Client Background

The client is a franchise of a global furniture retail chain in KSA and Bahrain

Business Problem

• The client needed support in improving their finance function which had been acting merely as a book keeper and wanted it to play a more strategic role in the organization
• The client wished to have a strong team and robust processes and systems in place to enable achieve its goal of going public

Solution Overview

• Acuvon helped reorganize the finance function organization structure
  • Deeply studied the limitations of the current structure and suggested a new group finance structure by analyzing relevant attributes
  • Carried benchmarking of the structures of finance department with that of competitors in the same industry
  • Proposed a phase-wise transition plan to the new structure
• Acuvon led the cycle time improvement of the monthly closing process
  • Conducted a detailed interview to understand the “As-Is” to identify the gap areas
  • Proposed system-level improvements and redesigned data collection procedures/templates for managing activities such as loans reconciliation
  • Recreated the management reporting pack to enable efficient reporting
• Acuvon was instrumental in streamlining the organizational budgeting exercise
  • Created a revised approach for budgeting of different revenue and cost components through a detailed drivers approach
  • Created tools and templates for enabling data collection and processing