17 June 2020

Today, we’re introducing the newest member of our team – Drew! As a management accountant, Drew helps our clients make better business decisions by keeping them up to date with the figures on a regular basis.

My name is Drew Norcup, I’m 27, and I’m originally from Darlington. I joined Nephos at the beginning of April, right at the height of this crazy time, but it has been an extremely positive experience for me so far. 

Tell us a bit about your background.

Prior to Nephos, I worked for the largest agricultural company in the UK with a turnover of around £400 million per year. I was part of the management accounting department, as well as being a business partner for a large segment of the company.

I started my accountancy career in purchase ledger – it’s repetitive work, but gives a good grounding for going into management accounts. Management accounts entails understanding our clients’ numbers to their full potential and applying ratio analysis and narrative to this. Having worked in the detail of sales and purchases for 18 months, it enabled a detailed level of understanding of the transactions. I feel starting a management account career in an admin role is a massive benefit to anyone's accountancy career.

I quickly moved onto dealing with overhead analysis for various cost centres of the business. This entailed analysing variances in costs and working alongside senior staff to understand their monthly spend, building budgets, forecasting and being pro-active and trying to add value where possible. 

This led me onto a business partner role where I worked closely with the head of fertiliser (turnover £100 million per year) and assisted the senior business partner with analysis of the chemical side of the business (£200m revenue per year ). My day-to-day revolved heavily around assisting senior staff in understanding where the business was in terms of profitability for that week/month and understanding the reason why. From here, we would decide what impact this would have on the next weeks/months result. 

How does Nephos differ from your last role?

Nephos is a very forward-thinking firm that utilises the most recent apps and technology. My previous role involved a lot of data manipulation in Excel and manual intervention, so it was stuck in the past. Learning the various new systems and their positives and shortcomings has been both exciting and challenging. 

My previous role was also in industry and a little more repetitive whereas Nephos is in practice and my day-day is more diverse. Working for a smaller business has more of a family feel to it and in everything I do, I feel more appreciated, which is a massive positive. Previously, as part of a large PLC, it was easy for my valuable work to get missed or not be appreciated. 

What tools do you use to prepare your management information?

I utilise Fathom to build my reports and have extensive experience with Excel to build any bespoke reports if required. I also manipulate the data within Xero to produce bespoke reports for my clients.

How do you think Nephos will increase their management base?

The main way will be marketing the benefits of receiving management information, showing examples of reports we've produced, and building a good base of client case studies that demonstrates how this has helped them in difficult times. For new clients it should be mentioned in every conversation when signing them up as a client. For existing clients, it will be a case of showing them the benefits of advisory practices and management information – show them that living in the future is better than living in the past. Simply being enthusiastic and pro-active and making the client aware of what we can offer will be a huge step towards engaging more management clients.

What advice would you give to others in similar roles to you?

The biggest advice I can give is to really understand what your stakeholders value, understand the business, and be proactive. Once you understand what your stakeholders find valuable and the requirements of the business, this means that you can be proactive and work on adding value to those projects. 

Get in touch today

Need a clearer view of where your business is headed? Have a chat with our advisory experts. To arrange a call with Drew or a member of the team, email julie@nephosaccountants.co with further details.  
 

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