SERVICE RESULTS
Tech Sector SME
The challenge: limited cashflow with actual numbers not hitting budget and a finance function that is over-run and therefore failing to prioritise tasks
The solution: re-create the budget to optimise spending and create realistic sales targets, create a commercial dashboard to enable sales to easily compare actual numbers to budget, define and implement key financial processes around working capital to prioritise finance functions' tasks and reduce individuals and team stress
The result:
✔️ 3 year budget built, extending company runways
✔️ Commercial dashboard created to help sales team compare actual sales to budget
✔️ Over £200k aged debts collected
Sound like a challenge similar to what your business faces? Book a free discovery call and let's see how we can work together to resolve your challenges and set your finance function up for success 👇🏻
VC-Backed SaaS Startup
The challenge: there is no finance function, only one Finance Director with finance being managed by external accountants who complete month-end reporting over two months after it has passed. The business is ready for an in-house finance function to provide more timely and accurate numbers that better support strategic business decisions.
The solution: manage the implementation of a new finance system (Netsuite), hire and train a new finance team, build out month-end controls and processes for reporting.
The result:
✔️ Netsuite is implemented in 2 months
✔️ Finance Assistant is hired to do transactional processing
✔️ Month-end is reduced to two weeks (starting before the end of the month)
PE-Backed Professional Services Group
The challenge: the main individual business has recently transitioned from being owner run to private equity back. As such, the reporting requirements of the business are evolving, acquisitions are occuring which means the business is leveraged with debt for the first time and having to integrate distinct finance functions in terms of people, systems, processes and reporting.
The solution: build out investor reporting and board pack, standardise reporting across the group, implement uniform processes and controls across the group, manage the relationship with the external lender ensuring new types of reporting and finance actions like covenant reporting and interest payments are completed in a timely manner.
The result:
✔️ Cut month end close from 15 days to 5 days
✔️ Reduce board pack size by 25% so only key information is retained
✔️ Scale business from £12m revenue to £30m revenue in 18 months
Privately Owned Tech Company
The challenge: first year audit with covenant requirements regarding completion date from external lender
The solution: manage audit process balancing business and finance functions desires with compliance requirements of auditors, creation of key audit documentation like process flows and accounting memos.
The result:
✔️ Auditor approved memos and process flows created
✔️ Audit completed by deadline meeting external lenders' covenants
✔️ Smoother process causing less disruption and stress for finance team and leaders