Manufacturing and Support Services Case Study
Company profile:
Manufacturing and support services group;
Turnover: £70m
The problem:
Newly-assembled international group (including UK, Germany, USA) in period of dynamic growth not pulling together.
The issues:
- No group finance function or reporting structures
- No group control of cash flows
- No corporate governance compliance methodology
- Finance teams working to different agendas
The actions:
- Creation of group finance function
- Rationalisation of local finance teams
- Implementation of group reporting structure
- Introduction of embedded systems for ensuring compliance with best corporate governance practice
- Costs reviewed across group to ensure best practice followed at all locations.
The results:
- Affairs of group made transparent to Board across all locations
- Group able to expand as a single entity
- Improved cash control enabled further significant expansion to be made.
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