At a glance
| Challenges | What improved with Gravita’s involvement |
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When a new Finance Director at an international C-suite recruitment firm reached out to us, the request seemed straightforward. Could we help fix their chart of accounts problem?
Our team took time to understand the broader context. Through detailed conversations, it became clear that the chart of accounts issue was symptomatic of much wider operational challenges across their finance function.
This multimillion-pound recruitment business operates across the UK, Hong Kong, and the US, recruiting international CEOs and CFOs. However, their finance function faced significant operational challenges that were hampering growth and expansion plans.
The problem
Multiple previous finance directors had each attempted fixes, creating misaligned charts of accounts across entities. The same information appeared in different places across different systems. Nobody trusted the numbers anymore.
Management accounts took so long to prepare that by the time they closed the following month, they were finally getting the previous month’s figures. The CEO admitted this was the first time in three years they’d had a proper view of their entire business.
Intercompany transactions were unreconciled and muddled. The management accountant spent time on manual data processing rather than the strategic work they were hired to do. They were also going on maternity leave, creating an opportunity to redesign the role properly.
The business wanted to open in Dubai but couldn’t scale their broken processes. They needed a cookie-cutter approach for future expansion.
Objectives
Rather than simply addressing the chart of accounts in isolation, we worked with the client to identify their real objectives for a transformed finance function. The primary goal was to create a unified, trustworthy view of the business across all territories. The CEO needed real-time visibility into performance across the UK, Hong Kong, and US operations with consistent reporting standards.
They required a scalable solution that could support rapid international expansion. The planned Dubai office needed to be operational quickly without inheriting the existing problems. Any new locations should follow a documented, repeatable process.
The finance team structure needed optimising. The management accountant role should focus on strategic analysis and business support rather than manual data processing. The business wanted access to specialist knowledge beyond what one individual could provide.
Process efficiency was critical. Month-end procedures needed to be faster and more reliable, with automated workflows replacing manual interventions wherever possible. Intercompany reconciliations across multiple currencies and jurisdictions required a systematic approach.
Technology integration was essential to connect disparate systems and eliminate the Excel-based workarounds that were creating inconsistencies and errors.
How Gravita helped
We repositioned the conversation around solving their real business challenges rather than patching symptoms.
1. Getting the basics right
Starting with the fundamentals, we consolidated three separate charts of accounts into one consistent structure. Rather than imposing a standard solution, we worked with the business to understand exactly how they wanted to report information, then built the foundation to support that vision with a specific contribution P&L structure by territory and division.
2. Connecting the technology
The real breakthrough came from connecting their entire process end-to-end. We brought sales invoicing into the Xero platform with automated invoice templates and direct posting capabilities. At the front end, Dext was implemented for OCR data capture, automatically extracting information from invoices and pushing them directly into Xero with supplier rules and auto-posting capabilities.
For consolidation and reporting, we introduced Syft, which handles both functions and provides live management reports for each entity and consolidated views. Mayday was brought in specifically for intercompany reconciliations, allowing adjustments to be made once and automatically distributed across all entities, eliminating the previous manual replication errors.
3. Documenting everything
We designed comprehensive standard operating procedures documenting every aspect of the finance function end-to-end. This included clear service level agreements establishing who does what by when, creating accountability and ensuring smooth month-end processes.
Our offshore team in India handles data capture and processing, while review, judgement and reporting remain onshore. This hybrid model meant the management accountant could focus on strategic work rather than manual data entry when they return from leave.
The results
The CEO now has live access to drill down into numbers from management reports without going back to source data. They can interact with the platform directly and see their entire business in real time.
Management accounts are now automated, consistent across all entities, and delivered with the contribution P&L structure they wanted by territory and division. The intercompany reconciliations that used to be unreconciled and problematic now happen automatically through one platform, including proper handling of foreign exchange differences.
When the management accountant returns from maternity leave, they’ll step into the strategic role they were originally hired for rather than drowning in manual processes.
The business can now open in Dubai tomorrow using their documented cookie-cutter approach. Every process is documented with clear SOPs, automated where possible, and fully scalable. They have access to our full range of specialists for additional requirements like tax work, directors’ loan accounts, and benefits in kind, rather than relying solely on internal knowledge.
The flexible offshore model operates on a pay-as-you-go basis during core delivery phases, with the option to scale to full-time equivalent resources as needed. The time zone difference works in their favour, with processing happening during non-UK hours and queries resolved during UK business hours.
This transformation shows how understanding real challenges and building solutions that address root causes creates lasting value. By asking the right questions upfront, we’ve given them a finance function that supports growth rather than holding it back. They’re now equipped to scale internationally with confidence.
Ready to transform your finance function?
If your business is struggling with inconsistent reporting, manual processes, or preparing for international expansion, we can help. Our outsourced finance solutions are designed to grow with your business, providing the expertise and technology you need to scale efficiently.
Contact our team today to discuss how we can transform your finance function and support your growth ambitions. Let’s start with the right questions.
