, even those that did not participated int the training of trainer’s activity back in 2018 are eligible to utilize these resources for their training</li></ul><a href="https://saras.gov.ge/ka/Home/Modules?Length=4">You can see this module on link</a>.

USAID (G4G)

Saras

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Ecosystem Development

IFRS for SME Capacity Building Project

SavvY created a business plan for Goodwill JSC to expand its hypermarket chain and fast food direction. Goodwill is Georgia's first hypermarket chain, providing customers with a diverse range of products. It has its own line of prepared meals, meat products, and confectionery. Additionally, Goodwill stands as a significant importer of food and non-food products from various countries including Germany, Netherlands, Italy, France, Bulgaria, and Ukraine.<figure class="table" style="width:100%;"><table class="ck-table-resized"><colgroup><col style="width:31.58%;"><col style="width:68.42%;"></colgroup><tbody><tr><td><h2>How we helped</h2></td><td>Throughout the project, SavvY’s&nbsp;team investigated the main target markets and assessed the potential demand.&nbsp;</td></tr></tbody></table></figure>The market investigation included secondary research, statistical data analysis, as well as primary research, face to face interviews with the sector representatives. On top of that, the team explored direct competitors operating in the local market&nbsp;and&nbsp;assessed their concept, pricing strategy, strength and weaknesses, and their current financial position.&nbsp;In the end, the team came up with the business concepts describing the business model, emphasizing the competitive advantage of the project and further development potential.&nbsp;Finally, a detailed financial model was prepared and various scenarios were discussed.<figure class="table" style="width:100%;"><table class="ck-table-resized"><colgroup><col style="width:25.15%;"><col style="width:74.85%;"></colgroup><tbody><tr><td><h2>Impact and potential</h2></td><td>As a result,&nbsp;the&nbsp;client was provided&nbsp;with a detailed business plan document with information about&nbsp;favorable and&nbsp;unfavorable conditions for business development in Georgia.</td></tr></tbody></table></figure>&nbsp;

Goodwill

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Business Plan

Investment Teaser

Ready-to-eat and semi-finished food production

SavvY has been a trusted partner to Sodi Investment, an investment fund and direct subsidiary of Guibor (a multi-sector investment company) providing comprehensive investment and financial advisory services. The primary objective of our involvement has been to assist the fund in navigating the complex investment landscape by offering independent financial advice, evaluating potential investment opportunities, and monitoring the financial performance of the investment portfolio.Sodi Investment focuses on real estate, with a concentration on both residential and hospitality sectors. The company’s core vision revolves around revitalizing old and historical buildings by infusing them with modern style and functionality.<h2 style="text-align:justify;">How We Helped</h2>SavvY played a strategic role in supporting Sodi Investment across the full investment lifecycle. Our work focused on empowering the fund with expert insights, data-driven analysis, and strategic financial advice. Key areas included:<ul><li style="text-align:justify;">Investment Evaluation &amp; Financial Modeling - We provided rigorous financial analysis and modeling to assess potential deals, ensuring each opportunity aligned with the fund’s objectives and market realities.</li><li style="text-align:justify;">Performance Monitoring &amp; Reporting - Through continuous tracking and evaluation, we helped maintain financial discipline across the portfolio, offering regular insights and updates to support data-informed decision-making.</li><li style="text-align:justify;">Strategic Financial Advisory - We acted as a trusted advisor in high-stakes financial negotiations and transactions, ensuring optimal financial terms and long-term value for shareholders.</li><li style="text-align:justify;">Audit &amp; Compliance Oversight - When needed, we facilitated external audits to uphold transparency, compliance, and investor confidence.</li></ul><h2 style="text-align:justify;">Impact and Potential</h2>Our engagement with Sodi Investment has enabled the fund to make well-informed, strategic investment decisions while maintaining financial discipline and operational transparency. The advisory support has been crucial in ensuring the financial soundness of investment opportunities and optimizing the overall performance of the portfolio. Through our active monitoring and expert financial recommendations, we have helped the shareholders enhance their investment outcomes and ensure the sustained success of their portfolio.This ongoing partnership highlights SavvY’s commitment to providing sophisticated, personalized financial and investment advice that supports long-term growth, financial efficiency, and success for institutional investors.

