Restructuring Financial Operations for Retail Group
"We helped a leading regional retail group restructure their accounting department, migrate to cloud-based ERP, and cut operational losses."
1. The Challenge
The client had decentralized accounting records across 15 store outlets. This resulted in delayed monthly close (taking 25 days), inventory leakages, and inaccurate tax filings that attracted high audit penalties.
2. Strategic Approach & Methodologies
Phase 1: Operations Diagnostic
Conducted a detailed audit of accounting cycles and identified key inventory leakage points.
Phase 2: Systems Consolidation
Integrated cloud-based ERP across all outlets, centralizing data in real time.
Phase 3: Standardized SOPs
Trained staff on centralized cash handling, reconciliations, and inventory checkouts.
3. Deployed Solutions
We deployed a Virtual CFO package to rebuild their financial controls, centralized general ledger operations on NetSuite, and set up a centralized treasury hub.
“ "Philfred Business Solutions completely transformed how we look at our numbers. We now have absolute clarity on margins daily."
Measurable Results
Services Deployed
Advisory Team
Kwame Boateng, FCA
Head of Accounting & Finance
Philip Fredrick
Managing Partner & Chief Strategist
Facing a similar operational challenge?
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