A DOOH operator running 50+ billboards cut finance operating cost from $95,000 to $36,000 a year, while fixing late supplier payments and slow invoicing.
- Client
- A leading digital out of home advertising business operating over 50 billboards across the eastern seaboard of Australia.
- Industry
- Outdoor media and advertising
- Founded
- 2017
- Annual turnover
- AUD $6 million
- Scope
- Accounts payable and receivable, billing, payroll, reconciliations, partner reporting, month-end close
Our client
One accounts officer, carrying the whole finance function
A leading digital out of home advertising company operating over 50 billboards across the eastern seaboard of Australia.
Entry-level finance was handled by a single in-house accounts officer at $80,000 plus on-costs, roughly $95,000 a year.
The challenges
What was breaking before the finance team
- ▪Inadequate financial information: reports were inaccurate, untimely and incomplete.
- ▪Delayed supplier payments that strained business relationships.
- ▪Revenue collection inefficiencies caused by late invoicing.
- ▪Representation partners receiving delayed display reports.
- ▪Working capital pressure created by inefficient processes.
- ▪No financial visibility for management to make data-driven decisions.
The solution
Sixty days, alongside the CFO
We started with a full assessment of existing processes, systems, policies and stakeholder requirements.
Over 60 days we worked alongside the CFO and the wider business, and took over the entire transactional workload.
- ▪Accounts payable and accounts receivable
- ▪Billing and payroll processing
- ▪Bank, debit and credit card reconciliations
- ▪Representation partner reporting
- ▪Month-end journal posting
- ▪Preparation of the P&L and balance sheet
The result
A 62% reduction, and money moving on time
Finance operating costs fell from AUD $95,000 to AUD $36,000 a year, a 62% reduction and a saving of $59,000 annually.
Today one full-time resource is dedicated to their finance function. Suppliers are paid on time, invoicing is faster, and reporting is accurate enough to plan against.
Annual finance operating cost
AUD $95,000
The struck-through portion is the cost that no longer exists. It returns to the business every year.
