Our Client a prominent digital out-of-home company with over 50 billboards across the eastern seaboard; an annual turnover of AUD 6 Mil, our client sought to optimize it’s finance function’s operations. Prior to partnering with Business Avengers, their entry-level finance was handled by one in house Accounts Officer, incurring a cost of $80,000 plus oncosts, approx. $95,000.
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, representation partners were getting delayed display reports and clients were not billed 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, preparing rep partner reports, posting month end journals, and producing the 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 plan for the future and provide a greater transparency to all the stakeholders.
Where the client was spending $95,000 for one resource, the client now spends $36,000 with Business Avengers, this has given the client a savings of 62%, that is $59,000.
The outsourced role, includes processing of accounts payable, receivable, billing, payroll, bank, debit and credit card reconciliations, preparing rep partner reports, 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.
