Finance Health Check
Objectives & Project Background
Our client is a catalogue retailer, specialising in building supplies. Following an acquisition and subsequent investment in retail outlets, the firm was growing at a rate of 30% per annum, but the company was keen that their finance function did not grow at the same rate.
- Our client operated a number of processes with high levels of manual intervention, meaning that their finance function was not sufficiently scalable to meet their growth requirements.
- Parkwell were engaged to document current processes and identify areas for improvement.
- Parkwell first reviewed and documented ‘as is’ process and identified the issues and areas for improvement.
- Next, we prepared ‘to be’ processes, reflecting the implementation of the recommendations.
- We worked with the client to agree which recommendations would be implemented.
- Once agreed, we assisted in the implementation of the recommendations.
- A set of recommendations for improvement, ranked in accordance with their return on investment.
A significant reduction in the manual finance processes allowed processes to be scaled without significant additional staff and allowed the staff to focus on value-adding activities.