SECTOR: Clinical waste disposal CONCERN: Performance BACKGROUND: A non-core subsidiary was reporting losses and absorbing a disproportionate amount of senior management time. CHALLENGE: The division had several issues revolving around operational losses and the level of customer service. Senior management was anxious to rectify the situation before reputations were damaged, whilst their attention needed to…
Background: The business is a family run precision engineering company with a subsidiary in the Czech Republic. The previous Finance Director was dismissed following a number of inaccuracies in the reported numbers to the board; the company was also very dependent on one customer and who was suffering from quality /delivery problems. Challenges: The purpose…
SECTOR: Membership Organisation; not-for-profit; £20m turnover CONCERN: The organisation had a business plan, but performance was not monitored, particularly when it was upgrading its premises. All managers were struggling to understand the management accounts and more importantly, monitor their performance in line with the business plan. BACKGROUND: A membership organisation, steeped in history and retaining…
SECTOR Manufacturing. A business with £12M turnover. BRIEF Following an initial review carried out by EFM and further internal analysis, decision was made to accelerate the appointment of a full time FD, with potential impact on the current Finance Manager. EFM were requested to provide project support in preparing the way for the new FD….
The week of a finance director… an occasional series of diary entries from the EFM associates network. EFM Associates are portfolio finance directors and finance controllers who deliver finance expertise to several business clients on a part-time basis. The article below reveals a portfolio career in the week of an EFM associate. Monday My week…
SECTOR IT , Networking, Data Communications CONCERN Business Continuity / Disaster Recover BACKGROUND Dacon Plc is a UK based company that provides a range of contact centre and communications solutions. In December 2005, a build-up of fumes at the Buncefield Oil Depot in Hemel Hempstead caused a catastrophic explosion. Thankfully no deaths resulted, but 43…
We have been involved with a group of companies which derives its income solely from a VAT exempt source. Exempt incomes include, insurance, betting and gambling, financial services, undertakers, health and may include land transactions, educational and charitable sources. Organisations however, which are not normally subject to VAT on their income cannot simply assume that…
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