Would you like to download our mobile app from the App Store?Download
Our client, a world leader in non-contact precision measurement, was in a high growth phase. It was clear that current in-house financial systems would not be able to cope when orders significantly increased.
Delphine was engaged as a coach to help the business instigate systems that could evolve as the business grew. This included the accounting platform, processes to produce regular, meaningful management information, budgets, flexed forecasts, and cash flow management.
Through onsite and online meetings, with both individuals and the team, Delphine was able to uncover current challenges, time intensive operations and systems that would soon be under strain.
Through the coaching process, the current accounting system was improved with new data entry coding, reports and a bespoke bolt-on. Time saving changes were also implemented to bring together the separate management account, budget and forecasting data into one combined system. This included an integrated Profit and Loss, Balance Sheet and Cash Flow model, rolling from historics to forecasts with covenant tests included.
Efficiencies, new systems and controls, meant the business was confident the finance team could keep up with expected growth, whilst maintaining the accuracy and security of data.
The Finance Director saved considerable time and month end reporting was more efficient with a focus on data analysis rather than entry. Stakeholder needs were met and with one source of information, questions at Board meetings could be addressed swiftly. “What if” scenarios also became easier, improving financial visibility, and robust systems ensured effective financial monitoring.