CHALLENGES

Joskos needed an experienced finance director to help with Cash Flow management and Declined Profitability, The quality of Management Reporting needed improving and a company Budget created.

SOLUTIONS

We performed a quick assessment and implemented the following steps to resolve the them:

• Introduced robust controls around invoicing and Cash Flow management.

• Performed Profitability Analysis. Identified, key improvement areas, leading to an Improvement plan

• Introduced quality Management Reporting Pack highlighting key focus areas.

• Created detailed monthly Budget

OUTCOMES

1. CASH FLOW

Receivables collection days improved from 110 days to 45 days (equivalent of £2.5m).

2. EBITDA IMPROVEMENT

Insights from profitability analysis helped directors to better understand key focus areas and implement necessary improvements.

3. MANAGEMENT REPORTING

Timely and accurate management reporting improved visibility across different departments.

4. BUDGET

Detailed, zero-based budget was created in a very short timeframe and in absence of reliable data.