OpenView Case Study by MW Interim Finance
OpenView Group Limited – Case Study B
Having successfully completed a year of transition during a difficult trading period the directors wished to implement the convergence of trading operations, acquired over a number of years, into a single corporate brand. This would require a significant amount of statutory, financial, systems and business re-organisation, and an external interim project director resource would be required to deliver the strategic change.
- Assessed, in conjunction with the Group Managing Director, the scope, project timescales and involvement of internal and external resources.
- Controlled and delivered the strategic project to converge the trading operations of the Client and “hive up” of the statutory subsidiary companies.
- Undertook the necessary work to ensure that all banking, accounting, company secretarial and legal obligations and compliance are successfully completed, including liaising with the external auditors and lawyers as required.
- Reviewed the accounting systems package and implemented new systems as required to support the statutory changes, working with and directing the financial controller and their team in adopting the changes to processes and management reporting.
- In conjunction with Group IT, assess the optimum additional system that would facilitate a significant improvement operational and financial reporting of projects across OpenView Group and its operating locations. Implement the chosen solution in line with the timetable for convergence.
- Ensured that whilst the project was being progressed that the financial timetables for the production of monthly and annual statutory accounts were delivered as scheduled.
- Through a detailed project plan and engagement with senior management, operational and financial staff, plus inter-action with external auditors, lawyers, HMRC, customers and suppliers the project was delivered within the timescales set.
- The implementation of an end to end business process complimented with a project accounting tool interfaced with the main financial systems, provided the business with a monitoring tool that would improve visibility of sales and gross margin by location, by project and other business criteria.
- The revised structure of the business could easily integrate any future significant expansion, either organically or by acquisition.
- Project control, compliance management, systems implementation, corporate communication
Mark Ingleson, Managing Director and shareholder of OpenView Group commented, “Following a strategic decision to converge the trading operations of OpenView, MW Interim Finance was retained, having over delivered on an initial assignment, to manage the whole project to its successful conclusion liaising with our legal and professional advisors.”