Sodi Investment

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Financial Reporting

Investment Advising

Fundraising

Sodi Investment Fund Advisory & Financial Management

SavvY has been a trusted partner of Kinor Investment, an investment fund, providing expert investment and financial advisory services. Our primary goal has been to guide the fund through the complexities of the investment landscape by offering independent advice and closely monitoring the performance of its real estate investment portfolio.<h2 style="text-align:justify;">How We Helped</h2>SavvY provided end-to-end financial advisory to support Kinor Investment’s strategic goals. Our core contributions included:<ul><li style="text-align:justify;">Investment Evaluation &amp; Financial Modelling - We built and assessed financial models grounded in market realities and shareholder priorities, delivering clear recommendations on investment viability.</li><li style="text-align:justify;">Performance Monitoring &amp; Reporting - We provided ongoing financial oversight across the portfolio, delivering regular performance updates and actionable insights, and ensuring transparency through access to essential data.</li><li style="text-align:justify;">Quarterly Financial Reviews - We conducted structured quarterly reviews of all active investments, identifying areas for improvement and helping boost financial efficiency.</li><li style="text-align:justify;">Audit &amp; Compliance Support - We facilitated external audits when needed, ensuring financial accuracy and alignment with industry standards to reinforce trust and compliance.</li></ul><h2 style="text-align:justify;">Impact and Potential</h2>Through our collaboration with Kinor Investment, the fund has been able to make informed, strategic decisions, maintaining both financial discipline and transparency. Our advisory services have played a crucial role in assessing the financial soundness of investment opportunities, optimizing the overall portfolio performance, and enhancing financial efficiency.&nbsp;

