New Finance Team – MSP

Our client was experiencing rapid growth and the challenges that come with that had hi-lighted both systemic and finance team structure short-falls. There was a lack of confidence around the validity, timing and quality of financial controls, reporting and ‘added value’ business insight.

Our initial recommendation was to provide an interim finance expert who had experience of reviewing current finance systems, processes, team structure and quality of date.

Within a short space of time a number of action points were identified and prioritised. Once agreed our interim finance implemented a plan that resulted in a number of permanent and interim hires that over a relatively short period of time made significant progress. Outcomes included:

• The recruitment of new staff (including a Head of Finance) and development of existing finance team members to create a high performing team that had a clear understanding of expectations and the provision of resources to deliver high quality outcomes.
• The redesign of finance reporting that gave clear and informative data and analysis in a format that the senior leadership team could make informed decisions from.
• Robust financial controls (including management of working capital).
• Significant improvement in stock management and planning.
• Review and improvement in forecasting and planning processes that achieved ownership and accountability across business functions.
• Achievement of positive external audit and provision of accurate and timely financial data for due diligence purposes.