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Supplementing and upskilling your team during significant change - news article image

Supplementing and upskilling your team during significant change

21 Jun 2022

2 minute read

When we refer to ‘outsourcing’ a finance function, the meaning is construed in multiple ways depending on the audience and pre-conceptions. It is useful therefore to outline some of the ways in which the outsourcing department can assist in ‘special projects’ which fall outside of the traditional bookkeeping/data processing/returns.

As an example, we were recently informed by a client that their head of finance would be leaving the firm and they required our assistance to continue covering large parts of the role. This included complex monthly income reconciliations and preparing statements for their suppliers. Far from simple tasks, we were required to learn their series of intricate, interlinking spreadsheets and how they combine to prepare monthly reconciliations which ultimately form the basis of how they are billed by suppliers.

As the client decided against hiring a replacement, I needed to seamlessly slide into the role from the outset and this meant that each logistical stage as well as reasoning behind each the processes needed to be understood. Ensuring minimal disruption to their day-to-day activities and maintaining accuracy of data to avoid over/under payment issues have been key to the longer-term success of this assignment. We also now provide a reporting pack for their board meetings and this has helped me personally to go into detail on their current situation and to help open further discussions around strategy. 

We are now into our fifth month of completing these reconciliations and the project is running well. Whilst the client has been through a significant change in senior management, they have been able to rely on us to help ensure it was a smooth transition. 

Victoria Silberbauer, Co-Founder and COO from Axate Systems Limited comments

 “George has been absolutely amazing, he has quickly got under the skin of the business and we have a great rhythm of working together. He looks ahead and ensures that the reporting we need for the publishers and for our Board meetings is with us ahead of schedule. We also benefit from the efficient, well managed, reliable payroll service provided by Katie.”

Supplementing and upskilling your team during significant change - news article image

Author:

George Tattersall

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