Financial consulting is important in various aspects of financial work, as It helps in providing the necessary information to the investor to make the right financial decision at the right time.
It is also important in assisting companies to overcome the financial problems they may encounter by providing solutions for them after conducting specialized studies in this regard, analyzing the financial data of the company or institution, evaluating the work system in the various sectors of the company, the way the company manages its resources at all levels, which contributes in identifying the deficiencies in the work system and laying down the appropriate methods for dealing with them.
Financial consulting is considered one of the most important tools used in large and small projects, to achieve project success, reaching maximum profit, and estimating the size of the market in the future.
The benefits of financial consulting:
- Determining the financial position of the company at any time.
-Determining the company's ability to develop, and build new projects.
- Training new employees to gain experience.
- Establishing a stable financial system for the company and the employees.
- Achieving the highest benefit from customers and consumers.
- Achieving the highest financial profit return for the company.
- Commercial planning for the company to increase investment opportunities and avoid future risks.
Linking between financial consulting, marketing consulting, management consulting, and a feasibility study leads the project, company, or institution towards progress and towards achieving the highest profit; Which leads to the establishment of new investment projects.
The financial consultations contain important elements to determin the economic feasibility of the project, including:
- Market research, which requires knowledge of the market’s ability to absorb the new product, determine the current and future demand for the product to be marketed, as well as acknowledging the competitive position of the market, the possibility of exporting, and other elements.
- Researching the technical aspects, methods of production, equipment and buildings needs, and determining the location of the project and the justifications for choosing it.
- The financial study that requires knowledge of the financial requirements of the project, working capital, the return of the project.
- Organizational and administrative aspects that clarify the relationship between various project administrations, and determine the project's need of working force.
