Management Assistance
Management Assistance
Irrespective of whether your Company is undergoing or has the plan to pursue an expansion, adopting restructuring or downsizing initiatives, or even changing the course of direction in alignment with external economic factors, the existing management team may already be overloaded with daily operations which could potentially lead to overlooking important compliance and specific needs of executing the key initiatives, or the management may lack complete resources in handling the various aspects of the key initiatives. The mismanagement and insufficient resources support could potentially interfere with a Company’s business model, undermining the value proposition that attracts customers and generates profits. The result could be catastrophic, far beyond just the failure to execute the key initiatives. In some extreme cases, the ongoing continuity of the Company may be questionable.
This is where the appointment of a professional manager can assist. The benefits of engaging a professional manager encompass the following:
1. For new initiatives of changing the course of direction, adopting new business expansion or new products or services, or even outsourcing certain core functions of the Company, it is crucial to keep the fixed costs down until the new initiatives have taken shape, and the Company can engage its team to fill in the roles;
2. Should the Company undergo a downsizing or restructuring plan, it is even more so to engage a professional business partner who could assist with not only taking over the existing roles of the departed management members of the Company without incurring long-term fixed costs but also a business partner who could share and provide proper guidance of planning and executing the plan described above;
3. In the case of conflict within departments, management members, or even among the Board members, in which an independent party is required to intervene until the conflict is resolved, a professional manager can customize and take the roles without causing any operational disruption due to conflicts; and
4. Having a professional manager take over a role, from an ad hoc role with high technical requirements to simple ongoing administrative tasks, could free the existing management team to continue doing what they do best, minimizing any potential business and operational disruptions.
There are many other benefits for a Company associated with engaging a professional manager but the key to summarizing the relevant benefits is for the Company to meet its business needs without incurring long-term fixed costs.
The engagement of our professional manager can be structured on both interim and permanent terms. The company has full control over the terms of the engagement. Regardless of the term of engagement, upon completion of the assigned tasks, or our services may no longer be required, we will work with you on the succession plan by providing training to a designated team of your Company. This ensures a long-term cost saving.
Our Team
Our directors, professional members, and allies are former CFOs and leading persons of publicly listed companies, multinational corporations, and private entities of different industries. We are also supported by professionals in other areas such as lawyers, chartered secretaries, and human resources experts. We have years of experience in assisting companies to ensure the smooth maintenance of existing operations while the Company executes the new initiatives.
Financial Planning and Analysis
Specifically, our professional manager teams could assist with providing the Company with a wide range of support which we will customize according to the specific needs of the Company. These include but are not limited to general support such as roles in association with Financial Planning and Analysis (“FP&A”) support for applications in major decisions such as market strategy, budgeting, credit and collection, payroll, inventory, cost allocation, Pricing, Quality decisions, etc. The FP&A support services comprise:
> Business Planning, Budgeting, Forecasting, Variance Analysis, Financial Modelling, and Sensitivity Analysis – worked closely with key stakeholders and departmental/ Business Unit heads in developing annual business planning, budget, and quarterly forecast. Processes involve discussing with key stakeholders key initiatives, estimating the investment scale for each of the key initiatives (resource allocation), prioritizing and finalizing the relevant initiatives, and including approved initiatives in the base budget. Works extended to monitoring variances on budget and forecast variances, and engaging in corrective actions if necessary. Develop a financial model for new investment with the support of sensitivity analysis.
> Development of KPI – with fundamental numbers laid down annually and quarterly, relevant Key Performance Indicators (KPIs) were developed to closely monitor the performance of deliverables.
> Financial Health Determination – develop relevant analysis surrounding liquidity and working capital, short to medium-term cash flow forecast to determine the financial health of the Company.
> Frontline business support – working closely with frontline sales in providing different analyses ranging from costing, and real-time reporting of key deliverables to loss estimation, entitled sales commission, and more. The real-time partnering with sales units aims to drive the business forward toward achieving the revenue and profit goal via accurate analysis and data support.
> Group Reporting – Design and develop a reporting package including policies, timetable, dedicated reporting team to collect data from branches, subsidiaries, and offices located in different locations and/or countries periodically.
Accounting and Regulatory Compliance
In addition, ensuring the Accounting and Regulatory Compliance of the Company is one of the key responsibilities of our professional manager service. This includes taking over existing roles, accounting systems, and structures set up based on specific needs, business models, and industries of our corporate clients, maintaining the process of recording, scrutinizing, abridging, categorizing, and presenting to key stakeholders of the Company. Accounting forms comprise financial and management accounting, cost accounting, project accounting, and more.
Finance Department Transformation
Furthermore, with specific requests, our professional management assistance could help with the Finance Department Transformation. The transformation goal is to enable the Finance department to drive business instead of a mere supporting function. In other words, upon successful transformation, the finance function of the Company will act as a Business and Finance Partner to the frontline sales functions, supporting all major business performance aspects and ultimately, improving eventual performance towards achieving the targeted revenue and profit.
Others
Our professional manager service scopes also extend to Treasury Functions, Administrative Support, Information Technology, Commercial Design, Marketing and Multimedia Promotion, and Client Relations. Other transaction advisory support comprises Mergers and Acquisitions, Business Valuation, Initial Public Offerings in the U.S. Stock Exchange, Cost Control and Reduction, Forensic Investigation, Enterprise Risk Management, Government Grant Applications, Company Secretarial services, Statutory Audit, Tax Services, and other key compliance support services.
Please take note that these services can be customized toward taking over an existing role or the new and/or additional roles in association with the new initiatives undertaken by the Company.
For more of our service scope please refer to “Our Services”.
Key Challenge – Delay in Seeking Helps
Undertaking new initiatives such as business expansion, entering a new market, or downsizing or introducing restructuring in the existing debt, functions, or even existing structure of the Company, is risky business for most Companies. However, our experience reveals often, that the Board or management of the Company tends to defer the actions of seeking professional help until the issue or initiative with which they are dealing gets out of control. As a result, the prolonged deterioration has put the existing core functions of the Company in great jeopardy which ultimately caused irreversible damage to the business value.
We highly recommend engaging a professional manager at an early stage not only to assist the key stakeholders of the Company in planning, allocating resources, and other relevant tasks in the course of preparing the Company for the new initiatives or direction but also to engage an independent review at an early stage could lead to early detection of business problems. Simply put, the earlier these problems are identified, the higher the chance they can be resolved effectively. This in turn shall minimize any potential business disruptions and failure in executing the relevant new initiatives.
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When connected with us, you aren’t growing your business alone. We have your back and put in our best to contribute to the growth of your entire team and organization. So, if you are looking for the right consultant that’ll help you overcoming business and operational challenges, and bring in more conversions and revenue, we are right here!