Kinor

Kinor Investment Advisory & Financial Management

Insights

<img src="/uploads/The_e5e29c6797.webp" alt="The.webp">&nbsp;Running a business comes with many challenges. One moment everything’s fine, but then you’re dealing with some surprise - it could be extra costs, late payments or sudden market changes. In these moments, strategic&nbsp;<a href="https://wesavvy.co.uk/services#financial-management">financial management</a> makes a real difference, giving the business the support it needs to face tough situations.Think about it - how many businesses have done well for years but then suddenly failed because of bad financial decisions? Often, the difference between businesses that survive hard times and those that don’t is how well they manage their finances and plan ahead.&nbsp;What is financial management and why does strategy matter?Before we continue, let’s answer a basic question: what is financial management? To put it simply, financial management means planning, organizing and controlling a company’s finances to reach its goals. But strategic financial management is more than just keeping the numbers in order, it’s about making smart decisions that protect the business from risks and help it grow.Yes, strategic financial management is different from basic financial work because it focuses on planning for the future. While regular financial management looks at what has already happened, strategic financial management thinks about what could happen and gets the business ready. This approach includes financial risk management, which helps businesses find and reduce possible financial problems before they become serious.&nbsp;To work effectively, however, financial risk management requires ongoing monitoring and adjustment of strategies as business conditions change and new challenges arise.Understanding financial risks that threaten business stabilityEvery business faces various financial risks that can impact its stability. Understanding these risks is the first step toward building a solid financial strategy:Market risk means the chance of losses because market conditions change. For example, if you have a retail business and customer preferences suddenly change, your products might lose value quickly.Credit risk occurs when customers, suppliers or business partners fail to meet their financial obligations to your company. If a major client suddenly can't pay their invoices, it could create a serious cash flow problem.Liquidity risk happens when a business cannot pay its short-term costs because it does not have enough cash or easily available assets. Even profitable companies can face liquidity problems if too much capital is used for things that take time to sell.Operational risks come from problems inside the business, like processes, systems or events that can cause losses.&nbsp;Beyond the primary financial risks, businesses also face regulatory risks from evolving laws and governance requirements. Environmental threats, such as natural disasters and the impacts of climate change, are becoming increasingly urgent. In addition, in today’s digital world, technology risks, like system failures and cyberattacks, introduce new challenges that cannot be ignored. Addressing these risks demands focused attention.How strategic financial management reduces unexpected lossesStrategic financial management works like a protection system for your business. By doing proper risk checks and planning, companies can reduce the impact of unexpected financial problems.The key is financial forecasting and planning for different situations. A good finance manager looks beyond today’s numbers, they study trends, think about possible situations and prepare extra plans. This way of thinking helps businesses see problems early and react quickly when they happen.For instance, companies that practiced strategic financial management during the 2020 pandemic were better positioned to adapt. They had saved emergency funds, earned income from different sources and managed their costs in a flexible way, which helped them survive the crisis.The critical role of finance managers in risk assessmentFinance managers play a key role in identifying and assessing financial risks. They go beyond basic accounting by using&nbsp;<a href="https://wesavvy.co.uk/services/financial-reporting">financial reporting</a>, monitoring cash flow and analyzing both internal operations and external market conditions. By identifying problems early, such as lower profits, rising unpaid invoices or shifts in the market, they help the company develop strategies to reduce risks and stay stable.A skilled finance manager acts as both an analyst and a strategic advisor. They turn complex financial data into clear insights that business leaders can use.&nbsp;Strategies for reducing financial risksOnce risks are found, businesses need clear plans to deal with them. Insurance can help protect against different kinds of losses, like damage to property or stops in business activity. But insurance is only one part of the solution.Planning a reserve fund is another important strategy. Saving extra money during strong business periods gives the company support for difficult moments. This is where financial savings management is very important -&nbsp; Businesses need to find a balance between saving for the future and investing in growth.Diversification is also very important for reducing risk. Companies that depend too much on one customer, one supplier or one source of income face bigger risks than companies that have more variety.&nbsp;Building long-term financial stabilityFor a company to stay strong over many years, it needs more than short-term plans or fast results. Long-term financial stability comes from creating a strong foundation that helps the business face both challenges and make moves their competitors might miss because of financial limits.Strong financial management allows a company to grow, improve its work and handle hard times without losing control. Over time, this careful and thoughtful approach helps the company not only stay alive but also succeed, even when the business world keeps changing.Making strategic financial management a priorityIn conclusion, in today’s unpredictable business world, strategic financial management must be at the center of every company’s plans.&nbsp;Success depends on skilled finance managers who understand both the numbers and the bigger business picture, who use financial reporting to catch early signs of problems and manage savings carefully to keep a good balance between safety and growth.Strong strategic financial management does not mean avoiding all risks - it means understanding which risks are worth taking, preparing for possible challenges and making smart financial decisions. Companies that achieve this balance are more likely to stay steady and grow successfully.At&nbsp;<a href="https://wesavvy.co.uk/">Savvy</a>, we help businesses strengthen their financial strategies so they are ready to face whatever comes next.

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The Role of Strategic Financial Management in Business Stability

