| Role: | Finance Manager |
| Period (Duration): | 10/2022 to 12/2023 |
| Company: | German subsidiary of a global company in satellite communications |
| Industry: | Satellite communication |
| Revenue: | n/a |
| Employees: | locally: 40 |
| Situation at the client: | Incumbent wanted to retire after 20 years in this position |
| Place of Business: | Luxembourg (Group), Fuchsstadt, DE (subsidiary) |
Responsibility:
- Prepare the accounts in local GAAP (German HGB)
Mission:
Taking over the duties of the incumbent and preparing the tasks for handover to a new employee who had yet to be found
- Posting of incoming invoices in DATEV (local accounting platform) and corresponding creditor management
- Management of the asset register in DATEV
- Reconciliation of bank accounts in the group ERP (Oracle Fusion)
- Prepare VAT return
- Posting payroll in the group ERP
Finalization of the 2021 audit and preparation and closing of the 2022 audit
Measures:
- Converting the paper-based invoice verification and posting process to a digital process
- Introduction of continuous processes to distribute the workload throughout the month
Successes:
- Significant efficiency boost which reduced the full time position to a 50% FTE
Special Challenge:
- The existing processes had been ingrained for years and were entirely built around the circulation of paper documents.
- The infrastructure dictated by the group (those functions and processes mapped in Oracle Fusion) cannot be altered. This means I had to create suitable workarounds using local tools