An overstaffed finance team costing $660,000 in salaries was restructured to $356,000 in 60 days, returning $304,000 to the business every year without losing control or reporting quality.
- Client
- An Australian supplement brand selling authentic, all-natural workout supplements with transparent ingredient details.
- Industry
- E-commerce
- Founded
- 2014
- Annual turnover
- AUD $60 million
- Scope
- Accounts payable and receivable, payroll, reconciliations, month-end journals, P&L and balance sheet, audit support
Our client
A $60 million business that turned to look at its own finance function
Our client entered the supplement market with a vision to redefine industry standards, offering authentic, all-natural workout supplements with transparent ingredient details. That approach positioned them as a leader in the category.
At AUD $60 million in annual turnover, they decided to scrutinise their finance operations. The aim was accuracy, standardised processes, better information flow and embedded cost savings.
The challenges
What was breaking before the finance team
- ▪Senior management frustrated by the inadequate flow of finance information: P&L, balance sheet, cash inflows and outflows, payroll.
- ▪No timely reports for key financial data, which blocked any projection of future business goals.
- ▪Delays in the month-end close, holding up the whole financial cycle.
- ▪An under-managed workforce creating unnecessary workload for the finance and management teams.
- ▪The absence of reliable data obscured the true financial health of the business.
- ▪Planning and forecasting the allocation of funds was impossible against inaccurate reports.
The solution
Sixty days, alongside the CFO
We analysed the existing finance processes, systems, policies and stakeholder requirements. Within 60 days we worked closely with the CFO and the team to take over all transactional work, from bookkeeping through to posting month-end journals and producing the P&L and balance sheet.
The finance team, before and after
Salary cost excluding the CFO
Before
- Financial Controller
- Senior Accountant
- Cost Accountant
- Assistant Accountant
- Junior Bookkeeper
$660K
After
- Part-time CFO Advisory
- Financial Accountant
- FP&A Analyst
- Accounts Officer, provided by the finance team
$356K
The result
A leaner structure, the same control
A 46% reduction in cost, saving the client $304,000 annually, achieved through role optimisation and outsourcing rather than by cutting the work.
One dedicated resource now handles accounts payable, payroll, bank, debit and credit card reconciliations, month-end journals, audit sample support and related administration.
Annual finance salary cost
$660,000
The struck-through portion returns to the business every year.
“Partnering with the finance team was transformative for our operations. The streamlined processes and cost savings gave us actionable insights, enabling smarter decisions and greater customer impact.”
