Our Client has been in operation since 2009, teaching adults with disabilities and others from marginalised communities film studies. They use filmmaking and the film industry to change community attitudes globally around the rights and contribution to society of and by people with disability.
With an annual turnover of AUD 5 Mil, our client sought to optimize it’s finance function’s operations to achieve accuracy, standardise processes, improve data quality and cost savings.
Our clients has been on board for >12 months now and is a happy space.
Prior to engaging with Business Avengers, our client had a part time resource on a pro rata basis of $130,000 located in Sydney. The client and senior management was frustrated with the lack of information being provided, timeliness and accuracy. They could not understand the true and fair picture of the business and plan ahead.
The client recognised 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 thorough assessment of the client’s existing finance processes, systems, policies and stakeholders 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, payroll, bank, debit and credit card reconciliations, posting month end journals, and producing P&L and BS).
Today the client has 1 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 put in a 1, 3 and 5 year business plan in place.
Where the client was spending $78,000 for a part time resource, the client now has a full time resource for $36,000 with Business Avengers, this has given the client a savings of 54%, that is $42,000.
The outsourced role, includes processing of accounts payable, receivable, 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 company’s growth and success. This case study demonstrates how partnering with Business Avengers can optimize finance functions, enabling companies like The Client to focus on core business activities while benefiting from cost efficiencies and enhanced financial management.
