Case study: Distribution of multiple roles in finance and IT

By on 13 May 2022

Company specifics

  • INDUSTRY: Distribution(e-commerce and wholesaling)
  • COMPANY SIZE: Medium; 800 employees
Estimated Read Time: 2 minutes

 

1. Business situation

A group of six subsidiary companies were acquired to create one large group entity. Following the acquisition, the company sought to initiate a group corporate function and a large-scale accounting transformation project across subsidiary companies.

The project would require the onboarding of multilevel and multiskilled finance functions to simplify and streamline processes.

2. The solution we offered

An expert search specialist at Robert Half engaged with the company CEO and CFO in board meetings to develop a well-defined resource plan which included securing a group-level Financial Controller as well as the group-level finance team.

The Group Financial Controller was appointed to establish efficient finance processes across fixed assets, year-end reporting, budgeting, forecasting and business intelligence. Robert Half was then able to work with stakeholders to staff further necessary finance functions including a Management Accountant, Financial Accountant and a Business Analyst. Together, these roles would conduct a process mapping review of all payment procedures and cash order processes across three subsidiary companies within the group.

Following the extensive review process, the client worked with Robert Half to source qualified resources on a contract basis for their Accounts Receivable, Accounts Payable and Payroll functions to stabilise, standardise and simplify those processes for the newly formed entity.

Robert Half’s comprehensive role review process, access to pre-vetted talent, and efficient and streamlined hiring techniques meant each finance role was filled within one week of being established.

3. Client's return on investment

The client has improved their quality control mechanisms around financial transactions and reporting, refined business processes and policies to strengthen internal controls, and ensured regulatory compliance at all times. The Financial Controller has been able to utilise the reconfigured finance team to manage all accounting operations more efficiently, including becoming highly proficient in producing accurate budgets and financial forecasts.

With a finely tuned and well-coordinated finance team under strong financial leadership, the company has experienced improved payments processes with more advanced and timely business intelligence from enhanced analytical capabilities. Within six months, each subsidiary company reported working capital improvements of around $2 million.


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