<figure class="image image_resized" style="width:100%;"><img src="/uploads/Screenshot_2025_06_05_at_12_30_32_6e4e448402.png" alt="Why Capacity Development Is Critical for Organizational Growth"></figure>When a company grows, it usually happens because different parts of the business work well together: the right people, clear systems and smart ways to improve. These things don’t happen by accident. They need time, planning and effort.&nbsp;Growth brings both opportunities and challenges. As the business expands, new problems appear. Tasks get more complex and teams need to learn how to handle them. Without good internal systems and skilled people, even strong companies can start to struggle. That’s why it’s important to build the internal strength of your business as early as possible.It’s not just about being efficient. It’s about building a company that can survive in a changing world. Markets change, technology moves fast and customer needs grow. Businesses that don’t invest in their people and processes often lose their place in the market. To stay ready and competitive, the key is&nbsp;<a href="https://wesavvy.co.uk/services/capacity-development-and-training">capacity development.</a><h2 style="text-align:justify;">Capacity development definition - what does it really mean?</h2>Capacity development is a way to make an organization stronger by improving what happens inside the company. This includes training employees, creating better systems and building clear structures for how work is done.The purpose is to help the organization do its job better now and in the future. It’s not about quick fixes, it’s about steady progress. Teams learn new skills, managers get more support and daily tasks become more efficient.Some people also use the term capacity building. The two are similar, but capacity development usually focuses more on learning through real experience, not just theory or outside help. It helps the company grow step by step and improve over time.It’s also a long-term investment. Unlike short-term solutions that solve only today’s problems, capacity development prepares your business for what’s next. It builds a strong base that helps you grow your work, lead your team better and make strong decisions in different parts of the company.<h2 style="text-align:justify;">The main benefits of capacity development for companies</h2><ol><li style="text-align:justify;">Building skills and competence across the team</li></ol>Employees are the most important part of every organization. If they grow, the company grows. One of the main goals of capacity development is to help team members develop new skills and improve their current abilities.This can include:<ul><li style="text-align:justify;">Leadership skills</li><li style="text-align:justify;">Project management</li><li style="text-align:justify;">Communication and teamwork</li><li style="text-align:justify;">Problem-solving and innovation</li></ul>By investing in employee growth, companies can reduce mistakes, improve decision-making and build stronger teams that can face future challenges with confidence. It also makes employees feel more appreciated, which can help them enjoy their jobs more and stay longer in the company.<ol start="2"><li style="text-align:justify;">Using training, workshops and on-the-job learning</li></ol>One powerful part of any&nbsp;<a href="https://wesavvy.co.uk/media/capacity-development-in-organization-change">capacity development plan</a> is offering opportunities for practical learning. This can happen through:<ul><li style="text-align:justify;">Regular internal training sessions</li><li style="text-align:justify;">External workshops with industry experts</li><li style="text-align:justify;">Mentorship programs</li><li style="text-align:justify;">Learning by doing (on-the-job training)</li></ul>This kind of learning is effective because people practice while doing real work. It makes learning more useful and easier to remember. It also builds confidence, improves productivity and makes sure that skills are used in the right way.At SavvY, we always recommend including hands-on learning tools in your development strategy. It’s not only about what people know, but how they use that knowledge in daily tasks. Even short training sessions or learning by watching others can be very helpful. They give employees the chance to try new things and learn at their own speed, without too much pressure.&nbsp;<ol start="3"><li style="text-align:justify;">Improving work standards with innovative approaches</li></ol>Another important part of capacity development is creating better ways of working. When an organization is open to learning, it also becomes open to new ideas. This allows teams to update their processes, test modern tools and apply innovative methods to improve quality and speed.For example:<ul><li style="text-align:justify;">Setting clear performance standards</li><li style="text-align:justify;">Using digital tools to track progress</li><li style="text-align:justify;">Creating standard operating procedures&nbsp;</li><li style="text-align:justify;">Breaking big tasks into smaller parts</li></ul>These changes don’t only make daily work easier, they also help companies become more adaptable and ready for change. This makes the whole organization more prepared to face competition and meet market demands.As a result, your company can reduce waste, save time and focus more energy on growth activities. Teams also work more closely together, which helps stop confusion or doing the same work twice<ol start="4"><li style="text-align:justify;">Creating a learning culture</li></ol>Long-term growth comes from inside the company. When employees feel supported and know that learning is part of their job, they are more motivated to improve. A learning culture means people are not afraid to ask questions, share feedback or try new things.Capacity development helps build this kind of environment. Over time, learning becomes a habit. This helps the company keep improving and moving forward.&nbsp;It also means that new team members feel more included. When learning is part of everyday work, it’s easier for new hires to grow into their roles and contribute faster.&nbsp;<h2 style="text-align:justify;">The role of a capacity development plan</h2>A well-designed capacity development plan gives your organization a clear direction. It helps answer important questions like:<ul><li style="text-align:justify;">What skills do we need in the next 6-12 months?</li><li style="text-align:justify;">How can we train people in a way that works?</li><li style="text-align:justify;">How will we measure progress?</li></ul>By having a plan, companies can avoid random, unstructured development. Instead, they can focus on their goals and use resources wisely. This makes training more effective and helps leaders see results.A good plan also supports managers. It gives them a better understanding of what their teams need and how to support them. This creates better leadership and stronger communication across departments.<h2 style="text-align:justify;">Invest in your growth from within</h2>In a world where change happens fast, businesses must be ready to learn, adapt and grow. By developing people, improving systems and building strong internal capacity, organizations can create long-term success.At&nbsp;<a href="https://wesavvy.co.uk/">SavvY</a>, we work with companies that want to grow from the inside out. Whether it’s building a training program or designing a full capacity development plan, we guide your team to achieve their full potential.So, if you're thinking about how to improve your team’s performance or prepare for future challenges, start with capacity development.

