Our Client is a digital signs provider in sporting venues across Australia and New Zealand. With an annual turnover of AUD 20 Million, The Client sough to optimize its finance department’s operations to reduce costs, achieve data accuracy and enhance financial reporting.
Prior to engaging with Business Avengers, our client’s senior management were frustrated with the lack of information being provided, timeliness and accuracy. They had unhappy suppliers, partners and clients. Suppliers were not paid on time, clients were billed inaccurately, cash was not being collected on time; which affected the overall working capital. They could not understand the true and fair picture of the business and plan ahead.
The client recognized the potential benefits of outsourcing it’s finance function and partnered with Business Avengers to streamline it’s operations. The outsourcing process commenced with a through assessment of the client’s existing finance processes, systems, policies and stakeholder requirements. Over a period of 60 days, Business Avengers worked closely with the CFO and the broader business and took over the entire transactional work (accounts payable, accounts receivable, billing, payroll, bank, debit and credit card reconciliations,, posting month end journals, and producing the P&L and BS).
Today the client has 2 full time resource with Business Avengers exclusively dedicated to the client managing the clients finance function. The client is extremely happy with the service delivery and quality of the information provided. The valuable information has enabled the client to plan for the future and provide a greater transparency to all the stakeholders.
Where the client was spending $180,000 for two resources, the client now spends $72,000 with Business Avengers, this has given the client a savings of 60%, that is $108,000.
The outsourced role, includes processing of accounts payable, receivable, billing, payroll, bank, debit and credit card reconciliations,, post month end journals, assistance with audit samples and other administrative work.
Business Avengers demonstrated their expertise by successfully handling The Client's finance operations. Their close collaboration with the CFO and other teams ensured a smooth transition and adherence to the company's policies and processes.
Through its collaboration with Business Avengers, The Client successfully transformed its finance operations, realizing substantial cost savings and enhancing financial reporting capabilities.
Improved productivity and overall all stakeholders are happy.
Moreover, the improved financial reporting empowered the management team to make informed decisions for the organization’s growth and success. This case study demonstrates how partnering with Business Avengers can optimize finance functions, enabling organizations like The Client to focus on core business activities while benefiting from cost efficiencies and enhanced financial reporting.
