SP Health Success Story

Wilson & Assoc was engaged as outsourced CFO to support the CEO and worked with the leadership team to turn around profitability and navigate growth between Jan 2015 and Novemember 2017.

Prior to this time the finance function had been fully outsourced.

Wilson & Assoc’s mandate was to

• establish an in-house full finance function with full financial planning, reporting and analytical capabilities
• provide financial acumen and rigour to all commercial and strategic decisions
• provide leadership to the finance team.

• Improve cash flow. Maintain high level of trust and confidence with suppliers, during short cash-tight periods.
• First year of engagement (F17) – reduce operating loss by 2/3
• Second year (F18) turn-around to profit
• Third year (F19) poised for XX% growth with new revenues in licensing and sponshorship
• Increase R&D claim by 45%. Cut R&D consultant spend.
• Negotiate 35% savings on Hubspot marketing management system
• Save $XK from absorbing HR and legal function
• Establish internal accounting function. Repatriate outsourced transaction processing
• Hire best-fit junior accountant and develop to senior accountant within 12 months to assume full accounting responsibilities
• Robust finance platform, controls and processes.
• Rigourous budget – cascaded from long range vision to annual achieveable targets with a stretch. A participative process where the targets are self-set by the functional heads and therefore has full ownership and accountability by all business functions, with direct links to key performance indicators (KPI’s), both financial and operational, including online inbounds.
• Weekly dashboard that captures financial and operational KPI’s. Provide predictive outcomes that facilitated rigourous discussions amongst the leadership team of strategies and tacticals for new business models and new revenue sources.
• Insightful performance analytics that provided factual bases for key decisions
• Pragmatic rolling and quarterly Forecast that enables the leadership team to preamp market trends and changes, to adapt strategies and tactics and prioritise gap-closing actions.
• Robust financial modelling and simulations for all commercial projects to ensure optimum contract pricing and profitability, and project viability and sustainability
• Holistic monthly management pack that encompasses the above
• Comprehensive quarterly Board pack that includes a presentation by every business functions with updates of key initiatives and priorities
• Modernise accounting system for processing efficiency, reporting functionalities and cloud-integration.