Why Capacity Development Is Critical for Organizational Growth

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<img src="/uploads/Capcity_0ca5e5486f.webp" alt="Capacity development">Businesses today face constant change. Companies that succeed know they need employees with the right skills to handle new problems. This is why smart organizations invest in&nbsp;<a href="https://wesavvy.co.uk/services/capacity-development-and-training">capacity development, training</a> their teams to help them adapt quickly when challenges come up. When workers learn new skills through capacity development, the whole company gets stronger and can grow better in the future.<h2 style="text-align:justify;">Why capacity development matters</h2>“When we talk about the capacity development definition, we simply mean teaching people the skills they need to do their jobs better,” say business experts, who believe that companies that don’t focus on this, often have problems when markets change. This need is especially clear to business consulting firms like SavvY, which help turn the capacity development definition into real action. They often run special programs that give people the skills they need and help businesses grow.For example,&nbsp;<a href="https://wesavvy.co.uk/">SavvY's</a> digital skills program recently helped almost 200 entrepreneurs from different industries improve their online skills. The program taught important things like how to manage email, use online platforms and create digital marketing – overall, skills that are needed to succeed in today’s business world.&nbsp;<h2 style="text-align:justify;">How capacity building supports organizational growth</h2>There is no doubt that when employees learn new skills, they feel more confident and valued. This creates a better work environment and increases productivity.In general, the capacity building process involves:<ul><li style="text-align:justify;">Identifying missing skills in the team</li><li style="text-align:justify;">Creating specific training programs</li><li style="text-align:justify;">Using practical learning activities</li><li style="text-align:justify;">Checking progress and results</li></ul>Some business consulting firms understand how important this kind of support is. For instance, SavvY has also developed specialized programs like the Export Management Hub. This type of initiative helps businesses build strong teams for international work through coaching and training, giving employees important skills for global trade, such as market research, competitor analysis and product packaging.&nbsp;<h2 style="text-align:justify;">Creating an effective capacity development plan</h2>A strong capacity development plan is very important when a company goes through changes. This plan should explain how the company will help employees learn new skills over time.A good capacity development plan should:<ul><li style="text-align:justify;">Match the company’s main goals</li><li style="text-align:justify;">Include both short-term and long-term plans</li><li style="text-align:justify;">Focus on useful skills employees can use right away</li><li style="text-align:justify;">Have clear ways to check if the plan is working</li></ul>“A good capacity development plan doesn't just improve skills today, it prepares the organization for future challenges”, - notes industry experts. Nowadays businesses can choose from many options to develop their teams. For example, when new financial reporting rules came in, SavvY ran a full IFRS (International Financial Reporting Standards) training program. This program trained many trainers and accountants. It also created simple learning materials and translated the training modules into local languages. Such clear and organized approaches help businesses meet new requirements by building skills step by step.<h2 style="text-align:justify;">The long-term benefits of capacity building</h2>Capacity building doesn't just give fast results. The real benefit comes when companies improve over many years. In addition, regular learning helps businesses:<ul><li style="text-align:justify;">stay competitive when markets change</li><li style="text-align:justify;">adapt to new technologies and customer needs</li><li style="text-align:justify;">encourage new ideas and solve problems better</li><li style="text-align:justify;">build a strong base for future growth</li></ul>Without proper capacity development, managers may find it difficult to make the right decisions or plan well.<h2 style="text-align:justify;">Capacity development as a tool for change</h2>In conclusion, capacity development is more than just training. It is about building the essential skills that help an organization succeed. With good capacity building programs and a clear plan, companies can make improvements that support their long‑term goals.Organizations that invest in capacity development now will be better prepared for tomorrow’s challenges and as markets continue to change, the ability to learn and adjust will be even more important for business success.

