Fast growing pharmaceutical distributor...

...Enhanced financial analytical capabilities

The Challenge

This successful business experienced threefold sales growth within two years, has quality clients and has in place effective and visionary leadership, good accounting and logistical management. The CEO saw the need for additional depth to supplement its financial analytical capabilities to ensure better control and confidence over future performance and profitability.

Our Contribution

Provide the CEO access to an additional resource for deeper business performance analysis; developing business plans, budgets, cash and a continuous re-forecasting process that took into account changing circumstances.

Results

Enhanced ongoing cash flow and profitability forecasting has allowed resource planning and forecasting of impacts of investment decisions and actions.

Valuable analysis resulted in: optimum pricing of an acquisition and its successful integration; and cash implications analysis of a successful and significant investment in larger facilities.

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Family owned multi-business...

...Now with segment reporting, planning and control

The Challenge

This successful and growing business had two distinct businesses: manufacturing & labour hire. It did not have sufficiently developed accounting controls, processes and procedures and staff in place to produce accurate monthly and annual reports that show how the company let alone each of the two separate businesses were performing.

The accounting software was not being used to its full potential. The balance sheet did not correctly reflect current state of financial position. The accounts were not set up in a way that would allow separate performance reporting and management of each of the two businesses.

Our Contribution

The owners of the business recognised this gap in their accounting and financial management skill-set and asked us to set the foundation for improved financial performance reporting.

We immediately put in place the right people and a proper process and system recording all transactions in a way that allowed the production of management reports with visual graphs, showing the performance of each business segment monthly to monitor job profitability on an ongoing basis.

Results

The business is now able to plan and monitor future business growth with budgets and forecasts for profitability, cash flow and the contribution of each business segment and compare each month’s performance and contribution to prior periods and plans. Helped establish awareness of trends and take control of the business development.

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New generation of family food importing business..

...renewed energy & professionalism

The Challenge

This family importing, marketing and distribution business has been trading for nearly twenty years as a family run business.

As the next generation took over management and running of the business the new visionary General Manager was ready to run the business on a more professional basis. He wanted to take the financial systems and controls, as well as all marketing and operations, to the next level.

The accounting system had been geared to serve the needs of external tax accountants to produce and comply with annual financial accounts and income tax returns for the business as a whole. That was good as far as it went however it did not serve the needs of managing the business (work on the business) on an ongoing real time basis. No timely information or reporting was available on the performance of the business, its various products and the markets it served.

With the lack of reliable financial information pricing and business decisions were not an easy and informed task.

Our Contribution

We partnered with the General Manager and sorted the business into its various activities. By adjusting the accounting system we were for the first time able to measure, plan and monitor the performance and contribution of each category. We also set up an effective cash management tool to forecast and manage the cash of this highly seasonal business.

Results

Management is now able to plan and track the performance of the business on a monthly basis through monthly management reports, including 'Snapshot' reports that show how: revenue, margins, the various operating expense categories, foreign exchange fluctuations and profitability are contributing and performing compared to prior year, forecasts and other industry benchmarks.

The enhanced system allows effective financial control, certainty and predictability. Allows the management to take action where it is needed for business growth, improve profitability and cash flow.

Importantly, management is able to develop strategies, business plans and prepare dynamic forecasts, manage cash flow and working capital requirements to achieve those plans.

We are now able to forecast when financing will be required in advance to enable: the quadruple business growth; improve profitability; investment in additional capital and staff; and be better able to negotiate with financiers and provide them higher levels of comfort and confidence in the business management and its controls.

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