Monsoon Consulting is one of Europe’s leading B2B and B2C digital platforms for enterprise Ecommerce and content platforms. They provide best in class digital service to their clients and have successfully completed over 200 projects in Ireland and the UK. They reached out to Outmin when their experienced CFO, who handled multiple important tasks, decided to leave. We sat down with Bharat, the owner of Monsoon Consulting, on how Outmin worked with them to deliver a tailored solution and the impact it made.
Before Outmin, Monsoon had a full-time CFO who had been with the company for many years. They also worked with an external service for payroll management and producing annual reports. Together, they handled everything, including invoicing and chasing money, managing supplier accounts, handling payroll and producing accounts and forecasts.
However, things took a turn when the CFO decided to move to a new opportunity. They found themselves in a tough spot, struggling to find a dependable replacement who would stick around for the long haul.
We worked with Bharat to map out a solution that worked for them. Now, he has a team of experts, rather than one person juggling everything, which is exactly what he wanted.
Instead of hiring an in-house CFO, they decided to hire a full-time finance assistant to handle their invoicing requirements and Outmin, for everything else.
We provide technical bookkeeping and accounting expertise to manage and file VAT, Payroll and Year End accounts, whereas the financial assistant takes care of invoicing, payment follow-ups, and bank payments.
Outmin also provides a fractional CFO to pull all of the above info together to produce management accounts. He actively participates in the board meetings, helping with decision making and management of the business. Together, providing a seamless financial solution that covers all aspects of the business.
“Outmin fulfils all of the requirements that were being met by a full-time CFO, traditional accountant and outsourced payroll provider, all in one place. With their expertise and long-term commitment, we have found the perfect partner to meet all our financial needs. It’s a game-changer for us!”
Outmin has significantly streamlined and enhanced Monsoon Consulting’s finance operations by offering a comprehensive, all-in-one solution.
- Outmin handles VAT returns, payroll management, bank reconciliation, and processing of invoices for both suppliers and clients in close collaboration with Monsoon’s finance assistant.
- Outmin prepares year-end accounts and works closely with the Auditor to ensure their successful completion and filing. Monsoon’s role is simply to review and sign off on the accounts.
- By having the right individuals in the appropriate roles instead of relying on an expensive resource to handle everything, Monsoon saves ~ €50k annually.
"Outmin fulfils all of the requirements that were being met by a full-time CFO, traditional accountant and outsourced payroll provider, all in one place. With their expertise and long-term commitment, we have found the perfect partner to meet all our financial needs. It's a game-changer for us!”
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