Following a period of rapid growth, the business had outgrown its finance systems, processes and controls. The business was approaching the audit threshold and quarterly corporation tax payments, so cash control and forecasting was becoming essential.
The MD required more experienced commercial and financial support to help drive growth and assess future options while ensuring that customer focus remained at the heart of the business.
Following an introduction from a strategy consultant who had already been working with the company, we met with the MD so that they could outline their need and discuss how a senior Finance Director would restore confidence, professionalise the finance function and contribute to commercial issues and challenges with regard to growth.
Fundamentally, the Finance Director needed to introduce:
• insightful management reporting and analysis of performance to enable the MD to make
strategic and commercial decisions based on meaningful information
• stronger financial controls
• more efficient financial processes
In addition, the role would involve:
• professionalising the finance function in line with the rapid growth of the business, and ensure
it was ready for an audit.
• restoring confidence and recruiting additional resources where appropriate.
• introducing robust cash forecasts, both short and longer term.
• contributing to commercial issues and challenges with regard to growth, new tenders, pricing
and strategy.
• maximising the long-term value of the business.
The Engagement
Within a week of the meeting, Numitas introduced a senior FD who was an excellent match for the client’s needs and culture due to:
• possessing strong fundamental accounting skills to ensure smooth running of the day to day activities, that all compliance and regulations were met, and the accounts were true and fair.
• being comfortable getting their ‘sleeves rolled up’ and understanding the detail as well as the big picture.
• having a demonstrable track record of helping businesses achieve profitable growth.
• being experienced in maximising shareholder wealth.
The Finance Director was engaged on a part time basis to enable the client to benefit from the seniority of the FD’s experience at a fraction of the cost of a full time hire.
Outcomes
Within the first six months, the Numitas Finance Director had delivered against the initial requirements of the strategic high-level brief. They provided added value in terms of identifying additional areas for improvement and implementing positive solutions, such as:
• delivering a significant improvement in the procurement process and financial controls.
• introducing a more efficient operating system to reduce cost to the business.
• proposing and assisting with the selection of an improved project management system and its
integration with the financial management system to provide information on project
profitability that wasn’t previously available.
• proposing and systemising additional resources in the finance team.
• working with strategic advisors and NEDs as well as the senior management team to help
prepare the business for growth.
The changes were implemented so as to ensure that customer focus remained a key aspect of the business and was enhanced rather than disrupted.
The key benefit to working with a Numitas Finance Director is that their experience and expertise means they can very quickly fit into the management team, identify the known and unknown priorities and deliver commercial outputs within a matter of days.
Scintacor (formerly Applied Scintillation Technologies) is a successful British company and the world leader in phosphor and scintillation technology, which allows the conversion of different radiations into light for imaging and detection. The growing demand for their expertise meant that Scintacor decided it was time to look for further investment into the business, which is where Numitas was able to help.
GeoSpock is an extreme-scale spatial big data platform company that provides analytics, visualisation and builds insight for four main verticals: location based mobile advertising, telecommunications, connected cars, and smart cities.
AIM-listed Ubisense was founded in 2002 and is a high growth, Cambridge-based technology firm. Its highly specialist expertise serves 500 customers in 50 countries with enterprise location intelligence products and solutions that help them with their high value manufacturing operations.
For example, its work with automotive firms BMW and Aston Martin and with aerospace giant Airbus, enables specific components and tooling to be located and supplied automatically to a manufacturing location, using state of the art, ultra-wideband radio technology.
Our client is a SaaS business delivering real time data and information to the NHS and helping to manage patient footfall through its mobile app. The company currently turns over £2m and employs some 35 people onshore UK with an outsourced development centre in India.
i-graduate surveys international student opinion about different universities, then tracks and benchmarks the data, delivering comparative insight to the education sector worldwide, in order to help institutions deliver a world class student experience to enhance competitive advantage.
Scintacor (formerly Applied Scintillation Technologies) is a successful British company and the world leader in phosphor and scintillation technology, which allows the conversion of different radiations into light for imaging and detection. The growing demand for their expertise meant that Scintacor decided it was time to look for further investment into the business, which is where Numitas was able to help.
GeoSpock is an extreme-scale spatial big data platform company that provides analytics, visualisation and builds insight for four main verticals: location based mobile advertising, telecommunications, connected cars, and smart cities.
AIM-listed Ubisense was founded in 2002 and is a high growth, Cambridge-based technology firm. Its highly specialist expertise serves 500 customers in 50 countries with enterprise location intelligence products and solutions that help them with their high value manufacturing operations.
For example, its work with automotive firms BMW and Aston Martin and with aerospace giant Airbus, enables specific components and tooling to be located and supplied automatically to a manufacturing location, using state of the art, ultra-wideband radio technology.
Our client is a SaaS business delivering real time data and information to the NHS and helping to manage patient footfall through its mobile app. The company currently turns over £2m and employs some 35 people onshore UK with an outsourced development centre in India.
i-graduate surveys international student opinion about different universities, then tracks and benchmarks the data, delivering comparative insight to the education sector worldwide, in order to help institutions deliver a world class student experience to enhance competitive advantage.
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