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The Role of Capacity Development in Organizational Change

<img src="/uploads/Financial_management_acc34a4b76.png" alt="Financial management.png">You’ve probably heard the saying: “When you run a business, today’s decisions can shape your future”.&nbsp; But when people say this, they’re not only talking about having a good product or strong marketing, they’re also talking about controlling finances. Business owners understand that without good&nbsp;<a href="https://wesavvy.co.uk/services/financial-management">financial management</a>, it becomes hard to grow, take risks or survive during tough times. That’s why financial management isn’t just one part of a business, it’s what keeps everything working together and helps the business stay successful.SavvY&nbsp;understands this better than most. As a business consulting firm, we've seen many companies struggle with financial planning and control. That's why we offer specialized services to help businesses of all sizes get their finances in order. Through careful analysis, strategic planning and expert guidance, we make sure our clients have the right tools and knowledge to make smart financial decisions. When companies work with us, they learn to use financial management as a powerful way to grow.<h2 style="text-align:justify;">The main functions of financial management</h2>To understand why financial management is so important, we need to look at its key components, one of which is&nbsp;<a href="https://wesavvy.co.uk/services/financial-reporting">financial reporting and analysis</a>. This clear overview of financial results helps everyone, from managers to investors, make better decisions. By using financial reporting and analysis, companies can measure their financial stability, identify areas that need improvement, spend their resources wisely and increase profits.Another important part is&nbsp;<a href="https://wesavvy.co.uk/services/financial-modeling">financial modeling.</a> This tool helps you understand what might happen if you make certain decisions. Whether you're considering investing in a new venture, exploring opportunities to expand your business or looking to improve cost efficiency, financial modeling reveals the potential financial impact of these strategic decisions. It allows you to test different ideas on paper before committing any actual capital.We also need to talk about financial risk management because things don’t always go as planned. The market can change, unexpected costs can happen or customers might stop buying products. But with good financial risk management, you are ready for these problems. It means having a plan for difficult situations and this helps your business stay safe and continue working even during tough times.All these parts mentioned above: financial reporting, financial modeling and financial risk management, work together to keep your business strong. They help you see where your business is now, make plans for the future and be prepared for possible problems.<h2 style="text-align:justify;">The role of a finance manager in the organization</h2>To use financial management well, you need someone who knows how to work with finances. That’s why having a finance manager is important. A skilled professional can take basic financial tasks and turn them into useful tools for the business.&nbsp;At&nbsp;SavvY, our financial management services include experienced finance managers who become part of your team. We don’t just work with numbers, we help guide your company’s financial future. Our finance managers make sure your financial decisions support your business goals, helping you make good choices that lead to steady growth.One of the most important tasks for them is monitoring how your company is performing financially. They use financial reports and analysis to evaluate key metrics such as profit margins, return on investment (ROI), cash flow, operating efficiency. With this information, they can see what’s working well and what areas need attention.&nbsp;Finance managers also create budgets and manage financial risks. Their ability to find problems early helps businesses stay organized and avoid financial losses. By improving financial performance step by step, a finance manager becomes an important partner in helping your company succeed over time.<h2 style="text-align:justify;">Why every business needs good financial management</h2>Now that we've seen how financial management works, it's easy to see why it's so important. Good financial management helps businesses avoid common mistakes and also encourages good habits in all areas of the company because everyone can see how their work affects the business’s finances. When a business has good financial systems in place, it can quickly respond to problems. For example, if sales suddenly drop, a company with strong financial reports can easily make changes to reduce the impact.For business owners who don’t have a financial team or need more flexibility,&nbsp;SavvY’s&nbsp;financial management services are a great solution. Our “Floating CFO” service offers high-level expertise with hands-on support. From setting clear financial goals to checking performance and providing detailed reports,&nbsp;SavvY&nbsp;becomes a key partner in helping the business progress.<h2 style="text-align:justify;">Final thoughts and tips for business owners</h2>In today's business world, where competition is strong, every decision matters. Whether your business is new or has been around for a while, good financial management is important for staying stable and moving forward.If you're running a business and feel unsure about your finances, here are some things to think about:<ul><li style="text-align:justify;">Check your finances regularly - Don’t just look at your numbers once a year. Monitor them and see how they change over time.</li><li style="text-align:justify;">Don’t skip planning - Use financial models to test different options before making big decisions.</li><li style="text-align:justify;">Understand the risks - Even small problems can become bigger if you don't manage financial risks properly.</li><li style="text-align:justify;">Consider services like&nbsp;SavvY's “Floating CFO” option. You don’t have to do everything alone. A trusted financial expert can make a big difference now and in the future.</li></ul>And always remember to keep checking your financial performance. A business is always changing, and its financial needs change too. Stay active, stay informed and let proper financial management lead you to success.&nbsp;

