Interim Finance Manager in charge of accounts receivable and accounts payable
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Takeover of accounts receivable and accounts payable by an interim finance manager
Use cases
Taking over accounts receivable accounting and later during the project also accounts payable accounting
Pre-account management and preparation of the month-end closing for handover to the tax consultant
Teamlead for newly hired finance employees
"torq.partners offers more than just advice. As the name suggests, they are real partners who are also involved in the client's operations. The collaboration has relieved me of numerous financial tasks and allowed me to focus on strategic issues."
Sebastian Paasch
Managing Director
Challenges
Due to the lack of internal resources, the finance item was covered by the managing director for accounts receivable.
During the project, the position for accounts payable also had to be filled.
Due to a lack of automation and internal resources, there was no preparatory accounting.
In general, an internal finance team had to be set up.
Solution
Identification of existing invoicing, dunning and communication processes and structures that are directly adopted by the CEO
Optimization of the monthly closing process through automation that minimizes manual effort and speeds up the process
Training new employees to fill the required positions, including the development of an internal finance team
Setting up documentation for new employees
Impact
By taking over the finance tasks from the CEO, his resources were freed up for strategic issues.
Key financial processes have been streamlined to speed up accounts receivable and accelerate the process from order to receipt of payment.
The processes in accounts payable have also been accelerated to create greater clarity.
