As Commercial Finance Director of an SME I was responsible for creating and implementing a finance & IT function, implementing systems, recruiting and training staff. I took the company through to its successful sale in September 2014.
- Creation of accounting policies and procedures.
- Creation of chart of accounts.
- Implementation of Sage Accounts 50.
- Implementation of an ERP system for an SME, (Mamut).
- Creation and rollout of a purchasing policy to consolidate all suppliers and agreement of 60 day terms. In parallel, credit was restricted to customers, ensuring 90% of customers paid in advance, resulting in extremely positive cash flows.
- Design and implementation of an ecommerce platform with streamlined integration to the accounting system.
- Contract management for key customers and suppliers
- Valuation of company based upon EBITDA and industry multiples.
- Negotiation and successful sale of business on time and within the exit strategy plan.
WHAT WENT WELL
- Successful implementation of stable accounting and reporting function with defined processes and a well trained staff.
- Streamlined chart of accounts and seamless ecommerce integration resulting in fast-close and rapid month-end reporting.
- The business environment can have a significant impact on businesses. During periods of recession customers can suffer financial distress and be unable to pay debt. Careful and continuous risk assessment needs to be carried out to avoid collection issues.
- Search Engine Optimisation is a continuous exercise. If Google changes its search algorithm from one day to the next then this can have significant impact on search results.