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Why Financial Management Is the Key to Business Success

<img src="/uploads/NEW_PROJECT_compressman_fb29652bda.jpg" alt="Why Every Business Needs Business Training to Succeed">Imagine you are the leader of a growing business, full of new ideas and excited about the challenges that might come. You want to lead your team to success and at some point, you have everything you need to achieve it: passion, vision, determination, etc. But even with these qualities, you will quickly see that running a successful business requires more than just hard work. Every entrepreneur knows that having the right training and skills is important for managing a business well.As a top executive, you may know a lot about strategy, but running a successful company means that you need to keep learning and improving your skills. In general, business training isn’t just for beginners, it’s also for leaders who want to make better decisions and work more efficiently. It gives you and your team the knowledge to avoid mistakes and make smart choices that will help your business be successful.And this is where <a href="https://wesavvy.co.uk/services/capacity-development-and-training">capacity development</a> makes a big difference.<h2 style="text-align:justify;">How capacity development helps your business stay competitive</h2>Let’s start with the capacity development definition, which means improving the skills, knowledge and abilities of employees and the whole organization. This makes the business stronger and more flexible. Also it is generally acknowledged and proven that when companies focus on training leaders and developing teams, they improve communication and teamwork.&nbsp;Besides these, by improving these skills, businesses can deal with challenges better, make smarter decisions and find new opportunities. Capacity development also helps businesses adjust to changes in the market and stay on top among competitors. In the end, it makes the business stronger and better while achieving its goals.Also, investing in capacity development can make employees feel more confident and valued when they learn new skills. This can create a better work environment, reduce the number of employees who are about to leave and help increase productivity. When employees are trained well, they are more likely to contribute as much as they can to the business's success.<h2 style="text-align:justify;">The role of business training in helping entrepreneurs</h2>To better understand the benefits of business training, let's look at a real example. One such example is&nbsp;<a href="https://wesavvy.co.uk/">SavvY's</a> involvement in the Be Digital program. The program was focused on helping entrepreneurs improve their digital skills and this initiative played a key role in enhancing digital capabilities. It became clear how business training could bring real and positive changes.Through the Be Digital program, almost 200 entrepreneurs from various industries, such as food processing, tourism and winemaking, participated in training sessions across Georgia. The program was focused on teaching essential digital skills, like using email, managing online platforms, creating marketing materials and handling invoicing. By learning these skills, entrepreneurs were able to improve their business operations, make marketing easier and increase their productivity. It’s clear that these are key factors for staying competitive in today’s digital world.The training was interactive, with activities that let participants create their own digital tools, like business logos and brochures and register their companies on online platforms. This interactive method helped entrepreneurs use what they learned in their businesses, which made the training more effective.&nbsp;Another example of SavvY's impact is its involvement in the IFRS for SME Capacity Building Project. This project was led by the Ministry of Finance of Georgia and supported by USAID's Governing for Growth project to help businesses in Georgia use International Financial Reporting Standards (IFRS) because of new laws. Like the Be Digital program, which helped improve digital skills, this project was important for improving&nbsp; business practices, especially in financial transparency and responsibility.