• Implementation of new ERP systems

  (for accounting and controlling) :

  The implementation of a new ERP system, of a new accounting or financial software is usually not an easy change and involves some risks. It is time consuming for finance and accounting teams at all stages (analysis and description of the “as it is” situation, requirements definition for the “nice to have” situation, testing and validation, implementation and training), all the more than it is generally the opportunity to review and update the accounting chart of account and procedures, the structure of cost centers, the reporting tools at the level of accounting (reports for statutory declarations like VAT or intratsat of for internal use…) as well at the levl of controlling. Internal resources have not necessarily the availability to fully manage such a project or might not have the expertise and skills to manage this migration.
  A change in software is usually key for the business and the company ; better not to fail and thus use temporary external resources fully dedicated to this change andhaving experience in software implementation or in system migration .

 

• Restructuring/french “PSE”:

  FlexiDAF can assist you:

  • in the preparation and evaluation (cost and benefit calculation) of the reorganization/restructuring plan : quantification of social measures, calculation of impacts on production (with possible stops or transfers of product lines and decreased efficiencies), on overheads, on inventories and on the cash-flow, presentation of pro forma P&L and cash flow after restructuring…
  • during the execution of the plan: follow-up of the plan, assistance to the financial teams potentially negatively affected in their daily work, eventual carve-out of some activities and presentation of pro forma financial statements, management of all impacts on the management books or statutory books

  These changes which are necessary to improve the profitability of the company are generally a real test for the finance team both from emotional level and from workload’s point of view. Hence getting temporary help from external resource experienced in restructuring plans will certainly bring you a more unbiased view ; above all contribute to smooth things over especially for your finance and acounting department.

 

• Reorganization/optimization of financial teams:

  Financial and accounting teams are subject to increasing pressure : time pressure due to the shortening of monthly deadlines (need to deliver results and understandable reporting of management more quickly), time pressure linked to some mismatch between the internal schedule and the external constraints (external regulatory reporting), pressure linked to the increased mass of information to be processed, analyzed and synthesized, and finally pressure due to the fact that finance and controlling teams have become real business partners able to provide financial insight views into the various areas of the business.

  FlexiDAF can help you performing an audit of your financial department in this very challenging environment and help you to drive the change in your teams so as to improve the overall performance, efficiencies and skills.

 

• Shared Service Centers (CSC) – Outsourcing of financial or accounting services (Business Project Outsourcing):

  The outsourcing of finance services or of accounting services (Business Process Outsourcing) and the creation of administrative Shared Services Centers(CSC) even if they are different in terms of principles are generally aiming the same objectives : improve efficiencies, bring cost reduction by pooling expertises and resources and increase flexibility. With recent technology evolution (information systems, means of communication, dematerialization, documentation softwares), such projects are today easier to manage and to implement. Each step during such projects is crucial but the success essentially relies on the quality of the initial reengineering phase. Unfortunately the temptation is high to wrongly shorten this first phase as much as possible in order to go live ASAP.

  This first phase is difficult at the technical level: it is really important to set clear goals, to define a consistent and achievable schedules with the teams involved, to have a very detailed description and documentation of existing processes and to think to the new processes or nice to have processes. This first phase is also complex at the human level, because the implicit reorganization and changes do represent a significant source of uncertainty for the teams, do require cooperation with new people and are therefore a significant source of stress. This is especially true when you add the barrier of language and culture (especially in case of implementation of CSP or outsourcing in low-cost countries).
  By experience, adjustment and verification of the correct application and relevance of new defined process step is absolutely necessary some time after implementation.

  Financial and accounting CSP or outsourcing concern primarily activities with high transaction volumes: accounts payable, accounts receivable, fixed assets accounting, general accounting, expense management, cash. But it may also concern less volumetric operations and more complex subjects: reporting, tax (as VAT returns and intrastat declarations ….). FlexiDAF has a broad experience in finance outsourcing activities and in CSC implementation.
  You will find in my blog some specific articles written on this subject :
  - the key sucess factors for implementing a Shared Service Center in Accounts Payables

 

• Financial and administrative support for international expansion:

  The international expansion can be a nightmare especially for small and middle sized companies. This implies changing some habits or documents (for example the invoice), considering some new regulatory impacts (ex VAT, customs…), learning new ways of working (including letters of credit in case of trade with Asia)… The international development may also mean to implement new structures or entities abroad. For this, you can of course for this completely rely on local foreign advisors : but it is not always easy to find appropriate ones, to manage due to the language or cultural barriers and it can cause some setbacks or significant overcosts.
  FlexiDAF,with the broad international experience accumulated,can help you in terms of finance and administrative support in this difficult road to overseas developments.

 

• Financial and administrative support in France/Europe for foreign companies:

  For having experienced it, it is not always easy to locate or implement a subsidiary in a foreign country. We have to cope with the language barrier, the ignorance of the local rules of the country and the lack of contacts. It may be possible to find an accounting firm. But which one to choose? Will this be enough to help locally the business, to start implementing a financial or accounting team? Should we immediately hire a full-time CFO, as the activity is only at the development stage ? These are kind of questions you might ask yourself if you want to develop your business in France or in Europe, and do not have locally any financial support.

  FlexiDAF through the proposed flexible solutions especially in shared time finance can help you solve this puzzle related to your business in France or in Europe. This has the great advantage of providing you with a fully operational financial support, familiar with the French or European context and at the same time completely flexible. In addition, the communication with the different stakeholders in your company should be facilitated because of the habit of working in international environments and of the possibility of finding a common language (either in French, English, German or Spanish).

You will find in my blog some specific articles written on this subject :
- Creating a new company in France is easy !