Independent Retail

FAO Retail is our sub-brand with services, experience, and knowledge tailored for the independent retail industry.

Avance Independent Retail Specialisation

Avance specialises in providing accounting and taxation services to independent retail businesses using the Avance proprietary FAO Retail platform. We have experience in providing retail-tailored services, will collaborate with you on financing and accounting solutions, and have an approach designed for your specific needs within this industry, including:

  • Accounting specifically for retail, inclusive of inventory tracking and post-purchase invoice payment cash flow tracking – such as those used in Afterpay,
  • POS and eCommerce integrations with our FAO Retail Cloud accounting platform,
  • Business development and system solutions geared to your situation and goals, and,
  • Tailored business solutions that are informed by retail-specific industry knowledge.

What is FAO Retail?

FAO (Finance and Accounting Outsourcing) Retail is a platform that allows retail owners and managers to outsource their accounting, tax, bookkeeping, and compliance duties. Avance does all the heavy lifting for you.

FAO Retail has many benefits, including:

  • Being a flexible, scalable platform with the capacity to meet peak reporting periods, changes in technology, or special projects,
  • Outsourcing bookkeeping, tax, and reporting, allowing you more time to focus on building your business,
  • Eliminating the need and cost for employees trained in accounting, and,
  • Using an outcome-based pricing model, meaning that you only pay for what is agreed upon and delivered.

FAO Retail is delivered under a Service Level Agreement as a fully managed service to ensure quality and compliance obligations are met. This client-oriented service guarantee ensures that business managers and owners are not distracted by micro-managing administrative tasks. Instead, you can focus your time on building your business.

For more information, contact Avance today!

The Additional Benefits of FAO Retail

Time

Business owners and team members are able to focus time on value-adding activities, including:

  • Providing uninterrupted service delivery and building positive relationships with customers,
  • Maintaining shop presentation and visual merchandising, and,
  • Managing inventory, marketing and promotions.

Insight

Accurate accounts and KPI reports allow owners and managers to make more informed decisions in regards to:

  • Improving shop performance, identifying what is working and what is not,
  • Managing cash flow, how to maximise the use of working capital, and,
  • Analysing inventory for better purchasing, ROI, product stagnation, and category sales.

Value

A reduction of admin overhead allows owners and managers to concentrate on building the business through:

  • Increasing profitability through building customer goodwill, revenue and profit,
  • Developing appropriate business strategies and implementing them, and,
  • Creating a systemised and self-managed business, which allows owners to spend time away from the business.

FAO Retail can also help with challenges and opportunities, such as:

Challenges

Are you experiencing challenges with any of the following issues:

  • Compliance issues,
  • Cash flow management,
  • Internet retail competition,
  • Franchise costs (if franchised),
  • Complex accounting,
  • Limited resources,
  • Technology challenges,
  • Procurement systems, or,
  • Inventory management.
Opportunities

Would you like assistance with securing or enacting upon the following opportunities:

  • Improved category decisions,
  • Special customer orders,
  • Group buying power,
  • Digital and eCommerce,
  • Accounts automation,
  • POS and Xero integration,
  • Compliance outsourcing,
  • Business development, or,
  • Omni channel marketing.

Contact Avance and take control of your financial wellbeing.

1300 620 345