Our client is a Belgian non-profit organization that offers trainings for employees and unemployed people. It is the biggest training company in Belgium.
As a non-profit organization, they had never felt the need for proper and standardized accounting and reporting principles.
But growing years after years, having more and more employees overtime, and having the financial resources increasing each year, the need for new standardized accounting and reporting methods appeared.
BFS’s mission was then to bring new professional methods within a particular context for an organization that had never been used to working with complex financial processes.
Our client asked Business & Finance Solutions to support their financial team in two ways:
BFS is now entirely in charge of our client's accounting process with three consultants. One of them oversees the entire A/P process, the second one oversees the G/L accounting and the last one oversees the financial control of the company.
The BFS team has been able to master our client's entire accounting process in a short period of time.
As the financial controller consultant, I am mainly in charge of:
-The annual budgeting process and the monthly follow-up of the budget
-The monthly reporting by delivering a proper financial report to our client's management
-Performing various controls to look for discrepancies in the accounting
-Teaching new financial principles to the client's employees
-Writing various procedures on the tasks that I perform
-Implementation of new IT tools:
In addition to the three consultants dealing with the daily accounting of our client, we also have three other consultants in charge of implementing new IT tools for our client.
Our team has been responsible for implementing new accounting software, a totally new cost accounting system, and new IT tools such as a reporting fully made with PowerBI.
They are also in charge of implementing an automatic Purchase Order - Invoice reconciliation process.
This will save our client a lot of time as they currently have three employees dedicated to performing this task.