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The task was to re-build fully compliant payroll records for a period of 2½ years, retrospectively. All data available were cash payments to the various staff members of a medium size scaffolding company, an industry with high staff fluctuation. Deadlines were to be met to avoid foreclosure.
The task was completed in good time and to the full satisfaction of the employer, and all institutions involved.
The family owned and operated small business lost their leader due to terminal illness. Professional support and careful mentoring helped the remaining business partner (who was not trained in any financial or fiscal matters) to succeed. This partner would carry on for several years before winding down business and entering retirement with prosperous financial security.
The local Sports Club was in financial dire straits due to mismanagement. Previous years’ performances were analysed whilst volunteering on-going professional financial management. The club recovered within 2 years, with a consistently increasing number of members who would provide the funding for the ongoing operational costs. Cash funds became available for investment opportunities, and to pick up and follow the original spirit of the club.
The assets of a large size company consists of specifically chosen, developed and tenanted properties in New Zealand and Australia. Due to several system changes over a period of ten years, there was no appropriate database or document available that would report on historic data for each of the 26 properties, compliant with New Zealand and Australian fiscal regulations. An appropriate asset register was set up, and further developed to accommodate Management Accounting related Capex for reporting purposes (Management and Tax), individually and consolidated
The post 9/11 market collapse in 2001 caused the small company to lose 90% each of two of their three business divisions (Technical Services, Retail, Hospitality). Andrea's financial analysis of the department performances, her input in a crucial business re-structure and careful operational management lead to survival and business success.
During the change-over of CEO, this organization’s employees were for a short time left with skeleton supervision. The temporary position as interim Manager provided professional liaison with the outgoing CEO and the Board about internal issues, and kept the professional processes going with marginal interruptions.
This medium size enterprise was vast growing, leading to the appointment of a senior management team, and forcing system changes.
Andrea's role encompassed:
• To create the plan for restructure of the Finance Department
• The development and implementation of various system tools to streamline communication and information flow across the company
• Design and implement Debtor reports and improvements in collection procedure to reduce average DSO’s
• Develop an extremely complex reconciliation task, which directly affected the company’s entitlement to trading discounts based on forecasting accuracy, product quality and quantity. The data required involved various internal departments and the supplier themselves, reconciling over 2000 items each month
As a result, staff where more productive and less stressed, saving the company ongoing costs due to inefficient procedures and time pressure.
The stakeholders of this enterprise were predominantly focused on the increase of sales; they completely ignored the actual financial and administrative management. The task that incurred through this major fault was, to correct and complete the financial records for the past 18 months, prepare availability of reports, and to establish a complete and proper Finance department.
As a team of four, we reconstructed and reconciled the Creditor Ledger through bank records and close liaison with suppliers. Reconciliations were undertaken for bank accounts and various credit cards. Taylor-made business management tools were developed and implemented for transparency to senior management, and to ensure a connection to all other departments for communication. The goal was achieved in less than 12 weeks
I really appreciated the professionalism and speed at which you stepped in and managed our charity payments, cashflow and salaries whilst we were without a CEO.
It gave me confidence knowing I had someone who was on top of the cashflow and showed concern where need be.
I wish you all the best for the future and again, thank you for helping us out during our time of need.
Advisory Group Chair – The First Tee New Zealand
Andrea Blakeley (BAcc&Com, BApplMgt) is the owner of this young enterprise.
Andrea was brought up in a two generations family business environment with the exposure to self-driven high responsibility all her life. She spent ten years of her professional career in accounting firms in Hamburg / Germany during tertiary training and internship with the aim to achieve the German equivalent to Chartered Accountant. Ultimately Andrea found her passion in the commercial side of business. She set up her first own enterprise with the outlook of supporting small and medium sized businesses in their accounting and administrative departments until her immigration to New Zealand in 1994.
Together with her husband, Andrea built, managed and operated their family business in Northland for ten years. Today they live in Nelson at the top of the South Island and Andrea is managing and operating her now 6-year-young enterprise.
“I love to support business as a living-being, watch it grow. (After all it’s the entire team of human beings making it happen). But it needs to grow on solid ground, if it is to survive long-term. That ground is not just the trade-professional skill alone; it also depends on how the other sectors of any business are mastered. Never under estimate the power of administration.”