Finance Director: Colin Spencer

Overview:  Group of pre-press production companies with turnover of £20m

Issue: Each company with independent financial reporting function.  Requirement to bring all together as one operating system.

Corrective Actions:

  • Recruited an accounting team of eight people
  • Oversaw the transfer of accounting records to main group accounting system – DDS
  • Set up reporting in line with group requirements
  • Ensured that inter company balances were reconciled on a monthly basis
  • Worked closely with MDs of the various companies to review financial information
  • Worked closely with MD of the Group to investigate acquisition opportunities
Improvements since action taken:
  • A well run accounting department producing reliable financial information
  • Ability to easily accommodate acquisitions into the Group
  • Installed improved credit control procedure to reduce debtor days outstanding and increase cashflow