&nbsp;Through this project, SavvY trained 88 IFRS trainers, made simple learning materials and trained over 100 accountants. Also, 35 training modules were translated into Georgian to help local professionals understand IFRS better. This training helped businesses be more open and responsible with their finances, which is important to stay competitive. In the same way, the Be Digital program showed how training can give entrepreneurs the skills they need to succeed.To better understand how capacity development and training help entrepreneurs, you can look at some of&nbsp;SavvY's other successful projects on our website. These examples show how targeted training programs can significantly improve entrepreneurs' skills and help their businesses grow.&nbsp;<h2 style="text-align:justify;">Skills development for stronger businesses</h2>As we saw in the Be Digital initiative, focused training can have a big impact on the skills of entrepreneurs. But skills development is not only about digital tools. It is also important for helping businesses grow in global markets and make sure they will succeed in the long-term. This is where capacity building comes in. Capacity building means giving employees the right skills,&nbsp; so they can help the business grow.A great example of how skills development helps businesses grow is&nbsp;SavvY’s&nbsp;<a href="https://wesavvy.co.uk/services/export-management-hub-skills-development">Export Management Hub</a>.&nbsp; SavvY offers special coaching and training to help businesses build teams that will be focused on exports. This service gives workers important skills for global trade, like market research, finding export markets, competitor analysis and product packaging.&nbsp;Besides helping businesses build strong export teams, the Export Management Hub also helps them create effective strategies to succeed in international markets. By focusing on strategies for each market, SavvY helps businesses understand the needs of different countries and areas. This allows companies to create plans that increase their chances of success when entering new markets. The provided guidance helps businesses face challenges in global trade, such as adjusting to local cultures, understanding what customers want and following international rules.&nbsp;This approach is part of a capacity development plan that makes sure businesses can grow and succeed. Overall, it shows the capacity building meaning, which is giving companies the knowledge and skills they need to do well in the global market.<h2 style="text-align:justify;">The impact of business training in the long-term</h2>It’s important to note that the benefits of business training are not just about quick results. This means that training can improve skills, but its real value is in the long-term. Learning regularly helps businesses stay competitive, adjust to changes and encourage new ideas, which ensures that companies are ready to face future challenges and take advantage of new opportunities. Because of all these benefits, business training is especially important for startups.Many startups fail because they don’t have the right skills to grow and solve problems. Without good training, business owners may find it hard to make the right decisions or create strong plans. Business training helps them gain important knowledge and tools to handle these challenges. It teaches them how to plan better, avoid common mistakes and create a strong foundation for future success.Learning regularly also helps businesses adjust to market changes. As technology and customer needs change, companies need to follow the changes to stay competitive. Training programs give them new ideas and show them ways to solve problems. When business owners and employees keep learning, they can find new opportunities and make stronger business strategies.<h2 style="text-align:justify;">Strengthen your business with SavvY’s training and development programs</h2>In today’s competitive world, the path to lasting success relies on continuous learning and capacity development. Therefore, SavvY’s personalized coaching and training programs are great examples of how businesses can develop the right skills to succeed globally. If you want to move your business forward, think about how SavvY’s expertise can help you reach your goals.&nbsp;Don't wait, invest in your team's development today!

Why Every Business Needs Business Training to Succeed

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