A $800,000 in-house finance function, halved in nine months
Our client was spending $800,000 a year running finance in-house. Nine months later the same function cost $400,000 and ran better.
- Client
- 100% Australian owned sports nutrition business blending all natural protein powders and supplements at it's own facility in Sydney's Northern Beaches.
- Founded
- 2013
- Annual turnover
- AUD $60 Million+
- Annual cost saved
- $400K
The starting point
Ran a full in-house finance function covering accounts payable, receivables, billings, payroll and month end reporting. The annual cost of that function was $800,000.
The team was capable, but the structure was heavy. Senior people spent their weeks on transactional work, month end ran long, and reporting arrived too late to change a decision.
What we did
- Mapped every finance process, system and approval point before touching anything.
- Took over the transactional layer: AP, AR, billings, payroll and reconciliations.
- Rebuilt the month end close around a fixed calendar with named owners.
- Kept senior review and sign off in place on every deliverable.
The result
Nine months in, the same finance function cost $400,000 a year and produced tighter, faster reporting.
That is $400,000 returned to the business. Every year.
Frequently asked questions
Did the quality of reporting drop?
No. Reporting improved. Month end runs to a fixed calendar and every deliverable is reviewed and signed off before it reaches the CFO.
How long did the transition take?
The transactional handover ran over the first 60 days, with the full saving realised across nine months.