Important MCR facts:
MCR has 21 partners and directors. MCR is a regular sponsor of the ABFA conferences and provides educational training to support the industry. MCR employs over 180 people across the UK. MCR is the 27th largest accountancy firm in the UK. MCR has offices in London, Manchester and Birmingham. MCR has raised over £100,000 for charity and seven MCR partners ran in the London Parks Half Marathon on Sunday 10 October 2010 with numerous staff and clients for Asthma UK. Donations via
www.justgiving.com/m-c-r.
MCR and ABL – The next 10 years…
W
e know from very recent experience that whatever happens in the next 10
years it’s not going to be easy to predict, boring or uninteresting! MCR is known for delivering solutions and is committed to continuing the development of its service offering in order to assist with whatever challenges, in managing risk and client relationships, which the future brings. Increasingly we see pressure within well established businesses to manage their core operations more efficiently, but we also see pressure building from the lack of cashflow within the economic system,
with debtor days being stretched and in some cases debtor failure. This can lead to a cautious outlook and at worst can cloud decisions to underwrite business without belt and braces security. Fortunately we don’t believe that the
ABL sector is anywhere close to this and indeed we have seen many examples of creative facilities against a basket of assets that offer good security for the ABL provider. This is encouraging and helping deliver working capital solutions for SME’s. Additionally, the return of stock funding and cashflow facilities are re-emerging for the right client.
Client quotes
“Over recent years we’ve approached MCR with a diverse mix of projects, with varying degrees of complexity. Whatever the challenge, one thing is certain – the outcome is always effective and delivered with a friendly and highly professional approach.” James Shaw, risk director GE Capital UK Limited. “Always approachable and accessible, we have come to rely on the MCR team when a situation demands a flexible and creative solution. MCR completely understands the ABL market and their own unique brand of sound business judgement gives us total confidence in the outcome.” Tim Hawkins, commercial director Centric Commercial Finance. “We have worked closely with MCR on a number of projects and have always been impressed by their industry experience of the ABL market and the speed with which they develop workable solutions.” Alan Couzins, operations director, Leumi ABL.
48 November/December 2010 Business Money The scale of client growth according to
the ABFA statistics is staggering and to manage this we expect to see further development of ABL risk tools over the next few years to complement the already sophisticated range of monitoring systems. Who would have thought a few years ago that it would be possible to move to a virtual system for assigning debt and conducting soundings of security? With sector development comes the question of regulation and the degree to which self regulation is a formula for the future. We suspect that this will continue to be an interesting debate, which will hopefully provide a further positive platform to develop the ABL sector. For the immediate future it is all about generating and managing cash and it seems more than ever, cash is king. Within the MCR business consulting team our engagement increasingly relates to a number of situations that require cash generation as part of a wider business turnaround. Risk tools may be the trigger for action, but we believe that into the future we will need to have excellent people capable of managing risk and turnaround. At MCR we continue to develop our people to be best in class and encourage transfer of knowledge to others within the ABL sector.
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