Ref - Finance Director – Ref 3035

Finance Director

ACA qualified and experienced Finance Director with a strong background in SASS/Ecommerce/SME/Manufacturing and Engineering. Seeking a new opportunity in Nottinghamshire, Lincolnshire, or Leicestershire.    
  • To improve financial and operational systems
  • To manage day-to-day operations to free up founder
  • To build an accelerated growth plan and secure funding
  • ERP System – Implemented XERO into the business to bring in-house accounting data (from the outsourced accountant’s system)
  • Inventory & Ordering System – put in place new system to consolidate sales order management across all channels to create an online inventory management system, and to oversee postage for all orders in one place.  Implemented robust processes which have reduced agency labour cost during peak times by 25%
  • HR & Safety System – shortly after starting, implemented an online system to manage holidays, absences, timesheets, and safety observations
  • Financial Reporting Pack & Forecasting – Introduced monthly reporting pack that is KPI led to business. The pack is used to present the performance of the business to the board. Alongside this built and maintain monthly forecasts that look out the next two years to ensure the business has insight into future opportunities & risks
  • Reduced Month-end Reporting timelines – Reduced month-end reporting timeframes down from 20 days to 7 days.
  • Cashflow management –Cash burn when I started & the business had a runway of 4 months. Built cashflow forecasts to show board current risks and identified a handful of initiatives to reduce cash burn; these covered contract renegotiations and cost cuts as well as exploring trade sale opportunities. Supported the business through these initiatives

 

  • Report to CEO & responsible for Group Finance & IT
  • Preparation and presentation of group management accounts, quarterly forecasts, and budgets
  • Ensure Group IT strategy is executed and evolves in line with business considering particularly cyber security requirements
  • Manage a team of 10 employees across the group including regional controllers & IT manager
  • Working with teams across the group to ensure financial results are delivered inline plan, and that employees correctly interpret financial information and can evaluate the impact of their actions upon them
  • ERP System Implementation: Implemented a new ERP system for the group after starting. Acquired new modules or third party applications to ensure group is benefiting from modern tools available to reduce admin burden and remain efficient – including automated AP & expenses system, stock system, HR Module and Data analytics tool which provides sales & operations teams with up to date metrics of the performance of the business
  • Performance & KPI Reporting: Built the Performance reports that the business and board use to monitor and review performance of the business, evolved and automated these reports as the business has grown
  • Financial Strategy 5 year plan : Developed five year strategic plan working with Board.  Business has used plan to shape year on year objectives, budgets & hiring decisions, business has grown annually by 40%.
  • Secured funding for business: Secured $10m of funding to support growth plans of the group, and $2.5m of funding to ensure sufficient liquidity in group for working capital requirements
  • New Overseas Entity– Formed a legal entity in Australia and ensured suppliers were in place to outsource finance & legal requirements
  • Built Global Finance & IT Team – Hired four regional financial controllers in UK, USA, India & Korea to in-house finance. Hired an IT Manager. Team culture is very collaborative, cohesive and training and development programs in place to ensure they continue to be strong
  • Supported Majority Shareholder as JV with full acquisition of group– executed three year project of aligning systems and controls in Group in preparation for full acquisition & prepared and presented financial documentation on value of business to supporting minority shareholder exit
  • Improved the profitability of business lines: Fully costing up activities , walking teams through the costings and methodology to ensure alignment and buy in, and then using these costings to support business identify methods for improving profitability and selling products with an awareness of costs
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