Financial Architecture for Strong Growth: CFO Mandate in Luxury E-Commerce

End-to-end responsibility for financial management and performance of a fast-growing Viennese luxury goods retailer as CFO – spanning process digitalization, structured reporting and support for international expansion.

Responsibility:

  • All financial duties.

Mission:

  • Ensuring liquidity
  • Significantly shortening the monthly closing process
  • Introduction of a monthly reporting system and management steering framework
  • Liaise with banks to ensure project financing
  • Assessment of international expansion requirements

Measures:

  • Redesign and digitalize all processes where appropriate
  • Definition of a structured process for month-end closing
  • Definition of financial KPIs
  • Support of the ERP vendor selection process
  • Design of a structured personnel planning approach

Successes:

  • Bringing down the monthly close process from 6 weeks to two
  • Digitization of the invoice workflow

Special Challenge:

  • The person in charge of finances left the organisation at the beginning of my engagement which gave only limited time for the hand-over.
  • The existing processes were characterized by a high degree of bureaucracy, and there was little understanding that it could also work without it.