75% of UK organisations will prosper during the economic downturn according to a poll carried-out by UK business management and information systems provider, COA Solutions. Managing Directors, Financial Directors, and Financial Controllers from 100 UK public and private sector organisations completed the poll and 75% stated that their businesses will prosper during the downturn. 25% do not think their organisations will flourish during the economic slump.
Mark Thompson, Managing Director of COA Solutions says, "With so much talk of the devastating impact the credit crunch is having on UK business, these finding are encouraging, indicating that UK senior management have confidence that their organisations will not only ride-out the credit crunch but will profit from it."
Of the 25% of senior management who do not believe their organisations will flourish during the downturn, the majority of these companies are not-for-profit organisations, manufacturers and property developers.
Thompson adds, "There is no denying that the credit crunch is being felt by businesses throughout the UK, however, organisations can survive it and can even take advantage of it as long as they have the right strategies, processes and systems in place. The bottom line is that there is always money to be made, even in a credit crunch."
COA Solutions is hosting an Executive Briefing for senior finance professionals on 18 September 2008 at the ICAEW in London, to help businesses profit from the descending economy. Using practical examples, well-known financier and venture capitalist, Jon Moulton, will discuss the essentials of cash control, setting the right pace of action and exploiting weak competition and suppliers. Finance professionals can register at www.moulton-speaks.com <http://www.moulton-speaks.com/>
Notes to Editor
IMAGE OF MARK THOMPSON AVAILABLE UPON REQUEST - Please email firstname.lastname@example.org
About COA Solutions www.coasolutions.com
COA Solutions (formerly CedarOpenAccounts) is the UK's leading supplier of integrated business management and information systems to public, private and not-for-profit organisations in the service sector. COA Solutions prides itself on getting close to its customers by understanding their businesses and responding to their business needs.
COA Solutions' award-winning Smart Business Suite combines core financial management , procurement , human resource and payroll systems, integrated with a range of collaborative, document management and business intelligence solutions. These solutions extend the value and effectiveness of the finance, HR and payroll departments across the organisation and enable managers in the business to monitor, analyse and continually improve corporate performance.
COA Solutions has more than 500 experienced and professional staff supporting and servicing over 4,000 clients across the UK service sector including Companies House, Newcastle City Council, WHSmith, Royal Bank of Scotland, Aer Lingus, National Express Group, DFS, RSPB and Great Ormond Street Hospital for Children NHS Trust.
About Jon Moulton
Jon Moulton is Managing Partner of Alchemy, a UK-based private equity firm, which has invested £1.9 billion of equity with an emphasis on dealing with troubled companies. It recently completed the raising of a £300m European special opportunities fund.
He is a Chartered Accountant, a CF and Fellow of the Society of Turnaround Professionals. He previously worked with Citicorp Venture Capital in New York and London, Permira and Apax. He has been a director of five public companies, numerous private companies and is currently a director of the US-based Irvin parachute business, the COA Solutions IT business, Sylvan (timber) and Ashmore Group - a major investor in emerging market debt.
COA Solutions Contacts:
Liz Ebbrell, COA Solutions
+44 (0)1625 856505 or 07917 634 705
Ben Carey, COA Solutions
+44 (0)1625 856505
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