Strategic Analysis And Extracting Usable Data
Challenge:
The client company operated in a number of countries globally, and had bookkeepers stationed in every region covered by them. The bookkeepers carried out their basic transaction recordation tasks, but the business lacked a sense of direction and growth objectives to work for. This was because no detailed information or insights were ever extracted from the accounting data generated by the bookkeepers. Also, no strategic or in-depth analysis were carried out at policy levels to aid the financial aspect of decision making. Moreover, since there was no flow of data from its generation to its utilization, the month end tasks often faced delays, and monthly profits could not be ascertained timely at most times.
Solution:
We carefully designed and employed controllership processes and reporting mechanisms, which made sure that the bookkeepers kept in pace with the company’s requirements, and delivered accurate information. Once accounting results were being generated and reported on time, a top-tier professional was dedicated to look over the financial function, and formulate the company’s proposed course-of-action to be implemented in the longer-run. This brought the financial function of the business in-line with its operational objectives.
