Strakers had always operated with an internal finance team, but due to succession matters the board wanted to use the opportunity to explore other solutions. As well as this, the internal reporting had become overly complicated due to the many cogs and individual elements that make the whole of Strakers a successful business.
What we did
Team CB impressed with what we could offer, and an immediate rapport was built between both teams. The directors of Strakers took the decision to outsource the entire finance function of the business, covering financial administration of the Lettings team, financial control and management of the whole business, as well as inviting Scott Sartin to attend monthly board meetings and act as the Company’s financial director.
An immediate impact was made, with our expertise allowing us to design and present management reports that were not only accurate and up-to-date, but also much more meaningful in the way they were presented both visually and verbally. This process was made much easier with our own team looking after the entire finance function of Strakers, and very soon a relationship built on trust and understanding was formed. This generated, and continues to generate a vibrant and confident board room, with the numbers being turned into business insight and continued success!
The bespoke management information designed by us extended to important Key Performance Indicators for the business, and allowed for a clear and meaningful analysis of the different areas of the business, such that the results of each branch were separately reported. This action immediately allowed the board to make informed decisions on how the business could become more successful. Sitting behind this, a global report was designed to allow the directors to better understand the business as a whole and keep better track of cash flow, allowing them to make decisions with confidence.
Helping a well established business was a great challenge, and this has led to a seamless service and complete trust in our advice and abilities, to the extent that the financial control has been migrated to Xero without question, and our very own MD has officially joined the board of Strakers as financial director of the business.
A great success story for all!