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Ref - Fractional Finance Director – Ref 6219

Fractional Finance Director

ACCA qualified Finance Director with over 25 years’ experience in Manufacturing and Finance. Experienced in leading organisations and teams to facilitate and implement both ambitious growth and business turnaround/change programmes. Experience of leading cross functional strategic, commercial and operational decision-making in fast paced manufacturing environments (including small owner-managed, PE backed/HNWI and multi-national FMCG organisations) delivering business change and operational improvements including ERP implementations. Previous experience includes being part of a leadership team involved in the sale of a distressed Private Equity backed organisation to a HNWI and in previous recent role a further sale to Private Equity as part of a corporate carve out.

Redesigned MI Pack to further analyse business’ profitability by sku, customer and segment whilst also automating reporting to allow a full pack to be produced within one day
Developed ‘at a glance’ KPI’ dashboards to measure performance on a weekly and monthly basis against strategic objectives and identify if corrective action is required in all roles
Developed a 5-year business plan to grow business from £25m to £40m, through maximising existing customer opportunities, entering new markets and utilising existing asset base more effectively. This included planning and executing a strategy to consolidate the business from four UK sites to two, involving the redundancies of over 130 staff and similar recruitment at the remaining two locations. Through regular customer engagement and communication, the site consolidation concluded without the loss of any customers (except those that the business chose to exit).
Implemented price rises of on average 8% with some >60% through identifying and leveraging business value proposition
Revised organisation’s margin maximisation, through strategic pricing; leveraging customer knowledge and market information – resulting in an average 15% increase in margins
Led a procurement cost saving exercise which delivered £140,000 of cost savings in its first year across the business and improved service levels (e.g. VMI, free next day delivery, etc.)
Project managed a cross functional operation team to deliver 50% reduction in working capital. Significantly reduced stocks (including a £400k release of obsolete stock provision), debtors (though assertive credit control, and reducing credit terms), and creditors (via renegotiating payment terms).
Produced all financial information for the sale of organisations including modelling future scenarios and the impact of capex investments
Implemented an automated accounts payable invoice processing tool and reduced headcount by 1 FTE
Negotiated with banks to restructure debt (both repayment and term) and PE owners to provide a further injections of funds
Performed a strategic review of the organisation’s portfolio of products and services resulting in ceasing production of certain products due to either strategic fit or underlying profitability
Worked with Director to strategically evaluate the feasibility of recommissioning a production line to generate a further revenue stream. Once implemented this delivered £50k incremental net margin.
Project managed organisation’s implementation of a new ERP system from end-to end including scoping, software selection, training, parallel runs and go-live
Reviewed existing contracts and following identification of historical errors in revenue recognition and cost apportionment made EBITDA adjustments >£2m. Following this implemented an ongoing review into all aspects of compliance/taxation reporting after finding many cases of misstatement of taxes (both adverse and favourable impact).

Full P&L responsibility for five legal entities and consolidation
Commercial responsibility of business strategy and budgeting to ensure teams deliver their objectives and budgeted performance
Ensuring the Group operates in a tax efficient manner across its various jurisdictions
Month end reporting, budgeting and reforecasting for all entities and overall group reporting
All legal and regulatory submissions for the Group
Management of finance staff and shared management of sales staff

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