This UK multi-site manufacturing business was in the process of separating its aerospace and marine businesses. It had invested in an enterprise resource management system (ERP) but mistakes in the implementation had created multi-currency errors in it’s accounting system. It was under cashflow pressure as a result of a challenging economic environment and its financial team was struggling to cope.

The Journey

• Identified and corrected inaccurate accounting transactions.
• Advised on the correct implementation of financial modules within the ERP system.
• Audited the manufacturing and work-in-progress costings in the system.
• Designed a multi-currency cash management and forecasting model.
• Managed cashflow by hedging currency risk, implementing invoice discounting and finance leases.
• Stabilised the finance team by clarifying roles and responsibilities.
• Developed and embedded improved financial processes and procedures.
• Developed new management reporting for the Board.

The Outcome

• Improved cashflow management
• Correct ERP implementation
• Empowered finance team
• Strengthened financial management
• Better informed Board decisions