on day 1, we read, discussed and understood The New Craftsmen’s business plan. we also set clear objectives and a vision for finance to align the finance function to the business strategy and their needs.
we combined the role of management control and strategic insight and began attending and participating in monthly board meeting where we could present and provide instant responses. we also facilitated a 0.5 day strategy session for the business to gain clarity on their strategic OKRs (objectives & key results).
we targeted key control improvements such as clearing up old reconciling items and transparency around supplier payments, put in place a clear close calendar and new ways of working. we reengineered and optimised processes and implemented robotic processing automation to gain further efficiencies. we designed, developed and deployed strategic reporting aligned to the business strategy and built a bespoke 3-year integrated model. overall, we embedded finance into the business.
we developed integrations from the core applications (CIN7 & Xero) in place into our own reporting layer so we could provide real-time reporting on financial and operational data; we mashed this data for daily KPI reporting; including average transaction value, conversion rates, traffic, sales etc. – all segmented by categories. we also designed, developed and deployed automation through our use of robotics process automation.