Project and commercial support
Financial management solutions
Tailored analytical solutions
US-based IT company with Australian subsidiary
Establishment services
Project managed all of the legal and compliance obligations and practical requirements in setting up operations in Australia. These tasks included site selection and fit-out, telecommunications, banking, HR, systems and process.
Outcome
Successfully managed the establishment of operations (10–15 people) over a 2 month period within budget. Continued to manage the finance and administration role, reporting to the US parent on a monthly basis.
Hardware component supplier
Audit preparation
On the recommendation of the auditors, this publicly listed company engaged iBean 'to clean' up a number of areas of the balance sheet prior to the next audit.
Outcome
iBean worked with the client's finance team and focused on key areas of the finance function that required improvement. A number of processes were re-engineered resulting in a clean audit report.
Medical indemnity insurer
Placement of accounting resources
The client was experiencing large growth in its business activities and also preparing for the annual audit – placing enormous strain on the internal finance resources. iBean provided resources to the finance team over a period of six months allowing the client to recruit and train new staff adequately.
Outcome
The finance function operated successfully through the audit and then recruited additional full time accounting resources. iBean assisted with hand-over and training of the new staff and continued to assist in other areas of the business.
Biotech company
Transaction advice - group restructure
As a result of a major restructure, iBean was engaged to review the finance function and develop systems and processes. The project included establishing new accounting procedures, development of management reporting and overseeing an independent review by the auditors.
Outcome
The company was given a clean audit report and the client decided to outsource the entire finance function to iBean.
Financial accounting – statutory reporting
iBean is responsible for the preparation of annual
and bi-annual statutory accounts and management
of
the audit.
Outcome
iBean prepared the accounts liaising with the
auditors to ensure all issues were attended to in a timely manner.
Technology solutions company
Management reporting – cash forecasting and budgeting
The client was experiencing cash flow difficulties and needed to understand the financial drivers causing the problem.
Outcome
iBean developed budgets and management reports that highlighted variances to the budget allowing the business to improve planning based on forecasted position.
Full service digital agency (multiple entity)
Transaction advice - financial review of potential acquisition
Performed a review of the operations and the financial position on a potential acquisition. The review included a detailed analysis of financial records, cash position and analysis of revenue.
Outcome
Based on recommendations provided in the report, the client proceeded with the acquisition and successfully integrated the business into existing operations.